Initial Equity Protection Sample Clauses

Initial Equity Protection. In connection with the purchase of the Purchased Residence, Employee has made an Initial Equity Investment of $276,000, being equal to the difference between (i) the contract purchase price for the Purchased Residence (the "Purchase Price") minus (ii) the original principal amount of the mortgage loan for the Purchased Residence (the "Equity Investment"). - In the event that, within twelve (12) months following the earlier of (i) expiration of the Applicable Term and (ii) termination of Employee's employment by eLoyalty, other than for Serious Misconduct, Employee sells the Purchased Residence after making a reasonable, good faith effort to maximize the sales price therefor, and the contract sale price, less real estate broker's commission payable by Employee with respect to such sale, but including real property tax pro ration allocations (the "Sale Price"), is such that Employee will not receive amounts in connection with such sale equal to or in excess of the Initial Equity Investment, then eLoyalty shall pay to Employee, within ten (10) days following the closing of such sale and written notification of the Sale Price, an amount equal to the difference between the Initial Equity Investment and the amount so received by Employee (such payment hereinafter referred to as the "Equity Protection Payment"). - eLoyalty's obligation to make the Equity Protection Payment shall be subject to the following conditions: - Employee shall make all reasonable, good faith efforts to maximize the Sale Price. - Employee shall maintain the Purchased Residence at all times in good condition, ordinary wear and tear excepted. - Employee shall undertake no voluntary act with respect to the Purchased Residence, including, without limitation, any modification thereto, that has the effect of reducing the market value thereof. - Employee shall maintain adequate insurance on the Purchased Residence and, in the event of a loss that reduces the value of Purchased Residence at the time of its sale, the Sale Price shall be deemed increased by the amount of any applicable insurance recovery and the payment of the Equity Protection Payment will be delayed until such amount is reasonably determinable. - Employee shall provide eLoyalty with prior written notice (as promptly as is practicable and in no event later than one business day prior to the following described event) of (i) her intent to enter into a sale contract for the Purchased Residence that would result in an Equity Protectio...
AutoNDA by SimpleDocs

Related to Initial Equity Protection

  • Investment Promotion and Protection 1. Bearing in mind the respective powers and competences of the Community and the Member States, cooperation shall aim to establish a favourable climate for private investment, both domestic and foreign, especially through better conditions for investment protection, the transfer of capital and the exchange of information on investment opportunities.

  • Whistle Blowing Protection The Employer agrees to adhere to the whistle blowing protection pursuant to the Long-Term Care Homes Act (LTCHA).

  • Local Business Enterprise and Non-Discrimination in Contracting Ordinance Contractor shall comply with all applicable provisions of Chapter 14B (“LBE Ordinance”). Contractor is subject to the enforcement and penalty provisions in Chapter 14B. Contractor shall utilize LBE Subcontractors for at least [enter percentage] of the Services except as otherwise authorized in writing by the Director of CMD. Contractor shall incorporate the requirements of the LBE Ordinance in each subcontract made in the fulfillment of Contractor’s LBE subcontracting commitments.

  • OMNIBUS PROCUREMENT ACT OF 1992 It is the policy of New York State to maximize opportunities for the participation of New York State business enterprises, including minority and women-owned business enterprises as bidders, subcontractors and suppliers on its procurement contracts. Information on the availability of New York State subcontractors and suppliers is available from: NYS Department of Economic Development Division for Xxxxx Xxxxxxxx Xxxxxx, Xxx Xxxx 00000 Telephone: 000-000-0000 Fax: 000-000-0000 email: xxx@xxx.xx.xxx A directory of certified minority and women-owned business enterprises is available from: NYS Department of Economic Development Division of Minority and Women's Business Development 000 Xxxxx Xxxxxx Xxx Xxxx, XX 00000 212-803-2414 email: xxxxxxxxxxxxxxxxx@xxx.xx.xxx xxxxx://xx.xxxxxxxxxxxxxx.xxx/FrontEnd/VendorSearchPu blic.asp The Omnibus Procurement Act of 1992 requires that by signing this bid proposal or contract, as applicable, Contractors certify that whenever the total bid amount is greater than $1 million:

  • STUDENT DISCIPLINE AND TEACHER PROTECTION A. The Board recognizes its responsibility to give all support and assistance to teachers with respect to the maintenance of control and discipline in the classroom. Whenever it appears to the teacher and a representative of the Board that a particular pupil requires the attention of special counselors, social workers, law enforcement personnel, physicians or other professional persons the Board will take steps to relieve the teacher of responsibilities with respect to such pupil.

  • International Olympic Committee; International Red Cross and Red Crescent Movement As instructed from time to time by ICANN, the names (including their IDN variants, where applicable) relating to the International Olympic Committee, International Red Cross and Red Crescent Movement listed at xxxx://xxx.xxxxx.xxx/en/resources/registries/reserved shall be withheld from registration or allocated to Registry Operator at the second level within the TLD. Additional International Olympic Committee, International Red Cross and Red Crescent Movement names (including their IDN variants) may be added to the list upon ten (10) calendar days notice from ICANN to Registry Operator. Such names may not be activated in the DNS, and may not be released for registration to any person or entity other than Registry Operator. Upon conclusion of Registry Operator’s designation as operator of the registry for the TLD, all such names withheld from registration or allocated to Registry Operator shall be transferred as specified by ICANN. Registry Operator may self-­‐allocate and renew such names without use of an ICANN accredited registrar, which will not be considered Transactions for purposes of Section 6.1 of the Agreement.

  • Income Protection All workers will be covered by the extended Incolink Leisure Time Insurance and Income protection Scheme which provides defined weekly payments ($500 per week to workers with dependants, $400 per week to workers without dependants) for up to a maximum 104 weeks in the event of an extended work absence arising from any personal illness or injury (whether or not work related). The costs of this benefit will be shared between Incolink and the company on a 30/70 basis. Agreed premium costs will be: Incolink - $2.10 per week/worker Employer - $4.90 per week/worker It is a condition of the company’s agreement to provide this benefit that premium costs be maintained at not more than the February 1998 equivalent. In the event of premium costs escalating, the parties are agreed that the benefits table will be revised downwards so as to contain premium costs within the agreed limits. To maintain this cover the company agrees to pay the amounts every week for each employee. In the event the company does not maintain the above policy, the company will be liable in full to pay equivalent benefits to an employee who meets eligibility criteria as set out in the policy document.

  • Rights Protection Mechanisms and Abuse Mitigation ­‐ Registry Operator commits to implementing and performing the following protections for the TLD:

  • Income Protection Plan 7.2.1 (a) All employees w ho are unable to perform their duties due to an illness or injury, other than one for w hich Workplace Safety and Insurance benefits are payable, shall be entitled to income protection in accordance w ith the follow ing schedule: Length of Service Full Salary 2/3' s Salary (Weeks) (Weeks) 3 months but less than 6 months 1 1 6 months but less than 12 months1 16 1 year but less than 2 years 2 15 2 years but less than 3 years 3 14 3 years but less than 4 years 4 13 4 years but less than 5 years 5 12 5 years but less than 6 years 7 10 6 years but less than 7 years 9 8 7 years but less than 8 years 11 6 8 years but less than 9 years 13 4 9 years but less than 10 years 15 2

  • Interlocal Cooperation Act In satisfaction of the requirements of the Cooperation Act in connection with this Agreement, the Parties agree as follows:

Time is Money Join Law Insider Premium to draft better contracts faster.