Calculation of Penalty Sample Clauses

Calculation of Penalty a. The Penalty shall be calculated in the manner as specified in Schedule X; b. The Authority may impose all applicable Penalty until compliance, if according to the nature of the infraction its restoration or compliance is possible; c. For the purpose of imposing Penalty referred to above, quantification of applicable Penalty shall be as per category of infraction viz ‘A’, ‘B’, ‘C’; d. The maximum amount of Penalty on account of infractions shall not exceed 30X per Bus per day. If the Penalty on account of infractions exceeds 30X, then the Bus may be taken out of Bus Service on written directions of the Authority. Further, the maximum average number of infractions per Bus per month shall not be more than 600X and 3500X per Bus bi-annually. In case of multiple infractions under one head, each infraction shall be considered separately; e. If the maximum amount of Penalty on account of infractions per Bus exceeds 1200X on an average for the immediately preceding 2 (two) months then the Contract may be liable to be terminated in accordance with provisions of Article 22.
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Calculation of Penalty. The total possible penalty for failure to perform is (a) Failure to meet all of the standards in a section will result in imposition of the entire weighted percentage of the penalty for that section. For example, failure to meet all of the standards in the Agent Training section of the SPM will result in imposition of 25% of the penalty, or $2,500,000 (Two Million, Five-Hundred Thousand Dollars). The penalty will not be reduced even if some of the standards in the applicable section of the SPM are met. If all standards in the section are met, none of the penalty assigned to that section will be imposed. If one or more standards are not met, all of the penalty assigned to that section will be imposed. (b) The Monitoring Regulators will add all weighted percentages of penalty for each section of the SPM, if any, that has not been fully met. This sum will be the total penalty for failure to perform to be imposed. This sum will be payable to the Signatory Regulators by the Companies within 30 days after notification that the penalty for failure to perform is to be imposed.
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Calculation of Penalty. The total possible penalty for failure to perform is $10,000,000 (Ten Million Dollars). The amount of the total possible penalty that is to be imposed will be calculated by the Monitoring Regulators based on the following table. Each section of the SPM has been assigned a weighted percentage of the total possible penalty that may be imposed for failure to meet the standards of that section. The weighted percentages are as follows: Weighted Percentage of Required Action Penalty Agent Training 25 % Agent Oversight 25 % Claims Handling 8 % Claims Procedures Manual 8 % Identification of Company 2 % Transparent Relationships with Associations 10 % Complaints And Grievances 10 % Cancellation, Non — Renewal And Discontinuance Notices 2 % Compliance Program 4 % Separate Financial Information For PDA & SDA 2 % Accounting Support for Treatment of Agents’ Stock Benefit Match 2 % Providing Requested Copy of Outside Consulting Report 1 % Report to Regulators Outlining All Changes 1 % IN THE MATTER OF THE MARKET CONDUCT EXAMINATION OF THE MEGA LIFE AND HEALTH INSURANCE COMPANY, MID-WEST NATIONAL LIFE INSURANCE COMPANY OF TENNESSEE, AND THE CHESAPEAKE LIFE INSURANCE COMPANY REGULATORY SETTLEMENT AGREEMENT (a) Failure to meet all of the standards in a section will result in imposition of the entire weighted percentage of the penalty for that section. For example, failure to meet all of the standards in the Agent Training section of the SPM will result in imposition of 25% of the penalty, or $2,500,000 (Two Million, Five-Hundred Thousand Dollars). The penalty will not be reduced even if some of the standards in the applicable section of the SPM are met. If all standards in the section are met, none of the penalty assigned to that section will be imposed. If one or more standards are not met, all of the penalty assigned to that section will be imposed. (b) The Monitoring Regulators will add all weighted percentages of penalty for each section of the SPM, if any, that has not been fully met. This sum will be the total penalty for failure to perform to be imposed. This sum will be payable to the Signatory Regulators by the Companies within 30 days after notification that the penalty for failure to perform is to be imposed.
Sample 1
Calculation of Penalty a. The Penalty shall be calculated in the manner as specified in Schedule X; b. The Authority may impose all applicable Penalty until compliance, if according to the nature of the infraction its restoration or compliance is possible; c. For the purpose of imposing Penalty referred to above, quantification of applicable Penalty shall be as per category of infraction viz ‘A’, ‘B’, ‘C’;
Sample 1
Calculation of Penalty. If any Employee is unable to commence a meal period end of the sixth (6th) hour of work. the Employee shall be paid a meal penalty as per the following until such time as the meal period is forthcoming:
Sample 1

Related to Calculation of Penalty

  • Computation of Periods If the date to perform any act or give any notice specified in the Contract Documents (including the last date for performance or provision of notice “within” a specified time period) falls on a non-Business Day, such act or notice may be timely performed on the next succeeding day which is a Business Day. Notwithstanding the foregoing, requirements contained in the Contract Documents relating to actions to be taken in the event of an emergency and other requirements for which it is clear that performance is intended to occur on a non-Business Day, shall be required to be performed as specified, even though the date in question may fall on a non-Business Day.

  • Basis for calculation of periodic payments All interest and commitment fee and any other payments under any Finance Document which are of an annual or periodic nature shall accrue from day to day and shall be calculated on the basis of the actual number of days elapsed and a 360 day year.

  • Calculation of Fees Ameriprise will have sole responsibility, and Ameriprise’s records will provide the sole basis, for calculating fees for which Ameriprise invoices under this Agreement. However, the Issuer Entities may provide records to assist Ameriprise in its calculations.

  • Calculation of Payments The State shall use the fee schedule set forth in Attachment E to the contract (Fee Schedule) in determining the value of the work performed up to the time of termination. In the case of partially completed engineering services, eligible costs will be calculated as set forth in Attachment E, Fee Schedule. The sum of the provisional overhead percentage rate for payroll additives and for general and administrative overhead costs during the years in which work was performed shall be used to calculate partial payments. Any portion of the fixed fee not previously paid in the partial payments shall not be included in the final payment.

  • Calculation of Overtime If the overtime work has been carried out before as well as after the regular working hours during a certain day, the overtime periods shall be added together. Only full half hours are included in the calculation.

  • Accounting Terms; Utilization of GAAP for Purposes of Calculations Under Agreement Except as otherwise expressly provided in this Agreement, all accounting terms not otherwise defined herein shall have the meanings assigned to them in conformity with GAAP. Financial statements and other information required to be delivered by Company to Lenders pursuant to clauses (ii), (iii) and (xii) of subsection 6.1 shall be prepared in accordance with GAAP as in effect at the time of such preparation (and delivered together with the reconciliation statements provided for in subsection 6.1(v)). Calculations in connection with the definitions, covenants and other provisions of this Agreement shall utilize GAAP as in effect on the date of determination, applied in a manner consistent with that used in preparing the financial statements referred to in subsection 5.3. If at any time any change in GAAP would affect the computation of any financial ratio or requirement set forth in any Loan Document, and Company, Administrative Agent or Requisite Lenders shall so request, Administrative Agent, Lenders and Company shall negotiate in good faith to amend such ratio or requirement to preserve the original intent thereof in light of such change in GAAP (subject to the approval of Requisite Lenders), provided that, until so amended, such ratio or requirement shall continue to be computed in accordance with GAAP prior to such change therein and Company shall provide to Administrative Agent and Lenders reconciliation statements provided for in subsection 6.1(v).

  • Suspension of Performance Disbursement Into Court If at any time, there shall exist any dispute between the Company and the Investor(s) with respect to holding or disposition of any portion of the Escrow Funds or any other obligations of Escrow Agent hereunder, or if at any time Escrow Agent is unable to determine, to Escrow Agent's sole satisfaction, the proper disposition of any portion of the Escrow Funds or Escrow Agent's proper actions with respect to its obligations hereunder, or if the parties have not within thirty (30) days of the furnishing by Escrow Agent of a notice of resignation pursuant to Section 9 hereof, appointed a successor Escrow Agent to act hereunder, then Escrow Agent may, in its sole discretion, take either or both of the following actions: a. suspend the performance of any of its obligations (including without limitation any disbursement obligations) under this Escrow Agreement until such dispute or uncertainty shall be resolved to the sole satisfaction of Escrow Agent or until a successor Escrow Agent shall be appointed (as the case may be); provided however, Escrow Agent shall continue to invest the Escrow Funds in accordance with Section 8 hereof; and/or b. petition (by means of an interpleader action or any other appropriate method) any court of competent jurisdiction in any venue convenient to Escrow Agent, for instructions with respect to such dispute or uncertainty, and to the extent required by law, pay into such court, for holding and disposition in accordance with the instructions of such court, all funds held by it in the Escrow Funds, after deduction and payment to Escrow Agent of all fees and expenses (including court costs and attorneys' fees) payable to, incurred by, or expected to be incurred by Escrow Agent in connection with performance of its duties and the exercise of its rights hereunder. c. Escrow Agent shall have no liability to the Company, the Investor(s), or any person with respect to any such suspension of performance or disbursement into court, specifically including any liability or claimed liability that may arise, or be alleged to have arisen, out of or as a result of any delay in the disbursement of funds held in the Escrow Funds or any delay in with respect to any other action required or requested of Escrow Agent.

  • Calculation of Amounts Binding Effect of Interpretations and Actions of Master Servicer...............................

  • Definitions and Interpretation 1.1 In this Agreement:

  • Calculation of Adjustments All adjustments to the Settlement Rate shall be calculated to the nearest 1/10,000th of a share of Common Stock (or if there is not a nearest 1/10,000th of a share to the next lower 1/10,000th of a share). No adjustment in the Settlement Rate shall be required unless such adjustment would require an increase or decrease of at least one percent therein; provided, that any adjustments which by reason of this subparagraph are not required to be made shall be carried forward and taken into account in any subsequent adjustment. If an adjustment is made to the Settlement Rate pursuant to paragraph (1), (2), (3), (4), (5), (6), (7) or (10) of this Section 5.6(a), an adjustment shall also be made to the Applicable Market Value solely to determine which of clauses (i), (ii) or (iii) of the definition of Settlement Rate in Section 5.1(a) will apply on the Stock Purchase Date. Such adjustment shall be made by multiplying the Applicable Market Value by a fraction, the numerator of which shall be the Settlement Rate immediately after such adjustment pursuant to paragraph (1), (2), (3), (4), (5), (6), (7) or (10) of this Section 5.6(a) and the denominator of which shall be the Settlement Rate immediately before such adjustment; provided, that if such adjustment to the Settlement Rate is required to be made pursuant to the occurrence of any of the events contemplated by paragraph (1), (2), (3), (4), (5), (7) or (10) of this Section 5.6(a) during the period taken into consideration for determining the Applicable Market Value, appropriate and customary adjustments shall be made to the Settlement Rate.

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