Maximization Sample Clauses
The Maximization clause is designed to ensure that a party receives the greatest possible benefit or amount permitted under the agreement or by law. In practice, this clause often applies to financial terms such as indemnification, damages, or interest, specifying that the party is entitled to the maximum amount allowed without violating legal limits. Its core function is to clarify that, wherever a cap or limit exists, the party will receive the highest permissible benefit, thereby preventing inadvertent forfeiture of entitlements due to restrictive interpretations.
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Maximization. Without negating the specific rights and obligations of each Party under this Agreement, each Party agrees to operate in a manner that has the intended effect of maximizing the customers and revenues from or through the ▇▇▇.▇▇▇ Site.
Maximization. Upon mutual agreement in writing between the Employer and the Union, the Employer may offer additional permanent hours to an existing Part-Time Employee provided the following circumstances are met:
1. The additional hours of work do not exceed 0.4 FTE;
2. The additional hours of work are offered to eligible Employees in order of seniority within the department.
3. The additional hours of work offered to an eligible Employee does not create a change of status from Part- Time to Full-Time. Where additional hours are added to an Employee’s position, a new letter of appointment shall be issued as per article 21.07.
Maximization. (a) Notwithstanding any other provision of this Agreement, except as set forth in Section 4.7(b), in the event that AWI or AWHI undergoes a "Change in Ownership or Control" (as defined below), AWI or AWHI shall not be obligated to provide to the Executive a portion of any "Contingent Compensation Payments" (as defined below) that the Executive would otherwise be entitled to receive to the extent necessary to eliminate any "excess parachute payments" (as defined in Section 280G(b)(1) of the Internal Revenue Code of 1986, as amended (the "Code")) for the Executive. For purposes of this Section 4.7, the Contingent Compensation Payments so eliminated shall be referred to as the "Eliminated Payments" and the aggregate amount (determined in accordance with Proposed Treasury Regulation Section 1.280G-1, Q/A-30 or any successor provision) of the Contingent Compensation Payments so eliminated shall be referred to as the "Eliminated Amount."
(b) Notwithstanding the provisions of Section 4.7(a), no such reduction in Contingent Compensation Payments shall be made if (i) the Eliminated Amount (computed without regard to this sentence) exceeds (ii) 100% of the amount of any additional taxes that would be incurred or borne by the Executive if the Eliminated Payments (determined without regard to this sentence) were paid to him (including, state and federal income taxes on the Eliminated Payments, the excise tax imposed by Section 4999 of the Code payable with respect to all of the Contingent Compensation Payments in excess of the Executive's "base amount" (as defined in Section 280G(b)(3) of the Code), and any employment taxes). The override of such reduction in Contingent Compensation Payments pursuant to this Section 4.7(b) shall be referred to as a "Section 4.7(b) Override." For purpose of this paragraph, if any taxes would be attributable to the receipt of any Eliminated Payment, the amount of such taxes shall be computed assuming the application of the maximum tax rates provided by law.
(c) For purposes of this Section 4.7 the following terms shall have the following respective meanings:
Maximization. The involuntary transfer of non-teaching professional staff members, based on seniority, certification, qualification, and by mutual agreement between the Board and Association after the Job Selection Meeting, to assure that the highest number of non-teaching professionals are employed. Maximization ends on the last teacher work day of the school year.
Maximization. On no account may the income of an ill employee exceed the income that he would have received had he not fallen ill. Employees who fall ill on or after January 1, 2004 will be subject to the WIA (Work and Income according to Capacity for Work Act). Those employees who fell ill prior to January 1, 2004 will continue to be subject to the WAO (Occupational Disability Insurance Act).
Maximization. It is the duty of all state authority, and ultimately of judges, to declare the pro homine principle. That is, the implementation of rights and freedoms requires a favourable interpretation of their purpose and scope. The pro homine principle is an interpretive criterion derived from article 29 of the American Convention on Human Rights. By virtue of this principle, the legal interpretation must always be that which is the most favourable to the human being by applying the wider and more appropriate piece of legislation among the set of rules offered by the different legal orders in force.74 The maximization of the notion of rights and freedoms results above all from activism by the social forces that advance humanity. However, it is up to legislators and judges to adopt the legislative or jurisprudential changes necessary to meet the demands of society. 72 American Convention, supra note 62, art 26. 73 International Covenant on Economic, Social and Cultural Rights, 16 December 1966, UNTS vol 993, p 3, art 2.1 (entry into force: 3 January 1976), accession by Canada 19 May 1976), online: <▇▇▇▇▇://▇▇▇▇▇▇▇▇.▇▇.▇▇▇/Pages/ViewDetails.aspx?src=TREATY&mtdsg_no=IV-3&chapter=4&clang=_en>.
Maximization. The amount to be paid pursuant to Article 20.2 shall not be greater than the net present value (as at the Expiry Date) paid by the Contracting Authority to the Contractor, pursuant to Article 9 (Supervening Events) during the term of this Agreement.