Calculation of Daily and Hourly Rates Sample Clauses

Calculation of Daily and Hourly Rates. Calculations for payroll purposes of daily and hourly rates shall be in accordance with the table or rates prepared by the Human Resource Services Division of the Corporate Services Department of the City for calculating broken time, and the City agrees to supply the Association with one (1) copy of such table within one (1) month of the execution of this Agreement. The table of rates shall include an annual figure.
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Calculation of Daily and Hourly Rates. Calculations for payroll purposes of daily and hourly rates shall be in accordance with the table of rates prepared by the Corporate Services Department, Human Resource Services Division of the City for calculating broken time, and the City agrees to supply the Association with one (1) copy of such table within one (1) month of the execution of this Agreement. Members of the Association shall receive a lunch period of thirty (30) minutes. Rearrangement of shifts to take care of unavoidable contingencies will not entitle a shift man to overtime payment or compensating time off until he is required to work in excess of the regular number of hours each week as provided in Section (1) above.
Sample 1
Calculation of Daily and Hourly Rates. Calculations for payroll purposes of daily and hourly rates shall be in accordance with the table or rates prepared by the Human Resource Services Division of the Corporate Services Department of the City for calculating broken time, and the City agrees to supply the Association with one copy of such table within one month of the execution of this Agreement. The table of rates shall include an annual figure. Subject to Section above, members of the Association receiving a lunch period of less than thirty (30) minutes of the date of this Agreement shall receive a lunch period of thirty (30) minutes hereafter, and members of the Association now receiving a lunch period in excess of thirty (30) minutes shall continue to receive the same lunch period as at present during the currency of this Agreement. Rearrangement of Shifts Rearrangement of shifts to take care of unavoidable contingencies will not entitle a shift man to overtime payment or compensating time off until he is required to work in excess of the regular number of hours each week as provided in Section (1) above.
Sample 1
Calculation of Daily and Hourly Rates. Calculations for payroll purposes of daily and hourly rates shall be in accordance with the table or rates prepared by the Human Resource Services Division of the Corporate Services Department of the City for calculating broken time, and the City agrees to supply the Association with one copy of such table within one month of the execution of this Agreement. The table of rates shall include an annual figure. Subject to Section above, members of the Association receiving a lunch period of less than thirty (30) minutes of the date of this Agreement shall receive a lunch period of thirty (30) minutes hereafter, and members of the Association now receiving a lunch period in excess of thirty (30) minutes shall continue to receive the same lunch period as at present during the currency of this Agreement. Rearrangement of shifts to take care of unavoidable contingencies will not entitle a shift man to overtime payment or compensating time off until he is required to work in excess of the regular number of hours each week as provided in Section above. All overtime shall be paid for at the rate of time and one-half for the first two (2) hours and double time for all hours, or portions thereof, in excess of the said two (2) hours, provided that no payment for overtime shall be granted for overtime periods of fifteen (15) minutes, or less. However, when overtime of sixteen (16) minutes to thirty (30) minutes, both inclusive, is worked, payment for thirty (30) minutes at the overtime rate shall be made. Further, when overtime of thirty-one (31) minutes up to sixty (60) minutes, both inclusive, is worked, payment for sixty (60) minutes at the overtime rate shall be made. Provided, further, that upon request of the employee concerned, compensating time off may be allowed in lieu of overtime pay on the basis of time and one-half or double time for all hours, or part of an hour, as the case may be, so worked. Clerical Work on Weekly Leave If clerical workers are required to assigned to work on their weekly leave, they will be paid at two times their regular rate of pay for all hours worked, however the minimum compensation payable will be no less than seven (7) hours pay at straight time rates. This Article shall not apply if the employee requests to work on their regular weekly leave in order to make up for leave taken, or to be taken at another time. Any member of the Association who not on duty and is called out for duty, on other than his regular weekly leave, shall r...
Sample 1

Related to Calculation of Daily and Hourly Rates

  • Times of Day; Rates Unless otherwise specified, all references herein to times of day shall be references to Eastern time (daylight or standard, as applicable). The Administrative Agent does not warrant, nor accept responsibility, nor shall the Administrative Agent have any liability with respect to the administration, submission or any other matter related to the rates in the definition of “Eurodollar Rate” or with respect to any comparable or successor rate thereto.

  • Hourly Rates The following is a list of hourly billable rates that Contractor shall apply for additional services requested of the Contractor. Contractor shall be compensated based on the hourly rates set forth below, on a time and material basis for those services that are within the general scope of services of this Agreement, but beyond the description of services required under Exhibit A, and all services are reasonably necessary to complete the standards of performance required by this Agreement. Any changes and related fees shall be mutually agreed upon between the parties by a written amendment to this Agreement. Hourly Billable Rate Schedule Title Role on Project Hourly Billable Rates $ $ $ $ $ $ $

  • Interest Rates and Letter of Credit Fee Rates Payments and Calculations (a) Interest Rates. Except as provided in Section 2.13(c) and Section 2.15(a), all Obligations (except for the undrawn portion of the face amount of Letters of Credit) that have been charged to the Loan Account pursuant to the terms hereof shall bear interest at a per annum rate equal to the lesser of (i) the LIBOR Rate plus the Applicable Margin, or (ii) the maximum rate of interest allowed by applicable laws; provided, that following notice to Borrower in accordance with Section 2.15(a) hereof, all Obligations that have been charged to the Loan Account pursuant to the terms hereof shall bear interest at a per annum rate equal, during the duration of the circumstances described in Section 2.15(a), to the lesser of (A) the Base Rate plus the Applicable Margin as calculated pursuant to Section 2.15(a) or (B) the maximum rate of interest allowable by applicable laws.

  • 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.

  • Accrual Rates All eligible employees shall accrue vacation pay according to the following rates:

  • Interest Rates; LIBOR Notification The interest rate on Eurodollar Loans is determined by reference to the LIBO Rate, which is derived from the London interbank offered rate. The London interbank offered rate is intended to represent the rate at which contributing banks may obtain short-term borrowings from each other in the London interbank market. In July 2017, the U.K. Financial Conduct Authority announced that, after the end of 2021, it would no longer persuade or compel contributing banks to make rate submissions to the ICE Benchmark Administration (together with any successor to the ICE Benchmark Administrator, the “IBA”) for purposes of the IBA setting the London interbank offered rate. As a result, it is possible that commencing in 2022, the London interbank offered rate may no longer be available or may no longer be deemed an appropriate reference rate upon which to determine the interest rate on Eurodollar Loans. In light of this eventuality, public and private sector industry initiatives are currently underway to identify new or alternative reference rates to be used in place of the London interbank offered rate. In the event that the London interbank offered rate is no longer available or in certain other circumstances as set forth in Section 2.14(c) of this Agreement, such Section 2.14(c) provides a mechanism for determining an alternative rate of interest. The Administrative Agent will notify the Borrower, pursuant to Section 2.14, in advance of any change to the reference rate upon which the interest rate on Eurodollar Loans is based. However, the Administrative Agent does not warrant or accept any responsibility for, and shall not have any liability with respect to, the administration, submission or any other matter related to the London interbank offered rate or other rates in the definition of “LIBO Rate” or with respect to any alternative or successor rate thereto, or replacement rate thereof, including without limitation, whether the composition or characteristics of any such alternative, successor or replacement reference rate, as it may or may not be adjusted pursuant to Section 2.14(c), will be similar to, or produce the same value or economic equivalence of, the LIBO Rate or have the same volume or liquidity as did the London interbank offered rate prior to its discontinuance or unavailability.

  • Calculation of Amounts Binding Effect of Interpretations and Actions of Master Servicer...............................

  • Base Rates Attached to and made a part of this Agreement is Appendix A which sets forth the straight-time hourly rates for all employees covered by this Agreement.

  • Hourly Rate Divisor The hourly rate for the purposes of the calculation of overtime is the weekly all-purpose rate contained in Clause 7 Wages, divided by 36.

  • Overtime Rates All overtime hours shall be compensated at the rate of time and one- half (1-1/2).

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