Computation of Award Sample Clauses

Computation of Award. Defendants argue the court’s computation of the amount of punitive damages was in error. We review the court’s computation of the punitive damages award to determine whether the amount was excessive or the result of passion, partiality, or corruption. Xxxxxxx, 398 Ill. App. 3d at 69. The amount of the award should be a reflection of the court’s determination as to the degree of maliciousness evidenced by defendants’ actions. Xxxxxxx, 398 Ill. App. 3d at 69. Defendants assert there is no evidence that any of defendants’ actions were taken with the deliberate goal of harming plaintiffs. Instead, the intercompany loans were designed to accommodate cash-flow issues which inevitably arise within the development business and there was no intent to harm plaintiffs’ interests in OTD. They assert their actions, which inadvertently caused solely economic harm and from which they did not directly profit, “fall ‘on the low-end of the scale for punitive damages.’ ” The fact that defendants may not have intended to harm plaintiffs does not take away from the fact that they were fully aware of and ignored the impact their “on- demand loans” would have on OTD, plaintiffs’ investment. The record shows OTD received no benefit from the transfers. It was in solid financial condition with sufficient cash flow of its own and did not require any transfers of funds. That is until the “loans” taken by defendants from OTD reached such a level that OTD was unable to pay its mortgage and real estate taxes. OTD was harmed by the transfers in that it could not meet its financial obligation and was charged late fees and penalties as a result. It also was unable to use its own funds or earn interest thereon during the period the interest- free loans were outstanding. It is disingenuous for defendants to claim they did not directly profit from the transfers. Of course they directly profited from the transfers. All the enterprises that received the transfers, as well as their owner, XxXxxx, and all his inter-related businesses, including the other defendants, profited from the constant source of easily obtainable, interest-free financing. They made the most of this access for many years, taking care to hide what they were doing so that their practice could continue. The court awarded a 3:1 ratio to actual damages because “a 1:1 ratio [would be] insufficient to deter future misconduct as strong medicine is required to cure defendants’ disrespect for the law.” We do not find this excessive g...
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Related to Computation of Award

  • Notification of Award 2.28.1 Prior to the expiration of the period of tender validity, the Procuring entity will notify the successful tenderer in writing that its tender has been accepted.

  • Calculation of Service 25.7 For purposes of calculating continuous service and active service, a year shall be deemed to consist of two hundred and sixty-one (261) working days.

  • Basis of Award No additional documents submitted by a Bidder should be incorporated in the contract unless it is specifically identified and incorporated by reference in the attached contract document. Balance of page intentionally left blank

  • Grant Award On and subject to the terms and conditions set forth herein, Triumph hereby agrees to make a grant (the “Grant”) to Grantee in the aggregate maximum amount of up to Two Hundred Thousand and 00/100 Dollars ($200,000.00) (the “Maximum Grant Amount”) to provide partial funding for the Project.

  • COMPUTATION OF BACK WAGES No claim for back wages shall exceed the amount of wages the employee would otherwise have earned at the employee's regular rate less:

  • Pre-Award Costs Pre-award costs are those incurred prior to the effective date of the award directly pursuant to the negotiation and in anticipation of the award where such costs are necessary to comply with the proposed delivery schedule or period of performance. Such costs are allowable only to the extent that they would have been allowable if incurred after the date of the award and only with the prior written approval of the Department.

  • Yes - No If awarded on Part 1 of the TIPS Contract, for the duration of the Contract, Vendor agrees to provide catalog pricing, as defined in the solicitation and below, to TIPS upon request for any goods and services offered on PART 1 of the Vendor's TIPS Contract, if any. "Catalog" means the available list of tangible personal property or services, in the most current listing, regardless of date, during the life of the contract, that takes the form of a catalog, price list, schedule, shelf price or other form that: A. is regularly maintained by the manufacturer or Vendor of an item; and B. is either published or otherwise available for inspection by a customer during the purchase process; C. to which the minimum discount proposed by the proposing Vendor may be applied. YES TIPS administration fee By submitting a proposal, I agree that all pricing submitted to TIPS shall include the participation fee, as designated in the solicitation or as otherwise agreed in writing and shall be remitted to TIPS by the Vendor or the vendor's named resellers and as agreed in the Vendor agreement. I agree that the fee shall not and will not be added by the vendor as a separate line item on a TIPS member invoice, quote, proposal or any other written communications with the TIPS member.

  • Final Award Where the tribunal makes a final award against a party, the tribunal may award, separately or in combination, only:

  • Definition of Service Fast Post‐Fault Active Power Recovery is the recovery of a Providing Unit’s MW Output to at least 90% of its pre‐Fault Disturbance MW Output within 250ms of the voltage at the Providing Unit’s Connection Point recovering to at least 90% of its pre‐Fault Disturbance value for any Fault Disturbance that is cleared within 900ms. The Providing Unit must be exporting Active Power to the Power System and must remain connected to the Power System for at least 15 minutes following the Fault Disturbance.

  • Performance of Service 2.1 Appendix A (General Provisions), Articles 1 through 16, governs the performance of services under this contract. 2.2 Appendix B sets forth the liability and insurance provisions of this contract. 2.3 Appendix C sets forth the services to be performed by the contractor. ARTICLE 3.

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