Normal Payment Date definition

Normal Payment Date means (i) with respect to a Participant’s Grandfathered Benefit, the first day of the month on which benefits commence to be paid to the Participant under the Retirement Plan; and (ii) with respect to a Participant’s 409A Benefit, the following: (A) for a Participant who incurs a Separation from Service with a Vested Plan Benefit prior to attaining age 55, the first day of the month coincident with or next following the month in which he attains age 55; and (B) for a Participant who incurs a Separation from Service with a Vested Plan Benefit on or after attaining age 55, the first day of the month following his Separation from Service.
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Normal Payment Date means the tenth day of the next month following the date of the later of (i) a Participant’s Separation from Service or (ii) a Participant attaining age 55.
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Normal Payment Date the regularly scheduled business day of the week or month on which Buyer makes payments pursuant to this article. Unless otherwise stated on the face of the order or Purchase Agreement, Buyer shall be entitled, either directly or through an affiliated third party, to take an early payment reduction of 0.0333% of the gross invoice price for each day that actual payment precedes the Normal Payment Date. By way of examples, an early payment reduction of 2.5% would correspond to a payment made 75 days earlier than the Normal Payment Date and an early payment reduction 0.333% would correspond to a payment made ten (10) days earlier than the Normal Payment Date.
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Examples of Normal Payment Date in a sentence

  • Unless otherwise set forth on the face of this Order, Buyer shall be entitled, either directly or through an Affiliate (defined below) of Buyer to take an early payment reduction of 0.0333% of the gross invoice price for each day before the Normal Payment Date that payment is initiated.

  • Where a school chooses to seek such an additional audit it does not remove the requirement that the school must also co-operate with LA’s internal and external auditors.

  • Notwithstanding the foregoing, if applicable law requires Buyer to pay Seller on or before a date that is earlier than the Normal Payment Date (the “Mandatory Payment Date”), then Buyer will pay Seller on or before the Mandatory Payment Date but will be entitled, unless applicable law provides otherwise, to take an early payment reduction of 0.0333% of the gross invoice price for each day before the Normal Payment Date that it initiates payment.

  • The Participant must be employed with the Bank on the Normal Payment Date to receive the benefit described in Section 3.1.1, and for the avoidance of doubt, all benefits under the Agreement are forfeitable until the Normal Payment Date unless otherwise provided herein.

  • If the Payment Form for a Participant’s Grandfathered Benefit is other than the Lump-Sum Option or the DCP Option, the payment of the Participant’s Grandfathered Benefit shall commence on the Participant’s applicable Normal Payment Date, unless the Participant has specified an Elected Payment Date.

  • A Participant shall make his Payment Election for his Grandfathered Benefit prior to the date of, or in connection with, the Participant’s Separation from Service, and if no Payment Election is made prior to the date of, or in connection with, the Participant’s Separation from Service, the Participant’s Grandfathered Benefit shall be payable in the Default Payment Form on the applicable Normal Payment Date.

  • In the event such an Eligible Employee previously Separated from Service with the Company, payment of his 409A Benefit accrued prior to such Separation from Service shall not be suspended or otherwise delayed and any additional 409A Benefit accrued by such an Eligible Employee shall be paid on the Normal Payment Date and in the Default Payment Form.

  • If the payment of a Lump-Sum Option is delayed beyond the Normal Payment Date in accordance with the previous sentence, a Participant’s 409A Benefit shall be credited with interest on a quarterly basis based upon the interest rate being used to determine Lump-Sum Option payments under the Retirement Plan for each quarter of such delay.

  • An Eligible Employee who first becomes a Participant and accrues a Benefit under the Plan prior to January 1, 2009 shall receive or commence receiving payment of his or her Benefit on the Participant’s applicable Normal Payment Date, unless the Participant specifies an Elected Payment Date in accordance with Section 2.04(a).

  • Payments are initiated within the 5 business days preceding the weekly Normal Payment Date.


More Definitions of Normal Payment Date

Normal Payment Date means (A) for a Participant who incurs a Separation from Service with a Vested Plan Benefit prior to attaining age 55, the first day of the month coincident with or next following the month in which he attains age 55; and (B) for a Participant who incurs a Separation from Service with a Vested Plan Benefit on or after attaining age 55, the first day of the month following his Separation from Service.
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Normal Payment Date means (i) with respect to a Participant’s Grandfathered Benefit, the following: (A) if the Payment Form is other than the Lump-Sum Option or the DCP Option, the first day of the first period for which an amount is payable to the Participant under the Retirement Plan; and (B) if the payment form is the Lump-Sum Option, the Payment Date specified in Section 5.2(c); and (ii) with respect to a Participant's 409A Benefit, the following: (A) for a Participant who incurs a Separation from Service with a Vested Plan Benefit prior to attaining age 55, the first day of the month coincident with or next following the month in which he attains age 55; and (B) for a Participant who incurs a Separation from Service with a Vested Plan Benefit on or after attaining age 55, the first day of the month following his Separation from Service.
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Related to Normal Payment Date

  • Final Payment Date means the "Final Payment Date" as specified in § 1 of the Product and Underlying Data.

  • Initial Payment Date has the meaning specified in Section 3 of this Supplement.

  • Principal Payment Date means, if applicable, each date designated as such in the Series Term Sheet.

  • Expected Final Payment Date means the March 2023 Distribution Date.

  • Next Payment Date means each date on which the next scheduled payment under any Transaction is due to be paid.

  • Scheduled Final Payment Date means, with respect to each Tranche of Securitization Bonds, the date when all interest and principal is scheduled to be paid with respect to that Tranche in accordance with the Expected Amortization Schedule, as specified in the Series Supplement. For the avoidance of doubt, the Scheduled Final Payment Date with respect to any Tranche shall be the last Scheduled Payment Date set forth in the Expected Amortization Schedule relating to such Tranche. The “last Scheduled Final Payment Date” means the Scheduled Final Payment Date of the latest maturing Tranche of Securitization Bonds.

  • Installment Payment Date means the date on which an installment payment of an assessment is payable.

  • Change of Control Payment Date has the meaning provided in Section 4.15.

  • Special Payment Date means each Distribution Date with respect to the Early Amortization Period.

  • Rent Payment Date means each date on which an installment of rent is due and payable pursuant to Section 5(a) hereof.

  • Principal Payment Dates means, unless otherwise determined by the Fiscal Officer and specified in the Certificate of Award, December 1 in each of the years from and including 2021 to and including 2022.

  • Basic Rent Payment Date means Basic Rent Payment Date as defined in Paragraph 6.

  • Coupon Payment Date means each day specified to be an Coupon Payment Date in the Product Terms.

  • Amortization Payment Date shall have the meaning set forth in Section 2(d).

  • Legal Final Payment Date means the one-year anniversary of the Expected Final Payment Date.

  • Termination Payment Date means the date on which the RECIPIENT is required to repay to ECOLOGY any outstanding balance of the loan and all accrued interest.

  • Note Payment Date means any date on which principal of or interest on any Note is payable.

  • Scheduled Payment Date means a date on which a payment or delivery is to be made under Section 2(a)(i) with respect to a Transaction.

  • Price Differential Payment Date means, with respect to a Purchased Mortgage Loan, the 5th day of the month following the related Purchase Date and each succeeding 5th day of the month thereafter; provided, that, with respect to such Purchased Mortgage Loan, the final Price Differential Payment Date shall be the related Repurchase Date; and provided, further, that if any such day is not a Business Day, the Price Differential Payment Date shall be the next succeeding Business Day.

  • Tax Payment Date means, with respect to any applicable Taxes, the date occurring 30 days prior to the date the same are due and payable.

  • Premium Payment Date in respect of any Option, means the date on which the Premium is due and payable, as agreed to at the time the Option is entered into, as evidenced in a Confirmation.

  • Final Repayment Date means the date falling on the earlier of (i) the date falling on the sixth anniversary of the Drawdown Date and (ii) 30 November 2023.

  • Class A-4 Final Scheduled Payment Date means the Payment Date in February 2024.

  • Expected Principal Payment Date means March 15, 2022.

  • Class A-1 Final Scheduled Payment Date means the Payment Date occurring in May 2023.

  • Deferred Payment Date for a Participant means the date after the Restricted Period in respect of Restricted Share Units which is the earlier of (i) the date which the Participant has elected to defer receipt of the underlying Shares in accordance with Section 4.5 of this Plan; and (ii) the Participant's Separation Date.