National Tobacco Grower Settlement Trust definition

National Tobacco Grower Settlement Trust means the trust established by tobacco companies to provide payments to tobacco growers and tobacco quota owners in 14 states for the purposes of ameliorating potential adverse economic consequences of likely reduction in demand, sales, and prices for tobacco as an agricultural product as a result of the Master Settlement Agreement incorporated in the consent decree entered in the action of State of North Carolina vs. Philip Morris, Incorporated, et al., 98 CVS 14377, in the General Court of Justice, Superior Court Division, Wake County, North Carolina.
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National Tobacco Grower Settlement Trust means the trust
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National Tobacco Grower Settlement Trust means the trust established by
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Examples of National Tobacco Grower Settlement Trust in a sentence

  • For taxable years beginning on and after January 1, 1999, income received as a result of (i) the "Master Settlement Agreement," as defined in § 3.2-3100; and (ii) the National Tobacco Grower Settlement Trust dated July 19, 1999, by (a) tobacco farming businesses; (b) any business holding a tobacco marketing quota, or tobacco farm acreage allotment, under the Agricultural Adjustment Act of 1938; or (c) any business having the right to grow tobacco pursuant to such a quota allotment.

  • For taxable years beginning on and after January 1, 1999, income received as a result of (i) the "Master Settlement Agreement," as defined in § 3.2-3100; and (ii) the National Tobacco Grower Settlement Trust dated July 19, 1999, by (a) tobacco farming businesses; (b) any business holding a tobacco marketing quota, or tobacco farm acreage allotment, under the Agricultural Adjustment Act of 1938; or (c) any business having the right to grow tobacco pursuant to such a quota allotment.19, 20.

  • Documentation of any compensation received from the National Tobacco Grower Settlement Trust, or any other source to cover actual losses due to the Master Settlement Agreement, or a verified statement that no compensation was received from the National Tobacco Growers' Settlement Trust or from any other source to compensate losses caused by the Master Settlement Agreement.

  • Requirements of the Phase II Agreement The Phase II agreement requires the four major tobacco companies to make quarterly payments to the National Tobacco Grower Settlement Trust (Phase II trust).

  • The settlement, combined with expenses from the four previous State settlements, will have an ongoing infla- tionary effect on the price of cigarettes.The National Tobacco Grower Settlement Trust In addition to the Master Settlement Agreement (sometimes known as phase I), cigarette manufacturers agreed to pay $5.15 billion to tobacco growers over a period of 12 years (phase II).

  • Source: Audit reports on the 1999, 2000, and 2001financial statements of the National Tobacco Grower Settlement Trust, PricewaterhouseCoopers.

  • In addition and of their own accord, manufacturers committed a further $5.15 billion for distribution over 12 years to tobacco farmers under the National Tobacco Grower Settlement Trust Agreement (also known as the Phase II settlement).

  • Source: Audit reports on the 1999, 2000, and 2001 financial statements of the National Tobacco Grower Settlement Trust, PricewaterhouseCoopers.States Allocated Phase II Funds According to Their Annual Plans As required by the Phase II agreement, each of the 14 states developed plans for allocating its share of the funds.

  • Table 1 shows the estimated contributions to the trust by the tobacco companies for each year of the agreement.Table 1: Total Estimated Annual Tobacco Company Contributions to the National Tobacco Grower Settlement Trust YearAmount1999$380,000,0002000280,000,0002001400,000,0002002-08500,000,0002009-10295,000,000Total$5,150,000,000 Source: National Tobacco Grower Settlement Trust agreement.

  • TOBACCO GROWER ASSISTANCE.—The Sec- retary shall provide $328,000,000 to be distrib- uted to tobacco growers according to the for- mulas established pursuant to the National Tobacco Grower Settlement Trust.

Related to National Tobacco Grower Settlement Trust

  • Ontario Settlement Class means the settlement class in respect of the Ontario Action as defined in Schedule A.

  • Local Distribution Company or “LDC” means a Person licensed by the OEB as a “Distributor” in connection with a Distribution System.

  • Energy Settlement Area means the bus or distribution of busses that represents the physical location of Network Load and by which the obligations of the Network Customer to PJM are settled. Energy Storage Resource:

  • Purchase Contract Settlement Fund has the meaning specified in Section 5.5.

  • Statewide popular election means a general election in which

  • Virginia real estate investment trust means a real estate investment trust, as defined in 26 U.S.C.

  • Structured settlement annuity means an annuity purchased in order to fund periodic payments for a plaintiff or other claimant in payment for or with respect to personal injury suffered by the plaintiff or other claimant.

  • Purchase Contract Settlement Date means ________________________, ____.]

  • Plug-in Hybrid Electric Vehicle (PHEV) means a vehicle that is similar to a Hybrid but is equipped with a larger, more advanced battery that allows the vehicle to be plugged in and recharged in addition to refueling with gasoline. This larger battery allows the car to be driven on a combination of electric and gasoline fuels.

  • Non-Administrator Ambulatory Surgical Facility means an Ambulatory Surgical Facility which does not meet the definition of an Administrator Ambulatory Surgical Facility.

  • Day-ahead Settlement Interval means the interval used by settlements, which shall be every one clock hour. Day-ahead System Energy Price:

  • Retail Settlement Code or “Code” means this code approved by the Board and in effect at the relevant time, which, among other things, establishes a distributor’s obligations and responsibilities associated with financial settlement among retailers and consumers and provides for tracking and facilitating consumer transfers among competitive retailers.

  • Rechargeable Electrical Energy Storage System (REESS) means the rechargeable energy storage system that provides electric energy for electrical propulsion.

  • Real Estate Investment Trust means that term as defined under section 856 of the internal revenue code.

  • First Settlement Date means the date set forth in footnote 3 under "Summary of Essential Financial Information" in the Prospectus Part I for a Trust.

  • Viatical settlement provider means a person, other than a viator, who enters into or effectuates a viatical settlement contract. Viatical settlement provider does not include:

  • Administrator/Benchmark Event Date means, in respect of an Administrator/Benchmark Event, the date on which the authorisation, registration, recognition, endorsement, equivalence decision, approval or inclusion in any official register is (i) required under any applicable law or regulation; or(ii) rejected, refused, suspended or withdrawn, if the applicable law or regulation provides that the Relevant Benchmark is not permitted to be used under the Securities following rejection, refusal, suspension or withdrawal, or, in each case, if such date occurs before the Issue Date, the Issue Date.

  • Hybrid electric vehicle (HEV) means a hybrid vehicle where one of the propulsion energy converters is an electric machine.

  • Administrator/Benchmark Event Date means, in respect of an Administrator/Benchmark Event, the date on which the authorisation, registration, recognition, endorsement, equivalence decision, approval or inclusion in any official register is (i) required under any applicable law or regulation; or

  • Asset Management Company/UTI AMC/AMC/Investment Manager means the UTI Asset Management Company Limited incorporated under the Companies Act, 1956, (1 of 1956) [replaced by The Companies Act, 2013 (No.18 of 2013)] and approved as such by Securities and Exchange Board of India (SEBI) under sub-regulation (2) of Regulation 21 to act as the Investment Manager to the schemes of UTI Mutual Fund.

  • Structured settlement agreement means the agreement, judgment, stipulation, or release embodying the terms of a structured settlement.

  • Structured settlement means an arrangement for periodic payment of damages for personal injuries established by settlement or judgment in resolution of a tort claim or for periodic payments in settlement of a workers’ compensation claim.

  • Qualified Settlement Fund or “Settlement Fund” means the interest-bearing, settlement fund account to be established and maintained by the Escrow Agent in accordance with Article 5 herein and referred to as the Qualified Settlement Fund (within the meaning of Treas. Reg. § 1.468B-1).

  • Younger-generation substitute gift means the substitute gift created with respect to the younger-generation future interest.

  • Structured settlement obligor means, with respect to any structured settlement, the party that has the continuing obligation to make periodic payments to the payee under a structured settlement agreement or a qualified assignment agreement.

  • Pure electric vehicle (PEV) means a vehicle equipped with a powertrain containing exclusively electric machines as propulsion energy converters and exclusively rechargeable electric energy storage systems as propulsion energy storage systems.