Total Transfer Amount definition
Examples of Total Transfer Amount in a sentence
The Total Transfer Amount shall take into consideration any distributions, in-service withdrawals or participant loans received by such employees from the Seller's Plan, including any such distributions, withdrawals or loans received after the Closing Date.
In accordance with the provisions of this paragraph, Seller agrees to cause the trustee of Seller's Plan to transfer to the trustee of Buyer's Plan the Total Transfer Amount (the date of such transfer being called the "Transfer Date").
The Total Transfer Amount shall be transferred to the Buyer's Plan entirely (1) in cash or other assets acceptable to the trustee of Buyer's Plan; and (2) notes which represent the participant loans of such employees.
The True-up Amount shall equal the difference between the Total Transfer Amount and the Initial Transfer Amount, adjusted to reflect any benefit payments made by the Seller Retirement Plan in respect of the Company Employees on and after the Closing Date and before the date of transfer, and further adjusted for investment returns as provided below and, to the extent Buyer requests cash, by the reasonable transaction costs incurred in selling in-kind assets within the Seller Retirement Plan.
Sellers shall provide Buyer with the Total Transfer Amount figure no later than 21 days following the Closing Date.