Partial Year; Proration Sample Clauses

Partial Year; Proration. Any payments or benefits payable to the Executive hereunder in respect of any fiscal year of the Company during which the Executive is employed for less than the entire fiscal year shall, unless otherwise provided in the applicable benefit plan, be prorated in accordance with the number of days in such fiscal year during which the Executive is so employed.
Sample 1Sample 2Sample 3See All (5)
AutoNDA by SimpleDocs
Partial Year; Proration. During the first and last years of the Term, Tenants responsibility for Operating Costs shall be adjusted in the proportion that the number of days of that calendar year during which the Lease is in effect bears to 365. Tenant's obligations under this Article 6 for the payment of Operating Costs during the Lease Term, including the payment of any deficiency following receipt of the annual statement under Section 6.3, shall survive the expiration or termination of this Lease.
Sample 1
Partial Year; Proration. During the last year of the Term, Tenant’s responsibility for Tenant’s Share of Operating Costs shall be adjusted in the proportion that the number of days of that calendar year during which the Lease is in effect bears to 365. Tenant’s obligations under this Article 4 for the payment of Tenant’s Share of Operating Costs during the Term, including the payment of any deficiency following receipt of the annual statement under Section 4.6, shall survive the expiration or termination of this Lease.
Sample 1
Partial Year; Proration. Any compensation amounts to which Executive may become entitled, pursuant to Subsections 3.1, 3.2, and 3.3 (b) above, for any fiscal year that does not occur entirely within the Term (including any renewals, extensions or substitutions thereof), shall be equitably prorated or otherwise equitably adjusted to reflect the compensation amounts that are reasonably attributable to the Executive’s actual period of employment under this Agreement during such fiscal year.
Sample 1
Partial Year; Proration. During the first and last years of the Term, Tenant’s responsibility for Common Area Charges, Utility Costs, Taxes and Insurance Premiums shall be adjusted in the proportion that the number of days of that calendar year during which this Lease is in effect bears to three hundred sixty (360). Tenant’s obligations under this Article 28 for the payment of Common Area Charges, Utility Costs, Taxes and Insurance Premiums during the Lease Term, including the payment of any deficiency following receipt of the annual statement under Section 28.2, shall survive the expiration or termination of this Lease.
Sample 1

Related to Partial Year; Proration

  • Tax Year The Partnership’s tax year will end on , 20 .

  • Straddle Period Allocation For purposes of this Agreement, in the case of any Tax imposed with respect to a Straddle Period, the portion of such Tax that is allocable to the portion of such Straddle Period ending on the Closing Date shall be (i) in the case of any Taxes other than Income Taxes, Taxes based on receipts, sales or payments and other Taxes that are transaction based, be deemed to be the amount of such Tax for the entire Straddle Period multiplied by a fraction, the numerator of which is the number of days in the Straddle Period prior to and ending on the Closing Date and the denominator of which is the number of days in the entire Straddle Period and (ii) in the case of any Income Taxes and Taxes based on receipts, sales or payments and other Taxes that are transaction based, be deemed equal to the amount which would be payable if the relevant Straddle Period ended on the Closing Date, provided that all permitted allowances, credits, exemptions and deductions that are normally computed on the basis of an entire year period (such as depreciation and amortization deductions) shall accrue on a daily basis and shall be allocated between the pre-Closing portion of the Straddle Period and the post-Closing portion of the Straddle Period in proportion to the number of days in each such period.

  • Calendar Year Calendar Year" for the purposes of this Agreement shall mean the twelve (12) month period from January 1st to December 31st, inclusive.

  • Lease Year Lease Year" means each consecutive twelve-month period beginning with the Commencement Date, except that if the Commencement Date is not the first day of a calendar month, then the first Lease Year shall be the period from the Commencement Date through the final day of the twelve months after the first day of the following month, and each subsequent Lease Year shall be the twelve months following the prior Lease Year.

  • Base Year The period beginning on 1 April of one year and ending on 31 March of the following year.

  • Straddle Period Tax Allocation The Company will, unless prohibited by applicable law, close the taxable period of the Company as of the close of business on the Closing Date. If applicable law does not permit the Company to close its taxable year on the Closing Date or in any case in which a Tax is assessed with respect to a taxable period which includes the Closing Date (but does not begin or end on that day) (a “Straddle Period”), the Taxes, if any, attributable to a Straddle Period shall be allocated (i) to the Selling Members for the period up to and including the close of business on the Closing Date (except that the Members shall not be responsible for Taxes to the extent of any reserve or accrual for Taxes on the Closing Balance Sheet that are included in the Closing Working Capital described in Section 2.4(b)(i)), and (ii) to Purchaser for the period subsequent to the Closing Date. Any allocation of income or deductions required to determine any Taxes attributable to a Straddle Period shall be made by means of a closing of the books and records of the Company as of the close of the Closing Date, provided that exemptions, allowances or deductions that are calculated on an annual basis (including, but not limited to, depreciation and amortization deductions) shall be allocated between the period ending on the Closing Date and the period after the Closing Date in proportion to the number of days in each such period. Property or ad valorem Taxes however shall be apportioned by assuming that an equal portion of such Tax for the entire Straddle Period is allocable to each day in such Straddle Period.

  • Annual Base Rent Beginning on the Commencement Date, Tenant agrees to pay Landlord, without prior demand therefor, and without set-off or deduction, a yearly base minimum rent in the amount of Twenty-six Thousand Four Hundred Eighteen and No/100 Dollars ($26,418.00), payable in monthly installments, each in the amount of Two Thousand Two Hundred One and 50/100 Dollars ($2,201.50) plus an annual parking charge in an amount pursuant to the paragraph below (collectively, the base minimum rent and parking charge shall be defined herein as the “Base Rent”). In the event the Commencement Date falls on a day other than the first day of a calendar month, then the monthly installment of Base Rent shall be prorated for such month. In the event this Lease expires or is terminated on a day that is other than the last day of a calendar month, then the Base Rent for the month in which the Term expires or is terminated shall be prorated. Tenant shall pay the Base Rent to Landlord at Landlord’s address set forth in Section 17.5 of this Lease, or at such other place as Landlord may from time to time designate to Tenant in writing (in accordance with Section 17.5 of this Lease), in funds which at the time of such payment shall be legal tender for the payment of public or private debts in the United States of America. Beginning on the Commencement Date, Tenant shall also pay to Landlord an annual parking charge that shall be part of the Base Rent and initially shall be equal to the product of One Hundred and No/100 Dollars ($100.00) multiplied by the number of parking spaces which are allocated for Tenant’s use under Section 2.2 of the REA (initially, 120 spaces), being initially Twelve Thousand and No/100 Dollars ($12,000.00) per year. In the event Tenant should demand the LTACH Exclusive Parking Rights, as provided for in the REA, then from and after the date that Tenant begins to have such exclusive parking, the amount of the parking charge that shall be part of the Base Rent shall be increased to One Hundred Twenty-Five Percent (125%) of the parking charge then in effect at the time that Tenant begins to have such exclusive parking, with the amount prorated for any partial calendar year. Both the minimum rent and the parking charge that comprise the Base Rent shall be subject to adjustment pursuant to Section 3.5 below.

  • Proration For the month and year in which this Agreement becomes effective or terminates, there shall be an appropriate proration of the Adviser's fee on the basis of the number of days that the Agreement is in effect during such month and year, respectively.

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!