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.

  • 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.

  • Contribution Eligibility You are eligible to make a regular contribution to your Xxxx XXX, regardless of your age, if you have compensation and your MAGI is below the maximum threshold. Your Xxxx XXX contribution is not limited by your participation in an employer-sponsored retirement plan, other than a Traditional IRA.

  • Full Employer Contribution - Basic Eligibility Employees covered by this Agreement who are scheduled to work at least seventy-five (75) percent of the time are eligible for the full Employer Contribution. This means:

  • Pension Contributions While on Short Term Disability Contributions for OMERS Plan Members When an employee/plan member is on short-term sick leave and receiving less than 100% of regular salary, the Board will continue to deduct and remit OMERS contributions based on 100% of the employee/plan member’s regular pay.

  • 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.

  • 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.

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