Minimum Funding Obligation definition

Minimum Funding Obligation means (a) $158,500,000, plus (b) any Additional PDC Contribution, minus (c) the Special PDC Withdrawal; provided, that in no event shall the total exceed $102,000,000 without Investor’s consent. For the avoidance of doubt, the definition of “Minimum Funding Obligations” excludes any amount that Investor contributes pursuant to Section 4.3(f).
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Minimum Funding Obligation has the meaning set forth in Section 3.3.1.
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Minimum Funding Obligation means the amount of any quarterly or annual contribution to a Plan that is required under Section 412 of the Code.
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Examples of Minimum Funding Obligation in a sentence

  • The Minimum Funding Obligation shall be contributed by the end of the quarter following the recognition of such costs.

  • The Minimum Funding Obligation will be equal to the amount of Pension and PBOP costs collected from customers during the fiscal year, plus the amounts of Pension and PBOP costs capitalized during the year.

  • For the purpose of determining its Minimum Funding Obligation and the carrying costs that apply to that obligation, the Company shall be permitted to combine the funding of pensions and PBOPs, thereby offsetting, any deficiencies in PBOPs funding with any excess pension funding, or conversely offsetting any deficiencies in pension funding with any excess PBOP funding.

  • The Settling Parties further agree that the Company shall enhance the customer protections applicable to the existing PAM by contributing to the pension and OPEB plans at the Minimum Funding Obligation level, which is the amount of pension and OPEB costs collected from customers through base rates and the PAM, plus capitalized amounts of pension/OPEB cost.

  • The Minimum Funding Obligation is the Company’s obligation to contribute amounts recovered from customers to the pension and PBOP plans as it is being recovered.

  • The Minimum Funding Obligation level is equal to the amount billed to customers plus the amounts of capitalized pension and PBOP costs.

  • The PAF will be computed on an annual basis for the twelve months ended March 31 and will be based on the difference in the Company’s actual pension and OPEB expense for the prior twelve month period ended March 31 and the distribution base rate allowance, plus carrying charges at the weighted average cost of capital on the cumulative five quarter average underfunding of the pension and OPEB Minimum Funding Obligation for the fiscal year ended March 31.

  • The Minimum Funding Obligation will be equal to the amount of pension and OPEB costs collected from customers during the fiscal year, plus the amounts of pension and OPEB costs capitalized during the year.

  • The PAF will be computed on an annual basis for the twelve months ended March 31 and will be based on the difference in the Company’s actual Pension and PBOP expense for the prior twelve month period ended March 31 and the distribution base rate allowance, plus carrying charges at the weighted average cost of capital on the cumulative five quarter average underfunding of the Pension and PBOP Minimum Funding Obligation for the fiscal year ended March 31.

  • Investor currently has sufficient immediately available funds in cash to pay its Initial Capital Contribution and will have immediately available funds in cash to pay any other amounts payable under this Agreement when due, including the balance of the Minimum Funding Obligation, all without any third-party consent or approval required.


More Definitions of Minimum Funding Obligation

Minimum Funding Obligation means the lesser of (1) $15 million or (2) 1.3 times the then Value of Total Accrued Benefits. In addition to the other requirements of the Recordkeeper set forth in this Section, the Recordkeeper shall provide the Trustee with the Value of the Total Accrued Benefits as promptly as reasonably practicable following the end of each calendar quarter."
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Related to Minimum Funding Obligation

  • Pre-Funding Amount With respect to any date, the amount on deposit in the Pre-Funding Account.

  • Pre-Funding Account means the account designated as the Pre-Funding Account in, and which is established and maintained pursuant to Section 7.07.

  • Excess Funding Amount means the amount on deposit in the Excess Funding Account.

  • Excess Funding Account shall have the meaning specified in Section 4.02.

  • Pre-Funded Amount With respect to any date of determination, the amount on deposit in the Pre-Funding Account.

  • Interest Funding Account means the trust account designated as such and established pursuant to Section 5.01(a).

  • Minimum Disbursement Amount means Twenty-Five Thousand and No/100 Dollars ($25,000).

  • Contract Minimum Investment Requirement means, with respect to the Project, investment by the Company and any Sponsor Affiliates of at least $4,000,000 in Economic Development Property subject (non-exempt) to ad valorem taxation (in the absence of this Fee Agreement).

  • Pre-Funding Period means the period beginning on the Closing Date and ------------------ ending on the earliest of (a) the date on which the amount on deposit in the Pre-Funding Account is less than $10,000, (b) the Funding Termination Date or (c) the date on which an Event of Termination occurs.

  • Aggregate Excess Funding Amount has the meaning specified in Section 2.2(c)(iv).

  • Principal Funding Account Balance means, with respect to any date of determination during the Controlled Accumulation Period, the principal amount, if any, on deposit in the Principal Funding Account on such date of determination.

  • FILOT Act Minimum Investment Requirement means, with respect to the Project, an investment of at least $2,500,000 by the Company, or of at least $5,000,000 by the Company and any Sponsor Affiliates in the aggregate, in Economic Development Property.

  • Reserve Account Funding Date means the Distribution Date which occurs not later than the earliest of (a) the Distribution Date with respect to the Monthly Period that commences not later than three months prior to the Distribution Date with respect to the first Monthly Period in the Controlled Accumulation Period, (b) in the event that the average Excess Spread Percentage for any three consecutive Monthly Periods ending in the September 2003 Monthly Period or any Monthly Period thereafter is less than 2%, the Distribution Date with respect to such Monthly Period, (c) in the event that the average Excess Spread Percentage for any three consecutive Monthly Periods ending in the March 2004 Monthly Period or any Monthly Period thereafter is less than 3%, the Distribution Date with respect to such Monthly Period and (d) such earlier Distribution Date as the Transferors may determine by written notice to the Trustee and the Servicer. For this purpose, the "Excess Spread Percentage" for any Monthly Period shall be equal to the Series Adjusted Portfolio Yield for such Monthly Period minus the Base Rate for such Monthly Period.

  • Master Funding Agreement means the Master Funding Agreement entered into by the Company and the Secretary of State on 31st October 2013;

  • Principal Funding Account shall have the meaning specified in subsection 4.03(a)(i).

  • Minimum Equity Amount shall have the meaning provided in the recitals to this Agreement.

  • Initial Funding Date means the date on or after the Closing Date, on which all of the conditions described in Section 6.1 have been satisfied (or waived) in a manner satisfactory to the Administrative Agent and the Lenders and on which the initial Loans under this Agreement are made by the Lenders to the Borrower.

  • Principal Funding Investment Shortfall means, with respect to each Transfer Date relating to the Controlled Accumulation Period, the amount, if any, by which the Principal Funding Investment Proceeds for such Transfer Date are less than the Covered Amount determined as of such Transfer Date.

  • Minimum Investment means an investment in the project of at least two and one‑half million dollars within the investment period. If a county has an average annual unemployment rate of at least twice the state average during the last twenty‑four month period based on data available on the most recent November first, the minimum investment is one million dollars. The department shall designate these reduced investment counties by December thirty‑first of each year using data from the South Carolina Department of Employment and Workforce and the United States Department of Commerce. The designations are effective for a sponsor whose fee agreement is signed in the calendar year following the county designation. For all purposes of this chapter, the minimum investment may include amounts expended by a sponsor or sponsor affiliate as a nonresponsible party in a voluntary cleanup contract on the property pursuant to Article 7, Chapter 56, Title 44, the Brownfields Voluntary Cleanup Program, if the Department of Health and Environmental Control certifies completion of the cleanup. If the amounts under the Brownfields Voluntary Cleanup Program equal at least one million dollars, the investment threshold requirement of this chapter is deemed to have been met.

  • Project Funding Agreement means an agreement in the form of Schedule F that incorporates the terms of this Agreement and enables the LHIN to provide one-time or short term funding for a specific project or service that is not already described in Schedule A;

  • Cash Contribution Amount means the aggregate amount of cash contributions made to the capital of the Company described in the definition of “Contribution Indebtedness.”

  • Minimum Tranche Amount has the meaning specified in Section 2.15(b).

  • Residual Funding Facility means any funding arrangement with a financial institution or institutions or other lenders or purchasers under which advances are made to the Company or any Subsidiary based upon residual, subordinated or retained interests in Receivables Entities or any of their respective securities, debt instruments or other Indebtedness.

  • Funded Amount means, with respect to any Revolving Obligation (excluding a Synthetic Security) or Delayed Drawdown Collateral Obligation at any time, the aggregate principal amount of advances or other extensions of credit to the extent funded thereunder by the Issuer that are outstanding at such time.