Extraordinary Coverage Protection Sample Clauses

Extraordinary Coverage Protection. Airline agrees that in addition to paying charges for its use of space and equipment in the Terminals calculated in accordance with the Rate Methodology as modified by this Agreement, Airline shall when required by this Agreement pay a separate charge to provide extraordinary coverage protection to City (the “Extraordinary Coverage Protection Charge” or “ECPC”) in accordance with the following terms and conditions.
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Extraordinary Coverage Protection. It is imperative that XXXX generate sufficient Airport Revenues to meet the requirements of any applicable Rate Covenant. As such, XXXX may adjust the Terminal Rental Rates, the Signatory Passenger Airline Loading Bridge Rental Rate and/or the Signatory Landing Fee Rate, upon thirty (30) days prior written notice to the Signatory Passenger Airlines, if XXXX estimates that it will not meet its Rate Covenant Airport Revenue requirements during any Fiscal Year of the Term hereof. XXXX will retain such Extraordinary Coverage Protection Airport Revenues only to the extent necessary to meet the Rate Covenant requirements.
Sample 1
Extraordinary Coverage Protection. The AUTHORITY shall include Extraordinary Coverage Protection payments in the rates for rentals, fees, and charges at the Airport in any Fiscal Year in which the amount of Revenues plus Transfers, less O&M Expenses is projected to be less than one hundred twenty-five percent (125%) of the sum of Debt Service on Bonds and Subordinated Indebtedness for the Airport System. Any amounts which must be collected for such Extraordinary Coverage Protection payments will be allocated to Cost Centers within the Airline Supported Areas on the basis of the Net Requirement of such Cost Centers. Should Extraordinary Coverage Protection payments be made, AUTHORITY will refund to the Signatory Airlines such payments made by each Signatory Airline as soon as uncommitted funds become available in the General Purpose Fund.
Sample 1
Extraordinary Coverage Protection. 9.12.1 Airline acknowledges that in order to satisfy the Coverage Amount for Debt Service on Bonds and Subordinated Indebtedness, Airline shall be required to make extraordinary coverage protection payments in addition to the Landing Fees and Terminal Rents otherwise established by this Article 9 in any Fiscal Year in which the amount of Revenues less Operating Expenses is projected to be less than the amount required by Section 7.13 of the Master Agreement, as such rate covenant may be amended, supplemented or restated from time to time. Any amounts that must be collected for such extraordinary coverage protection payments shall be allocated to the Airfield Revenue Requirement or the Airline Terminal Revenue Requirement. Should Extraordinary Coverage Protection payments be made in any given Fiscal Year, City shall in subsequent Fiscal Years refund to Airline its proportionate share of such payments as soon as there are sufficient Net Remaining Revenues available under Section 9.10 to first allow City to retain Four Million Dollars ($4,000,000) (until the first Fiscal Year after the DBO of the New Terminal Project) or Two Million Dollars ($2,000,000) (in Fiscal Years beginning after the DBO of the New Terminal Project), as provided by Section 9.10. The refund of Extraordinary Coverage Protection payments shall occur before the remaining balance of Net Remaining Revenue, if any, is divided sixty percent (60%) to the Signatory Passenger Carriers and forty percent (40%) to City in accordance with Section 9.10.
Sample 1
Extraordinary Coverage Protection. AUTHORITY shall include Extraordinary Coverage Protection payments in the calculation of rates for rentals, fees and charges at the Airport in any Fiscal Year in which the amount of Revenues, less O&M Expenses, is projected to be less than one hundred twenty- five percent (125%) of the amount of Debt Service. Payments will be allocated to the Airfield and Terminal Cost Centers on the basis of Total Landing Fee Requirement and Total Terminal Requirement, each as determined in accordance with Exhibit “G.”
Sample 1

Related to Extraordinary Coverage Protection

  • Extraordinary Item of Compensation You expressly recognize and acknowledge that your participation in the Plan is a result of the discretionary and unilateral decision of the Company, as well as your free and voluntary decision to participate in the Plan in accordance with the terms and conditions of the Plan, the Award Agreement and this Addendum. As such, you acknowledge and agree that the Company may, in its sole discretion, amend and/or discontinue your participation in the Plan at any time and without any liability. The value of the Option is an extraordinary item of compensation outside the scope of your employment contract, if any. The Option is not part of your regular or expected compensation for purposes of calculating any severance, resignation, redundancy, end of service payments, bonuses, long-service awards, pension or retirement benefits, or any similar payments, which are the exclusive obligations of the Employer.

  • Payment of Extraordinary Education Related Expenses Section 5.1. PAYMENT OF EXTRAORDINARY EDUCATION-RELATED EXPENSES. In addition to the amounts determined pursuant to Articles IV and VI of this Agreement, Applicant on an annual basis shall also indemnify and reimburse District for all non-reimbursed costs, certified by the District’s external auditor to have been incurred by the District for extraordinary education-related expenses directly and solely related to the project that are not directly funded in state aid formulas, including expenses for the purchase of portable classrooms and the hiring of additional personnel to accommodate a temporary increase in student enrollment caused directly by such project. Applicant shall have the right to contest the findings of the District’s external auditor pursuant to Section 4.9 above.

  • Extraordinary Services For any services other than those covered by the aforementioned, a special per hour charge will be made commensurate with the character of the service, time required and responsibility involved. Such services include but are not limited to excessive administrative time, attendance at closings, specialized reports, and record keeping, unusual certifications, etc.

  • Compensation of the Subadviser The Subadviser will bear all expenses in connection with the performance of its services under this Subadvisory Agreement, which expenses shall not include brokerage fees or commissions in connection with the effectuation of securities transactions for the Portfolio. For the services provided and the expenses assumed pursuant to this Subadvisory Agreement, MML Advisers agrees to pay the Subadviser and the Subadviser agrees to accept as full compensation for the performance of all functions and duties on its part to be performed pursuant to the provisions hereof, a fee paid monthly, in arrears, at the following rate: [ ].

  • Nonrecurring and Extraordinary Expenses Such nonrecurring or extraordinary expenses as may arise, including the costs of actions, suits, or proceedings to which the Fund is a party and the expenses the Fund may incur as a result of its legal obligation to provide indemnification to its officers, directors, and agents.

  • Extraordinary Event Registry Operator will use commercially reasonable efforts to restore the critical functions of the registry within twenty-­‐four (24) hours after the termination of an extraordinary event beyond the control of the Registry Operator and restore full system functionality within a maximum of forty-­‐eight (48) hours following such event, depending on the type of critical function involved. Outages due to such an event will not be considered a lack of service availability.

  • Rehabilitation The Employer may use the results of the drug and alcohol test to require the employee to successfully complete a rehabilitation plan.

  • Section 504 of the Rehabilitation Act of 1973 The Contractor shall comply with section 504 of the Rehabilitation Act of 1973 (29 U.S.C. § 794), as amended, and any applicable regulations. The Contractor agrees that no qualified individual with handicaps shall, solely on the basis of handicap, be excluded from participation in, be denied the benefits of, or otherwise be subjected to discrimination under any program or activity that receives Federal financial assistance from HUD.

  • Extraordinary Dividends If the Company, at any time while the Warrants are outstanding and unexpired, shall pay a dividend or make a distribution in cash, securities or other assets to the holders of Ordinary Shares on account of such Ordinary Shares (or other shares of the Company into which the Warrants are convertible), other than (a) as described in subsection 4.1.1 above, (b) Ordinary Cash Dividends (as defined below), (c) to satisfy the redemption rights of the holders of the Ordinary Shares in connection with a proposed initial Business Combination, (d) as a result of the repurchase of Ordinary Shares by the Company if a proposed initial Business Combination is presented to the shareholders of the Company for approval to satisfy the redemption rights of the holders of the Ordinary Shares in connection with a vote to amend the Company’s amended and restated memorandum and articles of association as provided therein to modify the substance or timing of the Company’s obligation to redeem 100% of the public shares if the Company does not complete the Business Combination within the period set forth in the Company’s amended and restated memorandum and articles of association, or (e) in connection with the redemption of public shares upon the failure of the Company to complete its initial Business Combination and any subsequent distribution of its assets upon its liquidation (any such non-excluded event being referred to herein as an “Extraordinary Dividend”), then the Warrant Price shall be decreased, effective immediately after the effective date of such Extraordinary Dividend, by the amount of cash and/or the fair market value (as determined by the Board, in good faith) of any securities or other assets paid on each Ordinary Share in respect of such Extraordinary Dividend. For purposes of this subsection 4.1.2, “Ordinary Cash Dividends” means any cash dividend or cash distribution which, when combined on a per share basis, with the per share amounts of all other cash dividends and cash distributions paid on the Ordinary Shares during the 365-day period ending on the date of declaration of such dividend or distribution (as adjusted to appropriately reflect any of the events referred to in other subsections of this Section 4 and excluding cash dividends or cash distributions that resulted in an adjustment to the Warrant Price or to the number of Ordinary Shares issuable on exercise of each Warrant) does not exceed $0.50 (being 5% of the offering price of the Units in the Offering).

  • Extraordinary Events No fault if failure due to an Extraordinary Event 15.1 Neither Party will be liable to the other for any failure to perform its obligations under this Contract where the failure is due to an Extraordinary Event. Obligations of the affected Party 15.2 A Party who wishes to claim suspension of its obligations due to an Extraordinary Event must notify the other Party as soon as reasonably possible. The Notice must state: a. the nature of the circumstances giving rise to the Extraordinary Event b. the extent of that Party's inability to perform under this Contract c. the likely duration of that non-performance, and d. what steps are being taken to minimise the impact of the Extraordinary Event on the delivery of Services. Alternative arrangements requiring immediate termination 15.3 If the Buyer, acting reasonably, requires the Services to be supplied during the period affected by an Extraordinary Event, then despite clause 15.4, the Buyer may terminate this Contract immediately by giving Notice.

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