Common use of Loan and Payback Procedures Clause in Contracts

Loan and Payback Procedures. [1] The maximum number of days that a person may borrow is twenty- five (25). Additional days beyond the initial twenty-five (25) may be requested by using the process used to apply for the initial twenty- five (25). [2] The member who borrows days will pay back the days at the rate of 50% of his / her annual accumulated sick leave at the end of the salary contract year, each year until the total number of days borrowed has been restored to the bank. In the event of the death of the member, pay back of the days by their estate shall not be required.

Loan and Payback Procedures. [1] The maximum number of days that a person may borrow is twenty- five (25). Additional days beyond the initial twenty-five (25) may be requested by using the process used to apply for the initial twenty- twenty-five (25). [2] The member who borrows days will pay back the days at the rate of 50% of his / her annual accumulated sick leave at the end of the salary contract year, each year until the total number of days borrowed has been restored to the bank. In the event of the death of the member, pay back of the days by their estate shall not be required.