Non-accumulation Sample Clauses

Non-accumulation. Allowable leave shall not be accumulated from year to year.
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Non-accumulation. Regardless of the number of years this Policy shall continue in force, the number of Premiums paid and irrespective of whether it is or may be renewed, the limits of liability as specified in the Policy Schedules shall not accumulate from year to year or from Period of Insurance to Period of Insurance.
Non-accumulation. Benefits under Sections 1(a) and 1(b) will not accumulate from year to year.
Non-accumulation. Personal days may not be accumulated from year of seniority to year of seniority. Personal days which are not taken during the year of seniority for which they become available for use are lost and may not be used thereafter. The employee is not entitled to receive the cash equivalence of any such loss of personal days. However, any personal days not taken during a calendar year will be added to the employees extended sick leave bank, provide it does not exceed the maximum accumulation permitted for extended sick leave. Full- time employees shall receive a notice with their paycheck during the month following their anniversary date informing them of how many unused personal days were remaining and the total paid extended sick leave days currently available.
Non-accumulation. The inclusion in this Policy of more than one Trustee shall not operate to increase the Insurer’s limit of aggregate liability stated in the schedule.
Non-accumulation. Holiday compensatory time shall not accumulate from one calendar year to the next and will be forfeited if not used. Provided, however, if a holiday compensatory day is canceled by the chief, or his/her designee, prior to July 1st, the employee must reschedule the holiday compensatory day during the remaining calendar year. However, it may be carried over to the next calendar year and scheduled as a non-guaranteed day, subject to the chief’s approval. Holiday compensatory time cancelled after June 30th may be carried over to the next calendar year, and scheduled as a guaranteed/ non-cancelable Holiday compensatory day, subject to the chief’s approval.
Non-accumulation. Floating Day leave must be taken only during the calendar year in which it is granted and shall not carry over from one calendar year to the next except as otherwise agreed in writing by the Company and the Union.
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Non-accumulation. 6. For the avoidance of doubt, in respect of all cover under this Policy all limits of liability and excesses shall apply on the basis that there is one Policy Period only, notwithstanding any setting out in the Declarations of different Policy Periods.

Related to Non-accumulation

  • Principal Funding Account; Controlled Accumulation Period (a)(i) The Servicer, for the benefit of the Series 1997-1 Certificateholders, shall establish and maintain in the name of the Trustee, on behalf of the Trust, an Eligible Deposit Account (the "Principal Funding Account"), bearing a designation clearly indicating that the funds deposited therein are held for the benefit of the Series 1997-1 Certificateholders. The Principal Funding Account shall initially be established with the Trustee.

  • Allocations During the Controlled Accumulation Period During the Controlled Accumulation Period (A) an amount equal to the product of (I) the sum of the Class B Principal Percentage and the Collateral Principal Percentage and (II) the Principal Allocation Percentage and (III) the Series 2017-3 Allocation Percentage and (IV) the aggregate amount of Collections of Principal Receivables deposited in the Collection Account on such Deposit Date, shall be allocated to the Series 2017-3 Certificateholders and retained in the Collection Account until applied as provided herein and (B) an amount equal to the product of (I) the Class A Principal Percentage and (II) the Principal Allocation Percentage and (III) the Series 2017-3 Allocation Percentage and (IV) the aggregate amount of Collections of Principal Receivables deposited in the Collection Account on such Deposit Date (the product specified in this clause (B) for any such date is hereinafter referred to as a “Percentage Allocation”) shall be allocated to the Series 2017-3 Certificateholders and retained in the Collection Account until applied as provided herein; provided, however, that if the sum of such Percentage Allocation and all preceding Percentage Allocations with respect to the same Monthly Period exceeds the Controlled Deposit Amount during the Controlled Accumulation Period for the related Distribution Date, then such excess shall not be treated as a Percentage Allocation and shall be first, if any other Principal Sharing Series is outstanding and in its amortization period or accumulation period, retained in the Collection Account for application, to the extent necessary, as Shared Principal Collections on the related Distribution Date, and second paid to the Holders of the Transferor Certificates only if the Transferor Amount on such Deposit Date is greater than the Required Transferor Amount (after giving effect to all Principal Receivables transferred to the Trust on such day) and otherwise shall be deposited in the Special Funding Account.

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