COMPENSATORY PAYMENT. For any first lien Subserviced Loan in breach of the GSE foreclosure timelines and not subject to allowable delays, the Base Servicing Fee for that loan, for the following month, shall be reduced by 30% provided that:
(1) If the loan becomes REO or cures, the subservicing fee will revert to the base subservicing fee;
(2) Timelines will be based on the greater of Xxxxxx Xxx / Freddie Mac timelines in effect at the relevant time; and,
(3) Time shall be measured from the greater of the Transfer Date plus 120 days or the Due Date of Last Paid Installment.
COMPENSATORY PAYMENT. 1. When an employee is requested by his/her immediate supervisor and agrees to work hours longer than those to which he/she is regularly obligated by this Agreement, compensatory payment or time shall be granted as determined by the immediate supervisor.
2. If compensatory payment is approved by the supervisor, the employee will be paid as applicable in Appendix C.7.
3. Accrual of approved time for payroll purposes will be on an hourly basis rounded to the nearest quarter hour.
4. Compensatory payment/time will not be authorized for:
a. routine lesson plan development and grading of papers,
b. attending IEPC meetings, or
c. parent contacts and/or parent conferences.
5. All compensatory time must be recorded on a standard form that differentiates between hours of supervision and instruction. Logs will be turned in within 60 days of the first entry.
6. Compensatory time must be used in the year in which it is earned, except that a maximum of twelve (12) hours may be reserved and transferred to the next school year.
7. Hours in excess of twelve (12) will be made not later than June 30 of the current school year.
8. The restrictions established in Article 16, Section B., 8.b. shall not apply to compensatory time.
9. In the event of a transfer from one building to another, the compensatory time accumulated shall follow the employee.
10. Each nurse will receive one full day (7.25 hours) of substitute coverage during the first two months of school for recordkeeping.
COMPENSATORY PAYMENT. 1. When an employee is requested by his/her immediate supervisor and agrees to work hours longer than those, which he/she is regularly obligated to work by this agreement, compensatory payment or time shall be granted as determined by the immediate supervisor. The employee will be told in advance by the administrator or designee, if they are to receive compensatory time (except for transfers, see #9.) or payment.
2. All compensatory time must be recorded on the standard District form.
3. If compensatory payment is approved by the supervisor, the employee will be paid an hourly rate calculated by determining an hourly rate using his/her current pay step and level.
4. Compensatory time for actual hours-worked under 40 in a week will have a value of one hour for each additional hour worked. Compensatory time for actual hours worked over 40 hours in a week will have a value of 1½ hours for each hour worked.
5. Compensatory time off will be scheduled by mutual agreement of the administrator and the employee with five (5)-work days notice, except in event of emergency, and subject to staffing levels.
6. Compensatory time may be used in increments of 15 minutes or more.
7. Upon return from Spring Break (180 day programs) or June 30 (230 day programs), requests for accumulated comp time payout at the end of the school year must be made. In the absence of a timely request from the employee, hours up to 21 will be rolled over to the next school year.
8. Hours in excess of twenty-one (21) are to be paid off at the established rate. Payment will be made no later than the last pay date of the current school year.
9. In the event of a transfer from one building to another, the compensatory time accumulated shall be paid to the employee the first pay period after transfer.
COMPENSATORY PAYMENT. 13.1 In the event that this Agreement is terminated:
13.1.1 by the Company pursuant to Clause 12.1.2;
13.1.2 by Bidder pursuant to Clauses 12.1.4(a), (b) or (e); or
13.1.3 by Bidder or the Company pursuant to Clause 12.1.6 or by Bidder pursuant to Clauses 12.1.3(c), 12.1.4(d) or 12.1.4(f) and (i) any person shall have publicly disclosed a bona fide Acquisition Proposal after the date hereof and prior to such termination, which Acquisition Proposal has not been publicly withdrawn prior to such termination and (ii) within twelve months of such termination, an Acquisition Proposal (which, for the avoidance of doubt, may be a different Acquisition Proposal than the one outstanding as of the termination date) is announced and becomes or is declared wholly unconditional or otherwise becomes effective or is completed anytime thereafter;
13.2 then, in any such event under Clause 13.1, the Company (or the successor to, or acquirer of, the Company) will pay to Bidder, an amount equal to USD 8,773,855 (inclusive of any applicable VAT) (the “Compensatory Payment”) (x) in the case of Clause 13.1.1, substantially concurrently with such termination, (y) in the case of Clause 13.1.2, within two Business Days following such termination and (z) in the case of Clause 13.1.3, within two Business Days after the Acquisition Proposal becomes or is declared wholly unconditional or otherwise becomes effective or is completed. The parties acknowledge and agree that: (i) at the date of this Agreement it is not possible to ascertain the amount of the overall loss that the Bidder may incur in the circumstances in which the Compensatory Payment is payable; and (ii) the Compensatory Payment represents a genuine estimate by the parties of the amount of the overall loss that the Bidder would incur in such circumstances and is proportionate to the legitimate interests of Acquirers in the enforcement of the obligations pursuant to Clause 13. All sums payable under this Clause 13 shall be paid in the form of an electronic funds transfer for same day value to such bank as may be notified to the Company by Bidder and shall be paid in full free from any deduction or withholding whatsoever and without regard to any Lien, right of set-off, counter-claim or otherwise. The parties acknowledge and agree that in no event shall the Company be required to pay the Compensatory Payment on more than one occasion to the Bidder, whether or not the Compensatory Payment may be payable under more than one prov...
COMPENSATORY PAYMENT. If a principal payment is made in Principal Shares and the weighted-average volume price for the Common Stock on Nasdaq as reported by Bloomberg for the three Business Day period ending on (and including) the date of effectiveness (the “Effective Date”) of the applicable Registration Statement (the “Post-Issuance Average Price”) is less than the Calculation Price, then the Company shall pay to each holder of the Notes an amount equal to (i) the difference between the Calculation Price and the Post-Issuance Average Price, multiplied by (ii) the number of Principal Shares issued on the applicable Quarterly Payment Date. Such amount shall be paid to each holder of the Notes in cash not later than 10 Business Days following the Effective Date of the applicable Registration Statement.”
COMPENSATORY PAYMENT. If an interest payment is made in Interest Shares and the Post-Issuance Average Price of the applicable Interest Shares is less than the Calculation Price, then the Company shall pay to each holder of the Notes an amount equal to (i) the difference between the Calculation Price and the Post-Issuance Average Price, multiplied by (ii) the number of Interest Shares issued on the applicable Quarterly Payment Date. Such amount shall be paid to each holder of the Notes in cash not later than 10 Business Days following the Effective Date of the applicable Registration Statement.”
COMPENSATORY PAYMENT.
1. When an employee is requested by his/her immediate supervisor and agrees to work hours longer than those which he/she is regularly obligated to work by this Agreement, compensatory payment shall be granted.
2. If compensatory payment is approved by the supervisor, the employee will be paid an hourly rate calculated by determining an hourly rate using his/her current pay step and level.
3. Compensatory time for actual hours-worked under 40 in a week will have a value of one hour for each additional hour worked. Compensatory time for actual hours worked over 40 hours in a week will have a value of 1½ hours for each hour worked.
COMPENSATORY PAYMENT. If a principal payment is made in Principal Shares and (i) the date of effectiveness (the "Effective Date") of the applicable Registration Statement is more than 10 Business Days after the relevant Quarterly Payment Date and (ii) the weighted-average volume price for the Common Stock on Nasdaq as reported by Bloomberg for the three Business Day period ending on (and including) the Effective Date (the "Post-Issuance Average Price") is less than the Calculation Price, then the Company shall pay to each holder of the Notes an amount equal to (i) the difference between the Calculation Price and the Post-Issuance Average Price, multiplied by (ii) the number of Principal Shares issued on the applicable Quarterly Payment Date. Such amount shall be paid to each holder of the Notes in cash not later than 10 Business Days following the Effective Date of the applicable Registration Statement."
COMPENSATORY PAYMENT. If an interest payment is made in Interest Shares and (i) the Effective Date of the applicable Registration Statement is more than 10 Business Days after the relevant Quarterly Payment Date and (ii) the Post-Issuance Average Price of the applicable Interest Shares is less than the Calculation Price, then the Company shall pay to each holder of the Notes an amount equal to (i) the difference between the Calculation Price and the Post-Issuance Average Price, multiplied by (ii) the number of Interest Shares issued on the applicable Quarterly Payment Date. Such amount shall be paid to each holder of the Notes in cash not later than 10 Business Days following the Effective Date of the applicable Registration Statement."
COMPENSATORY PAYMENT. 1. When an employee is requested by his/her immediate supervisor and agrees to work hours longer than those to which he/she is regularly obligated by this Agreement, compensatory payment or time shall be granted as determined by the immediate supervisor.
2. If compensatory payment is approved by the supervisor, the employee will be paid as applicable in Appendix C, Section 7.
3. Accrual of approved time for payroll purposes will be on an hourly basis rounded to the nearest quarter hour.
4. Accrual of approved compensatory time will be on an hour for hour basis rounded to the nearest quarter hour.
5. Compensatory payment/time will not be authorized for:
a. routine lesson plan development and grading of papers,
b. attending IEPC meetings, or
c. parent contacts and/or parent conferences.
6. All compensatory time must be recorded on a standard form which differentiates between hours of supervision and instruction.
7. Compensatory time must be used in the year in which it is earned, except that a maximum of twelve (12) hours may be reserved and transferred to the next school year.
8. Hours in excess of twelve (12) are to be paid off at the established rate in the then applicable Collective Bargaining Agreement. Payment will be made not later than June 30th of the current school year.
9. The restrictions established in Article 17, Section C., 1.e. shall not apply to compensatory time.
10. In the event of a transfer from one building to another, the compensatory time accumulated shall follow the employee.
