Accrual and accrual directed classes Sample Clauses

Accrual and accrual directed classes. The following table lists the accrual classes and their accrual directed classes. While an accrual class may receive principal distributions prior to the subordination depletion date, an accrual class will not receive current interest distributions prior to the earlier of its accrual termination day or the subordination depletion date. On each such prior distribution day, before interest is distributed to the accrual classes IA-13 and IA-14, first, interest that is accrued on the principal balance of the accrual class IA-13 will be redirected to the accrual directed classes IA-3 and IA-12 in proportion to their principal balances until their aggregate principal balance is reduced to their aggregate targeted balance for that distribution day, and any remaining interest on class IA-13 will be redirected to class IA-13 itself, and second, interest that is accrued on the principal balance of the accrual class IA-14 will be redirected to the accrual directed classes IA-3 and IA-12 in proportion to their principal balances until their aggregate principal balance is reduced to their aggregate targeted balance for that distribution day, and any remaining interest on class IA-14 will be redirected · to class IA-13 until its principal balance is reduced to zero, and then · to classes IA-3 and IA-12 in proportion to their principal balances and without regard to their aggregate targeted balance until their principal balances are reduced to zero. If on a distribution day before an accrual class’s accrual termination day, the accrual class’s interest distribution exceeds the aggregate principal balances of its accrual directed classes, then · only that portion of the accrual class’s interest distribution that equals the aggregate principal balances of its accrual directed classes will be redirected to the accrual directed classes, and · the excess will be distributed as principal to the accrual class itself. If interest distributions on multiple accrual classes are directed to the same accrual directed classes, then on the last distribution day before those accrual classes’ accrual termination day, the redirected portion of the interest distribution for each such accrual class will be in proportion to the principal balances of such accrual classes on the day before the distribution day.
Sample 1
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Related to Accrual and accrual directed classes

  • Vacation Accrual Rates Laid off employees who are re-employed shall have the vacation accrual rate they held immediately prior to layoff restored.

  • Interest Accrual Each Class of Notes will accrue interest on its Note Balance for each Interest Period until the Note Balance has been paid in full at a rate per annum equal to its Note Interest Rate for that Interest Period. Interest on the Class A-1 and Class A-2b Notes will be calculated for each Interest Period on the basis of the actual number of days in the Interest Period and a 360-day year. Interest on the Notes (other than the Class A-1 and Class A-2b Notes) for each Interest Period will be calculated on the basis of a 360-day year consisting of twelve 30-day months. Interest on each Note for each Interest Period will be due and payable on the related Payment Date.

  • Vacation Accrual Regular employees shall accrue hours of vacation with pay for each hour of compensation to a maximum of eighty (80) hours per biweekly work period according to the following schedule, commencing with the employee's hire date of his latest period of County employment.

  • Leave Accrual After the first 30 days of active military service in any one calendar year, employees shall not accrue City-paid vacation, holiday, or sick leave benefits or other forms of paid leave; provided, however, that any public employee on military leave for intermittent training periods shall continue to accrue the same vacation, sick, and holiday leave up to a maximum period of 180 cumulative days per calendar year as if the employee had not been on military leave.

  • Share Class Annual Compensation Rate Class R-1 1.00% Class R-2 0.75% Class R-2E 0.60% Class R-3 0.50% Class R-4 0.25% Class R-5 No compensation paid Class R-5E No compensation paid Class R-6 No compensation paid If you hold Plan accounts in an omnibus account (i.e., multiple Plans in one account on the books of the Funds), Plans that are added to the omnibus account after May 15, 2002 may invest only in R shares, and you must execute an Omnibus Addendum to the Selling Group Agreement, which you can obtain by calling our Home Office Service Team at 800/421-5475, extension 8.

  • Maximum Accrual Vacation credit may be accumulated to a maximum that can be earned in four (4) years. Further accumulation will not continue when the maximum is reached. When an employee’s vacation reaches the maximum level, and if the employee has been denied vacation during the twelve (12) months, the employee will be paid for the time denied but no more than eighty (80) hours in a pay period. 80 hours 320 hours 120 hours 480 hours 160 hours 640 hours 180 hours 720 hours 200 hours 800 hours 240 hours 960 hours

  • Original Class A Percentage The Original Class A Percentage is 96.09547893%

  • Seniority Accrual All paid leaves shall be treated as continuous employment for the purposes of seniority accrual. Unpaid leaves shall be treated as continuous employment for the purposes of seniority accrual for the duration of the leave, except for movement up the salary increment scale.

  • Vacation Leave Accrual Rate Schedule Full Years of Service Hours Per Year

  • Determination of Amount Outstanding On each Quarterly Date and, in addition, promptly upon the receipt by the Administrative Agent of a Currency Valuation Notice (as defined below), the Administrative Agent shall determine the aggregate Revolving Multicurrency Credit Exposure. For the purpose of this determination, the outstanding principal amount of any Loan that is denominated in any Foreign Currency shall be deemed to be the Dollar Equivalent of the amount in the Foreign Currency of such Loan, determined as of such Quarterly Date or, in the case of a Currency Valuation Notice received by the Administrative Agent prior to 11:00 a.m., New York City time, on a Business Day, on such Business Day or, in the case of a Currency Valuation Notice otherwise received, on the first Business Day after such Currency Valuation Notice is received. Upon making such determination, the Administrative Agent shall promptly notify the Multicurrency Lenders and the Borrower thereof.

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