Purpose of Incentive Clause Samples

The "Purpose of Incentive" clause defines the underlying reason or objective for providing an incentive within an agreement. It typically outlines what the incentive is intended to achieve, such as encouraging timely project completion, rewarding exceptional performance, or motivating specific behaviors from a party. By clearly stating the rationale behind the incentive, this clause helps ensure that both parties understand the intended outcome and reduces the risk of disputes over the incentive's application or interpretation.
Purpose of Incentive. Subject to the terms of the Master Agreement and this Incentive Schedule, the IESO agrees to pay the Participant the Retrofit Incentive in consideration for the Participant undertaking its obligations under the Agreement.
View SourceView Similar (4)
Purpose of Incentive. In order to induce the Company to make the Improvements, the ad valorem property tax abatement described below will be provided for the Project by the Authority and other entities, as applicable. The Authority has found and determined that the economic benefits that will inure to the County, the Authority, the School District and the State from the Project and the operation thereof and the PILOT Payments and the taxes to be paid by the Company will be equal to or greater than the benefits to be derived by the Company.
View Source
Purpose of Incentive. Subject to the terms of the Master Agreement and this Incentive Schedule, the IESO agrees to pay the Participant the Energy Manager Incentive in consideration for undertaking its obligations under the Agreement.
View Source
Purpose of Incentive. In order to induce the Company to make the Improvements, the ad valorem property tax abatement described below will be provided for the Project by the Authority and other entities, as applicable. The Authority has found and determined that the economic benefits that will inure to the County, the Authority, the School District and the State from the Project and the operation thereof and the PILOT Payments and the taxes to be paid by the Company will be equal to or greater than the benefits to be derived by the Company.
View Source

Related to Purpose of Incentive

  • Purpose of the Plan The Plan is intended to increase incentives and to encourage Share ownership on the part of (1) employees of the Company and its Affiliates, (2) consultants who provide significant services to the Company and its Affiliates, and (3) directors of the Company who are employees of neither the Company nor any Affiliate. The Plan also is intended to further the growth and profitability of the Company. The Plan is intended to permit the grant of Awards that qualify as performance-based compensation under section 162(m) of the Code.

  • Purpose of Plan The Board of each Participating Fund maintains this Deferred Compensation Plan for Independent Directors and Trustees. The purpose of the Plan is to allow the independent directors and trustees of the Participating Funds to defer receipt of all or a portion of the compensation they earn for their service to the Participating Funds in lieu of receiving current payments of such compensation, and to treat any deferred amount as though an equivalent dollar amount had been invested in shares of one or more Eligible Funds. Each Board intends that the Plan shall be maintained at all times on an unfunded basis for federal income tax purposes under the Code. The Plan is not covered by the Employee Retirement Income Security Act of 1974, as amended.

  • Purpose of DPA The purpose of this DPA is to describe the duties and responsibilities to protect Student Data including compliance with all applicable federal, state, and local privacy laws, rules, and regulations, all as may be amended from time to time. In performing these services, the Provider shall be considered a School Official with a legitimate educational interest, and performing services otherwise provided by the LEA. Provider shall be under the direct control and supervision of the LEA, with respect to its use of Student Data

  • Purpose of Grant 2.1 The Recipient shall use the Grant only for the delivery of the Project and in accordance with the terms and conditions set out in this Agreement. The Grant shall not be used for any other purpose without the prior written agreement of the Funder. 2.2 The Recipient shall not make any significant change to the Project without the Funder's prior written agreement. 2.3 Where the Recipient intends to apply to a third party for other funding for the Project, it will notify the Funder in advance of its intention to do so and, where such funding is obtained, it will provide the Funder with details of the amount and purpose of that funding. The Recipient agrees and accepts that it shall not apply for duplicate funding in respect of any part of the Project or any related administration costs that the Funder is funding in full under this Agreement.

  • Purpose of the Committee In order to ▇▇▇▇▇▇ better relations between the parties, the purpose of the Committee shall be to discuss matters of mutual concern including matters pertaining to the improvement of quality health care and safe nursing practice. The Committee shall have the power to make recommendations to the Union and to the Employer.