Reduction Option definition

Reduction Option means a reduction option purchased by You to reduce potential liability as described in clause 22.

Reduction Option means the option offered to each holder of an Allowed Trade Vendor Claim in an amount equal to or less than $10,000 to receive $250 in full satisfaction, settlement, release, and discharge of and in exchange for such Claim.

Reduction Option has the meaning set out in Article 2.8.1.

Examples of Reduction Option in a sentence

• Yes X No (Check applicable blank) Transporter and Shipper have mutually agreed to a Regulatory Restructuring Reduction Option pursuant to Section 42 of the General Terms and Conditions of Transporter's FERC Gas Tariff.

• If You return the Vehicle late without permission, You will be charged for the late return at a rate equivalent to double the daily standard gross rental charge, including Reduction Option charge.

• The Vehicle Security Deposit amount is determined by the Liability Reduction Option selected.

• Transporter and Shipper have mutually agreed to the following maximum or minimum pressure commitments: Yes X No (Check applicable blank) Transporter and Shipper have mutually agreed to a Regulatory Restructuring Reduction Option pursuant to Section 33 of the General Terms and Conditions of Transporter's FERC Gas Tariff.

• The 4WD Additional Cover is only available with 4WD Camper hires and when the High Road Reduction Option has been purchased.

• Customers requiring Vehicle towing and Vehicle recovery from a road listed within this section will be responsible for up to AU$8,000 for towing and Vehicle recovery in the event of not having this cover irrespective of the Liability Reduction Option being selected.

• The 4WD Max Cover is only available with 4WD Vehicle hires and when the Liability Reduction Option has been purchased by the Customer.

• Yes _X_ No (Check applicable blank) Transporter and Shipper have mutually agreed to a Regulatory Restructuring Reduction Option pursuant to Section 42 of the General Terms and Conditions of Transporter's FERC Gas Tariff.

• Yes _X No (Check applicable blank) Transporter and Shipper have mutually agreed to a Regulatory Restructuring Reduction Option pursuant to Section 42 of the General Terms and Conditions of Transporter's FERC Gas Tariff.

• Yes No (Check applicable blank) Transporter and Shipper have mutually agreed to a Regulatory Restructuring Reduction Option pursuant to Section 42 of the General Terms and Conditions of Transporter's FERC Gas Tariff.

More Definitions of Reduction Option

Reduction Option shall have the meaning as set forth in Section 29.1.

Reduction Option has the meaning set forth in Section 2.1(n).

Reduction Option means, for a given Joint Development Program, a Product Reduction Option or a Program Reduction Option, as the case may be.

Reduction Option or “Reduction Premises”). If Tenant is not giving back all of the Fifth Floor 5A Premises, excluding the existing server room as described below, the Reduction Premises will be in a location that is reasonably acceptable to both Tenant and Landlord and such location that Landlord can separately demise from the premises at its sole cost. The effective date thereof (the “Second Reduction Date”) shall be a date selected by Tenant that is on or after November 30, 2015. Tenant may exercise its Reduction Option by delivering to Landlord written notice of Tenant’s intention to exercise such option at least twelve (12) months prior to Tenant’s proposed Second Reduction Date. Tenant’s exercise notice shall set forth the Second Reduction Date, and Tenant shall include therewith an amount (the “Second Reduction Fee”) equal to the unamortized amount as of the Second Reduction Date of the sum of (i) brokerage commissions paid or incurred by Landlord in connection with this Amendment attributable to the Reduction Premises (amortization period calculated from December 1, 2015 – April 30, 2021), (ii) the Refurbishment Allowance paid or incurred by Landlord prorated to the Reduction Premises (amortization period calculated from December 1, 2015 – April 30, 2021), and (iii) all abated Rent applicable to the Reduction Premises for the Rent Abatement Months that would have been payable had Minimum Rent been charged during such months at the rates in effect for the remainder of each applicable term; all of which costs shall be amortized at 0.0% interest over the remainder of the Initial Term from the date of each abated month. By example; if Tenant, exercises Tenant’s Space Reduction Option and gives up 7,982 RSF effective December 31, 2017, and has used the full Refurbishment Allowance, Tenant will pay a Second Reduction Fee equal to $100,491.10. Effective on the Second Reduction Date, the Premises area shall be decreased to constitute the Fourth Floor Premises (20,708 RSF), and Tenant shall surrender and return to Landlord all or a portion of the Fifth Floor 5A Premises (8,898 RSF) in its then-current “as-is” condition, broom clean, and with all of Tenant’s furniture, trade fixtures, and equipment removed therefrom. On and after the Second Reduction Date, appropriate changes shall be made to the Revised Minimum Monthly Rent and Tenant’s Pro Rata Share to reflect the new Premises Area (RSF) and Minimum Monthly Rent. Tenant’s Reduction Option shall automatically become null an...