Section 75 Debt definition

Section 75 Debt means so much of the amount treated by section 75 of the 1995 Act F3 (deficiencies in the assets) as a debt due from the employer to the trustees or managers at the applicable time.

Section 75 Debt means a debt due, or a debt which might become due, from the employer in relation to the scheme under section 75 of the Pensions Act 1995 F4 (deficiencies in the scheme assets);

Section 75 Debt means any statutory debt due from the Company to the Pension Scheme Trustees under section 75 of the Pensions Act (and regulations made thereunder);

Examples of Section 75 Debt in a sentence

• In connection with the foregoing: in the event that such Section 75 Debt amount is being paid in the circumstance identified in clause (A) above, such amount shall be based on the best estimate of such a debt that would be certified by the scheme actuary to the U.K. DB Plan (determined by the third party actuary mutually acceptable to Seller and Purchaser).

• However, if the actual amount of any Section 75 Debt (as certified by the scheme actuary to the U.K. DB Plan) payable by a U.K. Pension Entity is higher than the sum which the Seller has transferred to the Purchaser, the Seller will promptly pay the amount of any shortfall to the Purchaser, such that the Purchaser will receive the full amount from the Seller of any Section 75 Debt payable by a U.K Pension Entity.

• A contribution notice is a notice requiring a person to pay into a pension plan an amount of up to the Section 75 Debt (defined below) due.

• If such Section 75 Debt amount is being paid in the circumstance identified in clause (B) above, such amount shall be based on such a debt as certified by the scheme actuary to the U.K. DB Plan.

• If the amount transferred by the Seller to the Purchaser is higher than the amount of the Section 75 Debt owed by a U.K. Pension Entity, the Purchaser shall return any excess amount (with any interest that has accrued) to the Seller promptly upon receiving confirmation from the U.K. DB Plan scheme actuary as to the amount of the Section 75 Debt.

More Definitions of Section 75 Debt

Section 75 Debt means any statutory debt due from the Company to The Trustees of the Sea Containers 1983 Pension Scheme and/or The Trustees of the Sea Containers 1990 Pension Scheme (as the context requires) under section 75 of the Pensions Act (and regulations made thereunder);

Section 75 Debt means the debt payable by a U.K. Pension Entity to the U.K. Trustees in respect of the U.K. DB Plan under Section 75 or Section 75A of the UK Pensions Xxx 0000, as amended, and any regulations made thereunder.

Section 75 Debt shall have the meaning set forth in Section 3.11(f).

Section 75 Debt means so much of the amount treated, by section 75 of the Pensions Act 1995 F4 or Article 75 of the Pensions (Northern Ireland) Order 1995 F5 (deficiencies in the assets), as a debt due from the employer to the trustees or managers of a scheme immediately prior to‌

Section 75 Debt. “ has the meaning given in Section 4.6(o)(1).

Section 75 Debt shall have the meaning set forth in Section 7.01(k)(v).

Section 75 Debt means the debt payable by a U.K. Pension Entity to the U.K. Trustees in respect of the U.K. DB Plan under Section 75 or Section 75A of the UK Pensions Act 1995, as amended, and any regulations made thereunder.