Credit Basis. An employee so electing to receive compensatory time shall be credited with one and one-half hour (1 ½) hours of compensatory time for each one (1) hour worked in excess of forty (40) hours per week. Employees may accrue no more than 240 hours of compensatory time. All overtime worked after an employee has accrued 240 hours of compensatory time shall be paid for at the rate of one and one half hour (1 ½) times the regular hourly rate.
Credit Basis. The Contractor shall have the right to conduct all or a part of its business on a credit basis; provided, however, that the risk of such operation, including but not limited to bad debts or loss from theft, shall be borne solely by the Contractor, and the Contractor shall include any charge the Contractor customarily makes for goods and services even though the Contractor fails to collect such a charge.
Credit Basis. Prerequisite for the obligation to deliver is the creditworthiness of the Buyer. If, after conclusion of the contract, the Seller receives information which makes the granting of a credit in the amount resulting from the order appear to be not unobjectionable, or if facts arise which give rise to doubts in this respect, in particular a considerable deterioration in the financial situation (execution, suspension of payments, settlement, insolvency, liquidation, transfer of business, pledging or assignment as security of goods, inventories or receivables, etc.) or if the Buyer does not pay due invoices despite reminders, the Seller shall be entitled to demand advance payment or security or cash payment without regard to conflicting earlier agreements or to withdraw from the contract or to claim damages for non-performance. Under the same conditions, the Seller shall be entitled at any time to demand the return of the goods subject to retention of title against offsetting of the amount realized. The Buyer may be prohibited from reselling the goods subject to retention of title.
