De Minimis Projects Clause Samples

De Minimis Projects. Notwithstanding Section 5.3, in the case of a Proposed Growth CapEx Project proposed in accordance with Section 5.2(a)(ii) after December 31, 2014 that relates to a capital project reasonably expected to require less than $1 million in the aggregate (a “De Minimis Project”), the Board (acting with at least fifty percent (50%) of the Managers) may require all (but not less than all) Eligible Members to fund their pro rata portion such De Minimis Project, which shall (a) not exceed (i) CapEx Contributions by Eligible Members of $1 million in the aggregate with respect to each De Minimis Project and/or (ii) CapEx Contributions by Eligible Members of $15 million in the aggregate per year with respect to De Minimis Projects and (b) be made on the other terms and conditions described in Section 5.3 (including the issuance of Common Units to the Eligible Members in accordance with Section 5.2(c)). Notwithstanding anything to the contrary contained herein, the Eligible Members shall not have any obligation to fund De Minimis Projects (x) unless all other Eligible Members fund their pro rata portion of De Minimis Projects (and no Eligible Member shall have an obligation to fund any portion of another Eligible Member’s pro rata portion of a De Minimis Project) or (y) upon the expiration of the Commitment Period.
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Related to De Minimis Projects

  • De Minimis 1. A good that does not undergo a change in tariff classification in accordance with Annex 3A shall nonetheless be considered to be originating if the value of all non-originating materials that have been used in its production and do not undergo the applicable change in tariff classification does not exceed 10 percent of the value of the good, determined in accordance with Article 3.3 if: (a) the value of such non-originating materials is included in the value of non-originating materials for any applicable regional value content requirement; and (b) the good satisfies all other applicable requirements in this Chapter. 2. Paragraph 1 shall not apply to goods classified in Chapters 1 through 14 and in Chapters 50 through 63 of the HS. A good classified in Chapters 50 through 63 of the HS, produced in the territory of a Party, shall be considered an originating good if the total weight of all non-originating fibers or yarns used in the production of the component that determines the tariff classification of that good, that do not undergo the applicable change in tariff classification, does not exceed 10 percent of the weight of the good.

  • De Minimis Adjustments No adjustment in the number of shares of Common Stock purchasable hereunder shall be required unless such adjustment would require an increase or decrease of at least one share of Common Stock purchasable upon an exercise of each Warrant and no adjustment in the Exercise Price shall be required unless such adjustment would require an increase or decrease of at least $0.01 in the Exercise Price; provided, however, that any adjustments which by reason of this Section 3.7 are not required to be made shall be carried forward and taken into account in any subsequent adjustment. All calculations shall be made to the nearest full share or nearest one hundredth of a dollar, as applicable.

  • Projects There shall be a thirty (30) km free zone around the projects excluding the Metro Vancouver Area. For local residents, kilometers shall be paid from the boundary of the free zone around the project. Workers employed by any contractor within an identified free zone who resides outside of that same free zone will be paid according to the Kilometer Chart from the project to their residence less thirty

  • Project Cost An updated cost spreadsheet reflecting the current forecasted cost vs. the latest approved budget vs. the baseline budget should be included in this section. One way to track project cost is to show: (1) Baseline Budget, (2) Latest Approved Budget, (3) Current Forecasted Cost Estimate, (4) Expenditures or Commitments to Date, and (5) Variance between Current Forecasted Cost and Latest Approved Budget. Line items should include all significant cost centers, such as prior costs, right-of-way, preliminary engineering, environmental mitigation, general engineering consultant, section design contracts, construction administration, utilities, construction packages, force accounts/task orders, wrap-up insurance, construction contingencies, management contingencies, and other contingencies. The line items can be broken-up in enough detail such that specific areas of cost change can be sufficiently tracked and future improvements made to the overall cost estimating methodology. A Program Total line should be included at the bottom of the spreadsheet. Narratives, tables, and/or graphs should accompany the updated cost spreadsheet, basically detailing the current cost status, reasons for cost deviations, impacts of cost overruns, and efforts to mitigate cost overruns. The following information should be provided:

  • Project 3.01. The Recipient declares its commitment to the objectives of the Project. To this end, the Recipient shall carry out the Project in accordance with the provisions of Article IV of the General Conditions.