Approval and Reporting Clause Samples
Approval and Reporting. The Parties agree that this Agreement shall not be effective until it is approved by the Receivership Court and should the Receivership Court not approve this Agreement, it shall automatically terminate and be of no force and effect as of the date of such non-confirmation. The approval of the Receivership Court may be a general approval for the Receiver to enter into agreements to commute reinsurance agreements, and need not be a specific approval of this agreement. Notwithstanding the reporting provisions of the Reinsurance Agreements, the Parties further agree that the Reinsured shall have no reporting obligations after the date set forth in the first paragraph of this Agreement. Futhermore the Parties agree that this Agreement shall not be effective until is approved by (a) the requisite Holders of the 13% Senior 1st and 2nd Lien Notes issued by WMI Holdings Corp. on ▇▇▇▇▇ ▇▇, ▇▇▇▇, (▇) the requisite Lenders of the WMI Holdings Corp. Financing Agreement dated March 19, 2012, and (c) the State of Hawaii Insurance Department, and if one or more of these entities or groups do not approve, the Agreement shall automatically terminate and be of no force and effect as of the date of such non-approval.
Approval and Reporting. Trade time is between employees and is not tracked by Metro Communications Agency. However, the Shift Supervisor must be notified of all time trades.
a) Shift employees shall have the right to trade shifts with the approval of the Shift Supervisor as long as the change does not interfere with the normal operation of the Employer. A time trade between shift employees of different classifications shall be allowed at the sole discretion of the Director or designee. The Employer retains authority to grant or deny a time trade.
b) A time trade must be scheduled at least 48 hours in advance of the first trade and must be repaid within three (3) months of the original trade.
c) One Two operators per shift may be allowed off on time trade when another operator is off on scheduled leave. Two operators per shift shall be allowed off on a time trade in the same workday provided there is no other scheduled leave on that day. The number of employees on time trade per shift in the same workday may be adjusted at the discretion of the Director. Failure to report to work or a desire to cancel a time trade after being approved by the Employer will require the time trader to find their own replacement or notify the originally scheduled employee. The obligation to fulfill the work on a regularly scheduled shift remains with the employee who agreed to work the shift as a time trade. Metro Communications Agency will not reimburse employees for trade time not paid back. Communications Operators who are eligible for Training Special Duty and who are assigned a recruit will be allowed to trade time only with Communications Operators also eligible for Training Special Duty. A time trade exceeding a period of one consecutive workweek will require the application of Article 7, Working in a Higher Classification.