Underfunded Amount definition

Underfunded Amount means the excess (if any) of (a) the “pension benefit obligation” over (b) the “fair value of plan assets” as of the measurement date required under this Agreement, in each case as such terms are used in, and such amounts are calculated, in accordance with GAAP, consistent with the methodology used for purposes of presentation in the Operating Subsidiary’s Notes to Consolidated Financial Statements as of and for its fiscal year ended December 29, 2012 as filed with the SEC prior to the date of this Agreement. For purposes of clarification, (i) the “pension benefit obligation” shall be determined using the appropriate discount rate as of each date for which this amount is required to be calculated under this Agreement, and such discount rates shall be determined using a methodology consistent with that used in the Operating Subsidiary’s Notes to Consolidated Financial Statements as of and for its fiscal year ended December 29, 2012 as filed with the SEC prior to the date of this Agreement and (ii) the “fair value of plan assets” referenced above shall be as of each date for which this amount is required to be calculated under this Agreement.

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Underfunded Amount has the meaning set forth in Section 3.4(a).

Underfunded Amount has the meaning set forth in Section 6.12(c).

Examples of Underfunded Amount in a sentence

• A Contributing Member shall have the right (but not the obligation) to elect by notice to the Board of Directors delivered within ten (10) days after its receipt of the Non-Contribution Notice, to contribute an amount up to its respective Proportionate Interest (as between Contributing Members only) (an “Excess Contribution”) of the Underfunded Amount.

• With respect to any Underfunded Amount existing on a Reporting Day, each Overadvance Bank agrees to immediately transfer to the Agent an amount equal to such Bank's Overadvance Commitment Percentage multiplied by such Underfunded Amount.

• In no event (except for inaccuracy of the data provided) shall the Aggregate Underfunded Amount determined by the third actuary be more than the Aggregate Underfunded Amount claimed by Buyer’s Actuary or less than the Aggregate Underfunded Amount determined by Seller’s Actuary.

• Promptly upon the request of the Buyers, the Seller shall cause the Company to provide the Buyers and their Representatives with access to such work papers and other materials as the Buyers or their Representatives may reasonably request in connection with their review of the Estimated Closing Balance Sheet, the Estimated Closing Statement, and the Estimated Underfunded Amount.

• Promptly upon the request of the Seller Parties, the Buyers shall provide the Seller Parties with reasonable access to the work papers used by the Buyers in the preparation of its determination of the Underfunded Amount.

• The Buyers’ determination of the Underfunded Amount shall be prepared in accordance with the Pension Principles set forth on Schedule C).

• The Estimated Underfunded Amount shall be prepared in accordance with the Pension Principles set forth on Schedule C.

• A Contributing Member shall have the right (but not the obligation) to elect by notice to the Board of Directors delivered within 10 days after its receipt of the Non-Contribution Notice, to contribute an amount up to its respective Proportionate Interest (as between Contributing Members only) (an “Excess Contribution”) of the Underfunded Amount.

• The Aggregate Underfunded Amount shall be calculated on the same basis that was used to determine the estimate referred to in Section 3.13(b)(iii) and, if applicable, the conversion rate from the applicable Foreign Currency to U.S. dollars shall be the closing rate provided by Bloomberg at 5:00 a.m. New York City time on the Closing Date.

• If the Underfunded Amount exceeds Eighty Million Dollars ($80,000,000) (“Pension Target Amount”), determined as of February 28, 2009, Seller will pay to Holdings the difference between the Underfunded Amount and the Pension Target Amount, in cash, within five (5) Business Days of the final determination of such excess amount.

More Definitions of Underfunded Amount

Underfunded Amount means the amount, if any, by which the PBO Liability (as defined in the Pension Principles) as of the Closing Date exceeds the Final Pension Transfer Amount.

Underfunded Amount means the amount by which the present value of the liabilities of the Spun Off Plan determined as of February 28, 2009 exceed the pension assets to be transferred from the Seller Pension Plan to the Spun Off Plan determined as of February 28, 2009, with the assumption that an additional contribution of One Million Five Hundred Thousand Dollars ($1,500,000) will be made on April 15, 2009, thus reducing the Underfunded Amount by One Million Five Hundred Thousand Dollars ($1,500,000), and otherwise determined in accordance with the actuarial assumptions set forth on Section 6.12(c)

Underfunded Amount. As to any Deposit Date, the excess, if any, of (x) the Capitalized Interest Requirement for the next Deposit Payment Date over (y) the sum of (i) the amount on deposit in the Capitalized Interest Account __________ the transfers pursuant to the first sentence of Section [5.2] of the Sale and Servicing Agreement on such Deposit Date and (ii) the aggregate Funding Earnings on the remaining amount on deposit in the Funding Account for the period from such Deposit Date to the next Deposit Date at ___% per annum. SCHEDULE I Schedule of Home Equity Loans SCHEDULE II UCFC Home Equity Loan Owner Trust 1997-_ Asset Backed Notes and Asset Backed Certificates Series 1997-_ Representations and Warranties of the Issuer Home Equity Loan Owner Trust 1997-_ (the "Issuer") hereby makes the representations and warranties set forth in this Schedule II to the Servicer and the Indenture Trustee, as of the Closing Date.