Mitigation Fund Clause Samples

A Mitigation Fund clause establishes a dedicated pool of resources, typically financial, to address and manage the impacts of certain risks or adverse events identified in an agreement. This fund is usually contributed to by one or more parties and is used to cover costs associated with mitigating damages, such as environmental harm, project delays, or regulatory penalties. By setting aside these resources in advance, the clause ensures that there are sufficient means to respond promptly and effectively to unforeseen issues, thereby reducing uncertainty and allocating risk in a structured manner.
Mitigation Fund. PacifiCorp shall establish a Mitigation Fund, prior to making the first deposit under Section 19.3.3, to be administered by the USDA-FS for the purpose of offsetting adverse impacts to aquatic, terrestrial, and other natural resources caused by the Project and not otherwise mitigated for in Sections 4 through 18 of this Agreement. The Fund will be used to mitigate or compensate for Project impacts to wetlands and stillwater amphibian habitat, riparian and aquatic species connectivity, vegetation management, terrestrial species connectivity, and soil loss and soil productivity resulting in erosion. When deciding how the funds will be expended to address these impacts, the USDA-FS shall consult with the Parties, fully engage the public, and fully consider all public comment throughout the NEPA environmental analysis process for each undertaking. The Mitigation Fund shall be used to implement mitigation and enhancement measures on National Forest System lands and BLM-administered lands within the North Umpqua basin.
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Mitigation Fund. Twenty-five percent (25%) of the Overall Maximum Savings in Year 1 shall be allocated as the Mitigation Fund. Maximum Overall Savings is defined as the difference between the FY19 Overall Budget for the in force plan design medical insurance (City Side and Employee Side) and the FY 19 Overall Budget for the proposed plan design medical insurance (City Side and Employee Side). The calculation of the Overall Budgets will be based upon the plan selections made by the Active Enrollees and Early Retirees in Non-Medicare Eligible plans as of July 1, 2018, the contribution percentages in force as of July 1, 2018, and the FY19 rates as quoted by the Massachusetts Interlocal Insurance Association. It is presently estimated that the amount of the Mitigation Fund will be $1,265,908.
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Mitigation Fund. Without limiting the obligations imposed by Section 3.1, the Port further agrees that it will include within the scope of its agreement with the cruise terminal operator a fund of not less than two hundred fifty thousand dollars ($250,000.00) for mitigation measures specifically requested by the Port to either: (I) permit Event Activities to occur in the ▇▇▇▇ Street Cruise Terminal Lease Area notwithstanding the redevelopment of the ▇▇▇▇ Street Cruise Terminal or (ii) reduce the impact of the redevelopment on the adjoining ▇▇▇▇ Harbor International Conference Center. The Port agrees that it will reasonably consult with Manager regarding the application of the mitigation fund in an attempt to maximize the benefit to the Facility and Manager’s operations from these funds. Amounts spent from the mitigation fund shall not, however, be an Operating Expense.
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Mitigation Fund. The State shall provide and administer funding in the amount of $500,000 to be used as described in Article 9.6. When the fund balance reaches $50,000 or below, the Parties agree to support a request to the New Mexico State Legislature to replenish the fund by at least $500,000. The State assumes no obligation to replenish the funds once the funds are fully expended.
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Mitigation Fund. The Program Administrator will oversee the Mitigation Fund, which will cover unpaid rent and damages by tenants housed under this program up to $2,000 per household. The Mitigation Fund will also provide financial incentives for Landlords that allocate property to the program. Eligible costs include1: Holding fee of up to one month of rent to cover time for property inspection, etc. Unpaid back rent owed by the tenant. Reimbursement for repairs made to the unit due to damage caused by the tenant. Court fees and court costs associated with a summary process action or other action to enforce Landlord’s rights under the lease agreement. Court and storage fees associated with levying on an execution for Possession. An insurance deductible for covered damages. The following costs or losses are not included: Normal wear and tear (See Appendix I). Normal turnover costs.
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Mitigation Fund. This approach consists of utilizing a Mitigation Fund to be used after efforts to avoid or minimize adverse effects have been exhausted; the Mitigation Fund would not be used in lieu of avoidance or minimization measures. The Mitigation Fund may be property-specific or be of a scale to resolve adverse effects across multiple properties with a single mitigative activity. A lessee may work with BOEM, SHPOs, Tribes, and consulting parties during the Section 106 process to determine if this approach is applicable and to develop the process for implementation and specific uses of the fund. APPENDIX V – MEMORANDUM OF AGREEMENT TEMPLATE‌ MEMORANDUM OF AGREEMENT TEMPLATE‌ This appendix provides an example of the contents for a Memorandum of Agreement (MOA) that may be developed to resolve adverse effects for offshore wind projects. The sample stipulations are examples and may not account for all effects on all types of historic properties. All project-specific MOAs will be developed through consultation.
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Mitigation Fund. Before the Tribe begins construction of the proposed off-site storm drainage facility, it will establish an escrow account in which it will deposit the money to pay for projected mitigation associated with the storm water facilities. This amount will be equivalent to that which would be required of a private developer seeking to construct the same improvement. Once all improvements are made and mitigation measures fully implemented, should the project be approved following CEQA compliance, any unused or residual funds will be returned to the Tribe.
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Mitigation Fund 
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Related to Mitigation Fund

  • Education Fund Full-Time and Part-Time 27.01 If the Local Union indicates to the Hospital that a special assessment of $0.03 per hour for Union education applies to all bargaining unit members, the Hospital agrees to deduct this assessment. Such assessment along with a listing of employees will be paid on a quarterly basis into a trust fund established and administered by the applicable SEIU Local Union for this purpose.

  • Superannuation fund Unless, to comply with superannuation legislation, the employer is required to make the superannuation contributions provided for in Clause 24(b) to another superannuation fund that is chosen by the employee, the employer must make the superannuation contributions provided for in Clause 24(b) and pay the amount authorised under Clauses 24(d)(i) or 24(d)(ii) to one of the following superannuation funds: (i) Health Employees Superannuation Trust of Australia (HESTA); (ii) any superannuation fund to which the employer was making superannuation contributions for the benefit of its employees before 12 September 2008, provided the superannuation fund is an eligible choice fund and is a fund that offers a MySuper product or is an exempt public sector scheme.

  • Escrow Account 27.1.1 The Concessionaire shall, prior to the Appointed Date, open and establish an Escrow Account with a Bank (the "Escrow Bank") in accordance with this Agreement read with the Escrow Agreement. 27.1.2 The nature and scope of the Escrow Account shall be fully described in the agreement (the "Escrow Agreement") to be entered into amongst the Concessionaire, the Authority, the Escrow Bank and the Senior Lenders through the Lenders' Representative, which shall be substantially in the form set forth in Schedule-S.

  • Disbursement Account 12.1 The Lender is obligated to keep the bank account information provided on the Platform up to date. The account shall be managed by a bank within the Single Euro Payment Area (hereinafter “SEPA”). 12.2 Any transfers by the Borrower to an account held by the Lender within SEPA shall not be subject to any fees.

  • Pension Fund 1. The Employer shall make contributions to a pension trust fund known as the “Building Service 32BJ Pension Fund” to cover bargaining unit employees who are regularly employed twenty (20) or more hours per week, including paid time off. The Employer shall also make contributions on behalf of other bargaining unit employees to the extent that such employees work a sufficient number of hours to require benefit accrual pursuant to Section 204 of ERISA. Employees unable to work and who are on statutory short term disability benefits or workers’ compensation shall continue to accrue pension credits without employer contributions during the periods of disability up to six (6) months or the period of disability whichever is earlier. 2. The Employer shall pay into the Fund the sum of $94.75 per week for every regular employee as defined in the Building Service Pension Plan, as it may be amended, except as provided in Section 4 hereof. 3. Effective January 1, 2015, the Employer shall pay into the Fund the sum of $98.75 per week for every regular employee. 4. If the Employer has in effect a pension and retirement plan which has been determined to provide benefits equivalent or superior to those provided under the Building Service 32BJ Pension Plan, it may continue such plan provided it continues to provide retirement benefits equivalent or superior to the benefits that are provided under the Building Service 32BJ Pension Plan during the term of this agreement, and it shall be relieved of any obligation to make payments into the Fund. 5. Any Employer who becomes party to this Agreement and who immediately prior thereto has a pension plan in effect which provides benefits equivalent to or better than the benefits provided herein, may, upon agreement of the Union and RAB, cover his/her employees under its existing plan in lieu of this Fund and be relieved of the obligation to make contributions to the Fund for the period of such other coverage. 6. In no event shall the Trustees or any of them, the Union or the RAB, directly or indirectly, by reason of this agreement, be understood to consent to the extinguishment, change or diminution of any legal rights, vested or otherwise, that anyone may have in the continuation in existing form of any such Employer pension plan, and the Trustees or any of them, the Union and the RAB shall be held harmless by an Employer against any action brought by anyone covered under such Employer’s plan asserting a claim based upon anything done pursuant to Section 5 of this Article. Notice of the pendency of any such action shall be given the Employer who may defend the action on behalf of the indemnitee. 7. The parties agree that if there is new governmental regulations issued that implement the excise tax provisions of the Pension Protection Act (PPA), or there is further governmental reform relating to the funding of pension funds, the parties shall meet to discuss what steps, if any, might be appropriate to ameliorate any adverse impact on the Funds, its participants and employers. To the extent that any employer covered by this Agreement, with respect to employees covered by this Agreement, becomes subject to the automatic employer surcharge or any excise tax, penalty, fee, increased contribution rate or other amount relating to the funding of the Pension Fund (but not including interest, liquidated damages, or other amounts owed as a consequence of failing to make timely remittance of contributions to the Pension Fund) under Sections 412 or 432 of the Internal Revenue Code, then the parties agree that the required contributions to the Health Fund, Training Fund and/or Legal Services Fund for each employer covered under this Agreement shall be reduced dollar for dollar by the aggregate amount of any additional contribution and/or surcharge amounts, excise taxes, penalties, fees or other amounts that such employer is required to pay, as provided in this subsection. Unless a different allocation among the Funds is agreed upon in advance of any applicable due date for such contributions by the Presidents of the RAB and Local 32BJ, such amount shall be allocated solely from the Health Fund.