Deferral Condition definition

Deferral Condition means, as applicable, (i) if such Transferred Asset constituted a Deferred Asset pursuant to the provisions of Section 8.5, then the discharge of the Title Exception(s) applicable to such Property or the written election by Buyer to accept title to such Property subject to such Title Exception(s), (ii) if such Transferred Asset constituted a Deferred Asset pursuant to the provisions of Section 8.6, then the discharge of the Voluntary Title Exception(s) or Monetary Title Exception(s) applicable to such Property or the written election by Buyer to accept title to such Property subject to such Voluntary Title Exception(s) or Monetary Title Exception(s), or (iii) if such Transferred Asset constituted a Deferred Asset pursuant to the provisions of Section 14.33, then the completion of the repairs as evidenced by a certificate of substantial completion executed by the relevant Seller’s general contractor/architect.
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Deferral Condition means with respect to any Deferred Asset, the specified condition to Closing relating to such Deferred Asset set forth in this Agreement, including those specifically set forth in Section 7.1(a) hereof, that, unless satisfied or waived, results in the Closing with respect to such Deferred Asset being delayed.
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Deferral Condition shall have the meaning set forth in Section 12(e).
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Examples of Deferral Condition in a sentence

  • Except in a bankruptcy, all payments on this Security will be conditional upon not triggering the Required Deferral Condition.

  • Upon the occurrence of a Mandatory Payment Event or a Mandatory Partial Payment Event, all Deferred Interest Payments will become mandatorily due and payable in full on the date of either such event, notwithstanding any further Deferral Notice or an occurrence or continuance of a Required Deferral Condition.

  • Any such preferred units issued shall be promptly redeemed (i) when the Cash Deferral Condition which prompted their issuance no longer exists, (ii) upon consummation of a Public Offering of the Company or Xxxxxxx Foods Holdings, Inc.

  • The "Required Deferral Condition" will be met if the Company determines that the Solvency Conditions (i) are not satisfied on the Relevant Date, or (ii) will not be satisfied following the relevant Payment.

  • The Company shall give a Deferral Notice in the case of a Required Deferral Condition and may give a Deferral Notice, in its sole discretion and for any reason, in the case of an Optionally Deferred Payment, except that any such Deferral Notice as to a payment required to be paid pursuant to a Mandatory Payment Event or Mandatory Partial Payment Event pursuant to Section 2.5(a) below shall have no force or effect.

  • Subject to the existence of a Required Deferral Condition, the Company agrees that it will not defer any payment required to be paid as a result of a Mandatory Payment Event or Mandatory Partial Payment Event (as contemplated by Section 2.5(a) only) on the Capital Securities.

  • The Required Deferral Condition will be met if the Company (i) is not Solvent or making the relevant Payment will result in the Company becoming not Solvent or (ii) is subject to a Regulatory Event or making the relevant Payment will result in the Company becoming subject to a Regulatory Event.

  • Except in a Winding Up, all payments, other than certain payments required to be made pursuant to any Mandatory Payment Event, or Mandatory Partial Payment Event on the Securities, will be conditional upon no Required Deferral Condition existing at the time of payment.

  • If the Company fails to make payment when due, and such failure continues for 14 days as a result of the existence of a Required Deferral Condition, such failure does not constitute a Payment Default but instead constitutes a Payment Event.

  • If Agent disagrees with such Deferral Condition determination, the independent certified public accountant at that time retained by the Corporation to audit its books and records shall determine if a Deferral Condition exists, and a determination by such independent certified public accountant shall be final, conclusive and binding.


More Definitions of Deferral Condition

Deferral Condition has the meaning set forth in Section 3.7(b)(ii).
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Deferral Condition has the meaning set forth in Section 2.11.
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Related to Deferral Condition

  • Deferral Election means the Participant’s election under Section 3.1 to defer all or a portion of his or her Compensation.

  • Deferral Contribution means any contribution made to the Plan by the Employer in accordance with the provisions of Section 5.03.

  • Compensation Deferral means the amount or amounts of the Director's Compensation deferred under the provisions of Section 3 of this Agreement.

  • Deferral Period has the meaning set forth in Section 3(i) hereof.

  • Deferral means the amount or amounts of a Participant’s Compensation deferred under the provisions of Section 3.

  • Deferral Election Form means the form established from time to time by the Plan Administrator that the Director completes, signs and returns to the Plan Administrator to designate the amount of the Deferrals.

  • Deferral Year means each calendar year during which the Director makes, or is entitled to make, Compensation Deferrals under Section 3 hereof.

  • Elective Deferral means the portion of Compensation which is deferred by a Participant under Section 4.1.

  • Bonus Deferral means the amount of a Participant’s Bonus Compensation which the Participant elects to have withheld on a pre-tax basis from his Bonus Compensation and credited to his account pursuant to Section 4.1.

  • Elective Deferral Account means the account established hereunder to which Elective Deferrals (including a separate accounting for Catch-Up Contributions) are allocated. Amounts in the Participant's Elective Deferral Account are nonforfeitable when made and are subject to the distribution restrictions of Section 12.2(e). The Elective Deferral Account may consist of the

  • Deferral Contributions are Salary Reduction Contributions and Cash or Deferred Contributions the Employer contributes to the Trust on behalf of an Eligible Employee, irrespective of whether, in the case of Cash or Deferred Contributions, the contribution is at the election of the Employee. For Salary Reduction Contributions, the terms "deferral contributions" and "elective deferrals" have the same meaning.

  • Non-Elective Contribution means the Employer contributions to the Plan excluding, however, contributions made pursuant to the Participant's deferral election provided for in Section 4.2 and any Qualified Non-Elective Contribution used in the "Actual Deferral Percentage" tests.

  • Excess Elective Deferrals means the amount of Elective Deferrals (as defined below) for a calendar year that the Participant designates to the Plan pursuant to the following procedure. The Participant’s designation: shall be submitted to the Administrator in writing no later than March 1; shall specify the Participant’s Excess Elective Deferrals for the preceding calendar year; and shall be accompanied by the Participant’s written statement that if the Excess Elective Deferrals is not distributed, it will, when added to amounts deferred under other plans or arrangements described in Section 401(k), 408(k) or 403(b) of the Code, exceed the limit imposed on the Participant by Section 402(g) of the Code for the year in which the deferral occurred. Excess Elective Deferrals shall mean those Elective Deferrals that are includible in a Participant's gross income under Section 402(g) of the Code to the extent such Participant's Elective Deferrals for a taxable year exceed the dollar limitation under such Code section.

  • Payment Election means an election pursuant to Section 5.1.

  • Optional Deferral Provision means, as to any Qualifying Capital Securities, a provision in the terms thereof or of the related transaction agreements to the effect that:

  • Plan Year means the calendar year.

  • Annual Deferral Amount means that portion of a Participant's Base Annual Salary and Annual Bonus that a Participant elects to have, and is deferred, in accordance with Article 3, for any one Plan Year. In the event of a Participant's Retirement, Disability (if deferrals cease in accordance with Section 8.1), death or a Termination of Employment prior to the end of a Plan Year, such year's Annual Deferral Amount shall be the actual amount withheld prior to such event.

  • Deferral Agreement means an irrevocable agreement entered into between a Nonemployee Director and the Company to authorize the Company to reduce the amount of the Nonemployee Director’s Annual Retainer and credit the amount of such reduction to the Plan consistent with the requirements of Section 409A of the Code. A Deferral Agreement shall contain such provisions, consistent with the provisions of the Plan, as may be established from time to time by the Company or the Board, including without limitation:

  • Safe Harbor has the meaning set forth in Section 10.2(d).

  • Deferral Amount means the sum of all of a Participant's Annual Deferral Amounts.

  • Deferrals means the amount of the Director’s Compensation that the Director elects to defer according to this Agreement.

  • Elective Deferrals are all Salary Reduction Contributions and that portion of any Cash or Deferred Contribution which the Employer contributes to the Trust at the election of an Eligible Employee. Any portion of a Cash or Deferred Contribution contributed to the Trust because of the Employee's failure to make a cash election is an elective deferral. However, any portion of a Cash or Deferred Contribution over which the Employee does not have a cash election is not an elective deferral. Elective deferrals do not include amounts which have become currently available to the Employee prior to the election nor amounts designated as nondeductible contributions at the time of deferral or contribution.

  • Deferral Date means the date Fees would otherwise have been paid to the Participant.

  • 10) Election has the meaning set forth in Section 6.05(a).