Mandatory Contributions. Any Participant nondeductible contributions eligible for matching contributions are mandatory contributions. The Advisory Committee will maintain a separate accounting, pursuant to Section 4.06 of the Plan, to reflect the Participant's Accrued Benefit derived from his mandatory contributions. The Employer, under Adoption Agreement Section 4.05, may prescribe special distribution restrictions which will apply to the Mandatory Contributions Account prior to the Participant's Separation from Service. Following his Separation from Service, the general distribution provisions of Article VI apply to the distribution of the Participant's Mandatory Contributions Account.
Mandatory Contributions. Immediately upon commencing participation in the Savings Plan, each participant shall contribute on a pretax basis through payroll deduction, five percent (5%) of his or her Pensionable Earnings as defined in section A (9) of this Article and the Town shall contribute an amount equal to five percent (5%) of the participant’s Pensionable Earnings to the participant’s Savings Plan account.
Mandatory Contributions. If elected below, a Participant will be required to make a Mandatory Contribution (as defined in Section 1.76 of the Plan) to the Plan equal to the amount specified under this subsection 6-6. Any amounts contributed pursuant to this subsection 6-6 will be treated as Employer Contributions under the Plan. Such contributions and earnings thereon will be 100% vested at all times.
(a) The following amounts will be contributed to the Plan as a Mandatory Contribution: 🞎 (1) % of Plan Compensation. 🞎 (2) $ per pay period.
(3) Any amount from % to % of Plan Compensation, as designated by the Participant.
(4) The amount designated under an applicable Collective Bargaining Agreement, employment contract or other arrangement with the Employee.
(5) Describe amount: [Note: Amount may not exceed 100% of Plan Compensation.] 🞎 (b) Special rules applicable to Mandatory Contribution: [Note: Special rules may describe special eligibility requirements and the definitely determinable amounts.]
Mandatory Contributions. Subject to the provisions of this Agreement:
(i) Except as otherwise provided in this Section 11.01(b), CBL Member shall contribute as additional Member Funding (A) any and all necessary equity funding that is set forth in an approved Pro Forma as equity contributions from Members/owners to fund any and all construction in connection with Future Development Activities; (B) any and all costs in excess of such amounts of necessary equity funding from Members/owners that do not rise to the level of a Material Development Deviation; and (C) any and all costs in excess of such equity funding necessary to complete such construction (construction cost overruns) that rise to the level of Material Development Deviations and for which the approvals required in Section 5.03 have been obtained (for purposes of this clause (i) and Section 5.03 above, CBL Member and its Affiliates shall be conclusively deemed to have approved any such costs with respect to Future Development Activities) (the funding referenced in subparagraphs (A), (B) and (C) hereof being collectively referred to herein as the "Construction Funds"). Such contributions of Construction Funds shall be in the form of cash or cash equivalents and such contributions may be contributed in installments when and as needed in CBL Member's reasonable judgment consistent with the applicable Pro Forma(s) and Development Schedule(s), Member Newco's lender's requirements and the needs of the Project. Notwithstanding the foregoing, from and after a JG Members Exit Event, any additional Member Funding of Construction Funds that CBL Member would thereafter, but for the operation of this sentence, have been required to make shall instead be made by CBL Member and the JG Members Substitute Member pro rata on the basis of their respective Capital Interests.
(ii) Except as provided in this Section 11.01(b), CBL Member shall contribute as additional Member Funding any and all amounts in order to fund Operating Deficits of Member Newco. Such contributions of funds to cover Operating Deficits shall be in the form of cash or cash equivalents and such contributions may be contributed in installments when and as needed in CBL Member's reasonable judgment consistent with the Pro Forma(s), the Development Schedule(s), the Operating Budget(s) and Member Newco's lender's requirements and the needs of the Project. Notwithstanding the foregoing, from and after a JG Members Exit Event, any additional Member Funding to fund Operating Def...
Mandatory Contributions. (a) If the Board has determined that the Company has, or is at immediate risk of having, (i) an inability to pay its debts as they become due, (ii) inadequate capital to carry on its business, or (iii) aggregate liabilities that exceeds it aggregate assets, then in each case of the foregoing clauses (i), (ii) and (iii), the Board may provide written notice to the Owners of the amount of such deficiency (the “Capital Deficiency”). Within fifteen (15) days (the “Contribution Period”) after receiving such notice from the Board of a Capital Deficiency, each Owner shall make a cash contribution (a “Capital Contribution”) to the Company equal to such Owner’s Ownership Percentage multiplied by the Capital Deficiency, which amount shall be utilized by the Company as required for then existing operations and obligations. Any determination to provide written notice to the Owners of a Capital Deficiency shall be made by Majority Approval.
(b) In the event an Owner fails to make all or part of a Capital Contribution required pursuant to Section 2.1(a) (such Owner, a "Defaulting Owner"), the Company shall provide notice of that failure to the other Owners (each a "Super Contributing Owner") and each such other Owner may elect to contribute to the Company in cash its pro rata portion (based on its Ownership Percentage calculated excluding any holdings of the Defaulting Owner or any other Owner not electing to make a Capital Contribution) of the Capital Contribution which the Defaulting Owner failed to contribute (a “Super Contribution”). If a Super Contributing Owner elects to make a Super Contribution, the Super Contribution may be given in exchange for a promissory note issued by the Company. The promissory note shall bear interest at the lesser of the Applicable Rate or the highest annual rate permitted by applicable Law and interest shall be paid by the Company to the Super Contributing Owner on a monthly basis. The principal amount of the promissory note plus accrued but unpaid interest thereon shall be paid by the Company to the Super Contributing Owner as promptly as possible, but in any event prior to any dividend or other distribution by the Company to any holder of its Equity Interests.
(c) If a Super Contributing Owner elects to receive equity in exchange for its Super Contribution (rather than a promissory note), the Company shall issue common stock to the Super Contributing Owner in exchange for such Super Contribution to the Company such that such Super Co...
Mandatory Contributions a. Mandatory After-Tax Contributions are permitted.
i. [ ] Yes
ii. [ ] Formerly Allowed
iii. [ X ] No
b. Mandatory Pre-Tax Contributions are permitted.
i. [ ] Yes
ii. [ ] Formerly Allowed
iii. [ X ] No
Mandatory Contributions. As reasonably determined by the Board of Managers from time-to-time to satisfy the capital needs (or other needs) of the Company, the Board of Managers may provide written notice to each Member requiring each Member to make additional Capital Contributions on such terms and conditions as the Board of Managers may reasonably determine in order to satisfy capital needs (or other needs) of the Company consistent with the Business Plan, applicable Budget, or other transaction approved by the Members or Board of Managers pursuant to the terms of this Agreement; provided, however, that any such demand shall be made to the Members pro rata according to their relative Percentage Interests at the time such request is made and on the same terms and conditions for all Members. The Members shall make such Capital Contributions in cash by wire transfer of immediately available funds, no later than ten (10) business days after such notice. Notwithstanding the foregoing, the mandatory Capital Contributions for all Members in aggregate (including the Initial Capital Contributions) shall not exceed the Mandatory Capital Contributions Cap.
Mandatory Contributions. Any Participant nondeductible contributions eligible for matching
Mandatory Contributions. An employee who is age 30 or over and has 1 year of service is automatically enrolled into the RC Plan with a 3.5% payroll deduction based on annual salary. This pre- tax contribution is matched at 100% by the museum and cannot be directed to the Xxxx option.
Mandatory Contributions. Tel shall pay all royalties and license fees on any equipment and materials to be furnished by it and shall pay all workers' compensation contributions, unemployment insurance contributions, Canada/Quebec Pension Plan and employees' income tax deductions together with all other taxes and payroll contributions now or hereafter imposed by any lawful authority and indemnify and save harmless the Customer from any and all claims, penalties, interest and cost and any of the same which may be made or assessed against the Customer in respect thereof.
