Credit Unit Cancellation Base Sample Clauses

Credit Unit Cancellation Base. A CUCB shall be determined for each calendar month in the following manner: The value of the assets of the Fund at the beginning of the month shall be divided by the average number of Employees used in determining Maximum Funding for the Fund for such month.
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Credit Unit Cancellation Base. (a) A CUCB shall be determined for each calendar month in the following manner: The current market value of the total assets in each Fund as of the close of business on the last day of the immediately preceding month as certified by the Trustee (plus as provided in Section (5)(d) of this Article additional contribution amounts, if any, to be added to the market value of the assets for Automatic Short Week Benefits for Scheduled Short Work Weeks paid during the previous month), shall be divided by the average number of Hourly or Salaried Employees, as the case may be, used in determining Maximum Funding for each Fund for such month. (b) The CUCB for any particular month shall be applied to each of the Pay Periods beginning within such month; provided, however, that whenever the CUCB for any particular month beginning on or after September 24, 2012 is less than $698.40, the CUCB shall be applied only to the first Pay Period beginning within such month; and thereafter there shall be determined a CUCB for each Pay Period until the CUCB for a particular Pay Period equals or exceeds the CUCB stated for such period. When the CUCB for a particular Pay Period equals or exceeds the CUCB stated for such period, the CUCB shall be applied to each Pay Period until a CUCB for the following calendar month shall be applicable. In determining the CUCB for a particular Pay Period, the current market value of the total assets in the appropriate Fund as of the close of business on Friday preceding such Pay Period, as certified by the Trustee, (plus as provided in Section (5)(d) of this Article, additional contribution amounts, if any, to be added to the market value of the assets for Automatic Short Week Benefits for Scheduled Short Work Weeks paid during the previous month), shall be used.
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Related to Credit Unit Cancellation Base

  • Contract Cancellation DCF may cancel this Contract after providing the Contractor with thirty (30) calendar days written notice of the Contractor’s right to cure a failure of the Contractor to perform under the terms of this Contract. The following are examples of contractor failure that would warrant cancellation: • Breaches or defaults an obligation under the Contract as follows: • Fails to follow the sales and use tax certification requirements of s. 77.66 of the Wisconsin Statutes; • Incurs a delinquent Wisconsin tax liability; • Fails to submit a non-discrimination or affirmative action plan as required here in; • Fails to follow the non-discrimination or affirmative action requirements of subch. II, Chapter 111 of the Wisconsin Statutes (Wisconsin’s Fair Employment Law); • Becomes a Federally debarred Contractor; • Is excluded from Federal procurement and non-procurement contracts; • Fails to maintain and keep in force all required insurance, permits and licenses as provided in this Contract; • Fails to maintain the confidentiality of DCF’s information that is considered to be Confidential Information, proprietary, or containing Personally Identifiable Information; • Contractor violates other state laws; or • Contractor performance threatens the health or safety of a State employee or State customer. The Contractor may cancel this Contract after providing DCF one hundred and twenty (120) calendar days’ notice of the State’s right to cure a failure of the State to perform under the terms of this Contract. Upon cancellation of this Contract for any reason, or upon Contract expiration, each party shall be released from all obligations to the other party arising after the date of cancellation or expiration, except for those that by their terms survive such cancellation or expiration.

  • ORDER CANCELLATION Users of this contract are advised that orders (all or part) cancelled or returned after acceptance of requested merchandise will be subject to a restocking fee of ten percent (10%) of the invoice amount (not to exceed $500.00 per order) plus return freight charges. The amount authorized for payment of return freight will, in no instance, be more than original delivery charges documented by carrier. These charges may be applied, at the option of the supplier, to those orders which have been accepted. Orders cancelled prior to shipment or acceptance by ordering entity from the manufacturer will not be assessed charges.

  • Automatic cancellation The Commitment of each Lender will be automatically cancelled at the close of business on the last day of the Availability Period.

  • TERMINATION/CANCELLATION Cancellation of orders once placed with or accepted by Seller can be made only with Seller’s consent. Should Buyer, due to good cause, desire to affect the cancellation of an accepted order, Seller will accept such cancellation on the following basis: (a) For all made-to-order Goods: Buyer shall pay the purchase price in full for all items completed and ready for delivery; Buyer shall pay a percentage of the purchase price on such items as shall not be completed, equivalent to the percentage of completion; and Buyer shall pay in full the cost of all raw materials, consumable materials, manufacturing dies, tools, patterns and fixtures acquired exclusively for the order, and will take ownership and possession of all such items and will be responsible for labor or other documenting expenses incurred in connection therewith. (b) For all made-to-stock Goods: Buyer shall pay (i) all costs and expenses of placing the cancelled Goods in a saleable condition (restocking charge), (ii) any outgoing and incoming freight charges incurred by Seller in connection with the delivery and return of such Goods, if applicable, and (iii) all reasonable and necessary expenses incurred by Seller directly incident to the order up to the date of cancellation. Invoices covering said costs shall be due and payable immediately upon Seller’s acceptance of cancellation. A stop work order will be deemed a cancellation and the provisions of this paragraph shall apply. If Buyer purchases Goods pursuant to an order for use in a contract with the U.S. Government and the U.S. Government terminates Buyer’s prime contract or a portion thereof for convenience, Buyer shall have the right to terminate only that portion of its contract with Seller which has been terminated by the U.S. Government in its prime contract. In such case, Buyer shall be responsible for those costs set forth above.

  • Termination/Cancellation/Rejection The State specifically reserves the right upon written notice to immediately terminate the contract or any portion thereof at no additional cost to the State, providing, in the opinion of its Commissioner of Buildings and General Services, the products supplied by Contractor are not satisfactory or are not consistent with the terms of this Contract. The State also specifically reserves the right upon written notice, and at no additional cost to the State, to immediately terminate the contract for convenience and/or to immediately reject or cancel any order for convenience at any time prior to shipping notification.