Contingency Margin Sample Clauses

Contingency Margin. 13. The mobilisation of the Contingency Margin, or part thereof, shall be proposed by the Commission after a thorough analysis of all other financial possibilities. Such a proposal may be made in relation to a draft budget or draft amending budget. The Contingency Margin may be mobilised by the European Parliament and the Council in the framework of the budgetary procedure ste out in Article 314 TFEU.
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Contingency Margin. For the initial and all future Security Amount calculations, the calculation of the Security Amount will include a contingency margin of five percent (5%) of the actuarial liability (before contingency margin) of the Participant Liabilities. For greater certainty, no such contingency margin of five percent (5%) or other margin of the actuarial liability shall be applied in determining the Participant Liabilities at any time.
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Contingency Margin. 14. The mobilisation of the Contingency Margin, or part thereof, shall be proposed by the Commission after a thorough analysis of all other financial possibilities. Such proposal may only be made in relation to a draft amending or annual budget, the realisation of which makes such proposal necessary. The Commission shall accompany the proposal for the mobilisation of the Contingency Margin by a proposal for reallocation, by a significant amount as far as supported by the analysis, within the existing budget. The decision to mobilise the Contingency Margin shall be taken jointly by the two arms of the budgetary authority simultaneously with the approval of the amemding or annual budget the adoption of which it facilitates. The European Parliament and the Council shall act according to the voting rules foreseen in article 314 TFEU for the approval of the budget.
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Contingency Margin. 15. A contingency margin of up to 0.03% of the Gross National Income of the Union shall be constituted outside the ceilings of the financial framework as a last resort instrument to react to unforeseen circumstances. Recourse to the Contingency Margin shall not exceed, at any given year, the maximum amount foreseen in paragraph (1)(c) of Article 4 of the MFF Regulation and shall be consistent with the own resources ceiling. The mobilisation of the contingency margin, or part thereof, shall be proposed by the Commission after a thorough analysis of all other financial possibilities. The Commission shall accompany the proposal for the mobilisation of the Contingency Margin by a proposal for reallocation, by a significant amount as far as supported by the analysis, within the existing budget. The decision to mobilise the Contingency Margin shall be taken jointly by the two arms of the budgetary authority. The Council shall act by a qualified majority and the European Parliament shall act by a majority of its component members and three fifths of the votes cast.
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Contingency Margin. Pricing for the 50-64 Plan shall include a contingency margin to cover higher than expected costs for benefits and expenses as mutually agreed by the Parties (“Contingency Margin”). The Contingency Margin shall be *** of 50-64 Member Contributions for the Pilot Period.
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Related to Contingency Margin

  • Applicable Margin As of any date of determination and with respect to the Revolving Credit Loans, the applicable margin set forth in the following table that corresponds to the Leverage Ratio for the most recently completed period for which a report in substantially the form of Exhibit D signed on behalf of the each Borrower by a Responsible Officer of such Borrower was required to be delivered hereunder: Level Leverage Ratio Base Rate Revolving Loans Base Rate Conversion Loan LIBOR Revolving Loans LIBOR Conversion Loan I < 2.50:1.00 0.75 % 1.25 % 2.50 % 3.00 % II > 2.50:1.00 1.00 % 1.50 % 2.75 % 3.25 % The Applicable Margin shall, in each case, be determined and adjusted quarterly on the date five (5) Business Days after the date on which the quarterly financial information and reports are delivered to the Agent and the Lenders in accordance with the provisions of Sections 5.1(b) and (d) (each an “Interest Determination Date”), provided that until the first Interest Determination Date following the Closing Date, the Applicable Margin shall be as set forth in Tier II above. Such Applicable Margin shall be effective from such Interest Determination Date until the next such Interest Determination Date. Notwithstanding anything to the contrary set forth above, (a) if the Borrowers shall fail to provide the financial information and reports in accordance with the provisions of Sections 5.1(b) and (d), such Applicable Margin shall, on the date five (5) Business Days after the date by which the Borrowers were so required to provide such financial information and certifications to the Agent and the Lenders, be the percentage set forth in Tier II above until such time as such information and reports are provided, whereupon the Applicable Margin shall be determined as set forth above, and (b) if an Event of Default shall occur, such Applicable Margin shall, on the date the Event of Default occurs, be the percentage set forth in Tier II above until such time as such Event of Default is cured or waived, whereupon the Applicable Margin shall be determined as set forth above. In the event that any financial statement delivered pursuant to Section 5.1 is shown to be inaccurate (regardless of whether this Agreement or the Commitments are in effect when such inaccuracy is discovered), and such inaccuracy, if corrected, would, have led to the application of a higher Applicable Margin for any period (an “Applicable Period”) than the Applicable Margin applied for such Applicable Period, and only in such case, then the Borrowers shall, promptly upon receipt of written notice of such inaccuracy (i) deliver to the Agent a corrected financial statement for such Applicable Period, (ii) determine the Applicable Margin for such Applicable Period based upon the corrected financial statement, and (iii) promptly pay to the Agent the accrued additional interest owing as a result of such increased Applicable Margin for such Applicable Period, which payment shall be promptly applied by the Agent in accordance with Section 2.8(c); provided that non-payment as a result of such inaccuracy shall not in any event be deemed retroactively to be an Event of Default pursuant to Section 8.1(a), and such amount payable shall be calculated without giving effect to any additional interest payable on overdue amounts under Section 2.5(d) if paid promptly on demand. This is in addition to rights of the Agent and Lenders with respect to Sections 2.5(d) and 8.2 and other of their respective rights under this Agreement.

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