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BENEFIT BOND Sample Clauses

BENEFIT BOND. 34.01 Before members of Local 83 are dispatched, to any employer who has not been a party to xxx Xxxxxxxxxx Collective Agreement for a minimum of twelve (12) months, such employer shall provide security for a period of one (1) year in the amount of five thousand dollars ($5,000.00). This five thousand dollar ($5,000.00) security shall be used by the Union in the event of a default of payment by the said employer of Welfare and/or Pension, Training, Safety and Industry Improvement Fund contributions as set forth in the aforesaid Collective Agreement. The five thousand dollar ($5,000.00) security shall be returned by the Union to the employer after thirty (30) days from the expiry of the one (1) year period that the security was provided by the employer including accumulated interest where the employer has not defaulted in any payments required for the Welfare, Pension, Training, Safety and Industry Improvement Fund referred to herein, within the one (1) year period.
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BENEFIT BOND. Before members of Local 1178 are dispatched, to any Employer who has not been a party to the Millwrights Collective Agreement for a minimum of twelve (12) months, such Employer shall provide security for a period of one (1) year in the amount of twenty thousand dollars ($20,000.00). This twenty thousand dollar ($20,000.00) security shall be used by the Union in the event of a default of payment by the said Employer of Welfare and/or Pension, Employers, Millwrights, Training, Health & Safety and Industry Improvement Fund contributions as set forth in the aforesaid Collective Agreement. The twenty thousand dollar ($20,000.00) security shall be returned by the Union to the Employer after thirty (30) days from the expiry of the one
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BENEFIT BOND. Before members of Local 752 are dispatched to and/or hired directly by any Employer who has not been a party to the Collective Agreement for a minimum of twelve (12) months, or to an Employer who is delinquent in remittances, or has a history of delinquency in remittances, such Employer shall provide security in such form, value and duration as the Trustees may in their discretion determine to be appropriate. This security shall be used by the Union in the event of a default of payment by the said Employer of Welfare and/or Pension Funds and Training and Industry Improvement Funds as set forth in the aforesaid Collective Agreement. The security shall be returned by the Trustees to the Employer after thirty (30) days from the expiry of the period that the security was provided by the Employer including accumulated interest where the Employer has not defaulted in any payments required for the Welfare, Pension, Training and Industry Improvement Funds referred to herein, within period.
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BENEFIT BOND. Before members of Local 752 are dispatched to and/or hired directly by any employer who has not been a party to the Collective Agreement for a minimum of twelve (12) months, such employer shall provide security for a period of one (1) year in the amount of twenty-five thousand dollars ($25,000.00). This twenty-five thousand dollars ($25,000.00) security shall be used by the Union in the event of a default of payment by the said employer of Benefit and Pension Funds, Training and Industry Improvement Funds, and Monthly Dues and Field Dues as set forth in the aforesaid Collective Agreement. The allocation of funds shall be made in that order of priority. The twenty-five thousand dollars ($25,000.00) security shall be returned by the Union to the employer after thirty (30) days from the expiry of the one (1) year period that the security was provided by the employer including accumulated interest where the employer has not defaulted in any payments required for the Benefit, Pension, Training and Industry Improvement Funds, Monthly Dues and Field Dues referred to herein, within the one year period.
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BENEFIT BOND. Before members of Local 752 are dispatched to and/or hired directly by any Employer who has not been a party to the Collective Agreement for a minimum of twelve (12) months, or to an Employer who is delinquent in remittances, or has a history of delinquency in remittances, such Employer shall provide security in such form, value and duration as the Trustees may in their discretion determine to be appropriate. This security shall be used by the Union in the event of a default of payment by the said Employer of Benefit and Pension Funds, Training and Industry Improvement Funds, and Monthly Dues and Field Dues as set forth in the aforesaid Collective Agreement. The allocation of funds shall be made in that order of priority. The security shall be returned by the Trustees to the Employer after thirty (30) days from the expiry of the period that the security was provided by the Employer including accumulated interest where the Employer has not defaulted in any payments required for the Benefit, Pension, Training and Industry Improvement Funds, Monthly Dues and Field Dues referred to herein, within period.
Sample 1
BENEFIT BOND. Before members of Local 752 are dispatched to and/or hired directly by any employer who has not been a party to the Collective Agreement for a minimum of twelve (12) months, such employer shall provide security for a period of one (1) year in the amount of ten thousand dollars ($10,000.00). This ten thousand dollar ($10,000.00) security shall be used by the Union in the event of a default of payment by the said employer of Welfare and/or Pension Funds and Training and Industry Improvement Funds as set forth in the aforesaid Collective Agreement. The ten thousand dollar ($10,000.00) security shall be returned by the Union to the employer after thirty (30) days from the expiry of the one
Sample 1
BENEFIT BOND. A25.01 Before members of Local 752 are dispatched to and/or hired directly by any employer who has not been a party to the Collective Agreement for a minimum of twelve (12) months, such employer shall provide security for a period of one (1) year in the amount of ten thousand dollars ($10,000.00). This ten thousand dollar ($10,000.00) security shall be used by the Union in the event of a default of payment by the said employer of Welfare and/or Pension Funds and Training and Industry Improvement Funds as set forth in the aforesaid Collective Agreement. The ten thousand dollar ($10,000.00) security shall be returned by the Union to the employer after thirty (30) days from the expiry of the one (1) year period that the security was provided by the employer including accumulated interest where the employer has not defaulted in any payments required for the Welfare, Pension, Training and Industry Improvement Funds referred to herein, within the one year period.
Sample 1
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Related to BENEFIT BOND

  • Benefit Coverage The Company agrees to provide pension and welfare benefits as described in the Company Booklets, benefit plan documents or policies of insurance for the duration of the Agreement.

  • Benefit Level The primary care clinics available through each plan administrator are assigned a Benefit Level. The Benefit Levels are outlined in the benefit chart below. Primary care clinics may be in different Benefit Levels for different plan administrators. Family members may be enrolled in clinics that are in different Benefits Levels. Employees and their dependents may change to clinics in different Benefit Levels during the annual open enrollment. Employees and their dependents may also elect to move to a clinic in a different Benefit Level within the same plan administrator up to two (2) additional times during the plan year. Unless the individual has a referral from his/her primary care clinic, there are no benefits for services received from providers in Benefit Levels that are different from that of the primary care clinic in which the individual has enrolled.

  • Insurance Benefit The Employer may elect to provide incidental life insurance benefits for insurable Participants who consent to life insurance benefits by signing the appropriate insurance company application form. The Trustee will not purchase any incidental life insurance benefit for any Participant prior to an allocation to the Participant's Account. At an insured Participant's written direction, the Trustee will use all or any portion of the Participant's nondeductible voluntary contributions, if any, to pay insurance premiums covering the Participant's life. This Section 11.01 also authorizes the purchase of life insurance, for the benefit of the Participant, on the life of a family member of the Participant or on any person in whom the Participant has an insurable interest. However, if the policy is on the joint lives of the Participant and another person, the Trustee may not maintain that policy if that other person predeceases the Participant. The Employer will direct the Trustee as to the insurance company and insurance agent through which the Trustee is to purchase the insurance contracts, the amount of the coverage and the applicable dividend plan. Each application for a policy, and the policies themselves, must designate the Trustee as sole owner, with the right reserved to the Trustee to exercise any right or option contained in the policies, subject to the terms and provisions of this Agreement. The Trustee must be the named beneficiary for the Account of the insured Participant. Proceeds of insurance contracts paid to the Participant's Account under this Article XI are subject to the distribution requirements of Article V and of Article VI. The Trustee will not retain any such proceeds for the benefit of the Trust. The Trustee will charge the premiums on any incidental benefit insurance contract covering the life of a Participant against the Account of that Participant. The Trustee will hold all incidental benefit insurance contracts issued under the Plan as assets of the Trust created under the Plan.

  • Early Retirement Benefit Upon Termination of Service prior to the Normal Retirement Age for reasons other than death, Change of Control or Disability, the Company shall pay to the Director the benefit described in this Section 4.2 in lieu of any other benefit under this Agreement.

  • Benefit Eligibility For purposes of the Benefit Plan entitlement, common-law and same sex relationships will apply as defined.

  • Economic Benefit The Bank shall determine the economic benefit attributable to the Executive based on the life insurance premium factor for the Executive’s age multiplied by the aggregate death benefit payable to the Beneficiary. The “life insurance premium factor” is the minimum factor applicable under guidance published pursuant to Treasury Reg. § 1.61-22(d)(3)(ii) or any subsequent authority.

  • Death Benefit Should Employee die during the term of employment, the Company shall pay to Employee's estate any compensation due through the end of the month in which death occurred.

  • Early Retirement Benefits If elected in the Adoption Agreement, an Early Retirement benefit may be available to individuals who meet the age and Service requirements that are specified in the Adoption Agreement. A Participant who attains his or her Early Retirement Date will become fully vested, regardless of any vesting schedule which otherwise might apply. If a Participant separates from Service with a nonforfeitable benefit before satisfying the age requirements, but after having satisfied the Service requirement, the Participant will be entitled to elect an Early Retirement benefit upon satisfaction of the age requirement.

  • Annuity 24.1 If the policy schedule states that the insured amount is a surviving dependant's annuity within the meaning of Section 3.125(1)(b) of the Income Tax Act 2001, this article shall apply. a. The entitlement to an annuity payment cannot be surrendered, disposed of, divulged or used as security and, in general, no legal action can be taken with regard to this insurance that may lead the tax authorities to take back the premium deduction they received for this insurance in the past. b. The insurer shall be held liable by law for the payment of the wage and income tax and revision interest owed by the policyholder or the person entitled to an annuity as soon as a circumstance referred to under point a arises. c. The insurer will then be entitled to set off the amount of the maximum wage and income tax and revision interest due against the value of the insured annuity(s), irrespective of whether these are paid out or not.

  • Pension Benefits Each party reserves the right to retain as his or her sole and absolute separate property, the entire interest in pension benefits now vested, or that become vested in the future, and the right to manage, control, transfer, and convey all such property and dispose of the same by will, beneficiary designation or otherwise, without any interference from the other. The parties acknowledge that this Agreement shall constitute an effective waiver of any rights in the other's pension benefit plans. Furthermore, each party agrees to execute whatever additional waiver document may be necessary or useful to confirm such waiver of rights to the other party's pension benefit plans.

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