Substitute Payment definition

Substitute Payment shall have the meaning given in Section 6.2 hereof.
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Substitute Payment means an amount equal to the present value of a single life annuity for Employee with an annual benefit of $68,250 paid on a monthly basis commencing on July 31, 2009. For purposes of this Amendment the present value shall be determined by Employer using the insurance industry’s standard 1983 Group Annuity Mortality Table and an interest rate equal to the average (for the 90 days ending June 30, 2009) yield of ten-year U.S. Treasury Notes (as reported over such period in The Wall Street Journal or any successor to such publication).
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Substitute Payment has the meaning given to it in Section 3.4;
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Examples of Substitute Payment in a sentence

  • If a borrower did not receive a billing statement, Field Staff can submit the payment using Form RD 3550-27, Substitute Payment Coupon.

  • For non-US or Fed traded assets, the Borrowing Broker and Lending Agent agree on the Cash Dividend Substitute Payment amount due from the Borrower and the Borrower confirms the Value Date of the payment.

  • Where Collateral consists of securities and the Approved Borrower, pursuant to an SLA, is due to receive an amount equal to the interest or distribution declared ("Collateral Substitute Payment") in respect of such Collateral during the term of the related securities loan, BBH&CO shall promptly remit or cause to be remitted such Collateral Substitute Payment on behalf of the Fund to the Approved Borrower in accordance with such Approved Borrower's instructions.

  • Where Collateral consists of securities and the Approved Borrower, pursuant to an SLA, is due to receive an amount equal to the interest or distribution declared (“Collateral Substitute Payment”) in respect of such Collateral during the term of the related securities loan, BBH&Co. shall promptly remit or cause to be remitted such Collateral Substitute Payment on behalf of the Fund to the Approved Borrower in accordance with such Approved Borrower’s instructions.

  • For each billing cycle during the first year that this Agreement is in effect, the Substitute Payment will equal (i) the current price per kWh established in Exhibit A, multiplied by (ii) the estimated daily generation implied in Section 2(d), as well as the number of days for which Substitute Payments are due, minus (iii) any payment due for any kWh that are produced by the Solar Facility during the current billing cycle.

  • The Borrowing Broker owes a payment to the client for a Manufactured Income or Substitute Payment representing the Cash Dividend Income the client is due for shares on-loan at the agent over Record Date.

  • For each billing cycle after the first year that this Agreement is in effect, the Substitute Payment will equal (i) the current price per kWh established in Exhibit A, multiplied by (ii) the kWh produced by the Solar Facility during the corresponding billing cycle in the previous year, minus (iii) any payment due for any kWh that are produced by the Solar Facility during the current billing cycle.

  • Where Collateral consists of securities and the Approved Borrower, pursuant to an SLA, is due to receive an amount equal to the interest or distribution declared (“Collateral Substitute Payment”) in respect of such Collateral during the term of the related securities loan, BBH&Co. shall promptly remit or cause to be remitted such Collateral Substitute Payment on behalf of the applicable Fund to the Approved Borrower in accordance with such Approved Borrower’s instructions.

  • For the second measure,i,USwe assign the average U.S. individualism score to those respondents of the U.S. Census whodo not report their ancestry, I(2)= Σlλ˜liIl. We denote the corresponding distance measureilas Cultural distance(2)(2)= |Ii,US− Il|.

  • This process should be completed within the Payroll period (no later than the 15th of the month).• Form Link - Mid-Term Course Reassignment Work Sheet (Purple Form) Substitute Payment Form (Time sensitive) / Application for Leave‌The Substitute Payment Form is used to set up payment for a substitute instructor.


More Definitions of Substitute Payment

Substitute Payment has the meaning set forth in Clause 17.4;
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Related to Substitute Payment

  • PAGA Payment means the penalties pursuant to PAGA that the Parties have agreed is a

  • LWDA PAGA Payment means the 75% of the PAGA Penalties paid to the LWDA under Labor Code section 2699, subd. (i).

  • Parachute Payment means any payment deemed to constitute a “parachute payment” as defined in Section 280G of the Internal Revenue Code of 1986, as amended.

  • Change in Control Price means the amount determined in the following clause (i), (ii), (iii), (iv) or (v), whichever the Committee determines is applicable, as follows: (i) the price per share offered to holders of Stock in any merger or consolidation, (ii) the per share Fair Market Value of the Stock immediately before the Change in Control or other event without regard to assets sold in the Change in Control or other event and assuming the Company has received the consideration paid for the assets in the case of a sale of the assets, (iii) the amount distributed per share of Stock in a dissolution transaction, (iv) the price per share offered to holders of Stock in any tender offer or exchange offer whereby a Change in Control or other event takes place, or (v) if such Change in Control or other event occurs other than pursuant to a transaction described in clauses (i), (ii), (iii), or (iv) of this Section 2(h), the value per share of the Stock that may otherwise be obtained with respect to such Awards or to which such Awards track, as determined by the Committee as of the date determined by the Committee to be the date of cancellation and surrender of such Awards. In the event that the consideration offered to stockholders of the Company in any transaction described in this Section 2(h) or in Section 8(e) consists of anything other than cash, the Committee shall determine the fair cash equivalent of the portion of the consideration offered which is other than cash and such determination shall be binding on all affected Participants to the extent applicable to Awards held by such Participants.

  • Change in Control Event means any of the following:

  • Late Payment means any amount that is due and payable by law under a written procurement contract, without deferral, delay, or set-off under COMAR 21.02.07.03, and remains unpaid more than 45 days after an agency receives a Proper Invoice.