Senior Ceiling definition

Senior Ceiling means the maximum total Salary permitted to be paid directly or indirectly by or on behalf of each Club during or in respect of a Salary Cap Year in connection with all of its Senior Players. Subject to paragraphs 2(j) ), (l) or (q) of Schedule 1, all Salary paid during a Salary Cap Year by a Club to a Senior Player will count for the purposes of the Senior Ceiling and must be accounted for in the Club's Certification for that Salary Cap Year;
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Examples of Senior Ceiling in a sentence

  • Failure to pass the payment on to the Players within this deadline will result in the payment being reclassified as Salary for the purposes of both the Senior Ceiling and the Academy Ceiling.

  • In the event that, due to a Senior Player becoming an Injured Player, a Club wishes to procure a replacement to provide cover for the Injured Player the Club shall be permitted to exceed the Senior Ceiling by a maximum of £400,000 to replace the Injured Player, provided the Club has applied in writing to the Salary Cap Manager for dispensation and has been granted dispensation by the Salary Cap Manager in accordance with this Regulation 5.

  • Whereas any breach of the Regulations in relation to Salary exceeding the Senior Ceiling in excess of the Overrun, shall be dealt with in accordance with Regulation 12.

  • For all Overruns of the Senior Ceiling and Academy Ceiling that occur or which are continuing after 1 July 2008, in order for such Overrun to be taxed a Summary Notice relating to that Overrun must be served on the relevant Club within five years of the end of the Salary Cap Year in which the Overrun arose.

  • Any breach of the Regulations in relation to Salary exceeding the Senior Ceiling by £350,000 or more or the Academy Ceiling by £5,000 or more shall be dealt with in accordance with the procedures set out in Regulation 12.

  • Where the Disciplinary Panel concludes that a Club has exceeded the Senior Ceiling or Academy Ceiling by £350,000 or more for a Salary Cap Year governed by the Regulations and and/or is guilty of a Failure to Co-operate, the Disciplinary Panel shall determine the penalty to be imposed on the Club.

  • When determining whether a Club has exceeded the Academy Ceiling or Senior Ceiling by £350,000 or more for a Salary Cap Year governed by the Regulations, the Disciplinary Panel shall take into account any deemed valuation provided by the Salary Cap Manager in accordance with Regulation 6.5.

  • In the long-term, the local socioeconomic potential will increase in the area through future reindustrialization of the site.

  • When determining whether a Club has exceeded the Academy Ceiling or Senior Ceiling by £350,000 0r more for a Salary Cap Year governed by the Regulations, the Disciplinary Panel shall take into account any deemed valuation provided by the Salary Cap Manager in accordance with Regulation 6.5.

  • In respect of the Senior Ceiling for the 2015-16 Salary Cap Year, a Club shall be entitled to a RWC Credit of £35,000 in respect of each of that Club’s RWC Players.

Related to Senior Ceiling

  • Group 2 Senior Certificates As specified in the Preliminary Statement.

  • Senior Certificates As specified in the Preliminary Statement.

  • Group 3 Senior Certificates As specified in the Preliminary Statement.

  • Group 1 Senior Certificates As specified in the Preliminary Statement.

  • Senior Certificate Group As specified in the Preliminary Statement.

  • Group II Senior Certificates As specified in the Preliminary Statement.

  • Group I Senior Certificates As specified in the Preliminary Statement.

  • Subordinate Certificates As specified in the Preliminary Statement.

  • Loan Group 3 The Group 3 Mortgage Loans.

  • Senior Certificate As defined in the Series Supplement.

  • Undercollateralized Group As defined in Section 4.03.

  • Subordinate Net Funds Cap With respect to any Distribution Date, an amount equal to the weighted average of the Pool 1 Net Funds Cap and the Pool 2 Net Funds Cap, weighted on the basis of the Pool Subordinate Amount for each Mortgage Pool; provided, however, that on any Distribution Date after which the aggregate Class Principal Amount of the Senior Certificates relating to any Mortgage Pool has been reduced to zero, such weighting shall be on the basis of the Pool Balance of each Mortgage Pool.

  • Senior Class Debt has the meaning assigned to such term in Section 8.09.

  • Basis Risk Shortfall Carry Forward Amount With respect to any Distribution Date and any Class of Class A Certificates and Class M Certificates, an amount equal to the sum of (A) the excess, if any, of (a) the amount of Current Interest that such Class would have been entitled to receive on such Distribution Date had the Pass-Though Rate applicable to such Class been calculated at a per annum rate equal to One-Month LIBOR plus the related Certificate Margin, over (b) the amount of Current Interest that such Class received on such Distribution Date if the Pass-Through Rate is limited to the related Net Rate Cap and (B) the amount in clause (A) for all previous Distribution Dates not previously paid, together with interest thereon at a rate equal to the related Pass-Through Rate for such Distribution Date. Bankruptcy Code: Title 11 of the United States Code.

  • Subordinate Reduction Amount With respect to any Payment Date, the sum of the Scheduled Principal, Unscheduled Principal and Recovery Principal for such Payment Date, less the Senior Reduction Amount.

  • Available Funds Cap Any of the Class A-1 Available Funds Cap, the Class A-2 Available Funds Cap or the Weighted Average Available Funds Cap.

  • Senior Reduction Amount With respect to any Payment Date is either:

  • Subordinate Prepayment Percentage As to any Distribution Date and Loan Group, 100% minus the Senior Prepayment Percentage for such Loan Group for such Distribution Date.