Designation of Start-up Day The Closing Date is hereby designated as the "start-up day" of each of the Upper-Tier REMIC and Lower-Tier REMIC within the meaning of Section 860G(a)(9) of the Code.
Termination of Stopped Work If a stop work order is not canceled and the work covered by such order is terminated for default or convenience, the reasonable costs resulting from the stop work order shall be allowed by adjustment or otherwise.
Confirmation of Status The parties confirm that the Asset Representations Reviewer is not responsible for (a) reviewing the Receivables for compliance with the representations and warranties under the Transaction Documents, except as described in this Agreement, or (b) determining whether noncompliance with the representations or warranties constitutes a breach of the Transaction Documents.
REDUCTION OF STAFF A. In the event that the Board decides to reduce the number of employees through layoff of employment, or to reduce the number of teachers in a given subject area, field or program, or eliminate or consolidate a position or positions, the Board shall lay off last those teachers with a Michigan Teaching Certificate or appropriate credential having longest service in the District and who are qualified to teach the positions remaining. 1. The phrases "longest service in the District" or "number of years in the system" shall be computed from the last day of hire and shall not be interrupted by leaves of absence approved by the Board or transfer to administrative positions, subject, however, to Paragraph H(4). 2. Qualified teachers are those teachers who meet the minimum requirements under ESEA/NCLB and the Michigan Department of Education. 3. In cases where teachers are equally qualified and have the same number of years in the system, the Board shall have the right to determine who is laid off, provided, however, such action shall not be contrary to the priorities established under the Teachers' Tenure Act or its successor law. 4. The Board shall give twenty-one (21) or more calendar days' notice of such layoff to the Association and to the employees involved. B. A teacher laid off pursuant to this Article shall not be entitled to pay for fringe benefits while on layoff, it being understood that layoff will terminate individual contracts. A teacher that has taught the full school year and is laid off at the end of the year will continue to be covered by health, vision, and dental insurance for the months of June, July and August as per Article 15(E). C. The Board shall have no obligation to recall any nontenure teacher laid off pursuant to this Article or to recall any tenured teacher who has been laid off for three (3) or more years. D. Tenure teachers shall be recalled in the opposite manner as described in Paragraph A for layoff. E. The Board shall give written notice of recall from layoff by sending a registered or certified letter to said teacher at his/her last known address. It shall be the responsibility of the teacher to notify the Board of any change in address. The teacher's address, as it appears in the Board's records, shall be conclusive when used in connection with layoffs, recall, or any other notice to the teacher. If a teacher fails to provide notice of intent to return within five (5) days from the date of receipt of the written recall document, said teacher shall be considered a voluntary quit or resignation. If a teacher fails to report for work within five (5) days of receipt of notification to report to work, unless an extension is granted in writing by the Board, said teacher shall be considered a voluntary quit and shall thereby completely terminate the individual employment contract and any other employment relationship with the Board. F. In the event of a necessary reduction in staff, the Board agrees to grant requests for voluntary leaves of absence provided that the teaching position(s) or the leave applicant(s) can be filled by another bargaining unit member. Such leave of absence shall not exceed one (1) school year. G. The Board shall publish a seniority list and distribute it to all teachers by October 15 of each year. 1. Teachers shall be listed in order, starting with the teacher with the longest service in the bargaining unit. 2. The seniority list shall also list the teacher's longevity credit and certification with majors/minors. H. Seniority shall accrue from the first day of work as a bargaining unit member. 1. A part-time teacher shall accrue seniority on a prorated basis. 2. A teacher in a job-share position, under the terms of Article 18, shall accrue seniority as if employed full time. 3. A teacher on an approved unpaid leave of absence under terms of this Agreement shall not accrue seniority while on leave, except as provided in this Agreement. 4. Administrators shall not accrue seniority while in administrative positions. If a teacher becomes an administrator and later returns to the bargaining unit, he/she shall be reinstated with the seniority he/she had at the time he/she left the bargaining unit. I. Seniority shall be lost upon severance of the employment relationship between the teacher and the District.
Incorporation of Standard Terms Except as otherwise provided herein, all of the provisions of the Standard Terms are hereby incorporated herein by reference in their entirety, and this Series Supplement and the Standard Terms shall form a single agreement between the parties. In the event of any inconsistency between the provisions of this Series Supplement and the provisions of the Standard Terms, the provisions of this Series Supplement will control with respect to the Series 2001-3 Certificates and the transactions described herein.
RESERVATION OF STOCK, ETC ISSUABLE ON EXERCISE OF WARRANT; FINANCIAL STATEMENTS. The Company will at all times reserve and keep available, solely for issuance and delivery on the exercise of the Warrants, all shares of Common Stock (or Other Securities) from time to time issuable on the exercise of the Warrant. This Warrant entitles the Holder hereof to receive copies of all financial and other information distributed or required to be distributed to the holders of the Company's Common Stock.
Termination of Multiple REMICs If the REMIC Administrator makes two or more separate REMIC elections, the applicable REMIC shall be terminated on the earlier of the Final Distribution Date and the date on which it is deemed to receive the last deemed distributions on the related Uncertificated REMIC Regular Interests and the last distribution due on the Certificates is made.
Aggregation of Stock All shares of Registrable Securities held or acquired by Affiliates shall be aggregated together for the purpose of determining the availability of any rights under this Agreement and such Affiliated persons may apportion such rights as among themselves in any manner they deem appropriate.
Rotation of Shifts Employees required to work rotating shifts (day, evening and night duty) shall be scheduled in such a way as to, as equitably as possible, assign the rotation equally. This does not preclude an Employee from being continuously assigned to an evening or night shift at the Employee’s request where such continuing assignment is acceptable to the Employer.
Recognition of Stewards The Employer recognizes employees who are designated by the Union as stewards to act on behalf of the employees.
