Amount and Form a. In the case of Paragraph 2(b)(1) a single lump sum payment equal to one (1) week of pay at the Employee’s Vacation Rate of Pay for each year of Continuous Service or portion thereof.
b. In the case of Paragraph 2(b)(2) above:
(1) One (1) week of pay at the Employee’s Vacation Rate of Pay for each year of Continuous Service or portion thereof; plus
(2) Two (2) weeks of pay at the Employee’s Vacation Rate of Pay for each year of service over 15 years of Continuous Service or portion thereof.
c. The total of (1) plus (2) above may not exceed seventy-five thousand dollars ($75,000).
Amount and Form. To secure the construction and installation of the Improvements, Developer shall provide a financial guarantee in the form of a letter of credit in an amount equal to 110% of the total Improvement cost for each Phase (each, an “Improvement Guarantee”). Each Improvement Guarantee shall be evidenced by a “Performance Agreement” to be entered into between Town and Developer.
Amount and Form a. Except as otherwise provided under Paragraphs 4(b) and 4(c), an eligible Employee shall receive a single lump sum payment equal to one (1) week of pay at the Employee’s Vacation Rate of Pay for each year of Continuous Service or portion thereof, up to a maximum of eight (8) weeks.
b. An eligible Employee other than an Employee accruing service under the U.S. Steel Pension Agreement shall receive:
(1) One (1) week of pay at the Employee’s Vacation Rate of Pay for each year of Continuous Service or portion thereof; and
(2) In the case of Paragraph 2(b)(3) above, an additional two (2) weeks of pay at the Employee’s Vacation Rate of Pay for each year of service over fifteen (15) years of Continuous Service or portion thereof.
c. In the case of Paragraph 2(b)(3) above, the Severance Allowance payable to an Employee accruing service under the U.S. Steel Pension Agreement will be reduced by the amount of any Supplemental Unemployment Benefits paid for the sixty (60) days ending with the request for Severance Allowance.
d. Notwithstanding any other provision of this Agreement, any Severance Allowance payable to an Employee who is eligible for an immediate unreduced pension under the U.S. Steel Pension Agreement shall be reduced by (1) the present value of the incremental pension benefits as defined below; and (2) the value of retiree health benefits as determined in accordance with the Age Discrimination in Employment Act as amended. As used in the preceding sentence, “the present value of the incremental pension benefits” shall be understood to mean the present value of the difference between (1) the total amount of pension payable to such Employee prior to age 62; and (2) the portion of such pension not attributable to the occurrence of the contingent event of Permanent Closure. The interest rates used to determine present value shall be the PBGC rates for single life annuities in effect for the month in which Severance Allowance would otherwise be paid.
Amount and Form. To secure the construction and installation of the Improvements, Developer shall provide a letter of credit or cash in an amount equal to 115% of the total costs listed in Exhibit B (the "Improvement Guarantee"). The Improvement Guarantee may be split into two, one for the Landscape Improvements (the "Landscape Performance Guarantee"), and one for the General Improvements (the "General Performance Guarantee").
Amount and Form. Developer’s obligations under this Agreement shall be secured by a FIFTY THOUSAND DOLLARS ($50,000) cash security deposit (the “Security Deposit”), which shall be deposited into an escrow account (“Escrow”) with the Title Company (“Escrow Agent”) as follows: (i) TEN THOUSAND DOLLARS ($10,000) on execution of this Agreement; and (ii) FORTY THOUSAND DOLLARS ($40,000) within thirty (30) days of Developer’s receipt of the six (6) months’ Notice of Completion referenced in Section 3.4. Concurrently with Developer's payment of any portion of the Security Deposit into Escrow, the Parties shall execute, deliver and cause the Escrow Agent to countersign, the Escrow Agreement containing escrow instructions in substantially the form approved by both Parties. The Parties acknowledge and agree that any unapplied Security Deposit shall be credited against the security deposit required under the Ground Lease.
Amount and Form. Upon execution of this Lease, Tenant will deposit $850,000 with Landlord (such amount, as the same may be reduced in accordance with the provisions hereof, and whether in the form of cash or a letter of credit, as provided herein, is referred to as the "Security Deposit"). Landlord and Tenant intend the Security Deposit to be used solely as
(a) at the end of each of the first through the fifth Lease Years the amount of the Security Deposit will be reduced by $100,000; and (b) at the end of each of the sixth through the 10th Lease Years, the amount of the Security Deposit will be reduced by $60,000. Upon each permitted reduction in the amount of the Security Deposit, Landlord will refund to Tenant the reduction amount if the Security Deposit is then in the form of cash or will permit Tenant to reduce the amount of the letter of credit by the reduction amount if the Security Deposit is then in the form of a letter of credit. Tenant may provide the Security Deposit in the form of a letter of credit, provided that (i) the form of the letter of credit and the issuing bank are reasonably acceptable to Landlord; (ii) the letter of credit provides that Landlord may draw the entire amount thereof upon presentation of Landlord's sight draft accompanied by a certification by Landlord that an Event of Default has occurred under this Lease; and (iii) at least 30 days prior to the expiration of an existing letter of credit, Tenant will cause the same to be renewed through issuance and delivery to Landlord of a substitute letter of credit meeting the requirements hereof and issued in the amount then-required hereunder (and not in any reduced amount that may become applicable thereafter), and if Tenant fails to timely deliver such substitute, then Landlord may draw the entire amount of the existing letter of credit prior to its expiration. Upon any drawing of a letter of credit posted as the Security Deposit, the proceeds will be held and applied by Landlord pursuant to the terms hereof as if Tenant had deposited the Security Deposit in cash.
Amount and Form. To secure the construction and installation of the Improvements, JGJP shall provide a letter of credit or cash in an amount equal to 120% of the total costs listed in Exhibit C (the "Improvement Guarantee"), in a form approved by the Town.
Amount and Form. To secure the construction and installation of the Improvements, Developer shall provide a letter of credit, or cash in an amount equal to 110% of the total costs listed in Exhibit D (the "Improvement Guarantee"), in a form approved by the Town.
Amount and Form. The aggregate consideration (the "Consideration") for the acquisition of the Purchased Assets shall consist of the Purchase Price (subject to adjustment as provided herein) and the assumption of the Assumed Contracts (to the extent assigned in accordance with Article II above) and the assumption of the Assumed Liabilities. Subject to Section 8.2(b) hereof and subject to adjustment as provided in this Article III, the "Purchase Price" shall consist of, and be payable to the Company at Closing, as follows:
(a) The sum of $9,400,000 (the "Cash Consideration") shall be payable by wire transfer of immediately available funds to such account(s) as the Company may specify in writing at least two Business Days prior to the Closing Date;
(b) Purchaser shall deliver to the Company certificates registered in the name of the Company representing that number of shares of Parent Common Stock determined by dividing $10,250,000 by the Issue Price (the "Basic Shares"); and
(c) Purchaser shall deliver to the Escrow Agent (to be held pursuant to the Escrow Agreement) certificates registered in the name of the Company representing that number of shares of Parent Common Stock determined by dividing $3,750,000 by the Issue Price (the "Additional Shares").
Amount and Form. If the Executive retires or his employment otherwise ends on or after the Expiration Date for any reason (including death), he shall be entitled to a supplemental pension in an annual amount of twenty-five (25) percent of his then Salary continuing for his life (or for ten years, if longer). If the Executive retires or his employment ends prior to the Expiration Date for any reason (including death), he shall be entitled to an annual supplemental pension in the amount of twenty-five (25) percent of his then Salary continuing for his life (or for ten years, if longer); provided, that the applicable percentage shall be reduced by two (2) percentage points for each
