Income support. Employees who are made redundant as the result of a situation as described in section 1 of this Article and who belong to the target group in section 2 of this Article are entitled to either the legal transition allowance from their employer or, if that is more favourable for the employee, to a supplement of 15% of their last-earned salary during the period of wage-related WW benefit to which the employee is entitled as of the dismissal date, with a maximum of three years.
Income support. Mitigating the impact of exceptional circumstances on income This chapter contains the following basic provisions.
Income support. (a) Subject to and in accordance with the provisions of this Section 28 and the Income Support Agreement attached hereto as Exhibit P (the “Income Support Agreement”), if, after the Closing, the NOI for the Property for any Quarter is less than $775,000.00 (the “Quarterly Threshold”), Seller shall pay to Purchaser the difference between the Quarterly Threshold and the actual NOI for such Quarter (the “Income Support Payment”) within thirty (30) days after receipt of notice from Purchaser, setting forth in reasonable detail the calculation of NOI for such Quarter. A “Quarter” shall be a period of three (3) consecutive calendar months, commencing, with respect to the first Quarter, on the first day of the first (1st) calendar month after the month in which the Closing Date occurs, and with respect to each subsequent Quarter, on the day immediately following the end of the preceding Quarter. A “Year” shall be a period of four (4) consecutive Quarters, commencing, with respect to the first Year, on the first day of the first Quarter as defined in the immediately preceding sentence, and with respect to each subsequent Year, on the day immediately following the end of the preceding Year.
(b) At the end of any Year during which Seller has made any Income Support Payments pursuant to Section 28(a), Seller and Purchaser shall reconcile any Income Support Payments made over such Year as follows: (i) if the NOI for the Property for such Year is less than $3,100,000.00 (the “Annual Threshold”), Seller shall pay to Purchaser the difference between the Annual Threshold and the actual NOI for such Year, less the amount of any Income Support Payments paid by Seller during such Year, and (ii) if the NOI for the Property for such Year is equal to or more than the Annual Threshold, Purchaser shall pay to Seller the amount of any Income Support Payments paid by Seller during such Year. The reconciliation pursuant to this Section 28(b) shall occur within thirty (30) days after the end of a Year, and Seller or Purchaser, as applicable, will make any required payment to the other party within thirty (30) days after the reconciliation. Notwithstanding anything to the contrary contained in this Section 28(b), Seller shall not be required to make the payment set forth in clause (i) of the first sentence of this Section 28(b) if Seller’s obligations under this Section 28 have terminated pursuant to Section 28(c) prior to the reconciliation.
(c) Notwithstanding anything to the contra...
Income support. Seller shall provide to Purchaser a credit at Closing in an amount equal to the Income Support as further detailed in the Company Disclosure Letter.
Income support. Very significant additional resources are being made available in 2006 to help tackle child and family poverty. Actions to make further progress towards the objective of eliminating child poverty will include: • Progress towards the existing NAPS target for those relying on social welfare payments, which the parties agree remains valid and appropriate – i.e. that the combined value of child income support measures be set at 33-35% of the minimum adult social welfare payment rate. • Progressing, as a priority, further work aimed at assisting children in families on low incomes. This could include enhancing existing provisions or the introduction of new or reformed mechanisms. Child income supports which avoid employment disincentives will be reviewed by the Department of Social and Family Affairs as a priority and this work, which will be informed by the NESC study on a second tier child income support, will be completed within one year. • Focusing on children in lone parent households and larger families, informed by the Government discussion paper on supports for lone parents, and a review of the re- focusing of the family income supplement in favour of larger families with low earnings.
Income support photocopies of the front cover and next two pages of the income support book should be produced
