Allocation Principle definition

Allocation Principle means the principle that: (1) (A) any properties that are over 50% occupied by one party will be allocated in full to such party, except (B) sites where significant investments in infrastructure by one party (e.g., labs, data centers) may prompt an alternative strategy; and (2) the party with less than 50% occupancy is generally proposed to move to another location to enable consolidation of other operations by the majority occupier.

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Allocation Principle means the principle that: (1) any Property that is Majority Occupied by one party will be allocated in full to such party (the “Majority Occupant”); and (2) the other party (the “Minority Occupant”) is generally expected to relocate (either to a different Property or elsewhere) to enable consolidation of operations by the parties, but in no event shall the Minority Occupant be required to vacate earlier than the expiration date of any applicable lease or sublease entered into pursuant to this Agreement.

Allocation Principle means the principle that: (1) any Property that is Majority Occupied by one party will be allocated in full to such party; and (2) the other party (the “Minority Occupant”) is generally expected to relocate (either to a different Property or elsewhere) to enable consolidation of operations by the parties, but in no event shall the Minority Occupant be required to vacate earlier than the expiration date of any applicable lease or sublease entered into pursuant to this Agreement unless such action is agreed upon in the manner set forth in Section 2.13; it being understood that for substantially all of the Sublease Properties, the Minority Occupant will sublease a portion of such Property for the duration of the underlying lease.

Examples of Allocation Principle in a sentence

If the Party that receives such written notice disputes in good faith the application of the Allocation Principle with respect to any such amendment, such dispute shall be resolved in accordance with Article XI, Section 11.02 (Dispute Resolution) of the Separation Agreement.
To the extent that the Transferred Sites Schedule and the Colocation Sites Schedule require amendments made (i) in accordance with the Allocation Principle in all material respects following the date hereof, or (ii) as a result of changes to allocations made in accordance with Section 2.10, SpinCo or Parent shall provide written notice to the other Party prior to amending the Transferred Sites Schedule or the Colocation Sites Schedule.
SpinCo shall conduct such additional tests, assays, studies and other activities, including Preclinical Functional Efficacy Studies, with respect to the Exception Compounds as the Company may request in writing during the Research Term, consistent with the Resource Allocation Principle, to enable the Company to determine whether it wishes to select the Exception Compounds as Company Selected Compounds or exercise an Option with respect to the Exception Compounds.
If SpinCo disputes in good faith the application of the Allocation Principle with respect to any such amendment, such dispute shall be resolved in accordance with Article VIII (Dispute Resolution) of the Separation Agreement.
Any amendments or revisions to the Owned and Leased Properties Spreadsheet and the Colocation Site Spreadsheet prior to the Distribution Date will be made in accordance with clauses (1)(A) and (2) of the Allocation Principle in all material respects, subject to changes reasonably necessary as a result of the outcome of the OD&S Process (as defined in the Employee Matters Agreement) in order to remain consistent in all material respects with such allocation principles.
Houston hereby represents and warrants to ▇▇▇▇▇▇▇ that the Owned and Leased Properties Spreadsheet and the Colocation Site Spreadsheet each were prepared in accordance with clauses (1)(A) and (2) of the Allocation Principle in all material respects, subject to changes reasonably necessary as a result of the outcome of the OD&S Process (as defined in the Employee Matters Agreement) in order to remain consistent in all material respects with such allocation principles.
To the extent that the Owned and Leased Properties Schedule and the Colocation Sites Schedule require amendments made (i) in accordance with the Allocation Principle in all material respects following the date hereof, or (ii) as a result of changes to allocations made in accordance with Section 2.13, Parent shall provide written notice to SpinCo prior to amending the Owned and Leased Properties Schedule or the Colocation Sites Schedule.
If SpinCo disputes in good faith the application of the Allocation Principle with respect to any such amendment, such dispute shall be resolved in accordance with Article XI, Section 11.02 (Dispute Resolution) of the Separation Agreement.
Order 1000 Cost Allocation Principle Third Restated PEFA 1 Costs of transmission facilities must be allocated to those within transmission planning region that benefit from such facilities in manner that is at least roughly commensurate with estimated benefits.
The accounting firm shall resolve such dispute in a manner consistent with the Initial Allocation Principle.

More Definitions of Allocation Principle

Allocation Principle means the principle that: (1) any Property that is Majority Occupied by one party will be allocated in full to such party (the “ Majority Occupant ”); and (2) the other party (the “ Minority Occupant ”) is generally expected to relocate (either to a different Property or elsewhere) to enable consolidation of operations by the parties, but in no event shall the Minority Occupant be required to vacate earlier than the expiration date of any applicable lease or sublease entered into pursuant to this Agreement.

Allocation Principle means the principle that as of the Real Estate Separation Date, without taking into account temporary remote working requirements related to the COVID-19 pandemic, and provided the parties have not agreed otherwise, (1)(a) any Property where SpinCo has a plurality or greater of the employees occupying such Property (taking into account the employees relating to SpinCo and the business units within the Parent Group (i.e., aviation or energy, each such business unit taken in its entirety and not with reference to subunits of such business unit), will be allocated in full to SpinCo, or (b) any Property where such business unit within the Parent Group has a plurality or greater of the employees occupying such Property will be allocated in full to that business unit. SpinCo or the Parent Group business unit having the plurality or greater of the employees occupying a given Property may be referred to hereunder as the Majority Occupant. For Properties where there are Unassigned Parent Corporate Employees, such employees shall be excluded from determinations of the whether SpinCo or another business unit within Parent has a plurality or greater of the employees occupying a Property. This Allocation Principle is not applicable to the Corporate Sites as listed in Schedule 4, which sites will remain with Parent Group, nor will this Allocation Principle be applied to Special Sites as listed on Schedule 5, which will be governed exclusively by the Environmental Supplemental Agreement, an ancillary agreement to the Separation Agreement.

Allocation Principle means the principle that: (1) (A) any properties that are over 50% occupied by one party will be allocated in full to such party, except (B) sites where significant investments in infrastructure by one party ( e.g. , labs, data centers) may prompt an alternative strategy; and (2) the party with less than 50% occupancy is generally proposed to move to another location to enable consolidation of other operations by the majority occupier.