Performance Deductions definition

Performance Deductions means performance deductions calculated in accordance with Exhibit 4 (Performance Deductions).
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Performance Deductions. As defined in the Operating Contracts
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Performance Deductions has the meaning set forth in Schedule 1: Payment Mechanisms;
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Examples of Performance Deductions in a sentence

  • Pursuant to the C-70 Project Agreement, a failure to perform certain obligations by the Developer may result in Monthly Performance Deductions to the Performance Payments.

  • If the Consultant can prove to DOTD’s reasonable satisfaction that a single event causes the Consultant to fail to meet more than one Performance Requirement, multiple Performance Deductions will not be assessed, but instead the highest Performance Deduction applicable to such event will apply.

  • All Monthly Performance Deductions will be allocated first to a reduction in the OMR Payment, and second, to the extent that such Monthly Performance Deductions exceed the OMR Payment, to a reduction in the Capital Performance Payment, thereby resulting in a reduction to the BE CPP Obligation (and the Central 70 Net Payment transferrable from the Trustee to the Developer under the Supplemental Indenture).

  • Any excess CCD O&M Amount available as a result of Monthly Performance Deductions exceeding the OMR Payment due in such month shall be applied proportionately to reduce the CDOT OMRP Obligation and HPTE OMRP Obligation due in the following month.

  • Unlike Availability Deductions, Performance Deductions do not relate to critical aspects of the Services but rather to the less critical areas and are more performance-related.

  • Performance Deductions Without limiting the Regional District’s rights under this Agreement or otherwise, the following deductions will be applied to specific failures by the Service Provider to provide the Services or otherwise comply with the Agreement.

  • It shall set out Punctuality Performance Deductions for the previous Reporting Period and the overall Punctuality Performance Payment due for that Reporting Period.

  • On or before the fifth Business Day prior to the last day of each month, HPTE shall notify BE of any Monthly Performance Deductions in excess of the Net OMR Payment that will result in a reduction to the Capital Performance Payment owing to the Developer in the following month.

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  • Subject to clause 34.1 (Reporting and monitoring) and without prejudice to the Operator’s obligations under clause 6 (Operator Undertakings), the Operator shall be liable pursuant to clause 34.1 (Reporting and monitoring) for any Performance Deduction arising as a consequence of damage to Network Assets or defects, unless relieved by the Authority in accordance with clause 41 (Relief Events) or to the extent contemplated by Schedule 19 (Payment and Performance Deductions).


More Definitions of Performance Deductions

Performance Deductions. As defined in the VC and the Replacement Operating Contracts
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Performance Deductions. As defined in the VC and the Replacement Operating
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Performance Deductions the deductions which fall to be made from the
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Performance Deductions means the deductions provided for in Part 8 of Schedule 10 [Performance Deductions].
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Performance Deductions means the amount calculated in accordance with paragraph 6; Performance Measurement Framework Schedule [x] (Performance Management System); Performance Standards shall have the same meaning as set out in Schedule [x] (Performance Management System); Performance Standard Failure shall have the same meaning as set out in Schedule [x] (Performance Management System); Planned Price Adjustment Event Date means [fixed date] by [on] which the issuance of an Acceptance Test Certificate for a Facility is planned to occur or such other date as the Parties may agree; Price Adjustment Event Date means the date of on which a Price Adjustment Event occurs; Price Adjustment Event means an event arising from the issuance of an Acceptance Test Certificate for a Facility, thereby triggering a step up in the Base Payment Element for the Interim Service or Service Commencement for a Service Category;
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Performance Deductions has the meaning given to it in Schedule 4 (Payment Performance Measurement Framework
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Related to Performance Deductions

  • Performance Cash means any cash incentives granted pursuant to Article 9 payable to the Participant upon the achievement of such performance goals as the Committee shall establish.

  • Bonus Payments means that portion of the bonus payments received by the

  • Performance Period means the one or more periods of time, which may be of varying and overlapping durations, as the Committee may select, over which the attainment of one or more Performance Goals will be measured for the purpose of determining a Participant’s right to, and the payment of, a Performance-Based Award.

  • Performance Targets means the specific objective goal or goals (which may be cumulative and/or alternative) that are timely set in writing by the Committee for each Executive for the Performance Period in respect of any one or more of the Business Criteria.

  • Performance Measurement Period has the meaning set forth in Section 3.1(e)(ii).

  • Performance Measure means one or more of the following selected by the Committee to measure Company, Affiliate, and/or business unit performance for a Performance Period, whether in absolute or relative terms (including, without limitation, terms relative to a peer group or index): basic, diluted, or adjusted earnings per share; sales or revenue; earnings before interest, taxes, and other adjustments (in total or on a per share basis); basic or adjusted net income; returns on equity, assets, capital, revenue or similar measure; economic value added; working capital; total shareholder return; and product development, product market share, research, licensing, litigation, human resources, information services, mergers, acquisitions, sales of assets of Affiliates or business units. Each such measure shall be, to the extent applicable, determined in accordance with generally accepted accounting principles as consistently applied by the Company (or such other standard applied by the Committee) and, if so determined by the Committee, and in the case of a Performance Compensation Award, to the extent permitted under Code Section 162(m), adjusted to omit the effects of extraordinary items, gain or loss on the disposal of a business segment, unusual or infrequently occurring events and transactions and cumulative effects of changes in accounting principles. Performance Measures may vary from Performance Period to Performance Period and from Participant to Participant, and may be established on a stand-alone basis, in tandem or in the alternative.

  • Performance Year means the calendar year prior to the year in which an Annual Award is made by the Committee.

  • Performance Objectives means the performance objective or objectives established by the Committee pursuant to the Plan. Any Performance Objectives may relate to the performance of the Company or one or more of its Subsidiaries, divisions, departments, units, functions, partnerships, joint ventures or minority investments, product lines or products, or the performance of the individual Participant, and may include, without limitation, the Performance Objectives set forth in Section 13(b). The Performance Objectives may be made relative to the performance of a group of comparable companies, or published or special index that the Committee, in its sole discretion, deems appropriate, or the Company may select Performance Objectives as compared to various stock market indices. Performance Objectives may be stated as a combination of the listed factors.

  • Performance Target means the level of performance expected of the HSP in respect of a Performance Indicator or a Service Volume; “person or entity” includes any individual and any corporation, partnership, firm, joint venture or other single or collective form of organization under which business may be conducted;

  • Bonus Payment means a cash payment in an amount equal to the sum of (i) all Excise Taxes payable by the Executive, plus (ii) all additional Excise Taxes and federal or state income taxes to the extent such taxes are imposed in respect of the Bonus Payment, such that the Executive shall be in the same after-tax position and shall have received the same benefits that he would have received if the Excise Taxes had not been imposed. For purposes of calculating any income taxes attributable to the Bonus Payment, the Executive shall be deemed for all purposes to be paying income taxes at the highest marginal federal income tax rate, taking into account any applicable surtaxes and other generally applicable taxes which have the effect of increasing the marginal federal income tax rate and, if applicable, at the highest marginal state income tax rate, to which the Bonus Payment and the Executive are subject. An example of the calculation of the Bonus Payment is set forth below. Assume that the Excise Tax rate is 20%, the highest federal marginal income tax rate is 40% and the Executive is not subject to state income taxes. Further assume that the Executive has received an excess parachute payment in the amount of $200,000, on which $40,000 ($200,000 x 20%) in Excise Taxes are payable. The amount of the required Bonus Payment is thus computed to be $100,000, i.e., the Bonus Payment of $100,000, less additional Excise Taxes on the Bonus Payment of $20,000 (i.e., 20% x $100,000) and income taxes of $40,000 (i.e., 40% x $100,000), yields $40,000, the amount of the Excise Taxes payable in respect of the original excess parachute payment.

  • Performance Cash Award means an award of cash granted pursuant to the terms and conditions of Section 6(c)(ii).

  • Performance Objective means a standard established by the Committee to determine in whole or in part whether a Performance Award shall be earned.

  • Performance Measures means measures as described in Article 12 on which the performance goals are based and which are approved by the Company’s shareholders pursuant to this Plan in order to qualify Awards as Performance-Based Compensation.

  • Performance Metrics means criteria established by the Administrator relating to any of the following, as it may apply to an individual, one or more business units, divisions, or Affiliates, or on a company-wide basis, and in absolute terms, relative to a base period, or relative to the performance of one or more comparable companies, peer groups, or an index covering multiple companies:

  • Performance Cycle means one or more periods of time, which may be of varying and overlapping durations, as the Administrator may select, over which the attainment of one or more Performance Criteria will be measured for the purpose of determining a grantee’s right to and the payment of a Restricted Stock Award, Restricted Stock Units, Performance Share Award or Cash-Based Award, the vesting and/or payment of which is subject to the attainment of one or more Performance Goals. Each such period shall not be less than 12 months.

  • Performance Goal means a performance goal established by the Committee pursuant to Section 10.3.

  • Performance Bonus means the performance bonus in respect of each Class payable to the General Partner by the Partnership which will be equal to 20% of the product of: (a) the number of Units of that Class outstanding on the Performance Bonus Date; and (b) the amount by which the Net Asset Value per Unit of that Class on the Performance Bonus Date (prior to giving effect to the Performance Bonus) plus the aggregate value of all distributions per Unit of that Class during the Performance Bonus Term exceeds $25.00.

  • Performance audit means an objective and systematic assessment of a state agency or agencies or any of their programs, functions, or activities by the state auditor or designee in order to help improve agency efficiency, effectiveness, and accountability. Performance audits include economy and efficiency audits and program audits.

  • Performance Goals means, for a Performance Period, the one or more goals established by the Board for the Performance Period based upon the Performance Criteria. Performance Goals may be based on a Company-wide basis, with respect to one or more business units, divisions, Affiliates, or business segments, and in either absolute terms or relative to the performance of one or more comparable companies or the performance of one or more relevant indices. Unless specified otherwise by the Board (i) in the Award Agreement at the time the Award is granted or (ii) in such other document setting forth the Performance Goals at the time the Performance Goals are established, the Board will appropriately make adjustments in the method of calculating the attainment of Performance Goals for a Performance Period as follows: (1) to exclude restructuring and/or other nonrecurring charges; (2) to exclude exchange rate effects; (3) to exclude the effects of changes to generally accepted accounting principles; (4) to exclude the effects of any statutory adjustments to corporate tax rates; (5) to exclude the effects of any “extraordinary items” as determined under generally accepted accounting principles; (6) to exclude the dilutive effects of acquisitions or joint ventures; (7) to assume that any business divested by the Company achieved performance objectives at targeted levels during the balance of a Performance Period following such divestiture; (8) to exclude the effect of any change in the outstanding shares of common stock of the Company by reason of any stock dividend or split, stock repurchase, reorganization, recapitalization, merger, consolidation, spin-off, combination or exchange of shares or other similar corporate change, or any distributions to common stockholders other than regular cash dividends; (9) to exclude the effects of stock based compensation and the award of bonuses under the Company’s bonus plans; (10) to exclude costs incurred in connection with potential acquisitions or divestitures that are required to be expensed under generally accepted accounting principles; (11) to exclude the goodwill and intangible asset impairment charges that are required to be recorded under generally accepted accounting principles; (12) to exclude the effect of any other unusual, non-recurring gain or loss or other extraordinary item; and (13) to exclude the effects of the timing of acceptance for review and/or approval of submissions to the U.S. Food and Drug Administration or any other regulatory body. In addition, the Board retains the discretion to reduce or eliminate the compensation or economic benefit due upon attainment of Performance Goals and to define the manner of calculating the Performance Criteria it selects to use for such Performance Period. Partial achievement of the specified criteria may result in the payment or vesting corresponding to the degree of achievement as specified in the Stock Award Agreement or the written terms of a Performance Cash Award.

  • Goals means the annual level of participation by SBEs in City Contracts as established in this chapter, the SBE Regulations, or as necessary to comply with applicable federal and state nondiscrimination laws and regulations. Goals for individual Contracts may be adjusted as provided for in this chapter and shall not be construed as a minimum for any particular Contract or for any particular geographical area.

  • Performance Formula means, for a Performance Period, the one or more objective formulae applied against the relevant Performance Goal to determine, with regard to the Performance Compensation Award of a particular Participant, whether all, some portion but less than all, or none of the Performance Compensation Award has been earned for the Performance Period.

  • Performance Date means December 31, 2022. If the Locality, in consultation with the Authority and VEDP, deems that good faith and reasonable efforts have been made and are being made by the Company to achieve the Targets, the Locality may, prior to the then-current Performance Date, request an extension of the Performance Date by up to 15 months. Any extension of the Performance Date shall require the prior approval of the Board of Directors of VEDP (the “Board”). If the Performance Date is extended, the Locality shall send written notice of the extension to the Authority, the Company and VEDP and the date to which the Performance Date has been extended shall be the “Performance Date” for the purposes of this Agreement.

  • Performance Milestone means an act or event specified in section 5.1 and described in section 9 of the EPLA.

  • Performance Corridor means the acceptable range of results around a Performance Target;

  • Annual Bonus shall have the meaning set forth in Section 4(b) hereof.

  • Performance Level means a reference to one of Performance Level I, Performance Level II, Performance Level III, Performance Level IV or Performance Level V.