Compensation for monetary loss Sample Clauses

Compensation for monetary loss. The Authority and the Concessionaire acknowledge that if the Concessionaire suffers monetary loss in the event of lane closure/ traffic diversion on account of Capacity Augmentation the Authority may, in its discretion and at its own cost, undertake traffic sampling, in accordance with Schedule-J hereto, during the period of such lane closure/ traffic diversion and a second survey, post opening of the lanes/ removal of traffic diversion, in order to determine the actual traffic on the Project Highway. For the avoidance of doubt, the compensation in the case of monetary loss shall be determined by the Authority based on the results of the abovementioned traffic surveys. It is hereby agreed between the Parties that the Concessionaire shall only be entitled to any compensation under this Clause and the Authority shall only be obliged to pay compensation hereunder in case it is determined by the Authority that the monetary loss suffered by the Concessionaire in the event of such lane closure/ traffic diversion on account of Capacity Augmentation is greater than 20% (twenty percent) thereof. In the event of any Dispute between the Parties under Clause 14.1, the Dispute Resolution Procedure shall apply. Notwithstanding to anything contrary present in the Agreement, during the period of Capacity Augmentation, if the Concessionaire incurs any financial loss due to modification in toll rates for the Project Highway, the Concessionaire may by notice require the Authority to pay an amount that would place the Concessionaire in the same financial position that it would have enjoyed had there been no reduction in toll rates due to Capacity Augmentation. The Authority shall pay the amount specified therein to the Concessionaire on a quarterly basis. For the avoidance of doubt, it is clarified that compensation will be limited to reduction in toll rates and shall not include any loss due to reduction in traffic. The amount of compensation shall be calculate using the following formula: A*(B-C) where A= Traffic calculated as per Article 19 B= Existing toll rate before the beginning of Capacity Augmentation C= Reduced toll rate at the time of Capacity Augmentation Financial gains or loss due to Capacity Augmentation Notwithstanding anything to the contrary present in the Agreement, during the period of Capacity Augmentation or thereafter; if the Equivalent Tollable Length of the Project Highway increases, the increased revenue realised by the Concessionaire shall be paid t...
Sample 1
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Compensation for monetary loss. 14.2.1 The Authority and the Concessionaire acknowledge that if the Concessionaire suffers monetary loss in the event of lane closure/ traffic diversion on account of Capacity Augmentation the Authority may, in its discretion and at its own cost, undertake traffic sampling, in accordance with Schedule-O hereto during the period of such lane closure/ traffic diversion and a second survey, post opening of the lanes/ removal of traffic diversion, in order to determine the actual traffic on the Project Highway. For the avoidance of doubt, the compensation in the case of monetary loss shall be determined by the Authority based on the results of the abovementioned traffic surveys. It is hereby agreed between the Parties that the Concessionaire shall only be entitled to any compensation under this Clause and the Authority shall only be obliged to pay compensation hereunder, in case it is determined by the Authority that the monetary loss suffered by the Concessionaire in the event of such lane closure/ traffic diversion on account of Capacity Augmentation is greater than 20% (twenty percent) thereof.
Sample 1
Compensation for monetary loss. The Authority and the Concessionaire acknowledge that if the Concessionaire suffer monetary loss in the event of lane closure/ traffic diversion on account of Capacity Augmentation the Authority may, in its discretion and at its own cost, undertake traffic sampling, in accordance with Schedule-J hereto, during the period of such lane closure/ traffic diversion and a second survey, post opening of the lanes/ removal of traffic diversion and a second survey, post opening of the lanes/ removal of traffic diversion, in order to determine the actual traffic on the Project Highway. For the avoidance of doubt, the compensation in the case of monetary loss shall be determined by the Authority based on the results of the above mentioned traffic surveys. It is hereby agreed between the Parties that the Concessionaire shall only be entitled to any compensation under this Clause and the Authority shall only be obliged to pay compensation hereunder, in case it is determined by the Authority that the monetary loss suffered by the Concessionaire in the event of such lane closure/ traffic diversion on account of Capacity Augmentation is greater than 20 % (twenty percent) thereof. In the event of any Dispute between the Parties under Clause 14.1, the Dispute Resolution Procedure shall apply.
Sample 1

Related to Compensation for monetary loss

  • Compensation for Losses Upon demand of any Lender (with a copy to the Administrative Agent) from time to time, the Borrower shall promptly compensate such Lender for and hold such Lender harmless from any loss, cost or expense incurred by it as a result of: (a) any continuation, conversion, payment or prepayment of any Loan other than a Base Rate Loan on a day other than the last day of the Interest Period for such Loan (whether voluntary, mandatory, automatic, by reason of acceleration, or otherwise); (b) any failure by the Borrower (for a reason other than the failure of such Lender to make a Loan) to prepay, borrow, continue or convert any Loan other than a Base Rate Loan on the date or in the amount notified by the Borrower; or (c) any assignment of a Eurodollar Rate Loan on a day other than the last day of the Interest Period therefor as a result of a request by the Borrower pursuant to Section 10.13; including any loss of anticipated profits and any loss or expense arising from the liquidation or reemployment of funds obtained by it to maintain such Loan or from fees payable to terminate the deposits from which such funds were obtained. The Borrower shall also pay any customary administrative fees charged by such Lender in connection with the foregoing. For purposes of calculating amounts payable by the Borrower to the Lenders under this Section 3.05, each Lender shall be deemed to have funded each Eurodollar Rate Loan made by it at the Eurodollar Rate for such Loan by a matching deposit or other borrowing in the London interbank eurodollar market for a comparable amount and for a comparable period, whether or not such Eurodollar Rate Loan was in fact so funded.

  • Compensation for Overtime Assigned overtime is designated as those hours over the regular hours of work which are requested of the employee by management. Assigned overtime worked shall be paid at the rate of time and one-half (1 1/2).

  • Payment of Compensation Consultant shall submit to City a monthly itemized statement which indicates work completed and hours of Services rendered by Consultant. The statement shall describe the amount of Services and supplies provided since the initial commencement date, or since the start of the subsequent billing periods, as appropriate, through the date of the statement. City shall, within 30 days of receiving such statement, review the statement and pay all approved charges thereon.

  • REFUND OF UNEARNED COMPENSATION The Party of the Second Part agrees to refund the Party of the First Part any compensation received for which no services were rendered. TERMINATION: This contract may be terminated by either party pursuant to law. OTHER CONDITIONS: Any subsequent contracts shall supersede the provisions of this contract. PARTIES: The Fort Xxxxx School District 100, Party of the First Part, and XXXXX XXXXX XXXXX Party of the Second Part, agree as follows:

  • Compensation Table Attachment C of each Approved Service Order is a compensation table setting forth the manner in which the City will pay the Maximum Service Order Compensation (“Compensation Table”). Each Compensation Table is subject to the terms and conditions set forth below in Subsections 10.4 through 10.7.

  • Compensation for Work on a Holiday (a) Where an Employee is regularly scheduled to work, in accordance with Article 14, and their regularly scheduled day of work falls on a paid holiday, as defined in Article 18.01, they shall receive compensation equal to two and one-half (2 ½) times their regular rate of pay as follows: (i) compensation at one and one-half (1½) times their regular rate of pay, including the holiday pay, for the hours worked on the holiday; and (ii) time off with pay in lieu of the holiday on an hour-for-hour basis at a mutually acceptable time in accordance with Article 18.11. (b) Where time off with pay in lieu of the holiday has not been granted in accordance with Article 18.05(a)(ii), compensation shall be granted at the Employee’s regular rate of pay for those hours worked on the holiday.

  • Amount of Compensation City shall pay Contractor for performance of all Services rendered in accordance with this Contract in an amount not to exceed $3,000,000.

  • Compensation for Additional Services Additional Services shall be compensated as set forth on Exhibit A for the stipulated payment amounts set forth therein. Other Additional Services not set forth on Exhibit A that are required or requested by the Owner shall be compensated as agreed, using the methodology set forth on Exhibit A, prior to the Design Professional undertaking such Additional Services; provided, however, that if such compensation cannot be agreed, the Additional Services shall be performed at the hourly rates set forth and listed in Exhibit B, plus reimbursable expenses pursuant to Article 4.1.3 below, with a limitation as to maximum amount specified.

  • COMPENSATION COVERAGE a) The Employer shall provide coverage to all employees for injury on the job under the Workers’ Compensation Act of the Province of Alberta, or under an Insured Plan which provides coverage of compensation equal thereto.

  • Additional Compensation Notwithstanding anything in this Memorandum of Understanding to the contrary when in the judgment of the Board, it becomes necessary or desirable to utilize the services of County employees in capacities other than those for which they are regularly employed, the Board may authorize and, if appropriate, fix an additional rate of compensation for such employees.

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