Share Formula Sample Clauses

Share Formula. For each year of this Agreement, agreed costs shall be shared between the Councils on the following formula applied to the combined Aligned Budgets: Stage 1: Excluded costs Stage 2: Total costs (tc) Stage 4: Relevant share Part (a) i) The cumulative savings of £1.272m are achieved, and ii) The unit cost per activity is aligned between both Councils The above share calculations for year 1 of the agreement shall be adjusted to include costs of staff redundancy and pension strain accounted for by both Councils prior to formal approval of this agreement. Table 3 illustrates how this arrangement will work under part (a) Thereafter, Part (b) shall apply: Part (b) Total annual attributable costs payable by each Council under this Agreement shall be calculated by applying the following annual formula: ( NNDRtc X NNDRsa) + ( CTtc X CTsa) + ( HBtc X HBsa ) Each Council’s share of costs under this agreement shall be compared to the actual total costs paid by each Council under each of the Aligned (shared) budgets and settlements made in the following financial year after the annual audit of accounts. Settlements shall be annual, not carry interest adjustments, and only take place where the cumulative value is in excess of £10,000 (uplifted annually by RPI movements). Except upon termination of this agreement where settlement shall in any event be made within 6 months following termination.
Sample 1Sample 2
AutoNDA by SimpleDocs
Share Formula. For each year of this Agreement, agreed costs shall be shared between the Councils on the following formula applied to the combined Aligned Budgets: Stage 1: Excluded costs The following agreed costs shall firstly be deducted from the costs subject to the sharing arrangements or met through an equivalent budget contribution into Aligned Budgets’. North East Lincolnshire: Recovery of sundry debts – Being the cost of the ‘Sundry Debts Recovery officer’ plus oncosts and other direct employment costs. Administration of free school meals. – Being the agreed schedule of ‘School Meals Recoverable costs’ Stage 2: Total costs (tc) Shall be established by combining the agreed costs incurred by each Council for each of the shared functions of Council Tax, NNDR and Housing Benefits Administration. Support costs shall be apportioned on an agreed and consistent basis across these functions. These shall form the basis of: NNDRtc = Combined total costs of NNDR services CTtc = Combined total costs of Council Tax services HBtc = Combined total costs of Housing Benefits Administration Stage 3: Share apportionments (sa): The formula applied to total costs shall be made up of the following performance measures: NNDRsa = The percentage applicable to total NNDR costs for each Council CTsa = The percentage applicable to total Council Tax costs HBsa = The percentage applicable to total Housing benefit costs. Applicable percentages shall be calculated by reference to the performance data contained in table 1 within this schedule. Share apportionments shall be based on activity levels from the prior financial year ended 31st March to provide both parties a degree of financial certainty but these shall be subject to amendment where one or more of the trigger criteria are breached. Stage 4: Relevant share The Councils shall share agreed costs and savings on a phased basis. Part (a) shall apply until the relevant targets are delivered, thereafter the share arrangements shall revert to Part (b). (a) The Councils shall share the agreed costs so that each Council delivers savings in the proportions contained in the original business case dated 12th October 2011. These saving proportions being: North Lincolnshire 46% North East Lincolnshire 54% And this percentage split shall be applied until the criteria i) and ii) are satisfied. Savings shall be calculated with reference to the starting base budget contributions contained in table 2. Variations to the base shall be by the joint agreement...
Sample 1Sample 2
Share Formula. Unless the Administrator determines that a different formula is merited, the number of shares issuable to employees of the Company accepting salary reductions for at least a three month period will be eligible for an Option to purchase the number of shares of Common Stock as equals twice the total amount of the salary reduction during the measuring period.
Sample 1

Related to Share Formula

  • Certificate of Adjusted Exercise Price or Number of Shares Whenever an adjustment is made as provided in Sections 11 and 13 hereof, the Company shall promptly (a) prepare a certificate setting forth such adjustment and a brief statement of the facts accounting for such adjustment, (b) file with the Rights Agent and with each transfer agent for the Preferred Shares a copy of such certificate and (c) mail a brief summary thereof to each holder of a Rights Certificate in accordance with Section 26 hereof. Notwithstanding the foregoing sentence, the failure of the Company to make such certification or give such notice shall not affect the validity of such adjustment or the force or effect of the requirement for such adjustment. The Rights Agent shall be fully protected in relying on any such certificate and on any adjustment contained therein and shall not be deemed to have knowledge of such adjustment unless and until it shall have received such certificate.

  • Adjustment of Minimum Quarterly Distribution and Target Distribution Levels (a) The Minimum Quarterly Distribution, First Target Distribution, Second Target Distribution, Third Target Distribution, Common Unit Arrearages and Cumulative Common Unit Arrearages shall be proportionately adjusted in the event of any distribution, combination or subdivision (whether effected by a distribution payable in Units or otherwise) of Units or other Partnership Securities in accordance with Section 5.10. In the event of a distribution of Available Cash that is deemed to be from Capital Surplus, the then applicable Minimum Quarterly Distribution, First Target Distribution, Second Target Distribution and Third Target Distribution, shall be adjusted proportionately downward to equal the product obtained by multiplying the otherwise applicable Minimum Quarterly Distribution, First Target Distribution, Second Target Distribution and Third Target Distribution, as the case may be, by a fraction of which the numerator is the Unrecovered Capital of the Common Units immediately after giving effect to such distribution and of which the denominator is the Unrecovered Capital of the Common Units immediately prior to giving effect to such distribution. (b) The Minimum Quarterly Distribution, First Target Distribution, Second Target Distribution and Third Target Distribution, shall also be subject to adjustment pursuant to Section 6.9.

  • Adjustments to Number of Shares The number of shares of Common Stock subject to this Option shall be adjusted to take into account any stock splits, stock dividends, recapitalization of the Common Stock as provided in the Stock Option Plan.

  • Performance Adjustment One-twelfth of the annual Performance Adjustment Rate will be applied to the average of the net assets of the Portfolio (computed in the manner set forth in the Fund's Declaration of Trust or other organizational document) determined as of the close of business on each business day throughout the month and the performance period.

  • Number of Shares; Exercise Price This certifies that, for value received, the United States Department of the Treasury or its permitted assigns (the “Warrantholder”) is entitled, upon the terms and subject to the conditions hereinafter set forth, to acquire from the Company, in whole or in part, after the receipt of all applicable Regulatory Approvals, if any, up to an aggregate of the number of fully paid and nonassessable shares of Preferred Stock set forth in Item 7 of Schedule A hereto (the “Shares”), at a purchase price per share of Preferred Stock equal to the Exercise Price.

  • Certification of Adjusted Exercise Price or Number of Shares of Common Stock Whenever the Exercise Price or the number of shares of Common Stock issuable upon the exercise of each Warrant is adjusted as provided in Section 11 or 13, the Company shall (a) promptly prepare a certificate setting forth the Exercise Price of each Warrant as so adjusted, and a brief statement of the facts accounting for such adjustment, (b) promptly file with the Warrant Agent and with each transfer agent for the Common Stock a copy of such certificate and (c) instruct the Warrant Agent to send a brief summary thereof to each Holder of a Warrant Certificate.

  • Adjustment of Number of Shares Upon each adjustment in the Warrant Price, the number of Shares of Series Preferred purchasable hereunder shall be adjusted, to the nearest whole share, to the product obtained by multiplying the number of Shares purchasable immediately prior to such adjustment in the Warrant Price by a fraction, the numerator of which shall be the Warrant Price immediately prior to such adjustment and the denominator of which shall be the Warrant Price immediately thereafter.

  • Number of Shares This Warrant shall be exercisable for the Initial Shares, plus the Additional Shares, if any (collectively, and as may be adjusted from time to time pursuant to the provisions of this Warrant, the “Shares”).

  • Adjustment of Exercise Price and Number of Shares The number of and kind of securities purchasable upon exercise of this Warrant and the Exercise Price shall be subject to adjustment from time to time as follows:

  • Minimum Adjustment of Exercise Price No adjustment of the Exercise Price shall be made in an amount of less than 1% of the Exercise Price in effect at the time such adjustment is otherwise required to be made, but any such lesser adjustment shall be carried forward and shall be made at the time and together with the next subsequent adjustment which, together with any adjustments so carried forward, shall amount to not less than 1% of such Exercise Price.

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