Performance Adjustments. On each July 1, staff members whose salaries are at the Job Rate or between the Job Rate and the Ceiling shall, based on satisfactory performance, be entitled to an annual performance adjustment of 2%, but in no case will this result in a salary higher than the Ceiling.
Performance Adjustments. Based upon, and following receipt by the Banks of (a) beginning with the Borrower's financial statements as hereafter described for the fiscal quarter of the Borrower ending on or about February 28, 1998, (i) with respect to the first three fiscal quarters of each fiscal year, the Borrower's quarterly unaudited consolidated financial statements pursuant to ss.11.4(b) and (ii) with respect to the last fiscal quarter of each fiscal year, the Borrower's annual audited consolidated financial statements pursuant to ss.11.4(a), and (b) a certificate of the chief financial officer of the Borrower setting forth calculations of the financial information set forth below, the Base Rate Applicable Margin and the Eurodollar Applicable Margin shall be subject to possible adjustment in accordance with the provisions of this paragraph (each such adjustment, a "Performance Adjustment"). Performance Adjustments shall be effective (the date of the effectiveness of any Performance Adjustment, a "Performance Adjustment Date") with respect to adjustments to the Base Rate Applicable Margin and the Eurodollar Applicable Margin, three (3) Business Days following receipt by the Agents of the relevant quarterly unaudited or annual audited financial statements and the certificate of the chief financial officer of the Borrower, each as described above. The Eurodollar Applicable Margin and the Base Rate Applicable Margin with respect to any period following any Performance Adjustment Date until the next succeeding Performance Adjustment Date shall be as set forth in the table below on the line furthest down in such table with respect to which, for the period of four consecutive fiscal quarters most recently ended prior to such possible Performance Adjustment Date, both (A) the Borrower's ratio of (1) Consolidated Total Funded Debt for such period to (2) Consolidated EBITDA for such period shall be within the range set forth on such line in such table, and (B) the Borrower's ratio of (1) Consolidated EBITDA for such period to (2) Consolidated Total Interest Expense for such period shall be within the range set forth on such line in such table: ----------------------------------------------------------------------------------------------------------------------------- Base Rate Ratio of Eurodollar Applicable Ratio of EBITDA Applicable Margin Eurodollar Margin for Base Rate Total Funded to Total for Revolving Applicable Revolving Credit Applicable Debt to Interest Credit Loans and Margin ...
Performance Adjustments. The number of Award Units granted hereunder is subject to adjustment based on the Company’s level of achievement versus annual Net Sales growth goals and annual NOP growth goals for the 2019, 2020 and 2021 fiscal years (the “Performance Period”). (For purposes of this Agreement, “NOP” will be defined as Net Operating Income). The Net Sales growth goals and NOP growth goals will be equally weighted. The annual Net Sales growth goals, the annual NOP growth goals and the corresponding performance adjustment multiples are as follows: Annual Growth Goals over the Performance Period (2019 thru 2021 fiscal years) Payout – as Multiple of Award Units to Vest Net Sales (50%) NOP (50%) Threshold 3% 4% 0.5X Target 5% 9% 1.0X Maximum 12% 20% 2.0X The calculation of the “Adjusted Award Units” based on performance versus these growth goals will be determined as follows:
Performance Adjustments. For each XXX Period, if the Capacity Factor were assumed to be precisely 100.00 percent, then the Maximum Monthly XXX Payment shall be defined as follows: Maximum Monthly XXX Payment = Contract Price x XXX Factor x 1.0000 x Contract Capacity x (Hours in applicable XXX Period less Seller Excuse Hours). This calculation shall be rounded to the nearest $0.01. To the extent that Seller fails to satisfy the Performance Requirements specified above in Section 4.5, Seller shall be liable for and pay to Buyer “Performance Adjustments”, as defined herein. For each 1 percent by which the Capacity Factor in each XXX Period is less than the Performance Requirement for such XXX Period, Seller shall incur and pay to Buyer the following percentages of the applicable Maximum Monthly XXX Payment (“Performance Adjustment Factors”): XXX PERIOD _____________________________________ Period 1. Super-Peak 2. Shoulder 3. Night A. June – September 3.00 2.00 1.25 B. Oct. – Dec., Jan. & Feb. 2.50 1.75 1.25 C. Mar. – May 1.50 1.25 1.00 [Note: Super-Peak (June-September) in A.1 of the table above, shall be the only XXX Period factor applicable to the Peaking Product.] For each XXX Period, if the applicable Capacity Factor is less than the applicable Performance Requirement, then the Performance Adjustment for such XXX Period shall be calculated as follows: Performance Adjustment = (Performance Requirement - Capacity Factor) x Performance Adjustment Factor x Maximum Monthly XXX Payment. For the purpose of calculating the Performance Adjustment for any month in Period A, the Performance Requirement for Period A will be measured and calculated for each month in Period A. For the purpose of calculating the Performance Adjustment for each month in Periods B and C, the Performance Requirement shall be measured and calculated once on an aggregate basis for the entire period in the month immediately following the last month of the completed Period B or C, as applicable, which shall include all months constituting the applicable period. Buyer shall calculate the Period B or C Performance Requirements on a calendar year basis. The Performance Adjustment for each month in Periods B and C shall be reflected in an invoice provided by Buyer to Seller no later than March 31st of the following calendar year or if the Transaction has been terminated or the last year of the Delivery Term has occurred, then the last month prior to the expiration or termination of the Transaction. The party owing payment...
Performance Adjustments. 15.1.1 Those faculty members who qualified for a performance adjustment during Spring quarter 2009, will receive a $1500 increase in base salary. Those faculty members who qualified for an exceptional performance adjustment will receive, in addition to the performance adjustment increase, an additional $2000 increase in base salary. Performance and exceptional performance adjustments will become effective September 16, 2009.
Performance Adjustments. 4.1 If the Executive:
Performance Adjustments. (a) FAILURE TO ACHIEVE U.S. *** . If for any calendar year, either Party fails to achieve at least ninety percent (90%) of such Party's *** for such calendar year in the U.S. Territory, such Party's share of the split of U.S. Product Profits pursuant to Sections 6.4(a) and (b) for such calendar year shall be *** for each *** from the *** . For example, if a Party fulfills only *** of its *** and it is entitled to *** of the U.S. Product Profits, such Party's share of the U.S. Product Profits for such calendar year shall be reduced to *** and the other Party's share of the U.S. Product Profit shall be *** . In no event shall the adjustment to U.S. Product Profits exceed *** . For example, if a Party would otherwise be entitled to a *** profit split, such Party's profit split could not fall below *** as a result of this Section 6.8(a). Notwithstanding the foregoing, neither Party shall *** Portions of this page have been omitted pursuant to a request for Confidential Treatment and filed separately with the Commission. be deemed to have failed to achieve the required percentage of its *** if such failure resulted from an event of Force Majeure pursuant to Article 19. The calculations in this Section 6.8(a) of a Party's achievement of its *** shall be made on an aggregate basis across all Products and any reduction in the split of U.S. Product Profit shall apply to all Products for such calendar year.
Performance Adjustments. The number of Award Units granted hereunder is subject to adjustment based on the Company’s level of achievement versus annual Net Sales goals and annual NOP goals for the 20__, 20__, and 20__ fiscal years (the “Performance Period”). (For purposes of this Agreement, “NOP” will be defined as Net Operating Income). The Net Sales growth goals and NOP growth goals will be equally weighted. The annual Net Sales and NOP goals and the corresponding performance adjustment multiples are as follows: Payout Multiple Net Sales NOP Percent of AOP * achieved for 20__ Annual growth achieved for 20__ and 20__ Percent of AOP * achieved for 20__ Annual growth achieved for 20__ and 20__ Threshold 0.5X Target 1.0X Maximum 2.0X * The Company’s Annual Operating Plan (AOP) as approved by the Board of Directors for 20__. The calculation of the “Adjusted Award Units” based on performance versus these annual goals will be determined as follows:
Performance Adjustments. The Contractor shall pay the City $1 per each minute over 15 minutes if an empty Contractor trailer is not available at City transfer facility when needed for duration of more than 15 minutes.
Performance Adjustments. (a) Based upon, and following receipt by the Lenders of (a) the Borrower's annual audited consolidated financial statements for
