Exempted Amount definition

Exempted Amount means the lesser of (a) the total of all severance payments owed but not yet made to the Eligible Senior Executive Officer on the effective date of a Change in Control (in the case of Section 4(b)(1)) or termination of employment (in the case of Section 4(b)(2)) and (b) the maximum amount of severance payments described in the last sentence of Section 4(c)(1).

Exempted Amount means any sums transferred or distributed from a Seller or Anglo to, or for the benefit of, the Seller Guarantor after the date of this Deed that is owing to the Seller Guarantor from a Seller or Anglo or to which the Seller Guarantor is entitled by way of dividend declared by a Seller or Anglo;

Exempted Amount means any sums transferred or distributed from the Seller to, or for the benefit of, the Seller Guarantor after the date of this Deed that is owing to the Seller Guarantor from the Seller or to which the Seller Guarantor is entitled by way of dividend declared by the Seller;

Examples of Exempted Amount in a sentence

• Name of Officer MS Cheng Lee LeeDesignation Accounts Manager DEMONSTRATION COMPANYName and Address of Employer 8 Jalan USJ 10/1MUEP Subang Jaya Selangor Poskod 47620Employer’s Telephone No. 03-56329094Type of Allowance/Perquisite/Gift/Benefit Exempted Amount (RM) Type of Allowance/Perquisite/Gift/Benefit Exempted Amount (RM) Date13/03/2017PENYATA BAYARAN CUKAI OLEH MAJIKAN PCB 2(II)-Pin.

• The Company will pay the Remaining Amount, if any, according to the installment schedule set forth in Section 4(a), beginning at the time the Exempted Amount would have been paid in full if such amount were paid in accordance with the installment schedule set forth in Section 4(a).

• If an Eligible Executive Officer’s employment terminates on or after the effective date of a Change in Control then upon the effective date of such termination of employment (subject, however, to the release described in Section 2(a) first becoming effective) the Company will pay the Exempted Amount (as defined below) to such Eligible Executive Officer in a lump sum upon termination of employment.

• The Aggregate Net Proceeds minus the Exempted Amount is hereinafter referred to as the "Ratable Net Proceeds".

• After the Collateral Agent has distributed the Exempted Amount to the Credit Agent, the Collateral Agent shall distribute the Ratable Net Proceeds as set forth in the following subparagraphs.

• The limitations of the Exempted Amount shall not apply to any liability of Sellers for a breach of Sellers' Warranties contained in Sections 8.1 (Ownership), 8.8 (Environmental Matters) and 8.20 (Tax).

• To the extent that the amount of the Aggregate Net Proceeds actually in the possession of the Collateral Agent are sufficient, the Collateral Agent shall first distribute to the Credit Agent for the benefit of the Lenders an amount equal to the Exempted Amount.

• Seller shall promptly reimburse Purchaser's cost incurred in satisfaction of such warranty claims, subject to the Exempted Amount.

• If an Eligible Senior Executive Officer’s employment terminates on or after the effective date of a Change in Control then upon the effective date of such termination of employment (subject, however, to the release described in Section 2(a) first becoming effective) the Company will pay the Exempted Amount (as defined below) to such Eligible Senior Executive Officer in a lump sum upon termination of employment.

• Any exemption granted by the Board hereunder may be granted in whole or in part, and may be subject to limitations or conditions (including a requirement that the Requesting Person agree that it will not acquire Beneficial Ownership of shares of Common Stock in excess of the Exempted Amount), in each case as and to the extent the Board shall determine, in its sole and absolute discretion, to be necessary or desirable to preserve the availability to the Company of the Tax Benefits.

More Definitions of Exempted Amount

Exempted Amount has the meaning specified in Section 10.5.

Exempted Amount means an aggregate amount of US$500,000 which Seller is exempted from satisfying with regard to the indemnities provided both under Clause 7.4 (product warranty claims) and Clause 8.6.1 (Seller's indemnities).

Exempted Amount means an amount equal to the lesser of (A) the Credit Indebtedness and (B) sum of (i) 10% of the Company's Consolidated Tangible Net Worth (as defined in the Indentures) as of June 30, 1994, and (ii) the portion of the Credit Indebtedness constituting purchase money borrowings by the Company or a Borrowing Subsidiary. The parties hereto acknowledge that 10% of the Company's Consolidated Tangible Net Worth equals $50,300,000 as of June 30, 1994. The Collateral Agent shall be entitled to rely without independent investigation upon the Credit Agent's determination of the amount of Credit Indebtedness which constitutes purchase money borrowings. The Aggregate Net Proceeds minus the Exempted Amount is hereinafter referred to as the "Ratable Net Proceeds". After the Collateral Agent has distributed the Exempted Amount to the Credit Agent, the Collateral Agent shall distribute the Ratable Net Proceeds as set forth in the following subparagraphs.