Loss A Loss (also referred to as dilution) results when a fund or, in the case of a multi-class fund, a class either (1) has paid excess redemption proceeds as a result of an overstated NAV or (2) has received insufficient subscription monies as a result of an understated NAV (in either case, transacting shareholders benefit from transacting at the misstated NAV, to the detriment of the fund or class).
Loss of An employee shall lose all seniority and shall be deemed terminated if:
PRODUCTIVITY The Productivity Scheme which was agreed to is: Contained in Annexure B.
Workforce A. The Contractor shall employ only orderly and competent workers, skilled in the performance of the services which they will perform under the Contract.
SHRINKAGE Seller will retain 3% of all volumes delivered to Seller on Xxxxx's behalf for shrinkage and line losses. The volumes retained by Seller will not create or contribute to an imbalance. Seller reserves the right to adjust the shrinkage factor, up or down, to account for actual line losses. Xxxxxx agrees to give Buyer thirty (30) days written notice of any adjustment.
Losses After giving effect to the special allocations in Section 3.3 and 3.4 hereof, Losses for any Fiscal Year shall be allocated among the Unit Holders in proportion to Units held.
Capital Accounts The Company will maintain a Capital Account for each Member on a cumulative basis in accordance with federal income tax accounting principles.
Positive sequence component of the fundamental frequency AC bus voltage at either the Xxxx 00xx Xxxxxx 345kV Substation 345kV AC bus or the Bergen 230kV AC bus greater than the upper limit or less than the lower limit as specified in Figure G-1. For the period up to 0.5 seconds, the upper voltage limit specified in Figure G-1 shall be applied to the greater of the fundamental- frequency positive-sequence AC bus voltage in pu on the nominal line-to-line rms voltage, the crest phase-to-ground voltage of any AC bus phase in pu of times the nominal line-to-line rms voltage, and the crest phase-to-phase voltage of any AC bus phase in pu of times the nominal line-to-line rms AC bus voltage.
REDUCTION IN WORKFORCE 16.01 The employer will layoff employees in reverse order of seniority within the classification provided those retained have the ability to do the work. No new employee will be hired until all those qualified employees with recall rights have been given the opportunity to return to work and have failed to do so.
Tax Allocations Each item of income, gain, loss or deduction recognized by the Company shall be allocated among the Members for U.S. federal, state and local income tax purposes in the same manner that each such item is allocated to the Member’s Capital Accounts pursuant to Section 3.2(d) or as otherwise provided herein, provided that the Board may adjust such allocations as long as such adjusted allocations have substantial economic effect or are in accordance with the interests of the Members in the Company, in each case within the meaning of the Code and the Treasury Regulations. Tax credits and tax credit recapture shall be allocated in accordance with the Members’ interests in the Company as provided in Treasury Regulations section 1.704-1(b)(4)(ii). Items of Company taxable income, gain, loss and deduction with respect to any property (other than cash) contributed to the capital of the Company or revalued shall, solely for tax purposes, be allocated among the Members, as determined by the Board in accordance with Section 704(c) of the Code, so as to take account of any variation between the adjusted basis of such property to the Company for U.S. federal income tax purposes and its fair market value at the time of contribution or revaluation, as the case may be. All of the Members agree that the Board is authorized to select the method or convention, or to treat an item as an extraordinary item, in relation to any variation of any Member’s interest in the Company described in section 1.706-4 of the Treasury Regulations in determining the Members’ distributive shares of Company items. All matters concerning allocations for U.S. federal, state and local and non-U.S. income tax purposes, including accounting procedures, not expressly provided for by the terms of this Agreement shall be determined by the Board in its sole discretion. Each Class B Ordinary Share is intended to be treated as a profits interest for U.S. federal income tax purposes, and all of the Members agree to report consistently with, and to take any action requested by the Board to ensure, such treatment.
