Additional Funding; Excess Assets Sample Clauses

Additional Funding; Excess Assets. Unless the Trust Funds have been released to the Company pursuant to Section 5.4, the Company shall, as soon as practicable after the end of each Fiscal Year, recalculate the amount determined under accepted actuarial principles to be necessary to fund any amounts payable to the Executive under the Employment Agreement, in accordance with any Payment Schedule delivered to the Trustee pursuant to Sections 4.1 and 4.2 during the most recently completed Fiscal Year (herein referred to as the "Aggregate Payment Obligation"). If the Aggregate Payment Obligation exceeds the fair market value of the Trust Funds at the end of the most recently completed Fiscal Year, then there exists a funding deficiency to the extent of such excess; and the Company shall contribute to the Trustee no later than 90 days after the end of such Fiscal Year additional cash or property having a fair market value equal to the amount of the funding deficiency. If the fair market value of the Trust Funds at the end of the most recently completed Fiscal Year is more than 125% of the Aggregate Payment Obligation, then there is an overfunding to the extent of such excess; and the Trustee shall as soon as practicable after the determination that an overfunding exists distribute to the Company cash or other property having a fair market value equal to the amount of the overfunding in excess of such 125%.
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Additional Funding; Excess Assets. ... 7 5.4 Release of Trust Funds Unless a Change of Control Occurs............ 7 5.5 Transfer to Another Trustee........... 8 ARTICLE VI Status of Trust and Trustee Responsibility When the Company is Insolvent................... 8 6.1
Sample 1
Additional Funding; Excess Assets. Unless the Trust Funds contributed to the Trustee pursuant to the last sentence of Section 5.2 have been released to the Participating Employers pursuant to Section 5.4, the Company shall, as soon as practicable after the end of each Fiscal Year, recalculate the amount determined under accepted actuarial principles to be necessary to fund the amounts payable to Executives under all Plans and in accordance with the Payment Schedules for Executives delivered to the Trustee pursuant to Sections 4.1 and 4.2 through the end of the most recently completed Fiscal Year (herein referred to as the "Aggregate Payment Obligation"). The calculation shall be made by the Company for each Sub-trust on a separate and independent basis; it being understood that for the purposes of funding, contributions, and distributions by, or for the benefit of, a Participating Employer the assets of the Sub-trusts are separate and distinct and no Participating Employer has any interest, right, or claim to any assets held in the Sub-trust of another Participating Employer. If the Aggregate Payment Obligation of a Participating Employer exceeds the fair market value of the assets in the Sub-trust of such Participating Employer at the end of the most recently completed Fiscal Year, then there exists a funding deficiency to the extent of such excess; and such Participating Employer shall by no later than 90 days after the end of such Fiscal Year contribute to the Trustee additional cash or property having a fair market value equal to the amount of the funding deficiency in the particular Sub-trust. If the fair market value of assets in a Sub-trust at the end of the most recently completed Fiscal Year is more than 125% of the Aggregate Payment Obligation of the Participating Employer, then there is an overfunding in such Sub-trust to the extent of such excess; and the Trustee shall as soon as practicable after the determination that an overfunding exists distribute cash or other
Sample 1
Additional Funding; Excess Assets. ... 5 5.4 Release of Trust Funds Unless a Change of Control Occurs............ 6 5.5
Sample 1
Additional Funding; Excess Assets. Unless the Trust Funds have been released to the Company pursuant to Section 5.4, the Company shall, as soon as practicable after the end of each Fiscal Year, recalculate the amount determined under accepted actuarial principles to be necessary to fund any amounts payable to the Executive under the Employment Agreement, in accordance with any Payment Schedule delivered to the Trustee pursuant to Sections 4.1 and 4.2 during the most recently completed Fiscal Year (herein referred to as the "Aggregate Payment Obligation"). If the Aggregate Payment Obligation exceeds the fair market value of the Trust Funds at the end of
Sample 1
Additional Funding; Excess Assets. Unless the Trust Funds contributed to the Trustee pursuant to the last sentence of Section 5.2 have been released to the Company pursuant to Section 5.4, the Company shall, as soon as practicable after the end of each Fiscal Year, recalculate the amount determined under accepted actuarial principles to be necessary to fund the amounts payable to the Executives under all Plans and in accordance with the Payment Schedules for the Executives delivered to the Trustee pursuant to Section 4.1 and 4.2 through the end of the most recently completed Fiscal Year (herein referred to as the "Aggregate Payment Obligation"). If the Aggregate Payment Obligation exceeds the fair market value of the assets in the Trust at the end of the most recently completed Fiscal Year, then there exists a funding deficiency to the extent of such excess; and the Company shall by no later than 90 days after the end of such Fiscal Year contribute to the Trustee additional cash or property having a fair market value equal to the amount of the funding deficiency. If the fair market value of assets in the Trust at the end of the most recently completed Fiscal Year is more than 125% of the Aggregate Payment Obligation, then there is an overfunding to the extent of such excess; and the Trustee shall as soon as practicable after the determination that an overfunding exists distribute cash or other property to the Company having a fair market value equal to the amount by which the fair market value of Trust assets exceeds 125% of the Aggregate Payment Obligation.
Sample 1

Related to Additional Funding; Excess Assets

  • Additional Funding If the General Partner determines that it is in the best interests of the Partnership to provide for additional Partnership funds (“Additional Funds”) for any Partnership purpose, the General Partner may (i) cause the Partnership to obtain such funds from outside borrowings, or (ii) elect to have the General Partner or any of its Affiliates provide such Additional Funds to the Partnership through loans or otherwise.

  • Additional Funds An additional Fund or Funds may become a party to this Agreement after the date hereof by an instrument in writing to such effect signed by such Fund or Funds and the Custodian. If this Agreement is terminated as to one or more of the Funds (but less than all of the Funds) or if an additional Fund or Funds shall become a party to this Agreement, there shall be delivered to each party an Appendix B or an amended Appendix B, signed by each of the additional Funds (if any) and each of the remaining Funds as well as the Custodian, deleting or adding such Fund or Funds, as the case may be. The termination of this Agreement as to less than all of the Funds shall not affect the obligations of the Custodian and the remaining Funds hereunder as set forth on the signature page hereto and in Appendix B as revised from time to time.

  • Additional Funds and Portfolios In the event that any management investment company in addition to those listed on Appendix A hereto desires to have the Custodian render services as custodian under the terms hereof, it shall so notify the Custodian in writing, and if the Custodian agrees in writing to provide such services, such management investment company shall become a Fund hereunder and be bound by all terms and conditions and provisions hereof including, without limitation, the representations and warranties set forth in Section 20.6 below. In the event that any Fund establishes one or more series of Shares in addition to those set forth on Appendix A hereto with respect to which it desires to have the Custodian render services as custodian under the terms hereof, it shall so notify the Custodian in writing, and if the Custodian agrees in writing to provide such services, such series of Shares shall become a Portfolio hereunder.

  • Additional Funding and Capital Contributions If the Board of the Company or Haimeng at any time or from time to time determines that funding and/ or capital contributions to the Company or Haimeng are necessary to conduct the Company’s or Haimeng’s business activities, then:

  • Notional Funding Each Bank shall have the right from time to time, without notice to any Borrower, to deem any branch, Subsidiary or Affiliate (which for the purposes of this Section 11.5 shall mean any corporation or association which is directly or indirectly controlled by or is under direct or indirect common control with any corporation or association which directly or indirectly controls such Bank) of such Bank to have made, maintained or funded any Loan to which the Euro-Rate Option applies at any time, provided that immediately following (on the assumption that a payment were then due from the Borrowers to such other office), and as a result of such change, the Borrowers would not be under any greater financial obligation pursuant to Section 5.5 than they would have been in the absence of such change. Notional funding offices may be selected by each Bank without regard to the Bank’s actual methods of making, maintaining or funding the Loans or any sources of funding actually used by or available to such Bank.

  • Designation of Additional Amounts to Be Included in the Excess Spread Amount for the DiscoverSeries Notes At any time that any outstanding Series of certificates issued by the Master Trust provides that the Series Principal Collections allocated to such Series will be deposited into the Group Finance Charge Collections Reallocation Account for the Master Trust to the extent necessary for application to cover shortfalls for other Series issued by the Master Trust, an amount equal to (x) all Series Principal Collections allocated to such Series, multiplied by (y) a fraction, the numerator of which is the sum of the Nominal Liquidation Amounts for each outstanding Tranche of the DiscoverSeries Notes (including these notes) and the denominator of which is (i) the Aggregate Investor Interest for the Master Trust minus (ii) the sum of the Series Investor Interests for all such Series that provide that the Series Principal Collections allocated to such Series will be so deposited, is hereby designated to be included in the Excess Spread Amount and shall be treated as Series Finance Charge Amounts for the DiscoverSeries.

  • Initial Funding The obligation of the Lenders to make the Initial Funding is subject to the receipt by the Agent and the Lenders of all fees payable pursuant to Section 2.04 on or before the Closing Date and the receipt by the Agent of the following documents and satisfaction of the other conditions provided in this Section 6.01, each of which shall be satisfactory to the Agent in form and substance:

  • Additional Funds and Capital Contributions .. 22 Section 4.4 Stock Option Plan................................... 23 Section 4.5 No Interest; No Return.............................. 24 Section 4.6 Conversion or Redemption of Preferred Shares........ 24

  • Realization Upon Defaulted Mortgage Loans; Repurchase of Certain Mortgage Loans (a) Each Servicer shall use reasonable efforts to foreclose upon or otherwise comparably convert the ownership of properties securing such of the related Non-Designated Mortgage Loans as come into and continue in default and as to which no satisfactory arrangements can be made for collection of delinquent payments. In connection with such foreclosure or other conversion, each Servicer shall take such action as (i) such Servicer would take under similar circumstances with respect to a similar mortgage loan held for its own account for investment, (ii) shall be consistent with Accepted Servicing Practices, (iii) such Servicer shall determine consistently with Accepted Servicing Practices to be in the best interest of the Trust Fund and Certificateholders, and (iv) is consistent with the requirements of the insurer under any Required Insurance Policy; provided, however, that such Servicer shall not be required to expend its own funds in connection with any foreclosure or towards the restoration of any property unless it shall determine (i) that such restoration and/or foreclosure will increase the proceeds of liquidation of the related Non-Designated Mortgage Loan after reimbursement to itself of such expenses and (ii) that such expenses will be recoverable to it through Liquidation Proceeds. Any funds expended by any Servicer pursuant to this Section 3.11(a) shall be reimbursable in full pursuant to Section 3.08(a)(iii). The related Servicer shall be responsible for all other costs and expenses incurred by it in any such proceedings; provided, however, that it shall be entitled to reimbursement thereof from the Liquidation Proceeds with respect to the related Mortgaged Property or otherwise as a Servicing Advance in accordance with Section 3.08(a). With respect to any Non-Designated Mortgage Loan, notwithstanding anything to the contrary contained in this Agreement, in connection with a foreclosure or acceptance of a deed in lieu of foreclosure, in the event the related Servicer has reasonable cause to believe that the related Mortgaged Property is contaminated by hazardous or toxic substances or wastes, or if the Trust Administrator otherwise requests, an environmental inspection or review of such Mortgaged Property conducted by a qualified inspector shall be arranged for by such Servicer. Upon completion of the inspection, the related Servicer shall promptly provide the Trust Administrator with a written report of environmental inspection. In the event the environmental inspection report indicates that the Mortgaged Property is contaminated by hazardous or toxic substances or wastes, the related Servicer shall not proceed with foreclosure or acceptance of a deed in lieu of foreclosure if the estimated costs of the environmental clean up, as estimated in the environmental inspection report, together with the Servicing Advances and Advances made such Servicer and the estimated costs of foreclosure or acceptance of a deed in lieu of foreclosure exceeds the estimated value of the Mortgaged Property. If however, the aggregate of such clean up and foreclosure costs, Advances and Servicing Advances are less than or equal to the estimated value of the Mortgaged Property, then the related Servicer may, in its reasonable judgment and in accordance with Accepted Servicing Practices, choose to proceed with foreclosure or acceptance of a deed in lieu of foreclosure and such Servicer shall be reimbursed for all reasonable costs associated with such foreclosure or acceptance of a deed in lieu of foreclosure and any related environmental clean up costs, as applicable, from the related Liquidation Proceeds, or if the Liquidation Proceeds are insufficient to fully reimburse such Servicer, such Servicer shall be entitled to be reimbursed from amounts in the related Collection Account pursuant to Section 3.08(a) hereof. In the event the related Servicer does not proceed with foreclosure or acceptance of a deed in lieu of foreclosure pursuant to the first sentence of this paragraph, such Servicer shall be reimbursed for all Advances and Servicing Advances made with respect to the related Mortgaged Property from the related Collection Account pursuant to Section 3.08(a) hereof, and such Servicer shall have no further obligation to service such Non-Designated Mortgage Loan under the provisions of this Agreement.

  • Excess Spread; Excess Finance Charge Collections The Servicer shall apply, or shall cause the Trustee to apply by written instruction to the Trustee, on each Distribution Date, Excess Spread and Excess Finance Charge Collections allocated to Series 1997-1 with respect to the related Monthly Period, to make the following distributions or deposits in the following order of priority:

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