Payment Criteria definition

Payment Criteria means the payment criteria specified in item 2.2(a)of Schedule 1;

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Payment Criteria means, in respect of any grant of Performance Share Units, the criteria stipulated by the Committee (subject, in the case of any Participant who is the Employee of a Subsidiary, to consideration of any such criteria recommended by the board of directors of the Subsidiary employer of such Participant) and set out in the applicable Performance Share Unit Grant Agreement (other than the mere continuation of Service or the mere passage of time) and any additional criteria stipulated by the Committee pursuant to Section 4.1(c) in respect of such grant, the satisfaction of which is a condition of the vesting of such Performance Share Units;

Payment Criteria means the payment criteria specified in clause 6.3.

Examples of Payment Criteria in a sentence

• Without limiting any other right or remedy of DFAT, DFAT may reduce the amount of any instalment of grant funding under this Agreement: if by the date for payment of the instalment the Recipient has not spent Funds in accordance with the Payment Criteria, by the amount that has not been spent; or if Funds have been spent other than in accordance with this Agreement, by the amount that was spent other than in accordance with this Agreement.

• Subject to this Clause 7 and DFAT being satisfied with: the Recipient's performance of the Activity; and the achievement of the Payment Criteria, DFAT must make payment within 30 days of receiving a correctly rendered invoice.

• Claims for payment If the Recipient has achieved the Payment Criteria in respect of the applicable instalment, then not earlier than the due date specified in item 3 of Schedule 3, the Recipient must submit to DFAT a claim for payment of the relevant instalment of the grant funding (Payment Claim).

• Claims for payment If the Recipient has achieved the Payment Criteria in respect of the applicable instalment, then not earlier than the due date specified in Table 2 (Payment Criteria) of Part A (Agreement Details), the Recipient must submit to DFAT a claim for payment of the relevant instalment of the grant funding.

• Payment Criteria the Milestones and other payment criteria specified in item 3 of Schedule 4.

• Invoicing Requirements To be a correctly rendered invoice the invoice must include: the agreement number and Activity title; the payment event number(s) notified by DFAT; the amount of grant funding to be paid by DFAT together with any substantiating material required; the name of the DFAT Representative; be accompanied by any supporting documentation and other evidence specified in Table 2 (Payment Criteria) of Part A (Agreement Details) for that instalment; and such other information as DFAT requires.

• Subject to this Clause 7 (Payment of Funds by DFAT) and DFAT being satisfied with: the Recipient's performance of the Activity; and the achievement of the Payment Criteria, DFAT must make payment within 30 days of receiving a correctly rendered invoice.

• The Recipient must provide acquittal reports: As required by the Payment Criteria in Table 2 (Payment Criteria) of Part A (Agreement Details); and within 60 days after the earlier of the Activity End Date, expiry or termination of this Agreement .

• Subject to this Agreement, if the Recipient has met the Payment Criteria for a payment the subject of a Funds Payment Request, ARENA must make payment within 30 Business Days after receiving a correctly rendered invoice into the account nominated by the Recipient.

• If the Department determines under clause 6.2(b) that the Payment Criteria has not been satisfied, then either party may refer the Dispute to an Expert under clause 26(f).

More Definitions of Payment Criteria

Payment Criteria in respect of any Performance-Based Unit or Incentive Award, means the performance criteria set out in the Agreement in respect of such Unit or Award that must be satisfied as a condition to payment. “Payment Criteria Period”, in respect of any Performance-Based Unit or Incentive Award, means the period during which performance is to be measured for purposes of such Unit or Award. “Payment Date” means (a) with respect to Performance-Based Units or Incentive Awards, the last day of the Payment Criteria Period, (b) with respect to Service- Based Units, the Vesting Date as determined in accordance with the Participant’s Agreement, or (c) where a Change of Control has occurred, the date that is immediately prior to the date of the event(s) resulting in the Change of Control. “Payout Amount” means, with respect to each Award, the amount payable on the Payment Date, determined in accordance with Section 5.1. “Payout Percentage”, in respect of any Performance-Based Unit or Incentive Award, means the percentage of the target amount of the Unit or Award determined by the Committee to have been earned for purposes of the calculation of the Payout Amount in accordance with Section 5.1. 4

Payment Criteria means a resident who has timely paid full rent for such resident’s rent for the twelve (12) months immediately prior to such resident’s move out from the existing housing at the Development. A resident will not be denied Legacy Resident status due to the fact that the unit in question failed to meet the requirements for receipt of housing choice vouchers from the Federal government if such resident would have otherwise qualified.

Payment Criteria in respect of any Performance-Based Unit or Incentive Award, means the performance criteria set out in the Agreement in respect of such Unit or Award that must be satisfied as a condition to payment. “Payment Criteria Period”, in respect of any Performance-Based Unit or Incentive Award, means the period during which performance is to be measured for purposes of such Unit or Award. “Payment Date” means, unless otherwise specified herein (a) with respect to Performance-Based Units or Incentive Awards, the last day of the Payment Criteria Period, and (b) with respect to Service-Based Units, the Vesting Date as determined in accordance with the Participant’s Agreement. “Payout Amount” means, with respect to each Award, the amount payable on the Payment Date, determined in accordance with Section 4.3 or 5.1. “Payout Percentage”, in respect of any Performance-Based Unit or Incentive Award, means the percentage of the target amount of the Unit or Award determined by the Committee to have been earned for purposes of the calculation of the Payout Amount in accordance with Section 5.1. “Peer Group” means the group of North American regulated public utilities determined from time to time by the Fortis Board (or a committee thereof) in accordance with its guidelines and used for purposes of executive compensation decisions by Fortis and its Affiliates. “Performance-Based Unit” means a Unit with respect to which the Payout Amount is determined in accordance with Section 5.1(a). “Person” includes any individual, corporation, partnership, firm, joint venture, syndicate, association, trust, government, governmental agency and any other form of entity or organization. “Restatement” means a material restatement of financial results of the Company and its consolidated subsidiaries. “Restatement Period” means the financial periods of the Company covered by a Restatement. “Retirement” means the retirement of a Participant from Service with the Company or a Subsidiary upon or after completing 10 years of Service after attaining the age of 45 if the Participant has provided the Company with at least 90 days’ written notice of such retirement.

Payment Criteria means the criteria set out in clause 5.1. Personal Information has the same meaning as in the Privacy and Personal Information Protection Act 1998 (NSW).