Specified Reductions Sample Clauses

Specified Reductions. Notwithstanding Section 6.3, in the event that the actions of a particular Limited Partner (including financing his or her acquisition of Units with a financing for which recourse is limited or is deemed to be limited under the Tax Act) result in a reduction in the Tax Loss of the Partnership, the amount of such reduction shall be applied firstly to reduce the share of the Tax Loss, that would otherwise be allocated to the particular Limited Partner pursuant to this Agreement. To the extent the amount of such reduction exceeds the Tax Loss that would otherwise be allocated to the particular Limited Partner, the Tax Loss after such reduction will be allocated among the Partners other than the particular Limited Partner in proportion to their respective Sharing Rates. If, in a subsequent Fiscal Year, the particular Limited Partner takes steps which off-set all or part of the reduction in the Tax Loss of the Partnership such amount of the Tax Loss of the Partnership as is restored at such time shall be first allocated pro rata among the other Partners until their share of the Tax Loss is restored to what they would have been but for the actions of the particular Limited Partner and then to such particular Limited Partner.
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Specified Reductions. Notwithstanding Sections 6.3 and 6.4, in the event that the actions of a particular Limited Partner (including financing his or her acquisition of Units with a financing that constitutes a Limited Recourse Amount) result in a reduction in the Taxable Loss of the Partnership, or reduction in the amount of any Eligible Expenditures allocated or that otherwise might be allocated by the Partnership to the Limited Partners, the amount of such reduction shall be applied firstly to reduce the share of the Taxable Loss, or the Eligible Expenditures, as applicable, that would otherwise be allocated to the particular Limited Partner pursuant to this Agreement. To the extent the amount of such reduction exceeds the Taxable Loss, or Eligible Expenditures, that would otherwise be allocated to the particular Limited Partner, the Taxable Loss, or Eligible Expenditures, after such reduction will be allocated among the Partners other than the particular Limited Partner in proportion to their respective Sharing Rates at the end of the relevant Fiscal Year of the Partnership. If, in a subsequent Fiscal Year, the particular Limited Partner takes steps which off-set all or part of the reduction in the Taxable Loss of the Partnership, or the reduction in the amount of such Eligible Expenditures, allocated or that otherwise might be allocated by the Partnership to the Limited Partners, such amount of the Taxable Loss of the Partnership, or Eligible Expenditures, as the case may be, as is restored at such time shall be first allocated pro rata among the other Partners until their share of the Taxable Loss, or Eligible Expenditures, is restored to what they would have been but for the actions of the particular Limited Partner and then to such particular Limited Partner.
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Related to Specified Reductions

  • Step Increases (a) The following is the method used to determine service credit, since the last date of hire, for purposes of positioning on the salary range:

  • Fee Adjustments The fixed fees and other fees expressed as stated dollar amounts in this Schedule C and in this Agreement are subject to annual increases, commencing on the one-year anniversary date of the date of this Agreement, in an amount equal to the percentage increase in consumer prices for services as measured by the United States Consumer Price Index entitled “All Services Less Rent of Shelter,” or a similar index should such index no longer be published, since such one-year anniversary or since the date of the last fee increase, as applicable. SCHEDULE D SPECIAL DISTRIBUTION SERVICES AND FEES Services Fees

  • Voluntary Prepayments (a) The Borrower may, upon notice from the Borrower to the Administrative Agent, at any time or from time to time voluntarily prepay any Term Loan in whole or in part without premium or penalty (other than as set forth in clause (b) below); provided that (A) such notice must be received by the Administrative Agent not later than 11:00 a.m. (1) three Business Days prior to any date of prepayment of Eurodollar Rate Loans and (2) on the date of prepayment of Base Rate Loans and LIBOR Daily Floating Rate Loans; (B) any such prepayment of Eurodollar Rate Loans shall be in a principal amount of $1,000,000 or a whole multiple of $1,000,000 in excess thereof (or, if less, the entire principal amount thereof then outstanding); (C) any such prepayment of LIBOR Daily Floating Rate Loans shall be in a principal amount of $500,000 or a whole multiple of $100,000 in excess thereof (or, if less, the entire principal amount thereof then outstanding); and (D) any prepayment of Base Rate Loans shall be in a principal amount of $500,000 or a whole multiple of $100,000 in excess thereof (or, if less, the entire principal amount thereof then outstanding). Each such notice shall specify the date and amount of such prepayment, the tranche of Terms Loans to be prepaid and the Type(s) of Term Loans to be prepaid. The Administrative Agent will promptly notify each applicable Lender of its receipt of each such notice, and of the amount of such Lender’s Applicable Percentage of such prepayment. If such notice is given by the Borrower, the Borrower shall make such prepayment and the payment amount specified in such notice shall be due and payable on the date specified therein. Any prepayment of a Eurodollar Rate Loan shall be accompanied by all accrued interest on the amount prepaid, together with any additional amounts required pursuant to Section 3.05. Subject to Section 2.15, each such prepayment shall be applied to the applicable Term Loans of the Lenders in accordance with their respective Applicable Percentages.

  • Periodic Increases Periodic increases are provided as follows:

  • Reallocation to a Class with an Equal Salary Range Maximum 1. If the employee meets the skills and abilities requirements of the position, the employee remains in the position and retains existing appointment status.

  • Prepayments (a) Borrower may, upon notice to Administrative Agent, at any time or from time to time voluntarily prepay Committed Loans in whole or in part without premium or penalty; provided that (i) such notice must be received by Administrative Agent not later than 11:00 a.m. (A) three (3) Business Days prior to any date of prepayment of Eurodollar Rate Loans and (B) on the date of prepayment of Base Rate Loans; (ii) any prepayment of Eurodollar Rate Loans shall be in a principal amount of $1,000,000 or a whole multiple of $100,000 in excess thereof; and (iii) any prepayment of Base Rate Loans shall be in a principal amount of $100,000 or a whole multiple of $25,000 in excess thereof or, in each case, if less, the entire principal amount thereof then outstanding. Each such notice shall specify the date and amount of such prepayment and the Type(s) of Committed Loans to be prepaid and, if Eurodollar Rate Loans are to be prepaid, the Interest Period(s) of such Loans. Administrative Agent will promptly notify each Lender of its receipt of each such notice, and of the amount of such Lender’s Applicable Percentage of such prepayment. If such notice is given by Borrower, then Borrower shall make such prepayment and the payment amount specified in such notice shall be due and payable on the date specified therein. Any prepayment of a Eurodollar Rate Loan shall be accompanied by all accrued interest on the amount prepaid, together with any additional amounts required pursuant to Section 3.05. Subject to Section 2.17, each such prepayment shall be applied to the Loans of the Lenders in accordance with their respective Applicable Percentages.

  • Reallocation to a Class with a Lower Salary Range Maximum 1. If the employee meets the skills and abilities requirements of the position and chooses to remain in the reallocated position, the employee retains existing appointment status and has the right to be placed on the Employer’s internal layoff list for the classification occupied prior to the reallocation.

  • Leave on reduced pay An employee shall, during a period on reduced pay, be paid at the same reduced rate for public holidays falling during the period of such leave.

  • How Do I Correct an Excess Contribution? If you make a contribution in excess of your allowable maximum, you may correct the excess contribution and avoid the 6% penalty tax for that year by withdrawing the excess contribution and its earnings on or before the date, including extensions, for filing your tax return for the tax year for which the contribution was made (generally October 15th). Any earnings on the withdrawn excess contribution may also be subject to the 10% early distribution penalty tax if you are under age 59½. In addition, although you will still owe penalty taxes for one or more years, excess contributions may be withdrawn after the time for filing your tax return. Excess contributions for one year may be carried forward and applied against the contribution limitation in succeeding years. An individual who is partially or entirely ineligible to make contributions to a Xxxx XXX may transfer amounts of up to the yearly contribution limits to a non-deductible Traditional IRA (subject to reduction for amounts remaining in the Xxxx XXX plus other Traditional IRA contributions).

  • Date Increment Due Increments shall accrue and become due and payable on the next day following completion of required service as an employee in the class, unless otherwise provided herein.

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