BASIC HIRE Sample Clauses

BASIC HIRE. The Charterers shall pay for the use of the vessel in accordance with the terms of this charter party a daily rate in US Dollars ($) (the "Basic Hire"), which shall be payable monthly in advance, as per the following schedule: Year Basic Hire 1 $17,400 2 $17,688 3 $17,989 2 4 $18,306 5 $18,639 Option year 1 $18,989 Option year 2 $19,356 Option year 3 $19,741 48 ADDITIONAL HIRE
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BASIC HIRE. The Charterer shall pay to the Owner, in arrears on each Payment Date through the Primary Term, an amount equal to 1.2024% of Owner's Cost (the "Primary Term Basic Hire") as adjusted on the date of each disbursement to the Charterer as agent under the Third Upgrade Agreement according to the methodology outlined on Schedule F attached hereto, and during any Extended Term, 125% of the Primary Term Basic Hire payable on each Payment Date during such Extended Term. The payment each month of the Basic Hire shall be a continuing obligation for each month during which this Charter is in effect, and no invoice for such amount need be issued to the Charterer by the Owner. The Charterer's obligation to make such payment is unconditional and absolute during the term hereof and shall not be affected by any event of force majeure or otherwise.
Sample 1
BASIC HIRE. Subject to any adjustments required by paragraphs (e) and (f) of this Section 9 and by the immediately following sentence, the Charterer hereby agrees to pay to the Owner Trustee (i) on each Payment Date during the Basic Period, Basic Hire, payable in semi-annual installments, each in an amount equal to the product of the Lessor’s Cost multiplied by the percentage listed in Schedule 2 to this Charter opposite the Relevant Payment Date, (ii) for any Renewal Period pursuant to paragraph (c) of Section 2 of this Charter, Basic Hire, payable on such dates and in such amounts as provided in such paragraph (c), and (iii) for any extension of the Charter Period pursuant to paragraph (b) of Section 2, Basic Hire, payable on the date the Vessel shall be delivered by the Charterer to the Owner Trustee pursuant to paragraph (d) of such Section 2, in an amount for each day of such extension equal to 1/180th of the average of the Basic Hire paid on Payment Dates in the Basic Period or Renewal Period, as the case may be, prior to such extension. Notwithstanding any other provisions of this Section 9 (including without limitation any adjustments made pursuant to paragraphs (e) and (f) hereof), on each Payment Date the Charterer shall pay as Basic Hire (without any deductions or offsets) to the Indenture Trustee for the account of the Owner Trustee an amount at least sufficient to pay in full any payment then required to be made on account of principal of, and interest on, the Notes then Outstanding (other than by reason of acceleration of maturity thereof). It is understood that all payments (other than Excepted Property) to be made by the Charterer under this Charter will become subject to the lien of the Indenture and to all the rights of the Indenture Trustee thereunder.
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BASIC HIRE. The Charterers shall pay for the use of the vessel in accordance with the terms of this charter party a daily rate in US Dollars ($) (the “Basic Hire”), which shall be payable monthly in advance, as per the following schedule: 1 January 5, 2006 – January 4, 2007 $19,765 2 January 5, 2007 –January 4, 2008 $20,043 3 January 5, 2008 –January 4, 2009 $20,335 Option 1 January 5, 2009 –January 4, 2010 $17,942 Option 2 January 5, 2010 –January 4, 2011 $18,264 Option 3 January 5, 2011 –July 4, 2011 $18,603 Option 4 July 5, 2011 – July 4, 2012 $21,158 Option 5 July 5, 2012 – July 4, 2013 $21,531 Additional Hire, as hereinafter defined, shall only be payable for Option Years 1-3, as defined in Clause 47 and only if such extension of the Charter is the result of the Charterer’s exercising of their option for such extension in accordance with Clause 49.
Sample 1
BASIC HIRE. The Charterers shall pay for the use of the vessel in accordance with the terms of this charter party a daily rate in US Dollars ($) (the “Basic Hire”), which shall be payable monthly in advance, as per the following schedule: 1 January [__] 2006 – January [__], 2007 $19,765 2 January [__] 2007 –January [__], 2008 $20,043 3 January [__] 2008 –January [__], 2009 $20,335 Option 1 January [__] 2009 –January [__], 2010 $17,942 Option 2 January [__] 2010 –January [__], 2011 $18,264 Option 3 January [__] 2011 –July [__], 2011 $18,603 Option 4 July [__] 2011 – July [__], 2012 $21,158 Option 5 July [__] 2012 – July [__], 2013 $21,531 Additional Hire, as hereinafter defined, shall only be payable for Option Years 1-3, as defined in Clause 47 and only if such extension of the Charter is the result of the Charterer’s exercising of their option for such extension in accordance with Clause 49.
Sample 1
BASIC HIRE. Article 9(a) of the Subcharter shall be amended by re-designating Article 9(a) as Article 9(a)(1) and adding the following new Article 9(a)
Sample 1
BASIC HIRE. The Obligor hereby agrees to pay Basic Hire with respect to the Assets during the Term thereof as set forth in this Section 7(a). (i) With respect to the Assets during the Construction Period therefor, Basic Hire shall accrue on each day and be payable (with the proceeds of a Construction Advance as described in Section 2(e)) on each Hire Payment Date during the Interim Term of the Assets. (ii) The Obligor hereby agrees to pay to the Obligee, Basic Hire for the Assets for the Basic Term with respect to all Hire Payment Dates. Such Basic Hire shall be payable in installments falling due on each Hire Payment Date in an amount equal to the Variable Hire payable with respect to the Variable Hire Periods ending on such Hire Payment Date; provided, that any amounts of Variable Hire due and payable with respect to the Assets during the Construction Period therefor may, subject to Section 2(e), be paid with the proceeds of a Construction Advance; provided, further, that notwithstanding that a Variable Hire Period may be for six (6) months, Basic Hire, including the Variable Hire payable with respect to such six-month Variable Hire Period, shall be due and payable no less frequently than each Hire Payment Date occurring three (3) months following the last day of the initial Variable Hire Period after the Base Term Commencement Date.
Sample 1
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Related to BASIC HIRE

  • Basic Work Week ‌ a) The basic work week of an employee working full- time shall be forty (40) hours consisting of five eight hour days; b) Daily hours of work shall be consecutive with the exception of rest and meal periods. No split shifts shall be worked; c) Employees shall not work longer than their regular, scheduled work day, unless requested to do so by Management; in which event, additional time will be paid at applicable regular or overtime rates. Employees are required to leave the store as soon as it is reasonable to do so.

  • Term and Maximum Compensation 1.4.1. The term of this CONTRACT is for three (3) years, commencing upon Board of Supervisor approval, with a maximum allowable compensation of one million, five hundred thousand dollars ($1,500,000), with the option to renew for two (2) additional years, with Board approval; except as permitted in Paragraph 1.5 below.

  • Basic Fee One-twelfth of the annual Basic Fee Rate for a class shall be applied to the average of the net assets of the class of the Fund (computed in the manner set forth in the Trust’s Declaration of Trust or other organizational document) determined as of the close of business on each business day throughout the month. The resulting dollar amount comprises the monthly Basic Fee for the class.

  • Basic Salary For all your services rendered under this Agreement, UO shall pay you a salary at an annual rate of no less than $450,000, or at such higher salary as may be determined by your performance review and the Executive Vice President, Human Resources, Legal & Business Affairs, UPR. Such higher salary shall subsequently be deemed the annual rate, commencing on such date as the Executive Vice President, Human Resources, Legal & Business Affairs, UPR may determine, for purposes of this Agreement.

  • 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.

  • BASIC LEASE INFORMATION The key business terms used in this Lease are defined as follows:

  • Annual Fixed Rent Tenant covenants and agrees to pay the Annual Fixed Rent in Section 1.1 to Landlord in advance in equal monthly installments commencing on the Term Commencement Date (if not the first day of a month) and thereafter on the first day of each calendar month during the Term. All payments shall be due without billing or demand and without deduction, setoff or counterclaim, except as expressly set forth in this Lease. Tenant shall make payment for any portion of a month at the beginning or end of the Term. All payments shall be payable to Landlord at Landlord’s address, as specified in Section 1.1, or to such other entities at such other places as Landlord may from time to time designate. Without limiting the foregoing, except as expressly set forth in this Lease, Tenant’s obligation so to pay Rent (as hereinafter defined) shall not be discharged or otherwise affected by any law or regulation now or hereafter applicable to the Premises, or any other restriction on Tenant’s use, or any casualty or taking, or any failure by Landlord to perform any covenant contained herein, or any other occurrence; and, except as expressly set forth in this Lease, Tenant waives all rights now or hereafter existing to terminate or cancel this Lease or quit or surrender the Premises or any part thereof, or to assert any defense in the nature of constructive eviction to any action seeking to recover Rent. The foregoing notwithstanding, if Landlord fails for any reason within Landlord’s control to provide any service to be supplied by Landlord under the Lease which is necessary for Tenant’s reasonable use of the Premises (such as HVAC, elevator service, electricity, water, or structural repairs), and Tenant is unable to use the Premises on account of such failure, Tenant shall be entitled to a proportional abatement of Annual Fixed Rent and Additional Charges for Operating Expenses and Taxes based on the portion of the Premises which cannot be used by Tenant. This abatement shall begin on the fourth (4th) consecutive Business Day from Tenant’s written notice to Landlord of the failure. The abatement shall end when the services are restored sufficiently to permit use of the Premises.

  • Vehicle Allowance Vehicle allowances for all distances travelled while on employer business shall be paid to employees required to use their own vehicles in the performance of their duties. This does not include travel to and from work. Vehicle allowance shall be 40¢ per kilometre. Vehicles driven on employer business will be in compliance with ICBC Regulations.

  • Overtime Meal Allowance Employees required to work more than two (2) hours overtime consecutive with a shift shall be provided with a meal by the Employer.

  • Hourly Rate (A) The amounts shall be computed by multiplying the appropriate hourly rates prescribed in the Agreement by the number of direct labor hours (DLH) performed. Fractional parts of an hour shall be payable on a prorated basis. The hourly rates shall include wages, indirect costs, general and administrative expenses, and profit. (B) Hourly rate means the rate(s) specified in the Agreement for payment for labor that meets the labor category qualifications of a labor category specified in the Agreement that are performed by the Seller, performed by the subcontractors, or transferred between divisions, subsidiaries, or affiliates of the Seller under a common control. (C) Labor hours incurred to perform tasks for which labor qualifications were specified in the Agreement will not be paid to the extent the work is performed by individuals that do not meet the specified qualification. (D) Seller shall substantiate invoices (including any subcontractor hours reimbursed at the hourly rate in the Agreement) by evidence of actual payment and by individual daily job timecards, records that verify the employees meet the qualifications for the labor categories specified in the Agreement, or other substantiation approved by Company. (E) Unless otherwise prescribed in this Agreement, Company may withhold five percent of the amounts due under this paragraph, with the total amount withheld not to exceed $50,000. The amounts withheld shall be retained until the execution and delivery of a release by Xxxxxx as provided below. (F) Unless this Agreement prescribes otherwise, hourly rates shall not be varied by virtue of Seller having performed work on an overtime basis. If overtime rates are provided, the premium portion will be reimbursable only to the extent the overtime is approved by Company.

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