Alternative Adjustment Clause Samples
The Alternative Adjustment clause establishes a mechanism for modifying contractual terms or obligations in response to specific events or changes in circumstances. Typically, this clause outlines the conditions under which adjustments can be made, such as fluctuations in market rates, regulatory changes, or unforeseen disruptions, and specifies the process for determining and implementing the new terms. Its core practical function is to provide flexibility and ensure fairness by allowing the contract to adapt to changing conditions, thereby reducing the risk of disputes or inequitable outcomes.
Alternative Adjustment. In lieu of applying the old compensation fraction or new compensation fraction described in section 5.9(l), if the Employer elects, a Participant's adjusted Accrued Benefit will be determined by substituting the Participant's Compensation (as defined in section of the Plan) for the current Plan Year determined under the same Compensation formula and underlying definition of Compensation used to determine the Frozen Accrued Benefit of each Participant in the Fresh-Start group. If elected by the Employer in the Adoption Agreement, the Frozen Accrued Benefit of each section 401(a)(17) Participant in the Fresh-Start group will be adjusted in accordance with the following method: Section 401(A)(17) Participants Who Are OBRA '93 Section 401(A)(17) Participants Only:
(1) Determine the Frozen Accrued Benefit of each OBRA '93 section 401(a)(17) Participant as of the last day of the Plan Year beginning before January 1, 1994.
(2) Adjust the amount in step 1 by multiplying it by the following fraction (not less than 1). The numerator of the fraction is the average compensation of the OBRA '93 section 401(a)(17) employee determined for the current year (as limited by section 401(a)(17)), using the same definition and Compensation formula in effect as of the last day of the last Plan Year beginning before January 1, 1994. The denominator of the fraction is the Participant's Average Compensation for the last day of the last Plan Year beginning before January 1, 1994. Using the definition and Compensation formula in effect as of the last day of the last Plan Year beginning before January 1, 1994. Section 401(A)(17) Participants Who Are Both TRA '86 Section 401(A)(17) Participants and OBRA '93 Section 401(A)(17) Participants:
(1) Determine each TRA '86 section 401(a)(17) Participant's Frozen Accrued Benefit as of the last day of the last Plan Year beginning before January 1, 1989.
(2) Adjust the amount in step 1 up through the last day of the last Plan Year beginning before the first Plan Year beginning on or after January 1, 1994, by multiplying it by the following fraction (not less than 1). The numerator of the fraction is the TRA '86 section 401(a)
Alternative Adjustment. If the Board of RTL and the Board of RTP agree that an adjustment in accordance with paragraph 5.1.1 or 5.1.2 would be inequitable as between the holders of RTL Ordinary Shares and the holders of RTP Ordinary Shares, then they may calculate the adjustment on some other basis which they agree to be appropriate. In these circumstances the calculation shall be referred to the auditors of RTL and the auditors of RTP for them jointly to certify that the adjustment so calculated means that the relevant offer does not materially disadvantage a holder of a RTL Ordinary Share in comparison with a holder of an RTP Ordinary Share and vice versa. In making such certification the auditors of RTL and the auditors of RTP shall act as experts and not as arbitrators and their certificate shall be final and binding on the parties and on all others affected thereby.
Alternative Adjustment. If the Consumer Price Index is suspended or discontinued, or if there is a major change in those items by reference to which that index is calculated, then the basis for adjustment of our fee will change to that sum determined by an independent actuary, or econometrician (acting as an expert) who is instructed by the Advisory Board, so as to be increased at a rate equal to the rate of economic inflation in Perth. The costs of any determination are paid by us but are recoverable as an expense under Clause 8.1.
Alternative Adjustment. Notwithstanding the foregoing, if at the time that the Final Closing Date Balance Sheet is finalized pursuant to Section 2.10, the Notes have been repaid in an amount or amounts such that an Adjustment Escrow Amount has been established pursuant to Section 2.9(e)(ii), then an amount equal to the decrease reflected by the Adjustment Amount shall first be paid to Parent from the Adjustment Escrow Amount and to the extent there is a shortfall in sufficient funds therein, then from the Escrow Amount (except for the portion allocable to Non-Accredited Stockholders) pursuant to the Escrow Agreement.