Examples of Income cap in a sentence
It is the intent of the parties hereto that this Income Cap Trust be construed as a “grantor trust” under Internal Revenue Code Section 677(a).
At any time, Student may cancel the Future Income Remittance obligations under this Agreement by the payment of the Future Income Cap.
The Effective Date of Cancellation is the date that: (a) all necessary funds are provided to Education Equity to satisfy all prior Remittance obligations, and (b) Education Equity has received the Future Income Cap in good, verified funds.
Grantor hereby undertakes to convey and to transfer to the Trustee either (i) his/her entire Social Security, pension, and any other monthly income he/she may receive, or (ii) so much of his/her income as shall in any month exceed the prevailing Tennessee Medicaid Income Cap.