Applicable Cap definition

Applicable Cap has the meaning set forth in Section 7.2(a).
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Applicable Cap means the lesser of: (a) two times (2x) the sum of the Officer’s annual rate of pay determined as of December 31st of the calendar year prior to the year in which the Officer’s actual separation from service occurs, or (b) two times (2x) the maximum amount that may be taken into account under a tax-qualified retirement plan pursuant to Code section 401(a)(17) in effect for the calendar year in which the Officer’s actual separation from service occurs ( $345,000 for calendar year 2024; as indexed thereafter). In calculating the Applicable Cap, all amounts that are defined as payments under a “separation pay plan” sponsored by the Corporation for an individual Officer are aggregated.
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Applicable Cap means the lesser of (i) two times the sum of the Officer’s annual rate of pay determined as of December 31st of the calendar year prior to the year in which the Officer’s Job Elimination occurs, or (ii) two times the maximum amount that may be taken into account under a qualified plan pursuant to Code section 401(a)(17) in effect for the calendar year in which the Officer’s Job Elimination occurs. In calculating the Applicable Cap, all amounts that are defined as payments under a “separation pay plan” sponsored by the Corporation for an individual Officer are aggregated.
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Examples of Applicable Cap in a sentence

  • Seller covenants with Purchaser that from and after the Closing and until the date thirty (30) months after the Closing Date, Seller will maintain on hand cash, cash equivalents and/or marketable securities having a market value at all times in an amount which exceeds Seller's liabilities (such liabilities being calculated in accordance with GAAP) by not less than the Applicable Cap Amount.

  • In addition, notwithstanding anything to the contrary contained in this Agreement, in no event shall the aggregate liability of Seller pursuant to clause (i) of Section 9.01(a) exceed the Applicable Cap Amount.

  • Applicable Cap Rate shall mean: 9.5% “12-month net operating income of the Contributed Asset” shall mean: (a) the Gross Revenue of the Property, minus (b) Operating Expenses for the Property, for the current trailing twelve (12)-month period.

  • Subject to the provisions of Section 8.3(a), the indemnification obligations under this Section 8.3(b) and shall be the sole and exclusive remedy of the Purchaser Indemnified Persons with respect to any Losses incurred by any Purchaser Indemnified Persons relating to or in connection with the transactions contemplated by this Agreement and the aggregate liability of the Seller and Stockholders for indemnification hereunder shall be limited to the sum of the Purchase Price (the "Applicable Cap").

  • In addition to the remedies under the Agreement, (1) any of the Tranche B that is not repaid before the maturity date for Tranche B as defined in the loan documents will be subject to a 1.75:1 offset at the time of conversion and (2) the Applicable Cap Rate shall increase to 8.75%.


More Definitions of Applicable Cap

Applicable Cap means that number of Units as is determined by multiplying the Seller's Capital by the percentage cap described in the then applicable Section 1.01 (b) (ii) (A), (C), (D), (E), or (F).
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Applicable Cap has the meaning set forth in Exhibit C.
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Applicable Cap means with respect to (i) Advanced Payments, US $4,500,000, (ii) Transaction Payments, US $7,500,000, (iii) Vacation and Salary Payments, US $4,900,000, (iv) Capital Leases, US $4,800,000, and (v) Deferred Compensation, US $3,300,000.
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Applicable Cap means the capitalization rate (expressed as a decimal) applicable to a Qualified Lease based on the length of its Qualified Term according to the following table: 36-60 months 0.08 19-35 months 0.12 0-18 months 0.15
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Applicable Cap has the meaning assigned to such term in Section 6.02(e)(ii).
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Applicable Cap means (i) for calendar year 2022, $187,000,000 (one hundred eighty-seven million dollars) and (ii) for calendar year 2023, $139,000,000 (one hundred thirty-nine million dollars).
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Applicable Cap means, with respect to a Company Group, fifteen (15)% of the applicable Company Group Amount for such Company Group. “Applicable Deductible” means, with respect to a Company Group, 1% of the applicable Company Group Amount for such Company Group.
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