Underfunding Sample Clauses

Underfunding. If Customer does not provide the amounts sufficient to maintain the required minimum balance in the Bank Account, or to cover Bank Account withdrawals: (1) Customer must immediately correct the deficiency and provide prompt notice to United.
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Underfunding. If financial support paid to the Cooperative by a Member without a Library is less than the amount due under Section V, written notice shall be provided by PPLC, to such unit of the deficiency and all funds due under Section V shall be immediately due and payable as specified in Section VI.C. Such unit shall be deemed to have withdrawn from the Cooperative notwithstanding the provisions of Section VI.A or VI.C effective thirty (30) days following the receipt of written notice of deficiency unless payment of such deficiency is made within that thirty (30) day period.
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Underfunding. 12.5.1 By May 31 of each year, the chairman of the Fiscal Committee must notify the Executive Committee if any Party’s Annual Decommissioning Funding Status Report indicates that the Liquidation Value of its Decommissioning Trust Fund(s), as of December 31 of the previous year, is less than its Floor Balance. Upon such notification, the Executive Committee may declare said Party to be underfunded. Such declaration must be made by unanimous vote of the Executive Committee, excluding the vote of any alleged underfunded Party. Within ninety (90) days of such declaration, the underfunded Party must give written notification to the Executive Committee and the Fiscal Committee that it has selected one of the following Cure Plans: 12.5.1.1 Depositing in its Decommissioning Trust Fund(s) within three (3) years of being declared underfunded an amount that brings the Liquidation Value of its Decommissioning Trust Funds(s) to at least its Floor Balance in effect at the end of such three (3) year period; or 12.5.1.2 Submitting a Cure Plan to the Fiscal Committee and Executive Committee within ninety (90) days of being declared underfunded that provides for the underfunded Party to achieve its Floor Balance in an approved time frame not longer than five (5) years. Such Cure Plan must include assumptions related to escalation, investment/portfolio composition, rates of return, and tax rate projections to the extent applicable. 12.5.2 If the underfunded Party sends written notice to the Executive Committee and Fiscal Committee that it has adopted the Cure Plan set forth in Section 12.5.1.1, then the underfunded Party is precluded from subsequently adopting the Cure Plan set forth in Section 12.5.1.2. 12.5.3 If the underfunded Party sends written notice to the Executive Committee and Fiscal Committee that it has adopted the Cure Plan set forth in Section 12.5.1.2, then the Executive Committee must, within ninety (90) days after receiving such notice: (i) approve said Cure Plan in its entirety; (ii) disapprove said Cure Plan in its entirety; or
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Underfunding. If you do not provide the required amounts that have been requested in your DDA or for the funds that have been withdrawn from the DDA:
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Underfunding. The project was not sufficiently funded from the beginning. In addition, the initial cost estimates were based on limited data and experience with conducting emergency removal activities under the difficult conditions found in these villages, and the resources available in Zamfara. UNICEF/Bl provided slightly more than $850,000 of the initial US $1.2M estimated costs for the five villages in late August. In September, additional project funds were requested from the State government to provide heavy equipment leases, support vehicles, and Senior Management salaries. State funding was released to the support the cleanup project in early October. However, assistance was not forthcoming for either heavy equipment or Senior Management. The State and LGAs did provide vehicles and per diem support for their staff and the Anka Emirate provided two vehicles and security. The project ultimately paid allowances to three Senior Management personnel to obtain staff and vehicles. The cleanup project was delayed by 2-3 weeks to negotiate these arrangements and secure the vehicles. Budget shortfalls were eventually accommodated through provision of in- kind services by TG and cash contributions by MSF.
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Underfunding. As long as SDG&E or SCE is a Party to this Agreement, Sections 7.5 through 7.7, inclusive, shall not apply to either SDG&E or SCE. If either Party assigns its Ownership Share of San Xxxxxx Unit 1 pursuant to Section 18 herein, Sections 7.5 through 7.7 shall apply to any third party assignee of SCE or SDG&E's Ownership Share(s). 7.5.1 By March 31 of each year, the Decommissioning Agent shall notify the Decommissioning Executive Board if either Party's Annual Decommissioning Funding Status Report indicates that the balance in its Decommissioning Trust Funds as of December 31 of the previous year is less than its Decommissioning Cost Share of the current Annually Adjusted Decommissioning Cost Estimate as defined in Section 7.2 hereof. Upon such notification, the Decommissioning Agent's representative on the Decommissioning Executive Board shall declare such Party to be underfunded. Such Party shall notify the Decommissioning Executive Board of adoption of a Cure Plan within ninety (90) days after such declaration. 7.5.2 A Cure Plan is a plan to be proposed by a Party that has been declared to be underfunded, which commits that Party to a method of depositing in its Decommissioning Trust Fund(s) an amount that brings the cumulative balance in its Decommissioning Trust Fund(s) to at least its Decommissioning Cost Share of the Annually Adjusted Decommissioning Cost Estimate as defined in Section 7.2 hereof that is in effect at the end of the prescribed time period, within a commercially reasonable period, and of paying its Decommissioning Cost Share of all Decommissioning Costs during the period. 7.5.3 If the Decommissioning Executive Board, without the vote of the underfunded Party, reasonably approves the Cure Plan proposed in Section 7.5.2, the Cure Plan shall become binding upon that Party. 7.5.4 The Cure Plan terminates when a Party's Decommissioning Trust Fund balance is no less than the amount described in Section 7.5.2.
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Underfunding. If Customer does not provide the required amounts in the DDA that have been requested by United' for payments that have been issued: (1) Customer must immediately correct the deficiency and provide prompt notice to United in either event.
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Underfunding. If Sponsor does not make funds available to pay claims and fees in the required amount and Sponsor fails to provide the required amount of funds within 48 hours after notice of the need to provide such funds, MSI may
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Underfunding. If You do not provide the required amounts for claim payments that have been made: (1) We will make one additional attempt to collect funds before We place claims on hold the 5th business day following when funds should have been provided and suspend any of Our other services under this Agreement for the period of time You do not provide the required payments.
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Related to Underfunding

  • Unfunded Liabilities (i) The aggregate Unfunded Liabilities of all Plans would reasonably be expected to result in a material adverse effect on the financial condition, results of operations, business or Property of the Borrower and its Subsidiaries taken as a whole; (ii) the present value of the unfunded liabilities to provide the accrued benefits under all Foreign Pension Plans in the aggregate would reasonably be expected to result in a material adverse effect on the financial condition, results of operations, business or Property of the Borrower and its Subsidiaries taken as a whole; or (iii) any Reportable Event shall occur in connection with any Plan and such Reportable Event would reasonably be expected to result in a material adverse effect on the financial condition, results of operations, business or Property of the Borrower and its Subsidiaries taken as a whole.

  • Present Value Present Value shall be based only on the interest and mortality rates specified in the Adoption Agreement.

  • Foreign Plans 24 8.2 EFFECT IF DISTRIBUTION DOES NOT OCCUR..................................................24 8.3

  • ERISA Plans Any one or more of the following events occurs with respect to a Plan of the Borrower subject to Title IV of ERISA, provided such event or events could reasonably be expected, in the judgment of the Bank, to subject the Borrower to any tax, penalty or liability (or any combination of the foregoing) which, in the aggregate, could have a material adverse effect on the financial condition of the Borrower: (a) A reportable event shall occur under Section 4043(c) of ERISA with respect to a Plan. (b) Any Plan termination (or commencement of proceedings to terminate a Plan) or the full or partial withdrawal from a Plan by the Borrower or any ERISA Affiliate.

  • Benefit Limit In the event that any payments or benefits to which Employee becomes entitled in accordance with the provisions of this Agreement (or any other agreement with the Company or any other corporation or entity that directly or indirectly controls, is controlled by, or is under common control with the Company) would otherwise constitute a parachute payment under Code Section 280G(b)(2), then such payments and/or benefits will be subject to reduction to the extent necessary to assure that Employee receives only the greater of (i) the amount of those payments which would not constitute such a parachute payment or (ii) the amount which yields Employee the greatest after-tax amount of benefits after taking into account any excise tax imposed under Code Section 4999 on the payments and benefits provided Employee under this Agreement (or on any other payments or benefits to which Employee may become entitled in connection with any change in control or ownership of the Company or the subsequent termination of his employment with the Company). The benefit limits of this paragraph shall be calculated as of the date on which the event triggering any parachute payment is effected, and such calculation shall be completed within thirty (30) days after such effective date. Should the completed calculations require a reduction in benefits in order to satisfy the benefit limit of this paragraph, then the portion of any parachute payment otherwise payable in cash to Employee shall be reduced to the extent necessary to comply with such benefit limit, with each such cash payment to be reduced pro-rata but without any change in the payment dates, and with the cash severance payments detailed herein to be the first and then the benefit payments to be the next such payments so reduced. Should such benefit limit still be exceeded following such reduction, then the number of shares which would otherwise vest on an accelerated basis under each of Employee’s outstanding equity awards shall be reduced to the extent necessary to eliminate such excess, with such reduction to be applied to such equity awards in the same chronological order in which those awards were made.

  • Pension Plans Any of the following events shall occur with respect to any Pension Plan (a) the institution of any steps by the Borrower, any member of its Controlled Group or any other Person to terminate a Pension Plan if, as a result of such termination, the Borrower or any such member could be required to make a contribution to such Pension Plan, or could reasonably expect to incur a liability or obligation to such Pension Plan, in excess of $10,000,000; or (b) a contribution failure occurs with respect to any Pension Plan sufficient to give rise to a Lien under Section 302(f) of ERISA.

  • Multiemployer Plan “Multiemployer Plan” shall mean any “multiemployer plan,” as defined in Section 3(37) or 4001(a)(3) of ERISA, which any Seller or any ERISA Affiliate maintains, administers, contributes to or is required to contribute to, or maintained, administered, contributed to or was required to contribute to, or under which any Seller or any ERISA Affiliate has or may have any Liability.

  • Multiemployer Plan Notices Promptly and in any event within five Business Days after receipt thereof by any Loan Party or any ERISA Affiliate from the sponsor of a Multiemployer Plan, copies of each notice concerning (A) the imposition of Withdrawal Liability by any such Multiemployer Plan, (B) the reorganization or termination, within the meaning of Title IV of ERISA, of any such Multiemployer Plan or (C) the amount of liability incurred, or that may be incurred, by such Loan Party or any ERISA Affiliate in connection with any event described in clause (A) or (B).

  • ERISA Liabilities The Borrower shall not, and shall cause each of its ERISA Affiliates not to, (i) permit the assets of any of their respective Plans to be less than the amount necessary to provide all accrued benefits under such Plans, or (ii) enter into any Multiemployer Plan.

  • ERISA Plan The Buyer is an employee benefit plan within the meaning of Title I of the Employee Retirement Income Security Act of 1974.

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