SERVICE CHARGE CAP Sample Clauses

SERVICE CHARGE CAP. 2.1 For the purposes of this paragraph the following definitions apply: A the last monthly figure shown in the last edition of the Index published before the start of the service charge period (as defined in paragraph 4.5 below) immediately preceding the relevant review date (or in respect of the first review date , the monthly figure shown in the edition of the Index for November 2012); B the last monthly figure shown in the last edition of the Index published by the Office for National Statistics as at the relevant review date; relevant review date means 1 January 2013 and thereafter the day after the date of expiry of each consecutive service charge period; S the Service Charge Cap payable under this Lease immediately preceding the relevant review date; and Service Charge Cap £129,352 (subject to review in accordance with the provisions of paragraph 2.3 (Review of Service Charge Cap) below). 2.2 Notwithstanding the provisions of this Lease (but subject to paragraph 3.3 below), the Tenant’s liability or payments made during that year in respect of the Service Charge payment reserved by Clause 2(b)(i) shall not in any service charge period exceed the Service Charge Cap (or a proportionate part of the Service Charge Cap in respect of any period of less than 12 months).
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SERVICE CHARGE CAP. The Service Charge payable by the Tenant during the first three years of the Term only (but not thereafter) for each square foot of net internal area of the Premises in respect of each Service Charge Period (and in respect to the periods from the Term Commencement Date to 31 December 2008 and from 1 January 2011 to [ ] 2011 the proportion of the figure produced by the calculation below which is the same proportion as the number of days in the relevant period bears to 365) shall not exceed the sum which equals the product to the following formula:- £X x A - B Where:- X = £4.85 per square foot provided that in any period where the Landlord is providing concierge services this figure shall be increased to £6.60 per square foot; A = the amount of the Index for the month immediately preceding the commencement of the relevant Service Charge Period; and B = the amount of the Index last published before the date of this Lease (being [ ]) And the following provisions shall apply: (A) If the reference base used to compile the Index shall change after the date of this Lease the figure taken to be shown in the Index after the change shall be the figure which would have been shown in the Index if the reference base current at such date had been retained; (B) If it becomes impossible by reason of any change after the date of this Lease in the methods used to compile the Index or for any other reason whatever to make the calculations provided for in this paragraph by reference to the Index or if any dispute or question whatever shall arise between the parties with respect of the maximum amount of the Service Charge by virtue of this paragraph or to the construction or effect of this paragraph the same shall be referred to an independent surveyor acting as arbitrator appointed (in the absence of agreement between the parties) on the application of either the Landlord or the Tenant by the President for the time being of the Royal Institution of Chartered Surveyors or his duly appointed deputy (this being deemed to be a submission to arbitration within the meaning of the Arbitration Act 1996) and such surveyor shall have full power to determine what would have been the value of the Index on the relevant dates had it continued on the basis previously applying or (if that determination shall be impossible) shall determine the sum referred to in this paragraph for the relevant Service Charge Period having regard to the purposes and intents of this paragraph; (C) For the avoida...
Sample 1
SERVICE CHARGE CAP. The Service Charge payable by the Tenant during the first three years of the Term only (but not thereafter) for each square foot of net internal area of the Premises in respect of each Service Charge Period (and in respect to the periods from the Term Commencement Date to 31 December 2008 and from 1 January 2011 to [ ] 2011 the proportion of the figure produced by the calculation below which is the same proportion as the number of days in the relevant period bears to 365) shall not exceed the sum which equals the product to the following formula:-
Sample 1
SERVICE CHARGE CAP. 7.1 In the event that the Landlord (here meaning Learning Tree International Limited only) vacates the Building and becomes an absentee landlord, the Service Charge payable by the Tenant during each Service Charge Period shall not exceed £10.50 per square foot (Cap) (plus Value Added Tax) per annum and pro-rata part thereof for the Service Charge Period current as at the date the Landlord (here meaning Learning Tree International Limited only) vacates the Building (but for the avoidance of doubt the Cap shall not apply to the costs of any electricity or gas incurred in relation to the Services) and for each subsequent Service Charge Period or pro-rata part thereof shall not exceed the sum produced by the following formula: x Cap (plus Value Added Tax) Where A is the Retail Price Index published in the month immediately preceding the Landlord vacating and B is the Retail Price Index published in the month in which this Lease was granted provided that the maximum liability of the Tenant for the Service Charge in any Service Charge Period shall never be less than the Cap (plus Value Added Tax) (apportioned pro-rata in respect of the Service Charge Period current at the date of this Lease and for the Service Charge Period in which the Landlord vacates). If the Retail Price Index shall cease to be published or its base shall be changed or for any reason it is impossible or impracticable to implement the provisions of paragraph 7.1 there shall be substituted such other provisions for limiting any increase in the Service Charge for such years (being as equivalent as may be to the provisions of paragraph 7.1) as shall be agreed and in default of agreement shall be determined by an arbitrator to be appointed by the President.
Sample 1
SERVICE CHARGE CAP. 11.1 The Service Charge payable under this Part 2 by the Tenant for each Service Charge Year shall not be in excess of the Service Charge Cap for that Service Charge Year. 11.2 On the first day of each Service Charge Year (the Adjustment Dates and Adjustment Date shall be construed accordingly) the Service Charge Cap shall be adjusted so that the Service Charge Cap for the immediately following Service Charge Year shall be the higher of: 11.2.1 the Service Charge Cap applicable under this Lease immediately before the relevant Adjustment Date (the Current Service Charge Cap); and 11.2.2 the Current Service Charge Cap adjusted by multiplying the Current Service Charge Cap by the RPI (all items) index figure last published prior to the relevant Adjustment Dates and dividing the result by the Base Figure.
Sample 1
SERVICE CHARGE CAP. 2.3.1 The Service Charge Cap for the Affordable Private Rented Units will be subject to indexation based on increases in the Index and calculated using
Sample 1
SERVICE CHARGE CAP. The Tenant’s Proportion of the Service Charge shall not exceed the sum of €44,792.50 (being €9.50 per square foot of the floor area of the Demised Premises) up to 5 December 2015. For the avoidance of doubt, the Tenant’s obligation to discharge the Service Charge shall be in accordance with the Lease as and from the first day of the fourth year of the Term. The terms of this side letter are personal to Hubspot Ireland Limited and may not be assigned, transferred or otherwise disposed of. This side letter is submitted in duplicate. Please countersign the duplicate to signify agreement with its terms. Yours faithfully, for and on behalf of We hereby accept the terms of the foregoing side letter. for and on behalf of THIS RENUNCIATION made the 31st day of January 2014 1. In this Renunciation the following words and expressions have the following meanings:-
Sample 1
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SERVICE CHARGE CAP. The Service Charge and any interim payments payable by the Tenant during the any Service Charge Period shall not exceed the Service Charge Cap as applicable to that Service Charge Period
Sample 1
SERVICE CHARGE CAP. The Tenant’s Proportion of the Service Charge shall not exceed the sum of €65,649.01 (being €9.50 per square foot of the floor area of the Demised Premises) for each of the first three years of the Term only. For the avoidance of doubt, the Tenant’s obligation to discharge the Service Charge shall be in accordance with the Lease as and from the first day of the fourth year of the Term. The terms of this side letter are personal to Hubspot Ireland Limited and may not be assigned, transferred or otherwise disposed of. This side letter is submitted in duplicate. Please countersign the duplicate to signify agreement with its terms. Yours faithfully, /s/ Illegible for and on behalf of AIG PROPERTY COMPANY LIMITED We hereby accept the terms of the foregoing side letter. /s/ Illegible for and on behalf of HUBSPOT IRELAND LIMITED Dated 11th December 2012 (1) AIG PROPERTY COMPANY LIMITED (2) HUBSPOT IRELAND LIMITED BETWEEN: (1) AIG PROPERTY COMPANY LIMITED a company incorporated under the laws of Ireland (registration number 127010) having its registered office at 00 Xxxxx Xxxx Xxxx, XXXX, Xxxxxx 0 (the “Landlord”); and
Sample 1

Related to SERVICE CHARGE CAP

  • Excess Finance Charge Collections Series 2017-6 shall be an Excess Allocation Series. Subject to Section 4.05 of the Agreement, Excess Finance Charge Collections with respect to the Excess Allocation Series for any Distribution Date will be allocated to Series 2017-6 in an amount equal to the product of (x) the aggregate amount of Excess Finance Charge Collections with respect to all the Excess Allocation Series for such Distribution Date and (y) a fraction, the numerator of which is the Finance Charge Shortfall for Series 2017-6 for such Distribution Date and the denominator of which is the aggregate amount of Finance Charge Shortfalls for all the Excess Allocation Series for such Distribution Date. The “Finance Charge Shortfall” for Series 2017-6 for any Distribution Date will be equal to the excess, if any, of (a) the full amount required to be paid, without duplication, pursuant to subsections 4.05(a), 4.05(b) and 4.05(c) and subsections 4.07(a) through (j) on such Distribution Date and the full amount required to be paid, without duplication, pursuant to subsections 3.02(a)(iii) and 3.02(a)(iv) of the Transfer Agreement on the related Payment Date (as such term is defined in the Transfer Agreement) over (b) the sum of (i) the Reallocated Investor Finance Charge Collections, (ii) if such Monthly Period relates to a Distribution Date with respect to the Controlled Accumulation Period or Early Amortization Period, the amount of Principal Funding Account Investment Proceeds, if any, with respect to such Distribution Date and (iii) the amount of funds, if any, to be withdrawn from the Reserve Account which, pursuant to subsection 4.12(d), are required to be included in Class A Available Funds with respect to such Distribution Date. The amount of Excess Finance Charge Collections for Series 2017-6 for any Distribution Date shall be specified in subsection 3.02(a)(v) of the Transfer Agreement. On each Distribution Date, the Trustee shall deposit into the Collection Account for application in accordance with Section 4.05 of the Agreement the aggregate amount of Excess Finance Charge Collections received by the Trustee pursuant to the Transfer Agreement on such date.

  • Service Charge The Tenant must pay the Service Charge in accordance with Part 1 of Schedule 3. The Tenant must pay: VAT on any consideration in respect of a VAT Supply to the Tenant by the Landlord at the same time as the consideration is paid; and on demand VAT (and interest, penalties and costs where these are incurred because of anything the Tenant does or fails to do) charged in respect of any VAT Supply to the Landlord in respect of the Premises where that VAT is not recoverable by the Landlord from HM Revenue & Customs. The Tenant must not do anything that would result in the disapplication of the option to tax in respect of the Landlord’s interest in the Building. The Tenant must pay interest on the Rents and on all other sums not paid on or by the due date (or, if no date is specified, not paid within 10 Business Days after the date of demand). Interest will be payable at the Interest Rate for the period starting on the due date (or date of demand) and ending on the date of payment. The Tenant must pay on demand the Landlord’s costs (including legal and surveyor’s charges and bailiff’s and enforcement agent’s fees) and disbursements in connection with: any breach of the Tenant’s obligations in this Lease, including the preparation and service of a notice under section 146 of the 1925 Act; any application by the Tenant for consent under this Lease, whether that application is withdrawn or consent is granted or lawfully refused, except in cases where the Landlord is required to act reasonably and the Landlord unreasonably refuses to give consent; [and] [carrying out works to the Premises to improve their Environmental Performance where the Tenant, in its absolute discretion, has consented to the Landlord doing so; and]31 the preparation and service of a schedule of dilapidations served no later than six months after the End Date. Third party indemnity32 The Tenant must indemnify the Landlord against all actions, claims, demands made by a third party, all costs, damages, expenses, charges and taxes payable to a third party and the Landlord’s own liabilities, costs and expenses incurred in defending or settling any action, claim or demand in respect of any personal injury or death, damage to any property and any infringement of any right, in each case arising from: the state and condition of the Premises or the Tenant’s use of them; the exercise of the Tenant’s rights; or the carrying out of any Permitted Works. In respect of any claim covered by the indemnity in clause 4.7.1, the Landlord must: give formal notice to the Tenant of the claim as soon as reasonably practicable after receiving notice of it; provide the Tenant with any information and assistance in relation to the claim that the Tenant may reasonably require and the Landlord is lawfully able to provide, subject to the Tenant paying to the Landlord all costs incurred by the Landlord in providing that information and assistance; and mitigate its loss (at the Tenant’s cost) where it is reasonable for the Landlord to do so.

  • Allocations of Finance Charge Collections The Servicer shall allocate to the Series 1997-1 Certificateholders and retain in the Collection Account for application as provided herein an amount equal to the product of (A) the Floating Allocation Percentage and (B) the Series 1997-1 Allocation Percentage and (C) the aggregate amount of Collections of Finance Charge Receivables deposited in the Collection Account on such Deposit Date.

  • Minimum Fixed Charge Coverage Ratio As of the end of each Fiscal Quarter, commencing with the Fiscal Quarter ending on March 31, 2015, Borrowers will maintain a Fixed Charge Coverage Ratio of not less than 1.20 to 1.00.

  • Finance Charge Each Receivable provides for the payment of a finance charge or shall yield interest calculated on the basis of an APR ranging from 0.50% to 22.24%.

  • Minimum Fixed Charge Coverage The ratio of (a) Adjusted EBIT for any Rolling Four Quarter Period to (b) Fixed Charges for the same Rolling Four Quarter Period, to be less than 1.50 to 1.00.

  • Charge Nurse A charge nurse is an experienced nurse who is assigned the responsibility for the nursing activity and patient care on a single nursing unit for one (1) or more shifts. Nurses assigned charge responsibilities will have these additional responsibilities considered in their direct patient care assignments.

  • Defaulted Amounts; Investor Charge-Offs (a) On each Determination Date, the Servicer shall calculate the Class A Investor Default Amount, if any, for the related Distribution Date. If, on any Distribution Date, the Class A Required Amount for the related Monthly Period exceeds the sum of (x) the amount of Reallocated Principal Collections allocated to Series 2000-3 with respect to such Monthly Period and (y) the amount of Excess Spread and the Excess Finance Charge Collections allocable to Series 2000-3 with respect to such Monthly Period, the Collateral Invested Amount, if any, will be reduced by the amount of such excess, but not by more than the Class A Investor Default Amount for such Distribution Date. In the event that such reduction would cause the Collateral Invested Amount to be a negative number, the Collateral Invested Amount will be reduced to zero and the Class B Invested Amount shall be reduced by the amount by which the Collateral Invested Amount would have been reduced below zero, but not by more than the excess, if any, of the Class A Investor Default Amount for such Distribution Date over the amount of such reduction, if any, of the Collateral Invested Amount with respect to such Distribution Date. In the event that such reduction would cause the Class B Invested Amount to be a negative number, the Class B Invested Amount shall be reduced to zero, and the Class A Invested Amount shall be reduced by the amount by which the Class B Invested Amount would have been reduced below zero, but not by more than the excess, if any, of the Class A Investor Default Amount for such Distribution Date over the aggregate amount of the reductions, if any, of the Collateral Invested Amount and the Class B Invested Amount for such Distribution Date (a "Class A Investor Charge-Off"). Class A Investor Charge-Offs shall thereafter be reimbursed and the Class A Invested Amount increased (but not by an amount in excess of the aggregate unreimbursed Class A Investor Charge-Offs) on any Distribution Date by the amount of Excess Spread and Excess Finance Charge Collections allocated and available for that purpose pursuant to subsection 4.07(b). References to "negative numbers" above shall be determined without regard to the requirement that the Invested Amount of a Class not be reduced below zero.

  • Investor Charge-Offs (a) On or before each Transfer Date, the Servicer shall calculate the Class A Investor Default Amount. If on any Transfer Date, the Class A Investor Default Amount for the prior Monthly Period exceeds the sum of the amount allocated with respect thereto pursuant to subsection 4.09(a)(iii), subsection 4.11(a) and Section 4.12 with respect to such Monthly Period, the Collateral Interest Amount (after giving effect to reductions for any Collateral Charge-Offs and any Reallocated Principal Collections on such Transfer Date) will be reduced by the amount of such excess, but not by more than the lesser of the Class A Investor Default Amount and the Collateral Interest Amount (after giving effect to reductions for any Collateral Charge- Offs and any Reallocated Principal Collections on such Transfer Date) for such Transfer Date. In the event that such reduction would cause the Collateral Interest Amount to be a negative number, the Collateral Interest Amount will be reduced to zero, and the Class B Investor Interest (after giving effect to reductions for any Class B Investor Charge-Offs and any Reallocated Class B Principal Collections on such Transfer Date) will be reduced by the amount by which the Collateral Interest Amount would have been reduced below zero. In the event that such reduction would cause the Class B Investor Interest to be a negative number, the Class B Investor Interest will be reduced to zero, and the Class A Investor Interest will be reduced by the amount by which the Class B Investor Interest would have been reduced below zero, but not by more than the Class A Investor Default Amount for such Transfer Date (a "Class A Investor Charge-Off"). If the Class A Investor Interest has been reduced by the amount of any Class A Investor Charge-Offs, it will be reimbursed on any Transfer Date (but not by an amount in excess of the aggregate Class A Investor Charge- Offs) by the amount of Excess Spread allocated and available for such purpose pursuant to subsection 4.11(b). (b) On or before each Transfer Date, the Servicer shall calculate the Class B Investor Default Amount. If on any Transfer Date, the Class B Investor Default Amount for the prior Monthly Period exceeds the amount of Excess Spread and Reallocated Collateral Principal Collections which are allocated and available to fund such amount pursuant to subsection 4.11(c) and Section 4.12, the Collateral Interest Amount (after giving effect to reductions for any Collateral Charge-Offs and any Reallocated Principal Collections on such Transfer Date and any adjustments with respect thereto as described in subsection 4.10(a) above) will be reduced by the amount of such excess but not by more than the lesser of the Class B Investor Default Amount and the Collateral Interest Amount (after giving effect to reductions for any Collateral Charge-Offs and any Reallocated Principal Collections on such Transfer Date and any adjustments with respect thereto as described in subsection 4.10(a) above) for such Transfer Date. In the event that such reduction would cause the Collateral Interest Amount to be a negative number, the Collateral Interest Amount will be reduced to zero and the Class B Investor Interest will be reduced by the amount by which the Collateral Interest Amount would have been reduced below zero, but not by more than the Class B Investor Default Amount for such Transfer Date (a "Class B Investor Charge- Off"). The Class B Investor Interest will also be reduced by the amount of Reallocated Class B Principal Collections in excess of the Collateral Interest Amount pursuant to Section 4.12 and the amount of any portion of the Class B Investor Interest allocated to the Class A Certificates to avoid a reduction in the Class A Investor Interest pursuant to subsection 4.10(a) above. The Class B Investor Interest will thereafter be reimbursed (but not to an amount in excess of the unpaid principal balance of the Class B Certificates) on any Transfer Date by the amount of Excess Spread allocated and available for that purpose as described under subsection 4.11(d). (c) On or before each Transfer Date, the Servicer shall calculate the Collateral Default Amount. If on any Transfer Date, the Collateral Default Amount for the prior Monthly Period exceeds the amount of Excess Spread which is allocated and available to fund such amount pursuant to subsection 4.11(g), the Collateral Interest Amount will be reduced by the amount of such excess but not by more than the lesser of the Collateral Default Amount and the Collateral Interest Amount for such Transfer Date (a "Collateral Charge-Off"). The Collateral Interest Amount will also be reduced by the amount of Reallocated Principal Collections pursuant to Section 4.12 and the amount of any portion of the Collateral Interest Amount allocated to the Class A Certificates or the Class B Certificates to avoid a reduction in the Class A Investor Interest, pursuant to subsection 4.10(a), or the Class B Investor Interest, pursuant to subsection 4.10(b), respectively. The Collateral Interest Amount will thereafter be reimbursed on any Transfer Date by the amount of the Excess Spread allocated and available for that purpose as described under subsection 4.11(h).

  • Fixed Charge Coverage Ratio The Borrower will not permit the Fixed Charge Coverage Ratio, as of the last day of any fiscal quarter for the four fiscal quarters ending on that date, to be less than 1.25 to 1.0.

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