Calculation of Reconciliation Payment Amount Sample Clauses

Calculation of Reconciliation Payment Amount. To calculate the Reconciliation Payment Amount, Funder will calculate an "Average Monthly Income Change" by dividing by twelve (12) the difference between the Tax Return Individual Earned Income and the Total Estimated Individual Earned Income for the calendar year being reconciled. For each month in the calendar year being reconciled, Funder will add the Average Monthly Income Change amount to the Individual Earned Income Estimate value used to calculate the Monthly Payment Obligation for that month to determine a "Reconciled Individual Earned Income Estimate" for that month. If the Reconciled Individual Earned Income Estimate for such month is below the Lower Income Cut-Off defined in Sec. 11.3.1, or if such month is not covered by the Payment Window under this agreement, or the Student was in Payment Relief Pause during such month, the "Monthly Reconciliation Amount Owed" for that month is zero. Otherwise, Funder will calculate a Monthly Reconciliation Amount Owed for that month that is equal to the Reconciled Individual Earned Income Estimate multiplied by the Payment Percentage, and then subtracting the Monthly Payment Obligation that was already billed to the Student for that Month. The Reconciliation Payment Amount is the sum of the Monthly Reconciliation Amounts Owed for each month in the calendar year being reconciled.
Sample 1
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Related to Calculation of Reconciliation Payment Amount

  • Calculation of Liquidation Amount Upon the occurrence of a Liquidation Date:

  • Calculation of Termination Payment If an Early Termination Date has been declared, the Non-Defaulting Party shall calculate, in a commercially reasonable manner, the Termination Payment in accordance with this Section 10.3.

  • Payments from the Gross Settlement Amount The Administrator will make and deduct the following payments from the Gross Settlement Amount, in the amounts specified by the Court in the Final Approval:

  • Payment Amount Payment for the Services shall be as follows: (choose one) ☐ - $______________________ for the Services (“Payment”). ☐ - At an hourly rate of $____ per hour (“Payment”). ☐ - Other. ______________________________________________ (“Payment”) If the Subcontractor asserts a claim which involves, in whole or in part, acts or omissions which are the responsibility of the Client or another person for whom a claim may be submitted, including but not limited to, claims for failure to pay, an extension of time, impacts, delay damages, or extra work, the Contractor shall present the Subcontractor's claim to the Client or other responsible party provided the Subcontractor presents to Contractor competent supporting evidence and in sufficient time for the Contractor to do so. The Subcontractor shall cooperate fully with the Contractor in any and all steps the Contractor takes in connection with prosecuting such a claim and shall hold harmless and reimburse the Contractor for all expenses, including legal expenses, incurred by the Contractor which arise out of the Contractor's submission of the Subcontractor's claims to the Client or other responsible party(ies). The Subcontractor shall be bound by any adjudication or award in any action or proceeding resolving such a claim.

  • Payment of Settlement Amount (1) Within thirty (30) days of the Date of Execution, the Settling Defendants shall pay the Settlement Amount to Siskinds LLP, for deposit into the Trust Account.

  • Settlement Amount If the Non-Defaulting Party has declared an Early Termination Date pursuant to Section 7.2(b), the Non-Defaulting Party shall have the right to (i) accelerate all amounts owing between the Defaulting Party and the Non-Defaulting Party and to liquidate and terminate the undertakings set forth in this Agreement as between the Defaulting Party and the Non-Defaulting Party; and (ii) withhold any payments due to the Defaulting Party under this Agreement pending payment of the Termination Payment. The Non-Defaulting Party will calculate, in a commercially reasonable manner, the Settlement Amount with respect to the Defaulting Party’s obligations under the Agreement and shall net the Settlement Amount in the manner provided for in Section 7.3(c).

  • Interest Calculation Interest on the outstanding principal balance of the Loan shall be calculated by multiplying (a) the actual number of days elapsed in the period for which the calculation is being made by (b) a daily rate based on a three hundred sixty (360) day year by (c) the outstanding principal balance.

  • Gross Settlement Amount Except as otherwise provided by Paragraph 8 below, Defendant promises to pay $290,000.00 and no more as the Gross Settlement Amount and to separately pay any and all employer payroll taxes owed on the Wage Portions of the Individual Class Payments. Defendant has no obligation to pay the Gross Settlement Amount (or any payroll taxes) prior to the deadline stated in Paragraph 4.3 of this Agreement. The Administrator will disburse the entire Gross Settlement Amount without asking or requiring Participating Class Members or Aggrieved Employees to submit any claim as a condition of payment. None of the Gross Settlement Amount will revert to Defendant.

  • Termination Payment The final payment delivered to the Certificateholders on the Termination Date pursuant to the procedures set forth in Section 9.01(b).

  • Payment Calculation District shall pay Contractor at a rate of $ per . OR District shall pay Contractor as described in attached Exhibit A

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