Accrual and Rates Sample Clauses

Accrual and Rates. Cashable paid annual leave for all regular and temporary employees shall accrue as follows:
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Related to Accrual and Rates

  • Accrual Rates All eligible employees shall accrue vacation pay according to the following rates:

  • Accrual Rate Compensatory time for employees will accrue at the rate of one and one-half hours for each one hour of overtime worked.

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

  • Accrual and Payment of Interest Interest shall accrue from and including the date of any Borrowing to but excluding the date of any prepayment or repayment thereof and shall be payable by the Borrower on a joint and several basis: (i) in respect of each Base Rate Loan, quarterly in arrears on the last Business Day of each March, June, September and December (ii) in respect of each Eurodollar Loan, on the last day of each Interest Period applicable thereto and, in the case of an Interest Period in excess of three months, on the dates that are successively three months after the commencement of such Interest Period; (iii) in respect of any Swing Loan, on the Swing Loan Maturity Date applicable thereto; and (iv) in respect of all Loans, other than Revolving Loans accruing interest at the Base Rate, on any repayment, prepayment or Conversion (on the amount repaid, prepaid or Converted), at maturity (whether by acceleration or otherwise), and, after such maturity or, in the case of any interest payable pursuant to Section 2.11(c), on demand.

  • Accrual of Interest Each Note will accrue interest at a rate per annum equal to 3.50% (the “Stated Interest”), plus any Additional Interest and Special Interest that may accrue pursuant to Sections 3.04 and 7.03, respectively. Stated Interest on each Note will (i) accrue from, and including, the most recent date to which Stated Interest has been paid or duly provided for (or, if no Stated Interest has theretofore been paid or duly provided for, the date set forth in the certificate representing such Note as the date from, and including, which Stated Interest will begin to accrue in such circumstance) to, but excluding, the date of payment of such Stated Interest; and (ii) be, subject to Sections 4.02(D), 4.03(E) and 5.02(D) (but without duplication of any payment of interest), payable semi-annually in arrears on each Interest Payment Date, beginning on the first Interest Payment Date set forth in the certificate representing such Note, to the Holder of such Note as of the Close of Business on the immediately preceding Regular Record Date. Stated Interest, and, if applicable, Additional Interest and Special Interest, on the Notes will be computed on the basis of a 360-day year comprised of twelve 30-day months.

  • 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.

  • SALARY RATES Section 12.1 The following shall apply to full-time employees including so called TPL A and B: A. Effective the first full pay period of July, 2017, employees who meet the eligibility criteria provided in Section 2 of this Article shall receive a one percent (1%) increase in salary rate. B. Effective the first full pay period of July, 2017, employees who meet the eligibility criteria provided in Section 2 of this Article shall receive an additional one percent (1%) increase in salary rate due to the realization of the FY’18 tax revenue trigger threshold. C. Effective the first full pay period of July, 2018, employees who meet the eligibility criteria provided in Section 2 of this Article shall receive a two percent (2%) increase in salary rate. D. Effective the first full pay period of July, 2019, employees who meet the eligibility criteria provided in Section 2 of this Article shall receive a two percent (2%) increase in salary rate. Section 12.2 Employees who receive a "Below" rating on their annual EPRS evaluation shall not be eligible to receive the salary increases provided in Section 1 of this Article, nor any step increases. Employees who receive a "Below" rating will have their performance reviewed on a monthly basis in accordance with Article 24A of this Agreement and will become eligible for the salary and step rate increase previously denied effective upon the date of receiving a "Meets" or "Exceeds" rating. Section 12.3 The salary rate for new employees hired, reinstated or re-employed on or after July 1, 1990 shall be Step 1 for the job group of his/her position except in cases where a new employee is hired by a Department/Agency at a salary rate, approved by the Chief Human Resources Officer, above Step 1. However, new employees shall not be recruited into Unit 3 positions without the prior written agreement of the Union. A. Under the terms of this Agreement, an employee shall advance to the next higher salary step in his/her job group until the maximum salary rate is reached, unless he/she is denied such step rate by his/her Appointing Authority. An employee shall progress from one step to the next higher step after each fifty-two (52) weeks of creditable service in a step commencing from the first day of the payroll period immediately following his/her anniversary date. B. In the event an employee is denied a step rate increase by his/her Appointing Authority, he/she shall be given a written statement of reasons therefore not later than five (5) days preceding the date when the increase would otherwise have taken effect. Time off the payroll is not creditable service for the purpose of step rate increases. Section 12.5 Whenever an employee paid in accordance with the salary schedules provided in Appendix A of this Agreement receives a promotion to a higher job group, the employee's new salary rate shall be calculated as follows: 1. For employees who are below the maximum step within their current job: a. Determine the employee’s current salary rate and step within his/her current job group; then b. Find the salary rate of the next higher step within the employee’s current job group; and c. Multiply the employee’s current salary rate by one and three one- hundredths (1.03); then d. Compare the higher of the resultant amounts from b) or c) above to the salary rates for the higher job group into which the employee is being promoted. e. The employee’s salary rate shall be the first rate in the higher job group that at least equals the higher of the resultant amounts from d) above. f. In the event the application of the above formula results in a salary that is less than the amount the employee would receive had he/she been promoted to the next lower grade, the employee’s salary upon promotion shall be increased to the next higher step in the grade the employee is being promoted into. 2. For employees who are at the maximum step within their current job: a. Determine the employee’s current salary rate and step within his/her current job group; then, b. Multiply the employee’s current salary rate by one and three one- hundredths (1.03); then, c. Compare the resultant amount from b) above to the salary rates for the higher job group into which the employee is being promoted. d. The employee’s salary rate shall be the first rate in the higher job group that at least equals the resultant amount from c) above. A. Salary rates of full time employees are set forth in Appendix A of this Agreement, which is attached hereto and is hereby made a part of this Agreement. B. The salary rates set forth in Appendix A shall remain in effect during the term of this agreement. Salary rates shall not be increased or decreased except in accordance with the provisions of this Agreement. C. Employees shall be compensated on the basis of the salary rate for their official job classification. Section 12.7 A regular part-time employee shall be entitled to the provisions of this Article in the proportion that his/her service bears to full-time service. A. An employee entering a position within a bargaining unit covered by this Agreement from a position in an equivalent salary grade in a bargaining unit not covered by this Agreement shall be placed at the first step-in-grade up to the maximum of the grade, which at least equals the rate of compensation received immediately prior to his/her entry into the bargaining unit.

  • Computation of Interest, Fees, Yield Protection All interest, as well as fees and other charges calculated on a per annum basis, shall be computed for the actual days elapsed, based on a year of 360 days. Each determination by Agent of any interest, fees or interest rate hereunder shall be final, conclusive and binding for all purposes, absent manifest error. All fees shall be fully earned when due and shall not be subject to rebate, refund or proration. All fees payable under Section 3.2 are compensation for services and are not, and shall not be deemed to be, interest or any other charge for the use, forbearance or detention of money. A certificate as to amounts payable by Borrowers under Section 3.4, 3.6, 3.7, 3.9 or 5.9, submitted to Borrower Agent by Agent or the affected Lender, as applicable, shall be final, conclusive and binding for all purposes, absent manifest error, and Borrowers shall pay such amounts to the appropriate party within 10 days following receipt of the certificate.

  • Accrual of Seniority Seniority shall accrue during: (a) the first one hundred and nineteen (119) calendar days of sick leave including time on E.I. sick benefit or Income Replacement Benefits under the Automobile Insurance Act; (b) unpaid leaves of absence up to and including one hundred and sixty-eight (168) work hours in a calendar year; (c) hours absent while receiving benefits from the Worker’s Compensation Board; (d) temporary positions, out-of-scope of any union, with the Employer not to exceed twelve (12) months unless extended by mutual agreement with the union; (e) bereavement leave, pressing necessity leave, family responsibility leave, medical care leave; (f) jury duty and court service; (g) vacation leave; (h) leave for elected Public Office; (i) union leave; (j) all maternity/paternity/adoption/parental leave; (k) education leave up to twenty-four (24) months. (l) Long-term disability or Income Replacement Benefits under the Automobile Insurance Act. (m) If an Employee’s hours of work are reduced due to a disability, full-time Employees shall maintain their pre- disability accrual rate. Other than full-time Employees shall accrue seniority as follows: (i) For those who have worked one (1) year or more: Paid Hours in Previous 52 Weeks = Seniority Hours Per 52 Week of Leave (ii) For other than full-time Employees who have worked for less than one (1) year:

  • CLASSIFICATIONS AND RATES OF PAY ‌ 4.1 The classifications of employees covered under this Agreement and the corresponding rates of pay are set forth within Appendix “A” which is attached hereto and made a part of this Agreement. 4.2 Effective December 26, 2018,wages will be increased by .5% plus 100% of the annual average growth rate of the bi-monthly Seattle-Tacoma-Bellevue Area Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W) for the period June 2016 through June 2017 to the period June 2017 through June 2018, minimum 1.5% maximum 4%. 4.2.1 Effective December 25, 2019, wages will be increased by 1% plus 100% of the annual average growth rate of the bi-monthly Seattle-Tacoma-Bellevue Area Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W) for the period June 2017 through June 2018 to the period June 2018 through June 2019, minimum 1.5%, maximum 4%. 4.2.2 Effective January 6, 2021, wages will be increased by 1% plus 100% of the annual average growth rate of the bi-monthly Seattle-Tacoma-Bellevue Area Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W) for the period June 2018 through June 2019 to the period June 2019 through June 2020, minimum 1.5%, maximum 4%. 4.2.3 The base wage rates referenced above will be calculated by applying the appropriate percentage increase to base hourly rates or as otherwise provided for herein. The rates in each Appendix are understood to be illustrative of the increases provided in Articles

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