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Grandfather Provision Sample Clauses

Grandfather Provision. (a) For the purposes of determining whether a Person is an Acquiring Person and interpreting the definition of Acquiring Person, a Person shall not be and shall not be deemed to be an Acquiring Person if such Person: (i) is the Beneficial Owner of 20% or more of the outstanding Voting Shares of the Corporation determined as at the Record Time; or (ii) becomes the Beneficial Owner of 20% or more of the outstanding Voting Shares of the Corporation after the Record Time and such Person’s Beneficial Ownership of Voting Shares of the Corporation does not exceed the number of Voting Shares of the Corporation Beneficially Owned by such Person immediately prior to the Record Time by more than 2% of the then issued and outstanding Voting Shares of the Corporation; provided, however, that this exception shall not be, and shall cease to be, applicable to a Person in the event that such Person shall, after the Record Time, become the Beneficial Owner of additional Voting Shares of the Corporation constituting more than 2% of the Voting Shares of the Corporation then outstanding other than pursuant to Permitted Bid Acquisitions, through Exempt Acquisitions, Voting Share Reductions or Pro-rata Acquisitions; and provided further that, in the event that this exception shall cease to be applicable to a Person as aforesaid, such a person shall be and shall be deemed to be an Acquiring Person as at and from the time that this exception shall cease to be applicable.
Grandfather ProvisionAny employee in a classification that was in effect prior to June 1, 1991, who would be adversely affected by the 2011 collective agreement definitions (a), (b) and (c), will be placed in the classification corresponding to his wage rate regardless of these definitions.
Grandfather ProvisionThe parties agree that any current non-degreed vocational instructor who, under previous salary schedule placement guidelines and/or practices, attained salary schedule placement of BA + 135 with Masters as of the 2005-06 school year, shall be grandfathered at that education placement and shall be able to continue at that placement so long as employed with the Marysville School District or until the Association and District mutually agree at a later time to void or modify this grandfather commitment.
Grandfather ProvisionAll regular full-time employees who hired into the County prior to December 31, 2012, having completed four (4) years of continuous permanent employment prior to December 1st of each calendar year shall be eligible to receive a longevity bonus for service with the County: (1) The longevity bonus shall be computed as a percentage of the employee's annual base wage. (2) Base wage shall be that which an employee is being paid on the first regularly scheduled day of the fiscal year in which a longevity bonus is due, and shall not include overtime pay, premium pay, uniform allowance, per diem or travel allowance, or any other compensation. (3) No longevity payment, as above scheduled, shall be made for that portion of an employee's base wage which is in excess of Twenty Thousand Dollars ($20,000.00). (4) Employees hired into Xxxxxx County on or after December 31, 2012, shall not be eligible for longevity payments.
Grandfather ProvisionNotwithstanding the foregoing, any person who has achieved 'A' List status as of June 30, 2006 shall automatically qualify for the 'A' List as of July 1, 2009.
Grandfather ProvisionSeller shall be incorporated into the genealogy system for determining commissions within Purchaser's systems. Two Seller representatives (Xxxxx Xxxx and Xxxxxx Xxxxxx) will be placed at the Fiji Double Diamond level. (Seller shall not be able to obtain any dream bonuses because of this Grandfather Provision. If Seller built out the structure to qualify for the dream bonuses, without the benefit of this Grandfather Provision, then such bonuses would be available to Seller.) This will enable Seller to receive regular commissions on the sales of distributors in Seller's downlines along with all distributors coming over as part of this Agreement. Each distributor will be in a like position as they were in the Escape International structure. Commissions will be calculated using Purchaser's regular commission structure and at regular intervals.
Grandfather Provision. The application of the provisions of this Section of the Plan shall not cause the maximum permissible benefit under Code Section 415 for any Participant to be less than the Participant’s accrued benefit under all the defined benefit plans of his Employer (or a predecessor employer) as of the end of the last Limitation Year beginning before July 1, 2007 under provisions of the plans that were bother adopted and in effect before April 5, 2007.
Grandfather ProvisionThe provisions of the Fair Share Clause shall not apply to any person who was a member of the bargaining unit and did not belong to the Union as of the effective date of July 1, 1988, except and unless should those persons at some future date voluntarily agree to take out membership in the Union.
Grandfather ProvisionAll regular full-time employees who hired into the County prior to December 31, 2012, having completed four (4) years of continuous permanent employment prior to December 1st of each calendar year, shall be eligible to receive a longevity bonus for service with the County. (1) Employees hired into Xxxxxx County on or after December 31, 2012, shall not be eligible for longevity payments.
Grandfather Provision. (a) For the purposes of determining whether a Person is an Acquiring Person and interpreting the definition of Acquiring Person, a Person shall not be and shall not be deemed to be an Acquiring Person if such Person (a "Grandfathered Person"): (i) is the Beneficial Owner of 20% or more of the outstanding Voting Shares of the Corporation determined as at the Record Time; or (ii) becomes the Beneficial Owner of 20% or more of the outstanding Voting Shares of the Corporation after the Record Time and such Person's Beneficial ownership of Voting Shares of the Corporation does not exceed the number of Voting Shares of the Corporation Beneficially Owned by such Person immediately prior to the Record Time by more than 2% of the then issued and outstanding Voting Shares of the Corporation; provided, however, that this exception shall not be, and shall cease to be, applicable to a Grandfathered Person in the event that a Grandfathered Person shall, after the Record Time, become the Beneficial Owner of additional Voting Shares of the Corporation constituting more than 2% of the Voting Shares of the Corporation then outstanding other than pursuant to Permitted Bid Acquisitions or through Exempt Acquisitions or Pro Rata Acquisitions; provided further, however, that such Grandfathered Person shall not become an Acquiring Person as a result of an acquisition or redemption of Voting Shares of the Corporation by the Corporation or a Subsidiary of the Corporation; and provided further that, in the event that this exception shall cease to be applicable to a Grandfathered Person as aforesaid, such a Grandfathered Person shall be and shall be deemed to be an Acquiring Person as at and from the time that this exception shall not be so applicable. (b) For the purposes of determining whether a Person is entitled to make a Permitted Bid, a Person shall not be restricted from making a Permitted Bid under clause 1.1(9w)(iii) if such Person is, at the Record Time, the Beneficial Owner of more than 5% of the outstanding Voting Shares of the Corporation; provided, however, that this exception shall not be, and shall cease to be, applicable to any such Person in the event that such Person shall become, after the Record Time: (i) the Beneficial Owner of an additional 2% or more of the Voting Shares of the Corporation other than through Permitted Bid Acquisitions, Exempt Acquisitions or Pro Rata Acquisitions; or (ii) an Acquiring Person.