Due to Profitability Sample Clauses

Due to Profitability. Subject to the terms hereof, from time to time during the Modified Term, but in no event earlier than the first (1st) anniversary of the Suite 700 Commencement Date, and provided that (i) Tenant has not previously been in default under the Lease and is not then in default under the Lease, and (ii) Tenant delivers to Landlord a written request to reduce the L-C Amount (each such request being referred to herein as an “L-C Profitability Reduction Request”) and accompanying audited financial statements for Tenant’s most recent full fiscal year (i.e., ending as of January 31st) immediately prior to the date of such L-C Profitability Reduction Request (the “Audited Financial Statements”) and unaudited financial statements certified by Tenant’s Chief Financial Officer for any additional fiscal quarters since the date of the Audited Financial Statements, including an unaudited profit or loss statement, statement of cash flows and balance sheet, each as of the end of such fiscal quarter and prepared in accordance with U.S. generally accepted accounting principles consistently applied, subject to changes resulting from normal year-end audit adjustments, in each case demonstrating that Tenant has been “Profitable” (as defined in Section 21.3.1.1(d) below) during four (4) of the five (5) consecutive calendar quarters immediately preceding the L-C Profitability Reduction Request, then the L-C Amount shall be reduced by Four Hundred Sixteen Thousand Dollars ($416,000.00); provided, however, with respect to any such request described in this Section 21.3.1.1(a), in no event shall (A) Tenant make such L-C Profitability Reduction Request more than one (1) time in any given twelve (12) month period, (B) the L-C be reduced more than one (1) time in any nine (9) month period (including any reduction pursuant to Section 21.3.1.1(b) below), and/or (C) the L-C Amount be less than an amount equal to the sum of Eight Hundred Twenty Thousand Dollars ($820,000.00).
Sample 1Sample 2
AutoNDA by SimpleDocs

Related to Due to Profitability

  • Profitability The Board reviewed detailed information regarding revenues received by XXXX under the Agreement. The Board considered the estimated costs to XXXX, and pre-tax profits realized by XXXX, from advising the DWS Funds, as well as estimates of the pre-tax profits attributable to managing the Fund in particular. The Board also received information regarding the estimated enterprise-wide profitability of DIMA and its affiliates with respect to all fund services in totality and by fund. The Board and the Fee Consultant reviewed XXXX’s methodology in allocating its costs to the management of the Fund. Based on the information provided, the Board concluded that the pre-tax profits realized by XXXX in connection with the management of the Fund were not unreasonable. The Board also reviewed certain publicly available information regarding the profitability of certain similar investment management firms. The Board noted that, while information regarding the profitability of such firms is limited (and in some cases is not necessarily prepared on a comparable basis), DIMA and its affiliates’ overall profitability with respect to the DWS Funds (after taking into account distribution and other services provided to the funds by XXXX and its affiliates) was lower than the overall profitability levels of most comparable firms for which such data was available. Economies of Scale. The Board considered whether there are economies of scale with respect to the management of the Fund and whether the Fund benefits from any economies of scale. The Board noted that the Fund’s investment management fee schedule includes fee breakpoints. The Board concluded that the Fund’s fee schedule represents an appropriate sharing between the Fund and DIMA of such economies of scale as may exist in the management of the Fund at current asset levels.

  • Performance Expectations The Charter School’s performance in relation to the indicators, measures, metrics and targets set forth in the CPF shall provide the basis upon which the SCSC will decide whether to renew the Charter School’s Charter Contract at the end of the charter term. This section shall not preclude the SCSC from considering other relevant factors in making renewal decisions.

  • Maintenance of Profitability Seller shall not permit, for any Test Period, Net Income for such Test Period, before income taxes for such Test Period and distributions made during such Test Period, to be less than $1.00.

  • PRODUCTIVITY The Union shall place no limitations upon the amount of work which an Employee shall perform during the working day and there shall be no restrictions imposed against the use of any type of machinery, tools or labour saving devices.

  • Substantial Performance This Contract shall be deemed to be substantially performed only when fully performed according to its terms and conditions and any written amendments or supplements.

  • Dependability a) Requires constant supervision to perform daily routine correctly b) Occasionally misses necessary task c) Rarely misses necessary task and is reliable d) Outstanding reliability and job is always completed correctly

  • Metrics Institutional Metrics System-Wide Metrics

  • Failure to Maintain Financial Viability The System Agency may terminate the Grant Agreement if the System Agency, in its sole discretion, determines that Grantee no longer maintains the financial viability required to complete the services and deliverables, or otherwise fully perform its responsibilities under the Grant Agreement.

  • EVALUATING PERFORMANCE 7.1 The Performance Plan (Annexure A) to this Agreement sets out: 7.1.1 the standards and procedures for evaluating the Employee’s perfor- xxxxx; and 7.1.2 the intervals for the evaluation of the Employee’s performance. 7.2 Despite the establishment of agreed intervals for evaluation, the Employer may in addition review the Employee’s performance at any stage while the contract of employment remains in force. 7.3 Personal growth and development needs identified during any performance review discussion must be documented in a Personal Development Plan as well as the actions agreed to and implementation must take place within set time frames. 7.4 The Employee’s performance will measured in terms of contributions to the goals and strategies set out in the Employer’s IDP. 7.5 The annual performance appraisal will involve: 7.5.1. Assessment of the achievement of results as outlined in the perfor- xxxxx plan: (a) Each KPA should be assessed according to the extent to which the specified standards or performance indicators have been met and with due regard to ad hoc tasks that had to be performed under the KPA. (b) An indicative rating on the five-point scale should be provided for each KPA. (c) The applicable assessment rating calculator (refer to paragraph 7.5.3. below) must then be used to add the scores and calculate a final KPA score.

  • Performance Monitoring ‌ A. Performance Monitoring of Subrecipient by County, State of California and/or HUD shall consist of requested and/or required written reporting, as well as onsite monitoring by County, State of California or HUD representatives. B. County shall periodically evaluate Subrecipient’s progress in complying with the terms of this Contract. Subrecipient shall cooperate fully during such monitoring. County shall report the findings of each monitoring to Subrecipient. C. County shall monitor the performance of Subrecipient against the goals, outcomes, milestones and performance standards required herein. Substandard performance, as determined by County, will constitute non-compliance with this Contract for which County may immediately terminate the Contract. If action to correct such substandard performance is not taken by Subrecipient within the time period specified by County, payment(s) will be denied in accordance with the provisions contained in this Paragraph 47 of this Contract. D. HUD in accordance with 24 CFR Part 570 Subpart O, 570.902, will annually review the performance of County to determine whether County has carried out its Community Development Block Grant (CDBG) assisted activities in a timely manner and has significantly disbursed CDBG funds and met the mandated “1.5 ratio” threshold. Subrecipient is responsible to ensure timely drawdown of funds.

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