Compensatory Time Liquidation in Cash Sample Clauses

Compensatory Time Liquidation in Cash. At the discretion of the Appointing Authority, all or a portion of the compensatory bank may be liquidated in cash.
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Compensatory Time Liquidation in Cash. Once per fiscal year, the Employer may offer the employee the ability to liquidate all or a portion of the compensatory bank with thirty (30) calendar days advance written notice to the Local Union. Such liquidation shall be done in a uniform manner for all employees of the seniority unit. The Appointing Authority and the Local Union may agree in a local meet and confer to uniform liquidation on some basis other than seniority unit. An employee transferring to the service of another Appointing Authority, accepting a position not represented by the Union, separated from State service, or placed on permanent layoff, shall have unused compensatory time paid in cash. Any cash payment of unused compensatory time shall be at the average regular rate of pay received by the employee during the last three (3) years of the employee's employment or their regular rate of pay as of the date of payment, whichever is greater.
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Compensatory Time Liquidation in Cash. At the option of the Appointing Authority, all or a portion of the compensatory bank may be liquidated in cash at the beginning of the pay periods closest to January 1st, April 1st, July 1st and October 1st, with thirty (30) calendar days advance written notice to the Association. Such liquidation shall be done in a uniform manner for all supervisors of the seniority unit. Such liquidation shall be at the supervisor’s then current rate of pay. Immediately upon promotion to a supervisory position assigned to Salary Range 19 or above, the Appointing Authority may liquidate some, all or none of the supervisor’s compensatory bank. A supervisor transferring to the service of another Appointing Authority, accepting a position not represented by the Association, or placed on permanent layoff, shall have unused compensatory time paid in cash at the supervisor’s then current rate of pay. A supervisor placed on seasonal layoff may have unused compensatory time paid in cash, at the option of the supervisor. Payment of unused compensatory time for supervisors separating from State service shall be at the average regular rate of pay received by the supervisor during the last three (3) years of the supervisor's employment or his/her regular rate of pay as of the date of payment, whichever is greater.
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Compensatory Time Liquidation in Cash. At the option of the Appointing Authority, all or a portion of the compensatory bank may be liquidated in cash two (2) times a fiscal year, with thirty (30) calendar days advance written notice to the Local Union. Such liquidation shall be done in a uniform manner for all employees of the seniority unit. The Appointing Authority and the Local Union may agree in a local meet and confer to uniform liquidation on some basis other than seniority unit. An employee transferring to the service of another Appointing Authority, accepting a position not represented by the Union, separated from State service, or placed on permanent layoff, shall have unused compensatory time paid in cash. An employee placed on seasonal layoff may have unused compensatory time paid in cash, at the option of the employee. Any cash payment of unused compensatory time shall be at the average regular rate of pay received by the employee during the last three (3) years of the employee's employment or his/her regular rate of pay as of the date of payment, whichever is greater.
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Compensatory Time Liquidation in Cash. At the option of the Appointing Authority, all or a portion of the compensatory bank may be liquidated in cash on June 30 in the first year of the contract and/or on June 30 of the second year of the contract. However, employees shall have the option of carrying over a maximum of fifty (50) hours of their compensatory bank to the next fiscal year. An employee transferring to the service of another Appointing Authority, accepting a position not represented by the Union, separated from State service, or placed on permanent layoff, shall have unused compensatory time paid in cash. An employee placed on seasonal layoff may have unused compensatory time paid in cash, at the option of the employee. Any cash payment of unused compensatory time shall be at the average regular rate of pay received by the employee during the last three (3) years of the employee's employment or his/her regular rate of pay as of the date of payment, whichever is greater.
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Compensatory Time Liquidation in Cash. 1 At the option of the Appointing Authority, all or a portion of the compensatory bank may be 2 liquidated in cash on June 30 in the first year of the contract and/or on June 30 of the second 3 year of the contract. However, employees shall have the option of carrying over a maximum of 4 fifty (50) hours of their compensatory bank to the next fiscal year. 6 An employee transferring to the service of another Appointing Authority, accepting a position 7 not represented by the Union, separated from State service, or placed on permanent layoff, 8 shall have unused compensatory time paid in cash. An employee placed on seasonal layoff 9 may have unused compensatory time paid in cash, at the option of the employee. 11 Any cash payment of unused compensatory time shall be at the average regular rate of pay 12 received by the employee during the last three (3) years of the employee's employment or 13 his/her regular rate of pay as of the date of payment, whichever is greater.
Sample 1
Compensatory Time Liquidation in Cash. At the option of the Appointing Authority, all or a 5 portion of the compensatory bank may be liquidated in cash two (2) times a fiscal year, with 6 thirty (30) calendar days advance written notice to the Local Union. Such liquidation shall be
Sample 1
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Compensatory Time Liquidation in Cash. Once per fiscal year, the Employer may offer the 4 employee the ability to liquidate all or a portion of the compensatory bank with thirty (30) 5 calendar days advance written notice to the Local Union. Such liquidation shall be done in a 6 uniform manner for all employees of the seniority unit. The Appointing Authority and the 7 Local Union may agree in a local meet and confer to uniform liquidation on some basis 8 other than seniority unit.
Sample 1
Compensatory Time Liquidation in Cash. Once per fiscal year, the Employer may offer the 17 employee the ability to liquidate all or a portion of the compensatory bank with thirty (30) 18 calendar days advance written notice to the Local Union. Such liquidation shall be done in a 19 uniform manner for all employees of the seniority unit. The Appointing Authority and the Local 20 Union may agree in a local meet and confer to uniform liquidation on some basis other than 21 seniority unit. 23 An employee transferring to the service of another Appointing Authority, accepting a position 24 not represented by the Union, separated from State service, or placed on permanent layoff, 25 shall have unused compensatory time paid in cash. 1 Any cash payment of unused compensatory time shall be at the average regular rate of pay 2 received by the employee during the last three (3) years of the employee's employment or 3 his/her regular rate of pay as of the date of payment, whichever is greater.
Sample 1

Related to Compensatory Time Liquidation in Cash

  • Compensatory Time Cash Out All compensatory time must be used by June 30th of each year. If compensatory time balances are not scheduled to be used by the employee by April of each year, the supervisor will contact the employee to review their schedule. The employee’s compensatory time balance will be cashed out every June 30th or when the employee:

  • Compensatory Time Off a. An employee in the bargaining unit shall have the option to elect to take compensatory time off in lieu of cash compensation for overtime work. Compensatory time off shall be granted at the appropriate rate of overtime in accordance with Section 6 of this Article (Overtime).

  • Compensatory Time A Bargaining Unit member may choose to take compensatory time in lieu of overtime compensation if such choice is indicated during the tour of duty in which the overtime is worked. Compensatory time shall be credited to the Bargaining Unit member and accumulated at the rate of one and one-half (1 ½) hours for each overtime hour worked. Each Bargaining Unit member’s compensatory time bank shall be limited in accumulation to a maximum number of two hundred forty (240) hours. Once a Bargaining Unit member has reached the maximum hours of compensatory time as compensation for overtime hours worked, all additional overtime will be paid. The Bargaining Unit member may choose to carry over any balance into the following year. Any balance of compensatory time carried over into the following year shall count towards the two hundred forty (240) hour cap in that year. Compensatory time off must be taken at a time agreeable to the Department and the Bargaining Unit member. Approval for compensatory time off shall not be unreasonably withheld. Compensatory time off should be requested as far in advance as possible but no later than forty eight (48) hours in advance. When Bargaining Unit members request compensatory time off at least 45 calendar days in advance, the employer will, within five (5) working days of the request being made, notify the member whether or not his/her request has been approved. Approval for compensatory time shall not be unreasonably withheld. As soon as the employer notifies the member that his/her request has been approved, and if the employer determines that the shift will be filled, the employer will post the overtime assignment to cover the member’s request. If there are no volunteers to cover this need for overtime, and if the employer determines that the shift will be filled, a mandate to cover the shift will occur no less than seven (7) calendar days in advance of the beginning of the shift that needs to be covered. The employee being mandated will have the lowest number of overtime hours worked and will be notified by a supervisor. In the event the employee being mandated is on an approved leave and cannot be provided seven

  • Assuming Institution’s Liquidation of Remaining Shared-Loss Loans In the event that the Assuming Institution does not conduct a Portfolio Sale pursuant to Section 4.1, the Receiver shall have the right, exercisable in its sole and absolute discretion, to require the Assuming Institution to liquidate for cash consideration, any Shared-Loss Loans held by the Assuming Institution at any time after the date that is six months prior to the Termination Date. If the Receiver exercises its option under this Section 4.2, it must give notice in writing to the Assuming Institution, setting forth the time period within which the Assuming Institution shall be required to liquidate the Shared-Loss Loans. The Assuming Institution will comply with the Receiver’s notice and must liquidate the Shared-Loss Loans as soon as reasonably practicable by means of sealed bid sales to third parties, not including any of the Assuming Institution’s affiliates, contractors, or any affiliates of the Assuming Institution’s contractors. The selection of any financial advisor or other third party broker or sales agent retained for the liquidation of the remaining Shared-Loss Loans pursuant to this Section shall be subject to the prior approval of the Receiver, such approval not to be unreasonably withheld, delayed or conditioned.

  • Qualified Settlement Fund The Administrator shall establish a settlement fund that meets the requirements of a Qualified Settlement Fund (“QSF”) under US Treasury Regulation section 468B-1.

  • Liquidation Rights (A) Subject to Section 5.11(c)(iii)(B), upon the occurrence of any Liquidation Event, Series A Preferred Unitholders (to the extent their Series A Preferred Units have not been converted to Common Units in accordance with Section 5.11(c)(vii) prior to the occurrence of such Liquidation Event) shall be entitled to receive out of the assets of the Partnership or proceeds thereof legally available for distribution to the Partners, (i) after satisfaction of all liabilities, if any, to creditors of the Partnership, (ii) after all applicable distributions of such assets or proceeds being made to or set aside for the holders of any Series A Senior Securities then Outstanding in respect of such Liquidation Event, (iii) concurrently with any applicable distributions of such assets or proceeds being made to or set aside for holders of any Series A Parity Interests then Outstanding in respect of such Liquidation Event and (iv) before any distribution of such assets or proceeds is made to or set aside for the holders of Common Units and any other classes or series of Series A Junior Securities as to such distribution, a liquidating distribution or payment in full redemption of such Series A Preferred Units, in an amount equal to the Series A Liquidation Preference. For purposes of clarity, upon the occurrence of any Liquidation Event, (x) the holders of then Outstanding Series A Senior Securities shall be entitled to receive the applicable Liquidation Preference on such Series A Senior Securities before any distribution shall be made with respect to the Series A Preferred Units or any Series A Parity Securities and (y) the Series A Preferred Unitholders shall be entitled to the Series A Liquidation Preference per Series A Preferred Unit in cash, concurrently with any distribution made to the holders of any Series A Parity Securities and before any distribution shall be made to the holders of Common Units or any other Series A Junior Securities. Series A Preferred Holders shall not be entitled to any other amounts from the Partnership, in their capacity as Series A Preferred Holders, after they have received the Series A Liquidation Preference. The payment of the Series A Liquidation Preference in full shall be a payment in redemption of the Series A Preferred Units, such that, from and after payment of the full Series A Liquidation Preference, any such Series A Preferred Unit shall thereafter be cancelled and no longer be Outstanding.

  • Assuming Bank’s Liquidation of Remaining Single Family Shared-Loss Loans In the event that the Assuming Bank does not conduct a Portfolio Sale pursuant to Section 4.1, the Receiver shall have the right, exercisable in its sole and absolute discretion, to require the Assuming Bank to liquidate for cash consideration, any Single Family Shared-Loss Loans held by the Assuming Bank at any time after the date that is six months prior to the Termination Date. If the Receiver exercises its option under this Section 4.2, it must give notice in writing to the Assuming Bank, setting forth the time period within which the Assuming Bank shall be required to liquidate the Single Family Shared-Loss Loans. The Assuming Bank will comply with the Receiver’s notice and must liquidate the Single Family Shared-Loss Loans as soon as reasonably practicable by means of sealed bid sales to third parties, not including any of the Assuming Bank’s affiliates, contractors, or any affiliates of the Assuming Bank’s contractors. The selection of any financial advisor or other third party broker or sales agent retained for the liquidation of the remaining Single Family Shared-Loss Loans pursuant to this Section shall be subject to the prior approval of the Receiver, such approval not to be unreasonably withheld, delayed or conditioned.

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