Recalculation. If the Participant so elects, the life expectancy of a Participant and/or his spouse may be recalculated no more frequently than annually if such election is irrevocable, is made no later than the date benefits must commence under Section 8.5, and is applicable to all subsequent years. If recalculation is applicable, the life expectancy of the participant or spouse shall be determined using his or her age as of his or her birthday in each succeeding calendar year.
Recalculation. If, notwithstanding the initial application of this Section 9, the Internal Revenue Service determines that all or any portion of any Covered Payment constitutes an excess parachute payment (as defined in Section 280G(b) of the Code), this Section 9 will be reapplied based on the Internal Revenue Service’s determination, and the Executive will be required to promptly repay the portion of the Covered Payments required to avoid imposition of an excise tax under Section 4999 of the Code together with interest at the applicable federal rate (as defined in Section 7872(f)(2)(A) of the Code) from the date of the Executive’s receipt of the excess payments until the date of repayment).
Recalculation. The Plan Administrator, only upon the Participant's election (under Section 6.02(C)(2)) or the Participant's surviving spouse designated Beneficiary's election, will recalculate the life expectancy of the Participant's surviving spouse not more frequently than annually. However, the Plan Administrator may not recalculate the life expectancy of a nonspouse designated Beneficiary after the Trustee commences payment to the designated Beneficiary. The Plan Administrator will apply this Section 6.02(D) by treating any amount paid to the Participant's child, which becomes payable to the Participant's surviving spouse upon the child's attaining the age of majority, as paid to the Participant's surviving spouse. A surviving spouse designated Beneficiary must elect recalculation under this ss.6.02(D)(3) in writing and on a form the Plan Administrator prescribes not later than the last day of the spouse's first distribution year.
Recalculation. 5.1 If there is an increase or decrease during the Term in the cost or risk to LeasePlan of:
(a) providing repair and maintenance services under Clause 4.1 as a result of kilometres driven being in excess of the number of kilometres per annum specified in the Schedule and on which the Monthly Rental is based;
(b) keeping the Vehicle registered under Clause 4.2(b);
(c) providing a roadside assistance service for the Vehicle and drivers of the Vehicle under Clause 4.2(c);
(d) providing insurance for the Vehicle under Clause 12;
(e) providing the Vehicle arising directly or indirectly from a change in, or the implementation of, any law or regulation or administrative direction or practice;
(f) providing services to the Hirer as a result of the Hirer requesting additional or reduced services to be provided, LeasePlan has the irrevocable right to increase or decrease the Monthly Rental and will give one month’s written notice to the Hirer of its intention to so increase or decrease the Monthly Rental.
5.2 LeasePlan will annually perform a cost analysis and if a Vehicle’s annualised kilometre travel has or is forecast to differ from the kilometres specified in the Schedule, LeasePlan has the irrevocable right to increase or decrease any items which make up the Monthly Rental and will give one month’s written notice to the Hirer of such increase or decrease in the Monthly Rental, where the kilometre variance has resulted in increased or decreased costs or risks.
Recalculation. The Borrower will calculate the Annual Debt Service Cover Ratio and the Senior Debt/EBITDA Cover Ratio on each Repayment Date and on the basis of the financial statements most recently delivered to the Agent pursuant to Clauses 18.1.1(a), 18.1.1(b) or as the case may be Clause 9.4.3(c)(ii). The Borrower will prepare a certificate of compliance, which shall be executed on behalf of the Borrower, in respect of the financial covenants in form and substance satisfactory to the Agent and containing details of the calculation of by the Borrower of the financial covenants enabling the Agent to ascertain compliance by the Borrower with the financial covenants.
Recalculation. In computing a required minimum distribution, the Plan Administrator must use the unisex life expectancy multiples under Treas. Reg. §1.72-9. The Plan Administrator, only upon the Participant’s timely election, will compute the required minimum distribution for a distribution calendar year subsequent to the first distribution calendar year by redetermining (“recalculation” of) the Participant’s life expectancy or the Participant’s and spouse designated Beneficiary’s life expectancies as elected. However, the Plan Administrator may not redetermine the joint life and last survivor expectancy of the Participant and a nonspouse designated Beneficiary in a manner which takes into account any adjustment to a life expectancy other than the Participant’s life expectancy. A Participant must elect recalculation under this Section 6.02(C)(2) in writing and on a form the Plan Administrator prescribes, not later than the Participant’s RBD.
Recalculation. (a) As soon as reasonably practicable after each Recalculation Date, (i) for so long as any Senior Debt Obligations remain outstanding under any Amended B Note, (A) the outstanding principal amount owed to any Consenting Amended Note Noteholder under any Amended B Note at such time shall, in accordance with clause (b) below, be reduced by an amount equal to each such Consenting Amended Note Noteholder’s ratable share of the Available Basket Amount for such Recalculation Date (such amount being each such Consenting Amended Note Noteholder’s “Reduced Unsecured Principal Amount”) and (B) the outstanding principal amount of the Amended A Notes held by such Consenting Amended Note Noteholder shall, in accordance with clause (b) below, be increased by an amount equal to such Consenting Amended Note Noteholder’s Reduced Unsecured Principal Amount for such Recalculation Date and (ii) at such time as no Senior Debt Obligations remain outstanding under any Amended B Note, if any Springdale Tranche B Advances remain outstanding, (A) the outstanding principal amount of the Springdale Tranche B Advances owed to each Term B Lender shall, in accordance with clause (b) below, be reduced by an amount equal to each such Springdale Lender’s ratable share of the Available Basket Amount for such Recalculation Date (such amount being each such Term B Lender’s “Reduced Springdale Undersecured Principal Amount”) and (B) the outstanding principal amount of the Advances owed to each such Term B Lender under the Group Assets Facility shall, in accordance with clause (b) below, be increased by an amount equal to such Term B Lender’s Reduced Springdale Undersecured Principal Amount for such Recalculation Date.
Recalculation. (a) If FibroGen completes a public offering at a price which establishes a market valuation for FibroGen less than eighty million dollars ($80,000,000), .then any payments to Medarex hereunder based upon a market capitalization of FibroGen of eighty million dollars ($80,000,000) or more pursuant to Section 4.4.1(ii) shall be recalculated based upon the market valuation of FibroGen determined by the public offering price and Medarex shall be entitled to the incremental additional shares which Medarex would have received had the prior payment(s) been calculated on the basis of a market valuation determined by the public offering price based on the average of the high and low trading prices of FibroGen’s stock within ninety (90) business days prior to the date of payment.
(b) In the event that FibroGen restructures its business into one or more entities and if Medarex is entitled to receive a proportionate interest in the spun off entity, then the value of the payments pursuant to Sections 4.4.1 and 4.4.2 above shall be considered the aggregate of the value of the stock of the spun off entity and the value of the FibroGen stock; provided, however, that in the case that FibroGen is a public company and the spun off entity (the “New Entity”) is a private company, Medarex shall only receive subsequent license or milestone equity payments in the form of the public company stock, valued without regard to the New Entity.
Recalculation. The total floor area of the Premises with ------------- respect to which Tenant shall pay rent shall be the "net rentable area" of space included in the Premises, determined from the Final Plans. Tenant's net rentable area of the Premises presented in Section 1(c) of the Lease and Section 1 of this Exhibit C shall be recalculated by Landlord and amended in this Lease to accurately reflect the net rentable square footage comprising the Premises as soon as Final Plans for the Tenant's Premises are completed. Such recalculation shall be completed no later than thirty (30) days after completion of Final Plans. Any dispute regarding such recalculation shall be resolved by arbitration under Section 9 of this Exhibit C.
Recalculation. The Borrower will calculate the Annual Debt Service Cover Ratio and the Senior Debt/EBITDA Cover Ratio from Financial Close onwards on each Repayment Date under the Pulp Mill Facility and/or the Facility and on the basis of the financial statements most recently delivered to the Agent pursuant to Clauses 16.1.1(a), 16.1.1(b) or as the case may be clause 9.4.3 (c)(ii) of the Pulp Mill Facility Agreement. The Borrower will prepare a certificate of compliance, which shall be executed on behalf of the Borrower, in respect of the financial covenants in form and substance satisfactory to the Agent and containing details of the calculation of by the Borrower of the financial covenants enabling the Agent to ascertain compliance by the Borrower with the financial covenants.
