Vacancy Deduction definition

Vacancy Deduction shall be determined by multiplying Gross Rent and Reimbursements and Other Operating Income by the greatest of (i) the actual vacancy at the Property at the time of determination and (ii) an imputed vacancy rate of one percent (1%).
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Vacancy Deduction shall have the meaning set forth on Exhibit A attached hereto and made a part hereof.
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Vacancy Deduction shall have the meaning set forth in the Mortgage Loan Agreement.
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Examples of Vacancy Deduction in a sentence

  • For positions exempt from the Service Contract Act, the Position Vacancy Deduction shall be calculated monthly as follows: the number of days the position is vacant in the corresponding month of each vacancy times eight (hours), times the fully burdened labor hourly labor rate for each position.

  • For positions subject to the Service Contract Act, the Position Vacancy Deduction (TE 3B) shall be calculated monthly as follows: the number of days the position is vacant in the corresponding month of each vacancy times eight (hours), times the DOL conformed hourly wage rate plus burdens for that position.

  • The Position Vacancy Deduction is in addition to, and does not abrogate or diminish, any other performance related remedy of the contract.

  • If both an NCR is issued and the NCR occurred in a short staffed location, the Contractor may be assessed a Position Vacancy Deduction for such location in the corresponding monthly invoice for services under the associated CLIN 0002, 1001, 2001, 3001, and 4001 (Support Services).

  • Contractor is granted 14 calendar days (CONUS)/21 calendar days (OCONUS) grace period to fill a vacancy; after such time, a Position Vacancy Deduction may be assessed.

  • If both an NCR is issued and the NCR occurred in a short staffed location, the Contractor may be assessed a Position Vacancy Deduction for such location in the corresponding monthly invoice for services under the associated CLIN 0002, 1001, 2001, 3001, AND 4001 (Support Services).

  • Unacceptable service performance may result in Unsatisfactory Performance Evaluation in the Contractor Performance Assessment Reporting System or Position Vacancy Deduction, if applicable, as described below.

  • Contractor is granted a 14 calendar days (applicable to CONUS locations)/21 calendar days (applicable to OCONUS locations only) grace period to fill a vacancy; after such time, a Position Vacancy Deduction may be assessed.

  • Notwithstanding a finding of unsatisfactory service performance and imposition of a Position Vacancy Deduction, the Contractor must, as soon as possible, remedy any and all deficiencies in the provision of services, and, as deemed possible or feasible by COR or his/her designee, perform such services again at an acceptable level.


More Definitions of Vacancy Deduction

Vacancy Deduction shall be determined by multiplying Gross Potential Rent and Expense Reimbursements by the greatest of (a) the actual vacancy at the Property at the time of determination, (b) the then-prevailing market vacancy in the vicinity of the Property, and (c) an imputed vacancy rate of (i) 0% with respect to Units B and C, provided they are leased to TD Bank, N.A., (ii) 5% with respect to Units B and C in the event they are not leased to TD Bank, N.A., (iii) 5% with respect to Unit A and (iv) 100% with respect to Unit D.
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Related to Vacancy Deduction

  • Allocation Year Means (i) the period commencing on the Closing Date and ending on December 31, 2006, (ii) any subsequent period commencing on January 1 and ending on the following December 31, or (iii) any portion of the period described in clause (ii) for which the Company is required to allocate Profits, Losses and other items of Company income, gain, loss or deduction pursuant to Article V.

  • Election Year means a year in which ordinary elections for local governments are required to be held;

  • Final Adjustment Amount has the meaning set forth in Section 2.4(c).

  • Termination Year means the calendar year in which the Employment Period is terminated.

  • Aggregate Net Losses means, with respect to a Collection Period, an amount equal to the aggregate Principal Balance of all Receivables that became Defaulted Receivables during such Collection Period minus all Net Liquidation Proceeds collected during such Collection Period with respect to all Defaulted Receivables.

  • Ultimate Net Loss as used herein is defined as the sum or sums (including loss in excess of policy limits, extra contractual obligations and loss adjustment expense, as hereinafter defined) paid or payable by the Company in settlement of claims and in satisfaction of judgments rendered on account of such claims, after deduction of all salvage, all recoveries and all claims on inuring insurance or reinsurance, whether collectible or not. Nothing herein shall be construed to mean that losses under this Contract are not recoverable until the Company's ultimate net loss has been ascertained.

  • Post-Closing Adjustment Amount has the meaning set forth in Section 1.9.3.

  • Determination Year means the Plan Year for which testing is being performed, and the “look-back year” means the immediately preceding twelve (12) month period.

  • Interest Adjustment Date With respect to a Mortgage Loan, the date, if any, specified in the related Mortgage Note on which the Mortgage Interest Rate is subject to adjustment.

  • Tax Adjustment has the meaning set forth in Section 4.7.

  • Aggregate Remaining Net Positive Adjustments means, as of the end of any taxable period, the sum of the Remaining Net Positive Adjustments of all the Partners.

  • Net Adjustment Amount means an amount, which may be positive or negative, equal to the Closing Net Working Capital as finally determined pursuant to this Section 2.9 minus the Preliminary Net Working Capital as set forth on the Preliminary Closing Statement;

  • Payment Adjustment Date With respect to each ARM Loan, the date on which the Borrower's Monthly Payment changes in accordance with the terms of the related Mortgage Note.

  • Optimal Adjustment Event With respect to any Class of Class B Certificates and any Distribution Date, an Optimal Adjustment Event will occur with respect to such Class if: (i) the Principal Balance of such Class on the Determination Date succeeding such Distribution Date would have been reduced to zero (regardless of whether such Principal Balance was reduced to zero as a result of principal distribution or the allocation of Realized Losses) and (ii) (a) the Principal Balance of any Class of Class A Certificates would be subject to further reduction as a result of the third or fifth sentences of the definition of Principal Balance or (b) the Principal Balance of a Class of Class B Certificates with a lower numerical designation would be reduced with respect to such Distribution Date as a result of the application of clause (ii) of the definition of Class B-1 Principal Balance, Class B-2 Principal Balance, Class B-3 Principal Balance, Class B-4 Principal Balance, Class B-5 Principal Balance or Class B-6 Principal Balance.

  • Adjustment Amount For any Distribution Date, the difference between (A) the sum of the Class A Principal Balance and the Class B Principal Balance as of the related Determination Date and (B) the sum of (i) the sum of the Class A Principal Balance and the Class B Principal Balance as of the Determination Date succeeding such Distribution Date and (ii) the aggregate amount that would have been distributed to all Classes as principal in accordance with Section 4.01(a) for such Distribution Date without regard to the provisos in the definitions of Class B-1 Optimal Principal Amount, Class B-2 Optimal Principal Amount, Class B-3 Optimal Principal Amount, Class B-4 Optimal Principal Amount, Class B-5 Optimal Principal Amount and Class B-6 Optimal Principal Amount.

  • Closing Adjustment Amount shall have the meaning set forth in Section 2.3(b)(i)(A).

  • Final average salary means whichever of the following is greater:

  • Capital Account Distribution Date and "Income Account Distribution Date" shall mean the "Distribution Dates" set forth in the "Essential Information" in the Prospectus.

  • Remaining Net Positive Adjustments means as of the end of any taxable period, (i) with respect to the Unitholders holding Common Units or Subordinated Units, the excess of (a) the Net Positive Adjustments of the Unitholders holding Common Units or Subordinated Units as of the end of such period over (b) the sum of those Partners’ Share of Additional Book Basis Derivative Items for each prior taxable period, (ii) with respect to the General Partner (as holder of the General Partner Units), the excess of (a) the Net Positive Adjustments of the General Partner as of the end of such period over (b) the sum of the General Partner’s Share of Additional Book Basis Derivative Items with respect to the General Partner Units for each prior taxable period, and (iii) with respect to the holders of Incentive Distribution Rights, the excess of (a) the Net Positive Adjustments of the holders of Incentive Distribution Rights as of the end of such period over (b) the sum of the Share of Additional Book Basis Derivative Items of the holders of the Incentive Distribution Rights for each prior taxable period.

  • Allocation Period means (a) the period commencing on February 10, 2016 and ending on December 31, 2016, (b) any subsequent period commencing on January 1 and ending on the following December 31, or (c) any portion of the period described in clause (a) or (b) for which the Partnership is required to allocate Net Profits, Net Losses, and other items of Partnership income, gain, loss or deduction pursuant to ARTICLE IV.

  • Final Shared-Loss Month means the calendar month in which the tenth anniversary of the Commencement Date occurs.

  • Extraordinary Adjustment Event means any of the following events as they relate to the Reference In- strument:

  • Net Working Capital Adjustment Amount means an amount (which may be a positive or negative number) equal to (a) the Closing Date Net Working Capital minus (b) the Target Net Working Capital.

  • Working Capital Adjustment Amount means the amount (which may be positive or negative) equal to the result of the Closing Net Working Capital minus the Target Working Capital Amount.

  • Post-Closing Adjustment has the meaning set forth in Section 2.04(b)(ii).

  • Final Adjustment has the meaning set forth in Section 10.3.B(2) hereof.