Interest-free Loans Sample Clauses

Interest-free Loans. The District shall provide, upon application, interest-free loans for tuition for approved course work leading toward a Masters’ degree, approved course work, or to gain an endorsement. A maximum of $5000 per applicant may be requested annually. The District shall pay the university or college directly. Repayment of such loans shall be made over the remainder of the contract year through payroll deduction.
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Interest-free Loans. The employee must complete Part 1-A and Part 1-B of the Request for Interest- Free Loan section of the Education Assistance Request (form D-3075). The form must be forwarded to the Manager for endorsement/support (part 2 must be completed by the manager). The manager must indicate reasons for supporting the application based on the employee’s career development needs and job performance.
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Interest-free Loans. Employees may secure an interest-free loan against his/her current annualized wages for the purpose of pursuing additional undergraduate/graduate study. Employees must submit evidence with the loan application that he/she is registered for undergraduate/graduate study in a regionally accredited institution of higher education to be eligible to receive an interest-free loan. A maximum of five percent (5%) of the employee's annualized wages may be owed at any one time. Such advances may be made only during the period when the employee is actively employed and shall be limited to two such advances during a budget year. The total amount advanced shall be repaid by equal wage/salary deductions over the balance of the budget year in which the loan occurs. Upon discontinuation of active employment, any unpaid portion of a loan shall become immediately due and payable, and shall be deducted in full from his/her pay.
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Interest-free Loans. New employees in those job classifications receiving a car allowance will be made aware of the option of securing a no-interest loan of up to $1,999.00 through the Employer for the sole purpose of acquiring a vehicle.
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Interest-free Loans. ‌ 26.1 Employees covered by Exhibit A may borrow, at no interest and without security, up to $1000.00 to assist them in meeting temporary financial problems. Loans are to be repaid within one year. Once a loan has been approved, there is a two (2) year wait before an employee can apply for another loan. Requests for loans pursuant to this Article should be submitted in writing to the Benefits Office and are subject to approval. The request should
Sample 1
Interest-free Loans. An ASA member may secure an interest-free loan against their current base salary for the purpose of pursuing additional graduate study. ASA members must submit evidence with the loan application that they are registered for graduate study in a regionally accredited institution of higher education to be eligible to receive an interest-free loan. A maximum of five percent (5%) of the ASA member’s base salary may be owed at any one time. Such advances shall be made only during the period when the ASA member is actively employed and shall be limited to two such advances during a fiscal year. The total amount advanced shall be repaid by equal salary deductions over the balance of the fiscal year in which the loan occurs. Upon termination of employment, any unpaid portion of a loan will be deducted in full from the ASA member’s final paycheck.
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Related to Interest-free Loans

  • Interest on Revolving Loans The outstanding principal amount of each Revolving Loan made by each Lender shall bear interest at a fluctuating rate per annum that shall at all times be equal to (i) during such periods as such Revolving Loan is a Base Rate Loan, the Base Rate plus the Applicable Revolving Loan Margin and (ii) during such periods as such Revolving Loan is a Eurodollar Loan, the relevant Adjusted Eurodollar Rate for such Eurodollar Loan for the applicable Interest Period plus the Applicable Revolving Loan Margin.

  • Loans, Advances, Investments, Etc Make or commit or agree to make, or permit any of its Subsidiaries make or commit or agree to make, any Investment in any other Person except for Permitted Investments.

  • Notification of Advances, Interest Rates, Prepayments and Commitment Reductions Promptly after receipt thereof, the Agent will notify each Lender of the contents of each Aggregate Commitment reduction notice, Borrowing Notice, Conversion/Continuation Notice, and repayment notice received by it hereunder. The Agent will notify each Lender of the interest rate applicable to each Eurodollar Advance promptly upon determination of such interest rate and will give each Lender prompt notice of each change in the Alternate Base Rate.

  • LOANS, ADVANCES, INVESTMENTS Make any loans or advances to or investments in any person or entity, except any of the foregoing existing as of, and disclosed to Bank prior to, the date hereof.

  • Interest on Revolving Credit Advances Each Borrower shall pay interest on the unpaid principal amount of each Revolving Credit Advance made to such Borrower owing to each Lender from the date of such Revolving Credit Advance until such principal amount shall be paid in full, at the following rates per annum:

  • Interest on Swingline Loans Subject to the provisions of Section 2.8, Swingline Loans shall bear interest at a per annum rate equal to the Alternate Base Rate plus the Applicable Margin for Revolving Loans that are Alternate Base Rate Loans. Interest on Swingline Loans shall be payable in arrears on each Interest Payment Date.

  • Interest on Swing Loans Each Swing Loan shall bear interest until maturity (whether by acceleration or otherwise) at a rate per annum equal to (i) the sum of the Base Rate plus the Applicable Margin for Base Rate Loans under the Revolving Credit as from time to time in effect (computed on the basis of a year of 360 days for the actual number of days elapsed) or (ii) the Swing Line Lender’s Quoted Rate (computed on the basis of a year of 360 days for the actual number of days elapsed). Interest on each Swing Loan shall be due and payable by the Borrower on each Interest Payment Date and at maturity (whether by acceleration or otherwise).

  • Certificates for Reimbursement; Repayment of Outstanding Loans; Borrowing of New Loans A certificate of a Lender or the Issuing Lender setting forth the amount or amounts necessary to compensate such Lender or the Issuing Lender or its holding company, as the case may be, as specified in Sections 5.8.1 [Increased Costs Generally] or 5.

  • Loans The Sponsor has agreed to make loans to the Company in the aggregate amount of up to $300,000 (the “Insider Loans”) pursuant to a promissory note substantially in the form annexed as an exhibit to the Registration Statement. The Insider Loans do not bear any interest and are repayable by the Company on the earlier of December 31, 2021 or the consummation of the Offering.

  • Interest on Revolving Credit Loans (a) Each Revolving Credit Loan shall bear interest at the Base Margin Rate unless timely notice is given (as provided in Section 2.5) that the subject Revolving Credit Loan (or a portion thereof) is, or is to be converted to, a LIBOR Loan. (b) Each Revolving Credit Loan which consists of a LIBOR Loan shall bear interest at the applicable LIBOR Rate. (c) Subject to, and in accordance with, the provisions of this Agreement, the Lead Borrower may cause all or a part of the unpaid principal balance of the Loan Account to bear interest at the Base Margin Rate or the LIBOR Rate as specified from time to time by the Lead Borrower by notice to the Administrative Agent. (d) For ease of reference and administration, each part of the Loan Account which bears interest at the same rate of interest and for the same Interest Period is referred to herein as if it were a separate "Revolving Credit Loan". (e) The Lead Borrower shall not select, renew, or convert any interest rate for a Revolving Credit Loan such that, in addition to interest at the Base Margin Rate, there are more than seven (7) Interest Periods for LIBOR Loans in the aggregate for all Borrowers applicable to the Revolving Credit Loans at any one time. (f) The Borrowers shall pay accrued and unpaid interest on each Revolving Credit Loan to its Borrower in arrears as follows: (i) On the applicable Interest Payment Date for that Revolving Credit Loan. (ii) On the Termination Date and on the End Date. (iii) Following the occurrence of any Event of Default, with such frequency as may be determined by the Administrative Agent. (g) Following the occurrence of any Event of Default (and whether or not any Agent exercises its rights on account thereof), all Revolving Credit Loans shall bear interest, at the option of the Administrative Agent or at the instruction of the SuperMajority Lenders, at a rate which is the aggregate of the applicable rate (including the Applicable Margin) for Base Margin Loans and/or LIBOR Loans, as applicable, plus two percent (2%) per annum.

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