Paying the Operating Compensation Sample Clauses

Paying the Operating Compensation. 7.3.1 The Air Operator will invoice its Air Services monthly after the month of service. 7.3.2 The Operating Compensation shall be based on the number of scheduled flights. The Operating Compensation shall be reduced for flights cancelled by the Air Operator, except if the cancellation is due to force majeure or for reasons beyond the control of the Air Operator. IATA delay codes (Appendix 10) shall be used as a rule of thumb when considering whether the delay is in beyond operators control or not. All delays shall be assessed jointly and the Buyer will decide whether the reasoning for delay entitles the Air Operator to Operating Compensation or not. The amount invoiced monthly shall be calculated by multiplying the number of one-way flights executed and for flights cancelled according to afore mentioned during the month with the unit price of a one-way flight (e.g. 50 flights * EUR XXXXX + VAT at 14%). 7.3.3 The Air Operator shall submit the invoice to the Buyer no later than on the Xth/Xth working day of the month following the services being invoiced. 7.3.4 The Operating Compensation shall be paid monthly, no later than on the xxth day of the month following the invoicing month. 7.3.5 The Air Operator shall compare the number of actual flights to the number of flights specified in the table in Appendix 3 to the Agreement. If any flights were cancelled (including flight considered cancelled as defined in para 7.3.2 above), the reasons for the cancellation(s) shall be explained to the Buyer. The report explaining the reasons for the cancellation(s) is to be appended to the invoice. 7.3.6 The Air Operator shall submit the traffic monitoring data to the representatives of the Buyer. 7.3.7 Any sanctions shall be deducted from the Operating Compensation in accordance with this Agreement and taken into account in the quarterly estimate for the issuing of a separate credit invoice. 7.3.8 In addition to the Operating Compensation paid by the Buyer, the Air Operator shall be entitled to retain revenue from ticket prices, revenue from products sold on board, cargo fees charged from third parties, advertising revenue and any other revenue gained from executing the Air Services. 7.3.9 The penalty interest for late payment shall be determined on the basis of the Finnish Interest Act (633/1982, as amended). 7.3.10 The Buyer shall due to a justified reason be entitled to withhold payment of an Operating Compensation instalment which it considers to be subject to a disp...
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Related to Paying the Operating Compensation

  • Separation Compensation In exchange for your agreement to the general release and waiver of claims and covenant not to sue set forth below and your other promises herein, the Company agrees to provide you with the following:

  • Managers Compensation Any or all Managers may receive such reasonable compensation for their services, whether in the form of salary or otherwise, with expenses, if any, as the Board may reasonably determine. Any such compensation and expense will be paid by the Member.

  • Extra Compensation The Board shall pay no fees, other than described above, to the PA/E unless authorized by the Board as follows: A. If the scope of the Project or site is changed, the Board and the PA/E shall negotiate a reasonable fee based upon the probable estimated construction cost in changing the scope of the work and the approximate percentage of the estimated construction cost which was used to negotiate this Agreement if, and, as such may be applicable. B. If the DOE or Board requires the PA/E to make major or costly changes to the Schematic, Preliminary or Construction Document Phase submittals, which changes are not caused by architectural or engineering error or oversight, the PA/E shall be paid to redesign for additional expenses in an amount agreed to by the parties. Under no circumstances will the principals of the PA/E and the principals of his consultants be paid a fee in excess of $125 per hour.

  • Termination Compensation Termination Compensation equal to two (2) times the Executive's Base Period Income shall be paid to the Executive in a single sum payment in cash on the thirtieth (30th) business day after the later of (a) the Control Change Date and (b) the date of the Executive's employment termination; provided that if at the time of the Executive's termination of employment the Executive is a Specified Employee, then payment of the Termination Compensation to the Executive shall be made on the first day of the seventh (7th) month following the Executive's employment termination.

  • Adviser’s Compensation Each Fund shall pay to the Adviser, as compensation for the Adviser’s services hereunder, a fee, determined as described in Schedule A that is attached hereto and made a part hereof. Such fee shall be computed daily and paid not less than monthly in arrears by each Fund. The method for determining net assets of a Fund for purposes hereof shall be the same as the method for determining net assets for purposes of establishing the offering and redemption prices of Fund shares as described in the Fund’s Registration Statement. In the event of termination of this Agreement, the fee provided in this Section shall be computed on the basis of the period ending on the last business day on which this Agreement is in effect subject to a pro rata adjustment based on the number of days elapsed in the current month as a percentage of the total number of days in such month.