Phasing of City Compensation Amounts Sample Clauses

Phasing of City Compensation Amounts. Developers shall pay compensation to the City according to the building development schedule upon completion of construction of each Phase of the Project, as shown in the example for Phase 1 below. The Project consists of three Phases and each building in each Phase of the Project will be assessed a fixed annual compensation (the “City Compensation”) in the amount of $2.50 per square foot (the “City Compensation Rate”) of Gross Building Area (“GBA”), subject to the adjustment process set forth in this Agreement. Gross Building Area means the total area of all floors, measured in square feet, of a building enclosed by the outside surface of exterior walls thereof. The square footage of the floor area of mezzanines shall be included in Gross Building Area. Payment of the City Compensation for each building will be due upon receipt from the City of a Notice of Completion for each building in each particular Phase, along with the issuance of all regulatory license(s) approval, and annually thereafter for the remaining Term of this Agreement. Note that each payment is in advance of any production at each greenhouse. An example Compensation Rate Schedule for Phase 1 is shown below. Colusa Farms Phase 1 Square Feet City Compensation Rate City Compensation Building 1a 106,395 $2.50/SF $265,987.50 Building 1b 77,426 $2.50/SF $193,565 Building 2 217,344 $2.50/SF $543,360 Total 401,165 $2.50/SF $1,002,912.50
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Phasing of City Compensation Amounts. Developers shall pay compensation to the City upon "completion" of each Phase of the Project and receipt of a Notice of Completion from the City. The Project comprises three Phases, with multiple buildings to be built in each Phase, as further described in Recital E herein above. The City Compensation for each Phase upon completion of all buildings within such Phase will be a fixed amount of ONE MILLION DOLLARS per year, subject to adjustments in accordance with this Agreement. Payment for each Phase will be due and payable on the date which is six (6) months after the City of Colusa issues a Notice of Completion and a certificate of occupancy for the initial building in each Phase, along with all necessary regulatory approvals. The City Compensation will be required annually for the duration of this Agreement. An example of the City Compensation for Phase 1 is shown below. Building 1 184,000 Fixed Fee $500,000 Building 2 217,000 $500,000 401,000 $1,000,000
Sample 1
Phasing of City Compensation Amounts. Owners (or their successor) shall pay compensation to the City according to the building development schedule upon completion of construction of each building in each Phase of the Project, as shown in the example for Phase 1 below. The Project consists of three Phases and each building in each Phase of the Project will be assessed a fixed annual compensation (the “City Compensation”) in the amount of $6.00 per square foot (the “City Compensation Rate”) of Gross Building Area (“GBA”), subject to the adjustment process set forth in this Agreement. Gross Building Area means the total area of all floors, measured in square feet, of a building enclosed by the outside surface of exterior walls thereof. The square footage of the floor area of mezzanines shall be included in Gross Building Area. Payment of the City Compensation for each building will be due upon receipt from the City of a Notice of Completion for each building in each Phase or building, along with the issuance of all regulatory license(s) approval, and annually thereafter for the remaining Term of this Agreement. Note that each payment is in advance of any production at each building. An example Compensation Rate Schedule for Phase 1 is shown below. Building 1 184,000 Fixed fee $500,000 Building 2 217,000 $500,00 $1,000.00 Total 401,165 Building 1 180,000 Fixed $333.333 Building 2 180,000 Fixed $333,333 Building 3 180,000 Fixed $333.334 Total 540,000 $1,000,000 Building 1 110,000 Fixed $237,000 Building 2 172,100 Fixed $371,270 Building 3 182,200 Fixed $391,173 Total 464,300 $1,000,000 City Compensation Rate Adjustment Procedure. During the Term of this Agreement, the City Manager and Developer shall meet and confer, at least three (3) months prior to the date which is every 5th anniversary of the Term (each such date, a “Rate Adjustment Date”), to reconfirm or reestablish the City Compensation. Within six.
Sample 1
Phasing of City Compensation Amounts. Owner shall pay compensation to the City upon "completion" of each Phase of the Project and receipt of a Notice of Completion from the City. The Project comprises three Phases, with multiple buildings to be built in each Phase, as further described in Recital E herein above. The City Compensation for each Phase upon completion of all buildings within such Phase will be a fixed amount of ONE MILLION DOLLARS per year, subject to adjustments in accordance with this Agreement. Payment for each Phase will be due and payable on the date which is six (6) months after the City of Colusa issues a Notice of Completion and a certificate of occupancy for the initial building in each Phase, along with all necessary regulatory approvals. The City Compensation will be required annually for the duration of this Agreement. An example of the City Compensation for Phase 1 is shown below. Building 1 184,000 Fixed fee $500,000 Building 2 217,000 $500,000 $1,000,000 Total 401,165 Building 1 180,000 Fixed $333,333 Building 2 180,000 Fixed $333,333 Building 3 180,000 Fixed $333,333 Total 540,000 $1,000,000 Building 1 110,000 Fixed $237,000 Building 2 172,100 Fixed $371,270 Building 3 182,200 Fixed $391,173 Total 464,300 $1,000,000 City Compensation Rate Adjustment Procedure. During the Term of this Agreement, the City Manager and Development shall meet and confer, at least three (3) Months prior to the date which is every 5th anniversary of the Term ( each such date, a Rate Adjustment Date) to reconfirm or reestablish the City Compensation. The adjustment Rate within the 5th year shall be tied to prior years California weighted state average consumer price indexes. (CCPI). In no event shall said adjustment be lower than 3% nor greater than 6%
Sample 1

Related to Phasing of City Compensation Amounts

  • A-E Compensation and Extra Work 1.5.1. For the PROJECTS/SERVICES authorized under this CONTRACT, A-E shall be compensated in accordance with the following: 1.5.2. For completion and approval of all PROJECTS/SERVICES where “Extra Work” (defined as changes in approved portions of the PROJECT/SERVICES required by and ordered in writing by DIRECTOR which changes constitute a change in or departure from said approved portions of PROJECTS/SERVICES) is not authorized, compensation including reimbursables shall be described and payable as stipulated in Fee Schedule, herein after referred to as “Attachment B”, attached hereto and incorporated herein by reference. 1.5.3. Where extra work is authorized for PROJECTS/SERVICES: a. The amount for Extra Work shall be determined using Attachment B. Extra Work shall be required by and ordered in writing by DIRECTOR. If this CONTRACT is not approved by the Board of Supervisors, any change that increases the cumulative CONTRACT price beyond $100,000 must be approved by the Board. Increases in the CONTRACT amount for services within the existing scope of work may be granted by the DIRECTOR where the amount does not exceed 25 percent of the existing CONTRACT price or $100,000, whichever is less. b. A-E's billing for the Extra Work shall include but not be limited to names of A- E's staff employed in the Extra Work, classification of employees and number of hours worked. 1.5.4. For partial completion of work of PROJECTS/SERVICES followed by default on part of A-E: a. For failure to complete and secure approval of the first required submittal, there shall be no compensation. b. For failure to complete and secure approval of other authorized phases, A-E shall, upon completion of PROJECTS/SERVICES by others, be entitled to receive compensation based on approved work of PROJECTS/SERVICES not to exceed the amounts specified in Attachment A for that particular submittal, plus the reasonable value as determined by COUNTY of the non-approved work; provided, however, that if the cost to COUNTY to complete the contract exceeds the amount specified herein, A-E shall be liable to COUNTY for such excess costs attributable to A-E's breach of the CONTRACT.

  • Equity Compensation All unvested equity awards, including, but not limited to, stock options, stock appreciation rights and restricted stock awards held by Employee on the Date of Termination shall be deemed vested and exercisable on such Date of Termination as if Employee had been employed for an additional six (6) months following the Date of Termination. Notwithstanding the foregoing, if any option, right or award would, as a result of such accelerated vesting and exercisability no longer qualify for exemption under Section 16 of the Exchange Act, then the deemed acceleration of the vesting of such option, right or award shall apply but such option, right or award shall not become exercisable until the earliest date on which it could become exercisable and also qualify for exemption from Section 16 of the Exchange Act, unless Employee instead timely elects to receive a single lump sum cash payment equal to the value of such option, right or award, in lieu of the equity interest that Employee would otherwise receive but for the lack of an exemption under Section 16 of the Exchange Act. Any repurchase rights held by the Company on stock owned or options exercised by Employee shall be canceled on the Date of Termination. To the extent the acceleration of vesting and exercisability described in this Section 4(b)(ii) does not otherwise violate the requirements of Section 409A of the Code, this Agreement shall serve as an amendment to all of Employee’s outstanding stock options, restricted stock awards, repurchase rights, and stock appreciation rights as of the Date of Termination.

  • Underwriting Compensation Determination and Cap The maximum amounts set forth in clauses (a) and (c) above are considered underwriting compensation pursuant to FINRA Rule 5110. A portion of the amounts payable by Masterworks pursuant to clause (b) above along with any amounts paid or payable by Masterworks or Client or any of their respective affiliates to ((or benefits paid in respect of) any related person of the Co-Managers is generally deemed to be underwriting compensation. Any such amounts shall be allocated to the Offering and other related offerings in a manner deemed to be reasonable and appropriate by each of the Co-Managers, consistent with FINRA rules and regulations to determine underwriting compensation relating to the Offering. To the extent such allocation would be determined to result in maximum underwriting compensation being equal to or in excess of 10% of the aggregate gross offering proceeds, the Parties will adjust the provisions of this Agreement or the Client will adjust the terms of employment of persons affiliated with either of the Co-Managers in such manner as is reasonable and necessary to ensure that aggregate underwriting compensation does not equal or exceed 10% of the aggregate gross offering proceeds. The total amount of all items of compensation from any source payable to underwriters, broker-dealers, or affiliates thereof will not exceed ten percent (10%) of the gross proceeds of the offering.

  • Optional Termination and Reduction of Aggregate Credit Amounts (i) The Borrower may at any time terminate, or from time to time reduce, the Aggregate Maximum Credit Amounts; provided that (A) each reduction of the Aggregate Maximum Credit Amounts shall be in an amount that is an integral multiple of $1,000,000 and not less than $5,000,000 and (B) the Borrower shall not terminate or reduce the Aggregate Maximum Credit Amounts if, after giving effect to any concurrent prepayment of the Loans in accordance with Section 3.04(c), the total Revolving Credit Exposures would exceed the total Commitments. (ii) The Borrower shall notify the Administrative Agent of any election to terminate or reduce the Aggregate Maximum Credit Amounts under Section 2.06(b)(i) at least three Business Days prior to the effective date of such termination or reduction, specifying such election and the effective date thereof. Promptly following receipt of any notice, the Administrative Agent shall advise the Lenders of the contents thereof. Each notice delivered by the Borrower pursuant to this Section 2.06(b)(ii) shall be irrevocable. Any termination or reduction of the Aggregate Maximum Credit Amounts shall be permanent and may not be reinstated. Each reduction of the Aggregate Maximum Credit Amounts shall be made ratably among the Lenders in accordance with each Lender’s Applicable Percentage.

  • Compensation; Payment of Fees and Expenses As compensation for the performance of the Administrator’s obligations under this Agreement, the Administrator shall be entitled to receive $2,500 annually, which shall be solely an obligation of the Servicer; provided, however, notwithstanding the foregoing, such compensation shall in no event exceed the Servicing Fee for the related annual period. The Administrator shall pay all expenses incurred by it in connection with its activities hereunder.

  • Compensation & Payment 8.4.1. Should the claim be found proven; settlement is executed only in the form of compensation payment added to the Client trade account. 8.4.2. Compensation shall not compensate the profit not received by the Client in the event that the Client had an intention to perform some action but has not performed it for some reason. 8.4.3. The Company shall not compensate non-pecuniary damage to the Client. 8.4.4. The Company adds a compensation payment to the Client trading account within one working day since the moment of making a positive decision on the dispute situation.

  • Call Back Compensation (a) Call back is an occasion where an employee has been released from duty and is called back to work prior to his/her normal starting time. On such occasions, the employee’s scheduled or recognized shift shall be made available for work, except that the Agency shall not be obligated to work the employee more than twelve (12) consecutive hours and the employee may choose not to work more than twelve (12) consecutive hours, excluding meal periods, of combined call back time and regular shift time. (b) An employee who is called back to work outside his/her scheduled workshift shall be paid a minimum of the equivalent of two (2) hours pay at the overtime rate of pay computed from when the employee actually begins work. After two (2) hours work, in each call back situation, the employee shall be compensated at the appropriate rate of pay for time worked. (c) This provision does not apply to telephone calls at home or overtime work which is essentially a continuation of the scheduled workshift.

  • Compensation Benefits and Expenses During the Term, the Bank shall compensate the Executive for his services as provided in this Section 3. Unless otherwise determined by the Company Board, all payments and benefits provided in this Agreement shall be paid or provided solely by the Bank. Notwithstanding anything in this Agreement to the contrary, no provision of this Agreement shall be construed so as to result in the duplication of any payment or benefit. Unless otherwise determined by the Company Board, the Company’s sole obligation under this Agreement shall be to unconditionally guarantee the payment and provision of all amounts and benefits due hereunder to Executive, and the affirmative obligations of the Company as set forth at Section 3(h), herein, with respect to Indemnification, and, if such amounts and benefits due from the Bank are not timely paid or provided by the Bank, such amounts and benefits shall be paid or provided by the Company.

  • Cash Compensation The Company shall pay to the Executive compensation for his services during the Contract Period as follows:

  • Contract Duration and Annual Salary 1. The College hereby employs the Administrator in the capacity of Director - Marketing Services, Associate Professor for one year, commencing on July 1, 2024 and terminating on June 30, 2025. The Administrator accepts such employment on the conditions hereinafter set forth, and any applicable provisions of the Board of Trustees Policy Manual. In the event of conflict between Board Policy and this Contract, the Contract shall govern. 2. For the 2024-2025 contract year, the Administrator shall receive an annual salary of $178,054.00 subject to applicable deductions, to be paid in bi-weekly installments as full compensation for all rights granted and service performed under this Contract.

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