Common use of Loan Repayment and Service Understandings Clause in Contracts

Loan Repayment and Service Understandings. Overlake Hospital shall forgive repayment of this loan if Nurse works for Overlake Hospital as a Registered Nurse for a minimum of one (1) year at a minimum of a FTE, pursuant to the following preemployment moving loan repayment conditions. [This one (1) year time period will be calculated from the date Nurse begins working at Overlake Hospital ("start date"), and shall be extended to reflect any leaves of absence that may occur during this time period.] Should Nurse resign within one (1) year of Nurse's start date, Nurse understands and agrees that Nurse will be required to repay to Overlake Hospital the preemployment family moving loan of Thousand Dollars ($ ) at a prorated rate. For example, termination after six (6) months would require repayment of 50% of the preemployment moving loan [ Thousand Dollars ($ )]. (Nurse is responsible for any personal tax payment and record filing that may be required.) Nurse Date Spousal Consent: Nurse's Spouse Date PERIOPERATIVE RESIDENCY/INTERNSHIP TUITION LOAN AGREEMENT Name: , RN Social Security #: Date of Hire: Department: Overlake Hospital Medical Center ("Overlake Hospital") and , RN ("Nurse") wish to document the Perioperative residency/internship tuition loan understandings between them. Nurse wishes for Overlake Hospital to fund Perioperative residency/internship tuition expenses, and Overlake Hospital has need for nurses with such qualifications. Therefore, this Perioperative Residency/Internship Tuition Loan Agreement ("Agreement") is in consideration of the mutual understandings noted below:

Loan Repayment and Service Understandings. Overlake Hospital shall forgive repayment payment of this loan if Nurse works for Overlake Hospital as a Registered Nurse for a minimum of one (1) year at a minimum of a FTE, pursuant to the following preemployment moving agency loan repayment conditions. [This one (1) year time period will shall be calculated from the date Nurse begins working at as an employee of Overlake Hospital ("start date"), and shall be extended to reflect any leaves of absence that may occur during this time period.] Should Nurse resign within one (1) year of Nurse's start date, Nurse understands and agrees that Nurse will be required to repay to Overlake Hospital the preemployment family moving Agency buyout loan of $ Thousand Dollars ($ ) at a prorated rate. For example, termination after six (6) months would require repayment of 50% of the preemployment moving Agency buyout loan [ Thousand Dollars ($ )]. (Nurse is responsible for any personal tax payment and record filing that may be required.) Nurse Date Spousal Consent: Nurse's Spouse Date PERIOPERATIVE RESIDENCY/INTERNSHIP TUITION LOAN AGREEMENT Name: , RN Social Security #: Date of Hire: Department: Overlake Hospital Medical Center ("Overlake Hospital") and , RN ("Nurse") ), wish to document the Perioperative residency/internship tuition preemployment moving loan understandings between them. Nurse wishes for has nursing qualifications required by Overlake Hospital to fund Perioperative residency/internship tuition Hospital, but also has unique and special short-term financial needs regarding family moving expenses, and Overlake Hospital has need for nurses with such qualifications. Therefore, this Perioperative Residency/Internship Tuition Preemployment Moving Loan Agreement ("Agreement") is in consideration of the mutual understandings noted below: