Payment in the Event Losses Fail to Reach Expected Level On the date that is 45 days following the last day (such day, the “True-Up Measurement Date”) of the Final Shared Loss Month, or upon the final disposition of all Shared Loss Assets under this Single Family Shared-Loss Agreement at any time after the termination of the Commercial Shared-Loss Agreement, the Assuming Institution shall pay to the Receiver fifty percent (50%) of the excess, if any, of (i) twenty percent (20%) of the Intrinsic Loss Estimate less (ii) the sum of (A) twenty-five percent (25%) of the asset premium (discount) plus (B) twenty-five percent (25%) of the Cumulative Shared-Loss Payments plus (C) the Cumulative Servicing Amount. The Assuming Institution shall deliver to the Receiver not later than 30 days following the True-Up Measurement Date, a schedule, signed by an officer of the Assuming Institution, setting forth in reasonable detail the calculation of the Cumulative Shared-Loss Payments and the Cumulative Servicing Amount.
Cost of remedying Defects Any repair or rectification undertaken in accordance with the provisions of Clause 17.2, including any additional testing, shall be carried out by the Contractor at its own risk and cost, to the extent that such rectification or repair is attributable to:
Rest Interval After Overtime An employee required to work overtime adjoining his/her regularly scheduled shift shall be entitled to eight (8) clear hours between the end of the overtime work and the start of his/her next regular shift. If eight (8) clear hours are not provided, overtime rates shall apply to hours worked on the next regular shift.
Independent Study Independent study is a program of independent study, research, and/or experience directly related to the duties described in the employee’s job description or related classification as determined by the Retraining and Study Committee, which promises professional values equivalent to that derived from formal study at a recognized educational institution.
INDEPENDENT PRICE DETERMINATION 6.1 By signing and submitting this bid, the Bidder certifies that the prices in this bid have been arrived at independently, without consultation, communication or agreement, for the purpose of restricting competition, as to any matter relating to such prices with any other Bidder or with any competitor; unless otherwise required by law, the prices which have been quoted in this bid have not been knowingly disclosed by the Bidder prior to bid opening directly or indirectly to any other Bidder or to any competitor; no attempt has been made, or will be made, by the Bidder to induce any person or firm to submit, or not to submit, a bid for the purpose of restricting competition.
Penalty Determination H&SC section 39619.7 requires CARB to provide information on the basis for the penalties it seeks. This Agreement includes this information, which is also summarized here. The provision of law the penalty is being assessed under and why that provision is most appropriate for that violation. The penalty provision being applied in this case is H&SC section 42402 et seq. because Real Spirit sold, supplied, offered for sale, or manufactured for sale in California uncertified indoor air cleaning devices in violation of the Regulation for Limiting Ozone Emissions from Indoor Air Cleaning Devices (17 CCR section 94800 et seq.). The penalty provisions of H&SC section 42402 et seq. apply to violations of the Regulation for Limiting Ozone Emissions from Indoor Air Cleaning Devices because the regulation was adopted under authority of H&SC section 41985, which is in Part 4 of Division 26. The manner in which the penalty amount was determined, including aggravating and mitigating factors and per unit or per vehicle basis for the penalty. Penalties must be set at levels sufficient to discourage violations. CARB considered all relevant circumstances in determining penalties, including the eight factors specified in H&SC section 42403. Under H&SC section 42402, et seq. the penalties for strict liability violations of the Regulation for Limiting Ozone Emissions from Indoor Air Cleaning Devices are a maximum of $10,000 per day of violation, with each day being a separate violation. In cases like this involving unintentional first time violations that resulted in unquantifiable excess emissions of ozone, CARB sets penalties based on the retail sales of the non-compliant units. In addition, CARB has sought additional penalties for procedural violations for the failure to display the required consumer notification language via the company’s website and for failure to send copies of the regulation to their retailers and distributors. The penalty obtained in this case was reduced because this was a strict liability first-time violation and Real Spirit made diligent efforts to comply and to cooperate with the investigation. Real Spirit immediately ceased sales of the uncertified devices and began efforts to certify the devices for legal sale in California. Final penalties were determined based on the unique circumstances of this matter, considered together with the need to remove any economic benefit from noncompliance, the goal of deterring future violations and obtaining swift compliance, the consideration of past penalties in similar negotiated cases, and the potential cost and risk associated with litigating these particular violations. Penalties in future cases might be smaller or larger on a per unit basis. The final penalty in this case was based in part on confidential financial information or confidential business information provided by Real Spirit that is not retained by CARB in the ordinary course of business. The penalty in this case was also based on confidential settlement communications between CARB and Real Spirit that CARB does not retain in the ordinary course of business. The penalty reflects CARB’s assessment of the relative strength of its case against Real Spirit, the desire to avoid the uncertainty, burden and expense of litigation, obtain swift compliance with the law and remove any unfair advantage that Real Spirit may have secured from its actions. Is the penalty being assessed under a provision of law that prohibits the emission of pollution at a specified level, and, if so a quantification of excess emissions, if it is practicable to do so. The Indoor Air Cleaner Regulation prohibits emissions of ozone pollution above a specific level. However, it is not practicable to quantify the amount of excess emissions because the number of hours that the uncertified units involved were in use is unknown. However, since the air cleaners were not certified for sale in California, CARB asserts that all emissions from them are excess and illegal.
Independent Investigation Subscriber, in making the decision to purchase the Units, has relied upon an independent investigation of the Company and has not relied upon any information or representations made by any third parties or upon any oral or written representations or assurances from the Company, its officers, directors or employees or any other representatives or agents of the Company, other than as set forth in this Agreement. Subscriber is familiar with the business, operations and financial condition of the Company and has had an opportunity to ask questions of, and receive answers from the Company’s officers and directors concerning the Company and the terms and conditions of the offering of the Units and has had full access to such other information concerning the Company as Subscriber has requested. Subscriber confirms that all documents that it has requested have been made available and that Subscriber has been supplied with all of the additional information concerning this investment which Subscriber has requested.
Expert Determination If the dispute is not resolved under clause 10.3 or clause 10.5, or the parties otherwise agree that the dispute may be resolved by expert determination, the parties may refer the dispute to an expert, in which event:
Independent Audits The Department staff shall review annual independent audits for adherence to generally accepted auditing principles and to the Department’s audit instructions. Incomplete or incorrect audits may be returned to the Grantee for correction.