FAR Bonus Sample Clauses

FAR Bonus. If any developer of the USPS Property would have triggered an FAR bonus under the Inclusionary Housing Laws, the parties agree to provide an equivalent “bonus” amount of FAR to the developer as follows (recognizing that the USPS Master Plan caps development density so additional FAR provided to a private developer in this case, must be deducted from elsewhere on the USPS Property): The amount of such “bonus” will be deducted first from the 260,077 sq. ft. of PHB FAR that remains (of the total 650,277 sq. ft. of PHB FAR) after deducting 390,200 sq. ft. of PHB FAR associated with Block 4A and Block 4B. The parties will have the authority and will be required to amend the IGA by updating the FAR Spreadsheet when any private developer would have earned an FAR bonus in the Broadway Corridor Site under the Inclusionary Housing Laws, by deducting the amount of such FAR bonus from the 260,077 sq. ft. of PHB FAR remaining to be provided to PHB. Once the 260,077 sq. ft. of PHB FAR is reaches zero, ▇▇▇▇▇▇▇ Portland will be solely responsible at Prosper Portland’s sole expense for providing the additional FAR required to fulfill a developer’s FAR bonus that such developer would have earned under the Inclusionary Housing Laws.‌
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Related to FAR Bonus

  • Salary No salary will be paid to a Member for the performance of his or her duties under this Agreement unless the salary has been approved in writing by a Majority of the Members.

  • Vacation During the Employment Period, the Executive shall be entitled to paid vacation in accordance with the most favorable plans, policies, programs and practices of the Company and its affiliated companies as in effect for the Executive at any time during the 120-day period immediately preceding the Effective Date or, if more favorable to the Executive, as in effect generally at any time thereafter with respect to other peer executives of the Company and its affiliated companies.

  • Equal Employment Opportunity Contractor represents and warrants its compliance with all applicable duly enacted state and federal laws governing equal employment opportunities.

  • Wages A transferring employee will be paid in accordance with the collective agreement of the designated employer.

  • Compensation The Depositor shall receive at the times set forth in Sections 3.05, 3.18, 3.23 and 4.03 as compensation for performing portfolio supervisory services, bookkeeping and administrative expenses and evaluation services, such amount and for such periods as specified the Prospectus and/or Reference Trust Agreement. The compensation for providing portfolio supervisory services, bookkeeping and administrative expenses and evaluation services shall be made on the basis of the largest number of units outstanding at any time during the period for which such compensation is being computed. At no time, however, will the total amount received by the Depositor for services rendered to all series of Guggenheim Defined Portfolios in any calendar year exceed the aggregate cost to them of supplying such services in such year. Such rate may be increased by the Trustee from time to time, without the consent or approval of any Unitholder, or the Depositor, by amounts not exceeding the proportionate increase during the period from the date of such Prospectus and/or Reference Trust Agreement to the date of any such increase, in consumer prices as published either under the classification "All Services Less Rent" in the Consumer Price Index published by the United States Department of Labor or, IF such Index is no longer published, a similar index. In the event that any amount of the compensation paid to the Depositor pursuant to Sections 3.05, 3.18 and 3.23 and 4.03 is found to be an improper charge against a Trust, the Depositor shall reimburse the Trust in such amount. An improper charge shall be established if a final judgment or order for reimbursement of the Trust shall be rendered against the Depositor and such judgment or order shall not be effectively stayed or a final settlement is established in which the Depositor agrees to reimburse the Trust for amounts paid to the Depositor pursuant to this Section 7.05. (15) The first two sentences of Section 3.22 are hereby amended and replaced with the following: