Deflation Credits Sample Clauses

Deflation Credits. 3.4.1 Subject to section 3.4.4 below, in addition to the credits referenced in Sections 3.1 and 3.3, the Company hereby commits to GE that Fees across all Future SOWs that are not GDC Customer SOWs and were in effect as of December 31, 2009 will, in aggregate, be lower than the fees for calendar year 2009 for such Future SOWs in the amount described below: 2010 $[**] 2011 $[**] 2012 $[**] If the Future SOWs in effect as of December 31, 2009 are in effect on December 31, 2012, then GE would receive a credit for the Calendar Year 2013 of $[**]. 3.4.2 The Company and GE shall further agree by February 20, 2010 on the specific details of the computation of Deflation Credits referred to in Section 3.4.1, including the Future SOWs to which it applies, with the understanding that if they fail to reach agreement on such details they nonetheless intend to be bound by the provisions of this Section 3.4. 3.4.3 The Company shall perform the computation referenced in Section 3.4.2 within ninety (90) days following the end of each applicable calendar year and if there is a shortfall in the Company’s commitment, the Company shall pay the shortfall to GE or provide GE with a credit against future Fees in an amount equal to such shortfall, as the parties may mutually agree. 3.4.4 The Deflation Credits set out in Section 3.4.1 have been arrived at based on the purchase dollar volume of Services purchased in the Year 2009 and in the subsequent years after adjustments for Productivity and Deflation Credits. In the event the actual dollar volume purchased in any subsequent year is more than or less than the dollar volume assumed above, the Deflation Credit for such year as detailed in Section 3.4.1 above shall be appropriately adjusted up or down as the case may be .
Sample 1
AutoNDA by SimpleDocs
Deflation Credits. 3.3.1 In addition to the credits referenced in Sections 3.1 and 3.2 of this Amendment, the Company hereby commits to GE that a deflation credit will be provided to GE each year at the rates set out in the table below. The rate for each year will be applied to the total prior year xxxxxxxx for all Eligible Transferred SOWs in effect as of January 1. Any deflation credit attributable to an SOW that is terminated during the year will be pro-rated in accordance with the date of termination. Calendar Year Credit 2012 [**]% 2013 [**]% 2014 [**]% 2015 [**]% The Company shall perform the computation of Deflation Credits within ninety (90) days following the end of each applicable calendar year and provide details of the computation, including actual billing and identification of the the SOW’s used in the computation to GE. If there is a shortfall in the Company’s commitment, the Company shall pay the shortfall to GE or provide GE with a credit against future Fees in an amount equal to such shortfall, in accordance with Article 3.4.
Sample 1

Related to Deflation Credits

  • Vacation Credits All employees shall participate in the County’s Terminal Pay Plan (Plan). However, only the terminal paychecks (including unused vacation) of those employees who have reached the age of fifty-five (55) shall be placed into the Plan. These terminal paychecks shall be placed into the Plan on a pre-tax basis in accordance with the Plan, all applicable laws and all rules and regulations applicable to the Plan.

  • Service Level Credits If Verint does not meet the Uptime Percentage levels specified below, Customer will be entitled, upon written request, to a service level credit (“Service Level Credit”) to be calculated, with respect to the applicable Hosted Environment, as follows: • If Uptime Percentage is at least 99.95% of the month’s minutes, no Service Level Credits are provided; or • If Uptime Percentage is 99.75% to 99.94% (inclusive) of the month’s minutes, Customer will be eligible for a credit of 5% of a monthly average fee derived from one-twelfth (1/12th) of the then-current annual fee paid to Verint; or • If Uptime Percentage is 99.50% to 99.74% (inclusive) of the month’s minutes, Customer will be eligible for a credit of 7.5% of a monthly average fee derived from one-twelfth (1/12th) of the then-current annual fee paid to Verint; or • If Uptime Percentage is less than 99.50% of the month’s minutes, Customer will be eligible for a credit of 10.0% of a monthly average fee derived from one-twelfth (1/12th) of the then-current annual fee paid to Verint. Customer shall only be eligible to request Service Level Credits if Customer notifies Verint in writing within thirty (30) days from the end of the month for which Service Level Credits are due. All claims will be verified against Verint’s system records. In the event after such notification Verint determines that Service Level Credits are not due, or that different Service Level Credits are due, Verint shall notify Customer in writing on that finding. With respect to any Services Level credits due under Orders placed directly by Customer on Verint, Service Level Credits will be applied to the next invoice following Customer’s request and Verint’s confirmation of available credits; with respect to any Service Level Credits due for SaaS Services under Orders placed on Verint by a Verint authorized reseller on Customer’s behalf, Service Level Credits will be issued by such reseller following Customer’s request and Verint’s confirmation of available credits and such Services Level Credits may only be used by Customer with respect to subsequent purchases of Verint offerings through that reseller. Service Level Credits shall be Customer’s sole and exclusive remedy in the event of any failure to meet the Service Levels. Verint will only provide records of system availability in response to Customer’s good faith claims.

  • Service Credits Employees on pregnancy leave shall be entitled to normal accumulation of service credits for the duration of the pregnancy leave.

  • Credits An employee shall earn sick leave credits at the rate of nine decimal three seven five (9.375) hours for each calendar month for which such employee receives pay for at least seventy-five (75) hours.

  • Vacation Credit Any outstanding vacation entitlement for a person going on LTD will be paid in cash upon expiry of sick leave. The cash payment will be calculated on the base earnings at the expiration of sick leave for the prorated days of vacation entitlement, any outstanding lieu days, any outstanding floating statutory holidays, and banked time for 40-hour per week employees. No vacation entitlement, floating holidays, or banked time for 40-hour per week employees accrues while a member is in receipt of LTD benefits.

  • Salary Scale The salary scale applicable to Employees shall be set out hereinafter in the Wage Schedule.

  • Economic Benefit The Bank shall determine the economic benefit attributable to the Executive based on the life insurance premium factor for the Executive’s age multiplied by the aggregate death benefit payable to the Beneficiary. The “life insurance premium factor” is the minimum factor applicable under guidance published pursuant to Treasury Reg. § 1.61-22(d)(3)(ii) or any subsequent authority.

  • Sales on Credit If Collateral Agent sells any of the Collateral upon credit, Grantor will be credited only with payments actually made by purchaser and received by Collateral Agent and applied to indebtedness of the purchaser. In the event the purchaser fails to pay for the Collateral, Collateral Agent may resell the Collateral and Grantor shall be credited with proceeds of the sale.

  • Salary Scales ‌ 2.5.1 Effective from 1 January 2024, and subject to the Remuneration provisions in the Terms of Settlement, a 4% increase will apply to all paid and printed rates. The following Allied Divisions shall refer to the applicable schedules for their scales: MIT, UCOL and Otago. 2.5.2 Effective from 1 January 2025, kaimahi will be translated into the following salary scale, which includes the 4% salary increase: Band Step (N/A for UCOL and TOPNZ) Scale Scale 2025 (4%) 40 hours Band Step(N/A for UCOL and TOPNZ Scale 2025 (4%) Scale 2025 (4%)

  • Transmission Credits No later than thirty (30) days prior to the Commercial Operation Date, the Interconnection Customer may make a one-time election by written notice to the CAISO and the Participating TO to receive Congestion Revenue Rights as defined in and as available under the CAISO Tariff at the time of the election in accordance with the CAISO Tariff, in lieu of a refund of the cost of Network Upgrades in accordance with Article 11.4.1.

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!