Biennial True-Up Sample Clauses

Biennial True-Up. In addition to performing the Annual True-Up for each Contract Year, Lender will also perform a biennial true-up, the first to take place at the end of the second Contract Year and then every two Contract Years thereafter (the “Biennial True-Up”). Lender will (a) calculate the Actual Loan Balance at the end of the second Contract Year (after giving effect to any payment required under the Annual True-Up for the current Contract Year) and
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Related to Biennial True-Up

  • COMPUTATION OF BENEFITS All hours paid to an employee shall be considered as hours worked for the purpose of computing any of the benefits under this Agreement.

  • Equalization of Overtime To the extent possible, consistent with current practice, voluntary overtime opportunities shall be distributed equally among qualified volunteers with similar skills and duties . The employer will attempt to meet overtime needs by first soliciting volunteers prior to making assignments . It is understood that soliciting volunteers may not be appropriate in emergency situations (including short- notice absences) . Section Six. (a) Effective 7/1/95, employees who are assigned to a fixed duty station and have previously been receiving portal to portal pay, shall have the benefit of counting their travel time to and from the fixed duty station limited to one-half (1/2) hour each way.

  • Continuation of Benefits Following the termination of Executive’s employment hereunder, the Executive shall have the right to continue in the Company’s group health insurance plan or other Company benefit program as may be required by COBRA or any other federal or state law or regulation.

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