APPORTIONMENT FORMULA Clause Samples

APPORTIONMENT FORMULA. For purposes of the foregoing apportionments and adjustments, the following procedures shall govern with respect to each Property: (a) Any apportionment of income and expense items shall be apportioned to the Seller based upon the formula (the "Apportionment Formula") wherein the numerator is the number of days in such month that the Property was owned by the Seller and the denominator is the total number of days in that month for items that are payable on a monthly basis and, for items that are not paid on a monthly basis, such items shall be adjusted on the basis of the number of days applicable to such period, with Seller receiving a credit for all amounts prepaid by Seller for any period from and after the Closing Date and Seller charged with any unpaid charges for the period prior to the Closing Date. To the extent there are items of prepaid income, Buyer shall receive a credit attributable to the period from and after the Closing Date. In addition, if there were "front-end fees" paid to Seller under a Service Contract, the amount of such fee shall be amortized over the term of such Service Contract and the portion applicable to the period from and after the Closing Date shall be a credit to Buyer. (b) If the Closing Date shall occur before the real estate tax rate is fixed, the apportionment of such taxes shall be made using the real estate taxes for the immediately preceding year, with a reapportionment in the event the new tax rate and valuation can be ascertained during the Adjustment Period (as hereinafter defined). (c) If there are water meters on the Property, Seller shall furnish meter readings to a date not more than thirty days prior to the Adjustment Date; and the unfixed meter charges for the intervening time to the Adjustment Date shall be apportioned based upon estimates using such prior meter readings, unless final readings therefor as of the Closing shall have been obtained, in which case such final readings shall be used for the apportionment. As soon as the expenses for the period shall be known, Seller and Buyer shall recalculate the adjustment with the result that Seller shall pay for those expenses attributable to the period prior to the Closing Date and Buyer shall pay for those expenses attributable to the period commencing with the Closing Date. (d) The apportionment of utility charges shall be made upon the basis of charges shown on the latest available bills for such utilities, unless final meter readings therefor as of the C...
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APPORTIONMENT FORMULA. Section A. The Municipalities desire that the costs for police services be apportioned on an equal basis. Accordingly, the budget for the Regional Department, after subtracting out any funds received or anticipated from Contracting Municipalities or other revenue sources, shall be funded 50% by North Lebanon Township and 50% by North Cornwall Township. The cost distribution may be reviewed, renegotiated if desired by both Municipalities, or at the time any additional Charter Municipalities join the Regional Department. The cost and any other conditions for joinder of any other municipality shall be set by a vote of the Commission at the time of joinder.
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APPORTIONMENT FORMULA. The apportionment of the annual property tax revenue collected, beginning in FY2020-21 shall be calculated using the following formula. It is based on the first-year (Tax year 2020 and City fiscal year 2020- 21) voter-approved M&O ad valorem rate of $0.4209 per $100 of taxable valuation, with $0.0875 dedicated to Project Connect. All future property tax revenue shall be apportioned using this formula until use of the formula is superseded by subsequent amendment to this agreement (see 4C for amendment process) or the dissolution of ATP (consistent with the Contract with the Voters). City Share of Maintenance and Operations Property Tax Revenue = 0.3334/0.4209 = 79.211% Austin Transit Partnership Share of Maintenance and Operations Property Tax Revenue = 0.0875/0.4209 = 20.789% The City currently has three approved Tax Increment Reinvestment Zones (TIRZ), the ▇▇▇▇▇▇▇, ▇▇▇▇▇▇ Creek, and ▇▇▇▇▇▇▇ TIRZs, to which 100% of the incremental property tax revenue collected within the TIRZ boundaries is currently allocated, and one Homestead Preservation Zone (HPZ), to which 20% of the incremental property tax revenue collected within the HPZ boundaries is currently allocated. Tax revenue required for each TIRZ and HPZ shall first be deducted from the total tax property tax revenue received by the City, prior to the proportional (based on share of the tax rate) disbursement of the revenue to the General Fund (M&O), Project Connect Fund (M&O) and debt service. Prior to the amendment of an existing TIRZ, or approval of any future TIRZ or HPZ, the City shall require the consent of ATP as to whether the ATP share of Prop A property tax revenue can be included in the capture rate of the TIRZ or HPZ. In addition, the City has four economic incentive agreements (Chapter “380”) in which the City has agreed to rebate all or some of the property tax paid back to the partner corporation. The corporation, terms of the agreement, and expiry dates of the agreements are included in the following table: Corporation Reimbursement Calculation Expiry Samsung In years 1-10, 100% of tax on new equipment and machinery purchased and real property improvements made after 1/1/2006 for the 300 mm Fab; in years 11-20, 75% of taxes on same. 12/31/2027 Domain 25% of City's incremental property tax, based on 5/1/2003 property valuation of $235,228 per acre. Baseline value is $12,504,720. 12/31/2028 Apple 100% of the City's incremental property tax on improvements and on business personal property....
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APPORTIONMENT FORMULA. SECTION A. All costs for the Department shall be apportioned on an equitable basis in accordance with determinations arrived at by the PMRPC. Apportionment formulas shall be reviewed annually by the Participants. SECTION ▇. ▇▇▇▇▇▇▇ acknowledges that the PMRPC is funded primarily through annual assessed contributions from its Participants, and supplemental funding as may be available from time to time from local, state, federal and other sources.
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APPORTIONMENT FORMULA. Section A. All costs of the Department for fire services, including, without limitation, employee payroll and benefits and vehicle and headquarter operating expenses, shall be apportioned to each Participating Municipality. From the date of commencement of this Agreement through December 31, 201 , Spring Garden shall fund and pay for 45% and Springettsbury 55% of all costs of the Department for fire services. Thereafter the annual proportionate share of Spring Garden and Springettsbury shall be based on the average of the prior 5 fiscal years call history and allocation. The proportionate share of Spring Garden and Springettsbury shall either increase or decrease on an annual basis based on the average call history and allocation as set forth above with no more than five additional percentage points being added to or subtracted from either party in any given year. In the event an additional Municipality is added to this agreement, the apportionment reallocation set forth herein shall be applicable to the costs attributed to Spring Garden and Springettsbury. Upon the joining of additional municipalities, the Charter Municipalities shall be required to agree upon the apportionment formula applicable to said joinder party. Contracting Municipalities, if any, shall not be apportioned to a funding assessment, but shall pay a fee per negotiated contract. Section B. Any new Charter Municipality joining the Commission shall be required to pay to the Commission amounts determined by the Commission and approved by a majority of the governing boards of the Charter Municipalities. A new Charter Municipality must pay said amount before its membership becomes effective. Said amount shall be distributed among the
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APPORTIONMENT FORMULA. Section A. All costs of the Department for police services, including, without limitation, employee payroll and benefits and vehicle and headquarter operating expenses, shall be apportioned to each Participating Municipality using a Police Protection Unit (“Unit”) basis. Each Charter Municipality will commit to purchase Units of service annually. Exhibit A attached to this Agreement reflects the total number of Units by Charter Municipality to be purchased in 2024. Since one or more Charter Municipalities may be a party to an agreement to provide police services to a third party and this obligation shall be assumed by the Commission, each Charter Municipality will identify the Units being purchased to fulfill a third-party agreement for police services and provide to the Commission a copy of the third-party agreement. The number of Units of service will determine the Charter Municipality’s funding assessment. One Unit is the equivalent of ten hours of police service per week for fifty-two weeks per year. The definition and value of Units shall be subject to review and redefinition annually by the Commission. Contracting Municipalities, if any, shall not be apportioned to a funding assessment based upon Units and expenses, but shall pay a fee per negotiated contract. Section B. New Charter Municipalities will be assessed on the basis of the number of Units any new Charter Municipality joining the Commission shall be required to pay to the Commission amounts determined by the Commission and approved by a majority of the governing boards of the Charter Municipalities. A new Charter Municipality must pay said amount before its membership becomes effective. Said amount shall be distributed among the then-current Charter Municipalities, based upon the Units subscribed by the then-current Charter Municipalities. Section C. A Charter Municipality may not reduce its Units purchased for any given calendar year if such reduction would cause the staffing for the Municipality to fall below the International Association of Chiefs of Police staffing standards. Moreover, even if the above standards are met, no Charter Municipality may reduce its Units by more than five percent (5%) below the number of Units it purchased for the immediately preceding calendar year, or as prorated for that year, if applicable. The Units purchased to provide police services pursuant to a third- party agreement shall be excluded from the calculation of the five percent (5%) limit on reducing ...
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APPORTIONMENT FORMULA. Annual assessed contributions for participants shall be determined by the Commission based on the total net cost for providing police services pursuant to the apportionment formula set forth in this Section B.
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APPORTIONMENT FORMULA. Section A. All costs of the Department for police Section B. The Charter municipalities agree that Section C. New Charter municipalities will be assessed based on their population or by the current assessment method. Any new Charter Municipality joining the regional may be required to pay a fee to the Commission.
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Related to APPORTIONMENT FORMULA

  • Payment for TIPS Sales TIPS Members may make payments for TIPS Sales directly to Vendor, Vendor’s Authorized Reseller, or as otherwise agreed to in the applicable Supplemental Agreement after receipt of the invoice and in compliance with applicable payment statutes. Regardless of how payment is issued or received for a TIPS Sale, Vendor is responsible for all reporting and TIPS Administration Fee payment requirements as stated herein.

  • Adjustment for Tax Purposes The Company shall be entitled to make such reductions in the Conversion Price, in addition to those required by Section 10.06, as it in its discretion shall determine to be advisable in order that any stock dividends, subdivision of shares, distribution of rights to purchase stock or securities, or a distribution or securities convertible into or exchangeable for stock hereafter made by the Company to its stockholders shall not be taxable.

  • Payment for Unused Sick Leave (a) An employee with less than ten (10) years of FIU service who separates from FIU shall not be paid for any unused sick leave. (b) An employee who has completed ten (10) or more years of FIU service, has not been found guilty or has not admitted to being guilty of committing, aiding, or abetting any embezzlement, theft, or bribery in connection with State government, or has not been found guilty by a court of competent jurisdiction of having violated any State law against or prohibiting strikes by public employees, and separates from FIU because of retirement for other than disability reasons, termination, or death, shall be compensated at the employee's current regular hourly rate of pay for one-eighth of all unused sick leave accrued prior to October 1, 1973, plus one- fourth of all unused sick leave accrued on or after October 1, 1973; provided that one-fourth of the unused sick leave since 1973 does not exceed 480 hours. The compensation in this paragraph 8(4)(b) shall not be given to an employee who starts employment at FIU on or after July 1, 2006. (c) Upon layoff, an employee with ten (10) or more years of FIU service shall be paid for unused sick leave as described in paragraph b., above, unless the employee requests in writing that unused sick leave be retained pending re-employment. For an employee who is re-employed by the University within twelve (12) calendar months following layoff, all unused sick leave shall be restored to the employee, provided the employee requests such action in writing and repays the full amount of any lump sum leave payments received at the time of layoff. An employee who is not re- employed within twelve (12) calendar months following layoff shall be paid for sick leave in accordance with this Policy. (d) All payments for unused sick leave shall be made in lump sum and shall not be used in determining the average final compensation of an employee in any State administered retirement system. An employee shall not be carried on the payroll beyond the last official day of employment, except that an employee who is unable to perform duties because of a disability may be continued on the payroll until all sick leave is exhausted. (e) If an employee has received a lump sum payment for accrued sick leave, the employee may elect in writing, upon re-employment within 100 days, to restore the employee's accrued sick leave. Restoration will be effective upon the repayment of the full lump sum leave payment. (f) In the event of the death of an employee, payment for unused sick leave at the time of death shall be made to the employee's beneficiary, estate, or as provided by law.

  • Average Log Length and Payment Reduction If the average log length for all logs delivered under this contract is less than the average log length specified in the table in clause G-024.2, The amount of allowable payment reduction shall be calculated by multiplying the payment rate in P-028.2 by the total volume delivered, and the difference between the average length of logs delivered and the average log length specified in G-024.2, times 1% as follows: Log Length Payment Reduction = (B x V x L) x (.01) Where: B = Bid rate from P-028.2 clause V = total delivered log Volume L = Length in feet below specified average (rounded to nearest Average log length payment reductions calculated by the Purchaser must be approved by the State, prior to payment for the final billing period. Third-party scaling organization information is required to determine ▇▇▇▇▇▇▇▇ mbf and Average log length for payment reduction purposes. Average log length is determined on a piece count basis. Value of log length price reduction will be derived from the applicable sort value as described in this contract. Scale information for determining Average log length for payment reduction eligibility must be obtained from roll-out scale. Truck-ramp, sample scaling, and/or bundle scaling information is not acceptable for determining eligibility. Purchaser’s exclusive remedy for below average log lengths shall be the payment reduction described in this clause, notwithstanding other provisions in the Uniform Commercial Code.

  • Allocation of Profit or Loss All Profit or Loss shall be allocated to the Member.