Amount of Reduction Sample Clauses
The 'Amount of Reduction' clause defines how and by what measure a particular sum, obligation, or entitlement is to be decreased under specified circumstances. In practice, this clause outlines the method for calculating the reduction, such as a percentage decrease, a fixed amount, or a formula based on certain events or conditions. Its core function is to provide clarity and predictability regarding adjustments to amounts owed or due, thereby preventing disputes and ensuring both parties understand how reductions will be handled.
Amount of Reduction. In the event that any portion of the Total Payments payable to Executive in connection with a Change in Control of Corporation would constitute an “excess parachute payment” within the meaning of Section 280G(b) of the Internal Revenue Code that is subject to the excise tax imposed on so-called excess parachute payments pursuant to Section 4999 of the Internal Revenue Code (an “Excise Tax”), Monthly Severance Payments otherwise payable under Sections 6.3 or 7.2 will be reduced to avoid such Excise Tax if, and to the extent that, such reduction will result in a larger after-tax benefit to Executive, taking into account all applicable federal, state, and local income and excise taxes.
Amount of Reduction. (1) In general. The amount of the reduction in aggre- gate taxable gifts (or adjusted taxable gifts) is the lesser of—
(i) The increase in the individual’s taxable gifts resulting from the inter- est being valued at the time of the ini- tial transfer under § 25.2702–2(b)(1) or (c); or
(ii) The increase in the individual’s taxable gifts (or gross estate) resulting from the subsequent transfer of the in- terest.
Amount of Reduction. If public util- ity property of a taxpayer becomes de- regulated public utility property to which this section applies, the reduc- tion in the taxpayer’s excess tax re- serve permitted under section 203(e) of the Tax Reform Act of 1986 is equal to the amount by which the reserve could be reduced under that provision if all such property had remained public utility property of the taxpayer and the taxpayer had continued use of its normalization method of accounting with respect to such property.
Amount of Reduction. Except as otherwise provided in paragraphs (c)(3)(iv) (pertaining to transfers of partial interests) and (e) (pertaining to initial split gifts) of this section, the amount of the reduction is the lesser of—
(1) The amount by which the initial transferor’s taxable gifts were in- creased as a result of the application of section 2701 to the initial transfer; or
(2) The amount (determined under paragraph (c) of this section) dupli- cated in the transfer tax base at the time of the transfer of the section 2701 interest (the duplicated amount).
Amount of Reduction. (1) If in any period (see paragraph (c)(5) of this clause) the Contractor does not meet the performance requirements of this contract relating to ES&H or security or the safeguarding of Restricted Data and other classified information, the Contracting Officer will unilaterally determine the amount of reduction to the amount of payment for otherwise earned fee, fixed fee, profit, or other incentives for the period based on the severity of the performance failure pursuant to the degrees of failure specified in paragraphs (e) and (f) of this clause. The percent reduction for each performance failure will be: not less than 26% nor more than 100% for a first degree failure; not less than 11% nor more than 26% for a second degree failure; and no more than 11% for a third degree failure.
(2) For a reduction allocable to more than one period, the Government will make the allocation at the end of the period in which it determines the total amount of the reduction. Unless stated otherwise, the allocable amount is the total reduction amount divided by the number of periods the reduction covered.
(3) The Government will reduce the payment of otherwise earned fee, fixed fee, profit, or other incentives as soon as practicable after the end of the period in which the performance failure occurs. If the Government is not aware of the failure when it occurs, it will make the reduction as soon as practical after becoming aware.
(4) In determining the reduction to the amount of payment and the applicability of mitigating factors, the Contracting Officer must consider the Contractor's overall performance in meeting the ES&H or security or safeguarding of Restricted Data and other classified information performance requirements of the contract. Such consideration must include performance against any specific performance criteria/requirements that provide additional definition, guidance for the amount of reduction, or guidance for the applicability of mitigating factors. In all cases, the Contracting Officer must consider mitigating factors that may warrant a reduction below the reduction that would be appropriate absent mitigating factors. Mitigating factors include, but are not limited to, the following (paragraphs (c)(4)(v), (vi), (vii) and (viii) of this clause apply to ES&H only).
(i) Degree of control the Contractor had over the event or incident.
(ii) Efforts the Contractor had made to anticipate and mitigate the possibility of the event in advance.
(iii) Contractor's sel...
Amount of Reduction. The amount of the permanent reduction in the Variable Facility is as follows: Amount of Reduction: $ Resulting Amount of Variable Facility: $
Amount of Reduction. The amount of the permanent reduction in the Revolving Facility is as follows: Amount of Reduction: $ Resulting Amount of Revolving Facility: $
Amount of Reduction. If, and to the extent that the Annual Additions to a Participant's Accounts is reduced in accordance with the provisions of Section 5.5(a) above, the amount of such reduction shall, subject to the limitations in Sections 5.1 and 5.4, be allocated among the respective Accounts respectively of all remaining Participants in the proportion that the Compensation of a Participant bears to the total Compensation of all Participants, excluding those affected by the limitations in Sections 5.1 and 5.4.
Amount of Reduction to 6.0% $5,000 per 0.1% in excess of 2.0%
Amount of Reduction a. The amount of mandatory reduction shall equal the shortfall in Total Storage Available as compared to the Total Storage Required; or
b. The amount of mandatory reduction shall equal the overage of the last 12 months actual production as compared to the then-current annual production target; or
c. The amount of mandatory reduction shall equal some other amount as reflected in a governmental or regulatory order.