Holiday Falling on a Scheduled Workday An Employee who works on a designated holiday which is a scheduled workday shall be compensated at the rate of double time for hours worked, plus a day off in lieu of the holiday; except for Christmas and New Year's when the compensation shall be at the rate of double time and one-half (2½) for hours worked, plus a day off subject to this Agreement.
Tax Periods Ending on or Before the Closing Date Buyer shall prepare or cause to be prepared and file or cause to be filed all Tax Returns for the Company and the Company Subsidiary for all periods ending on or prior to the Closing Date which are required to be filed (taking into account all extensions properly obtained) after the Closing Date.
Vacancy Posting If a regular employee is absent from his/her position for more than 24 months as a result of medical leave, such position will be posted in accordance with the provision of Article 12. Upon return to work the regular employee shall be returned to work to a position of equal rank and basic pay.
Loading on Annual Leave During a period of annual leave an Employee covered by this clause shall receive a loading of 22.5% calculated on the all-purpose rate of wage prescribed by Appendix A, clause 2.3 of this Agreement.
Change in Form or Timing of Distributions All changes in the form or timing of distributions hereunder must comply with the following requirements. The changes:
(a) may not accelerate the time or schedule of any distribution, except as provided in Section 409A of the Code and the regulations thereunder;
(b) must, for benefits distributable under Sections 2.1, 2.2, 2.3 and 2.4, delay the commencement of distributions for a minimum of five (5) years from the date the first distribution was originally scheduled to be made; and
(c) must take effect not less than twelve (12) months after the election is made.
Posting Vacancies 1 The principal shall be responsible for notifying the Department of Human Resources of vacancies that are open at their school as soon as they are known.
Permitted Withdrawals From Custodial Account The Company shall, from time to time, withdraw funds from the Custodial Account for the following purposes:
(i) to make payments to the Purchaser in the amounts and in the manner provided for in Section 5.01;
(ii) to reimburse itself for Monthly Advances of the Company's funds made pursuant to Section 5.03, the Company's right to reimburse itself pursuant to this subclause (ii) being limited to amounts received on the related Mortgage Loan which represent late payments of principal and/or interest respecting which any such advance was made, it being understood that, in the case of any such reimbursement, the Company's right thereto shall be prior to the rights of Purchaser, except that, where the Company is required to repurchase a Mortgage Loan pursuant to Section 3.03 or 6.02, the Company's right to such reimbursement shall be subsequent to the payment to the Purchaser of the Repurchase Price pursuant to such sections and all other amounts required to be paid to the Purchaser with respect to such Mortgage Loan;
(iii) to reimburse itself for unreimbursed Servicing Advances, and for any unpaid Servicing Fees, the Company's right to reimburse itself pursuant to this subclause (iii) with respect to any Mortgage Loan being limited to related Liquidation Proceeds, Condemnation Proceeds, Insurance Proceeds and such other amounts as may be collected by the Company from the Mortgagor or otherwise relating to the Mortgage Loan, it being understood that, in the case of any such reimbursement, the Company's right thereto shall be prior to the rights of Purchaser, except that where the Company is required to repurchase a Mortgage Loan pursuant to Section 3.03 or 6.02, in which case the Company's right to such reimbursement shall be subsequent to the payment to the Purchaser of the Repurchase Price pursuant to such sections and all other amounts required to be paid to the Purchaser with respect to such Mortgage Loan;
(iv) to pay itself interest on funds deposited in the Custodial Account;
(v) to reimburse itself for expenses incurred and reimbursable to it pursuant to Section 8.01;
(vi) to pay any amount required to be paid pursuant to Section 4.16 related to any REO Property, it being understood that, in the case of any such expenditure or withdrawal related to a particular REO Property, the amount of such expenditure or withdrawal from the Custodial Account shall be limited to amounts on deposit in the Custodial Account with respect to the related REO Property;
(vii) to reimburse itself for any Servicing Advances or REO expenses after liquidation of the Mortgaged Property not otherwise reimbursed above;
(viii) to remove funds inadvertently placed in the Custodial Account by the Company; and
(ix) to clear and terminate the Custodial Account upon the termination of this Agreement. In the event that the Custodial Account is interest bearing, on each Remittance Date, the Company shall withdraw all funds from the Custodial Account except for those amounts which, pursuant to Section 5.01, the Company is not obligated to remit on such Remittance Date. The Company may use such withdrawn funds only for the purposes described in this Section 4.05.
Permitted Withdrawals From Escrow Account Withdrawals from the Escrow Account or Accounts may be made by the Company only:
(i) to effect timely payments of ground rents, taxes, assessments, water rates, mortgage insurance premiums, condominium charges, fire and hazard insurance premiums or other items constituting Escrow Payments for the related Mortgage;
(ii) to reimburse the Company for any Servicing Advances made by the Company pursuant to Section 4.08 with respect to a related Mortgage Loan, but only from amounts received on the related Mortgage Loan which represent late collections of Escrow Payments thereunder;
(iii) to refund to any Mortgagor any funds found to be in excess of the amounts required under the terms of the related Mortgage Loan;
(iv) for transfer to the Custodial Account and application to reduce the principal balance of the Mortgage Loan in accordance with the terms of the related Mortgage and Mortgage Note;
(v) for application to restoration or repair of the Mortgaged Property in accordance with the procedures outlined in Section 4.14;
(vi) to pay to the Company, or any Mortgagor to the extent required by law, any interest paid on the funds deposited in the Escrow Account;
(vii) to clear and terminate the Escrow Account on the termination of this Agreement; and
(viii) to withdraw funds deposited in error.
Posting of Vacancies Before any vacancy is posted, any displaced teacher with proper certification shall fill said vacancy. Vacancies shall be posted in accordance with the following:
A. Vacancies occurring between the end of the school year and August 5 shall be posted in accordance with the following provisions:
1. The Superintendent will prepare lists of vacancies to be posted and filled. Such posting shall occur within five (5) workdays of the date the vacancy is known.
2. Applications for vacancies shall be submitted to the Superintendent within five (5) workdays of the date which appears on the posting. A copy of all postings will be given to the NEA President. Employees shall be notified of any openings via their work email and posted on the district’s website.
3. Each notice of vacancy shall clearly set forth the title of the position, qualifications for the position, grade level (if known), duties, salary, procedure for application, the deadline for submitting the application, and the person to whom the application is to be submitted. The notice is subject to change as the needs of the school system change, but any change shall result in the reposting of the position(s) unless otherwise mutually agreed upon by the Superintendent and NEA President.
4. All vacancies and assignments are subject to change due to decrease in enrollment, reassignment of students, and/or school closings.
5. The position shall be filled no later than ten (10) workdays after the posting period. This shall apply when the position is being filled by an employee.
B. Existing position(s) that become vacant after the August Board Meeting shall be awarded to the most senior bargaining unit member who is on the recall list, provided he/she possesses the proper certification/licensure, if comparable evaluations. Evaluation ratings shall be the determining factor governing the selection of the recalled employee. They shall remain in the position for the school year, or whatever portion of the year is remaining.
1. Any bargaining unit member on the recall list who possesses the proper certification/licensure for the vacancy and who is offered a position after the start of the school year and declines the position will not lose his/her recall rights.
2. The Board may, absent a properly certified/licensed individual on the recall list, or if there is a properly certified/licensed individual on the recall list who declines the position after the start of the school year, hire a new employee or a substitute to fill the vacancy for the school year, or whatever portion of the year remains.
C. Vacancies that are filled under the provisions of Section 6.032 B of the Agreement shall be posted for the ensuing school year no later than April 15 of each school year unless extenuating circumstances arise in which the posting will be made as soon as practicable. The posting(s) shall adhere to the provisions set forth in Section 6.032 A. 2. through A. 5. of the Agreement.
D. For all newly created positions while schools are in session the following shall apply:
1. The Superintendent will prepare lists of vacancies to be posted and filled in all schools as such vacancies occur. Such posting shall occur within five (5) workdays of the date the vacancy is known.
2. While schools are in session, all vacancies shall be posted in all buildings for a period of five (5) workdays.
3. When schools are in session, applications for vacancies shall be submitted to the Superintendent within five (5) workdays of the date which appears on the posting. Sufficient copies of the postings shall be made available to all NEA building representatives. During the summer months, when schools are not in session, employees shall be notified of any openings via their work email and posted on the District’s website.
4. Each notice of vacancy shall clearly set forth the title of the position, qualifications for the position, grade level (if known), duties, salary, procedure for application, the deadline for submitting the application, and the person to whom the application is to be submitted. The notice is subject to change as the needs of the school system change, but any change shall result in the reposting of the position(s).
5. All vacancies and assignments are subject to change due to decrease in enrollment, reassignment of students, and/or school closings.
6. The position shall be filled no later than ten (10) workdays after the posting period. This shall apply when the position is being filled by an employee.
Permitted Withdrawals and Transfers from the Master Servicer Collection Account (a) The Master Servicer will, from time to time on demand of a Servicer or the Securities Administrator, make or cause to be made such withdrawals or transfers from the Master Servicer Collection Account as the Master Servicer has designated for such transfer or withdrawal pursuant to this Agreement and the related Servicing Agreement. The Master Servicer may clear and terminate the Master Servicer Collection Account pursuant to Section 10.01 and remove amounts from time to time deposited in error.
(b) On an ongoing basis, the Master Servicer shall withdraw from the Master Servicer Collection Account (i) any expenses recoverable by the Trustee, the Master Servicer or the Securities Administrator or the Custodian pursuant to Sections 3.03, 7.04 and 9.05 and (ii) any amounts payable to the Master Servicer as set forth in Section 3.14.
(c) In addition, on or before each Distribution Account Deposit Date, the Master Servicer shall deposit in the Distribution Account (or remit to the Trustee for deposit therein) any Monthly Advances required to be made by the Master Servicer with respect to the Mortgage Loans.
(d) No later than 3:00 p.m. New York time on each Distribution Account Deposit Date, the Master Servicer will transfer all Available Funds on deposit in the Master Servicer Collection Account with respect to the related Distribution Date to the Trustee for deposit in the Distribution Account.
