Downward Adjustment Sample Clauses

Downward Adjustment. When it is agreed that an entire classification shall be reallocated to a lower salary classification, all incumbents serving therein shall be continued at their former rate of pay until future salary adjustments provide a salary increase for those incumbents in the new salary classification. Any other downward adjustment of salary shall be considered a demotion, and shall take place only in accordance with the layoff or disciplinary procedures of this Agreement and applicable law.

Downward Adjustment. Any downward adjustment of any position or class of positions shall be considered a demotion and shall be subject to negotiations between the District and CSEA.

Downward Adjustment. If the Net Adjustment Amount is negative, then the Merger Consideration will be adjusted downward by the amount of the absolute value of such Net Adjustment Amount (the “Downward Adjustment Amount”), and the Seller Representative and the Buyer Representative shall promptly (but in any event within three (3) Business Days from the date on which the Net Adjustment Amount is finally determined pursuant to Section 2.9(b)) deliver a joint written instruction to the Escrow Agent directing the Escrow Agent to release (i) to the Buyer Representative an amount equal to the Downward Adjustment Amount from the Purchase Price Adjustment Escrow Amount held in the Escrow Account to the account(s) designated in writing by the Buyer Representative to the Seller Representative and the Escrow Agent and (ii) to the Designated Account an amount equal to the balance of the Purchase Price Adjustment Escrow Amount from the Escrow Account and Seller Representative shall thereafter distribute such amount to the Sellers in accordance with the Merger Consideration Letter and provide evidence thereof to the Buyer Representative in form and substance acceptable to the Buyer Representative); provided that if the Seller Representative and the Buyer Representative fail to timely deliver the joint written instruction to the Escrow Agent, either the Seller Representative or the Buyer Representative shall have the right to deliver to the Escrow Agent and the Buyer Representative or the Seller Representative, as applicable, collectively (i.e., the Buyer Representative or the Seller Representative, as applicable, and the Escrow Agent shall be recipients of a single written notice addressed to both of them) the arbitration award rendered by the Arbitration Firm in accordance with Section 2.9(b) setting forth the final determination of the Net Adjustment Amount and the amount of the Purchase Price Adjustment Escrow Amount to be disbursed and to whom such amount is to be disbursed, and the Escrow Agent shall disburse all or part of the Purchase Price Adjustment Escrow Amount in accordance with such arbitration award.

Downward Adjustment. Downward adjustment of any bargaining unit employee's position or class of positions shall be considered a demotion and shall not take place until the employee is given twenty (20) working days written notice, and the Association and the County Office have had an opportunity to discuss the situation prior to Board action.

Downward Adjustment. 19.6.1 Any involuntary downward adjustment of any position or class of positions shall be considered a demotion. 19.6.2 Any voluntary downward adjustment of any position or class of positions shall not be considered a demotion. A voluntary downward adjustment of a position in a “closely related classification”, as defined in Article 2.3, will be placed at the same step as the position from which they are moving and will be eligible for annual step increase as long as they have been in the current and related position per Article 15.2.1. A voluntary downward adjustment of any position or class of positions that is not considered a “closely related classification”, as defined in Article 2.3, will be placed at steps 1-4 of the salary schedule as justified in the position description through training, education and/or experience.

Downward Adjustment. In the event that the pay range for a classification is adjusted downward pursuant to this Section 8.4 (Market-Based Adjustments), the pay rate of employees in that classification will remain unchanged. If the employee’s rate is over the maximum of the new range, the employee’s pay will be frozen and the employee will not receive any increase on base pay until the top of the new range has exceeded the frozen rate of pay.

Downward Adjustment. If Final Working Capital (as finally determined pursuant to this Section 1.6) is less than the Working Capital Estimate, then the Purchase Price will be adjusted downward by the amount of such shortfall (the “Downward Adjustment Amount”), and the Seller Representative, on behalf of the Sellers, shall pay to Purchaser an amount equal to the Downward Adjustment Amount within five (5) Business Days from the date on which the Final Working Capital is finally determined pursuant to this Section 1.6.

Downward Adjustment. No position shall be adjusted downward during the life of this Agreement.

Downward Adjustment. If the Final Purchase Price (as finally determined pursuant to Section 2.2(b)) is less than the Estimated Purchase Price, then Seller shall, within ten (10) days from the date on which the Final Purchase Price is finally determined, pay to Purchaser an amount in cash equal to the amount of such shortfall.