Cost Reduction Program Sample Clauses

Cost Reduction Program. The Parties agree to cooperate to ensure that the Supplier's manufacturing of the Products at any time is performed in the most cost efficient way hereunder on [***] basis to evaluate the possibility of conducting a cost reduction program. The parties agree that all cost reductions should be to the benefit of both Parties and as such reflected in the prices for the Products.
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Cost Reduction Program. The parties shall use their best efforts to identify and implement cost reductions for the manufacture of each Product according to Fallbrook’s cost reduction process as defined in Product Cost Review Process SOP09-03 30DEC2009, as may be amended from time to time by Fallbrook, which is hereby incorporated by reference. For the avoidance of doubt, nothing contained herein shall require Fallbrook to make any capital investment to achieve such cost reduction opportunities. Cost reductions that are implemented shall be wholly applied to reduce the Transfer Price until the Transfer Price of $90.00 is achieved. Subsequent cost reductions that are implemented shall be applied 50% to reduction of Transfer Price and 50% to increase of TSI profit. 7.6
Sample 1
Cost Reduction Program. (i) By entering into this Agreement and the arrangements contemplated herein, the parties agree to the below targeted annual cost reductions. Year targeted average cost reduction Targeted average product cost reduction 1 *** *** 2 *** *** 3 *** *** 4 *** *** 5 *** *** *** Represents text omitted pursuant to a request for confidential treatment. The omitted material has been filed separately with the Securities and Exchange Commission. Cost reduction is measured against the baseline PO Price set forth at the beginning of the contract and reset every year.
Sample 1
Cost Reduction Program. In anticipation of potential market pressure on price structures, it is the goal of SELLER to strive for a cost reduction in the Products covered by this Agreement. SELLER hereby agrees to develop a formal ongoing cost reduction program to be submitted to BUYER for review and approval within * months of the Effective Date. The goal of SELLER's cost reduction program will be to reduce the cost of the Product * each *.
Sample 1
Cost Reduction Program. Great Lakes shall fully implement by not later than March 31, 2003 a cost reduction program (the "Cost Reduction Program"). For fiscal year 2003, the Cost Reduction Program shall result in a an overall annual cost reduction of not less than $550,000. For fiscal year 2004 and beyond, the Cost Reduction Program shall result in an overall annual cost reduction of not less than $730,000. Evidence of the overall annual cost reduction under the Cost Reduction Program shall be set forth in reasonable detail as part of Great Lakes' annual officer's certificate to be delivered pursuant to Section 15(D)(3). Great Lakes also agrees to provide evidence reasonably satisfactory to RACC of the closing of Great Lakes' Chicago hub by not later than January 30, 2003.
Sample 1
Cost Reduction Program. The cost reduction program, which includes the sale of the Company’s headquarters facility in Bedminster, New Jersey, and which was specifically disclosed in writing to the Purchasers will be implemented by the Company in accordance with terms so disclosed, including with respect to the timing thereof.
Sample 1

Related to Cost Reduction Program

  • Payment Reduction While a Deferral Election is in effect, deferrals described in Section 3.1 shall be withheld, based upon the percentage elected, from each payment of Compensation to which the Participant would otherwise have been entitled but for his Deferral Election.

  • Budget The System Agency allocated share by State Fiscal Year is as follows:

  • Commitment Reductions Any reduction of the Revolving Loan Commitments required or permitted hereunder shall reduce the Revolving Loan Commitment of each Lender having a Revolving Loan Commitment on a pro rata basis based on the Commitment Ratio of such Lender for the Revolving Loan Commitment.

  • Cost Allocation Cost allocation of Generator Interconnection Related Upgrades shall be in accordance with Schedule 11 of Section II of the Tariff.

  • Fee Reduction The Adviser agrees that from the commencement of operations of the Fund through January 31, 2020, it will reduce its compensation and/or reimburse certain expenses for the Fund, to the extent necessary to ensure that the Fund’s total operating expenses, excluding taxes, “Acquired Fund” fees and expenses, dividend and interest expense on securities sold short, interest, extraordinary items, and brokerage commissions, do not exceed (on an annual basis) 1.15%, as a percentage of the Fund’s average daily net assets.

  • Strategic Plan (1) Within ninety (90) days, the Board shall adopt, implement, and thereafter ensure Bank adherence to a written strategic plan for the Bank covering at least a three-year period. The strategic plan shall establish objectives for the Bank's overall risk profile, earnings performance, growth, balance sheet mix, off-balance sheet activities, liability structure, capital adequacy, reduction in the volume of nonperforming assets, product line development and market segments that the Bank intends to promote or develop, together with strategies to achieve those objectives and, at a minimum, include:

  • Commitment Reduction The Borrowers shall have the right, upon at least two Business Days’ notice to the Administrative Agent, to terminate in whole or, upon same day notice, from time to time to permanently reduce ratably in part the unused portion of the Commitments; provided that each partial reduction shall be in the aggregate amount of $5,000,000 or in an integral multiple of $1,000,000 in excess thereof; provided, further, that the Commitments may not be reduced to an amount that is less than the aggregate Stated Amount of outstanding Letters of Credit. Subject to the foregoing, any reduction of the Commitments to an amount below $200,000,000 shall also result in a reduction of the L/C Commitment Amount to the extent of such deficit (with automatic reductions in the amount of each L/C Fronting Bank Commitment ratably in proportion to the amount of such reduction of the L/C Commitment Amount). Each such notice of termination or reduction shall be irrevocable; provided, further, that, if, after giving effect to any reduction of the Commitments, any Borrower Sublimit exceeds the amount of the aggregate Commitments, such sublimit shall be automatically reduced by the amount of such excess. Without limiting subsection (b) below, any Commitment reduced or terminated pursuant to this subsection (a) may not be reinstated.

  • Collection Allocation Mechanism On the CAM Exchange Date, (a) the Commitments shall automatically and without further act be terminated as provided in Article VII, (b) each Lender shall become obligated to fund, within one Business Day, all participations in outstanding Swingline Loans held by it (it being agreed that the CAM Exchange shall not result in a reallocation of such funding obligations, but only of the funded participations resulting therefrom) and (c) the Lenders shall automatically and without further act be deemed to have made reciprocal purchases of interests in the Designated Obligations such that, in lieu of the interests of each Lender in the particular Designated Obligations that it shall own as of such date and immediately prior to the CAM Exchange, such Lender shall own an interest equal to such Lender’s CAM Percentage in each Designated Obligation. Each Lender, each person acquiring a participation from any Lender as contemplated by Section 11.04 and each Borrower hereby consents and agrees to the CAM Exchange. Each Borrower and each Lender agrees from time to time to execute and deliver to the Administrative Agent all such promissory notes and other instruments and documents as the Administrative Agent shall reasonably request to evidence and confirm the respective interests and obligations of the Lenders after giving effect to the CAM Exchange, and each Lender agrees to surrender any promissory notes originally received by it hereunder to the Administrative Agent against delivery of any promissory notes so executed and delivered; provided that the failure of any Borrower to execute or deliver or of any Lender to accept any such promissory note, instrument or document shall not affect the validity or effectiveness of the CAM Exchange. As a result of the CAM Exchange, on and after the CAM Exchange Date, each payment received by the Administrative Agent pursuant to any Loan Document in respect of the Designated Obligations shall be distributed to the Lenders pro rata in accordance with their respective CAM Percentages (to be redetermined as of each such date of payment or distribution to the extent required by the next paragraph), but giving effect to assignments after the CAM Exchange Date, it being understood that nothing herein shall be construed to prohibit the assignment of a proportionate part of all an assigning Lender’s rights and obligations in respect of a single Class of Commitments or Loans. In the event that, after the CAM Exchange, the aggregate amount of the Designated Obligations shall change as a result of the making of an LC Disbursement of either Tranche by an Issuing Bank that is not reimbursed by the applicable Borrower, then (a) each Lender of such Tranche shall, in accordance with Section 2.05(d), promptly purchase from the applicable Issuing Bank a participation in such LC Disbursement in the amount of such Lender’s Tranche One Percentage or Tranche Two Percentage, as the case may be, of such LC Disbursement (without giving effect to the CAM Exchange), (b) the Administrative Agent shall redetermine the CAM Percentages after giving effect to such LC Disbursement and the purchase of participations therein by the applicable Lenders, and the Lenders shall automatically and without further act be deemed to have made reciprocal purchases of interests in the Designated Obligations such that each Lender shall own an interest equal to such Lender’s CAM Percentage in each of the Designated Obligations and (c) in the event distributions shall have been made in accordance with the preceding paragraph, the Lenders shall make such payments to one another as shall be necessary in order that the amounts received by them shall be equal to the amounts they would have received had each LC Disbursement been outstanding immediately prior to the CAM Exchange. Each such redetermination shall be binding on each of the Lenders and their successors and assigns and shall be conclusive absent manifest error.

  • Mandatory Commitment Reductions (a) Scheduled Reductions in Facility A Commitment. Commencing March 31, 2000 and at the end of each calendar quarter thereafter, the Facility A Commitment shall be automatically and permanently reduced by an amount equal to the percentage of the Facility A Commitment as in effect on the Agreement Date, as set forth below: Amount of Dates of Facility A Commitment Reductions Each Reduction ----------------------------------------- --------------- March 31, 2000, June 30, 2000, September 30, 2000 and December 31, 2000 2.500% March 31, 2001, June 30, 2001, September 30, 2001 and December 31, 2001 3.750% March 31, 2002, June 30, 2002, September 30, 2002 and December 31, 2002 5.000% March 31, 2003, June 30, 2003, September 30, 2003 and December 31, 2003 6.250% March 31, 2004, June 30, 2004, September 30, 2004 and December 31, 2004 7.500%

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