Default Payment Form definition

Default Payment Form means (i) with respect to a Participant’s Grandfathered Benefit, the form of payment elected by such Participant under the Retirement Plan in connection with the Participant’s Separation from Service; and (ii) with respect to a Participant’s 409A Benefit, the Lump-Sum Option.
Sample 1Sample 2Sample 3
Default Payment Form means (i) with respect to a Participant’s Grandfathered Benefit, the form of payment elected by such Participant under the Retirement Plan in connection with the Participant’s Separation from Service; and (ii) with respect to a Participant’s 409A Benefit, the Lump-Sum Option, provided however, that if the Participant participates in the SERP prior to becoming eligible to participate in the Plan, his Default Payment Form under the Plan shall be his “Payment Form” under the SERP.
Sample 1
Default Payment Form means (i) with respect to a Traditional Formula Participant who has attained 75 Points, the Joint and 50% Survivor Annuity, if the Participant is married at his or her Benefit Commencement Date, or the Single Life Annuity, if the Participant is not married at his or her Benefit Commencement Date, (ii) with respect to a Traditional Formula Participant who has not attained 75 Points, the Cash Out Option, and (iii) with respect to a Cash Balance Formula Participant, the Cash Balance Single Sum Payment.
Sample 1

Examples of Default Payment Form in a sentence

  • A Participant shall make his Payment Election for his Grandfathered Benefit prior to the date of, or in connection with, the Participant’s Separation from Service, and if no Payment Election is made prior to the date of, or in connection with, the Participant’s Separation from Service, the Participant’s Grandfathered Benefit shall be payable in the Default Payment Form on the applicable Default Payment Date.

  • If a Participant does not specify an Elected Payment Form, such Participant’s Benefit shall be paid in the Default Payment Form.

  • If a Participant does not specify an Elected Payment Form for his 409A Benefit, such Participant’s 409A Benefit shall be paid in the Default Payment Form.

  • Where we are acting as Agent, the contract for your arrangements is between you and the supplier and any queries or concerns should be addressed to them.


More Definitions of Default Payment Form

Default Payment Form means the Single Life Annuity or 50% Joint and Survivor Annuity, as applicable, described in Section 6.2(a)(i) and (ii) of the Plan.
Sample 1
Default Payment Form means (i) with respect to a Traditional Formula Participant who has attained 75 Points, the Joint and 50% Survivor Annuity or the Single Life Annuity (as applicable), (ii) with respect to a Traditional Formula Participant who has not attained 75 Points, the Cash-Out Option, and (iii) with respect to a Cash Balance Formula Participant, the Cash Balance Single Sum Payment.
Sample 1
Default Payment Form means (i) with respect to a Participant's Grandfathered Benefit, the form of payment elected by the Participant under the Retirement Plan; provided, however, that if the Participant elects, following his Separation from Service, to receive his benefit under the Retirement Plan in the Lump-Sum Option, the form of annuity elected by the Participant under the Plan; and (ii) with respect to a Participant’s 409A Benefit, the Lump-Sum Option.
Sample 1

Related to Default Payment Form

  • Coupon Payment Date means each day specified to be an Coupon Payment Date in the Product Terms.

  • Installment Payment Date means the date on which an installment payment of an assessment is payable.

  • Coupon Amount means (i) in respect of a Coupon Payment, the amount of interest payable on a Security for the relevant Coupon Period in accordance with Condition 5 and (ii) for the purposes of Conditions 8(c) and 8(d), any interest accrued from (and including) the preceding Coupon Payment Date (or, if none, the Issue Date) to (but excluding) the due date for redemption if not a Coupon Payment Date as provided for in Condition 5(b);

  • Redemption Payment Date As defined in Section 13.1.

  • Monthly Redemption Amount means, as to a Monthly Redemption, one seventh of the original principal amount at 110% of such principal amount, plus accrued but unpaid interest, liquidated damages and any other amounts then owing to the Holder in respect of this Note.

  • Payment Due Date means the date by which the Date of Payment must occur, in accordance with the provisions of Sections 504.3 through 504.5 of this Exhibit, in order for NYSERDA not to be liable for interest pursuant to Section 504.6.

  • Early Redemption Amount (Tax) means, in respect of any Note, its principal amount or such other amount as may be specified in, or determined in accordance with, the relevant Final Terms;

  • Repayment Price means, when used with respect to any Security to be repaid at the option of the Holder, the price at which it is to be repaid by or pursuant to this Indenture.

  • Redemption Amount means, as appropriate, the Final Redemption Amount, the Early Redemption Amount (Tax), the Optional Redemption Amount (Call), the Optional Redemption Amount (Put), the Early Termination Amount or such other amount in the nature of a redemption amount as may be specified in, or determined in accordance with the provisions of, the relevant Final Terms;

  • Maturity Redemption Payment means an amount per Deposit to which you are entitled on the Maturity Date based on the performance of the Reference Portfolio which is equal to your Principal Amount x (1 + Variable Return).

  • Early Redemption Amount (k means the "Early Redemption Amount (k)" as calculated or, respectively specified by the Calculation Agent pursuant to § 4 (2) of the Special Conditions.

  • Premium Due Date means date specified in the Schedule on which the Instalment Premium will become due.

  • Debit Payment means a particular transaction where a debit is made.

  • Installment Due Date means, for any monthly installment of interest-only or principal and interest, the date on which such monthly installment is due and payable pursuant to Section 3 of this Note.

  • Final Payment Date means the "Final Payment Date" as specified in § 1 of the Product and Underlying Data.

  • Next Payment Date means each date on which the next scheduled payment under any Transaction is due to be paid.

  • Premium Payment Date in respect of any Option, means the date on which the Premium is due and payable, as agreed to at the time the Option is entered into, as evidenced in a Confirmation.

  • Installment Payment has the meaning ascribed to it in Section 2.02(a).

  • Extended Due for Payment Date means, in relation to any Series of Covered Bonds, the date, if any, specified as such in the applicable Final Terms to which the payment of all or (as applicable) part of the Final Redemption Amount payable on the Final Maturity Date will be deferred in the event that the Final Redemption Amount is not paid in full on the Extension Determination Date.

  • Optional Interest Payment Date means any Interest Payment Date other than a Compulsory Interest Payment Date.

  • Additional Interest Payment Date With respect to the Initial Securities, each Interest Payment Date.

  • Monthly Redemption means the redemption of this Debenture pursuant to Section 6(b) hereof.

  • Interest Payment Amount With respect to each outstanding Class of Notes and any Payment Date, the Interest Accrual Amount for such Class of Notes, less any Modification Loss Amount for such Payment Date allocated to reduce the Interest Payment Amount owed for such Class of Notes pursuant to Section 3.03(f) hereof, or plus any Modification Gain Amount for such Payment Date allocated to increase the Interest Payment Amount owed for such Class of Notes pursuant to Section 3.03(g) hereof.

  • Additional Amount Payment means a payment to a Holder of MuniFund Term Preferred Shares of an amount which, when taken together with the aggregate amount of Taxable Allocations made to such Holder to which such Additional Amount Payment relates, would cause such Holder’s dividends in dollars (after federal income tax consequences) from the aggregate of such Taxable Allocations and the related Additional Amount Payment to be equal to the dollar amount of the dividends that would have been received by such Holder if the amount of such aggregate Taxable Allocations would have been excludable (for federal income tax purposes) from the gross income of such Holder. Such Additional Amount Payment shall be calculated (i) without A-1 consideration being given to the time value of money; (ii) assuming that no Holder of MuniFund Term Preferred Shares is subject to the federal alternative minimum tax with respect to dividends received from the Fund; and (iii) assuming that each Taxable Allocation and each Additional Amount Payment (except to the extent such Additional Amount Payment is designated as an exempt-interest dividend under Section 852(b)(5) of the Code) would be taxable in the hands of each Holder of MuniFund Term Preferred Shares at the maximum marginal regular federal individual income tax rate applicable to ordinary income or net capital gains, as applicable, or the maximum marginal regular federal corporate income tax rate applicable to ordinary income or net capital gains, as applicable, whichever is greater, in effect at the time such Additional Amount Payment is paid.

  • Note Payment Date means any date on which principal of or interest on any Note is payable.

  • First Payment Date shall have the meaning set forth in Section 5(b)(ii).