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:
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.
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.
Accrual of Leave (a) An employee’s entitlement to paid recreation leave accrues progressively during a year of service according to the employee’s ordinary hours of work.
(b) If an employee takes unpaid leave that does not count as service, leave will not accrue for that period.
Determination of One-Month LIBOR Pursuant to the terms of the Global Agency Agreement, the Global Agent shall calculate the Class Coupons for the applicable Classes of Notes (including MAC Notes on which the Exchange Administrator has directed the Global Agent to make payments) for each Accrual Period (after the first Accrual Period) on the applicable LIBOR Adjustment Date. U.S. dollar deposits with a maturity of one month set by ICE Benchmark Administration Limited (“ICE”) as of 11:00 a.m. (London time) on the LIBOR Adjustment Date (the “ICE Method”). ICE’s Interest Settlement Rates are currently displayed on Bloomberg L.P.’s page “BBAM.” That page, or any other page that may replace page BBAM on that service or any other service that ICE nominates as the information vendor to display the ICE’s Interest Settlement Rates for deposits in U.S. dollars, is a “Designated Page.” ICE’s Interest Settlement Rates currently are rounded to five decimal places. If ICE’s Interest Settlement Rate does not appear on the Designated Page as of 11:00 a.m. (London time) on a LIBOR Adjustment Date, or if the Designated Page is not then available, One-Month LIBOR for that date will be the most recently published Interest Settlement Rate. If ICE no longer sets an Interest Settlement Rate, Xxxxxxx Mac will designate an alternative index that has performed, or that Xxxxxxx Mac (or its agent) expects to perform, in a manner substantially similar to ICE’s Interest Settlement Rate.
Accrual of Sick Leave a. A full-time employee shall accrue four (4) hours of sick leave for each biweekly pay period, or the number of hours that are directly proportionate to the number of days worked during less than a full-pay period, without limitation as to the total number of hours that may be accrued.
b. A part-time employee shall accrue sick leave at a rate directly proportionate to the percent of time employed.
c. An employee appointed under Other Personal Services (OPS) shall not accrue sick leave.
Vacation Accrual Rates Laid off employees who are re-employed shall have the vacation accrual rate they held immediately prior to layoff restored.
Accrual of Annual Leave (a) An employee shall accrue an amount of paid annual leave, for each completed 4 week period of continuous service with the employer, of 1/13 of the number of ordinary hours worked by the employee for the employer during that 4 week period.
(b) Annual leave shall accrue on a pro-rata basis and be credited to the employee monthly.
Day count convention Any interest, commission or fee accruing under a Finance Document will accrue from day to day and is calculated on the basis of the actual number of days elapsed and a year of 360 days or, in any case where the practice in the Relevant Interbank Market differs, in accordance with that market practice.
