Withdrawal Penalty Sample Clauses

Withdrawal Penalty. An Interconnection Customer shall be subject to a Withdrawal Penalty if it withdraws its request from the Queue or the Generating Facility does not otherwise reach Commercial Operation, unless (1) the Utility determines that, consistent with Good Utility Practice, the withdrawal does not negatively affect the timing or cost to interconnect of equal or lower queued projects; or (2) the cost responsibility for the Interconnection Facilities and Upgrades identified for that Interconnection Customer in the current DISIS Phase 2, Phase 3, or Facilities Study report increased by more than twenty-five percent (25%) compared to the costs identified in the previous DISIS report. 6.3.5.1 Calculation of the Withdrawal Penalty for Ready Projects If the Interconnection Customer satisfied the Readiness Milestone requirements for the most recent phase of the Definitive Interconnection Study Process prior to withdrawal, that Interconnection Customer’s Withdrawal Penalty shall be calculated as follows: 1. If the Interconnection Customer withdraws after M1, but before M2, the Withdrawal Penalty shall be equal to the Interconnection Customer’s actual allocated cost of the Definitive Interconnection Study Process. 2. If the Interconnection Customer withdraws after M2, but before M4, the Withdrawal Penalty shall be the higher of the study deposit or one (1) times the Interconnection Customer’s actual allocated cost of the Definitive Interconnection Study Process. 3. If the Interconnection Customer withdraws after proceeding to Section 5 and providing M4, the Withdrawal Penalty shall be the higher of the non-refundable pre-payment for the estimated System Upgrades allocated to the Interconnection Customer in the Facilities Study Report, or five (5) times the Interconnection Customer’s actual allocated cost of the Definitive Interconnection Study Process. This amount shall be capped at two (2) million dollars. If the M4 prepayment amount provided by the Interconnection Customer exceeded the cap, the Utility shall not be obligated to proceed with constructing the Upgrades assigned to the withdrawing Interconnection Customer and shall refund the prepayment amounts exceeding the capped Withdrawal Penalty to the withdrawing Interconnection Customer and shall allocate the Withdrawal Penalty in accordance with Section 6.3.6 in lieu of constructing the System Upgrade(s) assigned to the withdrawing Interconnection Customer. 6.3.5.2 Calculation of the Withdrawal Penalty for Non-Ready Pro...
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Withdrawal Penalty. Except as provided in Appendix 8 of Transmission Provider’s QF-LGIP, an Interconnection Customer shall be subject to a penalty (“Withdrawal Penalty”) if it withdraws its Interconnection Request or the Generating Facility does not otherwise reach Commercial Operation unless (1) the withdrawal does not negatively affect the timing or cost of other projects within the same Cluster as determined by Transmission Provider; (2) the Interconnection Customer withdraws after receiving the most recent Cluster Study Report and the costs assigned to the Interconnection Request identified in that report have increased by more than twenty-five percent (25%) compared to costs identified in the previous Cluster Study Report; (3) the Interconnection Customer withdraws after receiving the individual Facilities Study report and the costs assigned to the Interconnection Request identified in that report have increased by more than 100 percent compared to costs identified in the most recent Cluster Study Report. For the avoidance of doubt, Small Generating Facilities participating in the Cluster Study process pursuant to Article 7 shall not be subject to Withdrawal Penalties.
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Withdrawal Penalty. If any party withdraws from the negotiations relating to the Project or from the Amended Project Agreements at any time prior to the Phase I Project Acceptance Date, the remaining parties will receive the withdrawing party's equity interest on a pro-rata basis and will assume all responsibilities and benefits flowing from such equity interest. The withdrawing party shall pay all direct out-of-pocket costs, up to an aggregate of $50,000 to all other parties together, incurred by the remaining parties and the Project as a result of such withdrawal. For purposes of this Paragraph 10, PTEC shall be deemed not to be a party.
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Withdrawal Penalty. A shareholder may withdraw from being a shareholder. The shareholder withdrawing shall give a 30 days’ notice of such an intention in writing to the Public Officer. In making a payment, the value of the shareholder shall be the shareholding as calculated at the end of the month preceding the month where the notice to withdraw was received, less all debt and penalties. There shall be a withdrawal penalty; this penalty is split into two: ● A 3% penalty on the accumulated shareholding for all the years before the withdrawal financial year ● A 20% penalty on the accumulated shareholding for the withdrawal financial year Xxxxx has an accumulated shareholding balance in his account of R10 000 since joining Itenity. Xxxxx’s accumulated shareholding is R3 000 for the withdrawal financial year. All payments to shareholders will be a transfer to the shareholder’s preferred bank account and no other forms of payment shall be used.
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Related to Withdrawal Penalty

  • Early Withdrawal Penalty Unless provided otherwise in the Disclosures, we will assess an early withdrawal penalty on any withdrawal, either partial or in whole, that we allow you to make from your account prior to the account's maturity date. The method for determining that penalty is described in the Disclosures.

  • Withdrawal Events In the event of the death, retirement, withdrawal, expulsion, or dissolution of a Member, or an event of bankruptcy or insolvency, as hereinafter defined, with respect to a Member, or the occurrence of any other event which terminates the continued membership of a Member in the Company pursuant to the Statutes (each of the foregoing being hereinafter referred to as a “Withdrawal Event”), the Company shall terminate sixty days after notice to the Members of such withdrawal Event unless the business of the Company is continued as hereinafter provided. Notwithstanding a Withdrawal Event with respect to a Member, the Company shall not terminate, irrespective of applicable law, if within aforesaid sixty day period the remaining Members, by the unanimous vote or consent of the Members (other than the Member who caused the Withdrawal Event), shall elect to continue the business of the Company. In the event of a Withdrawal Event with respect to an Member, any successor in interest to such Member (including without limitation any executor, administrator, heir, committee, guardian, or other representative or successor) shall not become entitled to any rights or interests of such Member in the Company, other than the allocations and distributions to which such Member is entitled, unless such successor in interest is admitted as a Member in accordance with this Agreement. An “event of bankruptcy or insolvency” with respect to a Member shall occur if such Member:

  • Administrative Penalty That Respondent shall pay an Administrative Penalty of $1,000.00 to the Participating States to be distributed equally amongst the Participating States (the “per-state payment”).

  • Withdrawal Right Notwithstanding anything to the contrary contained in (and without limiting any similar provisions of) the Transaction Documents, whenever any Buyer exercises a right, election, demand or option under a Transaction Document and the Company or any Subsidiary does not timely perform its related obligations within the periods therein provided, then such Buyer may rescind or withdraw, in its sole discretion from time to time upon written notice to the Company or such Subsidiary (as the case may be), any relevant notice, demand or election in whole or in part without prejudice to its future actions and rights.

  • Withdrawal Before Bidding 7.1. Registered E-Bidders, who have completed the 10% deposit payment, are entitled to withdraw from the auction at least one (1) working day before the auction date by 5.00 pm. 7.2. The 10% deposit will be refunded back to the E-Bidders within three (3) working days via online banking.

  • Early Distribution Penalty Tax If you receive a Traditional IRA distribution or a nonqualified Xxxx XXX distribution before you attain age 59½, an additional early distribution penalty tax of 10 percent generally will apply to the taxable amount of the distribution unless one of the following exceptions apply.

  • Withdrawal Rights Except as otherwise provided in this Section 4, tenders of Shares made pursuant to the Offer are irrevocable. Shares tendered pursuant to the Offer may be withdrawn pursuant to the procedures set forth below at any time prior to the Expiration Date and, unless theretofore accepted for payment by Purchaser pursuant to the Offer, may also be withdrawn at any time after July 11, 1999. If Purchaser extends the Offer, is delayed in its acceptance for payment of Shares or is unable to accept Shares for payment pursuant to the Offer for any reason, then, without prejudice to Purchaser's rights under the Offer, the Depositary may, nevertheless, on behalf of Purchaser, retain tendered Shares, and such Shares may not be withdrawn except to the extent that tendering stockholders are entitled to withdrawal rights as described in this Section 4. For a withdrawal to be effective, a written, telegraphic or facsimile transmission notice of withdrawal must be timely received by the Depositary at one of its addresses set forth on the back cover of this Offer to Purchase. Any such notice of withdrawal must specify the name of the person who tendered the Shares to be withdrawn, the number of Shares to be withdrawn and the name of the registered holder, if different from that of the person who tendered such Shares. If Share Certificates evidencing Shares to be withdrawn have been delivered or otherwise identified to the Depositary, then, prior to the physical release of such Share Certificates, the serial numbers shown on such Share Certificates must be submitted to the Depositary and the signature(s) on the notice of withdrawal must be guaranteed by an Eligible Institution, unless such Shares have been tendered for the account of an Eligible Institution. If Shares have been tendered pursuant to the procedure for book-entry transfer as set forth in Section 3, any notice of withdrawal must also specify the number of the account at the Book-Entry Transfer Facility to be credited with the withdrawn Shares and otherwise comply with the Book-Entry Transfer Facility's procedures. All questions as to the form and validity (including time of receipt) of notices of withdrawal will be determined by Purchaser, in its sole discretion, whose determination will be final and binding on all parties. None of Parent, Purchaser, the Dealer Manager, the Depositary, the Information Agent or any other person 8

  • Withdrawal Conditions; Withdrawal Period 1. Notwithstanding the provisions of Part A of this Section, no withdrawal shall be made for payments made prior to the date of this Agreement. 2. The Closing Date is June 30, 2013.

  • Withdrawal from Agreement A. Any Fund may elect to withdraw from this Agreement effective at the end of any monthly period by giving at least 90 days’ prior written notice to each of the parties to this Agreement. Upon the written demand of all other Funds which are parties to this Agreement a Fund shall withdraw, and in the event of its failure to do so shall be deemed to have withdrawn, from this Agreement; such demand shall specify the date of withdrawal which shall be at the end of any monthly period at least 90 days from the time of service of such demand. B. In the event of the withdrawal of any Fund from this Agreement, all its rights and obligations, except for lease commitments, under this Agreement (except such rights or obligations as have accrued prior to the date of withdrawal) shall terminate as of the date of the withdrawal. The withdrawing Fund shall surrender its Shares to Service Company, and (1) shall be entitled to receive from Service Company an amount equal to the excess of the fair value of (i) its Shares of other securities Service Company as of the date of its withdrawal less (ii) its proportionate interest in any liabilities of Service Company, including when appropriate any commitments of Service Company and unexpired leases at the date of withdrawal; (2) shall be obligated to pay Service Company an amount equal to the excess of (ii) over (i). Such amount to be received from or paid to Service Company shall be determined by the favorable vote of the holders of a majority of the Shares whose determination shall be conclusive upon the Funds. Any amount found payable by the Service Company to the withdrawing Fund shall be recoverable by Service Company from the Funds remaining under this Agreement in accordance with the provisions of Section 1.2, 1.3 and 1.4 hereof.

  • Are There Penalties for Early Distribution from a Xxxx XXX As indicated above, earnings on your contributions, as well as amounts contributed to a Xxxx XXX as a rollover from a Traditional IRA, that are distributed before certain events are subject to various taxes. Please see IRS Publication 590 for further information about Xxxx XXX rules and restrictions.

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