Retirement Payment Commencement Date definition

Retirement Payment Commencement Date has the meaning set forth in Section 6.3(b)(ii).
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Retirement Payment Commencement Date means the first day of the month coincident with or next following the later of (a) the date the Participant reaches, or would have reached if still living, age sixty (60), and (b) the Participant's Termination Date.
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Retirement Payment Commencement Date means either:
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Examples of Retirement Payment Commencement Date in a sentence

  • Payment of the Supplemental Benefit described in this Article 2 shall be made in accordance with the schedule provided in Section 1.2, except that the date of the Executive's death (the "Early Benefit Date") shall be substituted for the Benefit Date and the first day of the second calendar month coinciding with or next following the Early Benefit Date (the "Early Benefit Payment Commencement Date") shall be substituted for the Retirement Payment Commencement Date.

  • The "Annual Amount" shall be calculated so that the present value of the fifteen (15) equal payments of the Annual Amount, when discounted at 7 percent (or such other percent as may be determined by the Board of Directors of Elco Industries, Inc., in its sole discretion) per annum, is equal to the balance of the Executive's Account as defined in Section 1.1 on the Retirement Payment Commencement Date.

  • In the event of a Change in Control, or if a Change in Control is imminent, the Employer shall immediately make an additional contribution to the rabbi trust in an amount sufficient to fully fund the Executive's benefits under the Plan, whether or not vested, and upon the later of the Retirement Payment Commencement Date or the date of the Change in Control, Executive may elect to receive a lump sum payment of his benefits (determined by using a discount factor of 5% per annum) under this provision.

  • A Participant who has completed a total of not less than ten (10) Years of Credited Service (of which at least four (4) Years of Credited Service have been completed subsequent to the Effective Date of this Plan) shall be entitled to receive payment of his Normal Retirement Benefit commencing on his Retirement Payment Commencement Date.

  • At any time after a Change in Control has occurred, a Participant may elect to receive his or her Normal Retirement Benefit (or if payment thereof has already commenced, any remaining payments of the Participant's Normal Retirement Benefit) as a lump sum payment, using a five percent (5%) discount factor per annum, commencing upon the later of (a) the Participant's Retirement Payment Commencement Date, and (b) the date of the Change in Control.

  • A Participant who has completed a total of not less than ten (10) Years of Credited Service (of which at least four (4) Years of Credited Service have been completed subsequent to the Effective Date of this Plan) shall be entitled to receive, on his Retirement Payment Commencement Date, at Participant's sole discretion, either (i) payment of his Normal Monthly Retirement Benefit or (ii) a one-time lump sum payment of the Normal Retirement Benefit.

  • The "Annual Amount" shall be calculated so that the present value of the fifteen (15) equal payments of the Annual Amount, when discounted at 7 percent (or such other percent as may from time to time be determined by the Board of Directors of Elco Industries, Inc., in its sole discretion) per annum, is equal to the balance of the Executive's Account as defined in Section 1.1 on the Retirement Payment Commencement Date.

  • At any time after a Change in Control has occurred, ----------------- a Participant may elect to receive his or her Normal Retirement Benefit (or if payment thereof has already commenced, any remaining payments of the Participant's Normal Retirement Benefit) as a lump sum payment, using a five percent (5%) discount factor per annum, commencing upon the later of (a) the Participant's Retirement Payment Commencement Date, and (b) the date of the Change in Control.

  • Payment of the Supplemental Benefit described in this Article 2 shall be made in accordance with the schedule provided in Section 1.2, except that the date of the Executive's death (the "Early Benefit Date") shall be substituted for the Benefit Date and the first day of the second calendar month coinciding with or next following the Early Benefit Date (the "Early Benefit Payment Commencement Date" ) shall be substituted for the Retirement Payment Commencement Date.

  • A Participant who has completed a total of not less than ten (10) Years of Credited Service (of which at least four (4) Years of Credited Service have been completed subsequent to the Effective Date of this Plan) shall be entitled to receive, on his Retirement Payment Commencement Date, at Participant's sole discretion, either (i) payment of his Normal Monthly Retirement Benefit or (ii) a lump sum payment of the Normal Retirement Benefit, using a three percent (3%) discount factor per annum.

Related to Retirement Payment Commencement Date

  • Payment Commencement Date means the date payments of amounts deferred begin pursuant to Article III, Section 6.

  • Benefit Commencement Date means, for any Participant or beneficiary, the date as of which the first benefit payment, including a single sum, from the Participant’s Account is due, other than pursuant to a withdrawal under Article VIII.

  • Employment Commencement Date means the date on which the Employee first performs an Hour of Service.

  • Reemployment Commencement Date means the first day following a One-Year Period of Severance on which an Employee is entitled to be credited with an Hour of Service described in Paragraph (a)(1) of the definition of “Hour of Service” in this Article.

  • Distribution Commencement Date means the Issue Date or such other date as may be specified as the Distribution Commencement Date on the face of such Perpetual Security;

  • Pay Out Commencement Date means the date on which a Trust Pay Out Event is deemed to occur pursuant to Section 9.01 of the Agreement or a Series 2001-D Pay Out Event is deemed to occur pursuant to Section 7 hereof.

  • Accumulation Commencement Date means January 1, 2021, or such later date as the Calculation Agent on behalf of the Issuer determines in accordance with Section 2.11 hereof.

  • Annuity Commencement Date is the first day of the month an annuity begins under this contract. This date may not be later than the date a Participant's periodic benefits are required to commence under the Code.

  • Vesting Commencement Date means the Grant Date or such other date selected by the Committee as the date from which an Award begins to vest.

  • Interest Commencement Date means the Issue Date of the Notes or such other date as may be specified as the Interest Commencement Date in the relevant Final Terms;

  • Billing Commencement Date means the earlier of:

  • Basic Rent Payment Date means the Delivery Date, and the numerically corresponding day in each calendar month thereafter during the Term, and if such day is not a Business Day, then the immediately preceding calendar day which is a Business Day.

  • Amortization Commencement Date means the date on which an Amortization Event is deemed to occur pursuant to Section 20 hereof.

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

  • Postponed Retirement Date means the first day of the month coincident with or next following a Participant’s date of actual retirement which occurs after his Normal Retirement Date.

  • lump sum payment period means the period measured in weeks of salary, for which payment has been made to facilitate the transition to retirement or to other employment as a result of the implementation of various programs to reduce the size of the Public Service. The lump sum payment period does not include the period of severance pay, which is measured in a like manner.

  • Offer Commencement Date means the date on which Purchaser commences the Offer, within the meaning of Rule 14d-2 under the Exchange Act.

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

  • Termination Payment Date means the earlier of the first Distribution Date following the liquidation or sale of the Receivables as a result of an Insolvency Event and the occurrence of the Scheduled Series 1995-1 Termination Date.

  • the commencement date means the date on which the Contract shall take effect, as notified by the Authority to the Contractor in a letter awarding the Contract.

  • Rent Commencement Date means the Commencement Date.

  • Loan Commencement Date means, with respect to each Growth Capital Loan: (a) the first day of the first full calendar month following the Borrowing Date of such Loan if such Borrowing Date is not the first day of a month; or (b) the same day as the Borrowing Date if the Borrowing Date is the first day of a month.

  • Lease Commencement Date has the meaning specified in Section 3.2 of the Master Lease.

  • Term Commencement Date shall be the later of (i) November 1, 2006 or (ii) the date on which Landlord’s Work is Substantially Complete (or the date on which Landlord’s Work would have been Substantially Complete absent Tenant Delay or Force Majeure (as defined below)); provided, however, that if the Term Commencement Date is not the first day of a calendar month, then the first lease year shall be extended through the last day of the calendar month in which the first 12-month period expires, and Rent for the additional period at the end of the first lease year shall be payable at the rate for the 12th month of the Term. “Force Majeure” means accident; breakage; repair; governmental regulation, moratorium or other governmental action. The “Term Expiration Date” shall be the day immediately preceding the seventh (7th) anniversary of the Term Commencement Date, provided that if such preceding day is not the last day of a calendar month, then the Term Expiration Date shall be the last date of the calendar month in which such preceding day occurs. Landlord and Tenant shall each execute and deliver to the other written acknowledgment of the actual Term Commencement Date and the Term Expiration Date when such are established, and shall attach it to this Lease as Exhibit B. Failure to execute and deliver such acknowledgment, however, shall not affect the Term Commencement Date or Landlord’s or Tenant’s liability hereunder. Failure by Tenant to obtain validation by any medical review board or other similar governmental licensing of the Premises required for the Permitted Use by Tenant shall not serve to extend the Term Commencement Date.