Budget Cap definition

Budget Cap shall have the meaning set forth in Section 2.8(a).
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Budget Cap means the amount of [***], as may be adjusted from time to time under Section 3.4(e) or otherwise by mutual written agreement of the Parties.
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Budget Cap has the meaning given to such term in Section 4.1.3.
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Examples of Budget Cap in a sentence

  • Pharming shall be obligated to reimburse Novartis for such Development Costs by payment of such amount to Novartis within [***] days after receipt of such report, provided that the aggregate amount of Development Costs to be reimbursed by Pharming under this Agreement shall not exceed the Budget Cap.

  • Contractor agrees to coordinate with the County Emergency Manager to prioritize Services in order to accomplish emergency repairs and the most vital of the Services within the Budget Cap.

  • The Project Developer shall pay, or cause OSH to pay, all costs and expenses in connection with the design, construction, furnishing and equipping of the Project Improvements to the extent such costs and expenses exceed the Budget Cap, including any modifications requested by MLS to comply with MLS Facilities Standards or other of its rules and regulations, but excluding any costs or expenses which are Excluded Costs (the "Cost Overruns").

  • The Parties acknowledge and agree that the total Project Costs, excluding Cost Overruns and Excluded Costs, shall be a maximum of Sxity-Nine Million Dollars ($69,000,000.00) (the "Budget Cap"); provided, however, the Soccer Stadium must meet the Design Standards.

  • Except as otherwise provided in this Agreement, Project Costs shall be paid from the Construction Budget within the Budget Cap, and Cost Overruns shall be paid by Project Developer from its own funds as an Excluded Cost.

  • For clarity (and without limiting the foregoing), Novartis shall be permitted to amend the Trial Budget from time to time as necessary to reflect Novartis’ good faith estimate of the Development Costs without the approval of Pharming, the JCT or the Transition Committee, but Pharming’s obligation to reimburse Novartis for Development Costs shall remain subject to the Budget Cap and Section 8.5.

  • In addition to other costs and expenses specifically identified in this Agreement as being the responsibility of the City and regardless of the funding levels held in the Project Development Fund, and notwithstanding anything herein to the contrary, the City shall be obligated to pay all Project Costs in an amount equal to the Budget Cap less the OSH Contribution.

  • Upon completion of 15 years, or the year the Budget Cap has been reached; this Agreement shall terminate and the Tax Increment produced by the Project Area will return to the tax rolls and be disbursed to the Taxing Entity.

  • Budget Cap (Optional) Client agrees to a 10% surcharge to all billing in exchange for PGI’s obligation to waive all charges above the budget cap of $ .

  • The Parties agree that the terms of this Agreement allow for the Project Area to exist for fifteen (15) years, or until the Budget Cap of $10,000,000 has been reached, whichever occurs first.


More Definitions of Budget Cap

Budget Cap has the meaning set forth in Section 4.4(d).
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Budget Cap means, for each Member (a) with respect to the Initial Facilities, the amount in U.S. dollars set forth opposite such Member’s name in the Initial Facilities Budget, (b) with respect to the PA Required Expansion Facilities, the amount in U.S. dollars set forth opposite such Member’s name in Attachment D to the Initial Resolution, in each case as such amount may be increased from time to time in accordance with Section 4.2(f).
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Budget Cap means an financial amount allotted by the DCC Team Leader for an Increment or a Sprint;
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Budget Cap means the fixed limit of Project Costs available for the design, construction, furnishing, equipping and development of the Facility, as established in the Master Project Budget submitted by Developer and approved by the County.
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Related to Budget Cap

  • Budget year means the financial year of the municipality for which an annual budget is to be approved in terms of section 16(1) of the MFMA;

  • Budget Period means the fiscal period for which a budget is prepared.

  • Budget unit means the unit for which the ANB of a district is calculated separately pursuant to 20-9-311.

  • State Budget Director means the individual appointed by the Governor pursuant to Section 321 of The Management and Budget Act, 1984 PA 431, MCL 18.1321.

  • Capitalization Reimbursement Amount As to any Distribution Date, the amount of Advances or Servicing Advances that were added to the Stated Principal Balance of the related Mortgage Loans during the prior calendar month and reimbursed to the Master Servicer or Subservicer on or prior to such Distribution Date pursuant to Section 3.10(a)(vii), plus the Capitalization Reimbursement Shortfall Amount remaining unreimbursed from any prior Distribution Date and reimbursed to the Master Servicer or Subservicer on or prior to such Distribution Date.

  • Consolidated Capitalization means the sum obtained by adding (i) Consolidated Shareholders' Equity, (ii) Consolidated Indebtedness for money borrowed (exclusive of any thereof which is due and payable within one year of the date such sum is determined) and, without duplication, (iii) any preference or preferred stock of the Company or any Consolidated Subsidiary which is subject to mandatory redemption or sinking fund provisions.

  • Budget Holder means the director or employee with delegated authority to manage finances (Income and Expenditure) for a specific area of the organisation.

  • Budget Act means an act containing appropriations which form a portion of the state's annual budget.

  • Adjusted EPS means earnings per share further adjusted for share-based payments, amortization of acquired intangible assets, items outside the normal scope of our ordinary activities (including other items, within selling, general and administrative expenses, losses/(gains) on items held at fair value and remeasurements through profit and loss, impairment losses on tangible assets, and impairment losses on intangible assets) and the related tax effects of these adjustments. Adjusted EPS provides a basis for comparison of our business operations between current, past and future periods by excluding items that we do not believe are indicative of our core operating performance. Adjusted EPS may not be comparable to other similarly titled metrics of other companies.

  • Total Consolidated Capitalization means, at any time, the sum of (i) Total Consolidated Debt plus (ii) the total amount of shareholder’s equity of the Company.

  • Adjusted EBITDA Margin means Adjusted EBITDA divided by operating revenue;

  • EBITDA Margin means the ratio between (a) EBITDA and (b) total toll and other concession revenues.

  • Adjusted Capital and Reserves means the aggregate of:

  • EBITA means for any period, operating profit (loss) plus (i) amortization, including goodwill impairment, (ii) amortization of non-cash distribution and marketing expense and non-cash compensation expense, (iii) restructuring charges, (iv) non-cash write-downs of assets or goodwill, (v) charges relating to disposal of lines of business, (vi) litigation settlement amounts and (vii) costs incurred for proposed and completed acquisitions.

  • Market Capitalization means an amount equal to (i) the total number of issued and outstanding shares of common stock or common equity interests of the IPO Entity on the date of the declaration of the relevant dividend multiplied by (ii) the arithmetic mean of the closing prices per share of such common stock or common equity interests for the 30 consecutive trading days immediately preceding the date of declaration of such dividend.

  • Annual Balanced Budget means that, in each Funding Year of the term of this Agreement, the total revenues of the HSP are greater than or equal to the total expenses, from all sources, of the HSP;

  • Consolidated Capitalization Ratio on the last day of any fiscal quarter, the ratio of (a) Consolidated Total Indebtedness to (b) Consolidated Capital.

  • Consolidated Cash Balance means, at any time, the aggregate amount of cash and cash equivalents, marketable securities, treasury bonds and bills, certificates of deposit, investments in money market funds and commercial paper, in each case held by the Parent and its Consolidated Subsidiaries.

  • Cumulative EBITDA means, as of any date of determination, EBITDA of the Company from the Existing Notes Issue Date to the end of the Company’s most recently ended full fiscal quarter prior to such date, taken as a single accounting period.

  • Target EBITDA means, for each fiscal year, the EBITDA set forth in the operating budget of the Company, as approved by the Board, for the particular year.

  • Shareholders’ Equity means, as of any date of determination, consolidated shareholders’ equity of the Lead Borrower and its Subsidiaries as of that date determined in accordance with GAAP.

  • Total adjusted capital means the sum of:

  • Annualized EBITDA means, for the four consecutive quarters ending on each Reporting Date, the Operating Partnership’s Pro Rata Share (as defined below) of earnings before interest, taxes, depreciation and amortization (“EBITDA”), with other adjustments as are necessary to exclude the effect of all realized or unrealized gains and losses related to hedging obligations, items classified as extraordinary items and impairment charges in accordance with generally accepted accounting principles, adjusted to reflect the assumption that (i) any EBITDA related to any assets acquired or placed in service since the first day of such four-quarter period had been earned, on an annualized basis, from the beginning of such period, and (ii) any assets disposed of during such four-quarter period had been disposed of as of the first day of such period and no EBITDA related to such assets had been earned during such period.

  • Adjusted Operating Income for each year in the Performance Period is defined as the Company’s net income from continuing operations as reported in the Company’s financial statements (including accompanying footnotes and management’s discussion and analysis), adjusted as set forth in the immediately following sentence. In calculating Adjusted Operating Income, net income from continuing operations shall be adjusted as follows: first (A) remove the after-tax effects of the following items: (i) losses (net of reinsurance) from catastrophes (as designated by the Insurance Service Office’s Property Claims Service Group, the Lloyd’s Claim Office, Swiss Reinsurance Company’s sigma report, or a comparable report or organization generally recognized by the insurance industry, and reported by the Company as a catastrophe); asbestos and environmental reserve charges (or releases); net realized investment gains or losses in the fixed maturities and real estate portfolios; and (ii) extraordinary items, the cumulative effect of accounting changes and federal income tax rate changes, and restructuring charges, each as defined by generally accepted accounting principles in the United States, and each as reported in the Company’s financial statements (including accompanying footnotes and management’s discussion and analysis); (B) reduced, as to the first year in the Performance Period (20XX), by $XXXXXX, as to the second year in the Performance Period (20XX), by $XXXXXX times the ratio of: the Company’s 20XX consolidated personal lines homeowners net written premium plus commercial lines property net written premium plus 50% of commercial lines multi peril net written premium divided by the Company’s 20XX consolidated personal lines homeowners net written premium plus commercial lines property net written premium plus 50% of commercial lines multi peril net written premium, and as to the third year in the Performance Period (20XX), by $XXXXXX times the ratio of: the Company’s 20XX consolidated personal lines homeowners net written premium plus commercial lines property net written premium plus 50% of commercial lines multi peril net written premium divided by the Company’s 20XX consolidated personal lines homeowners net written premium plus commercial lines property net written premium plus 50% of commercial lines multi peril net written premium; and (C) reduced by an amount intended, as of the date of this award, to approximate historical levels of credit losses (on an after-tax basis) associated with the Company’s fixed income investments, determined by (i) multiplying a fixed factor, expressed as 2.25 basis points, by the amortized cost of the Company’s fixed maturity investment portfolio at the beginning of each quarter during the relevant year in the Performance Period and (ii) adding the after-tax sum of the amounts resulting from (i) for such year in the Performance Period.

  • CAGR means compound annual growth rate;

  • EBITDA Target means the Company's projected earnings before interest, taxes, one-time transition expenses, non-cash compensation expense charges, depreciation and amortization, as contained in the Company's budget for the Applicable Period and which is approved by the Board (without reference to any adjustments or revision, upwards or downwards, to such projected earnings which are subsequently approved by the Board as part of any subsequent revision to such budget), and (ii) the term "Financial Results" shall mean the Company's EBITDA calculated by reference to the Company's financial statements for the Applicable Period as filed with the Securities and Exchange Commission (the "SEC").