Increase in Payments Clause Samples
Increase in Payments. Simultaneously with the commencement of each and every Renewal Term, if any, hereunder, each Agreement Payment set forth in this Agreement shall be automatically adjusted (without any action or notice by Venture) by an amount equal to the percentage increase in the CPI (as defined below) during the preceding twenty-four (24) months. The “CPI” is defined as the Consumer Price Index for all Urban Consumers, U.S. City Average, All Items (1982-1984 = 100) for the United States published by the Bureau of Labor Statistics of the U.S. Department of Labor, and if the CPI is discontinued, the successor index most nearly comparable thereto.
Increase in Payments. No Target Company is a party to any agreement or arrangement or practice imposing a legal obligation on it to increase the rates of remuneration or level of benefits of or to make any bonus or incentive payments or any benefits in kind or any payments under a profit sharing scheme (or similar arrangement) to or on behalf of any of its Employees or former or future employees whether now or at any future date which would increase the annual overall payroll costs of the Target Companies by more than 2% compared with the aggregate annual payroll costs of the Target Companies for the financial year which ended on 30 June 2005. No Target Company is in negotiations with trade unions, works councils or any staff associations about the rates of remuneration or level of benefits affecting 10 per cent. or more of its Employees or future employees, nor are there any such negotiations scheduled to take place or outstanding.
Increase in Payments. Paragraph 2 of the Agreement is modified as follows: During the extension of the Term as set forth above, Franklin agrees to pay to Centaurus the sum of US$18,000 per month, which represents an increase of US$3000 per month over the previous agreed upon sum of US$15,000 per month, for its acceptable performance of Management Work.