Cancellation of Credit Units Sample Clauses

Cancellation of Credit Units. The number of Credit Units to be cancelled for the regular benefit shall be determined by
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Cancellation of Credit Units. When an employee's credit units are canceled under the provisions of Section 3 of this Article, he/she shall be entitled to no further benefits until he/she shall have been credited with additional credit units.
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Cancellation of Credit Units. The number of Credit Units to be cancelled for the Benefit shall be determined by (i) the Seniority of the Employee to whom such Benefit is paid and (ii) the CUCB applicable to the Week for which such Benefit is paid, in accordance with the following table : If the CUCB applicable to the Week for which a Weekly Supplement Benefit is paid is And as of the Last Day of the Week for which the Weekly Supplemental Benefit is paid to the Employee, his Years of Seniority are:
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Cancellation of Credit Units. The number of Credit Units to be cancelled for the regular benefit shall be determined by (i) the seniority of the employee to whom such benefit is paid and (ii) the Percentage Position applicable to the week for which such benefit is paid, in accordance with the following table: CONVERSION TABLE If the Percentage And if at the date of the Position of the seniority of the person to Fund Applicable whom such Benefit is paid is: to the week for which such 1 to 5 5 to 10 10 to 1515 years Benefit is Years Years Years and over paid is: The Credit Units cancelled for such Benefit shall be: 75% or over 1.00 1.00 1.00 1.00 65 - 74.99 1.25 1.00 1.00 1.00 55 - 64.99 1.50 1.25 1.00 1.00 45 - 54.99 1.75 1.50 1.25 1.00 35 - 44.99 2.00 1.75 1.50 1.25 25 - 34.99 2.50 2.00 1.75 1.50 15 - 24.99 3.00 2.25 2.00 1.75 under 15% No Benefit Payable
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Cancellation of Credit Units. When an employee’s credit units are cancelled under the provisions of Section 3 of this Article, he shall be entitled to no further benefits until he shall have been credited with additional credit units. 183
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Related to Cancellation of Credit Units

  • Termination of Credit Facility The Credit Facility shall terminate on the earliest of (a) the third anniversary of the Closing Date (the "Maturity Date"), (b) the date of termination by the Borrower pursuant to Section 2.5(a) and (c) the date of termination by the Administrative Agent on behalf of the Lenders pursuant to Section 10.2(a).

  • Cancellation of Commitments The Commitments in respect of any Tranche which are unutilised at the end of the Availability Period for such Tranche shall then be cancelled.

  • Cancellation of Commitment The Commitments which, at that time, are unutilised shall be immediately cancelled at the end of the Availability Period.

  • Treatment of Outstanding Loans and Letters of Credit 25 2.6 Making Revolving Credit Loans and Swing Loans; Presumptions by the Administrative Agent; Repayment of Revolving Credit Loans; Repayment of Swing Loans 26

  • Application of credit balances Each Creditor Party may without prior notice:

  • Extension of Credit For the purposes hereof, each drawdown, rollover and conversion shall be deemed to be an extension of credit to the Borrower hereunder.

  • Ratification of Credit Agreement Each Loan Party acknowledges and consents to the terms set forth herein and agrees that this Amendment does not impair, reduce or limit any of its obligations under the Loan Documents, as amended hereby. This Amendment is a Loan Document.

  • Commitment to Issue Letters of Credit (a) Subject to the terms and conditions hereof, upon the execution and delivery by the Borrower of a letter of credit application on the L/C Issuer’s customary form (a “Letter of Credit Application”), the L/C Issuer on behalf of the Revolving Credit Lenders and in reliance upon the agreement of the Revolving Credit Lenders set forth in this §4 and upon the representations and warranties of the Borrower contained herein, agrees, in its individual capacity, to issue, extend and renew for the account of the Borrower one or more standby letters of credit (individually, a “Letter of Credit”), in such form as may be requested from time to time by the Borrower, and agreed to by the L/C Issuer; provided, however, that, after giving effect to such request, (i) the sum of the aggregate Maximum Drawing Amount and all Unpaid Reimbursement Obligations shall not exceed the Letter of Credit Sublimit at any time, (ii) the sum of the outstanding principal amount of the Revolving Credit Loans plus the Maximum Drawing Amount and all Unpaid Reimbursement Obligations, plus the outstanding amount of Swing Line Loans shall not exceed the lesser of (x) the Total Commitment at such time and (y) the Borrowing Base at such time. Each request by the Borrower for the issuance or amendment of a Letter of Credit shall be deemed to be a representation by the Borrower that the issuance or amendment so requested complies with the conditions set forth in the proviso to the preceding sentence. Within the foregoing limits, and subject to the terms and conditions hereof, the Borrower’s ability to obtain Letters of Credit shall be fully revolving, and accordingly the Borrower may, during the foregoing period, obtain Letters of Credit to replace Letters of Credit issued for the account of the Borrower or such Subsidiary that have expired or that have been drawn upon and reimbursed.

  • Letter of Credit Commitments (a) Subject to the terms and conditions hereof and the receipt of a Letter of Credit Application by an Issuing Bank, with a copy to the Administrative Agent reflecting the Maximum Drawing Amount of all Letters of Credit (including the requested Letter of Credit), such Issuing Bank, on behalf of the Banks and in reliance upon the representations and warranties of the Borrower contained herein and the agreement of the Banks contained in Section 3.1(b) hereof, agrees to issue Letters of Credit for the account of the Borrower (which may, with such Issuing Bank's consent, incorporate automatic renewals for periods of up to twelve (12) months), in such form as may be requested from time to time by the Borrower and agreed to by the Issuing Bank; PROVIDED, HOWEVER, that, after giving effect to such request, the aggregate Maximum Drawing Amount of all Letters of Credit issued at any time shall not exceed the Total Commitment MINUS the aggregate outstanding amount of the Loans and PROVIDED FURTHER, that no Letter of Credit shall have an expiration date later than the earlier of (i) eighteen (18) months after the date of issuance (which may incorporate automatic renewals for periods of up to twelve (12) months), or (ii) five (5) Business Days prior to the Maturity Date. The letters of credit listed in SCHEDULE 3.1(a) issued by Issuing Banks under the Existing Credit Agreement shall be Letters of Credit under this Agreement. The letters of credit listed in SCHEDULE 3.1(b) issued by the Transitional Issuing Banks to the account of Old WMI or its Subsidiaries (the "Old WMI Letters of Credit") shall be Letters of Credit under this Agreement issued for the account of the Borrower as of the WMI Joinder Date; PROVIDED, HOWEVER, no Issuance Fee shall be payable hereunder to any Transitional Issuing Bank. The Old WMI Letters of Credit may only be renewed or extended by Letters of Credit issued by Issuing Banks (other than Transitional Issuing Banks) hereunder.

  • Certificates for Reimbursement; Repayment of Outstanding Loans; Borrowing of New Loans A certificate of a Lender or the Issuing Lender setting forth the amount or amounts necessary to compensate such Lender or the Issuing Lender or its holding company, as the case may be, as specified in Sections 5.8.1 [Increased Costs Generally] or 5.8.2 [Capital Requirements] and delivered to the Borrower shall be conclusive absent manifest error. The Borrower shall pay such Lender or the Issuing Lender, as the case may be, the amount shown as due on any such certificate within ten (10) days after receipt thereof.

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