Distribution of Surplus Sample Clauses

Distribution of Surplus. It is understood that surplus accumulations, if any, will be used only for the purpose of reducing premium costs. Surplus accumulations must be disposed of within reasonable time limits. Questions in this respect will be referred to the Joint Welfare Board for decision.

Distribution of Surplus. The current practice for surpluses generated by the Health and Welfare Trust is for both parties to take a contribution holiday. It is agreed that the Union may use employee surpluses or increased employee contributions to improve benefits provided by the Health and Welfare Trust. Such benefits must be pooled separately in such a way that the additional benefits paid for by employees do not impact on the present or future experience of the base plan such that the Company’s present or future costs would be increased.

Distribution of Surplus. The current practice for surpluses generated by the Health and Welfare Trust is for both parties to take a contribution holiday. It is agreed that the Union may use employee surpluses or increased employee contributions to improve benefits provided by the Health and Welfare Trust. Such funds must be pooled separately in such a way that the additional benefits paid for by employees do not impact on the present or future experience of the base plan such that the employer’s present or future costs would be increased. It is understood that surplus accumulations, if any, will be used only for the purpose of reducing premium costs. Surplus accumulations must be disposed of within reasonable time limits.

Distribution of Surplus. The balance of the award in respect of the Unit, if any, shall be distributed to the Owner of the Unit and to each mortgagee of the Unit, the remittance being made payable jointly to the Owner and such mortgagees.

Distribution of Surplus. 8.1 In September of each year the accumulated surplus identified in clause 7.3(b) shall be distributed in accordance with the relevant provisions of this clause 8. 8.2 NOT USED The accumulated surplus identified for distribution in September 2012 shall be distributed to each Member Authority in accordance with clause 8.5. 8.3 NOT USED The accumulated surplus identified for distribution in September 2013 shall be distributed to each Member Authority in proportions calculated using the arithmetic mean of the proportions identified by the distribution method stated in clause 8.5 and proportions identified by the distribution method stated in clause 8.6 8.4 NOT USED The accumulated surplus identified for distribution in September 2014 and in September of each subsequent year during the term of this Agreement shall be distributed to each Member Authority in accordance with clause 8.6. 8.5 NOT USED In respect of clause 8.2 the balance of the accumulated surplus shall be distributed as follows: a) the proportion of the accumulated surplus identified as arising from sales and receipts generated by transactions other than with a Member Authority shall be divided and distributed between the Member Authorities in equal shares (which for the avoidance of doubt shall be a 25% share for each of the Member Authorities) b) the amount of the accumulated surplus identified which is attributable to the use of WME (or its predecessor West Mercia Supplies) by transactions with the Member Authorities shall be divided between the Member Authorities in a ratio equal and rounded to the nearest 0.5% percentile equivalent of their respective previous five year purchasing history of each Member Authority from WME (or its predecessor West Mercia Supplies) 8.6 In respect of clause 8.4 t The balance of the accumulated surplus identified for distribution shall be divided and distributed to each Member Authority as follows: a) each Member Authority shall receive a percentage share of the accumulated surplus identified for distribution arising from transactions with the Member Authorities calculated in accordance with the percentage of the gross profit generated by the receiving Member Authority’s transactions with WME during the financial year prior to the date of distribution; and b) each Member Authority shall receive 25% of the accumulated surplus identified for distribution generated by transactions with non-Member Authority customers during the financial year prior to the date of dis...

Distribution of Surplus. In each year the accumulated surplus identified in clause 7.3(b) shall be distributed in accordance with the relevant provisions of this clause 8.

Distribution of Surplus. It is understood that surplus accumulations, if any, will

Distribution of Surplus. (1) If a creditor has sold consumer goods under section 26 or section 32, the credit- or must pay the following persons the amount of any surplus by satisfying the claims of those persons in the following order: (a) any person who has registered a financing statement in the name of the debtor over the consumer goods that are sold where— (i) the registration was effective immediately before the consumer goods were sold; and (ii) the security interest relating to that registration was subordinate to the security interest of the creditor who sold the consumer goods: (b) any other person who has given the creditor notice that that person claims an interest in the consumer goods that are sold and in respect of which the creditor is satisfied that that person has a legally enforceable interest in the consumer goods: (c) the debtor. (2) The security interests to which subsection (1)(a) applies must be paid in the order of their priority as determined by Part 7 or Part 8 of the Personal Property Securities Act 1999. (3) Subsection (1) applies despite the extinguishment of a security interest under section 32B. Compare: Personal Property Security Act 1993 s 60(2) (Saskatchewan) Section 34: substituted, on 1 May 2002, by section 9 of the Credit (Repossession) Amendment Act 1999 (1999 No 127). (1) The creditor may pay the surplus into court if there is a question as to who is entitled to receive payment under section 34. (2) The surplus may be paid out only on an application by a person claiming an entitlement to the surplus. Compare: Personal Property Security Act 1993 s 60(4) (Saskatchewan) Section 34A: inserted, on 1 May 2002, by section 9 of the Credit (Repossession) Amendment Act 1999 (1999 No 127). The persons referred to in section 34 are entitled to recover the amount of any surplus from the creditor. Section 34B: inserted, on 1 May 2002, by section 9 of the Credit (Repossession) Amendment Act 1999 (1999 No 127).

Distribution of Surplus. 10.1. Any dividends of the Company shall, subject to mandatory provisions of Belgian law, be distributed to the Shareholders in proportion to their respective shareholdings from time to time in the Company. The Shareholders undertake to vote in favour of any distribution of dividends by the Company to the extent that the financial means so distributed are not reasonably required or necessary for the operation of the Company (taking into account that part of the Hire to be received by the Company under the Charter was prepaid to the Company) and always provided that any amounts due under the Shareholders Loans have been repaid. In this context, the Shareholders further undertake to repay all debt (including the Shareholders Loans) as soon as possible, taking into account the Company’s financial means not reasonably required or necessary for the operation of the Company (taking into account that a part of the Hire to be received by the Company under the Charter was prepaid to the Company). Any disagreement respecting the question whether the financial means so distributed are not reasonably required or necessary for the operation of the Company, shall be resolved by the Shareholders and subject to the provisions of Article 9.2.

Distribution of Surplus. 10.1. Any dividends of the Company shall, subject to mandatory provisions of Belgian law, be distributed to the Shareholders in proportion to their respective shareholdings from time to time in the Company. The Shareholders undertake to vote in favour of any distribution of dividends by the Company to the extent that the financial means so distributed are not reasonably required or necessary for the operation of the Company (taking into account that part of the Hire to be received by the Company under the Charter was prepaid to the Company) and always provided that any amounts due under the Shareholders Loans have been repaid. In this context, the Shareholders further undertake to repay all debt (including the Shareholders Loans) as soon as possible, taking into account the Company’s financial means not reasonably required or necessary for the operation of the Company (taking into account that a part of the Hire to be received by the Company under the Charter was prepaid to the Company). Any disagreement respecting the question whether the financial means so distributed are not reasonably required or necessary for the operation of the Company, shall be resolved by the Shareholders and subject to the provisions of Article 9.2. 10.2. If the Ship is sold and all liabilities are discharged in respect of the Ship (for sake of clarity including the obligations on the Shareholders Loans and the repayment of any Hire prepaid under the Charter) and the Company, the balance of the funds remaining (after repayment of the Shareholders Loans and possible repayment of prepaid Hire under the Charter) will be distributed to the Shareholders, subject to mandatory provisions of Belgian law.