Distribution of Excess Funds Sample Clauses

Distribution of Excess Funds. If the payment per employee so described in C above, does not cover the premiums down to the minimum monthly amount described in 4-b immediately above, for the approved medical plans, said employee may be eligible for additional District contributions to his/her premium cost in accordance with the following:
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Distribution of Excess Funds. The distributions of Excess Funds to the Enterprise pursuant to this Section 5 shall be deposited in the Enterprise's bank account specified by the Enterprise in a notice to Manager pursuant to Section 8.2.
Sample 1
Distribution of Excess Funds. Upon completion of the Work, or upon sooner termination of this Agreement, and after payment of all outstanding costs and expenses incurred by the Work Group in furtherance of this Agreement, the Steering Committee shall distribute any excess funds remaining in the Work Group account to the Members in proportion to their respective allocated share of responsibility to pay Shared Costs.
Sample 1
Distribution of Excess Funds. ‌ If any excess funds remain in the Settlement Fund after all distributions have been made in accordance with this Settlement Agreement, those funds shall be used in the first instance to reimburse EWS for any costs of administration of this Settlement Agreement, the amounts of which will be subject to verification by submission of invoices to the Settlement Administrator and to Class Counsel. Following that distribution, if any excess funds remain in the Settlement Fund, the Settlement Administrator shall distribute any remaining balance as a cy pres donation to the Arizona chapter of Junior Achievement. Under no circumstances will any other funds revert to EWS.
Sample 1
Distribution of Excess Funds. If any funds remain, the Watershed District will allocate the funds as a refund to the Project Cooperators according to the cost-share allocation in Section 10.2. The Watershed District will then pay the refunds to the Project Cooperators, or at a Project Cooperator’s direction, will apply the refund as a credit against that Project Cooperator’s next annual Operation And Maintenance Fund payment.
Sample 1
Distribution of Excess Funds. If any excess funds remain in the Settlement Fund after all distributions have been made in accordance with this Settlement Agreement, the Settlement Administrator shall distribute any remaining balance as a cy pres donation as follows: fifty percent (50%) to Public Justice, and fifty percent (50%) to YWCA Economic Resilience Initiative.
Sample 1

Related to Distribution of Excess Funds

  • Distribution of Excess Contributions If the Advisory Committee determines the Plan fails to satisfy the ADP test for a Plan Year, it must distribute the excess contributions, as adjusted for allocable income, during the next Plan Year. However, the Employer will incur an excise tax equal to 10% of the amount of excess contributions for a Plan Year not distributed to the appropriate Highly Compensated Employees during the first 2 1/2 months of that next Plan Year. The excess contributions are the amount of deferral contributions made by the Highly Compensated Employees which causes the Plan to fail to satisfy the ADP test. The Advisory Committee will distribute to each Highly Compensated Employee his respective share of the excess contributions. The Advisory Committee will determine the respective shares of excess contributions by starting with the Highly Compensated Employee(s) who has the greatest ADP, reducing his ADP (but not below the next highest ADP), then, if necessary, reducing the ADP of the Highly Compensated Employee(s) at the next highest ADP level (including the ADP of the Highly Compensated Employee(s) whose ADP the Advisory Committee already has reduced), and continuing in this manner until the average ADP for the Highly Compensated Group satisfies the ADP test. If the Highly Compensated Employee is part of an aggregated family group, the Advisory Committee, in accordance with the applicable Treasury regulations, will determine each aggregated family member's allocable share of the excess contributions assigned to the family unit.

  • DISTRIBUTION OF EXCESS AGGREGATE CONTRIBUTIONS The Advisory Committee will determine excess aggregate contributions after determining excess deferrals under Section 14.07 and excess contributions under Section 14.08. If the Advisory Committee determines the Plan fails to satisfy the ACP test for a Plan Year, it must distribute the excess aggregate contributions, as adjusted for allocable income, during the next Plan Year. However, the Employer will incur an excise tax equal to 10% of the amount of excess aggregate contributions for a Plan Year not distributed to the appropriate Highly Compensated Employees during the first 2 1/2 months of that next Plan Year. The excess aggregate contributions are the amount of aggregate contributions allocated on behalf of the Highly Compensated Employees which causes the Plan to fail to satisfy the ACP test. The Advisory Committee will distribute to each Highly Compensated Employee his respective share of the excess aggregate contributions. The Advisory Committee will determine the respective shares of excess aggregate contributions by starting with the Highly Compensated Employee(s) who has the greatest contribution percentage, reducing his contribution percentage (but not below the next highest contribution percentage), then, if necessary, reducing the contribution percentage of the Highly Compensated Employee(s) at the next highest contribution percentage level (including the contribution percentage of the Highly Compensated Employee(s) whose contribution percentage the Advisory Committee already has reduced), and continuing in this manner until the ACP for the Highly Compensated Group satisfies the ACP test. If the Highly Compensated Employee is part of an aggregated family group, the Advisory Committee, in accordance with the applicable Treasury regulations, will determine each aggregated family member's allocable share of the excess aggregate contributions assigned to the family unit.

  • Distribution of Exchange Fund to Parent Any portion of the Exchange Fund that remains undistributed to the holders of the Certificates or Uncertificated Shares on the date that is one year after the Effective Time will be delivered to Parent upon demand, and any holders of shares of Company Common Stock that were issued and outstanding immediately prior to the Merger who have not theretofore surrendered or transferred their Certificates or Uncertificated Shares representing such shares of Company Common Stock for exchange pursuant to this Section 2.9 will thereafter look for payment of the Per Share Price payable in respect of the shares of Company Common Stock represented by such Certificates or Uncertificated Shares solely to Parent (subject to abandoned property, escheat or similar Laws), solely as general creditors thereof, for any claim to the Per Share Price to which such holders may be entitled pursuant to Section 2.7.

  • Distribution of Cash (a) The Partnership shall distribute cash on a quarterly (or, at the election of the General Partner, more frequent) basis, in an amount determined by the General Partner in its sole and absolute discretion, to the Partners who are Partners on the Partnership Record Date with respect to such quarter (or other distribution period) in accordance with Section 5.2(b).

  • Permitted Withdrawals from the Collection Account The Servicer may, from time to time, withdraw funds from the Collection Account for the following purposes:

  • Permitted Withdrawals from the Collection Account and Distribution Account (a) The Master Servicer may from time to time make withdrawals from the Collection Account for the following purposes:

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