INCENTIVE REFUND Sample Clauses

INCENTIVE REFUND. Upon Buyer complying with all construction requirements and receiving a certificate of occupancy, Seller will refund Buyer the sum of $7,500.
Sample 1
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INCENTIVE REFUND. (a) If this Lease does not continue until the Terminating Date for any reason other than the Lessor’s default, the Lessor may notify the Lessee of the Lessor’s determination of the proportion of any Incentive which must be repaid by the Lessee to the Lessor, calculated as follows: where: R = the amount to be repaid I = the amount of the Incentive actually provided in respect of this Lease TR = the number of months (to the nearest whole month) of the unexpired portion of the Term at the date of termination of this Lease T = the number of months in the Term (b) The Lessee must pay the Lessor the amount notified under paragraph (a) of this clause 13.6 within 7 days after receiving the Lessor’s notice. If the Lessee does not make this payment as required, the Lessor may call on the Bank Guarantee in accordance with clause 15. (c) The Lessee acknowledges that: (i) a fundamental assumption in the calculation of the Lessor’s Incentive granted by the Lessor to the Lessee in connection with the Lease was that the Lease would continue until the Terminating Date; (ii) by entering into the Lease the Lessee represented and warranted to the Lessor that provided there was no default of the Lessor entitling the Lessee to terminate before the Terminating Date the Lease would continue until the Terminating Date; (iii) the Lessor will suffer damages in the event that the Lease is terminated before the Terminating Date for reasons other than the default of the Lessor including that the Lessor’s Incentive was calculated on the basis of the assumption set out in clause 13.6(c)(i) and in reliance on the representation and warranty set out in clause 13.6(c)(ii); and (iv) the amount “R” represents a genuine pre-estimate of the damage which will be suffered by the Lessor in relation to the Lessor’s Incentive if this Lease does not continue until the Terminating Date for any reason other than due to the default of the Lessor (which acknowledgment is without limitation to any other loss or damage which the Lessor may suffer in connection with the early termination of this Lease and in no way limits the operation of clause 13.4).
Sample 1

Related to INCENTIVE REFUND

  • Annual Bonus Opportunity Your annual target bonus opportunity following the Effective Date will be 50% of your annual base salary (the “Target Bonus”). The Target Bonus shall be subject to review and may be adjusted based upon the Company’s normal performance review practices. Your actual bonuses shall be based upon achievement of performance objectives to be determined by the Board in its sole and absolute discretion. Bonuses will be paid as soon as practicable after the Board determines that such bonuses have been earned, but in no event will a bonus be paid to you after the later of (i) the fifteenth (15th) day of the third (3rd) month following the close of the Company’s fiscal year in which such bonus is earned or (ii) March 15 following the calendar year in which such bonus is earned.

  • Bonus Opportunity The Company shall offer each year an incentive bonus compensation plan. Such plan will include an annual bonus target amount equal to at least 50% of the Executive’s annual base salary and shall contain such additional terms as determined by the Chief Executive Officer. The amount of any bonus payable to Executive in any year shall be based upon performance targets established in advance under the bonus plan and Executive’s achievement of such performance criteria.

  • Cash Bonus Executive shall be entitled to a fraction of any Cash Bonus for the fiscal year of the Company within which Executive’s termination of employment occurs which, based upon the criteria established for such Cash Bonus, would have been payable to Executive had he remained employed through the date of payment, the numerator of which is the number of days of such fiscal year prior to his termination of employment and the denominator of which is three hundred and sixty-five (365); and

  • Annual Bonus In addition to Annual Base Salary, Executive shall be awarded, for each fiscal year ending during the Employment Period, an annual bonus (the “Annual Bonus”) in cash at least equal to Executive’s highest annual bonus for the last three full fiscal years prior to the Effective Date (annualized in the event that Executive was not employed by the Company for the whole of such fiscal year). Each such Annual Bonus shall be paid no later than the end of the third month of the fiscal year next following the fiscal year for which the Annual Bonus is awarded, unless Executive shall elect to defer the receipt of such Annual Bonus.

  • Cash Bonuses The Chief Executive Officer shall determine the Executive’s right to receive cash bonuses. Cash bonuses shall be awarded annually based upon the Executive’s and the Company’s annual performance pursuant to the Company’s policy. 5.

  • Bonus The Executive shall be eligible for Bonuses determined by the Board.

  • Incentive Payment 11.3.1 An employer may offer and an employee may accept an early retirement incentive based on the age at retirement to be paid in the following amounts Age at Retirement % of Annual Salary at Time of Retirement 11.3.2 An employer may opt to pay the early retirement incentive in three equal annual payments over a thirty-six (36) month period. 11.3.3 Eligible bargaining unit members may opt for a partial early retirement with a pro- rated incentive.

  • Employment Equity The Employer and the Union agree with employment equity programs which will assist visible minorities, persons with disabilities, First Nations people, and women in gaining entry into employment and which will provide opportunities for advancement.

  • Incentive Bonuses After the Company attains profitability, the Employee shall be eligible to be considered for an annual incentive bonus. Such bonus (if any) shall be awarded based on objective or subjective criteria established in advance by the Board or its Compensation Committee. The determinations of the Board or its Compensation Committee with respect to such bonus shall be final and binding. Except as expressly provided in this Agreement, the Employee shall not be entitled to an incentive bonus if he is not employed by the Company on the date when such bonus is payable.

  • Incentive Bonus During the Term, Employee shall be eligible to receive an incentive bonus up to the amount, based upon the criteria, and payable in such amount, at such times as are specified in Exhibit A attached hereto. The manner of payment, and form of consideration, if any, shall be determined by the Compensation Committee of the Board, in its sole and absolute discretion, and such determination shall be binding and final. To the extent that such bonus is to be determined in light of financial performance during a specified fiscal period and this Agreement commences on a date after the start of such fiscal period, any bonus payable in respect of such fiscal period's results may be prorated. In addition, if the period of Employee's employment hereunder expires before the end of a fiscal period, and if Employee is eligible to receive a bonus at such time (such eligibility being subject to the restrictions set forth in Section 6 below), any bonus payable in respect of such fiscal period's results may be prorated.

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