Unfunded Obligation definition

Unfunded Obligation shall have the meaning set forth in Section 7.7.1 hereof.
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Unfunded Obligation. This Note constitutes an unfunded obligation of Borrower for income tax purposes. Lender’s rights under the Note shall be no greater than those of a general unsecured creditor of Borrower. The Note is not transferable or assignable pursuant to operation of law or otherwise. BRAINTECH, INC. By: _____________________________ Name: ___________________________ Title: ____________________________ Date: ____________________________
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Unfunded Obligation means, as to any Person as of a given date, any purchase obligation, repurchase obligation, forward commitment, unfunded obligation or guarantee of such Person and its Consolidated Subsidiaries, including without limitation any obligation of such Person and its Consolidated Subsidiaries under an agreement to acquire a quantity of a Security.
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Examples of Unfunded Obligation in a sentence

  • Open-Group Unfunded Obligation Consistent with practice since 1965, this report focuses on a 75-year open- group valuation to evaluate the long-run financial status of the OASDI pro- gram.

  • Table IV.A4.—Reasons for Change in Trust Fund (Unfunded Obligation) Ratios at the Beginning of the Tenth Year of Projection Under Intermediate Assumptions [In percent] Item OASITrust Fund DITrust FundOASI and DI Trust Funds, combined Trust fund ratio shown in last year’s report for calendar year 2029 .

  • Present Value of Unfunded Obligation at the beginning of the year3,228.143,039.032.

  • The city has adopted an Unfunded Obligation Reserve which will be utilized to build up available resources to a level to establish a Retirement Trust fund that can maximize investment earnings to be used to decrease future pension liabilities.In 2010 the city issued a $24.15 million dollar Pension Obligation Bond to eliminate the CalPERS side fund saving approximately $200,000 annually.

  • Table IV.A4.—Reasons for Change in Trust Fund (Unfunded Obligation) Ratios at the Beginning of the Tenth Year of Projection Under Intermediate Assumptions [In percent] Item OASITrust Fund DITrust FundOASI and DI Trust Funds, combinedTrust fund ratio shown in last year’s report for calendar year 2022a.

  • Fair Value of Assets Year Ended March 31, 2014Year Ended March 31, 2013 (`)(`)Present Value of Funded Obligation as at end of the period--Fair Value of Plan Assets as at end of the period--Funded Asset recognized in the Balance Sheet--Included in provision (Schedule )--Present Value of Unfunded Obligation as at end of the period--Unrecognized Actuarial gains / (losses)--Unfunded Liability recognized in the Balance Sheet--Included in provision (Schedule )19,06,08517,20,102C.

  • Reconciliation of Present Value of Defined Benefit Obligation and the Fair Value of AssetsPresent Value of Funded Obligation as at March 31, 2016 84.73145.91Fair Value of Plan Assets as at March 31, 2016 84.73145.91Funded Status (579.50)(662.48)Present Value of Unfunded Obligation as at March 31, 2016 579.50662.48Unfunded Net Liability Recognised in the Balance Sheet disclosedunder Current Liabilities and Provisions (Refer note 5 & 9) 579.50 662.48e.

  • Interest 5,093 4,977 Subtotal Net Periodic Costs89,48488,016 Premium Payments(2,012)(1,934) Actuarial Liability as of September 3087,47286,082 Fund Balance at September 30(35,482)(32,610) Unfunded Obligation at September 3051,99053,472 24Chapter IV FY 2009FY 2008$ Var.% Var.

  • Reconciliation of Present Value of Defined Benefit Obligation and the FairValue of AssetsPresent Value of Funded Obligation as at March 31, 2016 187.22147.84Fair Value of Plan Assets as at March 31, 2016 187.22147.84Funded Status (83.58)(147.48)Present Value of Unfunded Obligation as at March 31, 2016 83.58147.48Unfunded Net Liability Recognised in the Balance Sheetdisclosed under Current Liabilities and Provisions (Refer note 5 & 9) 83.58 147.48e.

  • Fair Value of Assets Year EndedYear Ended March 31, 2016 March 31, 2015 (Rs.)(Rs.)Present Value of Funded Obligation as at end of the period--Fair Value of Plan Assets as at end of the period--Funded Asset recognized in the Balance Sheet--Included in provision (Schedule )--Present Value of Unfunded Obligation as at end of the period--Unrecognized Actuarial gains / (losses)--Unfunded Liability recognized in the Balance Sheet--Included in provision (Schedule )23,35,94121,73,195C.


More Definitions of Unfunded Obligation

Unfunded Obligation means each item described in Schedule D.
Sample 1
Unfunded Obligation. This Note constitutes an unfunded obligation of Borrower for income tax purposes. Lender’s rights under the Note shall be no greater than those of a general unsecured creditor of Borrower. The Note is not transferable or assignable pursuant to operation of law or otherwise. BRAINTECH, INC. By: __________________________ Name: ________________________ Title: _________________________ Date: _________________________
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Unfunded Obligation means those payment amounts associated with a Covered Obligation but for which no coverage is provided under the Liquidation Plan. The specific Unfunded Obligations which are subject to this Agreement are included in Exhibit 7.1.1 and are specifically two situations: (1) those circumstances where a California resident would receive eighty percent (80%) of the benefit payment leaving twenty percent (20%) as the Unfunded Obligation with the shortfall resulting from the enabling act of the California Life and Health Insurance Guarantee Association; and (2) those circumstances where certain term policies were issued by LML more than ninety (90) days after issuance of the original policy.
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Related to Unfunded Obligation

  • Refunded Obligations means, collectively, the Refunded Notes, if any, and the Refunded Bonds, if any, refunded by each Series.

  • L/C Obligation means, as at any date of determination, the aggregate maximum amount then available to be drawn under all outstanding Letters of Credit plus the aggregate of all Unreimbursed Amounts in respect of Letters of Credit, including all L/C Borrowings.

  • Unfunded Pension Liabilities with respect to any Pension Plan, at any date of determination, the amount determined by taking the accumulated benefit obligation, as disclosed in accordance with Statement of Accounting Standards No. 87, "Employers' Accounting for Pensions", over the fair market value of Pension Plan assets.

  • Unfunded Amount means, at any time, the sum of (i) the aggregate Exposure Amount at such time plus (ii) the aggregate Unsettled Amount at such time.

  • Unfunded Liabilities means, with respect to any Plan at any time, the amount (if any) by which (i) the value of all benefit liabilities under such Plan, determined on a plan termination basis using the assumptions prescribed by the PBGC for purposes of Section 4044 of ERISA, exceeds (ii) the fair market value of all Plan assets allocable to such liabilities under Title IV of ERISA (excluding any accrued but unpaid contributions), all determined as of the then most recent valuation date for such Plan, but only to the extent that such excess represents a potential liability of a member of the ERISA Group to the PBGC or any other Person under Title IV of ERISA.

  • Unfunded Pension Liability means the excess of a Pension Plan’s benefit liabilities under Section 4001(a)(16) of ERISA, over the current value of that Pension Plan’s assets, determined in accordance with the assumptions used for funding the Pension Plan pursuant to Section 412 of the Code for the applicable plan year.

  • Unfunded Liability means the amount (if any) by which the present value of all vested and unvested accrued benefits under all Pension Plans exceeds the fair market value of all assets allocable to those benefits, all determined as of the then most recent valuation date for each Pension Plan, using PBGC actuarial assumptions for single employer plan terminations.

  • L/C Obligations means, as at any date of determination, the aggregate amount available to be drawn under all outstanding Letters of Credit plus the aggregate of all Unreimbursed Amounts, including all L/C Borrowings. For purposes of computing the amount available to be drawn under any Letter of Credit, the amount of such Letter of Credit shall be determined in accordance with Section 1.06. For all purposes of this Agreement, if on any date of determination a Letter of Credit has expired by its terms but any amount may still be drawn thereunder by reason of the operation of Rule 3.14 of the ISP, such Letter of Credit shall be deemed to be “outstanding” in the amount so remaining available to be drawn.

  • Unfunded Vested Liabilities means, with respect to any Plan at any time, the amount (if any) by which (i) the present value of all vested nonforfeitable accrued benefits under such Plan exceeds (ii) the fair market value of all Plan assets allocable to such benefits, all determined as of the then most recent valuation date for such Plan, but only to the extent that such excess represents a potential liability of a member of the Controlled Group to the PBGC or the Plan under Title IV of ERISA.

  • Net Obligation means the amount owed to PJMSettlement and PJM for purchases from the PJM Markets, Transmission Service, (under Tariff, Parts II and III , and other services pursuant to the Agreements, after applying a deduction for amounts owed to a Participant by PJMSettlement as it pertains to monthly market activity and services. Should other markets be formed such that Participants may incur future Obligations in those markets, then the aggregate amount of those Obligations will also be added to the Net Obligation.

  • Unfunded Advances/Participations means (a) with respect to the Administrative Agent, the aggregate amount, if any (i) made available to the Borrowers on the assumption that each Lender has made its portion of the applicable Borrowing available to the Administrative Agent as contemplated by Section 2.02(d) of the Credit Agreement and (ii) with respect to which a corresponding amount shall not in fact have been returned to the Administrative Agent by the Borrowers or made available to the Administrative Agent by any such Lender, (b) with respect to any Swingline Lender, the aggregate amount, if any, of participations in respect of any outstanding Swingline Loan that shall not have been funded by the Revolving Credit Lenders in accordance with Section 2.22(e) of the Credit Agreement and (c) with respect to any Issuing Bank, the aggregate amount, if any, of participations in respect of any outstanding L/C Disbursement that shall not have been funded by the Revolving Credit Lenders in accordance with Sections 2.23(d) and 2.02(f) of the Credit Agreement.

  • Unfunded Exposure Amount means, on any date of determination, with respect to any Delayed Funding Term Loan, an amount equal to the aggregate amount of all unfunded commitments associated with such Delayed Funding Term Loan.

  • Unfunded Commitment means, with respect to each Lender, the Revolving Commitment of such Lender less its Revolving Exposure.

  • Unfunded Benefit Liabilities means, with respect to any ERISA Plan at any time, the amount (if any) by which (i) the present value of all accrued benefits calculated on an accumulated benefit obligation basis and based upon the actuarial assumptions used for accounting purposes (i.e., those determined in accordance with FASB statement No. 35 and used in preparing the ERISA Plan’s financial statements) exceeds (ii) the fair market value of all ERISA Plan assets allocable to such benefits, determined as of the then most recent actuarial valuation report for such ERISA Plan.

  • Excluded Obligations has the meaning set forth in Section 2.5.

  • Unfunded Current Liability of any Plan shall mean the amount, if any, by which the present value of the accrued benefits under the Plan as of the close of its most recent plan year, determined in accordance with Statement of Financial Accounting Standards No. 87 as in effect on the date hereof, based upon the actuarial assumptions that would be used by the Plan’s actuary in a termination of the Plan, exceeds the fair market value of the assets allocable thereto.

  • Credit Obligations means all obligations of the Borrowers to the Lender Parties arising under or in connection with or in respect of the Credit Documents, whether direct or indirect, absolute or contingent, now or hereafter existing, or due or to become due.

  • Loan obligation means a bond, note, or other evidence of an obligation issued by a qualified borrower.

  • Credit Improved Obligation means any Collateral Debt Obligation which, in the Investment Manager’s judgment, has significantly improved in credit quality and in respect of which one of the following is satisfied:

  • Sukuk Obligation means any undertaking or other obligation to pay any money given in connection with the issue of trust certificates or other instruments intended to be issued in compliance with the principles of Shari'ah, whether or not in return for consideration of any kind.

  • L/C Reimbursement Obligation means, for any Letter of Credit, the obligation of the Borrower to the L/C Issuer thereof, as and when matured, to pay all amounts drawn under such Letter of Credit.

  • U.S. Obligations means securities evidencing an obligation to timely pay principal and/or interest in a full and timely manner that are (i) direct obligations of the United States of America for the payment of which its full faith and credit is pledged, and (ii) not subject to prepayment, call or early redemption.

  • DIP Obligations means “DIP Obligations” as defined in the DIP Order.

  • Unfunded Commitments means legally binding investment commitments that are tracked and recorded by the institution's financial reporting system.

  • Current Pay Obligation means a Collateral Debt Obligation that would otherwise be a Defaulted Obligation, but as to which:

  • Canadian Obligations means all Obligations of the Canadian Loan Parties.