Compensation for short supply /lifting Sample Clauses

Compensation for short supply /lifting. If for a year, the Level of Delivery by the Seller, or the Level of Lifting by the Purchaser falls below 100% of ACQ with respect to that year, the defaulting Party shall be liable to pay compensation (“Delivery Compensation") to the other Party for the shortfall quantity in terms of the following: Sl no Level of delivery/lifting of coal in a year Rate of compensation for the Shortfall Quantity (at the rote of Base Price of Grade G7 Grade ROM Coal of the Seller as prevailing on lhe last day of the year) 1 Less than 100% but up to 30 % of ACQ NIL 2 Below 30% of ACQ 5 % The Delivery compensation for short delivery/lifting shall be payable by the defaulting Party to the other Party within a period of 30 days from the date of receipt of claim. In the event of non- payment within the due date, the defaulting Party shall be liable to pay interest. However, in the event of non- payment of Delivery compensation by the purchaser beyond 60 days of such claim, the Seller shall be entitled to take any or all remedies including but not limited to encashment of Security Deposit and adjustment against the Coal value lying with Seller and/or termination of Coal supply.
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Related to Compensation for short supply /lifting

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  • Rental Rates and Wage Rates for Change Orders As soon as is practical, but prior to the completion of the Construction Preparation Period and in any event prior to the commencement of any Work on the Site, the Contractor shall submit in accordance with the style and format of a specimen to be furnished by the Owner for consideration of the Owner the following: (1) a proposal for rental rates on heavy construction equipment that shall apply in the event Change Order Work is performed, and (2) a proposal for wage rates for the types of project labor that shall apply in the event of the execution of any Change Order Work. Under penalty of false swearing, a principal of the contracting firm shall certify that the proposal for rental rates and proposal for wage rates do not exceed current costs for like services. The Owner will in no event consider a rental rate in excess of eighty percent of the rate set forth in the latest edition of the "Compilation of Nationally Averaged Rental Rates for Construction Equipment" of the Associated Equipment Distributors unless the rates proposed in excess of eighty percent are supported by proof satisfactory to the Owner that the excess rates are reasonable. If the equipment is owned by the Contractor the costs shall be charged at a maximum of eighty percent of market monthly rental rates for the amount of time used. If applicable, transportation costs may be included. The decision of the Owner shall be final, binding and conclusive on all parties. Rental rates shall be payable only for the actual time the equipment is required on the Site.

  • Compensation for Holidays Falling Within Vacation Schedule If a paid holiday falls on or is observed during an employee's vacation period, he/she shall be allowed an additional vacation day with pay at a time mutually agreed upon by the Employer and employee.

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  • Compensation for Unused Sick Leave 1. Employees who enter County service after July 1, 1979, shall not be eligible for compensation for any of their unused sick leave credits.

  • Compensation for Holidays Falling on Scheduled Days Off 1. When a holiday falls on a full-time employee's regularly scheduled day off, the employee shall receive eight (8) hours of compensatory time.

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  • Compensation for Holidays Worked a. With the exception of the provisions in Section C.2.b., below, an employee required to work on a holiday listed above shall be paid at the employee's regular straight-time rate of pay for the hours actually worked. In addition, an eligible employee shall receive either compensatory time off or holiday pay at the option of the University at the regular straight-time rate, including any shift differential.

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