TERMINATION OF AGREEMENT BY BOARD OF EDUCATION (SUBSTANTIAL REVENUE/EXPENSE CHANGES) Sample Clauses

TERMINATION OF AGREEMENT BY BOARD OF EDUCATION (SUBSTANTIAL REVENUE/EXPENSE CHANGES). The Board of Education may, by written notice to the Association, elect to terminate this Agreement at the end of a contract year, if revenue reductions due to change(s) in the District’s appropriations for evidence-based funding (formerly general state aid), for mandated categorical aid payments or for Federal grants, reduction or elimination (tax freeze) of property tax levy increases currently available to the District under Illinois law, and/or cost increases for the District in contributions to the Teachers' Retirement System (e.g. "cost shift"), will cumulatively exceed $500,000 for the succeeding fiscal year. The parties agree that, if the Board gives such notice, negotiations shall commence as soon as possible towards a successor agreement. The parties further agree that salary and benefits shall be continued as paid and provided in the prior contract year, during any contract "hiatus" between the termination of this Agreement and the ratification of a successor agreement. PROTOCOL FOR MEDICAL INSURANCE PREMIUMS 2017-2022 AGREEMENT Key elements of Agreement: • Payment shares for Board and BEA for the first two years of this Agreement are shown following this Protocol. • Payment shares for years after 2018-19 shall be determined in accordance with Section VII.B. • Payment shares for 2018-19 and later years, as so shown or so determined, shall then be adjusted as necessary under the following rules. • The total insurance cost to the Board and BEA from each year provides a base from which to measure the size of future increases in total cost. For calculating the tentative change from one year to the next, increases or decreases in the number of BEA members eligible for participation (“headcount changes”) are not taken into account. • The tentative annual insurance cost, aggregated for all plan types, and including the effects of migration among plans or enrollment of new hires (other than headcount changes), is to be calculated in dollars, and then divided between Board and BEA based on the premium sharing described in the next section. • If the tentative increase in total insurance cost to the Board and BEA does not exceed 6% of the prior year’s total, then the premium shares remain as so shown or determined. If the tentative increase does exceed 6%, then the percentage shares for each type of coverage shall be redetermined by the Insurance Committee, such that the Board pays 30% and BEA 70% of the portion of the increase exceeding 6%. The timeline s...
Sample 1
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TERMINATION OF AGREEMENT BY BOARD OF EDUCATION (SUBSTANTIAL REVENUE/EXPENSE CHANGES). The Board of Education may, by written notice to the Association, elect to terminate this Agreement at the end of a contract year, if revenue reductions due to change(s) in the District’s appropriations for evidence-based funding (formerly general state aid), for mandated categorical aid payments or for Federal grants, reduction or elimination (tax freeze) of property tax levy increases currently available to the District under Illinois law, and/or cost increases for the District in contributions to the Teachers' Retirement System (e.g. "cost shift"), will cumulatively exceed $500,000 for the succeeding fiscal year. The parties agree that, if the Board gives such notice, negotiations shall commence as soon as possible towards a successor agreement. The parties further agree that salary and benefits shall be continued as paid and provided in the prior contract year, during any contract "hiatus" between the termination of this Agreement and the ratification of a successor agreement.
Sample 1

Related to TERMINATION OF AGREEMENT BY BOARD OF EDUCATION (SUBSTANTIAL REVENUE/EXPENSE CHANGES)

  • Operation of Agreement This Agreement will be effective and binding immediately upon its execution, but, anything in this Agreement to the contrary notwithstanding, this Agreement will not be operative unless and until a Change in Control occurs. Upon the occurrence of a Change in Control at any time during the Term, without further action, this Agreement shall become immediately operative.

  • Complete Disposal Upon Termination of Service Agreement Upon Termination of the Service Agreement Provider shall dispose or delete all Student Data obtained under the Service Agreement. Prior to disposition of the data, Provider shall notify LEA in writing of its option to transfer data to a separate account, pursuant to Article II, section 3, above. In no event shall Provider dispose of data pursuant to this provision unless and until Provider has received affirmative written confirmation from LEA that data will not be transferred to a separate account.

  • COMPLETION OF AGREEMENT This document comprises the entire agreement between the District and the Association in the matters lawfully within the scope of negotiation. Neither party shall have any obligation to meet and negotiate during the term of this agreement.

  • Files Management and Record Retention relating to Grantee and Administration of this Agreement a. The Grantee shall maintain books, records, and documents in accordance with generally accepted accounting procedures and practices which sufficiently and properly reflect all expenditures of funds provided by Florida Housing under this Agreement. b. Contents of the Files: Grantee must maintain files containing documentation to verify all funds awarded to Grantee in connection with this Agreement, as well as reports, records, documents, papers, letters, computer files, or other material received, generated, maintained or filed by Grantee in connection with this Agreement. Grantee must also keep files, records, computer files, and reports that reflect any compensation it receives or will receive in connection with this Agreement.

  • Term; Termination of Agreement This Agreement shall continue in force for a period of one year from the date hereof, subject to an unlimited number of successive one-year renewals upon mutual consent of the parties. It is the duty of the Independent Directors to evaluate the performance of the Advisor annually before renewing the Agreement, and each such renewal shall be for a term of no more than one year.

  • Termination of Agreement If this Agreement is terminated by the Representatives in accordance with the provisions of Section 5 or Section 9(a)(i) hereof, the Company shall reimburse the Underwriters for all of their out-of-pocket expenses, including the reasonable fees and disbursements of counsel for the Underwriters.

  • Promotion of Agreement It is agreed that Vendor will encourage all eligible entities to purchase from the TIPS Program. Encouraging entities to purchase directly from the Vendor and not through TIPS Agreement is a violation of the terms and conditions of this Agreement and will result in removal of the Vendor from the TIPS Program.

  • Performance of Agreement Seller and its Affiliates shall have performed in all material respects all of their covenants, agreements and obligations required by this Agreement to be performed or complied with by them prior to or upon the Closing.

  • Termination of Agreements (a) Except as set forth in Section 2.7(b), in furtherance of the releases and other provisions of Section 4.1, each of UTC, Carrier and Otis and each member of their respective Groups hereby terminate any and all agreements, arrangements, commitments or understandings, whether or not in writing, between or among a Party and/or any member of such Party’s Group, on the one hand, and another Party and/or any member of such other Party’s Group, on the other hand, effective as of the applicable Effective Time. No such terminated agreement, arrangement, commitment or understanding (including any provision thereof that purports to survive termination) shall be of any further force or effect after the Effective Time. Each Party shall, at the reasonable request of the other Party, take, or cause to be taken, such other actions as may be necessary to effect the foregoing. (b) The provisions of Section 2.7(a) shall not apply to any of the following agreements, arrangements, commitments or understandings (or to any of the provisions thereof): (i) this Agreement and the Ancillary Agreements (and each other agreement or instrument expressly contemplated by this Agreement or any Ancillary Agreement to be entered into by any of the Parties or any of the members of their respective Groups or to be continued from and after the Effective Time); (ii) any agreements, arrangements, commitments or understandings listed or described on Schedule 2.7(b)(ii); (iii) any agreements, arrangements, commitments or understandings to which any Third Party is a party thereto (including any Shared Contracts); (iv) any intercompany accounts payable or accounts receivable accrued as of the Effective Time that are reflected in the books and records of the Parties or otherwise documented in writing in accordance with past practices, which shall be settled in the manner contemplated by Section 2.7(c); (v) any agreements, arrangements, commitments or understandings to which any non-wholly owned Subsidiary of UTC, Carrier or Xxxx, as the case may be, is a party (it being understood that directors’ qualifying shares or similar interests will be disregarded for purposes of determining whether a Subsidiary is wholly owned); and (vi) any agreements for the sale, lease, construction or receipt of goods, property or services purchased, obtained or used in the ordinary course of business by a member of any Group from a member of another Group prior to the Effective Time. (c) All of the intercompany accounts receivable and accounts payable between any member of a Party’s Group, on the one hand, and any member of another Party’s Group, on the other hand, outstanding as of the Effective Time shall, as promptly as practicable after the Effective Time, be repaid, settled or otherwise eliminated in a manner as determined by UTC in its sole and absolute discretion (acting in good faith).

  • Confirmation of Agreement Except as amended hereby, the Custody Agreement is in full force and effect and as so amended is hereby ratified, approved and confirmed by the Customer and the Bank in all respects.

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