Payment in the Event Losses Fail to Reach Expected Level On the date that is 45 days following the last day (such day, the “True-Up Measurement Date”) of the calendar month in which the tenth anniversary of the calendar day following the Bank Closing occurs, the Assuming Bank shall pay to the Receiver fifty percent (50%) of the excess, if any, of (i) twenty percent (20%) of the Stated Threshold less (ii) the sum of (A) twenty-five percent (25%) of the asset premium (discount) plus (B) twenty-five percent (25%) of the Cumulative Shared-Loss Payments plus (C) the Cumulative Servicing Amount. The Assuming Bank shall deliver to the Receiver not later than 30 days following the True-Up Measurement Date, a schedule, signed by an officer of the Assuming Bank, setting forth in reasonable detail the calculation of the Cumulative Shared-Loss Payments and the Cumulative Servicing Amount.
Rates Applicable After Default Notwithstanding anything to the contrary contained in Section 2.9 or 2.10, during the continuance of a Default or Unmatured Default the Required Lenders may, at their option, by notice to the Borrower (which notice may be revoked at the option of the Required Lenders notwithstanding any provision of Section 8.2 requiring consent of affected Lenders to changes in interest rates), declare that no Advance may be made as, converted into or continued as a LIBOR Rate Advance. During the continuance of a Default the Required Lenders may, at their option, by notice to the Borrower (which notice may be revoked at the option of the Required Lenders notwithstanding any provision of Section 8.2 requiring consent of affected Lenders to changes in interest rates), declare that (i) each LIBOR Rate Advance shall bear interest for the remainder of the applicable Interest Period at the LIBOR Rate otherwise applicable to such LIBOR Rate Advance for such Interest Period plus 4% per annum and (ii) each Floating Rate Advance shall bear interest at a rate per annum equal to the Floating Rate otherwise applicable to the Floating Rate Advance plus 4% per annum; provided, however, that the Default Rate shall become applicable automatically if a Default occurs under Section 7.1 or 7.2, unless waived by the Required Lenders.
Minimum Call-Back Time All employees who are called out and required to work in an emergency outside their regular working hours shall be paid for a minimum of two (2) hours at overtime rates and shall be paid from the time they leave home to report for duty until the time they arrive back upon proceeding directly from work.
Termination Date Determination Seller will not designate the Termination Date (as defined in the Receivables Sale Agreement), or send any written notice to Originator in respect thereof, without the prior written consent of the Agent, except with respect to the occurrence of such Termination Date arising pursuant to Section 5.1(d) of the Receivables Sale Agreement.
On-Call Duty 11.01 Both parties hereto accept that, in order to provide appropriate service and care to patients/residents/clients, on-call duty hours may be required to be worked by Employees in addition to regular hours. Positions that are designated for on- call duties must be approved by the Employer designate and the Regional Medical Lead of the Employer. During an on-call shift, an Employee may be required to take phone calls or attend on-site at the facility and perform duties if requested. The Employee is therefore required to be available to return to work without undue delay. On-call duty hours are not hours where an Employee is required to be, or remain, on-site at the facility awaiting assignment of work, including coverage of a shift for another employee or resident physician. 11.02 An Employee in a position with approved on-call duties shall not be scheduled to work such duties in excess of seven (7) times averaged over a four (4) week call period (1:4), unless otherwise agreed between the Employee and the Employer. The duration of an on-call shift shall be determined by the Employer, but shall not exceed twenty-four (24) hours. 11.03 An on-call stipend of $200.00 per twenty-four (24) hour on-call shift shall be provided. If two or more Employees split an on-call shift, the on-call stipend payable for that shift will be pro-rated between Employees that split an on-call shift. 11.04 In addition to the on-call stipend, an Employee that is on-call and required by the Employer to return to work shall be paid at time and one-half (1.5x) for all such hours worked. 11.05 Hours of on-call duty and hours worked after being called into work while on-call shall not be included in the calculation of bi-weekly hours of work (or hours of work over four (4) weeks for Part-Time Employees) or overtime hours of work. 11.06 If an Employee is on-call and is called into work for more than four (4) hours, of which more than two (2) full hours is after midnight and before 0600 hours, and the Employee is scheduled to work on a day shift commencing the morning immediately following the on-call shift, the Employer will make a determination of one of the following: (a) the Employee will be assigned administrative (non-clinical) duties during the day shift, and may be permitted to start the day shift at a later time but shall not suffer any loss of pay for the period of the shift that is not worked. (b) where no administrative (non-clinical) duties are considered necessary, the Employee will be rescheduled to commence clinical duties at 1300 but shall not suffer any loss of pay for the period of the shift that is not worked; or (c) where the Employer considers that the duties performed during the on-call shift were particularly onerous, the Employee will not be required to work on the day shift and shall not suffer any loss of pay. 11.07 The duration of a call back to work shall be calculated starting from the time that the Employee arrives at the facility until the time that the Employee is no longer required to be at the facility. Notwithstanding, the Employee shall be paid not less than time and one-half (1.5) hour at straight time for each call back to work, including call backs that are cancelled while the Employee is en route to the facility.
Payment at Highest Lawful Rate If the Borrower is not obliged to make a payment that it would otherwise be required to make, as a result of Section 5.6(a), the Borrower shall make such payment to the maximum extent permitted by or consistent with applicable laws, rules and regulations.
Termination for Non-Payment We may terminate this Agreement with immediate effect by giving written notice to you if you fail to pay any amount due under this Agreement on the due date for payment and remain in default not less than thirty
Termination for fault 19.3.1 The Commonwealth may terminate this Agreement by notice where the Grantee has: (a) failed to comply with an obligation under this Agreement and the Commonwealth believes that the non‐compliance is incapable of remedy or where clause 19.2.2(b) applies; (b) provided false or misleading statements in relation to the Grant; or (c) become bankrupt or insolvent, entered into a scheme of arrangement with creditors, or come under any form of external administration. 19.3.2 The Grantee agrees, on receipt of the notice of termination, to: (a) stop the performance of the Grantee’s obligations; (b) take all available steps to minimise loss resulting from the termination; and (c) report on, and return any part of the Grant to the Commonwealth, or otherwise deal with the Grant, as directed by the Commonwealth.
Final Completion Date Final Completion for the Work as defined in Article 6.1.3 of the General Conditions to the Continuing Contract for Construction Management shall be achieved by October 31, 2024.
Substantial Completion Date Substantial Completion of the Work as defined in Article 6.1.2 of the General Conditions to the Continuing Contract for Construction Management shall be achieved by July 31, 2022.
