Rules of Application Sample Clauses
The "Rules of Application" clause defines the procedures and criteria for how certain terms, conditions, or processes within the agreement are to be applied. It typically outlines the steps parties must follow to invoke specific rights or obligations, such as submitting requests, meeting deadlines, or providing required documentation. For example, it may specify how to apply for a service, claim a benefit, or initiate a process under the contract. This clause ensures consistency and clarity in the application of the agreement's provisions, reducing misunderstandings and disputes by establishing clear operational guidelines.
Rules of Application. The definitions in Section 1.01 and elsewhere in this Agreement shall apply equally to both the singular and plural forms of the terms defined. Whenever the context may require, any pronoun used herein shall include the corresponding masculine, feminine and neuter forms. The words “include,” “includes,” and “including” shall be deemed to be followed by the phrase “without limitation.” The words “herein,” “hereof,” “hereunder,” and similar terms shall refer to this Agreement, unless the context otherwise requires.
Rules of Application. For purposes of this Section 3.04(b):
(A) Except as provided in Section 3.04(b)(ii)(B), the consideration deemed to be received by the transferor in the transaction shall be deemed to equal the fair market value of the transferred asset(s) (taking into account the principles of section 7701(g) of the Code);
(B) The consideration deemed to be received by the transferor in exchange for a partnership interest shall be deemed to equal the fair market value of the partnership interest increased by any liabilities (as defined in Treasury Regulation § 1.752-1(a)(4)) of the partnership allocated to the transferor with regard to such transferred interest under section 752 of the Code immediately after the transfer; and
(C) A transfer to a “corporation” (other than the Corporation) includes a transfer to any entity or arrangement classified as a corporation for U.S. federal income tax purposes, and “partnership” includes any entity or arrangement classified as a partnership for U.S. federal income tax purposes.
Rules of Application. This Title shall be applied in the following manner:
Rules of Application. (i) Profits and Losses and other items of income, gain, loss and deduction shall be allocated to the Partners in accordance with the portion of the year during which the Partners have held their respective interests. All items of income, loss and deduction shall be considered to have been earned ratably over the period of the fiscal year of the Partnership, except that (A) gains and losses arising from the disposition of a sets shall be taken into account as of the date thereof, and (B) with the consent of the General Partner and all affected parties, the preceding items may be allocated by using an “interim closing of the books” method.
(ii) In the event the Partnership is entitled to a deduction for interest imputed under any provision of the Code on any loan or advance from a Partner (whether such interest is currently deducted, capitalized or amortized), such deduction shall be allocated solely to such Partner.
(iii) To the extent any payments in the nature of fees paid to a Partner are finally determined to be distributions to a Partner for federal income tax purposes, there will be a gross income allocation to such Partner in the amount of such distribution.
(iv) Losses shall not be allocated to any Partner to the extent that such allocation would result in a deficit in its Adjusted Capital Account Balance while any other Partner continues to have a positive Adjusted Capital Account Balance; in such event Losses shall first be allocated to Partners with positive Adjusted Capital Account Balances in proportion to such balances, until their positive Adjusted Capital Account Balances have been reduced to zero. To the extent that any Losses are allocated pursuant to this paragraph, Profits shall thereafter be allocated in reverse order of such allocations of Losses to the extent of such Losses.
(v) The allocation of Profits and Losses to any Partner shall be deemed to be an allocation to that Partner of the same proportionate part of each separate item of taxable income, gain, loss, deduction or credit that comprises such Profits and Losses.
Rules of Application. If the Medical Premium Subsidy amount exceeds the KPSA premium costs, then the excess amount will be forfeited. Any cost of medical coverage above the Medical Premium Subsidy shall be borne by the retiree. A retiree who does not pay the retiree’s share of KPSA premiums shall lose coverage in accordance with KPSA plan terms. If a retiree does not pay the retiree’s share of KPSA premiums for his or her Medicare-eligible spouse or domestic partner, the spouse or domestic partner shall lose coverage in accordance with KPSA plan terms. Within any ▇▇▇▇▇▇ Permanente Service Area, Medical Premium Subsidy applies only for the amount of the lowest-cost KPSA coverage (including prescription drug coverage) available to the retiree (and not for any premium plan or non-▇▇▇▇▇▇ Permanente plan). A retiree must enroll in Medicare Parts A and B and any other relevant parts of Medicare, assign his or her Medicare rights to the applicable ▇▇▇▇▇▇ Permanente plan, and take such other action as the applicable ▇▇▇▇▇▇ Permanente plan determines is necessary to assign/coordinate Medicare. The spouse or domestic partner also must take the same actions when eligible for Medicare. If a retiree and/or his or her eligible dependents reside outside of a ▇▇▇▇▇▇ Permanente service area, the Medical Premium Subsidy can be used for any Medicare Advantage or Medicare “Medigap” plan premiums. In the event of an eligible retiree’s death, the Medical Premium Subsidy will be available for a surviving spouse or domestic partner, subject to the same rules. Coverage will be available for any eligible surviving child up to age 26. Eligibility of a spouse or domestic partner for survivor retiree medical benefits ends upon remarriage or entering into a domestic partnership. An eligible retiree will receive an Employer allocation to an unfunded Retiree Medical Health Reimbursement Account (“HRA”) at the time of retirement in the amount of $2,000 per year of service. An eligible retiree will receive an allocation to an HRA equal to $10,000 when the retiree reaches age eighty-five (85) (“HRA supplement”).
Rules of Application. If the Medical Premium Subsidy amount exceeds the KPSA premium costs, then the excess amount will be forfeited.
Rules of Application. 1. Application shall be made to the Superintendent, with copies to the Building Administrator, and the Executive Board of the Association, and shall completely outline the course of study in residence at a college or university, either at home or abroad. The applicant shall submit a copy of a letter of acceptance from the school as part of the application.
2. Application for sabbatical leave shall be made as soon as possible, but not later than April 1 of each year, with tentative Board approval by May 2, and final approval by May 15, for the next academic year. This leave, when granted, shall be binding upon the Board and the teacher.
Rules of Application. Years of Service shall be calculated on the Employee's anniversary date, being the date of commencement with the Corporation;
Rules of Application. (a) If the Employer has elected the Safe Harbor CODA option in the Adoption Agreement, the provisions of this Article shall apply for the Plan Year and any provisions relating to the ADP test described in § 401(k)(3) of the Code or the ACP test described in § 401(m)(2) of the Code do not apply.
(b) To the extent that any other provision of the Plan is inconsistent with the provisions of this Article, the provisions of this Article govern.
(c) In accordance with Treasury Regulations Sections 1.401(k)-1(e)(7) and 1.401(m)-1(c)(2), it is impossible for the employer to use ADP and ACP testing for a plan year in which it is intended for the plan through its written terms to be an IRC 401(k) safe harbor plan and IRC 401(m) safe harbor plan and the employer fails to satisfy the requirements of such safe harbors for the plan year.
Rules of Application. 1) To satisfy the requirements to be a 401(k) Safe Harbor Plan, a Plan must: (i) satisfy the notice requirements and contribution requirements of this section; and (ii) apply the 401(k) safe harbor provisions for the entire 12-month Plan Year, unless a short Plan Year exception in (2) below applies. If the Employer elected in Item O(1)(b) to make the 401(k) safe harbor Contributions for all Plan Years, any provisions relating to the ADP Test in Section 3.08 do not apply. If the Employer elected in Item O(1)(d) to make a Qualified Nonelective Contribution for the Plan Year, any provisions relating to the ADP Test in Section 3.08 do not apply for the Plan Year specified in Item O(1)(d). If the Employer elected to satisfy the ADP Test Safe Harbor and ACP Test Safe Harbor in Item O(1)(a)(i) and the Employer elected in Item O(1)(b) to make the 401(k) safe harbor Contributions for all Plan Years, any provisions relating to the ACP Test in Section 3.08 with respect to Matching Contributions do not apply. If the Employer elected to satisfy the ADP Test Safe Harbor and ACP Test Safe Harbor in Item O(1)(a)(i) and the Employer elected in Item O(1)(d) to make a Qualified Nonelective Contribution for the Plan Year, any provisions relating to the ACP Test in Section 3.08 with respect to Matching Contributions do not apply for the Plan Year specified in Item O(1)(d). In modification of the foregoing, if the entry requirements for Elective Deferral Contributions and the 401(k) safe harbor Contributions are different, any provisions relating to the ADP Test shall apply in any Plan Year in which a Highly Compensated Employee is part of the group of otherwise excludable employees as defined in section 1.410(b)-6(b)(3) of the regulations for purposes of testing the group of otherwise excludable employees.