Financial Limitations. For the term of this Agreement, the following percentages of SFMTA/MEA payroll (as defined by the Controller) per fiscal year shall be available for ongoing wage increases and for one-time payments for Range B & C adjustments and placement of non-MCCP eligible employees into step 6 through 9: Ongoing Wage Increases One-Time Payments FY22-23 0.25% 1.00% FY23-24 0.25% 1.00% 128. Unused annual MTAM B & C funds shall not roll over, however, it is the intent of the parties that allocated funding shall be exhausted each year. Not later than May 15 of each year, the Adjustment Committee will meet and discuss how to distribute any remaining funds. In the absence of an agreement on an alternative, such remaining funds will be distributed equally to employees across the MTA departmental pool, excluding Proposition F appointees. 129. Adjustment Committee. A Committee consisting of the Controller (or designee), the Director of Transportation (or designee), and a designated representative of MEA (the Adjustment Committee) will consider the application made by Director of Transportation for placement of incumbent employees at a rate of pay in Ranges B and C. Subject to the applicable financial limitations and criteria, the Adjustment Committee will decide in its sole discretion whether to approve such applications in whole or in part. Decisions of the committee are final and not subject to the grievance procedure. Any confidential personnel information made available to committee members for purposes of determining decisions of the committee will be maintained in confidence. 130. MTAM Post-Appointment Review Process., MTA shall establish and publish the following procedures by July 1st of each fiscal year to inform employees of the basis on which adjustments will be provided: • Performance Measurement Standards • Submission and Review Procedures • Timelines Placement in New and Vacant Positions
Financial Limitations. 2.1 All Relevant Claims in respect of which notice is given in accordance with this agreement shall be paid and settled first by means of release of all or part of the Warranty Holdback Amount from the Holdback Account in accordance with Clause 5. For the avoidance of doubt, once all of the Warranty Holdback Amount has been released from the Holdback Account, the Warrantors shall continue to be liable for Relevant Claims subject only to the other provisions of this Schedule 5.
2.2 The total aggregate liability of all Warrantors for all Claims, Indemnity Claims and Tax Covenant Claims shall not exceed the amount of the Cap Amount.
2.3 The total aggregate liability of each Warrantor for all Claims, Indemnity Claims and Tax Covenant Claims shall be limited to the amount which is equal to the Cap Amount multiplied by the percentage set opposite that Warrantor’s name in Column (2) in the table below.
(1) Warrantor (2) Percentage/%
(1) Warrantor (2) Percentage/% Total 100 %
2.4 For the purposes of the limits in Paragraphs 2.2 and 2.3 above:
2.4.1 in calculating the maximum aggregate liability of each Warrantor in accordance with Paragraph 2.3 above, there shall be taken into account and included amounts released to the Buyers from the Warranty Holdback Amount in respect of Settled Claims and Tax Covenant Claims and which are attributable to that Warrantor, that is, there shall be taken into account for each Warrantor the amount so released to the Buyers from the Warranty Holdback Amount multiplied by the percentage set opposite the name of that Warrantor in column (2) of the table above; and
2.4.2 the liability of the Warrantors shall exclude the amount of all costs, expenses and other liabilities (together with any VAT thereon) payable by the Warrantors and/or the Sellers in connection with the satisfaction, settlement or determination of any Claim or Tax Covenant Claim.
2.5 Subject to Paragraph 2.6, the Warrantors shall not be liable for any General Claim unless the amount of such General Claim, when taken together with the amount of all other General Claims (each exceeding £3,000 in accordance with paragraph 2.6), exceeds £400,000 (four hundred thousand pounds sterling) (the “Threshold”) in which event the Warrantors shall be liable for the whole amount of such General Claims and not merely the amount by which the amount of the same exceeds the Threshold.
2.6 The Warrantors shall not be liable for any General Claim which does not exceed £3,000 (three thousand...
Financial Limitations. The Company covenants that it will not permit at any time:
Financial Limitations. Effective July 1, 2014, there will be no additional city funding towards MCCP B & C adjustments. Effective July 1, 2015, the aggregate value of Range B & C adjustments and placement of non-MCCP eligible employees into step 6 and 7 shall not exceed one percent (1.0%) of MEA covered payroll (as defined by the Controller) each year for fiscal years 2015-2016, 2016-2017, 2017-2018 and 2018- 2019. Each year, one-quarter of the allocation for that year shall be available for ongoing wage increases and the remaining three-quarters of the allocation shall be available for one-time payments.
Financial Limitations. For the term of this Agreement, the following percentages of MEA covered payroll (as defined by the Controller) shall be available for ongoing wage increases and one-time payments for Range B & C adjustments and placement of non- MCCP eligible employees into step 6 and 7: Ongoing Wage Increases One-Time Payments FY19-20 0.25% 0.90% FY20-21 0.25% 0.90% FY21-22 0.25% 1.00% 169. Status Grants. Employees must submit requests for status grants under Appendix D of this Agreement by December 31, 2019. The City will discontinue allowing status grants into MCCP classifications for requests received after December 31, 2019, at which point Appendix D shall expire.
Financial Limitations. For the term of this Agreement, the following percentages of MEA covered payroll (as defined by the Controller) shall be available for ongoing wage increases and one-time payments for Range B & C adjustments and placement of non- MCCP eligible employees into step 6 through 9: Ongoing Wage Increases One-Time Payments FY22-23 0.25% 1.00% FY23-24 0.25% 1.00% 174. In accordance with the dates set forth in the “Financial Limitations” paragraph above, a proportional pool of MCCP B & C funds will be calculated and segregated for Department Head allocations.
Financial Limitations. 2.1 In no event shall the aggregate liability of the Vendor in respect of all claims under this Agreement or under Schedule 4 (including for any sums due under Schedule 8) exceed the Consideration actually received by the Vendor or that would have been received by the Vendor save for the operation of the provisions of Schedule 9.
2.2 The Purchaser shall not be entitled to claim against the Vendor under the Warranties (other than in respect of Warranties 1.3, 1.4 and 1.5) or under Part 3 of Schedule 4 :
Financial Limitations. The aggregate value of Range B & C adjustments and placement of non-MTAM eligible employees into steps 6 and 7 all such new placements shall not exceed one-half percent (0.5%) of SFMTA/MEA payroll (as defined by the Controller) per fiscal year. Each year, one-half of the allocation for that year shall be available for ongoing wage increases and the remaining one-half of the allocation shall be available for one-time payments. Any unused funds shall roll over and be available for these purposes the following fiscal year.
Financial Limitations. The maximum aggregate liability of each Seller in respect of a Claim for breach of any Sellers’ Representations by such Seller shall not exceed its Pro Rata Portion of the effectively paid portion of the Purchase Price (including, for the avoidance of doubt, any portion(s) of the Earn-out Amount, to be included if and when earned) (the “Effectively Paid Portion of the Purchase Price”).
Financial Limitations. The Borrower with the financial information of its Affiliates and Subsidiaries will have to comply during the effectiveness period of the Agreement with the following financial indicators which will me measured in quarterly form, according to what is established in the financial statements prepared in accordance to GAAP:
(i) The Borrower will not allow the Consolidated Leverage Ratio to exceed 3.5 to 1.
(ii) The Borrower will not allow the Consolidated Fixed Charge Coverage Ratio to be, at any moment, less than 2.5 to 1 for any period of four consecutive trimesters.
(iii) On the date on which the Borrower delivers to the Bank the information to which the Eleventh clause, subsection (a) of this Agreement makes reference, the Borrower will deliver the Bank a signed certificate by a Responsible Officer that contains all the information and calculations necessary to determine the Borrower’s adherence to the provisions contained in subsections (a) (i) and (ii).
