Full Replacement Value Sample Clauses

Full Replacement Value. For the purposes of paragraph 14.1 "full replacement value" of any building, improvements or equipment shall be determined by the Tenant at the time the insurance is initially taken out and thereafter at least once every 12 months, and the Tenant shall promptly notify the Landlord in writing of each such determination, provided that the Landlord may at any time, by written notice to the Tenant, require the full replacement value of any building, improvement or equipment to be redetermined by an independent qualified valuator designated by the insurer's agent. Such redetermination shall be made promptly and the results thereof communicated in writing to the Tenant and the Landlord.
Sample 1
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Full Replacement Value. The term "Full Replacement Value" of Improvements, as used in Section 16(A) hereinabove and in this Lease, shall mean the actual replacement cost of the Improvements from time to time less exclusions provided in the normal fire insurance policy. If either Lessor or Lessee believes that the Full Replacement Value (that is to say, the then replacement cost less exclusions) has increased or decreased, either Lessor or Lessee, as the case may be, shall have the right, but, except as provided below, only at intervals of not less than ten (10) years, to have such Full Replacement Value redetermined by an independent MAI appraisal, the cost of which shall be paid by Lessee as Additional Rent. The determination of the MAI appraiser(s) shall be final and binding on the Parties, and Lessee shall promptly increase (or may decrease) the amount of the insurance carried pursuant to this Section 16, as the case may be, to the amount so determined by the MAI appraiser(s). The determination shall be binding for a period of ten (10) years, and subsequently until superseded by agreement between the Parties or by a subsequent redetermination by MAI appraisal in the manner set forth hereinabove. If during any such ten (10)-year period, Lessee shall have made subsequent, new Improvements to the Leased Premises, Lessor may have such Full Replacement Value redetermined at any time after the subsequent, new Improvements are made, regardless of when the Full Replacement Value was last determined.
Sample 1
Full Replacement Value. The amounts required herein may be modified from time to time by Franchisor to reflect inflation or future experience with claims. C. The insurance afforded by the policy or policies respecting liability shall not be limited in any way by reason of any insurance which may be maintained by Franchisor. Within 90 days of the signing of this Agreement, but in no event later than the date on which Franchisee acquires an interest in the real property from which it will operate the Franchised Retail Business, a Certificate of Insurance showing compliance with the foregoing requirements shall be furnished by Franchisee to Franchisor for approval. Such certificate shall state that said policy or policies will not be canceled or altered without at least 20 days prior written notice to Franchisor and shall reflect proof of payment of premiums. Maintenance of such insurance and the performance by Franchisee of the obligations under this Paragraph shall not relieve Franchisee of liability under the indemnity provision set forth in this Agreement. Minimum limits as required above may be modified from time to time, as conditions require, by written notice to Franchisee. D. Should Franchisee, for any reason, not procure and maintain such insurance coverage as required by this Agreement, Franchisor shall have the right and authority (without, however, any obligation to do so) immediately to procure such insurance coverage and to charge same to Franchisee, which charges, together with a reasonable fee for expenses incurred by Franchisor in connection with such procurement, shall be payable by Franchisee immediately upon notice.
Sample 1

Related to Full Replacement Value

  • VALUATION PERIOD Each Division will be valued at the end of each Valuation Period on a Valuation Date. A Valuation Period is each Business Day together with any non-Business Days before it. A Business Day is any day the New York Stock Exchange (NYSE) is open for trading, and the SEC requires mutual funds, unit investment trusts, or other investment portfolios to value their securities. ACCUMULATION VALUE The Accumulation Value of this Contract is the sum of the amounts in each of the Divisions of the Variable Separate Account and General Account. You select the Divisions of the Variable Separate Account and General Account to which to allocate the Accumulation Value. The maximum number of Divisions to which the Accumulation Value may be allocated at any one time is shown in the Schedule. ACCUMULATION VALUE IN EACH DIVISION ON THE CONTRACT DATE On the Contract Date, the Accumulation Value is allocated to each Division as elected by you, subject to certain terms and conditions imposed by us. We reserve the right to allocate premium to the Specially Designated Division during any Right to Examine contract period. After such time, allocation will be made proportionately in accordance with the initial allocation(s) as elected by you. ON EACH VALUATION DATE At the end of each subsequent Valuation Period, the amount of Accumulation Value in each Division will be calculated as follows:

  • Weekend Differential Employees assigned to State institutions other than Maine State Prison shall be eligible for a weekend differential of fifty cents ($.50) per hour to the base for shifts beginning between 10:00 p.m. Friday and 9:59 p.m.

  • EXTENDED SERVICE 156 Upon application, a military leave of absence (without pay) will be granted to employees who are employed in other than temporary positions. This applies to employees who are inducted through a selective service system or voluntary enlistment, or if the employee is called through membership in the National Guard or reserve component into the Armed Forces of the United States.

  • Settlement Averaging Period For any Option and regardless of the Settlement Method applicable to such Option:

  • Bilingual Differential When formally assigned in the employee’s position description, an employee assigned to interpret to or from another language to English will receive a differential of five percent (5%) of base pay.

  • Night Shift Differential Unit 12 employees who regularly work shifts shall receive a night shift differential as set forth below: A. Employees shall qualify for the first night shift pay differential of forty (40) cents per hour where four (4) or more hours of the regularly scheduled work shift falls between 6 p.m. and 12 midnight. B. Employees shall qualify for the second night shift pay differential of fifty (50) cents per hour where four (4) or more hours of the regularly scheduled work shift fall between 12 midnight and 6 a.m. C. A "regularly scheduled work shift" are those regularly assigned work hours established by the department director or designee.

  • Shift Differential A. Shift differential will be $.60 cents per hour. B. Employees eligible for shift differential are those whose work shift begins before 6:00 a.m. or ends on or after 7:00 p.m. and are scheduled by their supervisor for a total shift of at least six (6) hours in duration. This shift differential shall not apply to those employees who have requested and have been granted flexible work scheduling.

  • Settlement Amount If the Non-Defaulting Party has declared an Early Termination Date pursuant to Section 7.2(b), the Non-Defaulting Party shall have the right to (i) accelerate all amounts owing between the Defaulting Party and the Non-Defaulting Party and to liquidate and terminate the undertakings set forth in this Agreement as between the Defaulting Party and the Non-Defaulting Party; and (ii) withhold any payments due to the Defaulting Party under this Agreement pending payment of the Termination Payment. The Non-Defaulting Party will calculate, in a commercially reasonable manner, the Settlement Amount with respect to the Defaulting Party’s obligations under the Agreement and shall net the Settlement Amount in the manner provided for in Section 7.3(c).

  • Compensatory Time Cash Out All compensatory time must be used by June 30th of each year. If compensatory time balances are not scheduled to be used by the employee by April of each year, the supervisor will contact the employee to review their schedule. The employee’s compensatory time balance will be cashed out every June 30th or when the employee: 1. Leaves state service for any reason; 2. Transfers to a position in their institution with different funding sources; or 3. Transfers to another state agency or institution.

  • Shift Differential Pay SECTION 1: In addition to compensation provided by the wage schedule, employees working between the hours of 3:00 P.M. and 7:00 A.M. shall be paid a shift differential premium of $.45 (forty-five cents) per hour in addition to the regular pay for those hours. SECTION 2: Employees must work a minimum of 3 (three) hours in order for shift differential to apply.

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