Permanent Reduction Sample Clauses
Permanent Reduction. The principal amount of the Debt is reduced to $426,000 and all the Bank's claims for principal in excess of such amount or for interest or charges accrued to the date hereof are extinguished.
Permanent Reduction a. Permanent reduction shall be defined as a reduction of hours, reduction in force, or the elimination of an employee’s position in excess of thirty (30) days. When the Employer determines that a reduction in hours or position is necessary, the decision will be made and communicated to the Union through a notice of intent in writing, a minimum of sixty (60) days prior to implementation. This notice shall include the number and description of the affected positions and the reasons for the reduction. The parties shall meet, if the Union so requests, to discuss the reduction and explore alternatives, including a work share agreement to be mutually agreed upon by the employees in the affected patient care area or outpatient facility. However, the Employer retains the final right to determine the nature of the layoff.
b. Permanent reduction in positions or hours shall take place by reverse Bargaining Unit seniority by inpatient patient care area or outpatient module/work group provided that the employees remaining have the ability to perform the work required with up to a maximum of one hundred and sixty (160) hours of orientation.
c. Such permanent reduction shall take place in the following order:
1) Overtime
2) Volunteers
3) Non-union temporary employees (see Article 8)
4) Hours above coding
5) On call employees
6) Short hour employees
7) Any employee filling a temporary regular position (they will be returned to their original position)
8) Regular employees
d. The affected employees shall be given at least thirty (30) days notice of layoff, or compensation at the regular rate of pay to the extent that such notice is deficient.
e. Inpatient Bumping Rights Employees affected by permanent reduction in positions or hours (an employee who has been laid off in accordance with the preceding provisions) may request in writing and receive transfer to one (1) of the ten (10) least senior comparable positions in the Bargaining Unit for which she/he is qualified, or any open positions in the region. If there is no employee who is less senior than the laid off employee working in a comparable position, the laid off employee will have the option to bump the least senior position in the Bargaining Unit that is closest to their own coded hours, regardless of shift or location. Permanent reduction - Specific provision directly related to patient placement at X.X. Xxxxxxxxxx Medical Center or other Clark County alliance. An inpatient employee who is bumped by an employee wh...
Permanent Reduction. In the event a permanent reduction of any positions in the bargaining unit becomes necessary, the City agrees that:
A. Written notice of intent to reduce the bargaining unit will be given thirty (30) days prior to such a reduction.
B. Prior to such reduction in the bargaining unit, the City will meet and discuss the reasons or necessity for such a reduction, if requested by the Union.
C. The Union may submit proposals to the City relating to the bargaining unit to avoid the necessity of such a reduction. The City shall be required to consider such proposals and respond to the Union in writing prior to the implementation of such a reduction.
Permanent Reduction a. Permanent reduction shall be defined as a reduction of hours, reduction in force, or the elimination of an employee’s position in excess of thirty
Permanent Reduction. Once reduced in accordance with this Section, the Revolving Commitments may not be increased. Any reduction of the Revolving Loan Commitments shall be applied to each Revolving Lender according to its Revolving Percentage.
Permanent Reduction. Upon the prepayment of Revolving Loans pursuant to this Section 4.01(b), the Revolving Credit Commitments, automatically and permanently,
Permanent Reduction. Amounts prepaid under the Term Loan pursuant to this SECTION 2.07(f) may not be reborrowed and will constitute a permanent reduction in the Term Loan Commitment. Each prepayment shall be accompanied by any amount required to be paid pursuant to SECTION 4.05 hereof.
Permanent Reduction. Effective as of January 15, 1999 and pursuant to the Sixth Amendment and the Seventh Amendment, the principal amount of the Loan and Maximum Revolving Loan Commitment was increased from $15,000,000.00 to an amount not to exceed $25,000,000.00 until the Interim Maturity Date on which date, without further notice or demand
(a) Borrower shall pay amounts necessary to reduce the outstanding principal balance of the Loan to $15,000,000.00 or less, and (b) the Maximum Revolving Loan Commitment shall be permanently reduced to an amount not to exceed $15,000,000.00 (the "Mandatory Permanent Reduction"). In addition to (but not to the exclusion of) the circumstances comprising the Interim Maturity Date which result in the Mandatory Permanent Reduction, the Maximum Revolving Loan Commitment shall also be automatically and permanently reduced to an amount not to exceed $15,000,000.00 on a date and time certain which date and time certain shall occur contemporaneous with Borrower's repayment of the outstanding principal balance of the Loan to an amount that is $15,000,000.00 or less at any time and for any reason whatsoever (the "Voluntary Permanent Reduction"). Notwithstanding the foregoing, in the event the Interim Maturity Date is the same date as the Maturity Date, the outstanding principal balance of the Loan together with any accrued but unpaid interest thereon and any other costs or amounts owed to the Bank hereunder, excluding (for purposes of this Paragraph 3 only) the aggregate amount of LC Reserves outstanding on the Maturity Date, shall be due and paid in full on such date. On the LC Maturity Date, the aggregate amount of Loan Advances made as a result of LC Drawings together with any accrued but unpaid interest thereon and any other costs or amounts remaining owed to the Bank hereunder shall be due and paid in full on such date. As of the date of this Amendment, the provisions of this paragraph are intended to supersede and replace the provisions of Paragraph 5 of the Sixth Amendment and Paragraph 3 of the Seventh Amendment.
Permanent Reduction of the Revolving Credit Commitment ------------------------------------------------------ and/or Swingline Commitment. ---------------------------
Permanent Reduction. 30 (b) Temporary Increase or Reduction..............................................30 Section 2.9 Manner of Payment..........................................................................31 Section 2.10 Proration of Payments.....................................................................32 Section 2.11 Fees......................................................................................33