Average of Annual Operating Fund Contributions of Parties for Previous Five Fiscal Years Sample Clauses

Average of Annual Operating Fund Contributions of Parties for Previous Five Fiscal Years. If the Term of the Regional Library and this Agreement ends pursuant to paragraph 11 of this Agreement, then the Annual Operating Contributions made by each of the Constituent Library Districts to the Regional Library’s Annual Operating Income for each of the last five (5) Fiscal Years which expired on and prior to the last day of the Term of this Agreement shall be determined, and such total amount of the Annual Operating Income Contributions for each Constituent Library District for such five (5) year period shall be divided by the numeral “5”, thereby obtaining the Average of each Constituent Library District’s Annual Operating Income Contribution to the Regional Library’s Annual Operating Income over such five (5) Fiscal Year period. The resulting amount determined by such five (5) Fiscal Year averaging shall be totaled for the Constituent Library Districts. Each individual Constituent Library District’s “Pro Rata Share” shall then be determined by dividing such Constituent Library District’s five year Average Annual Operating Contribution to the Regional Library’s total Annual Operating Income by the total of the five year Averages of the Annual Operating Income Contributions of both the Constituent Library Districts to the Regional Library’s Annual Operating Income. For example, if the Columbia and Xxxxx County Library District’s five year Average Annual Operating Income Contribution is $6,000,000, and the total of the five year Average Annual Operating Income Contributions by the Constituent Library Districts for such period is $10,000,000, the Columbia and Xxxxx County Library District’s “Pro Rata Share” would be 60%.
Sample 1
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Related to Average of Annual Operating Fund Contributions of Parties for Previous Five Fiscal Years

  • End of Fiscal Years; Fiscal Quarters The Borrower will cause (i) its and each of its Domestic Subsidiaries’ fiscal years to end on December 31 of each calendar year and (ii) its and each of its Domestic Subsidiaries’ fiscal quarters to end on March 31, June 30, September 30 and December 31 of each calendar year.

  • Average Annual Compensation The Executive's "Average Annual Compensation" for purposes of this Agreement shall be deemed to mean the average level of compensation paid to the Executive by the Employers or any subsidiary thereof during the most recent five taxable years preceding the Date of Termination, including Base Salary and benefits and bonuses under any employee benefit plans of the Employers.

  • Carry Forward to a Subsequent Year If you do not withdraw the excess contribution, you may carry forward the contribution for a subsequent tax year. To do so, you under-contribute for that tax year and carry the excess contribution amount forward to that year on your tax return. The six percent excess contribution penalty tax will be imposed on the excess amount for each year that it remains as an excess contribution at the end of the year. You must file IRS Form 5329 along with your income tax return to report and remit any additional taxes to the IRS.

  • Compensation for Holidays Falling Within Vacation Schedule If a paid holiday falls on or is observed during an Employee's vacation period, she shall be allowed an additional vacation day with pay at a time mutually agreed upon by the Employer and the Employee.

  • Adjustment of Minimum Quarterly Distribution and Target Distribution Levels (a) The Minimum Quarterly Distribution, First Target Distribution, Second Target Distribution, Third Target Distribution, Common Unit Arrearages and Cumulative Common Unit Arrearages shall be proportionately adjusted in the event of any distribution, combination or subdivision (whether effected by a distribution payable in Units or otherwise) of Units or other Partnership Securities in accordance with Section 5.10. In the event of a distribution of Available Cash that is deemed to be from Capital Surplus, the then applicable Minimum Quarterly Distribution, First Target Distribution, Second Target Distribution and Third Target Distribution, shall be adjusted proportionately downward to equal the product obtained by multiplying the otherwise applicable Minimum Quarterly Distribution, First Target Distribution, Second Target Distribution and Third Target Distribution, as the case may be, by a fraction of which the numerator is the Unrecovered Capital of the Common Units immediately after giving effect to such distribution and of which the denominator is the Unrecovered Capital of the Common Units immediately prior to giving effect to such distribution. (b) The Minimum Quarterly Distribution, First Target Distribution, Second Target Distribution and Third Target Distribution, shall also be subject to adjustment pursuant to Section 6.9.

  • Annual Accounting Period The annual accounting period of the Company shall be its taxable year. The Company’s taxable year shall be selected by the Member, subject to the requirements and limitations of the Code.

  • Fiscal Periods Change its fiscal year-end to a date other than December 31, or its fiscal quarters to a date other than March 31, June 30, September 30 and December 31.

  • Calendar Year Calendar Year" for the purposes of this Agreement shall mean the twelve (12) month period from January 1st to December 31st, inclusive.

  • Plan Year The year for the purposes of the plan shall be from September 1 of one year, to August 31, of the following year, or such other years as the parties may agree to.

  • Share Class Annual Compensation Rate Class R-1 1.00% Class R-2 0.75% Class R-2E 0.60% Class R-3 0.50% Class R-4 0.25% Class R-5 No compensation paid Class R-5E No compensation paid Class R-6 No compensation paid If you hold Plan accounts in an omnibus account (i.e., multiple Plans in one account on the books of the Funds), Plans that are added to the omnibus account after May 15, 2002 may invest only in R shares, and you must execute an Omnibus Addendum to the Selling Group Agreement, which you can obtain by calling our Home Office Service Team at 800/421-5475, extension 8.

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