For Multi-Year Projects Clause Samples

For Multi-Year Projects. First payments 1.2.2.1 a first payment representing eighty percent (80%) of Canada’s financial contribution shall be made after the project is approved by Canada; 1.2.2.2 for subsequent fiscal years, a first payment representing eighty percent (80%) of Canada’s financial contribution shall be made following the production, if necessary, of an updated addendum to the action plan (Schedule 3) and provided that the requirements for previous payments have been met; 1.2.2.3 for each fiscal year, a second and final payment not exceeding the balance of Canada’s financial contribution for that fiscal year shall be made following the production of an annual report for the fiscal year in question.
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For Multi-Year Projects. First payments 5.2.1 for the first fiscal year, a first payment representing half (50%) of Canada’s financial contribution for the fiscal year in question shall be made following approval of the project by Canada and the environmental assessment, if applicable, or the document indicating that an environmental assessment is not required; 5.2.2 for subsequent fiscal years, a first payment representing half (50%) of Canada’s financial contribution shall be made following the production, if necessary, of an update on the project and provided that the requirements for previous payments have been met; 5.2.3 for the first fiscal year, a second and final payment, not exceeding the balance of Canada’s financial contribution for that fiscal year, shall be made following the production of: 5.2.3.1 an interim financial statement for the fiscal year in question; and 5.2.3.2 a work progress report for the fiscal year in question; 5.2.4 for each subsequent fiscal year excluding the final fiscal year, a second and final payment, not exceeding the balance of Canada’s financial contribution for that fiscal year, shall be made following the production of: 5.2.4.1 a final financial statement for the previous fiscal year; 5.2.4.2 an interim financial statement for the fiscal year in question; and 5.2.4.3 a work progress report for the fiscal year in question; 5.2.5 for the final fiscal year, a second payment representing thirty percent (30%) of Canada’s financial contribution for the fiscal year in question shall be made following the production of: 5.2.5.1 a final financial statement for the previous fiscal year; 5.2.5.2 an interim financial statement for the fiscal year in question; and 5.2.5.3 a work progress report for the fiscal year in question; Third and final payment (final fiscal year) 5.2.6 for the final fiscal year, a third and final payment, not exceeding the balance of Canada’s financial contribution, shall be made following the production of: 5.2.6.1 a final activity report for the fiscal year in question; 5.2.6.2 a final financial statement for the fiscal year in question; and 5.2.6.3 where applicable, confirmation of environmental mitigation measures.
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Related to For Multi-Year Projects

  • Multi-Year Planning The CAPS will be in a form acceptable to the LHIN and may be required to incorporate (1) prudent multi-year financial forecasts; (2) plans for the achievement of performance targets; and (3) realistic risk management strategies. It will be aligned with the LHIN’s then current Integrated Health Service Plan and will reflect local LHIN priorities and initiatives. If the LHIN has provided multi-year planning targets for the HSP, the CAPS will reflect the planning targets.

  • Adjustment of Minimum Quarterly Distribution and Target Distribution Levels (a) The Minimum Quarterly Distribution, First Target Distribution, Second Target Distribution, Third Target Distribution, Common Unit Arrearages and Cumulative Common Unit Arrearages shall be proportionately adjusted in the event of any distribution, combination or subdivision (whether effected by a distribution payable in Units or otherwise) of Units or other Partnership Securities in accordance with Section 5.10. In the event of a distribution of Available Cash that is deemed to be from Capital Surplus, the then applicable Minimum Quarterly Distribution, First Target Distribution, Second Target Distribution and Third Target Distribution, shall be adjusted proportionately downward to equal the product obtained by multiplying the otherwise applicable Minimum Quarterly Distribution, First Target Distribution, Second Target Distribution and Third Target Distribution, as the case may be, by a fraction of which the numerator is the Unrecovered Capital of the Common Units immediately after giving effect to such distribution and of which the denominator is the Unrecovered Capital of the Common Units immediately prior to giving effect to such distribution. (b) The Minimum Quarterly Distribution, First Target Distribution, Second Target Distribution and Third Target Distribution, shall also be subject to adjustment pursuant to Section 6.9.

  • Multi-year Planning Targets Schedule A may reflect an allocation for the first Funding Year of this Agreement as well as planning targets for up to two additional years, consistent with the term of this Agreement. In such an event, the HSP acknowledges that if it is provided with planning targets, these targets: a. are targets only, b. are provided solely for the purposes of planning, c. are subject to confirmation, and d. may be changed at the discretion of the Funder in consultation with the HSP. The HSP will proactively manage the risks associated with multi-year planning and the potential changes to the planning targets; and the Funder agrees that it will communicate any changes to the planning targets as soon as reasonably possible.

  • Work Year The full-time work year for all employees employed in EA and ECE job classes shall be a minimum of 194 work days to correspond with the school year calendar.

  • Development Period The Contractor may commence pre-construction activities like utility shifting, boundary wall construction or any other activity assigned to the Contractor by the Authority to enable construction of the Project Highway immediately after signing of the Agreement, to the extent that such work is ready for execution. The Parties agree that these works may be taken up and completed to the extent feasible by the Contractor, before declaration of the Appointed Date, but no claim against the Authority for delay shall survive during this period and that the undertaking of these works by the Contractor shall not count towards the Scheduled Construction Period of the project which starts counting only from the Appointed Date. No construction activity of the Project Highway shall be undertaken during the development period.