Existing Incentive definition

Existing Incentive means each of the following Incentives (defined in the Terms and Conditions) or Tax Attributes (defined in the Terms and Conditions) payable to, or inuring to the benefit of, Provider: (i) Make-ready incentive from the local distribution utility, equal to $200,000, to be used exclusively for the System located at the ▇▇▇▇▇ Depot; (ii) Incentive Tax Credits equal to 30% of the eligible costs of Chargers and Infrastructure under Section 30C of the Inflation Reduction Act of 2022 (“IRA”); and (iii) Accelerated depreciation for the System. Existing Incentives shall be paid or credited to Provider. (b) A “Customer Incentive” means each of the following incentives payable to, or inuring to the benefit of, Customer: (i) The “EPA CSB Incentive” means $200,000.00 per Vehicle for each of the fourteen (14) Vehicles under the EPA Clean School Bus 2023 Rebate program, as to which Provider was the applicant and is the awardee; and (ii) Incentive Tax Credits equal to $40,000/Vehicle under Section 45W of the IRA (“45W Tax Credit”). Each Party will comply with the incentive compliance requirements applicable to such Party set forth on Exhibit 1C.
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Examples of Existing Incentive in a sentence

  • Any WSCD Program Grant award or payment in any amount or outside of the time period contemplated by the preceding sentence, or, without limitation, the absence of a timely award or payment of a WSCD Program Grant as an Existing Incentive in the amount of at least $500,000, shall be a failure of a “Condition Precedent” within the meaning of Terms and Conditions Section 4(a, whereupon, the Parties will have the rights and will be subject to the obligations set forth in Terms and Conditions Section 4(a).

  • The parties hereto desire to amend and restate the Existing Incentive Stock Option Agreement to provide for, among other things, (i) the amendment of the (A) Existing Option Shares (as defined below) and (B) Existing Option Price and (ii) the modification and amendment of certain other terms and conditions of the Existing Incentive Stock Option Agreement.

  • The Company and the Optionee desire and have agreed to amend and restate the Existing Incentive Stock Option Agreement in its entirety as and pursuant to this Agreement.

  • Notwithstanding the foregoing, upon written notice to Provider, the Customer may assign its rights and responsibilities to KWRL as a separate nonprofit entity or any of the school districts making up the KWRL cooperative if required by law, a Governmental Authority with jurisdiction, or the terms of the interlocal agreement under which KWRL is organized; provided, however, that such assignment does not violate the terms of the EPA CSB Incentive or any Existing Incentive.

  • The Company and the Optionee are parties to the Existing Incentive Stock Option Agreement (as defined below), pursuant to which the Company agreed to grant to the Optionee on the Existing Grant Date (as defined below) an option to purchase shares of the Company's Common Stock.

  • In carrying out the Installation Services, the Provider shall comply, and ensure that all of its subcontractors comply, with the provisions of all federal, state, and local statutes, regulations, and ordinances applicable to the Installation Services and those laws and requirements made applicable to the Installation Services pursuant to the provisions of any Existing Incentive or the EPA CSB Incentive.

  • Customer shall not withhold its consent pursuant to the preceding sentence to the extent (i) Provider demonstrates functional equivalency between initially specified Chargers or Infrastructure and the replacement chargers or infrastructure; (ii) the replacement chargers or infrastructure are required by the local utility or applicable law, or (iii) the replacement chargers and infrastructure are required pursuant to the terms of any Existing Incentive or other Incentive.

  • The Contract Price has been established taking into account the award on or before December 15, 2024 and the payment within six months after award of the Washington State Clean Diesel Program: Ecology’s Electric School Bus Grant (“WSCD Program Grant”) in the amounts and as a Customer Incentive or an Existing Incentive as provided in this Section 30.

  • This Agreement, together with the Indemnification Agreement, the Existing Incentive Agreements, and any agreement in respect of the Equity Award, constitutes the entire agreement between the parties and supersedes all prior agreements and understandings, whether written or oral, relating to the subject matter of this Agreement.

  • The parties hereto hereby forever release, waive and disclaim any and all rights under the Existing Incentive Stock Option Agreement.