Funding Position definition

Funding Position means the amount (if any) at any relevant date by which the liabilities of the Scheme calculated on the basis of the Agreed Assumptions exceeds the assets of the Scheme (and for the avoidance of doubt, for this purpose, the value of any rights arising under this Deed (including the value of any monies held in the Escrow Account) shall be treated as zero, except that any amounts already due and payable pursuant to this Deed by the Guarantor to the Scheme shall be treated for the purpose of the calculation as having been paid, but without prejudice to the Guarantor’s continuing obligation to make the payment), or vice versa.
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Examples of Funding Position in a sentence

  • Both the Trustee and the Guarantor shall have unrestricted access to the ALS for purposes of accessing the Estimated Funding Position and the Estimated Insurance Buy-Out Deficit as at any given date.

  • In the event that the parties are unable to agree the Replacement Estimated Relevant Funding Position, that dispute will be resolved by arbitration in accordance with the terms set out in Clause 14(g)(v) and the amount so determined shall be the Replacement Estimated Relevant Funding Position.

  • Neither the Maximum Funding Position nor the Financial Position are to be adjusted retroactively due to any error which may be discovered in the computations of data used in making the computations.

  • In the event of a breach of this Clause by the Trustee which has been notified to the Trustee by the Guarantor but not remedied, the Estimated Relevant Funding Position at any given time (when looked at following the breach) shall be as determined by the Guarantor based on the terms of the Configuration Document as it stood prior to such amendment in contravention of this Clause.

  • The Company shall make a contribution to the Fund up to five cents (5¢), per Appendix E, B.(a)(i), multiplied by the total number of straight time hours worked by each employee during the preceding month, or such lesser amount as will bring the Net Worth of the Fund up to the maximum Funding Position as provided in Section 2 b).

  • Where the recipient of the Error Notice disputes the existence of the Manifest Error, or the ALS Failure, or disputes whether the Replacement Estimated Relevant Funding Position is itself subject to a Manifest Error, or both, they shall, within 5 Business Days of their receipt of the Error Notice, notify the other party (being the Guarantor or the Trustee) in writing (the “Error Dispute Notice”).

  • As soon as practicable after such information has been provided to the Seller’s actuary and in any event prior to Closing, the Seller shall instruct the Seller’s actuary to determine, as of December 31, 2007, the amount of the Deficit Funding Position for each applicable DB Pension Plan.

  • Neither the Maximum Funding Position nor the Financial Position to be adjusted retroactively due to any error which may be discovered in the computations or data used in which may be discovered in the computations or data used in makingthe computations.