Grant of Relief and Compensation for Compensation Events Sample Clauses

Grant of Relief and Compensation for Compensation Events. (a) The Developer will be entitled to an extension of time, relief from its obligations or compensation (as applicable) in accordance with Section 28.6(b) (Grant of Relief and Compensation for Compensation Events), only if the Developer has satisfied all of the following: (i) complied with its obligations under Section 28.2 (Notice and Information for Compensation Events) and Section 28.3 (Mitigation); (ii) demonstrated to the reasonable satisfaction of the District that a Compensation Event has occurred; (iii) demonstrated to the reasonable satisfaction of the District that: (A) the Compensation Event was the direct cause or is reasonably likely to be the direct cause of: (1) a delay in achieving Project Final Completion by the Guaranteed Project Final Completion Date or, following the Guaranteed Project Final Completion Date, further delay in achieving Project Final Completion; (2) the Developer’s inability to comply with its obligations under this Agreement; or (3) the Developer incurring a Change in Costs and/or Finance Costs; and (B) any extension of time, relief from its obligations or compensation for Change in Costs and Finance Costs could not reasonably be mitigated or recovered without material cost by the Developer acting in accordance with Good Industry Practice (including by re-sequencing, reallocating or redeploying its forces to other portions of the Conversion Work and/or Smart City Work). (b) If the Developer satisfies the conditions set out in Section 28.6(a) (Grant of Relief and Compensation for Compensation Events), the Developer will be entitled to an extension of time, relief from obligations or compensation (as applicable), as follows: (i) in the case of a delay demonstrated pursuant to Section 28.2 (Notice and Information for Compensation Events) the Guaranteed Project Final Completion Date and the Long Stop Deadline will be extended by such time as is reasonable, based on the Time Impact Analysis, for such a Compensation Event; (ii) subject to Section 28.7 (Calculation of Change in Costs), in the case of: (A) Capital Expenditure incurred by the Developer at any time; or (B) any other Change in Costs arising prior to Project Final Completion, demonstrated pursuant to Section 28.2 (Notice and Information for Compensation Events), the District shall, within thirty (30) days of the Contracting Officer’s determination under Section 28.6(c) (Grant of Relief and Compensation for Compensation Events) as to the Developer’s entitlement to co...
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Grant of Relief and Compensation for Compensation Events the Parties shall resolve the matter in accordance with the Dispute Resolution Procedures.
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Grant of Relief and Compensation for Compensation Events. 4.26.1.10.1 Network Operator’s right to Compensation Event Remedy is conditioned on Network Operator’s satisfaction of all of the following: 4.26.1.10.1.1 Network Operator strictly complies with all Notice and Mitigation obligations set forth in this Section 4.26 applicable to Compensation Events; and 4.26.1.10.1.2 Network Operator demonstrates to the reasonable satisfaction of MassTech that a Compensation Event has occurred; and 4.26.1.10.1.3 Network Operator demonstrates to MassTech’s reasonable satisfaction that the Compensation Event was the direct cause or is reasonably likely to be the direct cause of: (i) Network Operator’s inability to comply with its obligations under this Agreement; and/or (ii) Network Operator’s incurring Change in Costs.
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Related to Grant of Relief and Compensation for Compensation Events

  • Additional Compensation Notwithstanding anything in this Memorandum of Understanding to the contrary when in the judgment of the Board, it becomes necessary or desirable to utilize the services of County employees in capacities other than those for which they are regularly employed, the Board may authorize and, if appropriate, fix an additional rate of compensation for such employees.

  • Termination Compensation Termination Compensation equal to two (2) times the Executive's Base Period Income shall be paid to the Executive in a single sum payment in cash on the thirtieth (30th) business day after the later of (a) the Control Change Date and (b) the date of the Executive's employment termination; provided that if at the time of the Executive's termination of employment the Executive is a Specified Employee, then payment of the Termination Compensation to the Executive shall be made on the first day of the seventh (7th) month following the Executive's employment termination.

  • Compensation for Overtime Assigned overtime is designated as those hours over the regular hours of work which are requested of the employee by management. Assigned overtime worked shall be paid at the rate of time and one-half (1 1/2).

  • Payment of Compensation Consultant shall submit to City a monthly itemized statement which indicates work completed and hours of Services rendered by Consultant. The statement shall describe the amount of Services and supplies provided since the initial commencement date, or since the start of the subsequent billing periods, as appropriate, through the date of the statement. City shall, within 30 days of receiving such statement, review the statement and pay all approved charges thereon.

  • ADDITIONAL COMPENSATION AND BENEFITS The Executive shall receive the following additional compensation and welfare and fringe benefits:

  • COMPENSATION OF ULTIMUS The Trust, on behalf of each Fund, shall pay for the services to be provided by Ultimus under this Agreement in accordance with, and in the manner set forth in, Schedule B attached hereto, as such Schedule may be amended from time to time. If this Agreement becomes effective subsequent to the first day of a month or terminates before the last day of a month, Ultimus’ compensation for that part of the month in which the Agreement is in effect shall be prorated in a manner consistent with the calculation of the fees as set forth above. Payment of Ultimus’ compensation for the preceding month shall be made promptly.

  • Fees and Compensation Managers and Officers may receive such compensation and fees, if any, for their services, and such reimbursement for expenses, as may be determined by resolution of the Board.

  • Compensation for Losses Upon demand of any Lender (with a copy to the Administrative Agent) from time to time, the Borrower shall promptly compensate such Lender for and hold such Lender harmless from any loss, cost or expense incurred by it as a result of: (a) any continuation, conversion, payment or prepayment of any Loan other than a Base Rate Loan on a day other than the last day of the Interest Period for such Loan (whether voluntary, mandatory, automatic, by reason of acceleration, or otherwise); (b) any failure by the Borrower (for a reason other than the failure of such Lender to make a Loan) to prepay, borrow, continue or convert any Loan other than a Base Rate Loan on the date or in the amount notified by the Borrower; or (c) any assignment of a Eurodollar Rate Loan on a day other than the last day of the Interest Period therefor as a result of a request by the Borrower pursuant to Section 10.13; including any loss of anticipated profits and any loss or expense arising from the liquidation or reemployment of funds obtained by it to maintain such Loan or from fees payable to terminate the deposits from which such funds were obtained. The Borrower shall also pay any customary administrative fees charged by such Lender in connection with the foregoing. For purposes of calculating amounts payable by the Borrower to the Lenders under this Section 3.05, each Lender shall be deemed to have funded each Eurodollar Rate Loan made by it at the Eurodollar Rate for such Loan by a matching deposit or other borrowing in the London interbank eurodollar market for a comparable amount and for a comparable period, whether or not such Eurodollar Rate Loan was in fact so funded.

  • Compensation Benefits Etc During the Employment Period, the Manager shall be compensated as follows: (a) The Manager shall (i) receive an annual cash base salary, payable not less frequently than semi-monthly, which is not less than the annualized cash base salary payable to Manager as of the Effective Date; (ii) be entitled to at least as favorable annual incentive award opportunity under the Company's annual incentive compensation plan as he did in the calendar year immediately prior to the year in which the Change of Control Event occurs; and (iii) be eligible to participate in all of the Company's long-term incentive compensation plans and programs on terms that are at least as favorable to the Manager as provided to the Manager in the four calendar years prior to the Effective Date. (b) The Manager shall be entitled to receive fringe benefits, employee benefits, and perquisites (including, but not limited to, vacation, medical, disability, dental, and life insurance benefits) which are at least as favorable to those made generally available as of the Effective Date to all of the Company's salaried managers as a group. In addition, the Manager shall be eligible to participate in the Company's Supplemental Retirement Income Program ("SRIP"). (c) Notwithstanding any other provision of this Agreement (whether in this Section 4, in Section 6, or elsewhere), (i) the Board of Directors may authorize an increase in the amount, duration, and nature of and/or the acceleration of any compensation or benefits payable under this Agreement, as well as waive or reduce the requirements for entitlement thereto and (ii) the Company may deduct from amounts otherwise payable to the Manager such amounts as it reasonably believes it is required to withhold for the payment of federal, state, and local taxes.

  • Employment and Compensation The following terms and conditions will govern the Executive’s employment with the Company throughout the Term.

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