Midyear Adjustment. City will provide quarterly budget updates to airlines. If it appears to City during the course of any Fiscal Year, that the budgeted expenses or projected levels of airline activity City used to calculate the rents, fees, and charges set forth above are likely to vary by more than ten percent (10%) from actual results, City may make adjustments to such rents, fees, and charges at midyear. City shall provide Airline with at least thirty (30) days' advance written notice of any adjustments to be made under this paragraph, which shall include accompanying budget variances and calculations to demonstrate need for adjustment and resulting change in rates, fees and charges. Any such mid-year adjustment will be effective the first day of the month following notification period.

Midyear Adjustment. In the event revenues vary substantially and negatively from the amount projected in the Business Plan, Owner shall have the authority to request, negotiate and approve a midyear adjustment to the Business Plan.

Midyear Adjustment. 9.03.1 In addition to the provisions of Sections 9.02 and 9.04, the Authority shall have the right to adjust the estimated rates for rentals, fees, and charges payable by the Signatory Airlines at the midpoint of each Fiscal Year in accordance with this Section 9.03. 9.03.2 Approximately sixty (60) days prior to the end of the sixth month of the then current Fiscal Year, the Authority shall re-estimate the rates for rentals, fees, and charges payable hereunder, applicable to the last six months of the then current Fiscal Year, and shall then determine in accordance with Paragraph 9.03.5 whether a midyear adjustment to any rate(s) will be made. Said re-estimated rates shall be based upon any adjustment to Transfers required by this Agreement based upon the actual audited results for the preceding Fiscal Year and revised estimates of activity, 0&M Expenses, Capital Charges, Debt Service Coverage, and all other payments and reserves, as set forth in Exhibits N-F and D-F, for the then current Fiscal Year. 9.03.3 In the event midyear adjustments to rates are made by the Authority, the Authority shall notify the Signatory Airlines of the re-estimated rates approximately forty-five (45) days prior to the end of the sixth month of the then current Fiscal Year. Within twenty (20) days after the forwarding of said rates, the Authority shall, if requested by the Airline or another Signatory Airline, meet collectively with the Signatory Airlines at each Airport at a mutually convenient time for the purpose of discussing said re-estimated rates. The Authority shall make available to the Signatory Airlines any reasonably requested additional information relating to said rates. The Authority agrees to fully consider the comments and recommendations of the Signatory Airlines prior to finalizing the midyear adjusted rates. 9.03.4 Following said meeting, the Authority shall provide at least twenty (20) days advance written notification to the Signatory Airlines of the adjusted rates to become effective on the first day of the seventh month of the then current Fiscal Year, subject to the provisions of Paragraph 9.01.4. 9.03.5 Nothing in this Section 9.03 shall be construed to require that the Authority make a midyear adjustment to estimated rates at either Airport; provided further that the Authority shall not make any such midyear adjustment to any rate at an Airport if the total of rentals, fees, or charges payable by the Signatory Airlines at that Airport, using the then ...

Related to Midyear Adjustment

CPI Adjustment In this Agreement, “CPI-Adjusted” in reference to an amount means that amount is adjusted under the following formula: N  C  (1 CPIn  CPIc ) CPIc where: ”N” is the new amount being calculated; and “C” is the current amount being adjusted; and
Year-End Adjustment If necessary, on or before the last day of the first month of each fiscal year, an adjustment payment shall be made by the appropriate party in order that the amount of the investment advisory fees waived or reduced and other payments remitted by the Adviser to the Fund or Funds with respect to the previous fiscal year shall equal the Excess Amount.
Salary Adjustment The salary of an employee returning from uncompensated leave shall be adjusted to reflect all non-discretionary increases distributed during the period of leave. While on such leave, an employee shall be eligible to participate in any special salary incentive programs.
Tax Adjustment Tenant shall pay as additional rent for each Calendar Year that amount (the "Tax Adjustment Amount") which is Tenant's Proportionate Share of the amount by which the Taxes incurred with respect to such Calendar Year exceed the Tax Base Amount. The Tax Adjustment Amount with respect to each Calendar Year shall be paid in monthly installments, in an amount estimated from time to time by Landlord and communicated by written notice to Tenant. Following the close of each Calendar Year, Landlord shall cause the amount of the Tax Adjustment Amount for such Calendar Year to be computed based on Taxes for such Calendar Year and Landlord shall deliver to Tenant a statement of such amount and Tenant shall pay any deficiency as shown by such statement to Landlord within 30 days after receipt of such statement. If the total of the estimated monthly installments paid by Tenant during any Calendar Year exceeds the actual Tax Adjustment Amount due from Tenant for such Calendar Year, then, at Landlord's option such excess shall be either credited against payments next due hereunder or refunded by Landlord, provided Tenant is not then in default hereunder. The amount of any refund of Taxes received by Landlord shall be credited against Taxes for the year in which such refund is received. In determining the amount of Taxes for any year, the amount of special assessments to be included shall be limited to the amount of the installment (plus any interest payable thereon) of such special assessment required to be paid during such year as if the Landlord had elected to have such special assessment paid over the maximum period of time permitted by law; if the authority to whom such assessment is to be paid shall not permit such assessment to be paid in installments, the amount of such assessment shall be treated as being amortized over such number of calendar years, beginning with the Calendar Year in which the assessment is payable, as Landlord shall reasonably determine, with interest at the rate of 15% per annum on the unamortized amount, and such amortization and interest for each Calendar Year shall be included in Taxes for that Calendar Year.
True-Up Adjustments From time to time, until the Retirement of the Recovery Bonds, the Servicer shall identify the need for True-Up Adjustments and shall take all reasonable action to obtain and implement such True-Up Adjustments, all in accordance with the following:
Minimum Adjustment The adjustments required by the preceding sections of this Article IV shall be made whenever and as often as any specified event requiring an adjustment shall occur, except that no adjustment of the Exercise Price or the number of shares of Common Stock issuable upon exercise of the Warrants that would otherwise be required shall be made unless and until such adjustment either by itself or with other adjustments not previously made increases or decreases by at least 1% the Exercise Price or the number of shares of Common Stock issuable upon exercise of the Warrants immediately prior to the making of such adjustment. Any adjustment representing a change of less than such minimum amount shall be carried forward and made as soon as such adjustment, together with other adjustments required by this Article IV and not previously made, would result in a minimum adjustment. For the purpose of any adjustment, any specified event shall be deemed to have occurred at the close of business on the date of its occurrence. In computing adjustments under this Article IV, fractional interests in Common Stock shall be taken into account to the nearest one-hundredth of a share.
Section 754 Adjustment To the extent an adjustment to the adjusted tax basis of any Partnership asset pursuant to Code Section 734(b) or Code Section 743(b) is required, pursuant to Regulations Section 1.704-1(b)(2)(iv)(m)(2) or Regulations Section 1.704-1(b)(2)(iv)(m)(4), to be taken into account in determining Capital Accounts as the result of a distribution to a Holder in complete liquidation of his interest in the Partnership, the amount of such adjustment to the Capital Accounts shall be treated as an item of gain (if the adjustment increases the basis of the asset) or loss (if the adjustment decreases such basis) and such gain or loss shall be specially allocated to the Holders in accordance with their interests in the Partnership in the event that Regulations Section 1.704-1(b)(2)(iv)(m)(2) applies, or to the Holders to whom such distribution was made in the event that Regulations Section 1.704-1(b)(2)(iv)(m)(4) applies.
Exercise Price Adjustment Whenever the number of Warrant Shares purchasable upon the exercise of the Warrant is adjusted, as herein provided, the Exercise Price payable upon the exercise of this Warrant shall be adjusted by multiplying such Exercise Price immediately prior to such adjustment by a fraction, of which the numerator shall be the number of Warrant Shares purchasable upon the exercise of the Warrant immediately prior to such adjustment, and of which the denominator shall be the number of Warrant Shares purchasable immediately thereafter.
Royalty Adjustments The following adjustments will be made, on a Product-by-Product and country-by-country basis, to the royalties payable pursuant to Section 3.5.1:
Price Adjustment Civil works contracts of long duration (more than 18 months) shall contain an appropriate price adjustment clause.

Midyear Adjustment Sample Clauses

Filter & Search

Related Clauses

Parent Clauses

Related to Midyear Adjustment