Explanation of application of compensation in case of TCRs Clause Samples

Explanation of application of compensation in case of TCRs. In elaboration of the provisions of Network Statement, section 5.6.6.1, under the heading "Conversion works", the Parties agree as follows in relation to financial compensation in the event of decommissioning in relation to passenger transport: A. Application of compensation 1. TCRs for which others than ProRail are applicants (Infrabel, ▇▇ ▇▇▇▇) fall outside the scope of this regulation. 2. The replacement passenger transport costs applicable for compensation are limited to the out-of- pocket costs, according to the description set out in point 1 above. 3. For the TCRs agreed in the 2024 Timetable on the route sections where Railway Undertaking provides public passenger transport, the percentage of the costs eligible for compensation shall be determined on an out-of-service basis based on the application of the provisions of section 5.6.6 of the Network Statement 2024. 4. In the event of a change in the scheduling of works, as set out in the list stated under point 3, in accordance with the following order: a. There shall be no compensation if the entire TCR is cancelled, provided this has been notified to Railway Undertaking at least 16 weeks before the start of the scheduled TCR; b. The level of compensation remains unchanged if: i. the entire TCR is rescheduled at least 16 weeks prior to its commencement to another time and equivalent time in the same timetable year; ii. part of the scheduled work does not take place or work is added to the TCR without having to adjust the alternative transport plan; c. If, as a result of the adjustment of work, changes are made to the size of the TCR (number of tracks and number of days) and/or the nature of the work (modernisation, conversion or combination) and this change is agreed upon at least 16 weeks prior to commencement, the percentage to be compensated shall be determined anew.
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Explanation of application of compensation in case of TCRs. In elaboration of the provisions of Network Statement, section 5.6.6.1, the Parties agree as follows in relation to financial compensation in the event of decommissioning in relation to passenger transport: A. Application of compensation 1. TCRs for which others than ProRail are applicants (Infrabel, DB InfraGO) fall outside the scope of this regulation. 2. The replacement passenger transport costs applicable for compensation are limited to the out-of- pocket costs, according to the description set out in point 1 above. 3. For the TCRs agreed in the 2025 Timetable on the route sections where Railway Undertaking provides public passenger transport, the percentage of the costs eligible for compensation shall be determined on an out-of-service basis based on the application of the provisions of section 5.6.6
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Related to Explanation of application of compensation in case of TCRs

  • Reduction of Compensation If the Firm fails to meet the submission date by less than thirty days for the draft report and/or working papers submitted to the Office of the State Auditor for review and approval or by less than thirty days from the completion date for the final reports and/or corrections to the working papers prescribed herein, the District may, with the consent of the Office of the State Auditor, reduce the agreed compensation by an amount not to exceed ten percent of the total contract price for the applicable fiscal year. If reports and/or corrections to the working papers are overdue by 30 days or more, the District may reduce, with the consent of the Office of the State Auditor, the agreed compensation by an amount not to exceed twenty percent of the total contract price for the Rev. 10/20 applicable fiscal year.

  • Calculation of Benefits Immediately following delivery of any Notice of Termination, the Company shall notify the Executive of the aggregate present value of all termination benefits to which he would be entitled under this Agreement and any other plan, program or arrangement as of the projected Date of Termination, together with the projected maximum payments, determined as of such projected Date of Termination that could be paid without the Executive being subject to the Excise Tax.

  • Annual Limitation of Payments by Applicant Section 5.1.

  • Certification of Funds; Budget and Fiscal Provisions; Termination in the Event of Non-Appropriation This Agreement is subject to the budget and fiscal provisions of the City’s Charter. Charges will accrue only after prior written authorization certified by the Controller, and the amount of City’s obligation hereunder shall not at any time exceed the amount certified for the purpose and period stated in such advance authorization. This Agreement will terminate without penalty, liability or expense of any kind to City at the end of any fiscal year if funds are not appropriated for the next succeeding fiscal year. If funds are appropriated for a portion of the fiscal year, this Agreement will terminate, without penalty, liability or expense of any kind at the end of the term for which funds are appropriated. City has no obligation to make appropriations for this Agreement in lieu of appropriations for new or other agreements. City budget decisions are subject to the discretion of the Mayor and the Board of Supervisors. Contractor’s assumption of risk of possible non-appropriation is part of the consideration for this Agreement. THIS SECTION CONTROLS AGAINST ANY AND ALL OTHER PROVISIONS OF THIS AGREEMENT.

  • Limitation of Benefits (a) Anything in this Agreement to the contrary notwithstanding, in the event it shall be determined that any benefit, payment or distribution by the Company or any of its direct and/or indirect subsidiaries to or for the benefit of Employee (whether paid or payable or distributed or distributable pursuant to the terms of this Agreement or otherwise, but determined without regard to any additional payments required under this Section 18) (such benefits, payments or distributions are hereinafter referred to as “Payments”) would, if paid, be subject to the excise tax imposed by Section 4999 of the Code (the “Excise Tax”), then, prior to the making of any Payments to Employee, a calculation shall be made comparing (i) the net after-tax benefit to Employee of the Payments after payment by Employee of the Excise Tax, to (ii) the net after-tax benefit to Employee if the Payments had been limited to the extent necessary to avoid being subject to the Excise Tax. If the amount calculated under (i) above is less than the amount calculated under (ii) above, then the Payments shall be limited to the extent necessary to avoid being subject to the Excise Tax (the “Reduced Amount”). The reduction of the Payments due hereunder, if applicable, shall be made by first reducing cash Payments and then, to the extent necessary, reducing those Payments having the next highest ratio of Parachute Value to actual present value of such Payments as of the date of the change of control, as determined by the Determination Firm (as defined in Section 18(b) below). For purposes of this Section 18, present value shall be determined in accordance with Section 280G(d)(4) of the Code. For purposes of this Section 18, the “Parachute Value” of a Payment means the present value as of the date of the change of control of the portion of such Payment that constitutes a “parachute payment” under Section 280G(b)(2) of the Code, as determined by the Determination Firm for purposes of determining whether and to what extent the Excise Tax will apply to such Payment. (b) All determinations required to be made under this Section 18, including whether an Excise Tax would otherwise be imposed, whether the Payments shall be reduced, the amount of the Reduced Amount, and the assumptions to be used in arriving at such determinations, shall be made by an independent, nationally recognized accounting firm or compensation consulting firm mutually acceptable to the Company and Employee (the “Determination Firm”) which shall provide detailed supporting calculations both to the Company and Employee. All fees and expenses of the Determination Firm shall be borne solely by the Company. Any determination by the Determination Firm shall be binding upon the Company and Employee. As a result of the uncertainty in the application of Section 4999 of the Code at the time of the initial determination by the Determination Firm hereunder, it is possible that Payments hereunder will have been unnecessarily limited by this Section 18 (“Underpayment”), consistent with the calculations required to be made hereunder. The Determination Firm shall determine the amount of the Underpayment that has occurred and any such Underpayment shall be promptly paid by the Company to or for the benefit of Employee, but no later than March 15 of the year after the year in which the Underpayment is determined to exist, which is when the legally binding right to such Underpayment arises.