Applicable Cap definition

Applicable Cap has the meaning set forth in Section 7.2(a).

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.

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.

Examples of Applicable Cap in a sentence

• Applicable Cap: $15,000.00 per covered claim over the life of the claim.

• Applicable Cap: $2,500.00 per covered claim over the life of the claim, provided the member has incurred the first $2,500.00 in fees towards the covered claim.

• Applicable Cap: $2,500.00 per covered claim over the life of the claim provided the member has incurred the first $2,500.00 in fees towards the Family Law covered claim.

• Notwithstanding the foregoing, for amounts in excess of the Applicable Cap that are payable to a Key Employee, or any amount of Plan benefits payable to a Key Employee covered under the Change of Control Plan, benefits under this Plan will begin to be paid no earlier than the first day of the month that is a full six (6) months after the date of the Key Employee’s Job Elimination.

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More Definitions of Applicable Cap

Applicable Cap has the meaning set forth in Exhibit C.

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).

Applicable Cap has the meaning assigned to such term in Section 6.02(e)(ii).

Applicable Cap has the meaning given to that term in Section 11.04(a).

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.

Applicable Cap means, with respect to any period as to which payment hereunder is required, the following percentage of EBIT under the UAE Contract: thirty-three percent (33%) during the UAE Royalties Period. “EBIT” means earnings before interest and taxes, calculated in accordance with GAAP and consistent with current accounting practices.

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).