In Force. Each Borrower agrees to furnish to the Bank (1) a statement of assets and liabilities as of the end of each semi-annual period; (2) audited annual statements; (3) the portfolio of investments as of the end of each semi-annual period; and (4) proxy materials, reports to the shareholders and such other information as the Bank shall reasonably request from time to time. Such audited annual statements and semi-annual statements shall present fairly in all material respects the financial position of the Borrower and conform with generally accepted accounting principles. Each Borrower agrees that it will not change its investment objective or fundamental investment policies, as set forth in the Borrower's most recent Statement of Additional Information or most recent Prospectus, without the consent of the Bank. Each Borrower agrees that it will be a default hereunder if the investment adviser set forth opposite the Borrower's name on Appendix I ceases to be its investment adviser, or the Borrower changes its Custodian without the consent of the Bank, which consent will not be unreasonably withheld. Notwithstanding any provision to the contrary contained herein, each Loan made to a Borrower shall be made only with respect to that Borrower and shall be repaid solely from the assets of that Borrower, or a series of that Borrower as the case may be, and the Bank shall have no right of recourse or offset, or any other right whatsoever, against the assets of any other series of the Borrower or any other Borrower with respect to such Loan or any default in respect thereof. A default by any Borrower shall not, by itself, constitute a default by any other Borrower hereunder. A default by a Borrower under the Uncommitted Line of Credit shall constitute a default by that Borrower and only that Borrower under the Leveraging Line of Credit. Similarly, a default by a Borrower under the Leveraging Line of Credit shall also constitute a default by that Borrower and only that Borrower under the Uncommitted Line of Credit. As an inducement to the Bank to extend the Uncommitted Line of Credit, and at any time Loans are outstanding to a Borrower or at any time a Loan Request is made by that Borrower, that Borrower represents and warrants to the Bank as to itself and not as to any other Borrower that:
In Force. If any of the said policies shall fail at any time to meet the requirements of the Grant as to form or substance, or if a company issuing any such policy shall be or at any time cease to be approved by the Division of Insurance of the State of Colorado, or be or cease to be in compliance with any stricter requirements of the Grant, the Grantee, its Subgrantee and its Subcontractor shall promptly obtain a new policy.
In Force. The Governing Board may reduce salaries or eliminate positions in order to operate the district more economically; however, the reduction shall be made in accordance with general salary reductions and applied equitably. Notice of such action must be made no later than may 1 of the calendar year.
In Force. When the school board determines that it is necessary to terminate or reduce the full-time equivalency of employees with continuing contracts, this section of the contract shall apply. The board’s primary concern and responsibility will be to make those reductions that will have the least detrimental effect upon the students and programs. It is the district’s intent to treat this sensitive and significant process with the utmost respect and care keeping the well-being of staff in mind.
In Force. The expiration or earlier determination of the Term shall not affect the continuance in force of any provision of this Agreement which expressly or by implication is intended to continue in force on or after such expiration or determination, including clauses 6, 20, 22.3 and 22.4.
In Force. This Agreement will be in force on Day 23 of April, 2001 and, subject to the terminations provisions established in other Clauses of this Agreement, will continue in force for and indefinite term until it is terminated by any of the parties at the end of any Month through given notice to the other party at least three (3) Months in advance, in the understanding that the obligations of the parties under this Agreement will continue in force during the period comprised between the termination date notice and the Day in which such termination takes effects.
In Force. 15-1 Any reduction or decrease in the number of licensed teaching positions in the District shall be in accordance with applicable Colorado Law. We agree that this policy is in the best interest of the students of the school district.
In Force. The County may lay off or reduce the FTE status of employees as made necessary due to lack of work, budgetary constraints or other business-related reasons. Any such reduction in personnel or reduction in FTE status of greater than .1FTE, shall be considered a reduction-in-force for purposes of this Agreement. An approved leave of absence does not prevent an employee from being subject to reduction-in-force. Prior to a reduction-in-force, the County will provide 30 days written notice to the employee(s) affected and to the bargaining representative. During such period the bargaining representative may offer proposals regarding alternatives to the reduction-in-force which will be duly considered by the County. If the affected employee(s) is an initial trial service employee(s), the above procedure will not apply and the County will be required to give the employee a minimum of one day advance notice. An employee affected by a reduction-in-force shall be transferred to a vacant position within the same classification with the same FTE allocation (if any); provided he/she meets the minimum skills, abilities and qualifications, and can perform the full range of duties of the position, with a brief orientation or familiarization period. In the event that no such position is available, the employee will be offered the options from the list below to the extent they are available within the bargaining unit, and will be given five (5) business days following notice to choose among available options:
In Force. In any case of reduction in force the Company shall use seniority in determining which employee shall be laid-off or recalled. I Notice sent by registered mail to the most recent address on the employee’s employment file shall constitute proper notice. It shall be the responsibility of the employee to inform the Company of his current address by registered mail or in person provided written acknowledgement is retained by said employee. The Company agrees that employees with more than twelve (12) months’ continuous service are entitled to one week’s notice or one (1) week’s pay in lieu of notice, if a lay-off exceeds thirteen
In Force. 6.1 At the sole discretion of the Board, in the event that it becomes necessary to have a reduction-in-force due to reduced enrollment, reassignment of personnel or students, budget shortfall or program changes, or any other reason as determined by the Board, the following criteria shall be used in making the determination(s) of the lay-off of an employee covered by this Agreement: ● The Board will make every reasonable effort to reduce the impact of reduction-in-force on the current staff by absorbing as many positions as possible through attrition, such as retirements, resignations, and leaves. ● The Board shall notify the Association and employees of any planned reduction-in-force as soon as possible, but in no case later than May 1 of the year in which the reduction-in-force will take place. The Board agrees to make available to the Association information relating to the reduction-in-force. ● The staff shall be reduced in the reverse order that they were hired into the District. Employees having the most seniority shall be placed in the remaining positions, without regard to job classification, provided they are qualified for such positions, and subject to evaluation results. The Board shall weigh both seniority and evaluation results in its determination.
