CMU’s Conditional Contribution Sample Clauses

CMU’s Conditional Contribution. In addition to the preceding sources and uses of Project Funds, CMU hereby agrees to fund a portion of the Public Utilities Project, in accordance with, and subject to, the following terms and conditions. A portion of the Public Utilities Project is comprised of the construction and installation of (1) a new natural gas distribution loop feed, (2) a new water well and (3) a new 16 inch water line for fire protection purposes (collectively the “CMU Participation Facilities”), which will be constructed and installed, in large part, outside of the Megasite property but which are necessary to, among other benefits, serve natural gas and fire protection water to the Megasite and its tenants/occupants. To the extent that the costs to construct such CMU Participation Facilities exceeds Two Million Eight Hundred Sixty Thousand Dollars ($2,860,000) in the aggregate, CMU shall provide to the County up to Nine Hundred Twenty Thousand Dollars ($920,000) for the sole purpose of funding those costs of the CMU Participation Facilities incurred by the County in accordance with Section 4(a)(iv) above, which exceed Two Million Eight Hundred Sixty Thousand Dollars ($2,860,000) in the aggregate. By way of example, if the aggregate costs of the CMU Participation Facilities ultimately totals Three Million Two Hundred Fifty Thousand Dollars ($3,250,000), CMU’s funding obligation would be only Three Hundred Ninety Thousand Dollars ($390,000) (i.e., $3,250,000 minus $2,860,000 = $390,000). In comparison, if the aggregate costs of the CMU Participation Facilities ultimately totals Four Million Dollars ($4,000,000), CMU funding obligation would be limited to its maximum funding obligation of Nine Hundred Twenty Thousand Dollars ($920,000) (i.e., $4,000,000 minus $2,860,000 = $1,140,000 which exceeds $920,000). In the event that CMU is obligated to provide any such additional funding for the CMU Participation Facilities in accordance with this section, such funds shall be provided from any funds of, or that are otherwise made available to, CMU, which may be utilized for such purposes under applicable laws. Further, in order to receive any such conditional funds from CMU, the County shall provide CMU with either (i) a copy of the construction contract or contracts for the engineering, construction and installation of the CMU Participation Facilities stating the final costs therefor in excess of $2,860,000, and/or (ii) copies all invoices that have been paid or which are due in payment...
Sample 1
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Related to CMU’s Conditional Contribution

  • Initial Contribution The member agrees to make an initial contribution to the Company of $____________.

  • Additional Contributions The Member is not required to make any additional capital contribution to the Company. However, the Member may at any time make additional capital contributions to the Company in cash or other property.

  • Initial Contributions The Members initially shall contribute to the Company capital as described in Schedule 2 attached to this Agreement.

  • ADDITIONAL SPECIAL CONTRACT CONDITIONS Special Contract Conditions revisions: the corresponding subsections of the Special Contract Conditions referenced below are replaced in their entirety with the following:

  • Maximum Contribution The total amount you may contribute to an IRA for any taxable year cannot exceed the lesser of 100 percent of your compensation or $6,000 for 2019 and 2020, with possible cost- of-living adjustments each year thereafter. If you also maintain a Xxxx XXX (i.e., an IRA subject to the limits of Internal Revenue Code Section (IRC Sec.) 408A), the maximum contribution to your Traditional IRAs is reduced by any contributions you make to your Xxxx IRAs. Your total annual contribution to all Traditional IRAs and Xxxx IRAs cannot exceed the lesser of the dollar amounts described above or 100 percent of your compensation.

  • Matching Contributions The Employer will make matching contributions in accordance with the formula(s) elected in Part II of this Adoption Agreement Section 3.01.

  • Additional Conditions to Obligation of the Company The obligation of the Company to effect the Merger is also subject to the following conditions:

  • Employer Contribution (a) An Employer contribution for health and dental benefits will only be made for each active employee who has at least eighty (80) paid regular hours in a month and who is eligible for medical insurance coverage, unless otherwise required by law. (b) It is understood that the administrative intent of this Article is that the Employer contribution is made for individuals who are participants in the medical insurance coverages. Participation will mean that eligible less-than-full-time employees who drop out of coverage will be considered to participate. Additionally, employees who elect to opt out of coverage for a cash incentive will be considered to participate.

  • Catch-Up Contributions In the case of a Traditional IRA Owner who is age 50 or older by the close of the taxable year, the annual cash contribution limit is increased by $1,000 for any taxable year beginning in 2006 and years thereafter.

  • Qualifying Conditions In addition to any other compensation earned, any employee who is on the payroll of the Company on any of the foregoing recognized statutory holidays will be granted eight (8) hours' pay at the straight time rate of the employee's regular job, subject to compliance with all of the conditions (a) to (f) set forth below: (a) The employee must have been on the payroll for not less than the sixty (60) days just preceding the holiday and must have previously qualified for a statutory holiday as provided in (d) below, and (b) The employee must have worked at least one (1) day during the sixty (60)- day qualifying period just preceding the holiday, and (c) The employee must have worked their scheduled work day before, and their scheduled work day after, such holiday, unless failure to work their scheduled work day before or after the holiday was due to any of the following events: (i) When the employee is on their regular authorized paid vacation; (ii) When the employee is unable to work by reason of an industrial accident as recognized by the Workers' Compensation Board or non-occupational sickness or injury; (iii) When the operation in which the employee is engaged is curtailed or discontinued by the decision of the Company and which curtailment or discontinuance changes or eliminates the employee's scheduled work day before, or their scheduled work day after, such holiday; (iv) When a trade in shifts agreed upon between employees and approved in advance by the company results in a temporary change of the scheduled work day before, or the scheduled work day after, the holiday, provided the employee works the shift agreed upon; (v) When the employee is on a leave of absence authorized by the Company. (d) The employee who has been on the payroll for at least sixty (60) days but who has not previously qualified for a statutory holiday will qualify for the holiday if he has worked a minimum of one hundred eighty (180) hours during the sixty (60)- day qualifying period just preceding the holiday and meets the requirements of (b) and (c) above. (e) Time lost as the result of an accident as recognized by the Workers' Compensation Board, suffered during the course of employment, or time lost as a result of non-occupational sickness or injury shall be considered as time worked for the purpose of qualifying for a recognized paid holiday, it being understood that the employee will only be entitled to this credit for time while on Workers' Compensation or non-occupational sickness or injury for a period of up to but not exceeding one (1) year from the date of their sickness or injury. (f) It is understood and agreed, however, that an employee shall not receive the above provided holiday pay if they have agreed to work on such holiday and fails or refuses to work, except in the case where bona fide sickness, or other bona fide reason approved by the Company, prevents them working on such holiday.

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