Basis for Adjustment Sample Clauses

Basis for Adjustment. Extensions or reductions to the Contract Time may be provided by Construction Order, however, such extensions or reductions will be allowed only to the extent that the increase or decrease in the Work or delays of the types indicated below affect the Critical Path of the current approved Progress Schedule update and the Completion of the Work and/or Substantial Completion Dates provided in Subsection 1. acts of civil or military authorities, terrorism, war, or riot; 2. fire; 3. floods, tidal waves, earthquakes, cyclones, tornadoes, hurricanes, sustained severe winds exceeding 75 mph, or other cataclysmic natural phenomenon (except on working day contracts); 4. Extreme Weather Conditions (subject to Item 1 of subpart B) (except on working day contracts); 5. epidemics or quarantine restrictions; 6. strikes or labor disputes beyond the control of the Contractor that prevent work on the construction operations that are critical to the completion of the Project; 7. shortages of materials (subject to Item 2 of subpart B) or freight embargoes; 8. acts of the State in its sovereign capacity; 9. court orders or injunctions; 10. discovery of Regulated Hazardous Waste; 11. acts by others consistent with Subsections 105.10 and 107.09; 12. failure of the Engineer to furnish interpretations of the Contract Documents (subject to Item 3 of subpart B). Unless specifically provided for in the Specifications or where the delay is caused by the negligence, bad faith, active interference, or other tortuous conduct of the Department or its employees, the Contractor shall not make any claim for damages or Additional Compensation for any delay, and agrees that any such delay shall be fully compensated for by an extension of Contract Time if granted. In such a case where the delay is shown by the Contractor to have been caused by such tortuous conduct of the Department or its employees, the Contractor's remedy for Additional Compensation shall be as specified in Subsection 109.04. Negligence of consultants, other contractors, Utility(s), other public entities or any other person or entity, shall not be imputed to the Department. The Contractor shall not be entitled to Additional Compensation or an extension of Contract Time for any delay contemplated or that which should have been contemplated by the Contractor at the time the Contract was awarded. Extensions of Contract Time will not be granted due to delays caused by, or in any way related to, the financial condition of the Cont...
Sample 1
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Basis for Adjustment. ✓ Routine baseline adjustments a. A linear regression model will be used to adjust the baseline to reflect actual weather conditions. An equation, y = m*x +b, is derived for the main natural gas account consumption as shown on the following page. The R2 value is close to 1 (>0.75), thus indicating a strong correlation between the weather and gas consumption. ✓ Non-routine baseline adjustments a. Procedure to calculate any changes in items 3a-3f as indicated above. Either agreed engineering calculations or appropriate building energy simulations. Slope Constant R2 m Baseline Values in Contract b
Sample 1
Basis for Adjustment. The amount of the Purchase Price shall be -------------------- reduced at Closing by the amount, if any, by which the Net Worth of the Company on the Closing Date is less than the sum of $4,747,436.00, as determined in accordance with the procedures hereinafter set forth. In the event of any reduction in the Purchase Price pursuant to this Section, the amount of the reduction shall be applied to reduce the amount of the Buyer Note and the cash payment at Closing on a proportionate basis.
Sample 1
Basis for Adjustment. The Cash Purchase Price shall be increased by the amount, if any, by which the Purchased Assets, as shown on the Closing Report, less the Assumed Liabilities, as shown on the Closing Report, (such difference being the "Net Assets") is greater than $47,389,141 and decreased by the amount, if any, by which Net Assets is less than $47,389,141.
Sample 1
Basis for Adjustment. The Cash Purchase Price shall adjusted according to the following procedures: (i) In the event that the amount of the Purchased Assets, as shown on the Closing Report, less the amount of the Assumed Liabilities, as shown on the Closing Report (such difference being the "Net Assets"), is less than Two Million Three Hundred Thirty Four Thousand Eighteen Dollars ($2,334,018) (the "Target Net Assets"), the Cash Purchase Price shall be decreased by the same amount. (ii) In the event that the Net Assets is greater than the Target Net Assets and the dollar amount of the backlog of Seller's customer orders as shown on the Closing Report (the "Closing Backlog") is greater than or equal to eighty eight (88) units and Seven Hundred Eighty Five Thousand Dollars ($785,000) (the "Target Backlog"), the Cash Purchase Price shall be increased by the same amount as the difference between the Net Assets and the Target Net Assets. (iii) In the event that the Net Assets is greater than the Target Net Assets and the Closing Backlog is less than the Target Backlog, the Cash Purchase Price shall be increased by the positive difference, if any of (a) the excess of the Net Assets over the Target Net Assets, minus (b) the excess of the Target Backlog over the Closing Backlog.
Sample 1

Related to Basis for Adjustment

  • CPI Adjustment At the end of the first Lease year (as hereinafter defined) and every Lease year thereafter (including any renewal periods) the Base Rental provided for in Paragraph 3 above shall be adjusted by adding to Base Rental the "Add-on Factor". The one (1) year periods are each hereinafter referred to as an "Adjustment Period". As used herein, the "Add- on Factor" shall mean the "Add-on Sum" minus "Net Base Rental"; "Add-on Sum" shall mean a sum determined by multiplying the "Net Base Rental" by the "Adjustment Factor"; "Net Base Rental" shall mean the Base Rental described above minus Initial Basic Cost, and "Adjustment Factor" shall mean a fraction, the numerator of which is the "CPI" published immediately preceding the applicable anniversary date and the denominator of which is the "CPI" published immediately preceding the commencement date of the term of this Lease. "CPI" shall mean the United States Average (1982-84 '" 100), as published bi-monthly (or if the same shall no longer be published bi-monthly, on the most frequent basis available) by the Bureau of Labor Statistics, U.S. Department of Labor (but if such is subject to adjustment later, the later adjusted index shall be used). The Adjusted Rental shall be the new Base Rental of the Premises effective as of the first day of the applicable Adjustment Period. Notwithstanding the foregoing calculation, the yearly percentage rent adjustment pursuant to this Paragraph 9 shall in no event be less than FIVE percent (5%) per year. Tenant shall continue payment of the Base Rental in effect for the expiring Adjustment Period until notified by Landlord of any increase in such Base Rental. Such notification shall include a memorandum showing the calculations used by Landlord in determining the new Base Rental. On the first day of the calendar month immediately succeeding receipt of such notice, Tenant shall commence payment of the new Base Rental spedfied in the notice, and shall also pay to Landlord with respect to the month(s) already expired, the excess of the required monthly rentals spedfied in the notice over the monthly amounts actually paid by Tenant.

  • Year-End Adjustment If necessary, on or before the last day of the first month of each fiscal year, an adjustment payment shall be made by the appropriate party in order that the amount of the investment advisory fees waived or reduced and other payments remitted by the Adviser to the Fund or Funds with respect to the previous fiscal year shall equal the Excess Amount.

  • Tax Adjustment Tenant shall pay, as Additional Charges, an amount (hereinafter referred to as the “Tax Adjustment Amount”) equal to Tenant’s Expense Share of the amount of Taxes incurred with respect to each Lease Year; except that Tenant shall be required to pay only a pro rata amount of the Tax Adjustment Amount for the Lease Years in which the first and last days of the Term occur pro rated on a per diem basis. Tenant shall not, however, have any right to audit Landlord’s books and records pertaining to Taxes. The Tax Adjustment Amount with respect to each Lease Year shall be paid in monthly installments in advance on the first day of each and every calendar month during such Lease Year, commencing on the Commencement Date, in an amount estimated from time to time by Landlord and communicated by written notice to Tenant. Following receipt of actual tax bills, Landlord shall deliver to Tenant a statement setting forth (i) the actual Tax Adjustment Amount for such Lease Year; (ii) the total of the estimated monthly installments of the Tax Adjustment Amount paid to Landlord for such Lease Year; and (iii) the amount of any excess or deficiency with respect to such Lease Year. Tenant shall pay any deficiency to Landlord as shown by such statement within 30 days after receipt of such statement. If the total of the estimated monthly installments paid by Tenant during any Lease Year exceeds the actual Tax Adjustment Amount due from Tenant for such Lease Year, at Landlord’s option such excess shall be either credited against payments next due hereunder or refunded by Landlord, provided Tenant is not then in default hereunder.

  • Tax Adjustments The Company may make such reductions in the Purchase Price, in addition to those required by Sections 3, 4, 5, 6, 7 and 8, as the Board of Directors considers to be advisable to avoid or diminish any income tax to holders of Common Stock or rights to purchase Common Stock resulting from any dividend or distribution of stock (or rights to acquire stock) or from any event treated as such for income tax purposes.

  • 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:

  • ECONOMIC ADJUSTMENT Exhibit B – Prices for Goods/Services is hereby amended by deleting the existing Exhibit B in its entirety and inserting the attached Exhibit B – Prices for Services to increase by 5.1% from the previous set price.

  • Contract Term Adjustment “Contract Term Adjustment” means adjustment only as provided for in the three circumstances described in this Subsection. Under these circumstances, the contract term shall be adjusted in writing to include additional calendar days in one or more Normal Operating Seasons equal to the actual time lost, except as limited by paragraph (b) in this Subsection.

  • Section 754 Adjustment To the extent an adjustment to the adjusted tax basis of any Partnership asset pursuant to Code Section 734(b) or Code Section 743(b) is required, pursuant to Regulations Section 1.704-1(b)(2)(iv)(m)(2) or Regulations Section 1.704-1(b)(2)(iv)(m)(4), to be taken into account in determining Capital Accounts as the result of a distribution to a Holder in complete liquidation of his interest in the Partnership, the amount of such adjustment to the Capital Accounts shall be treated as an item of gain (if the adjustment increases the basis of the asset) or loss (if the adjustment decreases such basis) and such gain or loss shall be specially allocated to the Holders in accordance with their interests in the Partnership in the event that Regulations Section 1.704-1(b)(2)(iv)(m)(2) applies, or to the Holders to whom such distribution was made in the event that Regulations Section 1.704-1(b)(2)(iv)(m)(4) applies.

  • Market Adjustment The parties to this Agreement recognize the appropriateness of market pay adjustments in rare instances for compelling reasons. To effectuate judgments in such cases, the President and AAUP Chapter President, in consultation, shall each name three (3) individuals to a university Market Evaluation Committee. Deans may submit recommendations for market pay adjustments with supporting written reasons to the Committee. Said Committee shall consult with the President concerning proposed market pay adjustments reporting its advice not later than May 15 in each year. Upon the favorable recommendation of the President and the BOR President, market pay adjustments may be approved effective at the beginning of that pay period including September 1 of the following year. Not more than one (1) market pay adjustment per one hundred (100) full-time members, or fraction thereof, may be recommended in any contract year. A member’s salary may not be increased beyond the maximum for the rank. Funding for this program shall be governed by Article 12.10.2.

  • Minimum Adjustment The adjustments required by the preceding sections of this Article IV shall be made whenever and as often as any specified event requiring an adjustment shall occur, except that no adjustment of the Exercise Price or the number of shares of Common Stock issuable upon exercise of the Warrants that would otherwise be required shall be made unless and until such adjustment either by itself or with other adjustments not previously made increases or decreases by at least 1% the Exercise Price or the number of shares of Common Stock issuable upon exercise of the Warrants immediately prior to the making of such adjustment. Any adjustment representing a change of less than such minimum amount shall be carried forward and made as soon as such adjustment, together with other adjustments required by this Article IV and not previously made, would result in a minimum adjustment. For the purpose of any adjustment, any specified event shall be deemed to have occurred at the close of business on the date of its occurrence. In computing adjustments under this Article IV, fractional interests in Common Stock shall be taken into account to the nearest one-hundredth of a share.

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