Maximum ACP definition

Maximum ACP means the maximum permissible Highly Compensated ACP for a Plan Year, based upon the Non-Highly Compensated ACP for the Plan Year in accordance with the following schedule:
Sample 1
Maximum ACP means the maximum permissible Highly Compensated ACP for a Plan Year, based upon the Non- Highly Compensated ACP for the Plan Year in accordance with the following schedule: If the Non-Highly Compensated ACP is: The Maximum ACP is:2% or lessthe Non-Highly Compensated ACP multiplied by twogreater than 2% but less than 8%the Non-Highly Compensated ACP plus two percentage points8% or morethe Non-Highly Compensated ACP multiplied by 1.25 The Maximum ACP will be determined using the Non-Highly Compensated ACP for the current year.
Sample 1
Maximum ACP means the maximum permissible Highly Compensated ACP for a Plan Year, based upon the Non-Highly Compensated ACP for the preceding Plan Year (or the current Plan Year, as applicable) in accordance with the following schedule:If the Non-Highly Compensated ACP is The Maximum ACP is 2% or less the Non-Highly Compensated ACP multiplied by two greater than 2% but less than 8% the Non-Highly Compensated ACP plus two percentage points 8% or more the Non-Highly Compensated ACP multiplied by 1.25 If the Plan ceases to meet the requirements set forth in Section 401(m)(11) of the Code during a Plan Year by reason of an amendment to the Plan, then the Maximum ACP will be determined using the Non-Highly Compensated ACP for the current Plan Year. In all other cases, the Maximum ACP will be determined using the Non-Highly Compensated ACP for the preceding Plan Year, unless the Administrator, with the consent of the Secretary of the Treasury or his delegate, adopts a written resolution providing that the Maximum ACP for such Plan Year shall be based upon the Non-Highly Compensated ACP for the same Plan Year rather than the preceding Plan Year.
Sample 1

Examples of Maximum ACP in a sentence

  • The Matching Contributions of Participants who are Highly Compensated Employees shall be further limited for each Plan Year so that the Highly Compensated ACP does not exceed the Maximum ACP.

  • The Matching Contributions of Participants who are Highly Compensated Employees shall be further limited for each Plan Year so that the Highly Compensated ACP does not exceed the Maximum ACP (or such lower amount as is determined under paragraph (e)).

  • Due to the unavailability of an estimate of the ACP Rate, the IPA opted to use the Maximum ACP Rate for comparative rate impact purposes.Table 12: RPS Compliance - Comparative Rate Impact on ARES Customers Utility Territory The Maximum ACP Rates for the June 2017 through May 2018 period are shown in Table 12 above.

Related to Maximum ACP

  • Maximum Credit Amount means, as to each Lender, the amount set forth opposite such Lender’s name on Annex I under the caption “Maximum Credit Amounts”, as the same may be (a) reduced or terminated from time to time in connection with a reduction or termination of the Aggregate Maximum Credit Amounts pursuant to Section 2.06(b) or (b) modified from time to time pursuant to any assignment permitted by Section 12.04(b).

  • Maximum Facility Amount means the aggregate Commitments as then in effect, which amount shall not exceed $200,000,000; provided that at all times after the Reinvestment Period, the Maximum Facility Amount shall mean the aggregate Advances Outstanding at such time.

  • Maximum Availability means, as of any date of determination, the difference of (i) the Facility Amount minus (ii) the balance of all unfunded Advances approved but not yet funded minus (iii) the Aggregate Unfunded Amount plus (iv) all amounts on deposit in the Unfunded Exposure Account, each as of such date of determination.

  • Maximum Advance Amount shall be Two Hundred Fifty Thousand Dollars ($250,000) per Advance Notice.

  • Maximum Daily Limit means the maximum allowable "Daily Concentration" (defined above) when expressed as a concentration (e.g. mg/l), otherwise, it means the maximum allowable "Daily Quantity" as defined above, unless it is expressed as a flow quantity. If expressed as a flow quantity it means "Maximum Daily Flow" as defined in Section 22a-430-3(a) of the RCSA.

  • Maximum Available Commitment means, subject to the proviso contained in the third sentence of Section 2.02(a), at any time of determination, (a) the Maximum Commitment at such time less (b) the aggregate amount of each Interest Advance outstanding at such time; provided that following a Provider Advance or a Final Advance, the Maximum Available Commitment shall be zero.

  • Maximum Advance Rate means 80.0%.

  • Maximum Amount means the Maximum Amount as specified in § 1 of the Product and Underlying Data.

  • Maximum Credit means, at any time, the lesser of (i) the Revolving Credit Commitments in effect at such time and (ii) the Borrowing Base at such time.

  • Maximum Loan Amount has the meaning set forth in Section 2.1(a).

  • Maximum Face Amount means, with respect to any outstanding Letter of Credit, the face amount of such Letter of Credit including all automatic increases provided for in such Letter of Credit, whether or not any such automatic increase has become effective.

  • Maximum Available Amount means, on any date of determination, an amount equal to the lesser of:

  • Aggregate Maximum Credit Amounts at any time shall equal the sum of the Maximum Credit Amounts, as the same may be reduced or terminated pursuant to Section 2.06.

  • Maximum Loan Rate With respect to each Mortgage Loan, the percentage set forth in the related Mortgage Note as the maximum Loan Rate thereunder.

  • Maximum Revolver Amount means $100,000,000, decreased by the amount of reductions in the Revolver Commitments made in accordance with Section 2.4(c) of the Agreement.

  • Maximum Limit means that number of issued Shares representing 10% of the total number of issued Shares as at the date of the passing of this Resolution (excluding any Shares which are held as treasury shares as at that date); and

  • Maximum mass means the maximum mass stated by the vehicle manufacturer to be technically permissible (this mass may be higher than the "permissible maximum mass" laid down by the national administration).

  • Maximum Revolving Advance Amount means $25,000,000.

  • Maximum Revolving Credit Amount means, at any particular time, the Revolving Credit Commitments at such time.

  • Maximum Lawful Rate has the meaning set forth in Section 2.7.

  • Maximum allowable cost means the maximum amount that a pharmacy benefit manager will reimburse a pharmacy for the cost of a drug.

  • Maximum Revolving Amount At any date as of which same is to be determined, the amount by which (x) $3,500,000 exceeds (y) the sum of (i) all then undrawn amounts of letters of credit issued by the Bank for the account of the Borrower plus (ii) all amounts then drawn on any such letter of credit which at said date shall not have been reimbursed to the Bank by the Borrower.

  • Maximum Drawing Amount means at the time in question the sum of the maximum amounts which LC Issuer might then or thereafter be called upon to advance under all Letters of Credit which are then outstanding.

  • Maximum Undrawn Amount means with respect to any outstanding Letter of Credit, the amount of such Letter of Credit that is or may become available to be drawn, including all automatic increases provided for in such Letter of Credit, whether or not any such automatic increase has become effective.

  • Maximum Swingline Amount means $5,000,000.

  • Maximum Revolving Loan Amount means, as of any date of determination, the lesser of (a) the Revolving Loan Commitment(s) of all Lenders minus the Letter of Credit Reserve and (b) the Borrowing Base minus the Letter of Credit Reserve.