Service Credit Time spent on authorized leaves of absence without pay will count towards seniority, including service credit for annual step increases, layoff purposes, and for computing the amount of vacation leave, provided the employee is properly returned to service and is not serving a probationary period. Employees that do not return to service from a personal leave of absence shall not receive service credit for the time spent on such leave.
Service Credits Employees on pregnancy leave shall be entitled to normal accumulation of service credits for the duration of the pregnancy leave.
Past Service Credit Executive shall be given full credit for Executive's prior years of service with Company for all purposes under the plans, programs, policies, agreements and practices covering Executive pursuant to this Section.
Change in Credit and Collection Policy At least thirty (30) days prior to the effectiveness of any material change in or material amendment to the Credit and Collection Policy, a copy of the Credit and Collection Policy then in effect and a notice (A) indicating such change or amendment, and (B) if such proposed change or amendment would be reasonably likely to adversely affect the collectibility of the Receivables or decrease the credit quality of any newly created Receivables, requesting the Agent's consent thereto.
Sales on Credit If Collateral Agent sells any of the Collateral upon credit, Grantor will be credited only with payments actually made by purchaser and received by Collateral Agent and applied to indebtedness of the purchaser. In the event the purchaser fails to pay for the Collateral, Collateral Agent may resell the Collateral and Grantor shall be credited with proceeds of the sale.
Rent Credit Except as hereinafter set forth, Tenant shall be entitled to a credit against the Base Rent payable under the Amended Lease, which credit shall be in the aggregate amount of Three Hundred Fifty-Six Thousand Eight Hundred Fifty and 96/100 Dollars ($356,850.96) (the “Rent Credit”). Subject to the provisions of this Paragraph 4, equal portions of the Rent Credit, each in an amount equal to Twenty-Nine Thousand Seven Hundred Thirty Seven and 58/100 Dollars ($29,737.58), shall be applied on the first day of each month beginning on January 1, 2013 and continuing until December 1, 2013, inclusive, against Tenant’s obligation to pay monthly installments of Base Rent accruing hereunder from and after the Effective Date. The Rent Credit granted under this Paragraph 4 is solely for the benefit of Xxxxx Electric Co., a Delaware corporation, and any Tenant Affiliate, and shall not be transferable to any assignee or subtenant other than a Tenant Affiliate. Tenant acknowledges that (a) the Rent Credit is being provided as an inducement to Tenant to extend the term of the Lease pursuant to this Third Amendment and (b) in the absence of such extension, Tenant would have paid substantially higher Base Rent under the terms of the Lease for the period from the Effective Date through the Original Term Expiration Date. Accordingly, Tenant agrees that (i) if Tenant commits a default of any of its obligations under the Amended Lease which is not cured within any applicable cure period set forth in Paragraph 13.1 of the Original Lease (“Breach”) prior to December 1, 2013, then, unless such Breach is cured prior to the time, if any, that Landlord terminates the Amended Lease pursuant to Paragraph 13.2 of the Original Lease, Tenant shall have no right to apply any portion of the Rent Credit against Tenant’s obligation to pay Base Rent accruing after such default becomes a Breach; and (ii) if Landlord terminates the Amended Lease pursuant to Paragraph 13.2 of the Original Lease as a result of a Breach occurring on or before the Original Term Expiration Date, then the damages recoverable by Landlord shall include that portion of the Rent Credit credited hereunder against Tenant’s obligation to pay Base Rent prior to such termination.
No Other Employment; Minimum Time Commitment During the Period of Employment, the Executive shall (i) devote substantially all of the Executive’s business time, energy and skill to the performance of the Executive’s duties for the Company, (ii) perform such duties in a faithful, effective and efficient manner to the best of his abilities, and (iii) hold no other employment without the express written approval of the Board. The Executive’s service on the boards of directors (or similar body) of other business entities is subject to the approval of the Board. The Company shall have the right to require the Executive to resign from any board or similar body (including, without limitation, any association, corporate, civic or charitable board or similar body) which he may then serve if the Board reasonably determines that the Executive’s service on such board or body interferes with the effective discharge of the Executive’s duties and responsibilities to the Company or that any business related to such service is then in competition with any business of the Company or any of its Affiliates, successors or assigns.
Time Commitment The Advisor shall, and shall cause its Affiliates and their respective employees, officers and agents to, devote to the Company such time as shall be reasonably necessary to conduct the business and affairs of the Company in an appropriate manner consistent with the terms of this Agreement. The Company acknowledges that the Advisor and its Affiliates and their respective employees, officers and agents may also engage in activities unrelated to the Company and may provide services to Persons other than the Company or any of its Affiliates.
Revolver Commitment for any Lender, its obligation to make Revolver Loans and to participate in LC Obligations up to the maximum principal amount shown on Schedule 1.1, or as hereafter determined pursuant to each Assignment and Acceptance to which it is a party. “Revolver Commitments” means the aggregate amount of such commitments of all Lenders.
