Pay-Off Letter The Administrative Agent shall have received satisfactory pay-off letters for all existing Indebtedness to be repaid from the proceeds of the initial Borrowing, confirming that all Liens upon any of the property of the Loan Parties constituting Collateral will be terminated concurrently with such payment and all letters of credit issued or guaranteed as part of such Indebtedness shall have been cash collateralized or supported by a Letter of Credit.
Single Premium Credit Life Insurance None of the proceeds of the Mortgage Loan were used to finance single-premium credit life insurance policies;
Group Life Insurance The Hospital shall contribute one hundred percent (100%) toward the monthly premium of HOOGLIP or other equivalent group life insurance plan in effect for eligible full-time employees in the active employ of the Hospital on the eligibility conditions set out in the existing Agreements.
Sick Bank (1) A “Sick Leave Bank” shall be established. The purpose of said bank shall be to aid only unit members whose sick leave accumulation has been exhausted and who suffer prolonged absence from (a) a disabling condition, (b) an accident which causes disability; and (c) disability arising from pregnancy by providing additional paid sick leave for extreme hardship cases due to personal illness and/or personal injury shall not be for casual use. (2) No qualified unit member shall be permitted to use more than 93 days from the Sick Leave Bank. (3) Each unit member may contribute a total of two (2) days from his/her sick leave accumulation to the Sick Leave Bank. If a pre-tenure teacher elects this option, he/she shall be permitted to use no more than fifteen (15) days from the Sick Leave Bank for each year of service. (4) All donations to the Sick Leave Bank will be voluntary. (5) All days not used in a year will be retained in the Sick Leave Bank. (6) If all the donated days are used during a given school year, the Bank shall be declared open and additional donations of a maximum of two (2) days by each tenured unit member may be made. (7) Unit members using sick leave days from the Bank will not have to replace those days. (8) No days may be donated to a specific individual, nor may they be donated to teachers exclusively in a certain school. (9) A unit member withdrawing from membership in the Bank shall not be allowed to withdraw contributed days. (10) Procedure for processing requests for Sick Bank days: (a) The unit member requesting Sick Bank days shall obtain from the Association or from the Human Resources Department a copy of the SEA Sick Bank Request form. (b) The unit member shall submit a completed Request form, including a completed Physician Statement, to the Human Resources Department who will promptly provide a copy to the Association. SEA approval is assumed unless SEA informs the Human Resources Department of its concerns regarding the request within three (3) days of receipt. (c) The Human Resources Department shall review the Request form for completeness. If the form is incomplete, the unit member and the Association will be notified. If any additional information is needed to process the Request form, the unit member and the Association shall be notified and the unit member shall be asked to comply. (d) The Human Resources Department shall promptly review and respond to the completed Request form. If approved, the unit member and the Association shall be notified in writing of such approval. If approval is denied, the unit member and the Association shall be notified in writing that the Sick Bank Committee will be convened to review the request. The unit member may be required to submit additional information for the consideration of the committee. (e) The unit member and the Association will be notified in writing of the decision of the Sick Bank Committee. Should the committee refer the unit member to an independent Medical Review Officer (MRO), the unit member shall be notified in writing and can decline, forfeiting the use of the Sick Bank. (This provision shall not impact the right of the Board to require an employee to submit to an Independent Medical Examination (IME) at Board expense as permitted by applicable law). (11) A committee consisting of two unit members selected by the SEA, three persons designated by the Board, and the Human Resources Director who shall act as the non- voting chairperson, shall be established to set up guidelines, review implementation, and update procedures. The Sick Leave Committee shall: (a) Require a doctor’s certificate regarding the illness and/or injury and its specific impact on the ability of the employee to perform job responsibilities; (b) Consider the nature, seriousness; and projected duration of the illness and/or injury related to the ability of the employee to perform job responsibilities; and (c) Consider the applicant’s prior record of sick leave use. (12) The granting of any sick leave days from the Sick Leave Bank shall be made by majority vote of the committee members present and voting. In case of a tie vote, the case shall be referred to the Medical Review Officer (MRO). (a) The unit member shall be notified to submit all medical documentation from the unit member’s treating physician(s) to the MRO. The MRO shall be a licensed physician, appointed by agreement of both parties, for the duration of the Collective Bargaining Agreement, subject to reappointment by agreement of both parties. The medical documentation submitted shall detail the seriousness and nature of the illness or injury involved related to the ability of the employee to perform job responsibilities. The MRO shall confirm the seriousness and nature of the illness or injury related to job responsibilities utilizing said medical documentation; (b) If the MRO is unable to confirm the seriousness and nature of the illness or injury related to the ability to perform job responsibilities from the medical documentation as provided above, said MRO may conduct or send the employee to have an Independent Medical Examination (IME). A licensed physician shall perform the IME with expertise in the field of the illness or injury presented, to confirm the treating physician's report. The decision of the MRO, or the IME, shall be binding and final and not subject to the grievance procedure outlined in this Agreement. (c) Nothing contained herein shall preclude a resubmission to the MRO based upon additional medical documentation. (d) Individuals are subject to continuing review by the MRO, to confirm the seriousness of the illness or injury. The MRO shall have the discretion to discontinue leave benefits under this provision if he/she determined that the individual is capable of returning to work. (13) In the event that the parties cannot agree upon the selection of said MRO, the Board and the Association shall submit the matter to binding arbitration under the rules of the American Arbitration Association (AAA). (14) The costs of the MRO, the IME (if needed), and Arbitrator shall be borne equally by the Board and the Association. (15) The Superintendent, in his/her sole discretion, may authorize the use of additional sick leave days from the Bank to any member who has exhausted the maximum days set forth in paragraphs 2 and 3 above. The Superintendent shall notify the Human Resources Director of his/her decision to authorize sick leave above the caps set forth in paragraphs 2 and 3 above. The decision of the Superintendent shall be final and not subject to the grievance procedure contained in this Agreement. (16) In no case shall any unit member receive days from the Bank when absent due to a work-related injury. (17) The Board will annually supply the SEA with statistics regarding the status of the Bank, number of participants, number of days, number of unit members taking from the Bank, number of days remaining in the Bank, etc.
Bank Holding Company Borrower is not a “bank holding company” or a direct or indirect subsidiary of a “bank holding company” as defined in the Bank Holding Company Act of 1956, as amended, and Regulation Y thereunder of the Board of Governors of the Federal Reserve System.
Acknowledgement and Consent to Bail-In of EEAAffected Financial Institutions Notwithstanding anything to the contrary in any Loan Document or in any other agreement, arrangement or understanding among any such parties, each party hereto acknowledges that any liability of any EEAAffected Financial Institution arising under any Loan Document, to the extent such liability is unsecured, may be subject to the write-down and conversion powers of an EEAthe applicable Resolution Authority and agrees and consents to, and acknowledges and agrees to be bound by: (a) the application of any Write-Down and Conversion Powers by an EEAthe applicable Resolution Authority to any such liabilities arising hereunder which may be payable to it by any party hereto that is an EEAAffected Financial Institution; and (b) the effects of any Bail-in Action on any such liability, including, if applicable: (i) a reduction in full or in part or cancellation of any such liability; (ii) a conversion of all, or a portion of, such liability into shares or other instruments of ownership in such EEAAffected Financial Institution, its parent undertaking, or a bridge institution that may be issued to it or otherwise conferred on it, and that such shares or other instruments of ownership will be accepted by it in lieu of any rights with respect to any such liability under this Agreement or any other Loan Document; or (iii) the variation of the terms of such liability in connection with the exercise of the write-down and conversion powers of any EEAthe applicable Resolution Authority.
Acknowledgement and Consent to Bail-In of Affected Financial Institutions Notwithstanding anything to the contrary in any Loan Document or in any other agreement, arrangement or understanding among any such parties, each party hereto acknowledges that any liability of any Affected Financial Institution arising under any Loan Document, to the extent such liability is unsecured, may be subject to the Write-Down and Conversion Powers of the applicable Resolution Authority and agrees and consents to, and acknowledges and agrees to be bound by: (a) the application of any Write-Down and Conversion Powers by the applicable Resolution Authority to any such liabilities arising hereunder which may be payable to it by any party hereto that is an Affected Financial Institution; and (b) the effects of any Bail-In Action on any such liability, including, if applicable: (i) a reduction in full or in part or cancellation of any such liability; (ii) a conversion of all, or a portion of, such liability into shares or other instruments of ownership in such Affected Financial Institution, its parent undertaking, or a bridge institution that may be issued to it or otherwise conferred on it, and that such shares or other instruments of ownership will be accepted by it in lieu of any rights with respect to any such liability under this Agreement or any other Loan Document; or (iii) the variation of the terms of such liability in connection with the exercise of the Write-Down and Conversion Powers of the applicable Resolution Authority.
Group Term Life Insurance The Welfare Plan will include Group Term Life Insurance in accordance with the following Table of Hourly Job Rate Brackets and corresponding coverages. Benefits will be payable as a result of death from any cause on a twenty-four (24) hour coverage basis.
Single Disbursement to Borrower Borrower shall receive only one borrowing hereunder in respect of the Loan and any amount borrowed and repaid hereunder in respect of the Loan may not be reborrowed.
Term Life Insurance The Employer will maintain and make available to full-time and part-time employees, the current term life insurance plan as set forth in the document "Summary of Health Benefits, Maryland State Employees."
