Financial Limitations Sample Clauses
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 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% 123. 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. 124. 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. 125. 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 126. Appointments to new and vacant MEA-represented SFMTA positions eligible for inclusion shall be classified into MTAM. Appointments shall be to Range A, except as described below.
Financial Limitations. 3.1 The Sellers shall be under no liability in respect of any claim under the Sellers' Warranties unless the liability of the Sellers to the Purchaser and/or its assignees in respect of the claim would be more than £100,000 (one hundred thousand pounds) (excluding costs and interest) (a "Relevant Claim") provided that, for the purpose of this paragraph, claims arising from the same facts or circumstances shall be aggregated and regarded as a single Relevant Claim.
3.2 The Purchaser shall not be entitled to damages or any other payment or remedy in respect of any claim under the Sellers' Warranties unless and until the aggregate amount (excluding costs and interest) of all Relevant Claims under the Sellers' Warranties for which the Sellers are liable to the Purchaser and/or its assignees (entirely disregarding for the avoidance of doubt those claims for which the Sellers have no liability as a result of paragraph 3.1) shall exceed £4,000,000 (four million pounds) in which event the Sellers' liability shall be for the total amount of such claims and shall not be limited to the excess.
3.3 The total aggregate liability of:
(a) all the Sellers to the Purchaser and/or its assignees in respect of all claims under the Sellers' Warranties and the Tax Covenant (including costs and interest) shall not in any circumstances exceed £100,000,000 (one hundred million pounds) increased by, if such liability includes an amount in respect of interest, an amount equal to such interest re-calculated at the rate per annum of 1½per cent above the average (rounded upward when necessary to the nearest 1/16th of one per cent) of the London Inter Bank Offered Rates on each of the dates on which each successive 6 monthly period commences during the period for which such interest is calculated. The London Inter Bank Offered Rates for such dates shall be the rate at which Barclays Bank plc (or such other London banks as the Sellers shall nominate for this purpose) shall offer 6 month sterling deposits of £1,000,000 (one million pounds) to leading banks in the London Inter Bank Market at or about 11.00 am (London time) on such days. The certificate of Barclays Bank plc (or such other London bank as the Sellers shall nominate for the purpose) as to the rate of interest shall be conclusive and binding on the parties and, when determining the interest rate Barclays Bank plc shall be acting as an expert; and
(b) each Seller to the Purchaser and/or its assignees in respect of all claims und...
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% 166. 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. 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. Effective July 1, 2014, there will be no additional MTA funding towards MTAM B&C adjustments. Effective July 1, 2015, the aggregate value of Range B & C adjustments and placement of non-MTAM eligible employees into steps 6 and 7 shall not exceed one percent (1.0%) of SFMTA/MEA payroll (as defined by the Controller) per fiscal year. 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. 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 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).
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”).