Pay Rate on Recall Sample Clauses

Pay Rate on Recall. When an employee is re-employed after lay-off he shall be paid at that step in the range which gives him an hourly rate closest to the rate he was paid at the time of lay-off. When determining an employee's wage on re-employment, the employee's hourly rate on the date of lay-off shall be adjusted by any negotiated increase applied after the date of lay-off. If an employee is re-employed in a higher position than he had at the time of lay-off, Article 18.5 shall apply.
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Pay Rate on Recall. Recalled employees shall be paid at the current rate of their former position and at the step attained at the time of layoff unless the employee accepts recall to a lower classification than formerly held, in which circumstance, they will be paid as provided in Article 23.08.
Pay Rate on Recall. In the event of a recall the Employee shall be paid at the applicable Wage Grid amount based on the Employee’s years of service.

Related to Pay Rate on Recall

  • Interest Rate Limitation Notwithstanding anything to the contrary contained in any Loan Document, the interest paid or agreed to be paid under the Loan Documents shall not exceed the maximum rate of non-usurious interest permitted by applicable Law (the “Maximum Rate”). If the Administrative Agent or any Lender shall receive interest in an amount that exceeds the Maximum Rate, the excess interest shall be applied to the principal of the Loans or, if it exceeds such unpaid principal, refunded to the Borrower. In determining whether the interest contracted for, charged, or received by the Administrative Agent or a Lender exceeds the Maximum Rate, such Person may, to the extent permitted by applicable Law, (a) characterize any payment that is not principal as an expense, fee, or premium rather than interest, (b) exclude voluntary prepayments and the effects thereof, and (c) amortize, prorate, allocate, and spread in equal or unequal parts the total amount of interest throughout the contemplated term of the Obligations hereunder.

  • Alternate Rate of Interest If prior to the commencement of any Interest Period for a Eurodollar Borrowing:

  • Daily Rate One, divided by the number of days in the teacher’s annual base contract, times his/her base salary.

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