Net Basis definition

Net Basis means gross reserves allocable to the Subject Business, excluding any reserves for ULAE and any reserves for Extra Contractual Obligations (other than Reinsured Extra Contractual Obligations), less Third Party Reinsurance Recoverables, in each case as of the date of the determination.
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Net Basis means that the Indebtedness component of the applicable leverage ratio shall be calculated net of unrestricted cash and Cash Equivalents (not exceeding $25,000,000 in the aggregate) of the Borrower and its Subsidiaries subject to a first priority lien in favor of the Administrative Agent, for the benefit of the Secured Parties, pursuant to a Control Agreement; provided, however, that the foregoing perfection and priority requirement shall be disregarded during the timeframe provided under Section 4.15 to obtain control agreements.
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Net Basis means that Tenant pays for all operating expenses incurred for the Premises, without reference to any base year. If Tenant does not exercise its option to lease the applicable ROFR Premises within 20 Business Days after receipt of a First Refusal Notice for such ROFR Premises, then Landlord may enter into a lease with a third party for the subject ROFR Premises upon the same material terms stated in the First Refusal Notice. Landlord shall again comply with the terms of this Right of First Refusal prior to entering into a lease of the subject ROFR Premises with a third party. This shall be a continuing Right of First Refusal, and, provided that Tenant is not in uncured default, shall apply to any new lease of the ROFR Premises during the Term (but shall not, however, apply to renewals or extension rights set forth in leases in existence as of the Effective Date). Further, with respect to existing tenants located in the ROFR Premises which do not have a renewal or extension right set forth in their applicable lease, Landlord may negotiate with such existing tenant a renewal or extension of their existing lease provided that Landlord shall have first given Tenant an opportunity to exercise the Right of First Refusal with respect to such ROFR Premises as described in this Section 2 which such opportunity must be delivered to Tenant no earlier than twelve (12) months, nor later than nine (9) months, prior to the end of the existing tenant's lease expiration date. Notwithstanding anything herein to the contrary, (i) Tenant shall not be entitled to the Right of First Refusal during the last twelve months of the term of this Lease, and (ii) Tenant shall not be entitled to the Right of First Refusal if Tenant shall have assigned, sublet or otherwise transferred the Lease at any time, other than a Permitted Transfer or an Affiliate Transfer. The Right of First Refusal is personal to Tenant or the transferee of a Permitted Transfer or an Affiliate Transfer and cannot be transferred or otherwise assigned, and may only be exercised, when and if Tenant or a Permitted Transferee or an Affiliate Transfer is in physical occupancy of the entire Premises.
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Examples of Net Basis in a sentence

  • Remittances shall be on a "Net Basis," defined as amounts owed between the Parties under this Agreement.

  • Determination of rebate level shall be based on the total number of units billed to Customer during the applicable period on a Net Basis.

  • The Lessee agrees to pay to the Lessor as rent for the Premises for each year of the Lease term, on a Triple Net Basis, the sum of Thirty Thousand and 00/100 dollars ($30,000.00) per annum, payable in advance in equal monthly installments of Two Thousand Five Hundred and 00/100 dollars ($2,500.00) each, Rent shall be paid as follows: by good funds check made out to Price Margaret H LTD L.L.C., ▇▇▇▇▇ ▇▇▇▇▇d to, Attn: Gene Holm, Price Margaret ▇ ▇▇▇,.

  • For the avoidance of doubt, for any given period, the Sales Number, the Digital Sales Number and the Customer Clinic Number shall each include the number of Viennatone products sold on a Net Basis during such period but shall each exclude the number of Avance units and V-Series units sold on a Net Basis during such period.

  • The "Net Basis Price" shall equal the closing price of the Common Stock (as reported on the NYSE by Bloomberg, L.P. or such other reputable financial information service as shall be designated by the Holder and be reasonably acceptable to the Issuer) as of three (3) Business Days before and excluding the date on which a Warrant Notice is delivered.

  • In the event of a Net Basis Settlement (as defined in the Warrant), the determination of whether the Maximum Number of Common Stock has been issued shall be made based on the number of shares of Common Stock actually issued in such Net Basis Settlement.

  • The Lessee agrees to pay the following to the Lessor as rent for the Premises for each year of the Lease term, on a Triple Net Basis, payable in advance in equal monthly installments: Minimum Monthly Rent: $17,083.33 NNN The rent is payable in advance on the 4th day of each month, with the first month to be paid on the date provided herein as the commencement date, May 4, 2007.

  • The Borrower shall hold at any time on an aggregate basis: (a) as a Net Outright Position, no more than 100,000 Barrels of Product, and (b) as a Net Basis Position, no more than 2,200,000 Barrels of Product (provided that in each case all such positions shall include options on a Delta Equivalent Basis).


More Definitions of Net Basis

Net Basis means those shares that remain after shares are sold or withheld, as the case may be, to (i) pay any applicable exercise price for a stock option or (ii) satisfy withholding tax obligations arising in connection with the exercise, vesting or payment of an equity award.
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Net Basis means, with respect to the exercise of an option or warrant, in lieu of the payment of the applicable per share exercise price in cash, the conversion of such option or warrant into a number of shares of the stock subject to such option or warrant equal to: S * (V-X)/V, where S is the number of shares of stock subject to such option or warrant, V is the fair market value of each such share, and X is the applicable per share exercise price.
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Net Basis means net of any approved reinsurance as per section iv.5;
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Net Basis means gross reserves allocable to the Subject Business, excluding any reserves for ULAE and any reserves for Extra Contractual Obligations (other than Reinsured Extra Contractual Obligations), less Third Party Reinsurance Recoverables, in each case as of the date of the determination. “Aspen” has the meaning set forth in the Preamble. “Aspen Annual Investment Return” means, with respect to each Crediting Interest Rate Period, the total return on the total investments and cash and cash equivalents of Aspen Parent and all of its subsidiaries during such Crediting Interest Rate Period, in each case, as set forth on the books and records of Aspen Parent. For the avoidance of doubt, such return shall include all net investment income and realized and unrealized gains and losses during each such respective period. “Aspen Parent” has the meaning set forth in the Preamble. “Base Crediting Interest Rate” means a rate of 1.75% per annum, compounded daily. “Base Crediting Interest Rate Accrued Amount” means, with respect to any period, the amount of interest accrued on the applicable Prior Funds Withheld Account Balance Average if interest accrued on such amount at the Base Crediting Interest Rate. “Books and Records” means originals or copies of all records and all other data and information (in whatever form maintained) in the possession or control of Aspen or its Affiliates to the extent relating to the Subject Business or the Reinsured Policies, including (a) administrative records, (b) claim records, (c) policy files, (d) sales records, (e) files and records relating to Applicable Law, (f) underwriting records and (g) accounting records, but excluding (i) Tax Returns and Tax records and all other information and data with respect to Tax, (ii) files, records, data and information with respect to employees, (iii) records, data and information with
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Net Basis shall have the meaning set forth in Section 6.8 hereof.
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Net Basis. The Contractual Partner shall, where no use by the client has been agreed, receive the datasets from the generation process for comparison with his own databank or the databank of his client (provided this is permissible under data protection law). In the case of agreement on use by the client, the client will receive the data for comparison with his own databank. The Contractual Partner will pay for the new or net datasets, which means for such datasets as are not already present in his databank or in the databank of his client. For this purpose, a dataset will already be deemed as new or net if it is only the agreed advertising channel (Email, Telephone, Post or SMS), via which the user is to be contacted, that was absent from the databank of the Contractual Partner or that of his client (hereinafter “Net dataset “). Hence, a dataset should, for example, already be viewed as a net dataset if all the other parameters in the dataset are identical, except for the email address, but it is precisely via the email address that the user is to be contacted. This applies correspondingly for the advertising channels telephone, post and SMS. The Contractual Partner is obliged to report to eGENTIC the net datatsets obtained in this way. If the Contractual Partner or - in the case of a stipulated supply to a client - the client has not sent any report to eGENTIC two weeks after receipt of the data Delivery, eGENTIC shall from that date have the right to submit to the Contractual Partner a charge using a minimum charge rate of 95% of the original order.
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Related to Net Basis

  • Interest Basis means the First Interest Basis or the Second Interest Basis, as applicable.

  • Dry weight basis means 100 percent solids (i.e. zero percent moisture).

  • Consistent Basis in reference to the application of GAAP means the accounting principles observed in the period referred to are comparable in all material respects to those applied in the preparation of the audited financial statements of the Borrower referred to in Section 6.6(a).

  • Adjusted Net Book Value means, as of any date of determination, with respect to each Adjusted Program Vehicle as of such date, the product of 0.965 and the Net Book Value of such Adjusted Program Vehicle as of such date.

  • Average Net Assets means the average of all of the determinations of the Fund’s net asset value at the close of business on each business day during each month while this Contract is in effect. The fee is payable for each month within 15 days after the close of the month. The fees payable by the Fund to the Manager pursuant to this Section 3 will be reduced by any commissions, fees, brokerage or similar payments received by the Manager or any affiliated person of the Manager in connection with the purchase and sale of portfolio investments of the Fund, less any direct expenses approved by the Trustees incurred by the Manager or any affiliated person of the Manager in connection with obtaining such payments. In the event that expenses of the Fund for any fiscal year exceed the expense limitation on investment company expenses imposed by any statute or regulatory authority of any jurisdiction in which shares of the Fund are qualified for offer or sale, the compensation due the Manager for such fiscal year will be reduced by the amount of excess by a reduction or refund thereof. In the event that the expenses of the Fund exceed any expense limitation which the Manager may, by written notice to the Fund, voluntarily declare to be effective subject to such terms and conditions as the Manager may prescribe in such notice, the compensation due the Manager will be reduced, and if necessary, the Manager will assume expenses of the Fund, to the extent required by the terms and conditions of such expense limitation. If the Manager serves for less than the whole of a month, the foregoing compensation will be prorated.