Individual ACE Allocation Sample Clauses

The Individual ACE Allocation clause defines how specific Allowable Cost Exceedances (ACEs) are assigned to individual parties or projects within an agreement. In practice, this clause outlines the method for determining which party is responsible for costs that exceed agreed-upon thresholds, often by specifying allocation formulas or identifying particular cost categories. Its core function is to ensure that any excess costs are distributed fairly and transparently, thereby reducing disputes and clarifying financial responsibilities among the involved parties.
Individual ACE Allocation. Each participating Permit and Participating Vessel will receive its 17 “Individual ACE” allocation as set forth in Exhibit B to the Agreement. This allocation will be 18 maintained by each individual Member and the Sector Manager.
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Related to Individual ACE Allocation

  • Gross Income Allocation If any Partner has a deficit Capital Account at the end of any Fiscal Year which is in excess of the sum of (i) the amount such Partner is obligated to restore, if any, pursuant to any provision of this Agreement, and (ii) the amount such Partner is deemed to be obligated to restore pursuant to the penultimate sentences of Treasury Regulations Section 1.704-2(g)(1) and 1.704-2(i)(5), each such Partner shall be specially allocated items of Partnership income and gain in the amount of such excess as quickly as possible; provided that an allocation pursuant to this Section 5.05(c) shall be made only if and to the extent that a Partner would have a deficit Capital Account in excess of such sum after all other allocations provided for in this Article V have been tentatively made as if Section 5.05(b) and this Section 5.05(c) were not in this Agreement.