Performance Deductions definition

Performance Deductions. As defined in the VC and the Replacement Operating Contracts
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Performance Deductions means performance deductions calculated in accordance with Exhibit 4 (Performance Deductions).
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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.

  • West Kent December 2014 and January 2015 Performance Deductions).

  • 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.

  • 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).

  • It may not be appropriate for Performance Deductions to be levied during a Relief Event if the Contractor does not have business interruption insurance.

  • Performance Deductions shall be subject to a Monthly Cap which shall equal the Monthly Services Payment (excluding Performance Deductions).

  • Without prejudice to and in addition to the rights of the Scottish Ministers under any other provisions of this Contract, where the Operator has failed to meet any of the Performance Measures, the Scottish Ministers may make deductions (Performance Deductions) from Monthly Instalments in accordance with the provisions of Schedule 13, Part A, Paragraphs 5.12 - 5.16.

  • Similarly, parties may not consider it appropriate for Performance Deductions to be levied during a Relief Event in a surplus scheme.

  • Participants should note that in the event of an award of the Contract, a failure by the Operator to deliver the commitments contained in his submissions for Packages A and/ or B may result in proportionate Performance Deductions being made by the Scottish Ministers from payments due under the Contract, pursuant to Volume 3, Schedule 15 to the Contract.


More Definitions of Performance Deductions

Performance Deductions the deductions which fall to be made from the Unitary Payment in respect of Performance Failures in accordance with paragraph 8 of Schedule 6 (Payment and Performance Mechanism);
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Performance Deductions. As defined in the Operating Contracts
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Performance Deductions has the meaning given to it in Schedule 4 (Payment Mechanism); Performance Measurement Framework means the performance measurement framework set out in Part B of Schedule 2 (Authority’s Requirements);
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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 means the deductions provided for in Part 8 of Schedule 10 [Performance Deductions].
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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.

  • 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 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 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 Contract means the annual agreement negotiated and entered into by a community

  • 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;

  • 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 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 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 and (12) to exclude the effect of any other unusual, non-recurring gain or loss or other extraordinary item. 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.