Determination of Benefit. The Board of Directors, partners, members, or other managers or owners of each Guarantor, acting pursuant to a duly called and constituted meeting, after proper notice, or pursuant to a valid unanimous consent, has determined that this Guaranty directly or indirectly benefits such Guarantor and is in the best interests of such Guarantor;
Determination of Benefit. The Partners of Staktek Group L.P., acting pursuant to a duly called and constituted meeting, after proper notice, or pursuant to a valid unanimous consent, have determined that this Guaranty Agreement directly or indirectly benefits the Guarantor and is in the best interests of Guarantor. Guarantor and Borrower are mutually dependent on each other in the conduct of their respective businesses and are an integrated business enterprise. The maintenance and improvement of Borrower’s financial condition is vital to sustaining Guarantor’s business and the transactions contemplated in the Loan Agreement produce distinct and identifiable financial and economic direct or indirect benefits to Guarantor. Such identifiable benefits include the general improvement of Guarantor’s financial and economic condition.
Determination of Benefit. In the course of establishing each Development Plan in accordance with Article 2 hereof, the Parties agree to estimate their proportionate benefit in the applicable Improvements or New Technologies by estimating:
Determination of Benefit. The Guarantor has determined that this Guaranty directly or indirectly benefits the Guarantor and is in the best interest of Guarantor;
Determination of Benefit. The pension benefit of a Member who is Disabled shall be determined and paid in accordance with the applicable provisions of the Plan upon the earliest of the Member's date of termination of Continuous Service, Normal Retirement Date and date of death, based upon the Member's Pensionable Service and Final Average Earnings as of such date.
Determination of Benefit. The disability benefit will be payable in equal monthly installments for the life of the Executive, with the monthly payment amount computed with a standard annuity payment calculation using the following variables: Discount rate: eight percent (8%) per annum. Number of payments: 240. Present value: the sum of (a) the present value of the Executive’s fully vested benefit liability reserve account as of the last day of the calendar month immediately preceding the determination of permanent disability; plus (b) the amount the would be earned (from of the last day of the calendar month immediately preceding the determination of permanent disability until the Executive’s Normal Retirement Date) if the value of this benefit liability reserve account were invested in a security with an annual interest rate equivalent to the one-year constant maturity U.S. Treasury index rate (one-year CMT), reset annually on January 1 of each year, credited and compounded monthly. Benefit payments shall commence within sixty (60) days after the Executive’s Normal Retirement Date. If the Executive dies after payments have begun and less than two hundred forty (240) monthly payments have been made, the Bank shall continue such monthly payments to the Executive’s designated beneficiary(ies) until two hundred forty (240) monthly payments have been made. In the absence of any effective designation of beneficiary by the Executive, any such amounts shall be payable to the duly qualified executor or administrator of his estate.
Determination of Benefit. The early termination benefit will be payable in equal monthly installments for a period of two hundred forty (240) months, with the monthly payment amount computed with a standard annuity payment calculation using the following variables: Discount rate: eight percent (8%) per annum. Number of payments: 240. Present value: the sum of (a) the present value of the Executive’s vested liability reserve account as of the last day of the calendar month immediately preceding termination, plus (b) the amount the would be earned (from of the last day of the calendar month immediately preceding termination until the Executive’s Normal Retirement Date) if the vested value of this benefit liability reserve account were invested in a security with an annual interest rate equivalent to the one-year CMT, reset annually on January 1 of each year, credited and compounded monthly. Benefit payments shall commence within sixty (60) days after the Executive’s Normal Retirement Date. If the Executive dies after payments have begun and less than two hundred forty (240) monthly payments have been made, the Bank shall continue such monthly payments to the Executive’s designated beneficiary(ies) until two hundred forty (240) monthly payments have been made. In the absence of any effective designation of beneficiary by the Executive, any such amounts shall be payable to the duly qualified executor or administrator of his estate.
Determination of Benefit. Except as expressly provided herein, whenever ------------------------- under this Program it is necessary to determine whether one benefit is less than, equal to, or larger than another, or to determine the equivalent actuarial value of any benefit, whether or not such benefits are provided under this Program, such determination shall be made by the Company using mortality, interest, and other assumptions normally used at the time in determining actuarial equivalence under the Retirement Plan.
Determination of Benefit. Excess Retirement Benefit payments under this Article 3 shall be calculated in accordance with the rules, procedures, and assumptions utilized under the Retirement Income Plan or the Pension Plan, whichever is applicable. Thus, whenever it is necessary to determine whether one benefit is less than, equal to, or larger than another, or to determine the equivalent actuarial value of any benefit, whether or not such form of benefit is provided under this Plan, such determination shall be made, at the Administrator’s discretion, by the Company’s enrolled actuary, using mortality, interest and other assumptions normally used at the time in determining actuarial equivalence under the Retirement Income Plan or Pension Plan, whichever is applicable.
Determination of Benefit. The Accrued Benefit of a Member who has ------------------------ attained a Retirement Date or has attained Normal Retirement Age shall be fully vested and nonforfeitable. As of a Member's Retirement Date while an Employee, he shall be entitled to his Accrued Benefit to be paid in accordance with this Plan Section 9. The Accrued Benefit of a Member which is to be paid under this Section 9 shall be determined as of the Valuation Date coinciding with or immediately preceding the date the Accrued Benefit is valued for imminent payout purposes pursuant to normal administrative procedures, and shall be increased by any amounts allocated to the Member's Account after that Valuation Date and reduced by any distributions made from the Member's account after that Valuation Date.
