Closing the Gap Sample Clauses

The "Closing the gap" clause is designed to address and resolve any discrepancies or shortfalls that may arise between the parties' expectations and the actual outcomes under an agreement. In practice, this clause typically outlines procedures for identifying gaps—such as unmet deliverables, performance shortfalls, or financial differences—and specifies how these should be remedied, which may include additional work, compensation, or renegotiation. Its core function is to ensure that both parties are protected from unforeseen differences and that the agreement remains fair and balanced by providing a clear mechanism for addressing and correcting any such issues.
Closing the Gap work with Schools
View Source
Closing the Gap. Response and initial findings at City 6.3.1 To further enable decision-making based on evidence, City has used OFFA’s statistical tool to model the impact of our financial support in previous years. We analysed the impact of bursaries awarded to 2009 and 2012 first-year cohorts (2009: Maintenance Grant, 2012: National Scholarship Scheme). The main findings have informed the decisions below. 6.3.2 The rationale for changes to our financial support comes from analysing the differential outcomes of two year groups, in line with OFFA’s toolkit. For each year analysed, financial support yields some positive results for recipient groups. We therefore consider it appropriate to continue providing financial support at the current level while we conduct further analysis across subsequent years. 6.3.3 For the 2009 cohort, students who were prioritised as grant recipients (care leavers) were more likely to continue in their studies. In statistical terms, holding all other variables constant in the model, the estimated odds of completing a degree for priority-bursary holders (care leavers) were more than 11 times the odds of the comparator group (students from similar financial backgrounds but without the support of a financial bursary). 6.3.4 Receipt of the highest value award in 2012 correlated with a higher probability of success for students from low-income backgrounds (supported by anecdotal data from bursary recipients). Holding all other variables constant in the model, the odds of completing the first year were 161% higher for low-income students in receipt of a bursary than the odds of completion for the comparator group of low-income students without a bursary. We can therefore infer that there is a statistically significant association between being a low-income bursary holder and increased odds of completing the first year of studies in comparison to the comparator group. 6.3.5 From this we might infer that bursaries are more effective in overcoming disadvantage if they are of higher value, while retaining an element of prioritisation. As there is an early indication of a positive impact, we consider it premature to reduce the amount directed to financial support at this time. We will therefore restructure our financial support, combining the means-tested aspect, priority criteria and higher-value. We will guarantee awards based on more specific criteria. 6.3.6 We will monitor and evaluate our new scheme to check whether our changes have led to the assumed...
View Source

Related to Closing the Gap

  • Closing Covenants The Purchaser agrees with the Vendor that after closing he:

  • PRE-CLOSING COVENANTS The Parties agree as follows with respect to the period between the execution of this Agreement and the Closing.

  • Closing Transactions On the terms and subject to the conditions set forth in this Agreement, the following transactions shall occur in the order set forth in this Section 2.1:

  • Post-Closing Covenants The Parties agree as follows with respect to the period following the Closing.

  • Conditions to the Closing Date The obligation of each Lender to make its initial Loans hereunder is subject to satisfaction of the following conditions precedent to the Administrative Agent satisfaction: (a) The Administrative Agent receipt of the following, each of which shall be originals or facsimile or other electronic image transmission (e.g., “PDF” or “TIF” via electronic mail) (followed promptly by originals) unless otherwise specified, each properly executed by a member of the Senior Management of the signing Credit Party, each dated the Closing Date (or, in the case of certificates of governmental officials, a recent date before the Closing Date) and each in form and substance reasonably satisfactory to the Administrative Agent: (i) (A) executed counterparts of this Agreement, sufficient in number for distribution to the Administrative Agent, each Lender and the Credit Parties, and (B) executed counterparts of each Security Document sufficient in number for distribution to the Administrative Agent and the Credit Parties, and an executed Note for each Lender who requests a Note; (ii) an officer’s certificate of each Credit Party executing a Loan Document, (A) certifying and attaching true, correct and complete copies of: (1) the certificate of formation, certificate of incorporation, articles of incorporation (or such equivalent thereof) of such Credit Party, and, where applicable, certified as of a recent date from the Secretary of State (or applicable Governmental Authority) of the jurisdiction in which such Credit Party is incorporated or formed, (2) the by-laws, limited liability company agreement, articles of association, partnership agreement or other applicable Governing Document of such Credit Party, and (3) the resolutions or votes of the board of directors or board of managers or partners (or equivalent thereof) of such Credit Party, authorizing such Credit Party’s entry into the Loan Documents to which it is a party; and (B) certifying the incumbency of members of the Senior Management of such Credit Party authorized to act in connection with this Agreement and the other Loan Documents to which such Credit Party is a party and providing a specimen signature of such members of the Senior Management of such Credit Party who will be signing Loan Documents on the Closing Date and thereafter; (iii) such documents and certifications as the Administrative Agent may require to evidence that each Credit Party executing a Loan Document is validly existing and in good standing (where applicable) in its jurisdiction of incorporation or formation, as applicable; (iv) a favorable legal opinion of ▇▇▇▇▇▇▇ ▇▇▇▇ & ▇▇▇▇▇▇▇▇▇ LLP, special New York counsel to the Credit Parties, addressed to the Administrative Agent and each Lender, as to matters concerning the Credit Parties and the Loan Documents as the Administrative Agent may reasonably request; and (v) a certificate of a member of the Senior Management of the Borrower certifying that (1) the condition specified in Sections 4.02(b) has been satisfied, (2) there has been no event or circumstance since December 31, 2023 that has had or could be reasonably expected to have, either individually or in the aggregate, a Material Adverse Effect, and (3) all consents, licenses, and approvals required in connection with the execution, delivery and performance by each Credit Party and the validity against each Credit Party of the Loan Documents to which such Credit Party is a party have been obtained. (b) The Administrative Agent shall have received duly executed Agency Account Agreements, signed by each of the applicable parties thereto, for each deposit account or securities account required to be subject to an Agency Account Agreement pursuant to the terms of Section 6.16 hereof.