Floating Weeks must be reserved each calendar year for the next calendar year upon availability Sample Clauses

Floating Weeks must be reserved each calendar year for the next calendar year upon availability. Choice of Floating Weeks will be given to Owners in the order of the Intervals on the following rotational basis: All Owners will have first choice in either the Fall and Winter weeks or the Spring and Additional Weeks every five years. Specific Owner choice position for their Fall/Winter and Spring/Additional Weeks each year is determined by their specific Interval number stipulated in their Owner’s Purchase Contract or their Transfer, Assumption and Consent Agreement. Using the Interval Rotation Chart (below) and matching the Owner’s assigned Cottage Number with their Interval Number will identify the specific chart Row (referenced by the “Common Interval Reference Letter” column) which will identify the owner’s specific choice position in a perpetual calendar that will repeat every 10 years. **Save and except for a special Purchase Agreement entitlement whereby Cottage 4 Fixed Summer Week 1 Owner shall have the right each calendar year to reserve and combine Spring Week 10 with their Fixed Summer Week 1 prior to the release of the Floating Week Selection Process for Cottage 4. Should the Cottage 4 Fixed Summer Week 1 Owner forfeit this right in any particular year, their choice for a Spring Floating Week will then be made according to their interval and position on the Interval Rotational Chart for Cottage 4.
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Floating Weeks must be reserved each calendar year for the next calendar year upon availability. Choice of Floating Weeks will be given to Owners in the order of the Intervals on the following rotational basis: All Owners will have first choice in either the Fall and Winter weeks or the Spring and Additional Weeks every five years. Specific Owner choice position for their Fall/Winter and Spring/Additional Weeks each year is determined by their specific Interval number stipulated in their Owner’s Purchase Contract or their Transfer, Assumption and Consent Agreement. Using the Interval Rotation Chart (below) and matching the Owner’s assigned Cottage Number with their Interval Number will identify the specific chart Row (referenced by the “Common Interval Reference Letter” column) which will identify the owner’s specific choice position in a perpetual calendar that will repeat every 10 years. **Save and except for a special Purchase Agreement entitlement whereby Cottage 4 Fixed Summer Week 1 Owner shall have the right each calendar year to reserve and combine Spring Week 10 with their Fixed Summer Week 1 prior to the release of the Floating Week Selection Process for Cottage 4. Should the Cottage 4 Fixed Summer Week 1 Owner forfeit this right in any particular year, their choice for a Spring Floating Week will then be made according to their interval and position on the Interval Rotational Chart for Cottage 4. Reservation of floating weeks is administered prior to the Thanksgiving Holiday each calendar year. The following are the Rules for your use and enjoyment of your Cottage at Inaski Shores. (A) Treat your other Cottage Owners as you would want them to treat you. This will enhance both the enjoyment of your vacation and that of others. Making new friends is one of the benefits of vacation ownership. Treating others with care and consideration will also enhance this aspect of your vacation. (B) You are an owner; the way you care for Inaski Shores will play an important part in protecting its value. Inaski Shores is a blend of both beautiful and functional surroundings. Therefore, we are certain you will want to maintain and care for your waterfront community, enabling you to enjoy your vacation to the fullest while protecting its value in the years to come. Terms defined in the Inaski Shores Owners Agreement shall have the same meaning here in these Rules. “You” means each Owner and occupant.
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Related to Floating Weeks must be reserved each calendar year for the next calendar year upon availability

  • Adjustment of Minimum Quarterly Distribution and Target Distribution Levels (a) The Minimum Quarterly Distribution, First Target Distribution, Second Target Distribution, Third Target Distribution, Common Unit Arrearages and Cumulative Common Unit Arrearages shall be proportionately adjusted in the event of any distribution, combination or subdivision (whether effected by a distribution payable in Units or otherwise) of Units or other Partnership Securities in accordance with Section 5.10. In the event of a distribution of Available Cash that is deemed to be from Capital Surplus, the then applicable Minimum Quarterly Distribution, First Target Distribution, Second Target Distribution and Third Target Distribution, shall be adjusted proportionately downward to equal the product obtained by multiplying the otherwise applicable Minimum Quarterly Distribution, First Target Distribution, Second Target Distribution and Third Target Distribution, as the case may be, by a fraction of which the numerator is the Unrecovered Capital of the Common Units immediately after giving effect to such distribution and of which the denominator is the Unrecovered Capital of the Common Units immediately prior to giving effect to such distribution. (b) The Minimum Quarterly Distribution, First Target Distribution, Second Target Distribution and Third Target Distribution, shall also be subject to adjustment pursuant to Section 6.9.

  • Calendar Year Calendar Year" for the purposes of this Agreement shall mean the twelve (12) month period from January 1st to December 31st, inclusive.

  • End of Fiscal Years; Fiscal Quarters The Borrower will cause (i) its and each of its Domestic Subsidiaries’ fiscal years to end on December 31 of each calendar year and (ii) its and each of its Domestic Subsidiaries’ fiscal quarters to end on March 31, June 30, September 30 and December 31 of each calendar year.

  • How are Required Minimum Distributions Computed A required minimum distribution (“RMD”) is determined by dividing the account balance (as of the prior calendar year end) by the distribution period. For lifetime RMDs, there is a uniform distribution period for almost all IRA owners of the same age. The uniform distribution period table is based on the joint life and last survivor expectancy of an individual and a hypothetical beneficiary 10 years younger. However, if the IRA owner’s sole beneficiary is his/her spouse and the spouse is more than 10 years younger than the account owner, then a longer distribution period based upon the joint life and last survivor life expectancy of the IRA owner and spouse will apply. An IRA owner may, however, elect to take more than his/her RMD at any time.

  • Required Minimum Distributions You are required to take minimum distributions from your IRA at certain times in accordance with Treasury Regulation 1.408-8. Below is a summary of the IRA distribution rules. 1. If you were born before July 1, 1949, you are required to take a minimum distribution from your IRA for the year in which you reach age 70½ and for each year thereafter. You must take your first distribution by your required beginning date, which is April 1 of the year following the year you attain age 70½. If you were born on or after July 1, 1949, you are required to take a minimum distribution from your IRA for the year in which you reach age 72 and for each year thereafter. You must take your first distribution by your required beginning date, which is April 1 of the year following the year you attain age 72. The minimum distribution for any taxable year is equal to the amount obtained by dividing the account balance at the end of the prior year by the applicable divisor. 2. The applicable divisor generally is determined using the Uniform Lifetime Table provided by the IRS. If your spouse is your sole designated beneficiary for the entire calendar year, and is more than 10 years younger than you, the required minimum distribution is determined each year using the actual joint life expectancy of you and your spouse obtained from the Joint Life Expectancy Table provided by the IRS, rather than the life expectancy divisor from the Uniform Lifetime Table. We reserve the right to do any one of the following by your required beginning date. (a) Make no distribution until you give us a proper withdrawal request (b) Distribute your entire IRA to you in a single sum payment (c) Determine your required minimum distribution each year based on your life expectancy calculated using the Uniform Lifetime Table, and pay those distributions to you until you direct otherwise If you fail to remove a required minimum distribution, an additional penalty tax of 50 percent is imposed on the amount of the required minimum distribution that should have been taken but was not. You must file IRS Form 5329 along with your income tax return to report and remit any additional taxes to the IRS.

  • Carry Forward to a Subsequent Year If you do not withdraw the excess contribution, you may carry forward the contribution for a subsequent tax year. To do so, you under-contribute for that tax year and carry the excess contribution amount forward to that year on your tax return. The six percent excess contribution penalty tax will be imposed on the excess amount for each year that it remains as an excess contribution at the end of the year. You must file IRS Form 5329 along with your income tax return to report and remit any additional taxes to the IRS.

  • Automatic Renewal Limitation for TIPS Sales No TIPS Sale may incorporate an automatic renewal clause that exceeds month to month terms with which the TIPS Member must comply. All renewal terms incorporated into a TIPS Sale Supplemental Agreement shall only be valid and enforceable when Vendor received written confirmation of acceptance of the renewal term from the TIPS Member for the specific renewal term. The purpose of this clause is to avoid a TIPS Member inadvertently renewing an Agreement during a period in which the governing body of the TIPS Member has not properly appropriated and budgeted the funds to satisfy the Agreement renewal. Any TIPS Sale Supplemental Agreement containing an “Automatic Renewal” clause that conflicts with these terms is rendered void and unenforceable.

  • Holiday Falling on a Scheduled Workday An Employee who works on a designated holiday which is a scheduled workday shall be compensated at the rate of double time for hours worked, plus a day off in lieu of the holiday; except for Christmas and New Year's when the compensation shall be at the rate of double time and one-half (2½) for hours worked, plus a day off subject to this Agreement.

  • Minimum Call-Back Time All employees who are called out and required to work in an emergency outside their regular working hours shall be paid for a minimum of two (2) hours at overtime rates and shall be paid from the time they leave home to report for duty until the time they arrive back upon proceeding directly from work.

  • Are There Penalties for Early Distribution from a Xxxx XXX As indicated above, earnings on your contributions, as well as amounts contributed to a Xxxx XXX as a rollover from a Traditional IRA, that are distributed before certain events are subject to various taxes. Please see IRS Publication 590 for further information about Xxxx XXX rules and restrictions.

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