Termination Credit definition

Termination Credit means the sum which is the net present value of the difference between (a) the Charter Hire payable under this Charter for the Termination Credit Period and (b) the market rate of hire for a replacement bareboat charter on similar terms as this Charter (determined by an Approved Valuer) for the Termination Credit Period PROVIDED that such sum shall not exceed the Termination Purchase Amount (for the avoidance of doubt without deduction of a Reduction Amount).
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Termination Credit means the subsidy fund provided by the Company to the Customer in respect of the Contract Buy-out;
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Termination Credit means the amount detailed on the Customer Requirements Form for Termination Charges;
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Examples of Termination Credit in a sentence

  • If the insured dies during the grace period, the death benefit proceeds (which include any Indexed Termination Credit) will equal the amount of the death benefit immediately prior to the commencement of the grace period, reduced by any unpaid monthly deductions and charges due and any Total Policy Debt.

  • If the accumulated value plus any Indexed Termination Credit less Standard Policy Debt is insufficient to cover deductions and charges on a monthly payment date, Pacific Life will give written notice to the Policy Owner that if the amount shown in the notice (which will be sufficient to cover the deduction amount(s) due) is not paid within 61 days (the “grace period”), the Policy Owner faces a danger of lapse.

  • If the accumulated value plus any Indexed Termination Credit less Total Policy Debt is insufficient to cover deductions and charges on a monthly payment date, Pacific Life will give written notice to the Policy Owner that if the amount shown in the notice (which will be sufficient to cover the deduction amount(s) due) is not paid within 61 days (the “grace period”), the Policy Owner faces a danger of lapse.

  • Purchase of Termination Credit Certain members subject to a reduction-in-force are eligible to purchase termination credit.

  • In order to avoid termination, the Policy Owner must pay a minimum of the Monthly Deduction due plus three times the Monthly Deduction due when the insufficiency occurred less any Indexed Termination Credit, plus any applicable Premium Load.If the required payment is made during the grace period, such payment will be allocated in accordance with the Policy Owner’s Allocation Instructions.

  • In order to avoid termination, the Policy Owner must pay a minimum of the Monthly Deduction due plus three times the Monthly Deduction due when the insufficiency occurred less any Indexed Termination Credit, plus any applicable Premium Load.If the required payment is made during the grace period, such payment will be allocated among the variable accounts and the fixed accounts in accordance with the Policy Owner’s allocation instructions.

  • Members who are within six points of achieving eligibility for normal retirement under the 80/90 point provisions or who are within three years of achieving eligibility for normal retirement are eligible to purchase termination credit{xe "Termination Credit"} if they are subject to a reduction-in-force.Members must also have at least six years of full-time-equivalent employment with a participating employer to be eligible to purchase termination credit.

  • If your Accumulated Value plus any Indexed Termination Credit less any Standard Policy Debt is insufficient to pay for Policy charges, your Policy will enter its Grace Period.

  • The Termination Credit specified on the Customer Requirements Form is the maximum amount payable by VMUK in respect of Termination Charges and in no instance will the Customer be entitled to an amount in addition to that.

  • It is imperative to note that a student whose Residence Hall and Dining License Agreement is revoked for disciplinary reasons is subject to the same financial assessments as outlined in the next two sections (Termination Credit Policy for Withdrawal from the University and Termination Charge Policy for Cancellation from the Residence Halls).

Related to Termination Credit

  • pension credit ; means the means-tested Guarantee or Savings Credit administered by the Department for Work and Pensions under the State Pension Credit Regulations 2002;

  • Termination Benefit means the benefit set forth in Article 7.

  • Scheduled Commitment Termination Date means March 21, 2023March 28, 2022.

  • Disability Support Pension means the Commonwealth pension scheme to provide income security for persons with a disability as provided under the Social Security Act 1991, as amended from time to time, or any successor to that scheme.

  • Termination for Cause" shall mean termination of the Executive's employment because of:

  • Terminated Participant means a person who has been a Participant, but whose employment has been terminated other than by death, Total and Permanent Disability or retirement.

  • Loan Termination Date means the earliest to occur of the following: (a) November , 2009, (b) the date the Obligations are accelerated pursuant to this Agreement or the Revolving Note and (c) the date the Bank has received (i) notice in writing from the Borrower of the Borrower’s election to terminate this Agreement or the Revolving Note or (ii) indefeasible payment in full of the Obligations.

  • Revolving Loan Termination Date means the earlier of (a) the fifth anniversary of the Funding Date and (b) the date of termination in whole of the Aggregate Revolving Loan Commitment pursuant to Section 2.05(a) or Section 9.01 hereof.

  • Termination Compensation means a monthly cash amount equal to one-twelfth ( 1/12th) of the highest amount of the annual cash compensation (including cash bonuses and other cash-based compensation, including for these purposes amounts earned or payable whether or not deferred) received by Executive during any one of the three (3) calendar years immediately preceding the calendar year in which Executive’s Termination Date occurs; provided, that if the cash compensation received by Executive during the Termination Year exceeds the highest amount of the annual cash compensation received by Executive during any one of the immediately preceding three (3) consecutive calendar years, the cash compensation received by Executive during the Termination Year shall be deemed to be Executive’s highest amount of annual cash compensation. In no event shall Executive’s Termination Compensation include equity-based compensation (e.g., income realized as a result of Executive’s exercise of non-qualified stock options or other stock based benefits).

  • Termination, Moving You may cancel your acceptance of the Agreement with XOOM at any time prior to midnight of the thirtieth (30th) calendar day after the date of the first bill from your utility that includes XOOM charges for gas supply service without penalty or cancellation fee by calling XOOM at 0-000-000-0000 or by sending an email to xxxxxxxxxxxx@xxxxxxxxxx.xxx. When moving to an address within your local utility’s service territory, XOOM will make every effort to transfer your service to your new service address, provided that you notify XOOM within fifteen (15) days of your move. If a transfer of service is not successful or you move to a location outside your local utility’s service territory, you may cancel this Agreement at no cost to you. Failure to notify XOOM of your move will be considered a cancellation of this Agreement in accordance with its terms.

  • Network Termination Point (NTP) means the physical point at which a subscriber is provided with access to a public communications network; in the case of networks involving switching or routing, the NTP is identified by means of a specific network address, which may be linked to a subscriber number or name;

  • Accrual Termination Date Not applicable.

  • Commitment Termination Date means the earlier of (a) the Maturity Date and (b) the earlier termination in whole of the Commitments pursuant to Section 2.04 or Article VII.

  • Revolving Termination Date means the earlier to occur of:

  • Termination Year means the calendar year in which the Employment Period is terminated.

  • Termination Base Salary means that amount equal to Executive’s annual base salary with the Company at the rate in effect immediately prior to the Change of Control or, if a greater amount, Executive’s annual base salary at the rate in effect at any time thereafter.

  • Existing Commitment Termination Date as defined in Section 2.12(a).

  • Revolving Credit Termination Date means the earlier to occur of (i) the Current Termination Date then in effect and (ii) the date of termination in whole of the Commitments pursuant to Section 2.05(a) or 6.01.

  • Extended Termination Date has the meaning specified in Section 2.16(c).

  • Facility Termination Date means the date as of which all of the following shall have occurred: (a) the Aggregate Commitments have terminated, (b) all Obligations have been paid in full (other than contingent indemnification obligations), and (c) all Letters of Credit have terminated or expired (other than Letters of Credit as to which other arrangements with respect thereto satisfactory to the Administrative Agent and the L/C Issuer shall have been made).

  • Revolving Commitment Termination Date means the earliest to occur of (i) the fifth anniversary of the Closing Date, (ii) the date the Revolving Commitments are permanently reduced to zero pursuant to Section 2.13(b) or 2.14, and (iii) the date of the termination of the Revolving Commitments pursuant to Section 8.1.

  • Termination With Cause and “Cause” shall have the same meaning specified in any effective severance or employment agreement existing on the date hereof or hereafter entered into between the Executive and the Bank. If the Executive is not a party to a severance or employment agreement containing a definition of termination with cause, Termination with Cause means the Bank terminates the Executive’s employment for any of the following reasons –

  • Revolving Facility Termination Date means the earlier of (i) August 9, 2018, or (ii) the date that the Commitments have been terminated pursuant to Section 8.02.

  • Term Loan Termination Date means the earlier to occur of (a) the Term Loan Maturity Date and (b) the acceleration of the Term Loans in accordance with the terms hereof.

  • Termination Fee Event has the meaning ascribed thereto in Section 8.2(2).

  • Agreement Termination Date is defined in Section 7.4.