Corporate Capital Interest definition

Corporate Capital Interest means accumulative amounts paid by the Company for an Insurance Policy Annual Premium as set forth in Section 6.1. The Corporate Capital Interest shall be reduced by policy loans, if any (including interest thereon), made by the Company.
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Corporate Capital Interest means the Insurance Policy’s cumulative Annual Premiums paid by the Company in respect of a Policy with respect to which the Participant has entered into a split dollar insurance agreement with the Company, as set forth in Section 6.2. The Corporate Capital Interest shall be reduced by policy loans, if any (including any unpaid interest thereon), taken by the Company. The actual amount of the Corporate Capital Interest shall be determined by the Company, and such determination shall be binding upon the Insurance Carrier and any person having an ownership or beneficial interest in the Insurance Policy.
Sample 1
Corporate Capital Interest means, at the earliest of the following to occur, the cumulative amount of Annual Premiums paid by the Rabbi Trust for an Insurance Policy, less the cumulative amount of Imputed Income attributed to the Executive with respect to that Insurance Policy, plus whichever of the following is applicable: (i) the amount, if any, at the conclusion of the Normal Premium Period, by which the Insurance Policy's remaining cash value exceeds the projected amount of cash value for that Insurance Policy necessary, based on conservative, actuarial funding assumptions as determined at the time by the Plan Administrator, to provide the Executive or his designee with an Insurance Policy that will provide the Scheduled Death Benefit Amount without the necessity of any further payment of Annual Premiums by the Rabbi Trust, the Executive or his designee; (ii) the amount, if any, in the event the Executive dies before the Corporate Capital Interest is otherwise recovered, by which the Death Benefit Proceeds of the Insurance Policy exceed the Scheduled Death Benefit Amount for the Executive at the time of death; or (iii) the amount, if any, in the event of the insolvency of the Company, the termination of the Plan pursuant to Section 12, or the termination of the Executive's employment for any reason other than death or Retirement, by which the Insurance Policy's remaining actual cash value exceeds an estimated cash value determined by the Plan Administrator, provided that the estimated cash value shall be equal to that amount of cash value which would have accumulated in the Insurance Policy had Annual Premiums been paid based upon: (a) the Executive's actual Salary progression rather than the assumed Salary progression utilized by the Company in determining funding of the Insurance Policy; and (b) the actual earnings performance of the Insurance Policy rather than the earnings assumptions attributed to the Insurance Policy utilized by the Company in determining the funding of the Insurance Policy. At all times, the amount of the Corporate Capital Interest shall be determined by the Company, and such determination shall be binding upon the Insurance Company and any person or entity having an ownership or beneficial interest in the Insurance Policy. The Corporate Capital Interest shall be reduced by policy loans, if any (including interest thereon), made by the Rabbi Trust from the Insurance Policy. 12/1/92
Sample 1

Examples of Corporate Capital Interest in a sentence

  • In the event that the death benefit from the Insurance Policy exceeds the sum of the Company's Corporate Capital Interest and the Participant's death benefit under Sections 5.1 or 5.2, the excess death proceeds shall be paid to the Participant's beneficiary.

  • To secure the repayment of the Company’s Corporate Capital Interest (if applicable), each Participant who has entered into a split dollar insurance agreement with the Company shall assign such Policy to 3M as part of such Agreement.

  • The Company shall, at its option, have the authority to borrow against any Insurance Policy up to an amount not to exceed the Corporate Capital Interest.

  • An agreement whereby the Participant, or his or her designee, as owner of the Insurance Policy, sets over certain Insurance Policy rights to the Company as collateral security for the Company's Corporate Capital Interest and pursuant to the Plan.

  • If the Plan is terminated and the Company has instituted at the time of termination of the Plan a comparable replacement plan providing benefits, security and a guarantee to all Executives not less than the benefits, security and guarantee provided under the Plan, the Rabbi Trust may recover the Corporate Capital Interest from the Insurance Policies and the guarantee provided under Section 8 of the Plan shall be void and of no further force and effect.

  • Following termination of the Plan and recovery of the Corporate Capital Interest, the Executive or his designee will thereafter have the option of surrendering his share of the Insurance Policy for its remaining cash value or making Annual Premium payments, if required, directly to the Insurance Company in order to maintain the Insurance Policy.

  • All medical consultations and examinations and must:• Be performed by or under the direct supervision of a licensed physician.

  • If the Executive's employment is terminated for any reason other than death or Retirement, and the Executive's termination is not in connection with a Change in Control of the Company, the Rabbi Trust will withdraw the Corporate Capital Interest and terminate the Assignment.

  • The Executive or his designee may continue the Scheduled Death Benefit Amount from the Insurance Policy or withdraw all or part of the remaining cash value at any point after the Rabbi Trust has recovered the Corporate Capital Interest, although such withdrawing of cash value shall void the guarantee under Section 8.

  • Except as otherwise provided in the Plan, the Executive is not responsible for payment of Annual Premiums, but under United States tax laws in effect on the effective date of the Plan, the Executive may be responsible for paying income tax on the Imputed Income attributed to the Executive's participation in the Plan until the Rabbi Trust recovers the Corporate Capital Interest and cancels the Assignment Form.

Related to Corporate Capital Interest

  • Capital Interest means the proportion that a Member's positive Capital Account bears to the aggregate positive Capital Accounts of all Members whose Capital Accounts have positive balances as may be adjusted from time to time.

  • Capital Interests means any and all shares, interests, participations, rights or other equivalents (however designated) of capital stock, including, without limitation, with respect to partnerships, partnership interests (whether general or limited) and any other interest or participation that confers on a person the right to receive a share of the profits and losses of, or distributions of assets of, such partnership.

  • Redeemable Capital Interests in any Person means any equity security of such Person that by its terms (or by terms of any security into which it is convertible or for which it is exchangeable), or otherwise (including the passage of time or the happening of an event), is required to be redeemed, is redeemable at the option of the holder thereof in whole or in part (including by operation of a sinking fund), or is convertible or exchangeable for Debt of such Person at the option of the holder thereof, in whole or in part, at any time prior to the Stated Maturity of the Notes; provided that only the portion of such equity security that is required to be redeemed, is so convertible or exchangeable or is so redeemable at the option of the holder thereof before such date will be deemed to be Redeemable Capital Interests. Notwithstanding the preceding sentence, any equity security that would constitute Redeemable Capital Interests solely because the holders of the equity security have the right to require the Company to repurchase such equity security upon the occurrence of a change of control or an asset sale will not constitute Redeemable Capital Interests if the terms of such equity security provide that the Company may not repurchase or redeem any such equity security pursuant to such provisions unless such repurchase or redemption complies with Section 4.07 hereof. The amount of Redeemable Capital Interests deemed to be outstanding at any time for purposes of this Indenture will be the maximum amount that the Company and its Restricted Subsidiaries may become obligated to pay upon the maturity of, or pursuant to any mandatory redemption provisions of, such Redeemable Capital Interests or portion thereof, exclusive of accrued dividends.

  • Qualified Capital Interests in any Person means a class of Capital Interests other than Redeemable Capital Interests.

  • Capital investment means an investment in real property, personal property, or both, at a

  • Private Capital means, if the Issuer is Matching Private Investment Supported (as defined in the Definitive Agreement), the equity capital received by the Issuer or the applicable Affiliate of the Issuer from one or more non-governmental investors in accordance with Section 1.3(m) of the Definitive Agreement.

  • Supplemental Interest Account As defined in Section 4.07 hereof.

  • Venture capital fund means a private fund that meets the definition of a venture capital fund in SEC Rule 203(l)-1, 17 C.F.R. § 275.203(l)-1.

  • Financial Interest means either:

  • Significant Financial Interest means anything of monetary value, including but not limited to, salary or other payments for services (e.g., consulting fees or honoraria); equity interests (e.g., stocks, stock options or other ownership interests); and intellectual property rights (e.g., patents, copyrights, license agreements, and royalties from such rights). The term does not include:

  • Corporate Finance Fee means the fee to be paid to the Agent by the Issuer in consideration of corporate finance and structuring services provided by the Agent;

  • Capital Securities means undivided beneficial interests in the assets of the Trust which rank pari passu with Common Securities issued by the Trust; provided, however, that upon the occurrence and continuance of an Event of Default (as defined in the Declaration), the rights of holders of such Common Securities to payment in respect of distributions and payments upon liquidation, redemption and otherwise are subordinated to the rights of holders of such Capital Securities.

  • Supplemental Interest Trust The corpus of a trust created pursuant to Section 5.07 of this Agreement and designated as the “Supplemental Interest Trust,” consisting of the Swap Agreement, the Swap Account, the Interest Rate Cap Agreement, the Interest Rate Cap Account, the right to receive the Class X Distributable Amount as provided in Section 5.02(f)(vi), the Class LT4-I interest in REMIC 4 and the right to receive Class I Shortfalls.

  • General Partner Interest means a Partnership Interest held by the General Partner, in its capacity as general partner. A General Partner Interest may be expressed as a number of Partnership Units.

  • Portfolio Securities or "investments" of the Series shall mean, respectively, such assets, net assets, securities, portfolio securities or investments which are from time to time under the management of the Subadviser pursuant to this Agreement.

  • Global Intercompany Note means the global intercompany note substantially in the form of Exhibit F pursuant to which intercompany obligations and advances owed by any Loan Party are subordinated to the Obligations.

  • Definitive Capital Securities means any Capital Securities in definitive form issued by the Trust.

  • Unit Capital means the aggregate of the face value of units issued under the scheme and outstanding for the time being.

  • Junior Capital collectively, any Indebtedness of any Parent or the Borrower that (a) is not secured by any asset of the Borrower or any Restricted Subsidiary, (b) is expressly subordinated to the prior payment in full of the Loans on terms consistent with those for senior subordinated high yield debt securities issued by U.S. companies sponsored by either of the Sponsors (as determined in good faith by the Borrower, which determination shall be conclusive), (c) has a final maturity date that is not earlier than, and provides for no scheduled payments of principal prior to, the date that is 91 days after the Initial Term Loan Maturity Date (other than through conversion or exchange of any such Indebtedness for Capital Stock (other than Disqualified Stock) of the Borrower, Capital Stock of any Parent or any other Junior Capital), (d) has no mandatory redemption or prepayment obligations other than (x) obligations that are subject to the prior payment in full in cash of the Loans or (y) pursuant to an escrow or similar arrangement with respect to the proceeds of such Junior Capital and (e) does not require the payment of cash interest until the date that is 91 days following the Initial Term Loan Maturity Date.

  • registered interest means an international interest, a registrable non-consensual right or interest or a national interest specified in a notice of a national interest registered pursuant to Chapter V;

  • General Partnership Interest means a Partnership Interest held by the General Partner that is a general partnership interest.

  • Material financial interest means a personal and pecuniary interest, direct or indirect, accruing to a public servant or spouse, either individually or in combination with each other. Notwithstanding the foregoing, the following shall not be deemed to be a material financial interest with respect to a business with which a public servant may be associated:

  • Asset Management Company/UTI AMC/AMC/Investment Manager means the UTI Asset Management Company Limited incorporated under the Companies Act, 1956, (1 of 1956) [replaced by The Companies Act, 2013 (No.18 of 2013)] and approved as such by Securities and Exchange Board of India (SEBI) under sub-regulation (2) of Regulation 21 to act as the Investment Manager to the schemes of UTI Mutual Fund.

  • Corporation Securities means (i) shares of Common Stock, (ii) shares of Preferred Stock (other than preferred stock described in Section 1504(a)(4) of the Code), (iii) warrants, rights, or options (including options within the meaning of Treasury Regulation § 1.382-2T(h)(4)(v)) to purchase stock of the Corporation, and (iv) any other interest that would be treated as “stock” of the Corporation pursuant to Treasury Regulation § 1.382-2T(f)(18).

  • Asset Management Company/UTI AMC/AMC/Investment Manager means the UTI Asset Management Company Limited incorporated under the Companies Act, 1956, (1 of 1956) replaced by The Companies Act, 2013 (No. 18 of 2013) and approved as such by Securities and Exchange Board of India (SEBI) under sub-regulation (2) of Regulation 21 to act as the Investment Manager to the schemes of UTI Mutual Fund;

  • Delaware LLC Division means the statutory division of any Delaware LLC into two or more Delaware LLCs pursuant to Section 18-217 of the Delaware Limited Liability Company Act.