Maintenance Premium Clause Samples

A Maintenance Premium clause defines an additional fee or payment required to cover ongoing maintenance services for a product, equipment, or property. This clause typically specifies the amount, frequency, and scope of maintenance covered, such as routine inspections, repairs, or updates, and may outline the responsibilities of each party regarding these services. Its core practical function is to ensure that maintenance costs are clearly allocated and anticipated, preventing disputes over service obligations and financial responsibility during the contract term.
Maintenance Premium. Employees in the 3rd Class Operating Engineer classification shall be paid a maintenance premium of 6% per hour for each hour in which they are assigned to work on a maintenance shift, which is worked from Monday to Friday 8:00 a.m. to 4:30 p.m. and that is worked outside of the regular shift schedule.
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Maintenance Premium. A Maintenance classification employee who is assigned to perform work on refrigeration equipment will be paid cents per hour over and above his regular hourly rate of pay while so assigned.
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Maintenance Premium. The Company shall provide an hourly premium to employees in the Maintenance Department who possess a “Refrigeration B License” in addition to an existing Millwright and/or Electrical License in the amount of fifty cents ($0.50) per hour. Employees in the Maintenance Department who possess a “Refrigeration A License” in addition to an existing Millwright and/or Electrical License and a Refrigeration B License shall receive an additional fifty cents ($0.50) per hour. Employees who are dual ticketed (electrician and millwright) shall receive a premium of one dollar ($1.00) effective the first full pay week following the date of ratification.
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Maintenance Premium. The annual premium in respect of the Agreement is Rs ( ) payable yearly in advance.
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Maintenance Premium. Employees classified as a Maintenance or Mechanic Employee shall receive an additional yearly premium of $1,200.00. Payment shall be spread evenly throughout the year.
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Maintenance Premium. The annual premium in respect of the Agreement is AED 3500 payable yearly in advance.
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Maintenance Premium. The annual premium in respect of the Agreement is Rs _____________________________ (___________________________________________________________________________________________________) payable yearly in advance.
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Related to Maintenance Premium

  • Maintenance Charges 6.1 The maintenance services for the Said Plot / Said Complex/Said Building, as set out in Annexure T-IV to this Lease Deed, shall be provided by THE LESSOR or its nominees/ assigns, the estimated Maintenance Charges for which shall be calculated prorata of the super built up area of the Demised Premises to the total super built-up area of the Property. 6.2 The Maintenance Charges for such maintenance services shall be paid to THE LESSOR or its nominees/ assigns, in advance for each month, as per the ▇▇▇▇(s)/ invoice(s) raised by THE LESSOR or its nominees/ assigns. 6.3 The Maintenance Charges shall be subject to deduction of Income Tax at source as applicable, from time to time. 6.4 Any other taxes/ duties/ charges/ cesses / levy(ies) etc. as applicable from time to time on Maintenance Charges including service tax shall be payable by THE LESSEE in addition to the Maintenance Charges mentioned hereinabove as and when demanded by THE LESSOR. 6.5 The Maintenance Charges shall be payable by the Due Date, in advance for each month in respect of which such Maintenance Charges would be payable. 6.6 The Maintenance Charges as specified in this Lease Deed are subject to increase of prices of diesel, gas, petroleum products and other consumables, electricity rates, taxes, wages and salaries, cost of annual maintenance contracts of lifts, DGs, HVAC supplies, transformers, panels etc. during the Lease Term and the Lease Renewal Term (if any). 6.7 After completion of a financial year (i.e. from 1st April of a calendar year to 31st March of the next calendar year), THE LESSOR or its nominees / assigns will provide THE LESSEE, within a reasonable time period, a third party auditor certificate of expenditure/ expenses towards maintenance charges incurred during such financial year. Any under-recovery by THE LESSOR or its nominees/assigns shall become payable by THE LESSEE to THE LESSOR or its nominees/assigns and any over-recovery by THE LESSOR or its nominees/assigns shall become refundable by THE LESSOR/ or its nominees/assigns to THE LESSEE. Any such payment by refund to THE LESSEE shall be without any interest and such payment shall be payable by either party within thirty (30) days of providing such third party auditor certificate and issuance of credit/ debit note (as applicable).

  • REINSURANCE PREMIUM The YRT Reinsurance Premium for each coverage shall equal (i) x (ii) x (iii) / 1,000, where:

  • Maintenance, Etc The Company will maintain, preserve and keep, and will cause each Consolidated Subsidiary to maintain, preserve and keep, its properties which are used in the conduct of its business (whether owned in fee or a leasehold interest) in good repair and working order, ordinary wear and tear excepted, and from time to time will make all necessary repairs, replacements and renewals as the Company may determine to be appropriate to the conduct of its business.

  • Maintenance Fees In case the Current account balance is less than a specific amount determined by the Bank management (subject to amendment from time to time), then the Bank may impose charges against the account’s maintenance which will be advertised at the Bank’s website and branches.

  • Insurance Premiums Tenant shall pay or cause to be paid all premiums for the insurance coverage required to be maintained pursuant to Article 9.