Mitigation Amount definition
Examples of Mitigation Amount in a sentence
For example, if MVP terminates the Project after having tree-cleared and grubbed 25 miles of the route, and further assuming for the sake of example that the total number of miles of the pipeline route requiring such activities in Virginia is 50 miles, then each partner would be responsible for returning to MVP one-half (determined by dividing 25 miles by 50 miles) of the portion of the Mitigation Amount that it received from MVP.
This MOA shall not be construed as granting to the Mitigation Partner any legal or equitable right, remedy, or claim against the Commonwealth or MVP to demand payment of any portion of the Mitigation Amount established under the Mitigation Agreement, but that upon receipt of such payment this MOA shall become enforceable against the Mitigation Partner.
Out of the total Mitigation Amount established in Paragraph 1, MVP shall pay the amount of Twenty Million Dollars ($20,000,000) to the entities and in the allocated amounts and by the deadlines set forth in Paragraph 2.a. The Parties further agree that such amount fully satisfies any and all mitigation responsibilities related to and otherwise fully offsets the direct or indirect forest-related impacts of the Project in Virginia.
To the extent that either Party identifies revised or additional mitigation measures relevant to the Project and of potential benefit to the natural resources in Virginia, either Party may propose a reallocation of the Mitigation Amount in furtherance thereof through re-prioritization or re- allocation of the Mitigation Amount.
If the Purchase Shortfall Mitigation Amount is greater than the Purchase Shortfall Price, then the Purchase Shortfall Amount will be zero.
The priorities identified for and the allocations of the Mitigation Amount set forth in this Agreement reflect the full extent of natural resources-related mitigation measures and investments contemplated for the Project by the Parties.
Upon request by the Bank, the Employee shall provide such information as is necessary to determine the Mitigation Amount.
Notwithstanding the foregoing, amounts paid from a deferred compensation plan, tax-qualified retirement plan (within the meaning of Code Section 401(a)) or equity-based compensation plan sponsored or maintained by the Bank or any Affiliate shall not be taken into account in determining the Employee’s Mitigation Amount.
Out of the total Mitigation Amount established in Paragraph 1, MVP shall pay the amount of Seven Million Five Hundred Thousand Dollars ($7,500,000) to entities and in the allocated amounts and by the deadlines set forth in Paragraph 3.a., 3.b., and 3.
Notwithstanding the foregoing, amounts paid from a deferred compensation plan, tax-qualified retirement plan (within the meaning of Code Section 40l(a)) or equity-based compensation plan sponsored or maintained by the Bank or any Affiliate shall not be taken into account in determining the Employee’s Mitigation Amount.