ERIP Payment Sample Clauses

ERIP Payment a) The ERIP provides a lump sum payment for those eligible employees as an incentive to take early retirement.
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ERIP Payment a) The ERIP provides a lump sum payment for those eligible employees as an incentive to take early retirement. b) If the active employee is eligible, the applicable employee will receive the following ERIP, payment: - Age 60 with 30 years credited service = $14,000.00 - Age 61 with 30 years credited service = $13,000.00 - Age 62 with 30 years credited service = $ 12,000.00 - Age 63 with 30 years credited service = $ 4,000.00 - Age 64 with 30 years credited service = $ 2,000.00 c) For purposes of the ERIP, age and years of continuous Company service will be calculated as of the employee’s birthday in the month in which he retires. Such calculation will determine the ERIP Payment. d) Eligible employees will receive the ERIP Payment as a lump sum payment on the first pay period following retirement. e) All ERIP lump sum payments shall be subject to all applicable statutory tax deductions.

Related to ERIP Payment

  • MINIMUM MONTHLY PAYMENT We will mail you a statement every month if your account has a balance. You agree that you will pay each month not less than the minimum monthly payment by the payment due date. The minimum monthly payment will be 3.0% for Classic accounts or 2% for Platinum accounts of your outstanding balance (“New Balance”) or $25.00, whichever is greater. If your outstanding balance is $25.00 or less, you agree to pay the balance in full. You may pay in full for all your purchases and cash advances each month, or you may repay in monthly installments. We can accept late payments or partial payments, or checks, drafts, or money orders marked “payment in full” without prejudice to our rights under this Agreement, which are hereby explicitly reserved. A credit posting from a merchant or reversal of fees do not constitute a minimum payment. The minimum monthly payment may be allocated at the Credit Union’s discretion to pay off lower rate balances, such as promotional offers, before higher rate balances, such as cash advances or purchases. Payments in excess of the minimum monthly payment will be allocated first to higher rate balances, as applicable. From time to time, we may allow you to skip your minimum monthly payment due. If you choose to skip that payment, Finance Charges will continue to accrue in accordance with this Agreement. Payments received at: Rogue Credit Union, XX Xxx 0000, Xxxxxxx, XX 00000 on or before 5:00 PM Pacific Time on any business day will be credited to your Account as of that date; payments received by mail at that address after 5:00 PM Pacific Time or on a weekend will be posted to your Account as of the next business day. Payment crediting to your Account may be delayed up to five days if your payment is received by mail at any other address or not accompanied by the remittance portion of your Account statement.

  • Longevity Payment 11.4-1 Longevity Payments shall be made on the June 30 Payroll check.

  • Monthly Payment City shall make monthly payments, based on invoices received, for services satisfactorily performed, and for authorized reimbursable costs incurred. City shall have 30 days from the receipt of an invoice that complies with all of the requirements above to pay Consultant.

  • Lump Sum Payment Upon award of the contract for this improvement, the LA will pay to the STATE, in lump sum, an amount equal to 80% of the LA’s estimated obligation incurred under this Agreement, and will pay to the STATE the remainder of the LA’s obligation (including any nonparticipating costs) in a lump sum, upon completion of the project based upon final costs. Method B - Monthly Payments. Upon award of the contract for this improvement, the LA will pay to the STATE, a specified amount each month for an estimated period of months, or until 80% of the LA’s estimated obligation under the provisions of the Agreement has been paid, and will pay to the STATE the remainder of the LA’s obligation (including any nonparticipating costs) in a lump sum, upon completion of the project based upon final costs.

  • Interim payment At the end of each of the periods indicated in Annex I the Contractor shall submit to the Agency a formal request for payment accompanied by those of the following documents which are provided for in the Special Conditions: ⮚ an interim technical report in accordance with the instructions laid down in Annex I; ⮚ the relevant invoices indicating the reference number of the Contract and of the order or specific contract to which they refer;

  • Down Payment The Mortgagor has contributed at least 5% of the purchase price for the Mortgaged Property with his/her own funds.

  • Premium Payment The Bank shall pay any premiums due on the Policy.

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