Maintenance of Minimum Level of Continuous Occupancy Sample Clauses

Maintenance of Minimum Level of Continuous Occupancy. Subject to Section 24 below and to ensure job creation and maintenance, the Company shall maintain the Commercial Space in Continuous Occupancy throughout the term of this Agreement in order to be eligible for each City Payment beginning with the 3nd City Payment. Failure to maintain Continuous Occupancy shall result in a 50% reduction in the City Payment for the subject year. Notwithstanding the Continuous Occupancy requirement, the Company shall be permitted to exclude certain vacancy space from the Continuous Occupancy calculation for new tenant up fit requirements, but such excluded vacancy period may not exceed a 180 days. Example 1: Assume the total Commercial Space is 200,000 square feet (sf). If during the 3 years prior to the receipt by the City of an invoice for a City Payment that 100% of the Commercial Space was leased but only for 520 days during the subject 3 year period, the Continuous Occupancy requirement would not be met and the City Payment would be reduced 50% for that year. The calculation is as follows: (200,000(sf) × 520 (days)) ÷ (200,000(sf) × 1095 (days)) = 47.5% Example 2: Assume the total Commercial Space is 200,000 square feet (sf). Assume that during the 3 years prior to the receipt by the City of an invoice for a City Payment (a) 30% of the Commercial Space was leased for the entire 3-year period,
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Maintenance of Minimum Level of Continuous Occupancy. Subject to Section 24 (Force Majeure) below and to ensure job creation and maintenance, the Company shall maintain the Commercial Space in Continuous Occupancy throughout the term of this Agreement in order to be eligible for each City Payment beginning with the 3nd City Payment. Failure to maintain Continuous Occupancy shall result in a 100% reduction in the City Payment for the subject year (i.e., no City Payment for that year). Notwithstanding the Continuous Occupancy requirement, the Company shall be permitted to exclude certain vacancy space from the Continuous Occupancy calculation for new tenant up fit requirements, but such excluded vacancy period may not exceed 180 days. Example 1: Assume the total Commercial Space is 271,000 square feet (sf). If during the 3 years prior to the receipt by the City of an invoice for a City Payment that 100% of the Commercial Space was leased but only for XXX days during the subject 3 year period, the Continuous Occupancy requirement would not be met and the City Payment there would be no City Payment for that year. The calculation is as follows: (271,000(sf) × XXX (days)) ÷ (271,000(sf) × 1095 (days)) = XX% Example 2: Assume the total Commercial Space is 271,000 square feet (sf). Assume that during the 3 years prior to the receipt by the City of an invoice for a City Payment (a) 50% of the Commercial Space was leased for the entire 3-year period,
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Maintenance of Minimum Level of Continuous Occupancy. Subject to Section 23 (Force Majeure) below, and to ensure job creation and maintenance, beginning with the date the Company submits an invoice for the third (3rd) City Payment, the Company shall demonstrate that the Commercial Space has maintained the Continuous Occupancy rate during the relevant time period prior to the submission of such invoice in order to be eligible for the third (3rd) City Payment and subsequent City Payments as further described herein. Failure to maintain the applicable Continuous Occupancy for the relevant time period shall result in a 100% reduction in the City Payment for the subject year (i.e., no City Payment for that year). For the purposes of the Continuous Occupancy requirements pursuant to this Agreement, any space for which there is a Valid Lease shall be considered to be occupied space. The following table shows the applicable period for which Continuous Occupancy of 65% is required to be eligible for City Payments: CITY PAYMENT APPLICABLE CONTINUOUS OCCUPANCY PERIOD 1st and 2nd City Payments Not Applicable 3rd City Payment The period between the 2nd and 3rd anniversary of the First Date of Operations (i.e, a 1-year look back). 4th City Payment The period between the 2nd and 4th anniversary of the First Date of Operations (i.e., a 2-year look back). 5th through 15th City Payment The three years prior to the applicable anniversary of the First Date of Operations (i.e., a 3-year look back). Example 1: Assume the total Commercial Space is 284,000 square feet (sf). If, during the applicable Continuous Occupancy period for the 3rd City Payment 100% of the Commercial Space was subject to a Valid Lease, but only for 219 days during the subject 1 year period, the Continuous Occupancy requirement would not be met, and there would be no City Payment for that year. The calculation is as follows: (284,000(sf) × 219 (days)) ÷ (284,000(sf) × 365 (days)) = 60% Example 2: Assume the total Commercial Space is 284,000 square feet (sf). Assume that during the 3 years prior to the receipt by the City of an invoice for the 5th City Payment (a) 50% of the Commercial Space was subject to a Valid Lease for the entire 3-year period, and (b) 50% of the Commercial Space was subject to a Valid Lease for 745 days. The Continuous Occupancy requirement would be met and there would be no reduction in the City Payment. The calculation is as follows: ((142,000(sf) × 1095 (days)) + (142,200(sf) × 745(days)) ÷ (284,000(sf) × 1095(days)) = 84.1%
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Maintenance of Minimum Level of Continuous Occupancy. Following the First Date of Operations, and subject to Section 22 below, the Company shall maintain the Commercial Space associated with the Property in Continuous Occupancy throughout the term of this Agreement. Failure to maintain Continuous Occupancy shall be deemed a Default, subject to section 10 below. Notwithstanding the Continuous Occupancy requirement, the Company shall be permitted to exclude certain vacancy space from the Continuous Occupancy calculation for new tenant up fit requirements, but such excluded vacancy period may not exceed 180 days.
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Related to Maintenance of Minimum Level of Continuous Occupancy

  • Substantial Completion “Substantial Completion” means the stage in the progress of the Work when the Work, or designated portions thereof, may still require minor modifications or adjustments but, in the Owner’s opinion, the Work has progressed to the point such that all parts of the Work under consideration are fully operational and usable for intended purposes, as evidenced by a Certificate of Substantial Completion approved by the Owner. If a Certificate of Occupancy is required by public authorities having jurisdiction over the Work, said certificate shall be issued before the Work or any portion thereof is considered substantially complete. When the Contractor considers that the Work, or a portion thereof which the Owner agrees to accept separately, is substantially complete, the Contractor shall notify Owner’s Designated Representative (sometimes referred to as the “ODR”) and request a determination as to whether the Work or designated portion thereof is substantially complete. If the ODR does not consider the Work substantially complete, the ODR will notify the Contractor giving reasons therefore. Failure on the Owner’s part to list a reason does not alter the responsibility of the Contractor to complete all Work in accordance with the terms of this Agreement. After satisfactorily completing items identified by Owner’s Designated Representative, the Contractor shall then submit another request for the ODR to determine Substantial Completion. If The ODR considers the Work substantially complete, The ODR will prepare and deliver a certificate of Substantial Completion which shall establish the date of Substantial Completion, shall include a punch list of items to be completed or corrected before final completion and final payment, shall establish the time within which the Contractor shall finish the punch list, and shall establish responsibilities of the Owner and the Contractor for security, maintenance, heat, utilities, damage to the Work, warranty and insurance. Failure to include an item on the punch list does not alter the responsibility of the Contractor to complete all Work in accordance with the terms and conditions of this Agreement. The certificate of Substantial Completion shall be signed by the Owner and the Contractor to evidence acceptance of the responsibilities assigned to them in such certificate. Substantial Completion (as defined in this agreement) for all stages of the Work shall be achieved on or before the following Substantial Completion date: DATE FOR SUBSTANTIAL COMPLETION: TBD Under no circumstances will the time for Substantial Completion exceed this date without a written amendment to this Agreement. THE TIMES SET FORTH IN THE CONSTRUCTION DOCUMENTS ARE AN ESSENTIAL ELEMENT OF THE AGREEMENT. TIME LIMITS STATED IN THE CONTRACT DOCUMENTS ARE OF THE ESSENCE OF THIS AGREEMENT.

  • Status Substantial Compliance Analysis The Compliance Officer found that PPB is in substantial compliance with Paragraph 80. See Sections IV and VII Report, p. 17. COCL carefully outlines the steps PPB has taken—and we, too, have observed—to do so. Id. We agree with the Compliance Officer’s assessment. In 2018, the Training Division provided an extensive, separate analysis of data concerning ECIT training. See Evaluation Report: 2018 Enhanced Crisis Intervention Training, Training usefulness, on-the-job applications, and reinforcing training objectives, February 2019. The Training Division assessed survey data showing broad officer support for the 2018 ECIT training. The survey data also showed a dramatic increase in the proportion of officers who strongly agree that their supervisors are very supportive of the ECIT program, reaching 64.3% in 2018, compared to only 14.3% in 2015: The Training Division analyzed the survey results of the police vehicle operator training and supervisory in-service training, as well. These analyses were helpful in understanding attendees’ impressions of training and its application to their jobs, though the analyses did not reach as far as the ECIT’s analysis of post-training on- the-job assessment. In all three training analyses, Training Division applied a feedback model to shape future training. This feedback loop was the intended purpose of Paragraph 80. PPB’s utilization of feedback shows PPB’s internalization of the remedy. We reviewed surveys of Advanced Academy attendees, as well. Attendees were overwhelmingly positive in response to the content of most classes. Though most respondents agreed on the positive aspects of keeping the selected course in the curriculum, a handful of attendees chose options like “redundant” and “slightly disagree,” indicating that the survey tools could be used for critical assessment and not merely PPB self-validation. We directly observed PPB training and evaluations since our last report. PPB provided training materials to the Compliance Officer and DOJ in advance of training. Where either identified issues, PPB worked through those issues and honed its materials. As Paragraph 80 requires, PPB’s training included competency-based evaluations, namely: knowledge checks (i.e., quizzes on directives), in-class responsive quizzes (using clickers to respond to questions presented to the group); knowledge tests (examinations via links PPB sent to each student’s Bureau-issued iPhone); demonstrated skills and oral examination (officers had to show proficiency in first aid skills, weapons use, and defensive tactics); and scenario evaluations (officers had to explain their reasoning for choices after acting through scenarios). These were the same sort of competency-based evaluations we commended in our last report. In this monitoring period, PPB applied the same type of evaluations to supervisory-level training as well as in-service training for all sworn members. PPB successfully has used the surveys, testing, and the training audit.

  • Substantial Completion Date Substantial Completion of the Work as defined in Article 6.1.2 of the General Conditions to the Continuing Contract for Construction Management shall be achieved by July 31, 2022.

  • Excellent Above Average Satisfactory Needs Improvement Unsatisfactory 5 4 3 2 1 5. The instructor demonstrates knowledge of the subject matter.

  • CONTINUOUS IMPROVEMENT 3.1 The Supplier shall adopt a policy of continuous improvement in relation to the Services pursuant to which it will regularly review with the Authority the Services and the manner in which it is providing the Services with a view to reducing the Authority's costs (including the Framework Prices), the costs of Contracting Bodies and/or improving the quality and efficiency of the Services. The Supplier and the Authority will provide to each other any information which may be relevant to assisting the objectives of continuous improvement and in particular reducing costs.

  • Maximum Occupancy No more than two (2) guests per one (1) resident (who is present) are permitted in a student room/suite/apartment at any given time unless otherwise approved by the University (Residential Life).

  • Completion of Probationary Period An employee who has completed the probationary period may be suspended without pay or discharged only for just cause.

  • Completion of Evaluation Cycle 1. The summative evaluation rating shall be based upon a preponderance of the evidence, assessed in a holistic manner, that is aligned to the Ohio Educator Standards. Only evidence gathered during the walkthroughs and formal observations that are conducted for the current school year may be used.

  • Termination of Occupancy Upon termination of occupancy of a County Assisted Unit by a Tenant, such Unit will be deemed to be continuously occupied by a household of the same income level as the initial income level of the vacating Tenant, until such unit is reoccupied, at which time categorization of the Unit will be established based on the occupancy requirements of Section 2.1.

  • PARTIAL OCCUPANCY OR USE § 9.9.1 The Owner may occupy or use any completed or partially completed portion of the Work at any stage when such portion is designated by separate agreement with the Design-Builder, provided such occupancy or use is consented to, by endorsement or otherwise, by the insurer providing property insurance and authorized by public authorities having jurisdiction over the Project. Such partial occupancy or use may commence whether or not the portion is substantially complete, provided the Owner and Design-Builder have accepted in writing the responsibilities assigned to each of them for payments, retainage, if any, security, maintenance, heat, utilities, damage to the Work and insurance, and have agreed in writing concerning the period for correction of the Work and commencement of warranties required by the Design-Build Documents. When the Design-Builder considers a portion substantially complete, the Design-Builder shall prepare and submit a list to the Owner as provided under Section 9.8.2. Consent of the Design-Builder to partial occupancy or use shall not be unreasonably withheld. The stage of the progress of the Work shall be determined by written agreement between the Owner and Design-Builder.

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