Downgrade/Bump Sample Clauses

Downgrade/Bump. The term downgrade or bump may be used interchangeably throughout this Agreement. A downgrade shall be defined as a change in job classification to which the top rate of pay is the same or less than the top rate of pay of the employee's present classification, due to a layoff. A downgrade shall only be allowed to a previously held position in the Fire Department Unit.
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Downgrade/Bump if the employee cannot bump under (1), bump the least senior employee in a classification on a lower paid wage schedule who is in the same Cluster as the employee to be laid off, provided the employee has sufficient qualifications to perform the job into which he or she is bumping without additional training.

Related to Downgrade/Bump

  • Downgrade Event If Downgrade Event is indicated as Applicable on the Cover Sheet, if at any time there occurs a Downgrade Event in respect of a Party, then the other Party may require Performance Assurance in an amount determined by that Party in a commercially reasonable manner. Failure to provide such Performance Assurance to the requesting Party within three Business Days of request is an Event of Default.

  • Downgrades Securities may not be purchased based on an S&P, Xxxxx’x, Fitch or another NRSRO’s rating where the applicable NRSRO has announced publicly that it is examining the relevant rating for a possible downgrade. The foregoing limitation shall not apply to securities rated A-1+ by S&P. In the event that a security held falls below the minimum guideline as detailed in this paragraph G as a result of being downgraded by an NRSRO, JPMorgan shall notify the Lender and await instructions as to whether the affected security should be sold. In the absence of a contrary instruction, JPMorgan shall take no action in respect of the affected security. In no event shall JPMorgan be liable for any consequences of a rating downgrade, including, but not limited to, retention of the affected security in the absence of a sale instruction from Lender. Lender acknowledges that any loss from a sale shall be for its account.

  • Downgrade You have no rights to use earlier versions of the software under this license and Microsoft is not obligated to supply earlier versions to you.

  • Ratings No “nationally recognized statistical rating organization” as such term is defined for purposes of Rule 436(g)(2) (i) has imposed (or has informed the Company that it is considering imposing) any condition (financial or otherwise) on the Company’s retaining any rating assigned to the Company or any securities of the Company or (ii) has indicated to the Company that it is considering any of the actions described in Section 7(c)(ii) hereof.

  • Moody’s Xxxxx’x Investors Service, Inc. and its successors.

  • Voluntary Downgrade 9.1 If You decide to rent a Vehicle of a lesser class than the one booked You are not entitled to a refund.

  • PRIORITY RATING If so identified, this Contract is a "rated order" certified for national defense, emergency preparedness, and energy program use, and SELLER shall follow all the requirements of the Defense Priorities and Allocation System Regulation (15 C.F.R. Part 700).

  • Rating The Notes can be issued without the requirement that they have any rating from a nationally recognized statistical rating organization.

  • Performance Rating Describes the Educator’s performance on each performance standard and overall. There shall be four performance ratings:  Exemplary: the Educator’s performance consistently and significantly exceeds the requirements of a standard or overall. The rating of exemplary on a standard indicates that practice significantly exceeds proficient and could serve as a model of practice on that standard district-wide.  Proficient: the Educator’s performance fully and consistently meets the requirements of a standard or overall. Proficient practice is understood to be fully satisfactory.

  • WITHIN GRADE INCREASES Section 1. This Article and appropriate law, regulation or procedure governs within grade step increases.

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