Pay Credit definition

Pay Credit means the credit made to an Active Member’s PIRP-DC Account pursuant to Section 4.01(a).
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Pay Credit means a credit that is added to a Participant’s Make-Whole Account pursuant to Section 4.2.
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Pay Credit means all time credited for pay purposes as provided in this Agreement.
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Examples of Pay Credit in a sentence

  • The Corporation has issued tax- exempt and/or taxable bonds which either (i) are secured by mortgage loan payments, which payments are secured by obligations of Fannie Mae under various collateral agreements, (ii) are secured by a Direct Pay Credit Enhancement Instrument issued by Fannie Mae or (iii) are secured by a Direct Pay Credit Enhancement Agreement with Federal Home Loan Mortgage Corporation (“Freddie Mac”).

  • Please see the separate credit card policies for the College of Law and DeLand campuses as well as specific guidelines for Direct Pay Credit Card Procedures and Employee Reimbursement Policy NOTE: The University purchasing card system is in a transitional process with the eventual goal to operate with a single credit card solution.

  • The amount of an Active Member’s Pay Credit for a Plan Year shall be determined by multiplying the Active Member’s annualized Salary in effect as of that year’s Valuation Date by the Active Member’s applicable percentage, which shall be one of the following: 5%, 8%, 10%, 12% or 18%.

  • A period of paid leave of absence during a Plan Year shall be considered a period of Active Membership for purposes of determining a Member’s Pay Credit for the Plan Year in accordance with the prior sentence.

  • See “Paying Your Taxes,” for information on Web Pay, Credit Card, and Request Monthly Installments.

  • In the event a prorated Pay Credit and Interest Credit relate to the Member’s final year of Membership, the Pay Credit and Interest Credit shall be determined as of the Member’s Distribution Valuation Date (with proration based upon the Member’s fractional final year of Membership).

  • If a Member has less than one full year of Active Membership since such last Valuation Date (e.g., as may apply in the Member’s first and last year of Membership), the Member’s Pay Credit as otherwise determined under subsection (a) above shall be prorated for such period based upon the Member’s fractional year of Active Membership.

  • However, a period of unpaid leave of absence during a Plan Year shall not be considered a period of Active Membership for purposes of determining a Member’s Pay Credit for the Plan Year in accordance with the prior sentence (and as a result, the Pay Credit for the Plan Year containing the unpaid leave shall be prorated, or there shall be no Pay Credit, all as necessary to limit Pay Credits to the Member’s period of Active Membership during the Plan Year).

  • A Member’s Pay Credit and Interest Credit shall be determined by the Vice President as soon as administratively practicable after each Valuation Date.

  • To receive a Pay Credit for a Plan Year, an individual must be an Active Member during such year.


More Definitions of Pay Credit

Pay Credit means the monthly credit to a Member’s Account based on a percentage of the Member’s monthly Compensation.
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Pay Credit means the amount credited to the Participant’s Account for a Plan Year under Section 3.9(b).
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Pay Credit means the of unused sick leave on any given date.
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Related to Pay Credit

  • pension credit ; means the means-tested Guarantee or Savings Credit administered by the Department for Work and Pensions under the State Pension Credit Regulations 2002;

  • 9% Credits means Federal Credit allocated on a competitive basis under the provisions of this Plan.

  • 4% Credits means Federal Credit available to Bond Financed Projects which meet the requirements of this Plan.

  • Primary Credit Facility mean the credit facility described in the Line of Credit section of this Agreement.

  • Credit Account is modified to read “Grant Account”.

  • state pension credit means state pension credit under the State Pension Credit Act 2002;

  • Company Credit Facility means the Credit Agreement, dated as of March 24, 2016, as amended and restated as of December 14, 2017, as further amended and restated as of May 7, 2019, as further amended and restated as of September 11, 2019, and as further amended as of November 14, 2019, by and among Centene, the various financial institutions named therein, as lenders, and Wells Fargo Bank, National Association, as administrative agent, including any related notes, Guarantees, collateral documents, instruments and agreements executed in connection therewith, and in each case as amended, restated, modified, renewed, refunded, replaced or refinanced (in whole or in part) from time to time, whether or not with the same lenders or agent.

  • Availability Credit means the remedy IBM will provide for a validated Claim. The Availability Credit will be applied in the form of a credit or discount against a future invoice of subscription charges for the Service.

  • Letter of Credit Account means the account established by the Borrower under the sole and exclusive control of the Administrative Agent maintained at the office of the Administrative Agent at 200 Xxxx Xxxxxx, Xxx Xxxx, Xxx Xxxx 00000 designated as the “Delphi Letter of Credit Account” that shall be used solely for the purposes set forth herein.

  • Deferred Account means the participant's Deferred Pension Account, Deferred Dividends Account, Deferred Retainer Account, Deferred Fees Account, Deferred Cash Account and/or Deferred Stock Account.

  • Credit life insurance means insurance on the life of a debtor in connection with

  • Employer Credits means the amounts credited to the Participant’s Deferred Compensation Account by the Employer pursuant to the provisions of Section 4.2.

  • Credit Enhancement Percentage For any Distribution Date, the percentage equivalent of a fraction, the numerator of which is the sum of the aggregate Certificate Principal Balances of the Mezzanine Certificates and the Class CE Certificates, and the denominator of which is the aggregate Stated Principal Balance of the Mortgage Loans, calculated after taking into account distributions of principal on the Mortgage Loans and distribution of the Principal Distribution Amount to the Certificates then entitled to distributions of principal on such Distribution Date.

  • 364-Day Credit Agreement means the 364-Day Credit Agreement, dated as of the date hereof, among the Borrowers, the several banks and other financial institutions from time to time parties thereto, JPMorgan Chase Bank, as administrative agent, and the other agents party thereto.

  • Emission Reduction Credits or “ERC(s)” means emission reductions that have been authorized by a local air pollution control district pursuant to California Division 26 Air Resources; Health and Safety Code Sections 40709 and 40709.5, whereby such district has established a system by which all reductions in the emission of air contaminants that are to be used to offset certain future increases in the emission of air contaminants shall be banked prior to use to offset future increases in emissions.

  • Swingline Participation Amount as defined in Section 2.7(c).

  • Facility Fee Percentage means, as of any date, the percentage set forth in the column headed “Facility Fee Percentage” in Section 2.3 that is in effect on such date.

  • Company Credit Agreement means the Amended and Restated Credit Agreement, dated as of September 30, 2016, as amended from time to time, among the Company, the guarantors named therein, the lenders named therein, and Xxxxx Fargo Bank, National Association, as administrative agent and collateral agent, and all pledge, security, guaranty and other agreements and documents related thereto.

  • Revolving Loan Account has the meaning described in Section 2.1.9 (Revolving Loan Account).

  • Senior Enhancement Percentage With respect to any Distribution Date, the percentage obtained by dividing (x) the sum of (i) the aggregate Class Certificate Balance of the Subordinated Certificates and (ii) the Subordinated Amount (in each case after taking into account the distributions of the Principal Distribution Amount for such Distribution Date) by (y) the aggregate Stated Principal Balance of the Mortgage Loans for such Distribution Date.

  • frozen account means an account with a relevant institution which is held or controlled (directly or indirectly) by a designated person;

  • Credit hour means 50 minutes of classroom instruction in

  • Universal Credit means any payment of Universal Credit payable under the Welfare Reform Act 2012, the Universal Credit Regulations 2013, The Universal Credit (Consequential, Supplementary, Incidental and Miscellaneous Provisions) Regulations 2013, Universal Credit (Miscellaneous Amendments) Regulations 2013 and the Universal Credit (Transitional Provisions) Regulations 2014;

  • Revolving Advance has the meaning given in Section 2.1.

  • Plan Account means the account established for each Participant pursuant to Section 8(a).

  • Unused Revolving Line Facility Fee is defined in Section 2.4(d).