Income Based Clause Samples
The 'Income Based' clause defines how certain payments, obligations, or calculations are determined based on the income generated by a party, project, or asset. Typically, this clause outlines the method for measuring income, the relevant period for assessment, and any adjustments or exclusions that apply, such as deducting specific expenses or considering only net income. For example, royalties or fees might be calculated as a percentage of gross or net income. The core function of this clause is to ensure that financial obligations are proportionate to actual earnings, thereby aligning payments with the economic realities of the parties involved and providing flexibility in fluctuating income scenarios.
Income Based. We have a system of bursaries through which students coming from households in the lower range of incomes will receive an additional, non-repayable bursary from the University for the academic years 2008/09 and 2009/10: Bursaries will be offered as follows: • For students whose family residual income is £25,000 or below the bursary will be £900. This includes the minimum bursary (ie the difference between the maximum grant and the fee charged), payable to all students entitled to full state support. • For students whose family residual income is between £25,001 and £32,000 the bursary will be £600. For PGCE students, this support will be in addition to any other bursary support to which they may be entitled. The level of support available to students according to various household incomes is shown in Table 1. TABLE 1a: 2008/09: continuing students (those who started courses in 2006/07 or 2007/08) Family income bands Government grant University bursary Total financial support (examples within scales) Up to and including £18,360 £2,835 £900 £3,735 £18,361 to £25,000 £2,834-£1,729 £900 £3,734-£2,625 £25,001 to £32,000 £1,728-circa £820 £600 £2,328-circa £1,420 £32,000 to £39,305 Sliding scale from circa £819 down to £50 Not eligible £819 - £50 (min grant) TABLE 1b 2008/09: new students in 2008/09 Family Income bands Government Grant University bursary Total Financial Support Up to and including £25,000 £2,835 £900 £3,735 £25,001 to £32,000 Sliding scale from £2,834 down to circa £1,500 £600 £3,434 (£25,001 income) £2,100 (£32,000 income) £32,001 to £60,005 Sliding scale from circa £1,499 down to £50 Not eligible £1,499 (£32,001 income) £50 (£60,005 income) Table 1c: 2009/10: continuing students (those who started courses in 2006/07 or 2007/08) Family income bands Government grant* University bursary Total financial support (examples within scales) Up to and including £18,360 £2,906 £900 £3,806 £18,361 to £25,000 £2,905-£1,774 £900 £3,805-£2,674 £25,001 to £32,000 £1,773- circa £840 £600 £2,373-circa £1,440 £32,000 to £39,333 Sliding scale from circa £839 down to £50 Not eligible £839 - £50 (min grant) Table 1d: 2009/10: new students in 2009/10 and continuing students who were new in 2008/09 Family income bands Government grant* University bursary Total financial support (examples within scales) Up to and including £25,000 £2,906 £900 £3,806 £25,001 to £32,000 Sliding scale from £2,905 down to circa £1,500 £600 £3,505 (£25,001 income) £2,100 (£32,000 income) £...
Income Based. We shall adopt a system of bursaries through which students coming from households in the lower range of incomes will receive an additional grant from the University for academic year 2007/08, as follows: • For students who’s family residual income is £17,910 or below a bursary of £820. This includes the statutory £305 bursary. • For students who’s family residual income is between £17,910 and £25,500 in 2007 a bursary of £520. In future years this income threshold will be raised by at least the levels of increase in state support. For PGCE students, this support will be in addition to any other bursary support to which they may be entitled. The level of support available to students according to various household incomes is shown in Table 1. Family income bands Government grant University bursary Total financial support (examples within scales) Up to and including £17,910 £2,765 £820 £3,585 £17,911 to £25,500 Sliding scale from £2,765 down to circa £1,500 £520 £3,285 (£17,911 income) £2,604 (£22,000 income) £2,020 (£25,500 income) £25,501to £38,330 Sliding scale from circa £1,500 down to £50 Not eligible £1,500 (£25,500 income) £1,200 (£26,500 income) £1,042 (£28,000 income) £831 (£30,000 income) £50 (£37,425 income) For income between £17,911 and £27,120 the grant is reduced by £1 for every 36 by which family income exceeds £17,910. For income between £27,121 and £38,330 the grant is reduced by £1 for every £9.50 by which family income exceeds £27,120.
Income Based. We have a system of bursaries through which students coming from households in the lower range of incomes will receive an additional, non-repayable bursary from the University for academic year 2007/08: • For students whose family residual income is £17,910 or below the bursary is £820. This includes the statutory £305 bursary. • For students whose family residual income is between £17,910 and £25,500 the bursary is £520. In 2008/09 the bursary offer is being extended to reflect changes to the state support also offered to students. Bursaries will be offered as follows: • For students whose family residual income is £25,000 or below the bursary will be £900. This includes the minimum bursary (ie the difference between the maximum grant and the fee charged), payable to all students entitled to full state support. • For students whose family residual income is between £25,001 and £32,000 the bursary will be £600. For PGCE students, this support will be in addition to any other bursary support to which they may be entitled. The level of support available to students according to various household incomes is shown in Table 1. TABLE 1a: 2007/08: confirmed figures Family income bands Government grant University bursary Total financial support (examples within scales) Up to and including £17,910 £2,765 £820 £3,585 £17,911 to £25,500 Sliding scale from £2,765 down to circa £1,500 £520 £3,285 (£17,911 income) £2,604 (£22,000 income) £2,020 (£25,500 income) £25,501to £38,330 Sliding scale from circa £1,500 down to £50 Not eligible £1,500 (£25,500 income) £1,200 (£26,500 income) £1,042 (£28,000 income) £831 (£30,000 income) £50 (£37,425 income) TABLE 1b 2008/09: Estimated scales of household incomes that will apply to students who started courses in 2006/07 and 2007/08 Family Income bands Government Grant University bursary Total Financial Support Up to and including £18,360 £2,835 £900 £3,735 £18,361 to £25,000 £2,834 - £1,729 £900 £3,734 - £2,629 £25,001 to £32,000 £1,728 – circa £815 £600 £2,328 – circa £1,415 £32,001 to £39,305 Sliding scale from circa £814 down to £50 Not eligible £814 - £50 (min grant) Table 1c: New students in 2008/09 Family income bands Government grant University bursary Total financial support (examples within scales) Up to and including £25,000 £2,835 £900 £3,735 £25,001 to £32,000 Sliding scale from £2,834 down to circa £1,500 £600 £3,434 (£25,001 income) £2,100 (£32,000 income) £32,001to £60,000 Sliding scale from circa £1,499 down to £1...
Income Based. We have a system of bursaries through which students coming from households in the lower range of incomes will receive an additional, non-repayable bursary from the University for the academic years 2009/10 and 2010/11: Bursaries will be offered as follows: • For students whose family residual income is £25,000 or below the bursary will be £900. This includes the minimum bursary (i.e. the difference between the maximum grant and the fee charged), payable to all students entitled to full state support. • For students whose family residual income is between £25,001 and £32,000 the bursary will be £600. For PGCE students, this support will be in addition to any other bursary support to which they may be entitled. The level of support available to students according to various household incomes is shown in Table 1. TABLE 1a: 2009/10: continuing students (those who started courses in 2006/07 and 2007/08) Family income bands Government grant University bursary Total financial support (examples within scales) Up to and including £18,360 £2,906 £900 £3,806 £18,361 to £25,000 £2,905-£1,773 £900 £3,805-£2,673 £25,001 to £32,000 £1,772-circa £840 £600 £2,372-circa £1,440 £32,000 to £39,333 Sliding scale from circa £839 down to £50 Not eligible £839 - £50 (min grant) For household incomes between £18,361 and £27,819 the grant is reduced by £1 for every complete £5.86 by which the income exceeds £18,360. For incomes between £27,820 and £39,333 the grant is reduced by £1 for every complete £9.27 by which the income exceeds £27,819. TABLE 1b 2009/10: continuing students in 2009/10 for those who started courses in 2008/09 Family Income bands Government Grant University bursary Total Financial Support Up to and including £25,000 £2,906 £900 £3,806 £25,001 to £32,000 Sliding scale from £2,905 down to circa £1,710 £600 £3,505 (£25,001 income) £2,310 (£32,000 income) £32,001 to £60,032 Sliding scale from circa £1,709 down to £50 Not eligible £1,709 (£32,001 income) £50 (£60,032 income) The distinction in state support between new and continuing students is a result of changing government policy. For households incomes between £25,000 and £34,459 the grant is reduced by £1 for every complete £5.86 by which the income exceeds £25,000. For incomes between £34,460 and £60,032 the grant is reduced by £1 for every complete £20.59 by which the income exceeds £34,459. TABLE 1c 2009/10 & 2010/11: all students starting from 2009/10 Family Income bands Government Grant University bursar...