Penalty Deductions definition

Penalty Deductions means the deductions as described in Schedule 1: Payment Mechanisms;
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Penalty Deductions has the meaning given to the term in the PPP Agreement;
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Penalty Deductions means the deductions to the Unitary Payments as contemplated in Schedule 1: Payment Mechanisms of the PPP Agreement;
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Examples of Penalty Deductions in a sentence

  • Program Penalty Deductions (Up to -20 points)Points may be deducted for applications from Applicants with substantially incomplete Office of Community Renewal contracts, significant uncommitted resources or documented grant administration issues including, but not limited to, multiple amendments to grant agreement, fiscal concerns, or participant complaints.

  • Program Penalty Deductions (Up to -20 points)Points may be deducted for applications from applicants with substantially incomplete OCR contracts, significant uncommitted resources or documented grant administration issues including, but not limited to, multiple amendments to grant agreement, fiscal concerns, or participant complaints.

  • In addition to undisputed Penalty Deductions, the Municipality may, at its discretion, retain or setoff any undisputed amount owed to it by the Private Party under this PPP Agreement (other than the Hazardous Waste Levy) which has, by agreement or determination under this PPP Agreement, become due and payable to the Municipality against any amount due to the Private Party under this PPP Agreement, including any termination payment due to the Private Party under this PPP Agreement.

  • Program Penalty Deductions (Up to -20 points)Points may be deducted for applications from Applicants with substantially incomplete Office of Community Renewal contracts, significant uncommitted resources or documented grant administration issues including, but not limited to, multiple amendments to grant agreements, fiscal concerns, or participant complaints.

  • The Damage on account of delay in implementation of Phase I & Phase II will be in addition to Penalty Deductions on account of Breach of SLAs which is on account of Operation and Maintenance Phase.

  • Program Penalty Deductions (Up to -20 points)Points may be deducted for applications from applicants with substantially incomplete OCR contracts, significant uncommitted resources or documented grant administration issues including, but not limited to, multiple amendments to grant agreement, fiscal concerns, or participant complaints.RESTORE PROGRAM A.

  • Only if the monitoring indicates unavailability or poor performance, should Penalty Deductions be made.

  • The performance regime should still apply so that Penalty Deductions may still accrue (save for termination purposes) and this should be made clear.288 The approach here is to set out a quick procedure so that relief can be given or refused on a sensible timescale without additional delays.

  • Program Penalty Deductions (Up to -20 points)Points may be deducted for applications with substantially incomplete OCR contracts, significant uncommitted resources or documented grant administration issues including, but not limited to, multiple amendments to grant agreements, fiscal concerns, or participant complaints.

  • See Part M: (Black Economic Empowerment).402 See Part S:83.3 (Miscellaneous: Changes in Shareholding and Control).403 This assumes that the PPP Agreement has provisions for the allocation of Penalty Deductions in respect of defaults on the part of the Private Party that in and of themselves are not sufficient to constitute Private Party Default.

Related to Penalty Deductions

  • Transaction Deductions means the sum of all items of loss or deduction for U.S. federal income tax purposes resulting from or attributable to (a) the payment of legal, financial advisory, accounting and other fees and expenses of the Group Companies (but not of Buyer) in connection with the transactions contemplated hereby, including the Seller Transaction Expenses and (b) any other payment contemplated by this Agreement that is in the nature of compensation for U.S. federal income tax purposes.

  • True-Up Amount means the difference between the ABO calculated by using the member’s actual creditable service and the actual final average compensation as of the member’s effective date in the FRS Investment Plan and the ABO initially transferred.

  • Seller Taxes has the meaning set forth in Section 11.1(f).

  • Agreed Deductions means any deductions the Agency Worker has agreed can be made from their pay;

  • Permitted Deductions means the sum of, without duplication, the following costs or expenses:

  • After Tax Amount means the amount of the Aggregate Payments less all federal, state, and local income, excise and employment taxes imposed on the Executive as a result of the Executive’s receipt of the Aggregate Payments. For purposes of determining the After Tax Amount, the Executive shall be deemed to pay federal income taxes at the highest marginal rate of federal income taxation applicable to individuals for the calendar year in which the determination is to be made, and state and local income taxes at the highest marginal rates of individual taxation in each applicable state and locality, net of the maximum reduction in federal income taxes which could be obtained from deduction of such state and local taxes.

  • Allocated Loss Adjustment Expenses or “ALAE” means all court costs and court expenses; pre- and post-judgement interest; fees for service of process; attorneys’ fees; cost of undercover operative and detective services, costs of employing experts; costs for legal transcripts; costs for copies of any public records; costs of depositions and court-reported or recorded statements; costs and expenses of subrogation; and any similar fee, cost or expense reasonably chargeable to the investigation, negotiation, settlement or defense of a loss or a claim or suit against you, or to the protection and perfection of your or our subrogation rights.

  • Allowable Deductions means the following costs, charges, and expenses incurred or accrued by Payor:

  • Post-Distribution Tax Period means a Tax year beginning and ending after the Distribution Date.

  • Tax Amount has the meaning set forth in Section 4.01(b)(i).

  • Net After Tax Amount means the amount of any Parachute Payments or Capped Payments, as applicable, net of taxes imposed under Code Sections 1, 3101 (b) and 4999 and any State or local income taxes applicable to the Executive on the date of payment. The determination of the Net After Tax Amount shall be made using the highest combined effective rate imposed by the foregoing taxes on income of the same character as the Parachute Payments or Capped Payments, as applicable, in effect on the date of payment.

  • Tax Fees means the aggregate fees billed in each of the last two fiscal years for professional services rendered by the Company’s external auditor for tax compliance, tax advice and tax planning.

  • Pre-Distribution Tax Period means any taxable period (or portion thereof) that ends on or before the Distribution Date.

  • Asset Taxes means all ad valorem, property, excise, severance, production or similar Taxes (including any interest, fine, penalty or addition to Tax imposed by a taxing authority in connection with such Taxes) based upon operation or ownership of the Assets or the production of Hydrocarbons therefrom but excluding, for the avoidance of doubt, (a) income, capital gains, franchise and similar Taxes and (b) Transfer Taxes.

  • Closing Fees means those fees required to be paid on the Closing Date pursuant to the Fee Letter.

  • Straddle Tax Period means a Tax period that begins on or before the Closing Date and ends thereafter.

  • Adjustment Escrow Amount means $1,000,000.

  • Excess Penalty Charges With respect to any Serviced Loan and any Collection Period, the sum of (A) the excess of (i) any and all Penalty Charges collected in respect of such Serviced Loan during such Collection Period, over (ii) all unpaid or unreimbursed Advances and Additional Trust Fund Expenses (including, without limitation, interest on Advances to the extent not otherwise paid or reimbursed by the related Mortgagor, but excluding Special Servicing Fees, Workout Fees and Liquidation Fees) outstanding or previously incurred on behalf of the Trust (and, if applicable, the related Serviced Companion Loan Holder) with respect to such Serviced Loan and reimbursed from such Penalty Charges (which such Advances and Additional Trust Fund Expenses shall be reimbursed from such Penalty Charges) in accordance with Section 3.14 of this Agreement and (B) Advances and expenses previously paid or reimbursed from Penalty Charges as described in the immediately preceding clause (A), which Advances and expenses have been recovered from the related Mortgagor or otherwise.

  • Tax Period means, with respect to any Tax, the period for which the Tax is reported as provided under the Code or other applicable Tax Law.

  • Assumed Tax Liability means, with respect to any Member, an amount equal to the excess of (i) the product of (A) the Distribution Tax Rate multiplied by (B) the estimated or actual cumulative taxable income or gain of the Company, as determined for federal income tax purposes, allocated to such Member (or its predecessor) for full or partial Fiscal Years commencing on or after January 1, 2021, less prior losses of the Company allocated to such Member (or its predecessor) for full or partial Fiscal Years commencing on or after January 1, 2021, in each case, as determined by the Manager and to the extent such prior losses are available to reduce such income over (ii) the cumulative Tax Distributions made to such Member after the closing date of the IPO pursuant to Sections 4.01(b)(i), 4.01(b)(ii) and 4.01(b)(iii) and, if applicable with respect to such Fiscal Year, pursuant to Section 4.1(a) of the Previous LLC Agreement; provided that, in the case of the Corporation, such Assumed Tax Liability (x) shall be computed without regard to any increases to the tax basis of the Company’s property pursuant to Sections 734(b) or 743(b) of the Code and (y) to the extent permitted under the Credit Agreements and applicable Law, shall in no event be less than an amount that will enable the Corporation to meet both its tax obligations and its obligations pursuant to the Tax Receivable Agreement for the relevant Taxable Year; provided further that, in the case of each Member, and for the avoidance of doubt, such Assumed Tax Liability shall take into account any Code Section 704(c) allocations (including “reverse” 704(c) allocations) to the Member.

  • Post-Closing Straddle Period means the portion of a Straddle Period beginning the day after the Closing Date.

  • Straddle Period means any taxable period beginning on or prior to and ending after the Closing Date.

  • Cumulative Retained Excess Cash Flow Amount means, at any date, an amount, not less than zero in the aggregate, determined on a cumulative basis equal to the aggregate cumulative sum of the Retained Percentage of Excess Cash Flow for all Excess Cash Flow Periods ending after the Closing Date and prior to such date.

  • Post-Closing Adjustment Amount has the meaning set forth in Section 1.9.3.

  • Net Taxable Income has the meaning set forth in Section 4.01(b)(i).

  • Exception Payments means payments to deposit accounts or brokerage accounts, payments to settle securities transactions (including, without limitation, stocks, bonds, securities, futures (forex), options, or an investment interest in any entity or property).