Payment in Lieu definition

Payment in Lieu means a payment of money in lieu of a conveyance otherwise required under section 42, 51.1 or 53; (“paiement tenant lieu de cession”)
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Payment in Lieu has the meaning given in clause 25.1;
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Payment in Lieu means the payment of funds equivalent to the value of the amount of land that the County would otherwise have been entitled to acquire for park or other public recreational purposes as part of a development. The Payment-in-Lieu is usually required as a condition of a site plan, draft plan of subdivision or draft plan of condominium approval.
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Examples of Payment in Lieu in a sentence

  • It is understood that there shall be no reduction in Payment in Lieu if a Regular Part Time Employee elects to participate in O.M.E.R.S.

  • Payment in Lieu If the School makes payment in lieu for all or any of the period of notice prescribed, the period for which such payment is made must be treated as service with the School for the purposes of computing any service related entitlement of the Lutheran School Officer.

  • Fiscal payment is a one-time payment not applicable to any benefits or premiums including but not limited to Pension Contributions, Vacation Pay, Public Holiday Pay, Payment in Lieu of Benefits, etc.

  • The amount the employee will receive for Payment in Lieu of Health Insurance will be determined by deducting the cost of the dental and/or vision coverage from $1,800 (example: On January 1 employee elects family dental coverage for which the annual cost is $1,200, the employee will be paid $600 cash in lieu of health coverage).

  • Any employee who elects Payment in Lieu of Health Insurance Coverage may elect at the same time to be enrolled in dental and/or vision coverage.

  • An employee who elects Payment in Lieu of Health Insurance Coverage after January 1 of any year, shall be paid a pro- rata amount of the $1,800 in the same manner as described in the previous sentence with the amount calculated based on the number of full months remaining in the calendar year after the date of the election (example: employee hired June 15, will be entitled to $900 for that year effective July 1).

  • Payment in Lieu of Hotel Receipts When an employee stays in a private residence and does not have a hotel bill, the employee will be reimbursed for an out-of-pocket expense to provide a gift for the persons the employee is staying with.

  • Payment in Lieu of Notice - During a reduction of force, an employee may be offered six weeks of payment either in a lump sum or paid out over 3 pay periods when prior notice of separation is not provided.

  • The plan will also permit eligible employees to choose between group medical coverage and the Cash Payment in Lieu of Medical/Hospitalization Insurance described in Section H(6)(a)&(b) of this article and permit employee and employer Health Savings Account contributions, subject to applicable tax requirements.

  • This Payment in Lieu will be equal to the basic salary (as at the date of termination) which you would have been entitled to receive under this agreement during the notice period referred to at clause 2 (or, if notice has already been given, during the remainder of the notice period) less income tax and National Insurance contributions.


More Definitions of Payment in Lieu

Payment in Lieu has the meaning set forth in Section III(F).
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Payment in Lieu means a payment of money in place of meeting all or part of the storm water performance standards required by this ordinance.
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Payment in Lieu has the meaning given in subparagraph 5.04(a)(i).
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Payment in Lieu. As used in Clause 10.11of this Agreement for payment made by Council to a redundant employee when Council does not give 10 weeks notice for termination of employment. The calculation of the payment in lieu shall be based on 10 times the weekly wages at the time of termination.
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Payment in Lieu the actual payment required to be made to the London Borough of Waltham Forest pursuant to the Viability Reassessment Pro Forma.
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Payment in Lieu means a sum in lieu of notice equal to the basic salary (as at the date of termination) which you would have been entitled to receive under this Agreement during the relevant notice period referred to at clause 13.1 (or, if notice has already been given, during the remainder of the notice period) less any deductions required by law; “Prospective Customer’’ means any person, firm or company with whom during the period of twelve months preceding the Termination Date, the Company was or has been in negotiations or discussions with or to whom the company shall have presented a proposal with a view to such person, firm or Company placing an order for goods or services with the Company;
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Related to Payment in Lieu

  • Payment-in-lieu-of-dues means an assessment to defray the cost for services by the exclu-

  • Payment in lieu of taxes means those estimated tax revenues from real property in a redevelopment project area derived from real property that has been acquired by a municipality which according to the redevelopment project or plan is to be used for a private use which taxing districts would have received had a municipality not acquired the real property and adopted tax increment allocation financing and which would result from levies made after the time of the adoption of tax increment allocation financing to the time the current equalized value of real property in the redevelopment project area exceeds the total initial equalized value of real property in said area.

  • Agreement in lieu of a plan means a contract between the plan-approving authority and the owner that specifies conservation measures that must be implemented in the construction of a single-family residence; this contract may be executed by the plan-approving authority in lieu of a formal site plan.

  • Payment Ahead means, with respect to a Precomputed Receivable and a Collection Period, any Excess Payment (not representing, when added to any Deferred Prepayment with respect to such Precomputed Receivable, a prepayment in full of such Precomputed Receivable) which the Servicer, in accordance with its customary servicing practices, will apply towards the payment of Scheduled Payments due in one or more future Collection Periods.

  • Prepayment In Full With respect to any Mortgage Loan, a Mortgagor payment consisting of a Principal Prepayment in the amount of the outstanding principal balance of such loan and resulting in the full satisfaction of such obligation.

  • 10% in Liquidation Amount means, except as provided in the terms of the Capital Securities or by the Trust Indenture Act, Holder(s) of outstanding Securities, voting together as a single class, or, as the context may require, Holders of outstanding Capital Securities or Holders of outstanding Common Securities, voting separately as a class, who are the record owners of 10% or more of the aggregate liquidation amount (including the stated amount that would be paid on redemption, liquidation or otherwise, plus accumulated and unpaid Distributions to the date upon which the voting percentages are determined) of all outstanding Securities of the relevant class.

  • PAGA Payment means the penalties pursuant to PAGA that the Parties have agreed is a

  • Payment in Full means the indefeasible payment in full in cash of all of the Obligations.

  • Principal Prepayment in Full Any Principal Prepayment made by a Mortgagor of the entire principal balance of a Mortgage Loan.

  • Cash Payment has the meaning set forth in Section 2.03(b)(iii) below.

  • Repurchase Value means the Fair Market Value in the event the award to be repurchased under Section 10.2 is comprised of shares of Common Stock and the difference between Fair Market Value and the Exercise Price (if lower than Fair Market Value) in the event the award is a Stock Option or Stock Appreciation Right; in each case, multiplied by the number of shares subject to the award.

  • Repurchase Obligation has the meaning set forth in Section 8.6.

  • Accelerated Purchase Price means, with respect to any Accelerated Purchase made pursuant to Section 2(b) hereof, the lower of ninety-seven percent (97%) of (i) the VWAP for the period beginning at 9:30:01 a.m., Eastern time, on the applicable Accelerated Purchase Date, or such other time publicly announced by the Principal Market as the official open (or commencement) of trading on the Principal Market on such applicable Accelerated Purchase Date (the "Accelerated Purchase Commencement Time"), and ending at the earliest of (A) 4:00:00 p.m., Eastern time, on such applicable Accelerated Purchase Date, or such other time publicly announced by the Principal Market as the official close of trading on the Principal Market on such applicable Accelerated Purchase Date, (B) such time, from and after the Accelerated Purchase Commencement Time for such Accelerated Purchase, that the total number (or volume) of shares of Common Stock traded on the Principal Market has exceeded the applicable Accelerated Purchase Share Volume Maximum, and (C) such time, from and after the Accelerated Purchase Commencement Time for such Accelerated Purchase, that the Sale Price has fallen below the applicable Accelerated Purchase Minimum Price Threshold (such earliest of (i)(A), (i)(B) and (i)(C) above, the "Accelerated Purchase Termination Time"), and (ii) the Closing Sale Price of the Common Stock on such applicable Accelerated Purchase Date (to be appropriately adjusted for any reorganization, recapitalization, non-cash dividend, stock split, reverse stock split or other similar transaction).

  • Unpaid Balance of any Receivable means at any time the unpaid principal amount thereof.

  • Repurchase Payment for any Repurchased Receivable as of the last day of any Collection Period, means the sum of the Principal Balance thereof as of the beginning of such Collection Period plus interest accrued thereon through the due date for the Obligor’s payment in such Collection Period at the related APR, after giving effect to the receipt of monies collected on such Repurchased Receivable, if any, during such Collection Period.

  • Outstanding Loan Balance means the principal amount of your full-time Direct Loans outstanding at any time, including any Canada Student Grant amount(s) converted to a Direct Loan, together with all interest on those amounts.

  • Repurchase Price means, with respect to any Loan the Book Value, adjusted to reflect changes to Book Value after Bank Closing, plus (i) any advances and interest on such Loan after Bank Closing, minus (ii) the total of amounts received by the Assuming Bank for such Loan, regardless of how applied, after Bank Closing, plus (iii) advances made by Assuming Bank, plus (iv) total disbursements of principal made by Receiver that are not included in the Book Value.

  • Untimely payment means a payment to a subcontractor that is more than 90 days past due under the terms and conditions of a subcontract for supplies and services for which the Government has paid the prime contractor.

  • Outstanding Balance of any Receivable at any time means the then outstanding principal balance thereof.

  • Change in Control Payment shall have the meaning stated in Section 6.4 hereof.

  • Co-payment means a relatively small amount of money paid by the insured person towards the cost of each day in a private hospital per episode of care, with Latrobe paying the rest of the cost.

  • Prepayment Consideration shall have the meaning set forth in Section 2.3.1.

  • Contingent Payment has the meaning set forth in Section 4.2 (Contingent Payments).

  • Purchase Obligation means the unconditional and irrevocable obligation of the Liquidity Provider during the term and pursuant to the terms of the VRDP Shares Purchase Agreement to purchase Outstanding VRDP Shares on any Purchase Date at the Purchase Price from Beneficial Owners, in the case of any Optional Tender, and Holders, in the case of any Mandatory Tender or any Mandatory Purchase, in each case following delivery of a Final Notice of Purchase with respect to such VRDP Shares.

  • Repurchase Amount shall have the meaning set forth in Section 4.2 hereof.

  • Majority in Liquidation Amount means, with respect to the Trust Securities, except as provided in the terms of the Capital Securities or by the Trust Indenture Act, Holder(s) of outstanding Trust Securities voting together as a single class or, as the context may require, Holders of outstanding Capital Securities or Holders of outstanding Common Securities voting separately as a class, who are the record owners of more than 50% of the aggregate liquidation amount (including the stated amount that would be paid on redemption, liquidation or otherwise, plus accrued and unpaid Distributions to the date upon which the voting percentages are determined) of all outstanding Securities of the relevant class.