Permissible Payments definition

Permissible Payments means one or more of the following six (6) conditions, specified by the Plan Sponsor in the Adoption Agreement, under which Payment may be made to a Participant or his or her Beneficiary under the terms of the Plan: (i) the Participant’s Separation from Service, (ii) the Participant’s death, (iii) the Participant’s Disability, (iv) a Change in Ownership or effective control of the Plan Sponsor, or in the ownership of a substantial portion of the assets of the Plan Sponsor, (v) upon the occurrence of an Unforeseeable Emergency, or (vi) a time or a fixed schedule specified under the Plan, in accordance with Treasury Regulation §1.409A-3(a).
Sample 1
Permissible Payments means the following three (3) events upon which payment will be made to a Participant or their Designated Beneficiary under the terms of the Plan: (i) the Participant’s Separation from Service, (ii) upon an Unforeseeable Emergency, or (iii) a time or a fixed schedule specified under the Plan, in accordance with Treasury Regulation §1.409A-3(a).
Sample 1Sample 2
Permissible Payments means (a) Run Rate Dividends or equity repurchases made on account of the Common Stock in accordance with past practice, so long as (i) if such payment is made after the second anniversary of the Closing Date, (A) no Event of Default exists and is continuing, (B) immediately following such payment, the Market Capitalization Ratio would be equal to or greater than 2.0, and (C) immediately following such payment, the Maximum Fixed Obligations Ratio would be equal to or less than 4.0, and (ii) if such payment is made prior to or on the second anniversary of the Closing Date, then (A) all dividends with respect to the shares of the Series A Preferred Stock for the Dividend Period in which such dividend is paid or such repurchase is made have been paid in cash, (B) with respect to dividends only, (1) such dividend occurs in a PIK and Pay Quarter, and (2) after the payment of such dividend, the aggregate amount of dividends paid in PIK and Pay Quarters is less than $150,000,000, or (C) if the aggregate amount of dividends paid in PIK and Pay Quarters is
Sample 1Sample 2

Examples of Permissible Payments in a sentence

  • Permissible Payments The payment of normal discounts and allowances, commissions, fees, sales promotion activity, entertainment, and the extension of services and other customary courtesies in the ordinary course of business is permissible so long as they have been authorized and properly recorded.

  • All Permissible Payments made under the Plan shall be made in cash.

  • Subsequent Elections shall continue in effect until a written revocation or change in the subsequent Election is received by the Company, except that a written revocation or change in a subsequent Election must be received by the Company prior to the last day for making the subsequent Election determined in accordance the preceding paragraphs of this Section 15.3.15.4 Payment of Section 409A Deferred Compensation.(a) Permissible Payments.

  • Subsequent Elections shall continue in effect until a written revocation or change in the subsequent Election is received by the Company, except that a written revocation or change in a subsequent Election must be received by the Company prior to the last day for making the subsequent Election determined in accordance the preceding paragraphs of this Section 15.3.- 18 -15.4 Payment of Section 409A Deferred Compensation.(a) Permissible Payments.

  • Permissible Payments The payment of normal discounts and allowances, commissions, fees, sales promotion activity, entertainment and the extension of services and other customary courtesies in the ordinary course of business is permissible so long as they have been authorized and properly recorded.

  • Any stipend, per diem payment or gift of any instrument exchangeable for cash, products or services is prohibited.14.2.1.2 Permissible Payments, Gifts, Travel, Entertainment and Educational Expenses for Foreign OfficialsThe FCPA, UK Bribery Act, and other anti-bribery rules do not prohibit all gifts and entertainment for Foreign Officials.

  • CUSTOMER, SUPPLIER AND COMPETITOR RELATIONS 5 Permissible Payments 6 Bribes 6 Gifts 6 VII.

  • PAYMENTS................................................................7 Section 4.1 Physician as Trustee..................................................7 Section 4.2 Permissible Payments of Subordinated Claims...........................7 Section 4.3 Prepayments to Physician..............................................7 Section 4.4 Insurance Proceeds....................................................8 ARTICLE 5.

  • Subsequent Elections shall continue in effect until a written revocation or change in the subsequent Election is received by the Company, except that a written revocation or change in a subsequent Election must be received by the Company prior to the last day for making the subsequent Election determined in accordance the preceding paragraphs of this Section 16.3.16.4 Payment of Section 409A Deferred Compensation.(a) Permissible Payments.

  • Permissible Payments The FCPA does allow certain types of payments to foreign officials under very limited circumstances.


More Definitions of Permissible Payments

Permissible Payments means one or more of the following events upon which payment may be made to a Participant or his Beneficiary under the terms of the Plan: (i) the Participant’s Separation from Service, (ii) the Participant’s death, (iii) the Participant’s Disability, or (iv) a Change in Control of the Plan Sponsor.
Sample 1
Permissible Payments means one or more of the following six (6) events upon which payment will be made to a Participant or their Beneficiary under the terms of the Plan: (i) the Participant’s Separation from Service, (ii) the Participant’s death, (iii) the Participant’s Disability, (iv) a change in ownership or effective control of the Plan Sponsor, or in the ownership of a substantial portion of the assets of the Plan Sponsor, (v) upon the occurrence of an Unforeseeable Emergency, or (vi) a time (or pursuant to a fixed schedule) specified under the Plan, within the meaning of Treasury Regulation 1.409A-3(i)(1).
Sample 1
Permissible Payments means cash payments by DMI to Quixote during the period commencing October 1, 1996 and ending at the close of business on the day preceding the Closing Date in respect of such period, but only if made in the ordinary course of business consistent with past practice, for the following purposes: (i) employee and DMI matching contributions to A-3
Sample 1
Permissible Payments means one or more of the following six (6) events upon which payment will be made to a Participant or their Beneficiary under the terms of the Plan: (i) the Participant’s Separation from Service, (ii) the Participant’s death, (iii) the Participant’s Disability, (iv) a change in ownership or effective control of the Plan Sponsor, or in the ownership of a substantial portion of the assets of the Plan Sponsor, (v) upon the occurrence of an Unforeseeable Emergency, or (vi) a time (or pursuant to a fixed schedule) specified under the Plan or the Joinder Agreement (in accordance with the terms of the Plan), within the meaning of Treasury regulation 1.409A-3(i)(1).
Sample 1

Related to Permissible Payments

  • Maximum Allowable Payment means the maximum amount, as established by AvMed, which AvMed will pay for any Covered Service rendered by a Non-Participating Provider or supplier of services, medications or supplies, except for Emergency Medical Services and Care as defined herein. The Maximum Allowable Payment may be changed at any time by AvMed without notice to you or your consent.

  • Total After-Tax Payments means the total of all “parachute payments” (as that term is defined in Section 280G(b)(2) of the Code) made to or for the benefit of the Executive (whether made hereunder or otherwise), after reduction for all applicable federal taxes (including, without limitation, the tax described in Section 4999 of the Code).

  • Excess Contributions means, with respect to any Plan Year, the excess of:

  • PRE-PAYMENT The Tenant shall: (check one) ☐ - Pre-Pay Rent in the amount of $ for the term starting on and ending on . The Pre-Payment of Rent shall be due upon the execution of this Agreement. ☐ - Not be required to Pre-Pay Rent.

  • Contingent Payments has the meaning set forth in Section 2.02(a).

  • After-Tax Contributions means amounts withheld from an Employee’s Compensation pursuant to a Salary Reduction Agreement after all applicable state and federal taxes have been deducted. Such amounts are withheld for purposes of purchasing one or more of the Benefit Package Options available under the Plan.

  • Delayed contribution payment means an amount paid by an employee for purchase of current service. The amount shall be determined using the same formula in KRS 61.5525, and the payment shall not be picked up by the employer. A delayed contribution payment shall be deposited to the member's account and considered as accumulated contributions of the individual member. In determining payments under this subsection, the formula found in this subsection shall prevail over the one found in KRS 212.434;

  • Damage Payment means the dollar amount equal to the amount to be posted as Project Development Security pursuant to Section 8.4(a)(i) hereof.

  • Aggregate Payments as defined in Section 7.2.

  • Closing Date Payment has the meaning set forth in Section 2.04(a)(i).

  • Defined Contribution Dollar Limitation means, for any Limitation Year, $46,000, as adjusted for increases in the cost-of-living under Code section 415(d). If a short Limitation Year is created because of a Plan amendment changing the Limitation Year to a different 12-consecutive month period, the Defined Contribution Dollar Limitation for the short Limitation Year will not exceed the amount determined in the preceding sentence multiplied by a fraction, the numerator of which is the number of months in the short Limitation Year and the denominator of which is 12.

  • Excess Contribution means a contribution that exceeds the

  • Allowable emissions means the emission rate of a stationary source calculated using both the maximum rated capacity of the source, unless the source is subject to federally enforceable limits which restrict the operating rate or hours of operation, and the most stringent of the following:

  • Contribution Amounts the aggregate amount of capital contributions applied by the Borrower to permit the Incurrence of Contribution Indebtedness pursuant to Subsection 8.1(b)(xi).

  • Contribution Percentage Amounts means the sum of the Employee Contributions, Matching Contributions, and Qualified Matching Contributions (to the extent not taken into account for purposes of the ADP test) made under the Plan on behalf of the participant for the Plan Year. Such Contribution Percentage Amounts shall not include Matching Contributions that are forfeited either to correct Excess Aggregate Contributions or because the contributions to which they relate are Excess Deferrals, Excess Contributions, or Excess Aggregate Contributions. If so elected in the adoption agreement the Employer may include Qualified Nonelective Contributions in the Contribution Percentage Amounts. The Employer also may elect to use Elective Deferrals in the Contribution Percentage Amounts so long as the ADP test is met before the Elective Deferrals are used in the ACP test and continues to be met following the exclusion of those Elective Deferrals that are used to meet the ACP test.

  • Reasonable payment means, with respect to professional and other technical services, a payment in an amount that is consistent with the amount normally paid for such services in the private sector.

  • Class Expenses means expenses incurred by a particular Class in connection with a shareholder services arrangement or a distribution plan that is specific to such Class or any other differing share of expenses or differing fees, in each case pursuant to a plan adopted by the Trust pursuant to Rule 18f-3 under the 1940 Act, as such plan or Rule may be amended from time to time;

  • Catch-Up Contributions means Salary Reduction Contributions made to the Plan that are in excess of an otherwise applicable Plan limit and that are made by Participants who are Age 50 or over by the end of their taxable years. An “otherwise applicable Plan limit” is a limit in the Plan that applies to Salary Reduction Contributions without regard to Catch-up Contributions, such as the limits on Annual Additions, the dollar limitation on Salary Reduction Contributions under Code Section 402(g) (not counting Catch-up Contributions) and the limit imposed by the Actual Deferral Percentage (ADP) test under Code Section 401(k)(3). Catch-up Contributions for a Participant for a taxable year may not exceed the dollar limit on Catch-up Contributions under Code Section 414(v)(2)(B)(i) for the taxable year. The dollar limit on Catch-up Contributions under Code Section 414(v)(2)(B)(i) is $1,000 for taxable years beginning in 2002, increasing by $1,000 for each year thereafter up to $5,000 for taxable years beginning in 2006 and later years. After 2006, the $5,000 limit will be adjusted by the Secretary of the Treasury for cost-of-living increases under Code Section 414(v)(2)(C). Any such adjustments will be in multiples of $500.

  • Contingent Compensation Payment means any payment (or benefit) in the nature of compensation that is made or made available (under this Agreement or otherwise) to a “disqualified individual” (as defined in Section 280G(c) of the Code) and that is contingent (within the meaning of Section 280G(b)(2)(A)(i) of the Code) on a Change in Ownership or Control of the Company.

  • Regular contributions means the amounts required to be

  • Exception Payments means payments to deposit accounts or brokerage accounts, payments to settle securities transactions (including, without limitation, stocks, bonds, securities, futures (forex), options, or an investment interest in any entity or property).

  • Gross-Up Payment shall have the meaning set forth in Section 6.2 hereof.

  • Deductible Amount means, with respect to any Insuring Agreement, the amount set forth under the heading “Deductible Amount” in Item 3 of the Declarations or in any Rider for such Insuring Agreement, applicable to each Single Loss covered by such Insuring Agreement.

  • Actual Contribution Percentage means, with respect to a Plan Year, the ratio (expressed as a percentage) of the sum of the amount of (a) Matching Contributions, (b) After-Tax Contributions, (c) Qualified Nonelective ESOP Contributions, and (d) Tax Deferred Contributions recharacterized as After-Tax Contributions, made on behalf of the Participant for the Plan Year to the Participant’s Testing Compensation for the Plan Year.

  • Termination Payments has the meaning specified in Section 10(a).

  • Event Payments has the meaning set forth in Section 6.1(d).