TERMS AND CONDITIONS OF SETTLEMENT. City of Penticton shall take over the maintenance of the Penticton Trade Centre, the current contractor, at AM, January 1st. City of Penticton shall forward a cheque to Local in the amount of Local shall withdraw, without prejudice, the and the Xxxx, Xxxxxxx and grievance. Upon closing of the tendersfor renewal of the cemetery maintenance contract, the Local shall have the opportunity to provide the City with any suggestions on productivity improvements, cost or saving. City agrees to provide the Local with an estimate of doing the work 'in house' and the total cost of each bid submitted to the City. following terms and conditions of employment shall apply to hired to work in the Peach
TERMS AND CONDITIONS OF SETTLEMENT. 2.1 Outstanding Balance as of November 30, 2001 Both parties to this Agreement confirm that after examination of invoices submitted to TMGUSA by TAC and Trinity Medical Group, Ltd. (TMG), a subsidiary of TAC, and after examination of payments made by TMGUSA to TAC and TMG, the outstanding balance of amounts owed by TMGUSA to TMG and TAC as of November 30, 2001 is US $289,298.83 and US $1,454,550.00, respectively.
2.2 Amount of Shares to be Issued and Restrictions -----------------------------------------------
2.2.1 The parties agree that TMGUSA shall issue 1,000,000 shares of its common stock, par value US $.001, to satisfy all or a portion of the amounts owed and referenced in Article 2.1, and that the Securities issued shall contain a restrictive legend substantially similar to that presented in Exhibit A to this Agreement.
2.2.2 TAC understands that the Securities have not been registered under the Securities and Exchange Act in reliance upon an exemption therefrom for non-public or limited offerings. TAC understands that the Securities must be held indefinitely unless the sale or other transfer thereof is subsequently registered under the Act or an exemption from such registration is available at that time.
TERMS AND CONDITIONS OF SETTLEMENT. 25. Pursuant to the Commission’s policy of encouraging settlements that are reasonable and in the public interest,4 the Joint Petitioners engaged in numerous settlement discussions, as discussed above. These discussions culminated in this Settlement. The terms and conditions ofthe Settlement, for which the Joint Petitioners seek Commission approval, are set forth below.
TERMS AND CONDITIONS OF SETTLEMENT. In accordance with the District Rules, the District alleges that the City owes multiple civil penalties for major violations of the District Rules, including flat-fee civil penalties plus a penalty equal to triple the amount of water use fees that should have been timely paid by the City to the District from late 2011 through January 2021, which penalties would exceed $200,000.00 in addition to the $70,387.68 for water use fees originally owed, plus recovery of any attorneys' and expert fees and costs that may be awarded if litigation is pursued. The City makes no admissions on whether it committed any violations of the District Rules or whether the District could recover any penalties or other legal or equitable relief from the City. However, because the parties desire to seek settlement in lieu of litigation for the alleged violations, and due to the fact that the District alleges that four of the City water xxxxx did not accurately register groundwater production, and because of the resulting difficulty determining the exact past amount of groundwater production from the xxxxx during the period from late 2011 through January 2021, and to avoid the expense of litiga t ion to either party, the District and the City have agreed upon the following settlement conditions for the alleged violations in lieu of litigation:
1. The City shall comply with all applicable rules of the District after the effective date of this Settlement Agreement, including without limitation maintaining a proper meter on each of its water xxxxx, timely reporting to the District of all groundwater production from each of its water xxxxx, and timely payment to the District of the associated water use fees for that groundwater production.
2. In addition to timely payment of applicable water use fees going forward under paragraph 1, the City shall pay the District in the amount of seventy thousand three hundred and eighty-seven dollars and sixty-eight cents ($70,387.68) for past due groundwater production fees, plus a penalty of seven thousand and thirty-eight dollars and seventy- seven cents ($7,038.77), or ten (10) percent of the amount past due for groundwater production fees, for a total amount of seventy-seven thousand four hundred and twenty- six dollars and forty-five cents ($77,426.45) to satisfy any and all penalties and past due water use fees or other violations it is alleged by the District to have committed during the period from late 2011 through January 1, 2021. Such paym...
TERMS AND CONDITIONS OF SETTLEMENT. (a) With respect to Recipients for whom it is not possible to attain age 65 (or age 55 with 15 years of service) during the vesting schedule of this Award, Restricted Stock Units that vest in accordance with the terms hereof will be settled in the form of Common Shares within thirty (30) days of the applicable date of vesting.
(b) Restricted Stock Units that vest in accordance with the terms hereof will be settled in the form of Common Shares within thirty (30) days following the earliest to occur of the following: (i) the normal vesting dates provided for in Section 3(a), (ii) Recipient’s separation from service within the meaning of Section 409A of the Code on account of retirement on or after age 62, (iii) Recipient’s Disability that qualifies as a disability within the meaning of Section 409A of the Code, (iv) Recipient’s death or (v) a Change Performance-Based Annual in Control that qualifies as a change in control event within the meaning of the Treasury Regulations promulgated under Section 409A of the Code; provided, however, that with respect to Section 5(b)(ii), if Recipient is a “specified employee” within the meaning of Section 409A at the time of such separation from service, then settlement of such Recipient’s Restricted Stock Units will instead be made on the date that is six (6) months and one (1) day following the date of Recipient’s separation from service, unless Recipient dies following his or her separation from service prior to such time, in which case, the Restricted Stock Units will be paid in accordance with Section 5(d) hereof. Fractional Shares will not be issued upon the vesting of Restricted Stock Units. Where a fractional Share would be owed to the Employee upon the vesting of Restricted Stock Units, a cash payment equivalent will be paid in place of any such fractional Share using the Fair Market Value on the relevant settlement date.
(c) Subject to Section 409A of the Code, the Company is not required to issue or deliver any Common Share certificates before completing the steps necessary to comply with applicable federal and state securities laws (including any registration requirements and regulations governing short swing trading of securities) and applicable stock exchange rules and practices. The Company will use commercially reasonable efforts to cause compliance with those laws, rules and practices.
(d) If the Recipient dies before the Company has issued any Common Shares, the Company will issue Common Share certificat...
TERMS AND CONDITIONS OF SETTLEMENT. 15. Under this Section the proposed revisions to the Manual and Attachment S are described. The NYISO agrees to promptly perform the following upon approval of this Agreement by the Commission: (1) prepare, submit to its Market Participants in accordance with the Settlement Agreement, its tariffs and agreements, and support proposed revisions to the Transmission Expansion and Interconnection Manual (“Manual”) and (2) make a compliance filing with the Commission to amend Attachment S, as set forth in Sections II.A.2 and II.C.2 of this Settlement Agreement.
TERMS AND CONDITIONS OF SETTLEMENT
