Examples of Default Contribution in a sentence
Accordingly, the amount of such Default (the “Default Amount”) shall accrue interest commencing on the Drawdown Date at the Default Rate and ending on the date paid or contributed as a Default Contribution or loaned as a Total Drawdown Default Loan or Default Loan.
The Corporation will recalculate the required Listing Exchange Default Contribution using the formula in the preceding sentence for each Listing Exchange as of the end of each calendar year, provided that the Listing Exchange Default Contribution will not be reduced as a result of any such recalculation.
In the event of an increase in its required Listing Exchange Default Contribution as of any calendar year-end, the Listing Exchange shall be required to increase its Listing Exchange Contribution to the required level, within the timeframe and in the manner specified in the policies and procedures of the Corporation as in effect from time to time.
That is, to reflect that the only reason that many have not opted out is because they gain even by not contributing we assume non-default contributions by three-quarters of those drawn in by the program’s generosity.The expected rate of default participation (3 percent contributions among those participating) by age and 2008 income are show in Table 3: TABLE 3Expected Default Contribution Rates by Age and Income (Percent) For the lowest-income group, we assume that non-default contributions are zero.
Immediately upon receipt of any Default Contribution by the Company, the Company shall issue to the Crestwood Member a number of Series C Preferred Units equal to the amount of such Default Contribution divided by the Series C Unit Price.