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 Final Net Working Capital (as finally determined pursuant to Section 1.4(b)) is less than the Target Net Working Capital, then the Purchase Price will be adjusted such that the net effect to the Purchase Price is a decrease in an amount equal to the shortfall between the Final Net Working Capital and the Target Net Working Capital (the “Downward Adjustment Amount”) and the Escrow Agent shall, in accordance with the Escrow Agreement, pay an amount equal to the Downward Adjustment Amount from the Escrow Account to the Buyer. To the extent there is sufficient cash in the Escrow Account, the Escrow Agent shall pay the Downward Adjustment Amount in cash by wire transfer of immediately available funds to an account designated in writing by the Buyer. To the extent the Downward Adjustment Amount exceeds the amount of cash in the Escrow Account (the “Downward Adjustment Available Cash”), (i) the Escrow Agent shall pay the amount of the Downward Adjustment Available Cash in cash by wire transfer of immediately available funds to an account designated in writing by the Buyer and (ii) at Buyer’s option either (A) the Escrow Agent shall pay the excess of the Downward Adjustment Amount over the Downward Adjustment Available Cash in Buyer Shares having a value equal to such excess based on the Buyer Measuring Price as of the payment date or in Escrow Units having a value equal to such excess based on the Common Unit Price, or (B) such excess may be offset against the outstanding principal due under the Note. If Buyer elects the option under sub-clause (A) of the immediately preceding sentence and the combination of cash and Buyer Shares or Escrow Units, as applicable, in the Escrow Account is insufficient for the Escrow Agent to pay the entire Downward Adjustment Amount from the Escrow Account, the shortfall of the Downward Adjustment Amount that was not paid out of the Escrow Account, up to the Purchase Price less the portion of the Downward Adjustment Amount that was paid out of the Escrow Account, shall be paid in cash by the Sellers, on a pro rata basis according to their respective Pro Rata Shares, by bank wire transfer of immediately available funds, to an account designated in writing by the Buyer, or, at the option of the Buyer, such shortfall may be offset against the outstanding principal due under the Note. Such payments shall be made to the Buyer within five Business Days from the date on which the Final Net Working Capital is finally determined pursu...

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 fifteen (15) days written notice, and Association and the County Office have had an opportunity to discuss the situation prior to Board action.

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. 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. If the Final Working Capital (as finally determined pursuant to Section 1.07(b)) is less than the Target Working Capital, then the Purchase Price will be adjusted downward by the amount of such shortfall, and Seller shall pay or cause to be paid an amount in cash equal to such shortfall to Purchaser by wire transfer of immediately available funds to an account or accounts designated in writing by Purchaser to Seller. Any such payment is to be made within five (5) Business Days of the date on which the Final Working Capital is finally determined pursuant to Section 1.07(b).

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.