Guaranteed Lump Sum definition

Guaranteed Lump Sum means a sum equal to Five (5) times the Member's annual retirement income determined under article 12 using the Member's date of death as the Date of Determination, less any sums already received and any unpaid arrears of Required Contributions
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Guaranteed Lump Sum. Price is comprised of (i) the Turbine Contract in the amount of ONE HUNDRED SIXTY SEVEN MILLION THREE HUNDRED FORTY THREE THOUSAND SEVEN HUNDRED TWENTY EIGHT DOLLARS ($167,343,728), and (ii) the "Contractor's Fixed Price" in the amount of FIFTY FIVE MILLION ONE HUNDRED NINETY THOUSAND FIVE HUNDRED NINETEEN DOLLARS ($55,190,519). No escalation of the Guaranteed Lump Sum Price will be required if the Authorization to Proceed is given to Contractor on or before July 1, 2000. Responsibility for the payment of sales and use taxes shall be allocated between Owner and Contractor as set forth in Section 3.1(c). All taxes levied in connection with the performance of the Work, including occupational, excise, unemployment, FICA, income taxes, state and federal gasoline and fuel taxes, property taxes on Contractor's equipment, tools and supplies necessary for performance of the Work, and customs duties on materials and supplies and all other taxes on any item or service that is a part of the Work, whether such tax is normally included in the price of such item or service or is normally separately stated, shall be the responsibility of Contractor and are included in the Guaranteed Lump Sum Price. With respect to all personal property, services or materials that are subject to sales and use tax, Contractor shall follow the procedures set forth in Section 3.1(c).
Sample 1Sample 2
Guaranteed Lump Sum means a sum equal to Five (5) times the Member’s annual retirement income determined under article 12 using the Member’s date of death as the Date of Determination, less any sums already received and any unpaid arrears of Required Contributions
Sample 1

Examples of Guaranteed Lump Sum in a sentence

  • The amount of liquidated damages Contractor is subject to, or is liable for pursuant to the terms of this Agreement, except for liquidated damages under Section 13.7, shall be a reduction to the Guaranteed Lump Sum Price.

  • Such activities in this Section 24(a) are included in the Guaranteed Lump Sum Price, are to be undertaken concurrently with Plant operations, and are to be completed no later than six (6) months following the date of Plant Commercial Operation.

  • Contractor's total aggregate liability for liquidated damages under this Section 13.4 shall not exceed twenty two and one half percent (22 1/2%) of the Guaranteed Lump Sum Price.

  • Contractor's total aggregate liability for liquidated damages under this Section 13.3 shall not exceed twenty two and one half percent (22 1/2%) of the Guaranteed Lump Sum Price.

  • If Contractor elects to suspend the Work and such suspension is subsequently removed and the Work is continued by Contractor, the Guaranteed Lump Sum Price will be increased by an amount equal to the increase, if any, in the cost actually incurred by Contractor and demonstrated to the reasonable satisfaction of Owner by Contractor to be over and above those in the Guaranteed Lump Sum Price, but only to the extent such costs are reasonable and necessary and result directly from such suspension.

  • The aggregate liability of Contractor for liquidated damages under this Agreement shall not exceed an amount equal to thirty percent (30%) of the Guaranteed Lump Sum Price, as amended pursuant to this Agreement, excluding any reduction in the Guaranteed Lump Sum Price made for liquidated damages pursuant to Section 13.6.

  • Contractor's total aggregate liability for liquidated damages under this Section 13.1 shall not exceed twenty two and one half percent (22 1/2%) of the Guaranteed Lump Sum Price.

  • Once the Guaranteed Lump Sum Price has been adjusted for liquidated damages as provided in Section 13.6 and all refunds, if any, completed, Contractor shall be relieved of any further liability but only with respect to the obligation(s) for which such damages are assessed.

  • Subject to the termination rights of Owner pursuant to Section 18.1(c), if the limits set forth in Section 14.1 have been reached and the Guaranteed Lump Sum Price has been adjusted for liquidated damages as provided in Section 13.6 and all refunds, if any, completed, Contractor shall be relieved of any further liability for damages arising out of excessive heat rate, output short falls and/or delay in achieving Commercial Operation.

  • Except as provided in Section 16(d), there shall be no increase in the Guaranteed Lump Sum Price on account of an event of Force Majeure, however time extensions may be granted in accordance with Section 16(b).

Related to Guaranteed Lump Sum

  • Guaranteed loan means the loan in the original principal amount specified in Clause 4 of the Special Conditions made by the Guarantee Holder to the State-Owned Enterprise under the Loan Agreement and denominated in Guarantee Currency or, where the context may require, the amount thereof from time to time outstanding, the proceeds of which shall be applied to the Investment Project.

  • Guaranteed Sum means: The maximum aggregate amount of R

  • Guaranteed Liabilities means: (a) the Company’s prompt payment in full, when due or declared due and at all such times, of all Obligations and all other amounts pursuant to the terms of the Revolving Credit Agreement, the Notes, and all other Loan Documents heretofore, now or at any time or times hereafter owing, arising, due or payable from the Company to any one or more of the Revolving Secured Parties, including principal, interest, premiums and fees (including, but not limited to, loan fees and reasonable fees, charges and disbursements of counsel (“Attorney Costs”)); (b) each Loan Party’s prompt, full and faithful performance, observance and discharge of each and every agreement, undertaking, covenant and provision to be performed, observed or discharged by such Loan Party under the Revolving Credit Agreement, the Notes and all other Loan Documents; and (c) the prompt payment in full by each Loan Party, when due or declared due and at all such times, of obligations and liabilities now or hereafter arising under Related Swap Contracts and Secured Cash Management Arrangements; provided, however, that the “Guaranteed Liabilities” shall exclude any Excluded Swap Obligations. The Guarantors’ obligations to the Revolving Secured Parties under this Guaranty Agreement are hereinafter collectively referred to as the “Guarantors’ Obligations” and, with respect to each Guarantor individually, the “Guarantor’s Obligations”. Notwithstanding the foregoing, the liability of each Guarantor individually with respect to its Guarantor’s Obligations shall be limited to an aggregate amount equal to the largest amount that would not render its obligations hereunder subject to avoidance under Section 548 of the United States Bankruptcy Code or any comparable provisions of any applicable state law. Each Guarantor agrees that it is jointly and severally, directly and primarily liable (subject to the limitation in the immediately preceding sentence) for the Guaranteed Liabilities. The Guarantors’ Obligations are secured by various Security Instruments referred to in the Revolving Credit Agreement, including without limitation, the Security Agreement and the Pledge Agreement.

  • Guaranteed Amounts means the amounts due from time to time from the Issuer to (i) the Covered Bondholders with respect to each Series of Covered Bonds (excluding any additional amounts payable to the Covered Bondholders under Condition 9(a) (Gross-up by the Issuer)) and (ii) the Other Issuer Creditors pursuant to the relevant Transaction Documents.

  • Guaranteed Advance Payment Sum means: The maximum amount of R .........................................................................

  • Guaranteed Amount means the aggregate amount of each Guaranteed Debt that is guaranteed at any time by Partner Guarantors.

  • Guaranteed elements means the premiums, credited interest rates (including any bonus), benefits, values, non-interest-based credits, charges, or elements of formulas used to determine any of these elements, that are guaranteed and determined at issue. An element is considered guaranteed if all of the underlying elements that go into its calculation are guaranteed.

  • Guaranteed Pension Plan means any employee pension benefit plan within the meaning of §3(2) of ERISA maintained or contributed to by any Borrower or any ERISA Affiliate the benefits of which are guaranteed on termination in full or in part by the PBGC pursuant to Title IV of ERISA, other than a Multiemployer Plan.

  • a guaranteed income payment means a payment made under article 15(1)(c) (injury benefits) or 29(1)(a) (death benefits) of the Armed Forces and Reserve Forces (Compensation Scheme) Order 2011;

  • Guaranteed Obligation and “Guaranteed Obligations” shall have the meaning assigned thereto in the Guarantee set forth on the signature pages hereto.

  • Guaranteed Agreement means the Framework Agreement and each Call-Off Contract made between the Supplier and each Other Contracting Body;

  • Guaranteed energy savings contract means a contract that includes all of the following:

  • Guaranteed Obligations has the meaning set forth in Section 11.01.

  • Guaranteed Debt of any Person means, without duplication, all Indebtedness of any other Person referred to in the definition of “Indebtedness” contained in this Section guaranteed directly or indirectly in any manner by such Person, or in effect guaranteed directly or indirectly by such Person through an agreement (i) to pay or purchase such Indebtedness or to advance or supply funds for the payment or purchase of such Indebtedness, (ii) to purchase, sell or lease (as lessee or lessor) property, or to purchase or sell services, primarily for the purpose of enabling the debtor to make payment of such Indebtedness or to assure the holder of such Indebtedness against loss, (iii) to supply funds to, or in any other manner invest in, the debtor (including any agreement to pay for property or services without requiring that such property be received or such services be rendered), (iv) to maintain working capital or equity capital of the debtor, or otherwise to maintain the net worth, solvency or other financial condition of the debtor or (v) otherwise to assure a creditor against loss; provided that the term “guarantee” shall not include endorsements for collection or deposit, in either case in the ordinary course of business or guarantees of operating leases.

  • Maximum Guaranteed Amount means as of the date of determination with respect to a Guarantor, the lesser of (a) the amount of the Guaranteed Obligations outstanding on such date and (b) the maximum amount that would not render such Guarantor’s liability under this Guaranty Agreement subject to avoidance under Section 548 of the United States Bankruptcy Code (or any successor provision) or any comparable provision of applicable state law.

  • Non-Guaranteed Elements means the premiums, credited interest rates (including any bonus), benefits, values, dividends, non-interest based credits, charges or elements of formulas used to determine any of these, that are subject to company discretion and are not guaranteed at issue. An element is considered non-guaranteed if any of the underlying non-guaranteed elements are used in its calculation.

  • Nonguaranteed elements means the premiums, credited interest rates (including any bonus), benefits, values, non-interest-based credits, charges or elements of formulas used to determine any of these elements, that are subject to company discretion and are not guaranteed at issue. An element is considered nonguaranteed if any of the underlying nonguaranteed elements are used in its calculation.

  • Guaranteed Interest Rate is the effective annual interest rate we will credit for a specified Guarantee Period. The Guaranteed Interest Rate will never be less than the minimum shown in the Schedule.

  • Guaranteed Energy Production or “GEP” has the meaning set forth in Section 3.1(e)(ii).

  • Guaranteed Indebtedness means, as to any Person, any obligation of such Person guaranteeing, providing comfort or otherwise supporting any Indebtedness, lease, dividend, or other obligation (“primary obligation”) of any other Person (the “primary obligor”) in any manner, including any obligation or arrangement of such Person to (a) purchase or repurchase any such primary obligation, (b) advance or supply funds (i) for the purchase or payment of any such primary obligation or (ii) to maintain working capital or equity capital of the primary obligor or otherwise to maintain the net worth or solvency or any balance sheet condition of the primary obligor, (c) purchase property, securities or services primarily for the purpose of assuring the owner of any such primary obligation of the ability of the primary obligor to make payment of such primary obligation, (d) protect the beneficiary of such arrangement from loss (other than product warranties given in the ordinary course of business) or (e) indemnify the owner of such primary obligation against loss in respect thereof. The amount of any Guaranteed Indebtedness at any time shall be deemed to be an amount equal to the lesser at such time of (x) the stated or determinable amount of the primary obligation in respect of which such Guaranteed Indebtedness is incurred and (y) the maximum amount for which such Person may be liable pursuant to the terms of the instrument embodying such Guaranteed Indebtedness, or, if not stated or determinable, the maximum reasonably anticipated liability (assuming full performance) in respect thereof.

  • Guarantied Obligations and "Secured Obligations," as the case may be (in each case as such terms are defined in the applicable Credit Support Document), including without limitation the payment and performance of all such "Obligations," "Guarantied Obligations" or "Secured Obligations," as the case may be, in respect of the Obligations of Borrowers now or hereafter existing under or in respect of the Amended Agreement. Each Credit Support Party acknowledges and agrees that any of the Credit Support Documents to which it is a party or otherwise bound shall continue in full force and effect and that all of its obligations thereunder shall be valid and enforceable and shall not be impaired or limited by the execution or effectiveness of this Amendment. Each Credit Support Party represents and warrants that all representations and warranties contained in the Amended Agreement and the Credit Support Documents to which it is a party or otherwise bound are true, correct and complete in all material respects on and as of the Second Amendment Effective Date to the same extent as though made on and as of that date, except to the extent such representations and warranties specifically relate to an earlier date, in which case they were true, correct and complete in all material respects on and as of such earlier date. Each Credit Support Party (other than Borrowers) acknowledges and agrees that (i) notwithstanding the conditions to effectiveness set forth in this Amendment, such Credit Support Party is not required by the terms of the Credit Agreement or any other Loan Document to consent to the amendments to the Credit Agreement effected pursuant to this Amendment and (ii) nothing in the Credit Agreement, this Amendment or any other Loan Document shall be deemed to require the consent of such Credit Support Party to any future amendments to the Credit Agreement.

  • Guaranteed Substantial Completion Date or “Guaranteed Substantial Completion Dates” has the meaning set forth in Section 5.3B.

  • Guaranteed Cash Management Agreement means any Cash Management Agreement that is entered into by and between any Loan Party and any Cash Management Bank.

  • Guaranteed Maximum Price or “GMP” means the amount proposed by Contractor and accepted by Owner as the maximum cost to Owner for construction of the Project in accordance with this Agreement. The GMP includes Contractor’s Construction Phase Fee, the General Conditions Cost, the Cost of the Work, and Contractor’s Contingency amount.

  • guarantee contract means a contract entered into by a person as guarantor;