Special Charge Clause Samples

Special Charge. During fiscal 2001, the Company approved a number of actions to reduce operating expenses and improve profitability and cash flows. These actions included a reduction in workforce of 104 employees and the discontinuance of certain product lines. As a result of these actions the company recorded the following as special charge (in thousands): Severance and related costs $1,305 Write-off of capitalized software 3,452 Write-off of goodwill................................................ 562 Write-off deferred costs............................................. 966 In addition, the Company reserved or wrote-off inventory in the amount of $3.1 million, primarily related to discontinued products in its Broadcast and Gyyr subsidiaries. This charge is included in cost of sales in the accompanying consolidated statement of operations.

Special Charge. In the event there is a lack of compliance for payment of the Annual PILOT, then the City, in addition to any other remedy available at law or in equity, may levy a special charge or assessment under Wisconsin Law on the personal property for the delinquent amount as calculated herein to enable the City to enforce performance. The owners of the personal property and their successors and assigns further agree that they waive any objection to the City making said special charge or assessment; however, they still retain their right to object to the accuracy and amount of the special charge or assessment.

Special Charge. Developer acknowledges the special benefit to the Property of 982 the Village’s financial contributions to the Apartment Project pursuant to this Agreement. If 983 Developer fails to make any special charge payment owed by Developer under subsection H. 984 within thirty (30) days after written notice from the Village of such failure, then as the Village’s 985 sole remedy for a breach of subsections G. and H., ▇▇▇▇▇▇▇▇▇ consents to the Village levying a 986 special charge against the Apartment Property in the amount of such unpaid shortfall. Developer 987 waives all rights to notice and hearing related to the special charge and waive all rights to object 988 to procedural or other irregularities in the levy of the special charge.

Special Charge. In the event there is a lack of compliance for payment of the Annual PILOT or Deficiency PILOT, then the City, in addition to any other remedy available at law or in equity, may levy a special charge or assessment under Section 66.0627, Wis. Stat.,

Special Charge. The undersigned Required Lenders hereby waive compliance by the Borrower with the covenants set forth in Sections 5.01(i), 5.01(j) and 5.01(k) of the Credit Agreement, solely in respect of the Borrower's four fiscal quarters ending September 30, 1996 and December 31, 1996 (in the case of Sections 5.01(i) and 5.01(j)) or as of September 30, 1996 and December 31, 1996 (in the case of Section 5.01(k)); provided that in each case: (a) such covenants are complied with no later than March 31, 1997; (b) such covenants would be complied with in respect of the Borrower's four fiscal quarters ending September 30, 1996 and December 31, 1996 (or as of September 30, 1996 and December 31, 1996 with respect to the covenant set forth in Section 5.01(k)) had the Borrower not taken a special charge against operating income of no more than $185 million (or a net after-tax charge of no more than $150 million) in the Borrower's fiscal quarter ending September 30, 1996 (the "Special Charge") for the estimated cost to settle claims made by the Office of Inspector General of the U.S. Department of Health and Human Services and other third party payor claimants regarding billing disputes to which the Borrower or any of its Subsidiaries is a party; and (c) the schedules furnished by the Borrower with the financial statements for the fiscal quarters ending September 30, 1996 and December 31, 1996 pursuant to Section 5.01(l)(iii)(B) of the Credit Agreement include computations with respect to the covenants contained in Sections 5.01(i), 5.01(j) and 5.01(k) of the Credit Agreement both including and excluding the Special Charge described above. Notwithstanding any contrary provision in the Credit Agreement, it is expressly agreed that solely for purposes of Section 3.02(ii) of the Credit Agreement during the period commencing January 1, 1997 through March 31, 1997, the Special Charge shall not be included in the calculation, on a pro forma basis, of the Leverage Ratio, the Interest Coverage Ratio or Stockholders' Equity.

Special Charge