Compensating Time Off (C.T Sample Clauses

Compensating Time Off (C.T. O.) (a) Every employee who is required to work overtime, or work on a public holiday, in their home branch, shall at the time of working overtime or at the time of working on a public holiday, elect whether to be paid therefor or receive compensating time off in lieu thereof. Thereafter, the method of compensation selected will not be changed unless the Supervisor is notified otherwise. Employees who work overtime or work on a public holiday outside of their home branch will be paid therefor without the option to receive compensating time off in lieu thereof. An employee who elects to receive compensating time off in lieu of being paid overtime or for time worked on a public holiday shall be credited with compensating time off equivalent to the number of hours that would have been paid at straight time for the overtime so worked, at the rate or rates of pay in effect at the time such overtime was worked, subject to the following conditions: (i) Time off in lieu of overtime and work on public holidays may not be added to the annual vacation if any part of the vacation falls within the period from June 15th to September 15th, except as provided in Clause 7.3(b). (ii) If the employee does not receive all of the compensating time off by 31 March of the year following the year in which the overtime was worked giving entitlement to such compensating time off, or prior to leaving the service of the Employer for any reason (whichever event occurs first), the employee shall be paid in cash for the overtime for which no compensation was received at the rate or rates of pay in effect at the time such overtime was worked. (iii) Time off in lieu of overtime, or work on public holidays, may be taken in single or multiple days, and must be approved by the employee's Branch Superintendent. (iv) Employees required to work on public holidays shall receive eight (8) hours' pay at straight time in accordance with Clause 10.3(b) for the public holiday so worked. It is understood that employees now working on public holidays will continue to do so. (b) Upon written application of individual employees, the City Engineer may permit the requirements of Clauses 7.3(a)(i) and 7.3(a)(iii) herein to be relaxed if conditions in the Branch permit. The Union recognizes that conditions vary from Branch to Branch and that the relaxation of requirements will vary from Branch to Branch.
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Related to Compensating Time Off (C.T

  • Compensating Time Off ‌ At the time an employee is required or requested to work overtime, the employee may opt for compensating time off at the applicable overtime rate in lieu of overtime pay. If an employee opts for compensating time off in lieu of overtime pay, the time shall be taken at a time mutually agreed to by the employee and the Employer and shall be taken within 24 calendar weeks of the occurrence of the overtime. The Employer will make a reasonable effort to allow time off when requested by the employee. If such time off is not taken by the end of the 24 week period, overtime at the applicable overtime rate shall be paid on the employee's next regular paycheque.

  • Compensating Time Compensating time earned by an employee may be accumulated up to two hundred forty (240) hours. Except where operational needs require otherwise, employees shall be entitled to use compensating time at times of their choice. Upon mutual agreement between an employee and an agency and with approval of the Commissioner or a designee, an agency may at any time pay an employee for up to two hundred forty (240) hours of that employee's accumulated compensating time. Such payment shall be made at the employee's hourly rate of pay in effect at the time of payment.

  • Compensating Interest The Servicer shall remit to the Trustee on each Remittance Date an amount from its own funds equal to the Compensating Interest payable by the Servicer for the related Distribution Date.

  • Servicing and Other Compensation; Compensating Interest (a) The Master Servicer, as compensation for its activities hereunder, shall be entitled to receive on each Distribution Date the amounts provided for by clauses (iii), (iv), (v) and (vi) of Section 3.10(a), subject to clause (e) below. The amount of servicing compensation provided for in such clauses shall be accounted for on a Mortgage Loan-by-Mortgage Loan basis. In the event that Liquidation Proceeds, Insurance Proceeds and REO Proceeds (net of amounts reimbursable therefrom pursuant to Section 3.10(a)(ii)) in respect of a Cash Liquidation or REO Disposition exceed the unpaid principal balance of such Mortgage Loan plus unpaid interest accrued thereon (including REO Imputed Interest) at a per annum rate equal to the related Net Mortgage Rate (or the Modified Net Mortgage Rate in the case of a Modified Mortgage Loan), the Master Servicer shall be entitled to retain therefrom and to pay to itself and/or the related Subservicer, any Foreclosure Profits and any Servicing Fee or Subservicing Fee considered to be accrued but unpaid. (b) Additional servicing compensation in the form of prepayment charges, assumption fees, late payment charges, investment income on amounts in the Custodial Account or the Certificate Account or otherwise shall be retained by the Master Servicer or the Subservicer to the extent provided herein, subject to clause (e) below. (c) The Master Servicer shall be required to pay, or cause to be paid, all expenses incurred by it in connection with its servicing activities hereunder (including payment of premiums for the Primary Insurance Policies, if any, to the extent such premiums are not required to be paid by the related Mortgagors, and the fees and expenses of the Trustee and any Custodian) and shall not be entitled to reimbursement therefor except as specifically provided in Sections 3.10 and 3.14. (d) The Master Servicer's right to receive servicing compensation may not be transferred in whole or in part except in connection with the transfer of all of its responsibilities and obligations of the Master Servicer under this Agreement. (e) Notwithstanding any other provision herein, the amount of servicing compensation that the Master Servicer shall be entitled to receive for its activities hereunder for the period ending on each Distribution Date shall be reduced (but not below zero) by an amount equal to Compensating Interest (if any) for such Distribution Date. Such reduction shall be applied during such period as follows: first, to any Servicing Fee or Subservicing Fee to which the Master Servicer is entitled pursuant to Section 3.10(a)(iii) and second, to any income or gain realized from any investment of funds held in the Custodial Account or the Certificate Account to which the Master Servicer is entitled pursuant to Sections 3.07(c) or 4.01(b), respectively. In making such reduction, the Master Servicer (i) will not withdraw from the Custodial Account any such amount representing all or a portion of the Servicing Fee to which it is entitled pursuant to Section 3.10(a)(iii) and (ii) will not withdraw from the Custodial Account or Certificate Account any such amount to which it is entitled pursuant to Section 3.07(c) or 4.01(b).

  • Compensating Balance Arrangement The Funds and The Bank of New York have entered into a compensating balance arrangement, which would allow the Funds to compensate the Bank for any overdrafts by maintaining a positive cash balance the next day. Conversely, on any day the Funds maintain a positive balance, they will be allowed to overdraw the account as compensation. In both cases, Federal Reserve requirements, currently 10%, will be assessed. Therefore, all overdrafts must be compensated at 100% of the total and all positive balances will allow for an overdraft of 90% of the total. Balances for the tax-exempt portfolios will be permitted an open-ended roll forward. The taxable portfolios are closed out on a quarterly basis with no carry-over to the subsequent quarter. At the end of each quarter, the average overdraft will be assessed a fee of 1% above the actual Federal Funds rate at the end of the period. Any average positive balance will receive an earnings credit computed at the daily effective 90 day T-bill rate minus 0.25 bps on the last day of the period. Earnings credits will be offset against the Funds’ safekeeping fees. GLOBAL CUSTODY (Non-US Securities Processing) Global Safekeeping Fee Transaction Fee Countries *(in basis points)1 (U.S. Dollars)2 Argentina 17.00 55 Australia 1.50 25 Austria 3.00 40 Bahrain 50.00 140 Bangladesh 50.00 145 Belgium 2.50 35 Bermuda 17.00 70 Botswana 50.00 140 Brazil 12.00 30 Bulgaria 30.00 85 Canada 1.00 10 Chile 20.00 80 China “A” Shares 15.00 80 China “B” Shares 15.00 60 Colombia 50.00 95 Costa Rica 14.00 65 Croatia 25.00 70 Cyprus 15.00 35 Czech Republic 18.00 50 Denmark 2.00 35 Ecuador 30.00 55 Egypt 30.00 85 Estonia 10.00 60 Euromarket/Euroclear3 1.00 10 Euromarket/Clearstream 1.00 10 Finland 3.50 35 France 2.00 30 Germany 1.50 25 Ghana 50.00 140 Greece 9.00 40 Hong Kong 3.00 45 Hungary 20.00 55 Iceland 11.00 35 India 13.00 105 Indonesia 11.00 80 Ireland (Equities) 3.00 33 Ireland (Gov’t Bonds) 1.00 13 Israel 20.00 40 Italy 1.50 35 Ivory Coast 50.00 140 Jamaica 50.00 60 Japan 1.75 20 Jordan 50.00 140 Kazakhstan 53.00 140 Kenya 48.00 140 Latvia 50.00 45 Lebanon 50.00 140 Lithuania 20.00 43 Luxembourg 10.00 80 Malaysia 4.50 45 Malta 20.00 63 Mauritius 25.00 100 Mexico 6.50 30 Morocco 50.00 95 Namibia 50.00 60 Netherlands 2.00 25 New Zealand 2.00 35 Nigeria 50.00 60 Norway 2.50 35 Oman 50.00 140 Pakistan 50.00 140 Peru 50.00 83 Philippines 6.00 60 Poland 15.00 63 Portugal 5.00 50 Qatar 50.00 140 Romania 30.00 80 Russia Equities 40.00 95 Singapore 3.50 45 Slovak Republic 23.00 95 Slovenia 50.00 60 South Africa 2.50 30 South Korea 6.50 45 Spain 2.50 40 Sri Lanka 13.00 70 Swaziland 50.00 60 Sweden 2.00 30 Switzerland 2.00 35 Taiwan 10.00 60 Thailand 5.00 50 Trinidad & Tobago 50.00 53 Tunisia 50.00 53 Turkey 12.50 60 Ukraine 75.00 250 United Kingdom 0.50 10 Uruguay 75.00 83 Venezuela 50.00 140 Zambia 50.00 140 Zimbabwe 50.00 140 Not In Bank/Not in Custody Assets USA4………………………$500 per line per annum $70 per non-USD currency movement Brazil - 15 basis points for annual administrative charges Colombia - USD $600 per month minimum administration charge Ecuador - USD $800 monthly minimum per relationship Egypt - USD $400 monthly minimum per relationship Local taxes, stamp duties or other assessments, including stock exchange fees, postage and insurance for shipping, facsimile reporting, extraordinary telecommunications fees or other unusual expenses, which are unique to a country in which the Funds are investing This Amendment (the “Amendment”) dated as of November 8, 2007 between The Bank of New York (“Custodian”) and the Funds listed on Schedule II to the Custody Agreement, as amended by Exhibit A attached hereto (each a “Fund”).

  • Unused Sick Leave The accrual of unused sick leave hours is unlimited. The City and the Union commit to the evaluation and establishment of a mutually beneficial non-use of sick leave incentive and pay-out policy. Until such time that a policy is established, accumulated sick leave shall be compensated as follows: Upon retirement from the City service, an employee shall be paid sixty percent (60%) of his accumulated sick leave, with the rate of payment based upon his regular pay at the time he retires. Upon the death of an employee, his beneficiary shall be paid sixty percent (60%) of his accumulated unused sick leave, with the payment based upon his regular pay at the date of his death.

  • Sick Leave Pool The purpose of the emergency sick leave pool is to furnish additional sick days for certified staff under the negotiated agreement. This leave can only be used during the school year after the teacher has exhausted all regular accumulated sick leave and discretionary leave. Leave will be granted for catastrophic illness or injury of the employee only, on a first-come, first-ask basis. The emergency sick leave pool will be funded by the days certified staff has over the 80-day maximum sick leave this is given to each employee on July 1 of each year. All days over the 80-day accumulated sick leave the employees receive will be put into an emergency sick leave pool with an accumulation not to exceed 80 days for the pool. The maximum number of emergency sick leave pool days that may be accumulated during the school year is 20 days. A written application along with a physician’s statement documenting the nature of the catastrophic illness or injury must be sent to the building principal. The Emergency Sick Leave Pool Committee will meet within 10 calendar days after receiving the application to consider the request. The application may be sent to the building principal before the employee’s regular sick leave ends. The Emergency Sick Leave Pool Committee will consist of six members. One member from each of the four schools (“Primary, Intermediate, Middle, and High School”) the Superintendent and the building principal from the building of the applicant. All members will meet to determine ach request; however, the committee member representing the same building as the applicant will not vote. The building principal and superintendent will vote in all cases. The committee members will serve for a period of two years. The Primary and Middle School members will be elected on even calendar years and the Intermediate and the High School members will be elected on odd calendar years. If a member of the committee leaves the employment of the USD 210 before the end of his/her term, the committee will appoint a new committee member form the affected building. The committee members will be in place by September 1 of each year. The emergency sick leave bank may not be used to cover employees who are receiving pay, salary protection payments, and disability insurance payments or are eligible to receive compensation from workers’ compensation or KPERS disability.

  • Sick Leave Payout No cash payment for unused sick leave will be paid to any employee leaving the service of the Employer.

  • Sick Leave Allowance Faculty with a full-time assignment shall accrue sick leave at the rate of eight

  • Sick Leave Pay A Nurse granted sick leave shall be paid for the period of such leave at her or his regular hourly rate of pay and the number of hours thus paid shall be deducted from the accumulated sick leave credits of the Nurse.

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