Layoff – Process and Options Sample Clauses

Layoff – Process and Options. (a) In the event of a layoff, nurses shall be laid off in the reverse order of seniority provided that the nurses who are entitled to remain on the basis of seniority are qualified to perform the available work. Subject to the foregoing, probationary nurses shall be first laid off. (b) Nurses shall have the following entitlements in the event of a layoff. Prior to implementing a short-term layoff on a unit, nurses will first be offered, in order of seniority, the opportunity to take vacation day(s), utilize any compensating/lieu time credits or to take unpaid leaves in order to minimize the impact of a short-term layoff. i) A nurse who has been notified of a short-term layoff may: (A) Accept the layoff; or (B) Opt to retire if eligible under the terms of the Hospital's pension plan as outlined in Article 17.04; or (C) Elect to transfer to a vacant position, provided they are qualified to perform the available work; or (D) Displace the least senior nurse in the bargaining unit whose work they are qualified to perform. ii) A nurse who has been notified of a long-term layoff may: (A) Accept the layoff; or (B) Opt to retire if eligible under the terms of the Hospital's pension plan as outlined in Article 17.04; or (C) Elect to transfer to a vacant position provided that they are qualified to perform the available work; or (D) Displace another nurse in any classification who has lesser bargaining unit seniority and who is the least senior nurse on a unit or area whose work the nurse subject to layoff is qualified to perform. iii) In all cases of layoff: (A) Any agreement between the Hospital and the Union concerning the method of implementation of a layoff shall take precedence over the terms of this article. While an individual nurse is entitled to Union representation, the unavailability of a representative of the Union shall not delay any meeting regarding layoffs or staff reductions. (B) Where a vacancy occurs in a position following a layoff hereunder as a result of which a nurse has been transferred to another position, the affected nurse will be offered the opportunity to return to their former position providing such vacancy occurs within six (6) months of the date of layoff. Where the nurse returns to their former position there shall be no obligation to consider the vacancy under Article 10.07. Where the nurse refuses the opportunity to return to their former position the nurse shall advise the Hospital in writing. (C) No reduction in the hours of wor...
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Layoff – Process and Options a) In the event of a layoff, employees shall be laid off in the reverse order of seniority provided that the employees who are entitled to remain on the basis of seniority are qualified to perform the available work. Subject to the foregoing, probationary employees shall be first laid off.
Layoff – Process and Options i) An employee who has been notified of a layoff may: (B) opt to retire if eligible under the terms of the University’s pension plan as outlined in Article 18.01 Replace (B): “opt to retire if eligible under the terms of the University Pension Plan”.
Layoff – Process and Options. (i) In the event of a layoff, nurses shall be laid off in the reverse order of seniority in the affected Centre(s), provided that the nurses who are entitled to remain on the basis of seniority are qualified to perform the available work. Subject to the foregoing, probationary nurses shall be first laid off. Lay-off in full-time positions shall be separate from lay-off in part-time positions. (ii) Nurses shall have the following entitlements in the event of a layoff; A nurse who has been notified of a long term layoff may: (A) accept the layoff; or (B) opt to retire if eligible under the terms of the pension plan as outlined in Article 17.02; or (C) elect to transfer to a vacant position provided that she or he is qualified to perform the available work; or (D) displace another nurse in a same or lesser classification who has lesser seniority in the affected Centre whose work the nurse subject to layoff is qualified to perform. A "vacant position" shall mean a position for which the posting process has been completed and no successful applicant has been appointed.
Layoff – Process and Options. (i) In the event of a layoff, nurses shall be laid off in the reverse order of seniority in the affected Home(s), provided that the nurses who are entitled to remain on the basis of seniority are qualified to perform the available work. Subject to the foregoing, probationary nurses shall be first laid off. Lay-off in full-time positions shall be separate from lay-off in part-time positions.
Layoff – Process and Options. (a) In the event of a layoff, employees shall be laid off in the reverse order of seniority provided that the employees who are entitled to remain on the basis of seniority are qualified to perform the available work. Subject to the foregoing, probationary employees shall be first laid off. (b) Employees shall have the following entitlements in the event of a short-term layoff: i) Prior to implementing a short-term layoff on a unit, employees will first be offered, in order of seniority, the opportunity to take vacation day(s), utilize any compensating/lieu time credits or to take unpaid leaves in order to minimize the impact of a short-term layoff. ii) An employee who has been notified of a short-term layoff may: A) Accept the layoff; or B) Opt to retire if eligible under the terms of the Hospital's pension plan as outlined in Article 21.04; or C) Elect to transfer to a vacant position, provided she or he is qualified to perform the available work; or D) Displace the least senior employee within in the bargaining unit whose work she or he is qualified to perform.
Layoff – Process and Options. (a) In the event of a layoff, employees shall be laid off in the reverse order of seniority provided that the employees who remain are, in the opinion of the Employer, able to perform the required work. Subject to the foregoing, probationary employees shall be first laid off. (b) In all cases of lay off employees shall have the option to displace the least senior employee in the bargaining unit whose work she or he is qualified to perform. For clarity, employees will be paid according to the work performed. (c) Prior to implementing a short-term layoff employees will first be offered, in order of seniority, the opportunity to take vacation day(s), utilize any compensating/lieu time credits or to take unpaid leaves in order to minimize the impact. (d) Any agreement between the Employer and the Union concerning the method of implementation of a layoff shall take precedence over the terms of this article. The unavailability of a representative of the Union shall not delay any meeting regarding layoffs or staff reductions. (e) Full-time and part-time layoff and recall rights shall be separate. (f) No new employees shall be hired until all those employees who retain the right to be recalled have been given an opportunity to return to work, provided that such employees are, in the opinion of the Employer, able to perform the required work.
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Related to Layoff – Process and Options

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  • Ownership and Operations of Merger Sub Parent owns beneficially and of record all of the outstanding capital stock of Merger Sub. Merger Sub was formed solely for the purpose of engaging in the Transactions, has engaged in no other business activities and has conducted its operations only as contemplated hereby.

  • Effect of Recapitalizations, Reclassifications and Changes of the Common Stock (a) In the case of: (i) any recapitalization, reclassification or change of the Common Stock (other than changes resulting from a subdivision or combination), (ii) any consolidation, merger, combination or similar transaction involving the Company, (iii) any sale, lease or other transfer to a third party of the consolidated assets of the Company and the Company’s Subsidiaries substantially as an entirety or (iv) any statutory share exchange, in each case, as a result of which the Common Stock would be converted into, or exchanged for, stock, other securities, other property or assets (including cash or any combination thereof) (any such event, a “Share Exchange Event”), then, at and after the effective time of such Share Exchange Event, the right to convert each $1,000 principal amount of Notes shall be changed into a right to convert such principal amount of Notes into the kind and amount of shares of stock, other securities or other property or assets (including cash or any combination thereof) that a holder of a number of shares of Common Stock equal to the Conversion Rate immediately prior to such Share Exchange Event would have owned or been entitled to receive (the “Reference Property,” with each “unit of Reference Property” meaning the kind and amount of Reference Property that a holder of one share of Common Stock is entitled to receive) upon such Share Exchange Event and, prior to or at the effective time of such Share Exchange Event, the Company or the successor or purchasing Person, as the case may be, shall execute with the Trustee a supplemental indenture permitted under Section 10.01(g) providing for such change in the right to convert each $1,000 principal amount of Notes; provided, however, that at and after the effective time of the Share Exchange Event (A) the Company shall continue to have the right to determine the form of consideration to be paid or delivered, as the case may be, upon conversion of Notes in accordance with Section 14.02 and (B) (I) any amount payable in cash upon conversion of the Notes in accordance with Section 14.02 shall continue to be payable in cash, (II) any shares of Common Stock that the Company would have been required to deliver upon conversion of the Notes in accordance with Section 14.02 shall instead be deliverable in the amount and type of Reference Property that a holder of that number of shares of Common Stock would have been entitled to receive in such Share Exchange Event and (III) the Daily VWAP shall be calculated based on the value of a unit of Reference Property. If the Share Exchange Event causes the Common Stock to be converted into, or exchanged for, the right to receive more than a single type of consideration (determined based in part upon any form of stockholder election), then (i) the Reference Property into which the Notes will be convertible shall be deemed to be the weighted average of the types and amounts of consideration actually received by the holders of Common Stock, and (ii) the unit of Reference Property for purposes of the immediately preceding paragraph shall refer to the consideration referred to in clause (i) attributable to one share of Common Stock. If the holders of the Common Stock receive only cash in such Share Exchange Event, then for all conversions for which the relevant Conversion Date occurs after the effective date of such Share Exchange Event (A) the consideration due upon conversion of each $1,000 principal amount of Notes shall be solely cash in an amount equal to the Conversion Rate in effect on the Conversion Date (as may be increased by any Additional Shares pursuant to Section 14.03), multiplied by the price paid per share of Common Stock in such Share Exchange Event and (B) the Company shall satisfy the Conversion Obligation by paying cash to converting Holders on the second Business Day immediately following the relevant Conversion Date. The Company shall notify in writing Holders, the Trustee and the Conversion Agent (if other than the Trustee) of such weighted average as soon as practicable after such determination is made. Such supplemental indenture described in the second immediately preceding paragraph shall provide for anti-dilution and other adjustments that shall be as nearly equivalent as is possible to the adjustments provided for in this Article 14. If, in the case of any Share Exchange Event, the Reference Property includes shares of stock, securities or other property or assets (including cash or any combination thereof) of a Person other than the successor or purchasing corporation, as the case may be, in such Share Exchange Event, then such supplemental indenture shall also be executed by such other Person and shall contain such additional provisions to protect the interests of the Holders of the Notes as the Board of Directors shall reasonably consider necessary by reason of the foregoing, including the provisions providing for the purchase rights set forth in Article 15. 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None of the foregoing provisions shall affect the right of a holder of Notes to convert its Notes into cash, shares of Common Stock or a combination of cash and shares of Common Stock, as applicable, as set forth in Section 14.01 and Section 14.02 prior to the effective date of such Share Exchange Event. (d) The above provisions of this Section shall similarly apply to successive Share Exchange Events.

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