Purchase Formula definition

Purchase Formula means at any time, and amount equal to 130.00% of the net amount of all Acceptable/Eligible Accounts.
View Source
Purchase Formula. If the Plan is established under a Money Purchase Adoption Agreement (a "Money Purchase Plan"), for each Plan Year, an Employer shall, subject to the restrictions set forth in Article XIII, pay to the Trustee an amount determined in accordance with its Adoption Agreement; provided, however, that an Employer's contribution paid to the Trustee for any Plan Year shall not exceed the maximum amount permitted as a Federal income tax deduction for the Employer on account of such contribution for such Plan Year. The amount of the Employer Contributions to be funded shall be reduced by any available forfeitures pursuant to Section 5.7 hereof unless otherwise provided in the applicable Adoption Agreement.
View Source

Examples of Purchase Formula in a sentence

  • Seller acknowledges Buyer has no obligation to make any payments of Current Year Additional Purchase Formula Amounts for calendar years 1999, 2000 and 2001.

  • The Current Year Modified Additional Purchase Formula Amount shall be paid pursuant to the terms of Section 1.5(c)(v) hereof.

  • The Current Year Additional Purchase Formula Amount shall be paid pursuant to the terms of Section 1.5(c)(v).

  • Subject to the terms and conditions of this Agreement, NFS/BANK agrees to fund against the purchase of Accounts Receivable hereunder an amount not to exceed the sum of ($3,000,000.00) Three Million and 00/100 or the Purchase Formula for the purchase of ALL of the Acceptable/Eligible Accounts, whichever is less.

  • The Current Year Additional Purchase Formula Amount shall be paid pursuant to the terms of Section 1.5(c)(iv).

  • CLIENT understands and agrees that the maximum amount funded by NFS/BANK for the purchase ALL of CLIENT’S Accounts Receivable (and all rights securing payment of such Accounts Receivable) shall be limited to the amount of the Purchase Formula for the funding of ALL of the Acceptable/Eligible Accounts or the amount specified in Section 49 below, whichever is less.