Pay Continuation definition

Pay Continuation means the component of the severance benefit described in Section 3(a)(i):
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Examples of Pay Continuation in a sentence

  • Payments of such substantially equal installments over Participant's Benefit Pay Continuation Period shall be payable in advance at the same frequency as base salary payments to Participant immediately prior to the Qualifying Event.

  • Except as otherwise provided by an applicable pension plan and, subject to the requirements for qualification of Section 401(a) of the Code, only the first twelve (12) months of the Severance Period, Pay Continuation and Prorated Annual Incentive Compensation will be recognized for purposes of the vesting and pension calculation provisions of the AlliedSignal Inc.

  • Except as provided in Section 25, any Pay Continuation shall be paid in substantially equal periodic installments corresponding to the Participant’s normal payroll period commencing after the Participant’s Last Day of Active Employment.

  • Workers Compensation and Pay Continuation – amend to include the use of compensatory time while under Family Medical Leave and Workers Compensation.

  • Each System Company's contribution shall be in an amount equal to the total amount of additional benefits payable to such System Company's Plan Participants in accordance with the provisions of Section 4.02 of the Plan for the duration of the applicable Benefit Pay Continuation Period.

  • The total cash benefit amount computed above shall be divided into substantially equal installments and paid to the Participant over a twenty-four (24) consecutive month period, commencing on the Date of Termination, which twenty-four (24) consecutive month period shall be the Benefit Pay Continuation Period for System Management Level 3 Participants.

  • If the Company terminates Executive's employment with Cause, Executive shall not be eligible to receive the Severance Pay, Continuation Coverage or Accelerated Vesting.

  • The total cash benefit amount computed above shall be divided into substantially equal installments and paid to Participant over a thirty-six (36) consecutive month period, commencing on the Date of Termination, which thirty-six (36) consecutive month period shall be the Benefit Pay Continuation Period for System Management Level 1 and 2 Participants.

  • The total cash benefit amount computed above shall be divided into substantially equal installments and paid to Participant over a twelve (12) consecutive month period, commencing on the Date of Termination, which twelve (12) consecutive month period shall be the Benefit Pay Continuation Period for System Management Level 4 Participants.

  • Except as provided in Section 24, any Pay Continuation shall be paid in substantially equal periodic installments corresponding to the Participant’s normal payroll period commencing after the Participant’s Last Day of Active Employment.

Related to Pay Continuation

  • Conversion/Continuation Date means the effective date of a continuation or conversion, as the case may be, as set forth in the applicable Conversion/Continuation Notice.

  • Notice of Continuation means a notice substantially in the form of Exhibit D (or such other form reasonably acceptable to the Administrative Agent and containing the information required in such Exhibit) to be delivered to the Administrative Agent pursuant to Section 2.8. evidencing the Borrower’s request for the Continuation of a LIBOR Loan.

  • Continuation Date means any date on which Borrower continues a LIBOR Advance into another Interest Period.

  • Benefits Continuation Period has the meaning set forth in Section 6.01(b).

  • Benefit Continuation Period means the period beginning on the Date of Termination and ending on the last day of the month in which occurs the earlier of (i) the 24-month anniversary of the Date of Termination and (ii) the date on which you elect coverage for you and your covered dependents under substantially comparable benefit plans of a subsequent employer.

  • Conversion/Continuation Notice is defined in Section 2.9.

  • Notice of Continuation/Conversion has the meaning specified in Section 2.2(b).

  • Continuation Coverage means the temporary continuation of PEBB benefits available to enrollees under the Consolidated Omnibus Budget Reconciliation Act (COBRA), 42 U.S.C. Secs. 300bb-1 through 300bb-8, the Uniformed Services Employment and Reemployment Rights Act (USERRA), 38 U.S.C. Secs. 4301 through 4335, or the public employees benefits board's policies.

  • Notice of Conversion/Continuation shall have the meaning provided in Section 2.06.

  • Continuation/Conversion Date means the date on which a Loan is converted into or continued as a LIBOR Rate Loan.

  • Continuation and “Continued” each refers to the continuation of a LIBOR Loan from one Interest Period to another Interest Period pursuant to Section 2.9.

  • Continuation Notice as defined in Section 2.17(a).

  • Notice of Continuation or Conversion has the meaning provided in Section 2.10(b).

  • Continuation Period shall have the meaning set forth in Section 6.9(a).

  • Payment Date Advance Reimbursement has the meaning set forth in Section 8.03(a)(iii)(A) of the 20[•]-[•] Servicing Supplement.

  • Discontinuation Event means (i) when the Commission notifies the Company whether there will be a “review” of such Registration Statement and whenever the Commission comments in writing on such Registration Statement (the Company shall provide true and complete copies thereof and all written responses thereto to each of the Holders); (ii) any request by the Commission or any other Federal or state governmental authority for amendments or supplements to such Registration Statement or Prospectus or for additional information; (iii) the issuance by the Commission of any stop order suspending the effectiveness of such Registration Statement covering any or all of the Registrable Securities or the initiation of any Proceedings for that purpose; (iv) the receipt by the Company of any notification with respect to the suspension of the qualification or exemption from qualification of any of the Registrable Securities for sale in any jurisdiction, or the initiation or threatening of any Proceeding for such purpose; and/or (v) the occurrence of any event or passage of time that makes the financial statements included in such Registration Statement ineligible for inclusion therein or any statement made in such Registration Statement or Prospectus or any document incorporated or deemed to be incorporated therein by reference untrue in any material respect or that requires any revisions to such Registration Statement, Prospectus or other documents so that, in the case of such Registration Statement or Prospectus, as the case may be, it will not contain any untrue statement of a material fact or omit to state any material fact required to be stated therein or necessary to make the statements therein, in light of the circumstances under which they were made, not misleading.

  • Continuation/Conversion Notice means a notice of continuation or conversion and certificate duly executed by an Authorized Officer of the Borrower, substantially in the form of Exhibit C hereto.

  • COBRA continuation provision means any of the following:

  • Notice of Conversion or Continuation shall have the meaning provided in Section 2.6(a).

  • Swingline Termination Date means the date which is 7 Business Days prior to the Termination Date.

  • Termination Benefit means the benefit set forth in Article 7.

  • Compensation Accrued at Termination means the following:

  • Term Loan Termination Date means the earlier to occur of (a) the Term Loan Maturity Date and (b) the acceleration of the Term Loans in accordance with the terms hereof.

  • Revolving Loan Termination Date means the earlier of (a) the fifth anniversary of the Funding Date and (b) the date of termination in whole of the Aggregate Revolving Loan Commitment pursuant to Section 2.05(a) or Section 9.01 hereof.

  • Termination Date Disbursement means an amount drawn under a Multi-Series Letter of Credit pursuant to a Certificate of Termination Date Demand.

  • Loan Termination Date means the earliest to occur of the following: (a) November , 2009, (b) the date the Obligations are accelerated pursuant to this Agreement or the Revolving Note and (c) the date the Bank has received (i) notice in writing from the Borrower of the Borrower’s election to terminate this Agreement or the Revolving Note or (ii) indefeasible payment in full of the Obligations.