Applicable Cap definition

Applicable Cap has the meaning set forth in Section 7.2(a).

Applicable Cap means the lesser of (i) two times the sum of the Officer’s annual rate of pay determined as of December 31st of the calendar year prior to the year in which the Officer is Job Eliminated, or (ii) two times the maximum amount that may be taken into account under a qualified plan pursuant to Code section 401(a)(17) in effect for the calendar year in which the Job Elimination occurs. In calculating the Applicable Cap, all amounts that are defined as payments under a “separation pay plan” sponsored by the Corporation for an individual Officer are aggregated.

Applicable Cap means the lesser of: (a) two times (2x) the sum of the Officer’s annual rate of pay determined as of December 31st of the calendar year prior to the year in which the Officer’s Job Elimination (actual separation from service) occurs, or (b) two times (2x) the maximum amount that may be taken into account under a tax-qualified retirement plan pursuant to Code section 401(a)(17) in effect for the calendar year in which the Officer’s Job Elimination (actual separation from service) occurs. In calculating the Applicable Cap, all amounts that are defined as payments under a “separation pay plan” sponsored by the Corporation for an individual Officer are aggregated. 

Examples of Applicable Cap in a sentence

• Applicable Cap: $15,000.00 per covered claim over the life of the claim.

• Applicable Cap: $2,500.00 per covered claim over the life of the claim provided the member has incurred the first $2,500.00 in fees towards the Family Law covered claim.

• Applicable Cap: $2,500.00 per covered claim over the life of the claim, provided the member has incurred the first $2,500.00 in fees towards the covered claim.

• In the Petition, the Trustee on behalf of the Trust requests authority from and after January 1, 2015 to use Trust assets to pay Protocol Expenses related to the pursuit of RMBS Claims from pre-waterfall Trust funds without application of the Applicable Cap.

• Any other non-Protocol Expenses payable or reimbursable from Trust funds pursuant to the Trust Agreement would still be subject to the Applicable Cap in accordance with the terms of the Trust Agreement.

More Definitions of Applicable Cap

Applicable Cap has the meaning set forth in Exhibit C.

Applicable Cap means that number of Units as is determined by multiplying the Seller's Capital by the percentage cap described in the then applicable Section 1.01 (b) (ii) (A), (C), (D), (E), or (F).

Applicable Cap means (i) for calendar year 2022, $187,000,000 (one hundred eighty-seven million dollars) and (ii) for calendar year 2023, $139,000,000 (one hundred thirty-nine million dollars).

Applicable Cap has the meaning assigned to such term in Section 6.02(e)(ii).

Applicable Cap shall have the meaning assigned to it in Section 10.2(c). --------------

Applicable Cap means the capitalization rate (expressed as a decimal) applicable to a Qualified Lease based on the length of its Qualified Term according to the following table: Applicable Term Capitalization Rate 36-60 months 0.08 19-35 months 0.12 0-18 months 0.15

Applicable Cap has the meaning given to that term in Section 11.04(a).