Section 2.16 definition

Section 2.16. Key Employees” shall mean a key employee, as defined in Section 416(i) of the Code (without regard to paragraph (5) thereof) of an Employer so long as the Employer is a corporation, any stock in which is publicly traded on an established securities market or otherwise.

Section 2.16. Mortgage shall mean and refer to any Mortgage, Deed or Trust, or other document pledging any portion of the Property or interest therein as security for the payment of a debt or obligation. "First Mortgage" shall mean and refer to any Mortgage w hich is not subject to any prior lien or encumbrance except liens for taxes or other liens w hich are given priority by Statute.

Examples of Section 2.16 in a sentence

• Disputes arising under this section shall be addressed through the Dispute Resolution Procedures set forth in Section 2.16 of the ISO OATT and Section 11 of the ISO Services Tariff.

• In addition, the Customer shall ensure that its equipment and/or system or that of its agent is properly interfaced with the Company's service, that the signals emitted into the Company's Network are of the proper mode, band-width, power, data speed, and signal level for the intended use of the Customer and in compliance with the criteria set forth in Section 2.1.6 following, and that the signals do not damage Company equipment, injure its personnel or degrade service to other Customers.

• Within the period of the Stop Work Order, the State must either: (a) terminate the Stop Work Order; or (b) terminate the work covered by the Stop Work Order as provided in Section 2.16, Termination by the State.

• All outstanding Purchase Orders will expire upon the termination of the Contract for any of the reasons listed in Section 2.16, Termination by the State, unless otherwise agreed to in writing by DTMB-Procurement.

• The point allocations for cost on the other proposals will be determined through the method set out in Section 2.16.

• Prepayments shall be accompanied by (i) accrued interest to the extent required by Section 2.13 and (ii) break funding payments pursuant to Section 2.16.

• All outstanding Purchase Orders will expire upon the termination of the Contract for any of the reasons listed in Section 2.16, Termination by the State, unless otherwise agreed to in writing by DTMB-Purchasing Operations.

• Revisions of Part II of the Faculty Handbook can occur only in accord with the procedures of Section 2.16.

• The State certifies that all wastewater facility projects in this Intended Use Plan are on the project Priority List developed pursuant to the requirements of Section 216, CWA.

• Relocation assistance provided by a state or local government to a client comparable to assistance provided under Title II of the Uniform Relocation Assistance and Real Property Acquisition Policies Act of 1970 which is subject to the treatment required by Section 216 of the Act.