Principal Only Method Sample Clauses

Principal Only Method. Under this method the number of shares of Company Stock to be released from the Unallocated Company Stock Account and allocated in accordance with Article IV(A-1)(1) to the Company Stock Accounts of Participants as of any Anniversary Date is determined by multiplying the number of shares held in the Unallocated Company Stock Account immediately prior to such allocation by a fraction the numerator of which is the total amount of principal paid by the Trust on the debt during the Plan Year ending on such Anniversary Date and the denominator of which is the sum of the numerator and the total amount of such debt, including principal only (not interest) to be paid for all future years; provided, however, that this method may be used only if the following requirements are met: (i) The debt in question must be payable in annual installments of principal and interest at a cumulative rate that is not less rapid at any time than level annual payments of such amounts for 10 years. (ii) Interest included in any installment is disregarded for purposes of this computation only to the extent that it would be determined to be interest under standard loan amortization tables. (iii) This method shall not apply from the time that, by reason of renewal, extension or refinancing, the sum of the expired period over which the debt originally was payable, the renewal period, the extension period, and the period over which a new debt is payable exceeds 10 years.
Sample 1
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Principal Only Method. Alternatively, in the same manner as described in (b) above, except that such number shall be based solely on the amount of principal paid for the Plan Year in relation to the sum of such amount plus the principal to be paid for all future years; and provided that: (1) the Acquisition Loan must provide for annual payments of principal and interest at a cumulative rate that is not less rapid at any time than level annual payments of such amounts for 10 years; (2) interest in any payment is disregarded only to the extent that it would be determined to be interest under standard loan amortization tables; and (3) the alternative described in this subsection (b) is not applicable from the time that, by reason of a renewal, extension or financing, the sum of the expired duration of the Acquisition Loan, the renewal period, the extension period, and the duration of a new Acquisition Loan exceeds 10 years.
Sample 1

Related to Principal Only Method

  • PayPal as Login Method We may allow you to authenticate with PayPal when you log into certain external websites or mobile apps. If we do so, we may share your login status with any third party enabling you to log in in this way, as well as the personal and other account information that you consent to being shared so that the third party can recognize you. PayPal will not give the third party access to your account and will only make payments from your account to that third party with your specific authorization and instruction.

  • Payment Method Payment shall be made by the Contractor to the Subcontractor as follows: (choose one) ☐ - Immediately upon completion of the Services to the satisfaction of the Contractor. ☐ - Within ____ business days after completion of the Services to the satisfaction of the Contractor. ☐ - Shall be paid on a ☐ weekly ☐ monthly ☐ quarterly ☐ other ______________________ basis. If the Subcontractor completes the Services to the satisfaction of the Contractor, before the full amount or balance has been fully paid, any remaining amount shall be payable immediately. ☐ - Other: ________________________________________________________

  • Payment Methodology The Contractor shall be compensated based on the Service Rates in Attachment for units of service authorized by the Institution in a total amount not to exceed the Contract Maximum Liability established in Section C. 1. The Contractor’s compensation shall be contingent upon the satisfactory completion of units of service or project milestones identified in Attachment B. The Contractor shall submit invoices, in form and substance acceptable to the Institution with all of the necessary supporting documentation, prior to any payment. Such invoices shall be submitted for completed units of service or project milestones for the amount stipulated.

  • Voting Method Unless otherwise provided by law, when a vote is taken upon any measure before the Board, with a quorum being present, a majority of the votes cast shall determine its outcome. A vote of "abstain" or "present," or a vote other than "yea" or "nay," or a failure to vote, is counted for the purposes of determining whether a quorum is present. A vote of "abstain" or "present," or a vote other than "yea" or "nay," or a failure to vote, however, is not counted in determining whether a measure has been passed by the Board, unless otherwise stated in law. The sequence for casting votes is rotated. On all questions involving the expenditure of money and on all questions involving the closing of a meeting to the public, a roll call vote shall be taken and entered in the Board's minutes. An individual Board member may request that a roll call vote be taken on any other matter; the President or other presiding officer may approve or deny the request but a denial is subject to being overturned by a majority vote of the members present. Any Board member may request that his or her vote be changed before the President announces the result. Any Board member may include a written explanation of his or her vote in the District file containing individual Board member statements; the explanation will not be part of the minutes. The Board Secretary shall keep written minutes of all Board meetings (whether open or closed), which shall be signed by the President and the Secretary. The minutes include:

  • Payment Methods A. Except as otherwise provided by this Contract, the payment method will be one or more of the following:

  • Measurement method An isolation resistance test instrument is connected between the live parts and the electrical chassis. The isolation resistance is subsequently measured by applying a DC voltage at least half of the working voltage of the high voltage bus. If the system has several voltage ranges (e.g. because of boost converter) in conductively connected circuit and some of the components cannot withstand the working voltage of the entire circuit, the isolation resistance between those components and the electrical chassis can be measured separately by applying at least half of their own working voltage with those components disconnected.

  • First Method and Market Quotation If the First Method and Market Quotation apply, the Defaulting Party will pay to the Non-defaulting Party the excess, if a positive number, of (A) the sum of the Settlement Amount (determined by the Non-defaulting Party) in respect of the Terminated Transactions and the Termination Currency Equivalent of the Unpaid Amounts owing to the Non-defaulting Party over (B) the Termination Currency Equivalent of the Unpaid Amounts owing to the Defaulting Party.

  • Test method This test is intended to demonstrate the immunity of the vehicle electronic systems. The vehicle shall be subject to electromagnetic fields as described in this annex. The vehicle shall be monitored during the tests. If not otherwise stated in this annex the test shall be performed according to ISO 11451-2.

  • Definition of Affiliate The term “Affiliate” shall mean an entity that is directly or indirectly owned, operated, or controlled by another entity.

  • Currency and method of payments All payments to be made by the Lenders or by the Borrower under a Finance Document shall be made to the Agent or to the Security Trustee, in the case of an amount payable to it: (a) by not later than 11.00 a.m. (New York City time) on the due date; (b) in same day Dollar funds settled through the New York Clearing House Interbank Payments System (or in such other Dollar funds and/or settled in such other manner as the Agent shall specify as being customary at the time for the settlement of international transactions of the type contemplated by this Agreement); (c) in the case of an amount payable by a Lender to the Agent or by the Borrower to the Agent or any Lender, to such account with such bank as the Agent may from time to time notify to the Borrower and the other Creditor Parties; and (d) in the case of an amount payable to the Security Trustee, to such account as it may from time to time notify to the Borrower and the other Creditor Parties.

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