Substitute Payments. Substitute payments received by the Portfolio from a borrower in lieu of any dividends, distributions or other financial benefits paid out in respect of a loaned security shall not be considered part of the Portfolio's Net Securities Lending Income for purposes of calculating the fee payable by the Portfolio pursuant to this Paragraph 2, except that (I) to the extent that any such substitute payment exceeds the amount that the Portfolio would have received had such security not been loaned to the borrower, the Portfolio's Net Securities Lending Income shall be increased by an amount equal to the difference, and (II) to the extent that any such substitute payment is less than the amount that the Portfolio would have received had such security not been loaned to the borrower, the Portfolio's Net Securities Lending Income shall be decreased by an amount equal to the difference The fees payable by the Portfolio pursuant to this Paragraph 2 shall accrue daily and shall be paid to Subadviser monthly within twelve business days of the end of each calendar month. If the Portfolio's aggregate Net Securities Lending Income for any calendar month shall be a negative amount, the fee payable by the Portfolio for such month pursuant to this Paragraph 2 shall be zero, and an amount equal to 40% of such negative Net Securities Lending Income shall be carried forward and applied against future fees earned by Subadviser pursuant to this Paragraph 2 for a period not to exceed 3 calendar months. Subadviser agrees to look exclusively to the assets of the Portfolio, and not to any other assets of the Trust or Manager, for the payment of Subadviser's fees arising under this Paragraph 2.
Substitute Payments. To the extent Pershing determines (in accordance with federal income tax regulations) that your securities have been loaned, certain payments you receive with respect to such loaned securities will be reclassified as “substitute payments.” The federal income tax consequences of receiving a substitute payment are receipt of a payment made by the underlying security. For instance, a dividend received by a corporation may qualify for the dividends received deduction. However, the receipt of a substitute payment in lieu of a dividend will not qualify for the dividends received deduction. Individuals may also be affected if certain payments (such as exempt-interest dividends, capital gain distributions, return of capital, and foreign tax credit dividends) are reclassified as substitute payments. We suggest you contact your tax advisor to discuss the tax treatment of substitute payments.
Substitute Payments. If the Company or any Project Company receives any payments designated as compensation for any lost electrical production (including, without limitation, PTCs associated with such lost electrical production and any gross up amounts related thereto) relating to the construction, development, maintenance, testing and/or operation of any of the Projects (including any payment or indemnity received pursuant to Section 12.1 or any power purchase agreement with respect to any curtailment thereunder but excluding any payment of liquidated damages), the Managing Member shall determine the characterization of such payment (i.e., as a payment for lost PTCs or a payment for lost revenues under a power purchase agreement) and shall distribute such payment to the Members as appropriate, it being understood and agreed by the Members that a payment characterized as a payment for lost PTCs shall be distributed to the Members in accordance with the ratios set forth in Section 5.1 and all items of income associated therewith shall be allocated to the Members in accordance with Section 5.1, and a payment characterized as a payment for lost revenues under a power purchase agreement shall be distributed to the Members in accordance with the ratios set forth in Section 6.1; provided that any such determination, and any amendments to this Agreement required to implement such determination, shall be subject to obtaining the consent of the Members.
Substitute Payments. (a) You agree that if, through no fault of Sunrun, you cause or request the Solar Facility to be shut down, or if you cause an event that significantly reduces the production of electric energy by the Solar Facility, you will pay Sunrun a fee during each month that the Solar Facility is shut down or experiencing reduced production ("Substitute Payments"). However, Sunrun will not charge you Substitute Payments for the first seven (7) days during the Initial Term that the Solar Facility has been shut down or is experiencing reduced output.
Substitute Payments. If you must make any payments in cash or property after your spouse’s death as a substitute for continuing The rules in this section do not apply to di- 3) You receive the written request from your xxxxx or separation instruments executed af- spouse before you file your return for the ter 1984 if the terms for alimony are un- year you made the payments. changed from an instrument executed before 1985. For the rules for alimony payments Payments designated as not alimony. You under other pre-1985 instruments, see Instru- and your spouse may designate that otherwise ments Executed Before 1985, later. qualifying payments are not alimony by includ-
Substitute Payments. As permitted under my Margin Agreement, Pershing may lend shares in my Account when my Account has a debit balance. Payment that I receive with respect to loaned securities will be reclassified as “substitute” pay- ments. The tax consequences of receiving substitute payments may be different than the tax consequences of receiving payments made by an issuer of an under- lying security. For instance, a dividend received by an individual may be taxed at a preferential rate if the dividend is a qualified dividend. Whereas if an individual receives a substitute payment, the preferential rate for qualified dividends will not apply. Individuals may also be affected if certain payments (such as exempt- interest dividends, capital gain distributions, return of capital, and foreign tax credit dividends) are reclassified as substitute payments. Corporate taxpayers could also be affected because the dividends-received deduction is not available with respect to substitute payments. Xxxxx suggests I contact my tax advisor to discuss the tax treatment of substitute payments.
Substitute Payments. If you must make any payments in cash or property after your condition. spouses intend the payments to be spouse’s death as a substitute for continuing treated as alimony. otherwise qualifying payments, the otherwise The rules in this section do not apply to xx- xxxxx or separation instruments executed after 1984 if the terms for alimony are unchanged
Substitute Payments. (4) Committee on Political Education (COPE) & P.A.C. Fund Contributions. Any such authorization may be revoked at any time by the employee sending notice to the Paymaster of the Company by registered mail, return receipt requested. The Paymaster will promptly notify the Union of any such revocation by forwarding a copy of the revocation. As a convenience, the Company will continue to deduct dues of an employee transferred to a classification not covered by this Agreement during his/her trial period of six (6) months. The authorization will be automatically canceled when employment in the Company is terminated for any reason, or six (6) months after an employee is so transferred. If such an employee returns to a bar- gaining unit during the term of this Agreement, he/she must, within thirty
Substitute Payments. In lieu of Pension payments, the Employer agrees to make an annual, lump sum payment in the total amount of forty-two cents (42₵) per hour worked by each employee who was or who otherwise have been eligible to participate in the Pension Plan (Bus and Dish room excluded.) Such lump sum payments shall be made to employees on the active payroll and paid by each January 31 during the contract for hours worked during the prior calendar year for which no pension contribution was made.
Substitute Payments
