Financial Cap Sample Clauses

Financial Cap. (a) The first full year of this collective agreement shall constitute the base financial year (the “base financial year”). (b) All additional costs incurred by the Corporation as a result of the inclusion of rural and suburban mail carriers as employees shall be limited to twenty-nine million dollars ($29,000,000) in the first year (the “base financial year cap”). (c) The total cost to the Corporation in each twelve (12) month period following the base financial year, of all terms and conditions of this collective agreement, including as amended either through the Transition Committee, collective bargaining or otherwise, shall not exceed the base financial year cap plus an additional, cumulative amount of fifteen million dollars ($15,000,000) for each twelve (12) month period following the base financial year (the “financial cap”). (d) The base financial year cap and financial cap shall include all expenses of the Corporation (e) However, it is understood that costs resulting from an increase in mail volumes or point of call growth shall not be included in the financial cap. (f) In the event the actual costs in any twelve (g) In the event that the costs agreed to by the parties in any twelve (12) month period are lower than the base year financial cap or the financial cap, the fifteen million dollars ($15,000,000) for the following fiscal year shall be upwardly adjusted accordingly.

Financial Cap. The first full year of this collective agreement shall constitute the base financial year (the “base financial All additional costs incurred by the Corporation as a result of the inclusion of rural and suburban mail carriers as employees shall be limited to twenty-nine million dollars ($29,000,000) in the first year (the “base financial year cap’?. The total cost to the Corporation in each twelve (12) month period following the base financial year, of all terms and conditions of this collective agreement, including as amended either through the Transition Committee, collective bargaining or otherwise, shall not exceed the base financial year cap plus an additional, cumulative amount of fifteen million dollars ($15,000,000) for each twelve (12) month period following the base financial year (the cap’?. The base financial year cap and financial cap shall include all expenses of the Corporation including salaries, costs related to all forms of leave, insurance premiums, employment insurance premiums, workers’ compensation costs, pension plan contributions, vehicle expenses, all amounts payable under this collective agreement and any other amount the parties agree to include. However, it is understood that costs resulting from an increase in mail volumes or point of call growth shall not be included in the financial cap. The financial cap shall bear the impact of a negotiated increase affecting the cost of growth in mail volumes or points of call. In the event the actual costs in any twelve (12) month period exceed the base financial year cap or the financial cap, the fifteen million dollars ($15,000,000) for the following year shall be reduced accordingly such that the financial cap is met. In the event that the costs agreed to by the parties in any twelve (12) month period are lower than the base year financial cap or the financial cap, the fifteen million dollars ($15,000,000) for the following fiscal year shall be upwardly adjusted accordingly.

Financial Cap. Subject to clauses 12.1 and 12.2, our total aggregate liability to you in respect of any Contract Year in contract, tort (including negligence or breach of statutory duty, misrepresentation, restitution or otherwise), arising from or in connection with the performance or contemplated performance of this Framework and each Agreement (excluding liability under the indemnity in clause 9.3) shall be limited as follows: (a) in aggregate inrelation to each Agreement, to the greater of (i) an amount equal to 100% of the total amount payable to us in the previous Contract Year and (ii) $25,000; and

Financial Cap. Notwithstanding anything to the contrary in this Agreement, the liability of the Approved Inspector under or in connection with this Agreement whether in contract or in tort [delict], in negligence, for breach of statutory duty or otherwise (other than in respect of personal injury or death) shall not exceed in aggregate the sum of ten times the total fee. If no amount is inserted above, the liability of the Approved Inspector shall not exceed in aggregate a multiple of ten times the total of the fees payable to the Approved Inspector by the Client.

Financial Cap. (a) The first full year of this collective agreement shall constitute the base financial year (the “base financial year”). (b) All additional costs incurred by the Corporation as a result of the inclusion of rural and suburban mail carriers as employees shall be limited to twenty-nine million dollars ($29,000,000) in the first year (the “base financial year cap”). (c) The total cost to the Corporation in each twelve (12) month period following the base financial year, of all terms and conditions of this collective agreement, including as amended either through the Transition Committee, collective bargaining or otherwise, shall not exceed the base financial year cap plus an additional, cumulative amount of fifteen million dollars ($15,000,000) for each twelve (12) month period following the base financial year (the “financial cap”). (d) The base financial year cap and financial cap shall include all expenses of the Corporation including salaries, costs related to all forms of leave, insurance premiums, employment insurance premiums, workers’ compensation costs, pension plan contributions, vehicle expenses, all amounts payable under this collective agreement and any other amount the parties agree to include. (e) However, it is understood that costs resulting from an increase in mail volumes or point of call growth shall not be included in the financial cap. (f) In the event the actual costs in any twelve (12) month period exceed the base financial year cap or the financial (g) In the event that the costs agreed to by the parties in any twelve (12) month period are lower than the base year financial cap or the financial cap, the fifteen million dollars ($15,000,000) for the following fiscal year shall be upwardly adjusted accordingly.

Financial Cap. Subject to clauses 12.1 and 12.2, our total aggregate liability to you in respect of any Contract Year in contract, tort (including negligence or breach of statutory duty, misrepresentation, restitution or otherwise), arising from or in connection with the performance or contemplated performance of this Framework and each Agreement (excluding liability under the indemnity in clause 9.3) shall be limited as follows: (a) in aggregate in relation to each Agreement, to the greater of (i) an amount equal to 100% of the total amount payable to us in the previous Contract Year and (ii) £25,000; and (b) in the aggregate under this Framework, to £1,000,000, so that under no circumstances will our total aggregate liability under or in relation to this Framework (including all Agreements) in a Contract Year exceed

Related to Financial Cap

Financial Capacity (a) Taking into account the Financing Commitment, such Purchaser has, and at the Closing will have, sufficient resources to pay, in cash any and all amounts necessary for it to consummate the transactions contemplated hereby at the Closing, including payment of its Pro Rata Share of the Seller Purchase Price and the Company Purchase Price, and in the case of Purchaser A only, the Additional Company Purchase Price and the Election Purchase Price (to the extent payable hereunder) and all the fees and expenses expressly required to be paid by such Purchaser hereunder without any restrictions to transfer such funds at Closing to the Seller and the Company, as and to the extent required to be paid pursuant to, and subject to the terms of, this Agreement. The Sponsor affiliated with such Purchaser has, and at the Closing will have, sufficient resources to meet its obligations under its Commitment Letter as they become due. (b) As of the date of this Agreement, such Purchaser has delivered to the Seller a true, correct and complete copy of the Commitment Letter provided by its affiliated Sponsor, dated as of the date hereof. Such Commitment Letter has not been amended or modified, and the respective commitments contained in such Commitment Letter have not been withdrawn, terminated or rescinded. Such Commitment Letter (i) is in full force and effect, (ii) constitutes the legal, valid and binding obligation of such Purchaser and the Sponsor party thereto, and (iii) is enforceable by the Seller and the Company against such Purchaser and the Sponsor party thereto, in accordance with its terms, subject to bankruptcy, insolvency, reorganization and other Legal Requirements of general applicability relating to or affecting creditors’ rights and to general equity principles. There are no side letters or other Contracts related to the funding or investing, as applicable, of the applicable Financing Commitment other than such Commitment Letter. There are no conditions precedent to the consummation of such Financing Commitment other than those set forth in such Commitment Letter. As of the date of this Agreement, the Sponsor affiliated with such Purchaser is not subject to bankruptcy proceedings. (c) Notwithstanding anything to the contrary contained herein, in no event shall this Section 4.4 be deemed breached (and no condition set forth in Section 6.3 shall be deemed to have failed as a result of any actual or alleged breach of this Section 4.4), if (notwithstanding any actual or alleged breach), such Purchaser is willing and able to consummate its obligations at the Closing if and when it is otherwise required to do so under the terms and conditions of this Agreement.
Financial Capability At Closing, the Investor will have available funds necessary to consummate the Closing on the terms and conditions contemplated by this Agreement and has the ability to bear the economic risks of its prospective investment in the Purchased Shares and can afford the complete loss of such investment.
Experience, Financial Capability and Suitability Subscriber is: (i) sophisticated in financial matters and is able to evaluate the risks and benefits of the investment in the Shares and (ii) able to bear the economic risk of its investment in the Shares for an indefinite period of time because the Shares have not been registered under the Securities Act (as defined below) and therefore cannot be sold unless subsequently registered under the Securities Act or an exemption from such registration is available. Subscriber is capable of evaluating the merits and risks of its investment in the Company and has the capacity to protect its own interests. Subscriber must bear the economic risk of this investment until the Shares are sold pursuant to: (i) an effective registration statement under the Securities Act or (ii) an exemption from registration available with respect to such sale. Subscriber is able to bear the economic risks of an investment in the Shares and to afford a complete loss of Subscriber’s investment in the Shares.
Financial Contractor shall provide all financial information requested on Contractor’s Annual Budget attached hereto and incorporated herein by reference as Appendix E and the Contractor’s Semi-Annual Budget Expenditures Report provided by the Board and attached hereto and incorporated herein by reference as Appendix F.
Financial contribution 1. The Union shall pay Seychelles a financial contribution in accordance with the terms and conditions laid down in the implementing Protocol to this Agreement. That contribution shall consist of two related elements, namely: (a) access to the Seychelles fishing zone and fisheries resources, without prejudice to the access costs borne by the ship- owners; and (b) Union's financial support for reinforcing responsible fishing policy and the sustainable exploitation of fisheries resources in Seychelles' waters. 2. The component of the financial contribution for the sectoral support referred to in point (b) of paragraph 1 shall be independent of the payments regarding access costs and shall be determined and managed in the light of the objectives identified by mutual consent between the Parties in accordance with the implementing Protocol to this Agreement, to be achieved in the context of the sectoral fisheries policy of Seychelles and the annual and multi-annual programme for its implementation. 3. The financial contribution granted by the Union shall be paid each year in accordance with the implementing Protocol to this Agreement and subject to this Agreement: (a) the amount of the contribution referred to in point (a) of paragraph 1 may be revised by the Joint Committee in respect of: (i) exceptional circumstances, other than natural phenomena, preventing fishing activities in the Seychelles fishing zone; (ii) a reduction in the fishing opportunities granted to Union vessels, made by mutual agreement between the Parties for the purposes of managing the stocks concerned, where this is considered necessary for the conservation and sustainable exploitation of resources on the basis of the best available scientific advice; (iii) an increase in the fishing opportunities granted to Union vessels, made by mutual agreement between the Parties where the best available scientific advice concurs that the state of resources so permits; (b) the amount of the contribution referred to in point (b) of paragraph 1 may be revised as a result of a reassessment of the terms of the financial contribution for implementing the sectoral fisheries policy of Seychelles, where this is warranted by the specific results of the annual and multiannual programming observed by both Parties; (c) the contribution referred to in paragraph 1 may be suspended as a result of the application of Article 16 or 17 of this Agreement.
Financial Controls At all times, the Charter School shall maintain appropriate governance and managerial procedures and financial controls which procedures and controls shall include, but not be limited to: (1) commonly accepted accounting practices and the capacity to implement them (2) a checking account; (3) adequate payroll procedures; (4) procedures for the creation and review of monthly and quarterly financial reports, which procedures shall specifically identify the individual who will be responsible for preparing such financial reports in the following fiscal year; (5) internal control procedures for cash receipts, cash disbursements and purchases; and (6) maintenance of asset registers and financial procedures for grants in accordance with applicable state and federal law.
Leverage The Fund has no liability for borrowed money or under any reverse repurchase agreement.
FINANCIAL CONTRIBUTIONS (§5.d): Owner shall use reasonable efforts to seek contributions and grants from Capital Metro Transit Authority (CMTA) and Xxxxxx County.
Financial Consequences The Department reserves the right to impose financial consequences when the Contractor fails to comply with the requirements of the Contract. The following financial consequences will apply for the Contractor’s non-performance under the Contract. The Customer and the Contractor may agree to add additional Financial Consequences on an as-needed basis beyond those stated herein to apply to that Customer’s resultant contract or purchase order. The State of Florida reserves the right to withhold payment or implement other appropriate remedies, such as Contract termination or nonrenewal, when the Contractor has failed to comply with the provisions of the Contract. The Contractor and the Department agree that financial consequences for non-performance are an estimate of damages which are difficult to ascertain and are not penalties. The financial consequences below will be paid and received by the Department of Management Services within 30 calendar days from the due date specified by the Department. These financial consequences below are individually assessed for failures over each target period beginning with the first full month or quarter of the Contract performance and every month or quarter, respectively, thereafter. Deliverable Performance Metric Performance Due Date Financial Consequence for Non-Performance Contractor will timely submit completed Quarterly Sales Reports All Quarterly Sales Reports will be submitted timely with the required information Reports are due on or before the 30th calendar day after the close of each State fiscal quarter $250 per Calendar Day late/not received by the Contract Manager Contractor will timely submit completed MFMP Transaction Fee Reports All MFMP Transaction Fee Reports will be submitted timely with the required information Reports are due on or before the 15th calendar day after the close of each month $100 per Calendar Day late/not received by the Contract Manager
Financial Close 23.1.1 The Concessionaire hereby agrees and undertakes that it shall achieve Financial Close within 180 (one hundred and eighty) days from the date of this Agreement and in the event of delay, it shall be entitled to a further period not exceeding 120 (one hundred and twenty) days, subject to payment of Damages to the Authority in a sum calculated at the rate of 0.2% (zero point two per cent) of the Performance Security for each day of delay, and for a further period not exceeding 80 (eighty) days, subject to payment of Damages at the rate specified in Clause 4.3; provided that the Damages specified herein shall be payable every week in advance and the period beyond the said 180 (one hundred and eighty) days shall be granted only to the extent of Damages so paid; provided further that no Damages shall be payable if such delay in Financial Close has occurred solely as a result of any default or delay by the Authority in procuring satisfaction of the Conditions Precedent specified in Clause 4.1.2 or due to Force Majeure. For the avoidance of doubt, the Damages payable hereunder by the Concessionaire shall be in addition to the Damages, if any, due and payable under the provisions of Clause 4.3. 23.1.2 The Concessionaire shall, upon occurrence of Financial Close, notify the Authority forthwith, and shall have provided to the Authority, at least 2 (two) days prior to Financial Close, 3 (three) true copies of the Financial Package and the Financial Model, duly attested by a Director of the Concessionaire, along with 3 (three) soft copies of the Financial Model in MS Excel version or any substitute thereof, which is acceptable to the Senior Lenders.

Financial Cap Sample Clauses

Filter & Search

Related Clauses

Parent Clauses

Sub-Clauses

Related to Financial Cap