POOL POINTS Sample Clauses

The "POOL POINTS" clause establishes a system for tracking and allocating points within a defined pool, typically used in contexts such as employee incentive programs, loyalty schemes, or collaborative projects. Under this clause, participants may earn, accumulate, or redeem points based on specific actions, achievements, or contributions as outlined in the agreement. Its core practical function is to provide a transparent and structured method for recognizing and rewarding participation or performance, thereby promoting engagement and fairness among stakeholders.
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POOL POINTS. 4.1 The Pool revenues shall be shared according to a distribution key allocated to each Pool Vessel (“Pool Points”). The Pool Points allocated to the Pool Vessel shall, as fairly as possible, reflect the earning potential of the Pool Vessel. 4.2 At the time that the Pool Vessel enters into the Pool, 102.34 Pool Points shall be provisionally allocated to the Pool Vessel (“Initial Pool Points”). The basis for the calculation of Pool Points is set out in Appendix 1.1 and as it may be updated from time to time in accordance with this Agreement. It is acknowledged and agreed by the Parties that the initial Pool Points allocated at the time of delivery are to be confirmed basis the updated Pool Points evaluation process as applicable when the Pool Vessel enters the Pool. The Company shall advise the Participant accordingly. 4.3 The Pool Vessel’s performance as recorded by the Weather Routing Company shall be reviewed six months (or such other period at the reasonable discretion of the Company) after the Pool Vessel has entered the Pool (“Initial Performance Review”) as more particularly detailed in Appendix 1.2. The Initial Pool Points will be revised to take into account the result of the Initial Performance Review and the re-calculated Pool Points shall apply (i) retroactively as from the Pool Vessel’s entry into the Pool and the Pool Participant’s entitlement to distribution shall be adjusted accordingly; and (ii) for the period until the next scheduled Semi-Annual Performance Review. 4.4 Not later than 10 December and 10 June of each year, the Company shall submit to the Pool Participant a summary of the Pool Vessel’s performance as recorded by the Weather Routing Company (“Semi-Annual Performance Review”) which the Pool Participant shall accept (unless it contains manifest errors) within ten days from receipt. Upon acceptance by the Pool Participant, the Company will calculate the revised Pool Points for each Pool Vessel and the result of such recalculation shall take effect for the next six month period (i.e. as from 1 January and 1 July, as applicable) (“Semi-Annual Pool Points Calculation”). Concurrently with each Semi-Annual Performance Review, the Company shall determine Premium and Penalties due to or payable by each Pool Vessel as determined in accordance with the procedures set out in Appendix 1.2. 4.5 In addition, to ensure that the Pool Points formula set out in Appendix 1.1 always reflects the true earnings capacity of a Pool Vessel in the perfor...
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POOL POINTS. 320 (a) The formula for calculating Pool Points is described in Annex D (Pool Points Formula). Its objective is to produce a 321 distribution key which reflects the relative earning capacity of the Pool Vessels. 322 (b) The Pool Points for a new Pool Vessel shall be determined by the Participants’ Meeting, taking into account any 323 propos al presented by the Pool Managers, using the formula referred to in Sub -clause (a) above and also taking into 324 account any special factors relating to the new Pool Vessel. 325 (c) In addition to the on-going review conducted by the Pool Managers under Clause 8 (Pool Management), the voyage 326 results and performance of all Pool Vessels shall be reviewed every six (6) months, except for the first perio d if less 327 than six (6) months, on respectively 1 January and 1 July by the Pool Managers. The Pool Managers shall review the 328 results and performance with the purpose of ensuring that the Pool Points are fair and equitable taking into account 329 factors affecting the relative earning capacity of the Pool Vessels, including but not lim ited to: 330 (i) changes in the projected or actual trading pattern of the Pool Vessels which will affect their relative trading 331 value; 332 (ii) changes in the price and other costs relating to bunkers; Copyright, published by BIMCO. 2012. 333 (iii) introduction of new rules and regulations, including imposition of trading restrictions affecting the employment or 334 employment potential of the Pool Vessels; and 335 (iv) changes or modifications to the Pool Vessels’ capacity, size and/or technical conditions since the Pool Points 336 were last determined. 337 Any recommendations of the Pool Managers for changing either the Pool Points or the Pool Points Formula shall be put 338 before the next Participants’ Meeting (see Sub-clause 12(e)(i)). All revisions are effective for future Pool Points only, 339 but with effect from the reference date in respect of which they were made. Printed by BIMCO’s IDEA·2 340 341 342 343 344 345 346 347 348 349 350 351 352 353 Explanatory Notes for POOLCON are available from BIMCO at ▇▇▇.▇▇▇▇▇.▇▇▇ 354 355 356 357 358 359 360 361 362 363 364 365 366 367 368 369 370 371 372 373 374 375 376 377 378 Copyright, published by BIMCO. 2012. 379 380 381 382 383 384 385 (d) The Pool Points for each Pool Vessel may be revised at shorter intervals if, in the reasonable opinion of the Pool Managers, changed circumstances require an adjustment of Pool Points.
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Related to POOL POINTS

  • Key Points It is noteworthy that this MoU was signed with ▇▇▇▇▇▇▇ ▇▇▇▇▇▇ (IAS), Managing Director of Patna Metro Rail Development (PMRC) and Additional Chief Secretary (ACS), Urban Development and Housing Department (UDHD).

  • Contact Points Each Party shall designate a contact point to facilitate communications between the Parties on any matter covered by this Agreement.

  • Points The points to be assigned to the classification levels under this Agreement shall be: C14 - C13 - C12 32 C11 64 C10 96 C9 12 additional points above C10 C8 24 additional points above C10 C7 36 additional points above C10 C6 48 additional points above C10 C5 60 additional points above C10 C4 Standards and points to be finalised C3 Standards and points to be finalised C2a Standards and points to be finalised C2b Standards and points to be finalised C1a Standards and points to be finalised C1b Standards and points to be finalised and in accordance with Table 2 in the National Metal and Engineering Competency Standards Implementation Guide.

  • Key Deal Points You are the exclusive, unencumbered owner of the Asset(s), and you have honestly and accurately represented the Asset(s) to the best of your knowledge and ability. §We have agreed with you to a purchase price and form of consideration to be paid for each Asset, as outlined below. §For a period of time from the date of this Purchase Agreement (the “Period”), you grant us the exclusive right to purchase the Asset(s).

  • Number Resources, Rate Center Areas and Routing Points 13.1 Nothing in this Agreement shall be construed to limit or otherwise adversely affect in any manner either Party’s right to employ or to request and be assigned any Central Office Codes (“NXX”) pursuant to the Central Office Code Assignment Guidelines and any relevant FCC or Commission orders, as may be amended from time to time, or to establish, by Tariff or otherwise, Rate Center Areas and Routing Points corresponding to such NXX codes. 13.2 It shall be the responsibility of each Party to program and update its own switches and network systems pursuant to information provided on ASRs as well as the LERG in order to recognize and route traffic to the other Party’s assigned NXX codes. Except as expressly set forth in this Agreement, neither Party shall impose any fees or charges whatsoever on the other Party for such activities. 13.3 Unless otherwise required by Commission order, the Rate Center Areas will be the same for each Party. During the term of this Agreement, Onvoy shall adopt the Rate Center Area and Rate Center Points that the Commission has approved for Frontier within the LATA and Tandem serving area. Onvoy shall assign whole NPA-NXX codes to each Rate Center Area unless otherwise ordered by the FCC, the Commission or another governmental entity of appropriate jurisdiction, or the LEC industry adopts alternative methods of utilizing NXXs. 13.4 Onvoy will also designate a Routing Point for each assigned NXX code. Onvoy shall designate one location for each Rate Center Area in which the Onvoy has established NXX code(s) as the Routing Point for the NPA-NXXs associated with that Rate Center Area, and such Routing Point shall be within the same LATA as the Rate Center Area but not necessarily within the Rate Center Area itself. Unless specified otherwise, calls to subsequent NXXs of Onvoy will be routed in the same manner as calls to ▇▇▇▇▇’s initial NXXs. 13.5 Notwithstanding anything to the contrary contained herein, nothing in this Agreement is intended, and nothing in this Agreement shall be construed, to in any way constrain Onvoy’s choices regarding the size of the local calling area(s) that Onvoy may establish for its Customers, which local calling areas may be larger than, smaller than, or identical to Frontier’s local calling areas.