Alternative Adjustment Clause Samples

The Alternative Adjustment clause establishes a mechanism for modifying contractual terms or obligations in response to specific events or changes in circumstances. Typically, this clause outlines the conditions under which adjustments can be made, such as fluctuations in market rates, regulatory changes, or unforeseen disruptions, and specifies the process for determining and implementing the new terms. Its core practical function is to provide flexibility and ensure fairness by allowing the contract to adapt to changing conditions, thereby reducing the risk of disputes or inequitable outcomes.
Alternative Adjustment. In lieu of applying the old compensation fraction or new compensation fraction described in section 5.9(l), if the Employer elects, a Participant's adjusted Accrued Benefit will be determined by substituting the Participant's Compensation (as defined in section of the Plan) for the current Plan Year determined under the same Compensation formula and underlying definition of Compensation used to determine the Frozen Accrued Benefit of each Participant in the Fresh-Start group. If elected by the Employer in the Adoption Agreement, the Frozen Accrued Benefit of each section 401(a)(17) Participant in the Fresh-Start group will be adjusted in accordance with the following method: Section 401(A)(17) Participants Who Are OBRA '93 Section 401(A)(17) Participants Only: (1) Determine the Frozen Accrued Benefit of each OBRA '93 section 401(a)(17) Participant as of the last day of the Plan Year beginning before January 1, 1994. (2) Adjust the amount in step 1 by multiplying it by the following fraction (not less than 1). The numerator of the fraction is the average compensation of the OBRA '93 section 401(a)(17) employee determined for the current year (as limited by section 401(a)(17)), using the same definition and Compensation formula in effect as of the last day of the last Plan Year beginning before January 1, 1994. The denominator of the fraction is the Participant's Average Compensation for the last day of the last Plan Year beginning before January 1, 1994. Using the definition and Compensation formula in effect as of the last day of the last Plan Year beginning before January 1, 1994. Section 401(A)(17) Participants Who Are Both TRA '86 Section 401(A)(17) Participants and OBRA '93 Section 401(A)(17) Participants: (1) Determine each TRA '86 section 401(a)(17) Participant's Frozen Accrued Benefit as of the last day of the last Plan Year beginning before January 1, 1989. (2) Adjust the amount in step 1 up through the last day of the last Plan Year beginning before the first Plan Year beginning on or after January 1, 1994, by multiplying it by the following fraction (not less than 1). The numerator of the fraction is the TRA '86 section 401(a)
View SourceView Similar (10)
Alternative Adjustment. If the Board of RTL and the Board of RTP agree that an adjustment in accordance with paragraph 5.1.1 or 5.1.2 would be inequitable as between the holders of RTL Ordinary Shares and the holders of RTP Ordinary Shares, then they may calculate the adjustment on some other basis which they agree to be appropriate. In these circumstances the calculation shall be referred to the auditors of RTL and the auditors of RTP for them jointly to certify that the adjustment so calculated means that the relevant offer does not materially disadvantage a holder of a RTL Ordinary Share in comparison with a holder of an RTP Ordinary Share and vice versa. In making such certification the auditors of RTL and the auditors of RTP shall act as experts and not as arbitrators and their certificate shall be final and binding on the parties and on all others affected thereby.
View SourceView Similar (4)
Alternative Adjustment. If the Consumer Price Index is suspended or discontinued, or if there is a major change in those items by reference to which that index is calculated, then the basis for adjustment of our fee will change to that sum determined by an independent actuary, or econometrician (acting as an expert) who is instructed by the Advisory Board, so as to be increased at a rate equal to the rate of economic inflation in Perth. The costs of any determination are paid by us but are recoverable as an expense under Clause 8.1.
View Source
Alternative Adjustment. Notwithstanding the foregoing, if at the time that the Final Closing Date Balance Sheet is finalized pursuant to Section 2.10, the Notes have been repaid in an amount or amounts such that an Adjustment Escrow Amount has been established pursuant to Section 2.9(e)(ii), then an amount equal to the decrease reflected by the Adjustment Amount shall first be paid to Parent from the Adjustment Escrow Amount and to the extent there is a shortfall in sufficient funds therein, then from the Escrow Amount (except for the portion allocable to Non-Accredited Stockholders) pursuant to the Escrow Agreement.
View Source

Related to Alternative Adjustment

  • Successive Adjustments After an adjustment to the Conversion Rate under this Article 10, any subsequent event requiring an adjustment under this Article 10 shall cause an adjustment to the Conversion Rate as so adjusted.

  • Fee Adjustments The fixed fees and other fees expressed as stated dollar amounts in this Schedule C and in this Agreement are subject to annual increases, commencing on the one-year anniversary date of the date of this Agreement, in an amount equal to the percentage increase in consumer prices for services as measured by the United States Consumer Price Index entitled “All Services Less Rent of Shelter,” or a similar index should such index no longer be published, since such one-year anniversary or since the date of the last fee increase, as applicable.

  • True-Up Adjustments From time to time, until the Retirement of the Recovery Bonds, the Servicer shall identify the need for True-Up Adjustments and shall take all reasonable action to obtain and implement such True-Up Adjustments, all in accordance with the following:

  • Non pre-priced Adjustment Factor To be applied to Work determined not to be included in the CTC but within the general scope of the work: 1.1500.

  • Purchase Price Credit Adjustments If on any day: (a) the Outstanding Balance of a Receivable purchased from any Originator is: (i) reduced as a result of any defective or rejected or returned goods or services, any cash discounts, any volume discounts or any adjustment or otherwise by such Originator or any Affiliate thereof (other than as a result of a charge-off of such Receivable or cash Collections applied to such Receivable), (ii) reduced or canceled as a result of a setoff in respect of any claim by any Person (whether such claim arises out of the same or a related transaction or an unrelated transaction), (iii) reduced on account of the obligation of such Originator or any Affiliate thereof to pay to the related Obligor any rebate or refund, or (iv) less on the date of its sale then the amount reflected in the applicable Purchase Report, or (b) any of the representations and warranties set forth in Sections 2.1(i), (j), (l), (r), (s), (t), (u) and the second sentence of Section 2.1(q) hereof is not true when made or deemed made with respect to any such Receivable, then, in such event, Buyer shall be entitled to a credit (each, a “Purchase Price Credit”) against the Purchase Price otherwise payable to the applicable Originator hereunder equal to (x) in the case of clauses (a)(i) – (iv) above, the amount of such reduction or cancellation or the difference between the actual Outstanding Balance and the amount reflected in the applicable Purchase Report, as applicable, and (y) in the case of clause (b) above, the amount of the Outstanding Balance of such Receivable, which shall be reconveyed by the Buyer to the applicable Originator following receipt of such amount. If such Purchase Price Credit exceeds the Original Balance of the Receivables originated by the applicable Originator on any day, such Originator shall pay the remaining amount of such Purchase Price Credit in cash immediately, provided that if the applicable Termination Date has not occurred, such Originator shall be allowed to deduct the remaining amount of such Purchase Price Credit from any indebtedness owed to it under its Subordinated Note.