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Advance of Equity Sample Clauses

Advance of Equity. In order to provide the employee with funds for a deposit or down payment on a residence at the new location, an advance of up to 100% of the employee’s equity (Purchase Guarantee minus encumbrances) in the residence at the former location may be loaned to the employee by Inergi. Advance of equity is interest free for employees who avail themselves of the Purchase Guarantee for 90 days for until the house is turned over to Inergi or until the closing date of the sale of the house to a third party, whichever comes first. For employees who reject the Purchase Guarantee, the advance of equity is interest free for 90 days. Repayment is as set out in the Relocation Assistance Benefits brochure.
Advance of Equity. 26.6.5.1 In order to provide the employee with funds for a deposit or down payment on a residence at the new location, an advance of up to 100% of the employee's equity (Purchase Guarantee minus encumbrances) in the employee's principal residence at the former location may be loaned to the employee by the Company. 26.6.5.2 If the employee accepts the Company purchase guarantee and sells his/her principal residence during the 90 day listing period, he/she is responsible for repaying the Advance of Equity to the Company within five working days of the closing date of the sale of the former residence. Failure to do so will activate the appropriate interest charges to the employee based on the appropriate Interest Rate Schedule (employee housing loan five-year term) in effect on the closing date of sale. It is the employee's responsibility to repay the Advance of Equity to the Company within five days of the sale of the former residence, or within 90 days from the date of issue of the Advance, whichever comes first. 26.6.5.3 An employee who rejects the Company’s Purchase Guarantee, may take advantage of the Advance of Equity option. If the former principal residence is not sold within 90 days of the date of issue, the employee must pay interest to the Company at his/her own expense commencing on the 91st day. The interest rate will be based on the appropriate Interest Rate Schedule (employee housing loan five-year term) upon the expiration of the 90-day period. It is the employee's responsibility to repay the Advance of Equity to the Company when the former residence is sold, or within 180 days (six months) from date of issue of the Advance, whichever comes first.
Advance of Equity. In order to provide the employee with funds for a deposit or down payment on a residence at the new location, an advance of up to 100% of the employee’s equity (Purchase Guarantee minus encumbrances) in the residence at the former location may be loaned to the employee by Inergi. Advance of equity is interest free for employees who avail themselves of the Purchase Guarantee for 90 days for until the house is turned over to Inergi or until the closing date of the sale of the house to a third party, whichever comes first. For employees who reject the Purchase Guarantee, the advance of equity is interest free for 90 days. Repayment is as set out in the Relocation Assistance Benefits brochure. 52 MOVING EXPENSES 52.1 Intent 52.1.1 Since Inergi has province-wide operations, employees may be required to move about the Province as part of their jobs. For clarification, relocation assistance entitlements are not limited to moves within the Province.
Advance of Equity. In order to provide the employee with funds for a deposit or down payment on a residence at the new location, an advance of up to 100% of the employee’s equity (Purchase Guarantee minus encumbrances) in the residence at the former location may be loaned to the employee by ESA. Advance of equity is interest free for employees who avail themselves of the Purchase Guarantee for 90 days or until the house is turned over to ESA or until the closing date of the sale of the house to a third party, whichever comes first. For employees who reject the Purchase Guarantee, the advance of equity is interest free for 90 days. Repayment is as set out in the Relocation Assistance Benefits brochure. 52 MOVING EXPENSES 52.1 Intent 52.1.1 Since ESA has province-wide operations, employees may be required to move about the Province as part of their jobs.
Advance of Equity. In order to provide the employee with funds for a deposit or down payment on a residence at the new location, an advance of up to 100% of the employee‟s equity (Purchase Guarantee minus encumbrances) in the residence at the former location may be loaned to the employee by AMEC NSS. Advance of equity is interest free for employees who avail themselves of the Purchase Guarantee for 90 days for until the house is turned over to AMEC NSS or until the closing date of the sale of the house to a third party, whichever comes first. For employees who reject the Purchase Guarantee, the advance of equity is interest free for 90 days. Repayment is as set out in the Relocation Assistance Benefits brochure.
Advance of Equity. In order to provide the employee with funds for a deposit or down payment on a residence at the new location, an advance of up to 100% of the employee’s equity (Purchase Guarantee minus encumbrances) in the residence at the former location may be loaned to the employee by ESA. Advance of equity is interest free for employees who avail themselves of the Purchase Guarantee for 90 days or until the house is turned over to ESA or until the closing date of the sale of the house to a third party, whichever comes first. For employees who reject the Purchase Guarantee, the advance of equity is interest free for 90 days. Repayment is as set out in the Relocation Assistance Benefits brochure. 52 MOVING EXPENSES 52.1.1 Since ESA has province‐wide operations, employees may be required to move about the Province as part of their jobs. 52.1.2 ESA recognizes that there may be a number of relatively costly expenditures associated with moving and will endeavour to ensure that such expenses will be adequately covered. 52.1.3 ESA will not assume responsibility to compensate for any upgrading in an employee's standard of living, which may take place as a result of moving. 52.1.4 The Housing Assistance Plan will apply to the employee's principal place of residence and will not cover summer cottages, commercial real estate holdings or other secondary properties.
Advance of Equity. 23.6.5.1 In order to provide the employee with funds for a deposit or down payment on a residence at the new location, an advance of up to one hundred percent (100%) of the employee's equity (Purchase Guarantee minus encumbrances) in the employee's principal residence at the former location may be loaned to the employee by the Company. 23.6.5.2 If the employee accepts the Company purchase guarantee and sells his/her principal residence during the ninety (90) day listing period, he/she is responsible for repaying the Advance of Equity to the Company within five
Advance of Equity. In order to provide the employee with funds for a deposit or down payment on a residence at the new location, an advance of up to 100% of the employee’s equity (Purchase Guarantee minus encumbrances) in the residence at the former location may be loaned to the employee by Bruce Power. Advance of equity is interest free for employees who avail themselves of the Purchase Guarantee for 90 days or until the house is turned over to Bruce Power or until the closing date of the sale of the house to a third party, whichever comes first. For employees who reject the Purchase Guarantee, the advance of equity is interest free for 90 days. Repayment is as set out in the Relocation Assistance Benefits brochure.
Advance of Equity. 23.6.5.1 In order to provide the employee with funds for a deposit or down payment on a residence at the new location, an advance of up to 100% of the employee's equity (Purchase Guarantee minus encumbrances) in the employee's principal residence at the former location may be loaned to the employee by the Company. 23.6.5.2 If the employee accepts the Company purchase guarantee and sells his/her principal residence during the 90 day listing period, he/she is responsible for repaying the Advance of Equity to the Company within five working days of the closing date of the sale of the former residence. Failure to do so will activate the appropriate interest charges to the employee based on the Treasury Division's Published Interest Rate Schedule (employee housing loan five-year term) in effect on the closing date of sale. It is the employee's responsibility to repay the Advance of Equity to the Company within five days of the sale of the former residence, or within 90 days from the date of issue of the Advance, whichever comes first. 23.6.5.3 An employee who rejects the Company’s Purchase Guarantee, may take advantage of the Advance of Equity option. If the former
Advance of Equity. House Evaluation and Guarantee Thermal Generating Station . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .