Excess Income definition

Excess Income on any Distribution Date shall mean an amount equal to the excess, if any, of (a) interest and other income (net of investment expenses) on such Distribution Date with respect to the funds on deposit in the Series Principal Funding Account during the related Interest Period over (b) the amount on deposit in the Series Principal Funding Account in respect of Certificate Principal during such Interest Period multiplied by a fraction, the numerator of which is the Certificate Rate or the Class Weighted Average Certificate Rate, as applicable, for the Class for whose benefit the amounts on deposit in the Series Principal Funding Account are held during such Interest Period and the denominator of which is (x) if the relevant Certificate Rate is to be calculated on the basis of the actual number of days elapsed and a 360-day year, 360 divided by the actual number of days from and including the immediately preceding Distribution Date to but excluding the current Distribution Date or (y) if the relevant Certificate Rate is to be calculated on the basis of a 360-day year of twelve 30-day months, twelve.

Split View

AI-Powered Contracts

Draft, Review & Redline at the Speed of AI

Get StartedSchedule a Demo

Excess Income means the amount by which a member’s “income” for a year of assessment exceeds £150,000. “Income” means the member’s total income for a year of assessment before the deduction of any of the following:

Excess Income means the positive difference, if any, between (a) the Aggregate Income and (b) that portion of the Aggregate Income on which the Base Performance Fee is owed in accordance with Section 3 below (for the avoidance of doubt, also taking into account the Base Performance Fee).

Examples of Excess Income in a sentence

• Excess Income equals the greater of zero or Net Income minus the product of ((the Ten Year U.S. Treasury Rate plus 200 basis points) x (Average Net Worth divided by 4)).

• Excess Income shall be payable monthly at the time for payment of Monthly Rent.

• Tenant and Landlord agree that 100% of the Excess Income (as defined under the Lease) from a sublease of the Additional Premises through December 31, 2011 shall be paid to Landlord, except if Tenant subleases to Sanofi, in which event 100% of the Excess Income from such sublease to Sanofi shall be paid to Landlord through the term of such sublease to Sanofi and any extension thereof.

• Landlord and Tenant have agreed to amend the Lease to, among other things, change the allocation of Excess Income with respect to assignment and subletting, including without limitation the Sanofi Sublease, all as more particularly provided below.

• Any such costs paid by Tenant shall be verified by written documentation in form, scope and substance reasonably satisfactory to Landlord within thirty (30) days after the date of delivery of possession to the assignee or sublessee or they shall be disregarded in computing Excess Income.

More Definitions of Excess Income

Excess Income means the amount by which a pension holder’s income for a year of assessment exceeds £150,000;

Excess Income means an amount equal to the net income of the REIT for a taxation year, determined in accordance with the provisions of the Tax Act other than Paragraph 82(l)(b) and Subsection 104(6) thereof, including net realized capital gains (other than (a) income and taxable capital gains of the REIT arising on or in connection with an in specie redemption of Units which are paid or payable by the REIT to redeeming Unitholders,

Excess Income on any Distribution Date shall mean an amount equal to the excess, if any, of (a) interest and other income (net of investment expenses) on such Distribution Date with respect to the funds on deposit in the Series Principal Funding Account during the related Interest Period over (b) the amount on deposit in the Series Principal Funding Account in respect of Certificate Principal during such Interest Period multiplied by a fraction, the numerator of which is

Excess Income means the amount by which the gross income exceeds the Title XIX medical assistance level for Region A as established annually by the Department of Social Services (DSS).

Excess Income means the excess of Net Income over Forecast Income for a full fiscal year.

Excess Income on any Distribution Date shall mean an amount equal to the excess, if any, of (a) interest and other income (net of investment expenses) on such Distribution Date with respect to the funds on deposit in the Series Principal Funding Account during the related Interest Period over (b) the amount on deposit in the Series Principal Funding Account in respect of Certificate Principal during such Interest Period multiplied by a fraction, the numerator of which is the Certificate Rate or the Class Weighted Average Certificate Rate, as applicable, for the Class for whose benefit the amounts on deposit in the Series Principal Funding Account are held during such Interest Period and the denominator of which is (x) if the relevant Certificate Rate is

Excess Income shall have the meaning ascribed to it in Section 10.1(a).