Concession Compensation definition

Concession Compensation means compensation payable by the City to the Concessionaire in order to restore the Concessionaire to the same economic position the Concessionaire would have enjoyed if the applicable Compensation Event had not occurred, which compensation shall be equal to all Losses (including increased operating, financing, capital and maintenance costs of the System but excluding any costs and expenses that the Concessionaire expends or would expect to expend or incur in order to comply with this Agreement or in the ordinary course of the performance of the System Operations or the carrying on of business in the ordinary course) that are reasonably attributable to such Compensation Event, net of any Incremental Revenues attributable to such Compensation Event; provided, however, that, unless otherwise specified in this Agreement, any claim for Concession Compensation shall be made within 90 days of the date that the Concessionaire first became aware of such Compensation Event. Any Concession Compensation payable with respect to Losses that will occur in the future shall be payable at the time such Compensation Event occurs based on a reasonable determination of the net present value of the impact of such Compensation Event over the remainder of the Term. If the Concessionaire is required to provide its own capital with respect to compliance with or implementation of a City Directive or a modified or changed Operating Standard (other than a modified Operating Standard described in Section 6.3(a)) or any other Compensation Event, then the Concession Compensation, shall, in addition to the components described above, take into account the actual cost to the Concessionaire of such capital and include a then applicable market-based rate of return thereon (which market-based rate of return shall be reasonably commensurate with then-prevailing rates of return for similar assets and similar or analogous financings in the water and sewer utility industry with respect to investor owned utilities that are subject to rate regulations by Governmental Authority). For purposes of the preceding sentence, the market-based rate of return shall be initially proposed in writing by the Concessionaire to the City. The City may, in accordance with the provisions of Article 19, dispute that such market-based rate of return proposed by the Concessionaire is reasonably commensurate with then-prevailing rates of return for similar assets and similar or analogous financings in the water and sew...
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Concession Compensation means compensation payable by the IFA to the Concessionaire in order to restore the Concessionaire to the same economic position the Concessionaire would have enjoyed if such Compensation Event had not occurred, which compensation shall equal the sum of (i) all Losses (including increased operating, capital and maintenance costs but excluding any costs and expenses that the Concessionaire would otherwise expend or incur in order to comply with this Agreement or in the ordinary course of the performance of the Toll Road Operations or the carrying on of business in the ordinary course) that are reasonably attributable to such Compensation Event plus
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Concession Compensation means, with respect to a Compensation Event, compensation payable by the Commonwealth to the Concessionaire in order to restore the Concessionaire to the same after-Tax economic position that the Concessionaire would have been in if such Compensation Event had not occurred and calculated in accordance with Section 15.1(b).19
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Examples of Concession Compensation in a sentence

  • This section sets forth the procedure for determination and payment of Concession Compensation and KPI Compensation.

  • The City shall pay to the Concessionaire the Concession Compensation, after demand by the Concessionaire, resulting from any entry to or action on the System pursuant to clauses (iv), (v), (vi), (vii) and (viii); provided, however, that no Concession Compensation shall be paid to the Concessionaire with respect to any entry to or action on the System undertaken by or at the direction of the City to remedy any hazard created by the Concessionaire or the Operator.

  • To the extent the costs incurred for such connections do not qualify as O&M Costs, such costs shall be reimbursed to the Concessionaire as Concession Compensation.

  • The addition of or the removal of Concession Metered Parking Spaces and Reserve Metered Parking Spaces by the City (including any direction to install or remove Metering Devices) is not a City Directive and shall not result in Concession Compensation, but shall be governed by the provisions of Article 7.

  • The amount of the convenience fee, the minimum required credit amount and the minimum deposit amount may be Adjusted for Inflation on an annual basis, subject to approval by the City Council; provided, however, that the failure to make such adjustments shall constitute a Compensation Event; provided further that Concession Compensation shall be limited to the amount of such adjustments during the period such adjustments were not made.

  • The Concessionaire acknowledges and agrees that the adjudication of parking violations and the punishment of violators is a judicial or quasi-judicial matter and that the outcome of such adjudications (and the methods employed by the City and the Authority with respect thereto) and the punishments, if any, imposed, may not be compensated for under this Agreement and will not give rise to a Compensation Event or result in Concession Compensation in any event.

  • Schedule 10 listing the Revenue Values of the Concession Metered Parking Spaces shall be adjusted from time to time as provided in this Section 7.8. Any change in Revenue Value (other than as set forth in Section 7.1 with respect to the Initial Schedule of Parking Fees) made by the City pursuant to this Article 7 is not a Compensation Event and will not result in Concession Compensation.

  • When the completed application is received, it will be assessed by a Conservation Officer.

  • Employees, other than regular employees and regular full and part-time Pages, shall earn four per cent (4%) of their gross earnings in lieu of annual vacations in the first (1st) through and including their fourth (4th) year of service and six per cent (6%) thereafter.

  • Any change in Revenue Value (other than as set forth in Section 7.1 with respect to the Initial Schedule of Parking Fees) is not a Compensation Event and will not result in Concession Compensation.


More Definitions of Concession Compensation

Concession Compensation means with respect to (i) any applicable entry into the Cruise Port Facility pursuant to Section 3.7(a)(v) through Section 3.7(a)(vii) (but, for the avoidance of doubt, excluding access to and use of Pier 4 for the Pier 4 Reconstruction, access to and use of Piers 11-12 for the Piers 11-12 Wharf Project, access to and use of Pier 13 and Pier 14 for the Piers 13-14 Wharf Project and access to and use of Pan American Pier 1 and Pan American Pier 2 for the Pan American Piers Wharf Structure Project and any Modifications of any of the foregoing to the extent such access and use is in connection with the development of such Cruise Pier Improvement Projects using Government Contributions and in accordance with Section 4.6(f) and Section 4.6(h)), (ii) the Concession Company’s compliance with or the implementation of any Required Modification (but, for the avoidance of doubt, it is acknowledged and agreed that any development of the Design and Technical Specifications consistent with Approved 30% Design and Technical Specifications or Approved 60% Design and Technical Specifications shall not constitute a Modification and shall not be the basis for Concession Compensation) or any modified or changed Operating Standard (as contemplated by Section 6.2(c)), (iii) amounts payable as a remedy under Section 16.2(b)(i), (iv) the occurrence of an Adverse Action, (v) the circumstances described in items (vi), (vii), (viii) and (xiii) of the definition of Delay Event, (vi) any Delay Event described in Section 15.2(c) which entitles the Concession Company to a Delay Event Remedy, (vii) the circumstances described in item (ix) of the definition of Delay Event under circumstances in which the Authority possesses the authority under applicable Law to grant such access and provided that the applicable denial by the Authority of access to the Cruise Port Facility after the Closing Security Delivery Date is not the result of the exercise by the Authority of any of its rights under Section 3.7(a)(i) through (iv),
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Concession Compensation means compensation payable by the City to the Concessionaire in order to restore the Concessionaire to the same economic position the Concessionaire would have enjoyed if the applicable Compensation Event had not occurred, which compensation shall be equal to the sum of (i) all Losses (including increased operating, capital and maintenance costs but excluding any costs and expenses that the Concessionaire would otherwise expend or incur in order to comply with this Agreement or in the ordinary course of the performance of the Parking Garage System Operations or the carrying on of business in the ordinary course) that are reasonably attributable to such Compensation Event plus or minus (ii) the actual and reasonably estimated net losses or gains, as the case may be and without duplication of the costs and expenses, of the Concessionaire’s present and future Parking Fee Revenues and Other Concessionaire Revenues that are reasonably attributable to such Compensation Event (but excluding any loses attributable to parking provided or sold to City or CRALA employees or invitees, and excluding all losses attributable to non-public parking activities by Persons other than the City or CRALA); provided, however, that, unless otherwise specified in this Agreement, any claim for Concession Compensation shall be served in writing upon City within 60 Days following the earliest time that the Concessionaire became aware that the City either (i) intended to consider approving, authorizing, or undertaking such Compensation Event or (ii) that a Compensation Event had occurred, approved, or been authorized. For purposes of this provision, in the case of a potential Adverse Action, the City may, at its discretion, give Concessionaire written notice that it was considering authorizing, approving or performing an action potentially constituting a Compensation Event, in which case the time within which to serve an AA-Preliminary Notice for such action shall commence upon service of the first of such written notice. Any Concession Compensation payable with respect to Losses or lost Parking Fee Revenues or Other Concessionaire Revenues that will occur in the future shall be payable at the time such Compensation Event occurs based on a reasonable determination of the net present value of the impact of such Compensation Event over the remainder of the Term, or the duration of the Compensation Event, whichever is shorter. If the Concessionaire is required to provide its own capital w...
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Concession Compensation means, upon the termination or revocation of the Concession Title or loss of exclusivity thereunder, any compensation from Mexico or from any subsequent recipient of the Concession Title (or rights which were previously exclusive to the Company under the Concession Title other than trackage rights), which is collected, or received, by Mexico, the Company or any other Credit Party.
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Concession Compensation means any compensation payable by the University to the Concessionaire in order to restore the Concessionaire to the same economic position the Concessionaire would have enjoyed if the applicable Compensation Event had not occurred, which Concession Compensation for any Compensation Calculation Date shall be equal to the sum of (i) all Losses for the applicable Compensation Calculation Measuring Period (including increased O&M Costs (which, for the avoidance of doubt, shall be regardless of the Capped O&M Ceiling) and financing costs but excluding any costs and expenses (including O&M Costs) that the Concessionaire is able to recover through the payment of the Utility Fee) plus (ii) the actual and estimated net losses of the Utility Fee for the applicable Compensation Calculation Measuring Period that is reasonably attributable to such Compensation Event; provided, however, that with respect to clause (ii), the amount of such actual and estimated net losses that may be claimed at any Compensation Calculation Date shall not exceed the amount of actual and estimated net losses of the Utility Fee suffered during, and attributable only to, such Compensation Calculation Measuring Period (including the inability to make Capital Improvements that the University had Approved); provided, further, that with respect to clause (ii), the amount of such actual and estimated net losses reasonably attributable to such Compensation Event and suffered during, and attributable only to, a future Compensation Calculation Measuring Period may be claimed as Concession Compensation for such future Compensation Calculation Measuring Period only during such future Compensation Calculation Measuring Period in accordance with Article 15. Concession Compensation, if any, shall be paid in accordance with Article 15 and shall not be subject to any limitations on the amount of the Utility Fee including the Capped O&M Ceiling. If the Concessionaire elects to provide its own capital for a Capital Improvement with respect to compliance with any Compensation Event that is not recoverable by the Concessionaire pursuant to the Utility Fee, then the Concession Compensation, shall, in addition to the components described above, take into account a return on such capital equal to the Return on Equity Factor.
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Related to Concession Compensation

  • Requisition Compensation includes all compensation or other moneys payable by reason of any act or event such as is referred to in paragraph (b) of the definition of “Total Loss”;

  • Special compensation means payment to an adult foster care facility to ensure the provision of a specialized program in addition to the basic payment for adult foster care. Special compensation does not include payment received directly from the Medicaid program for personal care services for a resident, or payment received under the supplemental security income program.

  • Termination Compensation means a monthly cash amount equal to one-twelfth ( 1/12th) of the highest amount of the annual cash compensation (including cash bonuses and other cash-based compensation, including for these purposes amounts earned or payable whether or not deferred) received by Executive during any one of the three (3) calendar years immediately preceding the calendar year in which Executive’s Termination Date occurs; provided, that if the cash compensation received by Executive during the Termination Year exceeds the highest amount of the annual cash compensation received by Executive during any one of the immediately preceding three (3) consecutive calendar years, the cash compensation received by Executive during the Termination Year shall be deemed to be Executive’s highest amount of annual cash compensation. In no event shall Executive’s Termination Compensation include equity-based compensation (e.g., income realized as a result of Executive’s exercise of non-qualified stock options or other stock based benefits).

  • Reciprocal Compensation As defined under 47 C.F.R. §51

  • Final compensation of a member means:

  • Gross compensation means every form of remuneration payable for a given period to an individual for services provided including salaries, commissions, vacation pay, severance pay, bonuses, and any board, rent, housing, lodging, payments in kind, and any similar benefit received from the individual's employer.

  • Annual Compensation means the wages paid to the member during covered employment within the meaning of Section 3401(a) of the Internal Revenue Code, but determined without regard to any rules that limit the remuneration included in wages based upon the nature or location of employment or services performed during the plan year plus amounts excluded under Section 414(h)(2) of the Internal Revenue Code and less reimbursements or other expense allowances, cash, or noncash fringe benefits or both, deferred compensation, and welfare benefits. Annual compensation for determining benefits during any determination period may not exceed the maximum compensation allowed as adjusted for cost of living in accordance with §5-10D-7 of this code and Section 401(a)(17) of the Internal Revenue Code.

  • Basic Compensation means Salary and Benefits.

  • Bonus Compensation shall have the meaning set forth in Section 3(b).

  • Covered Compensation means any Incentive-Based Compensation granted, vested or paid to a person who served as an Executive Officer at any time during the performance period for the Incentive-Based Compensation and that was Received (i) on or after October 2, 2023 (the effective date of the Nasdaq listing standards), (ii) after the person became an Executive Officer, and (iii) at a time that the Company had a class of securities listed on a national securities exchange or a national securities association such as Nasdaq.

  • Additional Compensation has the meaning set out in Section 13.3(1).

  • Cash Compensation means any discount, concession, fee, service fee, commission, sales charge, loan, override, or cash benefit received by a producer in connection with the recommendation or sale of an annuity from an insurer, intermediary, or directly from the consumer.

  • Eligible Compensation means (i) for eligible exempt employees, such employee’s base salary at the time the Bonus or Spot Bonus is determined (prorated for time in an eligible position), and (ii) for eligible non-exempt and non-union hourly employees, such employees’ eligible wages for the applicable year as determined by the Company to be required by law.

  • Severance Compensation means the compensation set forth in (i), (ii), and (iv) above.

  • Compensation Payment means a payment, whether in monetary form or in the form of a benefit or service, by or on behalf of an insurer to a complainant to compensate the complainant for a proven or estimated financial loss incurred as a result of the insurer’s contravention, non-compliance, action, failure to act, or unfair treatment forming the basis of the complaint, where the insurer accepts liability for having caused the loss concerned, but excludes any –

  • Annual Cash Compensation means the sum of (a) the highest annual Base Salary in effect for the Executive and (b) the greater of (i) the Executive’s bonus for the most recently-completed year, if any, or (ii) the annualized amount of the Executive’s target bonus for the then current year.

  • Annual Earnings means your gross annual income from your Employer, not including shift differential, in effect just prior to the date of loss. It includes your total income before taxes. It is prior to any deductions made for pre-tax contributions to a qualified deferred compensation plan, Section 125 plan or flexible spending account. It does not include income received from commissions, bonuses, overtime pay or any other extra compensation or income received from sources other than your Employer.

  • Incentive Compensation means any compensation that is granted, earned or vested based wholly or in part upon the attainment of a Financial Reporting Measure.

  • Earned Compensation means any Annual Base Salary earned, but unpaid, for services rendered to the Company on or prior to the date on which the Employment Period ends pursuant to Section 3(a) (but excluding any salary and interest accrued thereon payment of which has been deferred).

  • Incentive Compensation Plans means annual incentive compensation plans and long‑term incentive compensation plans of the Company, which long‑term incentive compensation plans may include plans offering stock options, restricted stock and other long‑term incentive compensation.

  • Recoverable Incentive Compensation means Incentive Compensation received by a Covered Officer during the Lookback Period that exceeds the amount of Incentive Compensation that would have been received had such amount been determined based on the Accounting Restatement, computed without regard to any taxes paid (i.e., on a gross basis without regard to tax withholdings and other deductions). For any compensation plans or programs that take into account Incentive Compensation, the amount of Recoverable Incentive Compensation for purposes of this Policy shall include, without limitation, the amount contributed to any notional account based on Recoverable Incentive Compensation and any earnings to date on that notional amount. For any Incentive Compensation that is based on stock price or TSR, where the Recoverable Incentive Compensation is not subject to mathematical recalculation directly from the information in an Accounting Restatement, the Administrator will determine the amount of Recoverable Incentive Compensation based on a reasonable estimate of the effect of the Accounting Restatement on the stock price or TSR upon which the Incentive Compensation was received. The Company shall maintain documentation of the determination of that reasonable estimate and provide such documentation to the Exchange in accordance with the Listing Standards.

  • Compensation Year means a period of 12 months expiring 31 March in any year;

  • Equity Compensation means any stock option, stock appreciation, stock purchase, restricted stock, restricted stock unit, long term incentive cash bonus award or any other kind of equity-based plan, program, arrangement or grant regardless of whether the form of distribution is in stock or cash.

  • 415 Compensation means:

  • Earnable compensation means the full rate of the

  • Unemployment compensation means cash benefits (including depend- ents’ allowances) payable to individ- uals with respect to their unemploy- ment, and includes regular, additional, emergency, and extended compensa- tion.(2) Regular compensation means unem- ployment compensation payable to an individual under any State law, but not including additional compensation or extended compensation.(3) Additional compensation means un- employment compensation totally fi- nanced by a State and payable under a State law by reason of conditions of high unemployment or by reason of other special factors.(4) Emergency compensation means supplementary unemployment com- pensation payable under a temporary Federal law after exhaustion of regular and extended compensation.(5) Extended compensation means un- employment compensation payable to an individual for weeks of unemploy- ment in an extended benefit period, under those provisions of a State law which satisfy the requirements of the Federal-State Extended Unemploy- ment Compensation Act of 1970, as amended, 26 U.S.C. 3304 note, and part 615 of this chapter, with respect to the payment of extended compensation.