Base Rate Changes Sample Clauses

Base Rate Changes. Seniority Progression Increases. On the Monday immediately preceding their six (6) 32 month anniversary of the date of hire or date of the last seniority progression increase, employees 33 below the rate range maximum for their job classification shall, subject to such maximum, 1 receive a seniority progression increase to their base rate of sixty-five cents ($0.65). Employees 2 on approved leave of absence will continue to accrue time toward their next six (6) month 3 progression increase for the first ninety (90) days of the leave. Employees, recalled from layoff 4 will be credited with any time they had prior to their layoff toward their next six (6) month 5 progression increase. 6 7 No more than fourteen (14) seniority progression increase steps shall be required before an 8 employee is advanced to the top of the wage range. 9
Sample 1
AutoNDA by SimpleDocs
Base Rate Changes. (a) Seniority Progression Increases. On the Friday immediately 35 preceding their six (6)-month anniversary of the date of hire or date of 36 the last seniority progression increase, employees below the rate range 37 maximum for their labor grade shall, subject to such maximum, receive 38 a seniority progression increase to their base rate of fifty (50) cents. 39 Employees shall automatically progress to the base rate range 40 maximum upon their twelfth (12th) seniority progression increase. 41 Employees on approved leave of absence will continue to accrue time 1 toward their next six (6)-month progression increase for the first ninety 2 (90) days of the leave. Employees recalled from layoff within one (1) 3 year will be credited with any time they had prior to their layoff toward 4 their next six (6)-month progression increase. 5 6.3(b) General Wage Increases. General wage increases will be 6 granted as follows:
Sample 1
Base Rate Changes. The base rate per unit is subject to annual review and amendment by County based on any actual increases or decreases in County's cost of chemicals, labor or electricity directly used to provide service pursuant to this Agreement, while maintaining a markup over cost not to exceed $0.10 per Unit. The surcharge for quantities of potable water in excess of the first 2,941 Units or for the use of water from the County's water rights shall not exceed 16% over the newly established base rate. County shall provide to Redwood Xxxx thirty days' advance notice of any proposed increases.
Sample 1
Base Rate Changes. (a) Seniority Progression Increases. On the Friday immediately 32 preceding their six (6)-month anniversary of the date of hire or date of 33 the last seniority progression increase, employees below the rate range 34 maximum for their labor grade shall, subject to such maximum, receive 35 a seniority progression increase to their base rate of fifty (50) cents. 36 Employees shall automatically progress to the base rate range 37 maximum upon their twelfth (12th) seniority progression increase. 38 Seniority progression increases shall accumulate towards the 39 progression to maximum rate, irrespective of the labor grade or job 1 classification in which seniority progression was earned. Employees on 2 approved leave of absence will continue to accrue time toward their next 3 six (6)-month progression increase for the first ninety (90) days of the 4 leave. Employees recalled from layoff within one (1) year will be 5 credited with any time they had prior to their layoff toward their next 6 six (6)-month progression increase.
Sample 1
Base Rate Changes base rates for Tier I and Tier II employees will be set quarterly based on the employee’s results in the preceding quarter, using the following point system, and will remain at the set rate for a period of three (3) months. See Tables below: Unsatisfactory 0 Point Threshold 1 Point Standard 2 Points Premier 3 Points Gold Level 7 – 9 Points Silver Level 4 – 6 Points Base Level 0 – 3 Points Standard (2) Premier (3) Premier (3) Gold (8) Standard (2) Standard (2) Threshold (1) Silver (5) Threshold (1) Premier (3) Premier (3) Gold (7) Threshold (1) Standard (2) Premier (3) Silver (6) Unsatisfactory (0) Standard (2) Standard (2) Silver (4) Unsatisfactory (0) Unsatisfactory (0) Premier (3) Base (3) Threshold (1) Unsatisfactory (0) Standard (2) Base (3) Unsatisfactory (0) Standard (2) Premier (3) Silver (5)
Sample 1
Base Rate Changes 
Sample 1Sample 2Sample 3See All (4)

Related to Base Rate Changes

  • Base Rate Option A fluctuating rate per annum (computed on the basis of a year of 365 or 366 days, as the case may be, and actual days elapsed) equal to the Base Rate plus the Applicable Margin, such interest rate to change automatically from time to time effective as of the effective date of each change in the Base Rate; or

  • Base Rate The higher of (a) the annual rate of interest announced from time to time by BKB at its head office in Boston, Massachusetts, as its "base rate" and (b) one-half of one percent (1/2%) above the Federal Funds Effective Rate. For the purposes of this definition, "Federal Funds Effective Rate" shall mean for any day, the rate per annum equal to the weighted average of the rates on overnight federal funds transactions with members of the Federal Reserve System arranged by federal funds brokers, as published for such day (or, if such day is not a Business Day, for the next preceding Business Day) by the Federal Reserve Bank of New York, or, if such rate is not so published for any day that is a Business Day, the average of the quotations for such day on such transactions received by the Agent from three funds brokers of recognized standing selected by the Agent.

  • Base Rates Attached to and made a part of this Agreement is Appendix A which sets forth the straight-time hourly rates for all employees covered by this Agreement.

  • Alternate Base Rate Loans During such periods as Revolving Loans shall be comprised of Alternate Base Rate Loans, each such Alternate Base Rate Loan shall bear interest at a per annum rate equal to the sum of the Alternate Base Rate plus the Applicable Percentage; and

  • Base Rate Advances During such periods as such Advance is a Base Rate Advance, a rate per annum equal at all times to the sum of (x) the Base Rate in effect from time to time plus (y) the Applicable Margin in effect from time to time, payable in arrears quarterly on the last day of each March, June, September and December during such periods and on the date such Base Rate Advance shall be Converted or paid in full.

  • Base Rate Loans Substituted for Affected Fixed Rate Loans If (i) the obligation of any Bank to make or to continue or convert outstanding Loans as or into Euro-Dollar Loans has been suspended pursuant to Section 8.02 or (ii) any Bank has demanded compensation under Section 8.03(a) or 8.04 with respect to its Euro-Dollar Loans and the Borrower shall, by at least five Euro-Dollar Business Days' prior notice to such Bank through the Administrative Agent, have elected that the provisions of this Section shall apply to such Bank, then, unless and until such Bank notifies the Borrower that the circumstances giving rise to such suspension or demand for compensation no longer apply: (a) all Loans which would otherwise be made by such Bank as (or continued as or converted to) Euro-Dollar Loans, as the case may be, shall instead be Base Rate Loans (on which interest and principal shall be payable contemporaneously with the related Euro-Dollar Loans of the other Banks), and (b) after each of its Euro-Dollar Loans has been repaid, all payments of principal which would otherwise be applied to repay such Loans shall be applied to repay its Base Rate Loans instead. If such Bank notifies the Borrower that the circumstances giving rise to such suspension or demand for compensation no longer exist, the principal amount of each such Base Rate Loan shall be converted into a Euro-Dollar Loan on the first day of the next succeeding Interest Period applicable to the related Euro-Dollar Loans of the other Banks.

  • Base Rate Loans During such periods as Revolving Loans shall be comprised in whole or in part of Base Rate Loans, such Base Rate Loans shall bear interest at a per annum rate equal to the Adjusted Base Rate.

  • Optional Conversion of Revolving Credit Advances The Borrower may on any Business Day, upon notice given to the Agent not later than 11:00 A.M. (New York City time) on the third Business Day prior to the date of the proposed Conversion and subject to the provisions of Sections 2.07 and 2.11(a), Convert all Revolving Credit Advances of one Type comprising the same Borrowing into Revolving Credit Advances of the other Type (it being understood that such Conversion of a Revolving Credit Advance or of its Interest Period does not constitute a repayment or prepayment of such Revolving Credit Advance); provided, however, that any Conversion of Eurodollar Rate Advances into Base Rate Advances shall be made only on the last day of an Interest Period for such Eurodollar Rate Advances, any Conversion of Base Rate Advances into Eurodollar Rate Advances shall be in an amount not less than the minimum amount specified in Section 2.02(b) and no Conversion of any Revolving Credit Advances shall result in more separate Borrowings than permitted under Section 2.02(b). Each such notice of a Conversion shall be substantially in the form of Exhibit H hereto, and shall, within the restrictions specified above, specify (i) the date of such Conversion, (ii) the Revolving Credit Advances to be Converted, and (iii) if such Conversion is into Eurodollar Rate Advances, the duration of the initial Interest Period for each such Eurodollar Rate Advance. Each notice of Conversion shall be irrevocable and binding on the Borrower.

  • Base Rate Loans Substituted for Affected Euro-Dollar Loans If (a) the obligation of any Lender to make or maintain, or to convert outstanding Loans to, Euro-Dollar Loans has been suspended pursuant to Section 2.15 or (b) any Lender has demanded compensation under Section 2.16(a) with respect to its Euro-Dollar Loans and, in any such case, the Borrower shall, by at least four Business Days’ prior notice to such Lender through the Administrative Agent, have elected that the provisions of this Section shall apply to such Lender, then, unless and until such Lender notifies the Borrower that the circumstances giving rise to such suspension or demand for compensation no longer apply: (i) all Loans which would otherwise be made by such Lender as (or continued as or converted into) Euro-Dollar Loans shall instead be Base Rate Loans (on which interest and principal shall be payable contemporaneously with the related Euro-Dollar Loans of the other Lenders); and (ii) after each of its Euro-Dollar Loans has been repaid, all payments of principal that would otherwise be applied to repay such Loans shall instead be applied to repay its Base Rate Loans. If such Lender notifies the Borrower that the circumstances giving rise to such notice no longer apply, the principal amount of each such Base Rate Loan shall be converted into a Euro-Dollar Loan on the first day of the next succeeding Interest Period applicable to the related Euro-Dollar Loans of the other Lenders.

  • Interest Rate Options The Borrower shall pay interest in respect of the outstanding unpaid principal amount of the Loans as selected by it from the Base Rate Option or LIBOR Rate Option set forth below applicable to the Loans, it being understood that, subject to the provisions of this Agreement, the Borrower may select different Interest Rate Options and different Interest Periods to apply simultaneously to the Loans comprising different Borrowing Tranches and may convert to or renew one or more Interest Rate Options with respect to all or any portion of the Loans comprising any Borrowing Tranche; provided that (i) there shall not be at any one time outstanding more than ten (10) Borrowing Tranches in the aggregate among all of the Loans and (ii) if an Event of Default or Potential Default exists and is continuing, the Borrower may not request, convert to, or renew the LIBOR Rate Option for any Loans and the Required Lenders may demand that all existing Borrowing Tranches bearing interest under the LIBOR Rate Option shall be converted immediately to the Base Rate Option, subject to the obligation of the Borrower to pay any indemnity under Section 5.9 [Indemnity] in connection with such conversion. If at any time the designated rate applicable to any Loan made by any Lender exceeds such Lender’s highest lawful rate, the rate of interest on such Lender’s Loan shall be limited to such Lender’s highest lawful rate.

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!