SUBSTANTIAL EQUIVALENCY Sample Clauses

The Substantial Equivalency clause defines the standard by which one party’s performance or deliverables are considered acceptable if they are essentially equal in function, quality, or value to what was originally specified, even if not identical. In practice, this means that minor differences in materials, methods, or outcomes are permitted as long as the overall result meets the intended purpose or requirements of the contract. This clause is commonly used in construction, manufacturing, or service agreements to provide flexibility and avoid disputes over insignificant deviations, ensuring that the contract can be fulfilled without unnecessary delays or renegotiations over trivial details.
SUBSTANTIAL EQUIVALENCY. The Board of Education retains the right to authorize salary schedule placement other than set forth above based upon Superintendent's determination of substantial equivalency.
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SUBSTANTIAL EQUIVALENCY. The economic and governance terms of each Alternative Investment Vehicle shall be substantially the same in all material respects as those of the Fund. (a) Notwithstanding anything in this Agreement to the contrary, the economic provisions of this Agreement or similar agreement or instrument governing such Alternative Investment Vehicle are intended to be, and hereby shall be, construed in all material respects and effected in such a manner as to cause each Limited Partner individually, and the General Partner and its Affiliated entities that may be utilized to effectuate this Section 7.2 collectively, to receive the same aggregate allocations and distributions, at substantially the same times, from the Fund and the Alternative Investment Vehicles as they would have been entitled to receive if (i) all capital contributions to the Alternative Investment Vehicle were made to, and all distributions from the Alternative Investment Vehicle were made by, the Fund, (ii) all Alternative Investment Vehicle investments in its portfolio companies and Alternative Investment Vehicle short-term investments were initially acquired by, and were at all times held by, the Fund, (iii) all Alternative Investment Vehicle expenses (including management fees incurred or paid by any Alternative Investment Vehicle) were incurred and paid solely by the Fund, and (iv) all Alternative Investment Vehicle management fee offsets were with respect to the Fund; provided, however, that the allocations and distributions may differ as a result of taxes paid or payable by the Alternative Investment Vehicle (or any Entity included in such vehicle). Without limiting the foregoing, there shall be no duplication of management fees or general partner/special limited partner giveback obligations among the Fund and the Alternative Investment Vehicles. In the event that a Limited Partner Transfers any portion of its interest hereunder in the absence of a corresponding Transfer of a proportionately equivalent interest of such Limited Partner in each other Alternative Investment Vehicle in which it is a limited partner or similar investor, or if any limited partner or similar investor in any Alternative Investment Vehicle Transfers any portion of its interest in any such Entity without a corresponding Transfer of a proportionately equivalent interest hereunder, such corresponding transferred and retained interest shall continue to be subject to the provisions of this Section 7.2, unless otherwise deter...
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Related to SUBSTANTIAL EQUIVALENCY

  • Contribution Formula - Basic Life Coverage For employee basic life coverage and accidental death and dismemberment coverage, the Employer contributes one-hundred (100) percent of the cost.

  • PARTICIPANT’S ACCEPTANCE The undersigned hereby accepts the foregoing Option and agrees to the terms and conditions hereof, including the terms and provisions of the 2015 Equity Incentive Plan. The undersigned hereby acknowledges receipt of a copy of the Company’s 2015 Equity Incentive Plan.

  • Employer Contribution (a) An Employer contribution for health and dental benefits will only be made for each active employee who has at least eighty (80) paid regular hours in a month and who is eligible for medical insurance coverage, unless otherwise required by law. (b) It is understood that the administrative intent of this Article is that the Employer contribution is made for individuals who are participants in the medical insurance coverages. Participation will mean that eligible less-than-full-time employees who drop out of coverage will be considered to participate. Additionally, employees who elect to opt out of coverage for a cash incentive will be considered to participate.

  • Definition of Total Disability Total disability means that the employee is unable, because of sickness or accident, to perform the duties of their regular occupation. This definition applies for the first twenty-four (24) months of payments. After this time, the inability to perform an occupation for which the employee is reasonably fitted by training, education or experience will constitute total disability. It is not required that an employee be confined to home, but they must be under the regular care of a physician.

  • INCOME FROM EMPLOYMENT 1. Subject to the provisions of Articles 16, 18 and 19, salaries, wages and other similar remuneration derived by a resident of a Contracting State in respect of an employment shall be taxable only in that State unless the employment is exercised in the other Contracting State. If the employment is so exercised, such remuneration as is derived therefrom may be taxed in that other State. 2. Notwithstanding the provisions of paragraph 1, remuneration derived by a resident of a Contracting State in respect of an employment exercised in the other Contracting State shall be taxable only in the first-mentioned State if: a) the recipient is present in the other State for a period or periods not exceeding in the aggregate 183 days in any twelve month period commencing or ending in the fiscal year concerned, and b) the remuneration is paid by, or on behalf of, an employer who is not a resident of the other State, and c) the remuneration is not borne by a permanent establishment or a fixed base which the employer has in the other State. 3. Notwithstanding the preceding provisions of this Article, remuneration derived in respect of an employment exercised aboard a ship or aircraft operated in international traffic by an enterprise of a Contracting State may be taxed in that State.