Present Value Amount means the amount calculated by the Compensation Committee as of the date of the termination of the Executive's employment as described in paragraph 3.a., using as a mortality basis the mortality basis used by the PEC Retirement Plan for determining benefits, or if such mortality basis is not available, a mortality basis determined by the PEC Retirement Plan's consulting actuaries, and using as a discount rate, the discount rate utilized under the PEC Retirement Plan for determining lump sum benefits assuming the Executive's last day of employment is the date of the Executive's termination of employment as described in paragraph 3.a.
Present Value Amount means the amount calculated by the PEC Directors' Compensation-Nominating Committee as of the date of the termination of the Executive's employment as described in paragraph 3.a., using as a mortality basis the mortality basis used by the PEC Retirement Plan for determining benefits, or if such mortality basis is not available, a mortality basis determined by the PEC Retirement Plan's consulting actuaries, and assuming a discount rate equal to the average of the yield on Thirty (30) year United States Treasury Bonds for the second calendar month preceding the Executive's termination of employment as described in paragraph 3.a. "Rule of Eighty-Five" shall mean the Rule of Eighty-Five as defined under the PEC Retirement Plan. "SARs" shall mean SARs as defined under the PEC LTIC. "Stock Options" shall mean Options as defined under the PEC LTIC. "Term" shall mean the term of this Agreement as set forth in paragraph 2. "Trust" shall mean the Trust under Peoples Energy Corporation Executive Deferred Compensation Plan and Supplemental Retirement Benefit Plan, Part A and Part B, dated September 22, 1995, as amended July 1, 1996, in effect on the Effective Date, as amended from time to time. 2.
Present Value Amount means at any time with respect to any Notes being prepaid in whole or in part pursuant to Section 3.2 hereof or being declared or becoming due and payable pursuant to Section 13.2(A) or (B) hereof, the sum of the Present Values of (A) the aggregate amount of the principal being so prepaid or being declared or becoming due and payable plus (B) each amount of interest which would have been payable on the amount of such principal being prepaid or being declared or becoming due and payable (assuming that all payments and prepayments of principal and interest would have been made in accordance with the terms of this Agreement and the Notes and that interest accrued and unpaid on such principal to the date of prepayment or the date such principal is declared or becomes due and payable has been paid). “Present Value,” for any amount of principal or interest, shall be computed on a semiannual basis at a discount rate equal to the Treasury Yield plus 50 basis points. The “Treasury Yield” shall be determined by reference to (i) the yields reported, as of 10:00 a.m. (New York City time) on the Business Day next preceding the prepayment date or the date any such principal is declared or becomes due and payable, on the display designated as “Page 500” on the Telerate Service (or such other display as may replace Page 500 on the Telerate Service) for actively traded U.S. Treasury securities having a constant maturity equal to the then remaining Weighted Average Life to Maturity of the principal being prepaid or being declared or becoming due and payable, or if such yields shall not be reported as of such time or the yields reported as of such time shall not be ascertainable, (ii) the most recent Federal Reserve Statistical Release H.15 (519) which has become available not more than two Business Days prior to the date of prepayment or the date such principal becomes or is declared due and payable (or, if such Statistical Release is no longer published, any publicly available source of similar market data acceptable to the Majority Holders), and shall be the most recent yield on actively traded U.S. Treasury securities adjusted to a constant maturity equal to the then remaining Weighted Average Life to Maturity of the principal being prepaid or being declared or becoming due and payable. If the Weighted Average Life to Maturity (so computed) is not equal to the constant maturity of a U.S. Treasury security for which a yield is given, the Treasury Yield shall be obtained b...
Examples of Present Value Amount in a sentence
If a Participant has attained Normal Retirement Age as of the determination date, his Employer contribution allocation for a Plan Year equals the Participant's Net Present Value Amount (as determined in paragraph 3).
If a Participant has not attained Normal Retirement Age as of the determination date (i.e., the last day of the Plan Year), his/her Employer Contribution allocation for a Plan Year equals the Participant's Net Present Value Amount (as determined in paragraph 3) multiplied by the appropriate Amortization Factor in Table II (Appendix E).
More Definitions of Present Value Amount
Present Value Amount means at any time with respect to any Notes being prepaid in whole or in part pursuant to Section 3.2 hereof or being declared or becoming due and payable pursuant to Section 13.2(A) or (B) hereof, the sum of the Present Values of (A) the aggregate amount of the principal being so prepaid or being declared or becoming due and payable plus (B) each amount of interest which would have been payable on the amount of such principal being prepaid or being declared or becoming due and payable (assuming that all payments and prepayments of principal and interest would have been made in accordance with the terms of this Agreement and the Notes and that interest accrued and unpaid on such principal to the date of prepayment or the date such principal is declared or becomes due and payable has been paid). “Present Value”, for any amount of principal or interest, shall be computed on a semiannual basis at a discount rate equal to the Treasury Yield plus 50 basis points. The “Treasury Yield” shall be determined by reference to (i) the yields reported, as of 10:00 a.m. (New York City time) on the Business Day next preceding the prepayment date or the date any such principal is declared or becomes due and payable, on the display designated as “Page 500” on the Telerate Service (or such other display as may replace Page 500 on the Telerate Service) for actively traded U.S. Treasury securities having a constant maturity equal to the then remaining Weighted Average Life to Maturity of the principal being prepaid or being declared or becoming due and payable, or if such yields shall not be reported as of such time or the yields reported as of such time shall not be ascertainable, (ii) the most recent Federal Reserve Statistical Release H.15 (519) which has become available not more than two Business Days prior to the
Present Value Amount means the Instalment Payments which, but for the termination of this Specific Security Agreement, would have been payable by Customer under this Specific Security Agreement as from the Termination Date up to and including the Expiry Date (inclusive of any unamortised brokerage or commission comprising part of any Instalment Payments), reduced to a present value as at the Termination Date by applying the Discount Rate to such Instalment Payments.
Present Value Amount means an amount equal to the present value of the total amount the Recipient or his eligible spouse, as applicable, would have received under the provisions of Sections 1.2 or 1.3 if the Net Asset Value Event had not occurred; "Tax Factor" shall mean one less forty-five percent (45%); and "Tax Coverage
Present Value Amount has the meaning set forth in Section 2.12 of the Loan Agreement.
Present Value Amount means the amount calculated by the PEC Directors' Compensation-Nominating Committee as of the date of the termination of the Executive's employment as described in paragraph 3.a., using as a mortality basis the mortality basis used by the PEC Retirement Plan for determining benefits, or if such mortality basis is not available, a mortality basis determined by the PEC Retirement Plan's consulting actuaries, and using as a discount rate, the discount rate utilized under the PEC Retirement Plan for determining lump sum benefits assuming the Executive's last day of employment is the date of the Executive's termination of employment as described in paragraph 3.a.
Present Value Amount means the amount calculated as of March 31, 2002 by using as a mortality basis the mortality basis used by the PEC Retirement Plan for determining lump sum benefits, and by using as a discount rate, the discount rate utilized under the Retirement Plan for determining lump sum benefits based on the average of the yield on Thirty (30) year United States Treasury Bonds for the month of September, 2001 or January, 2002, whichever is lower.
Present Value Amount means at any time with respect to any Notes being prepaid in whole or in part pursuant to Section 3.2 hereof or being declared or becoming due and payable pursuant to Section 13.2(A) or (B) hereof, the sum of the Present Values of (A) the aggregate amount of the principal being so prepaid or being declared or becoming due and payable plus (B) each amount of