Priority Assignment Sample Clauses

Priority Assignment. Every SKU has a priority level in case one or more parts are available in the ’stock of defective parts’ or are somewhere in the repair shop. This priority level is adapted daily to the current situation. There are eight different priority levels, which are referred to as Prio 1, Prio 2, Prio 3, Prio 4, Prio 5, Prio 99, Prio 100 and Prio 300. The first six priorities are dependent of the inventory level of the SKU. The inventory level is equal to the on hand stock of a SKU minus the number of backorders of that SKU. The latter two priorities are special cases and will be explained in the next subsection. The definition of the first six priority levels is given below: Prio 1: Assigned to a SKU which is needed immediately because a train is down and there are no spare parts available anywhere in the network; Prio 2: Assigned to a SKU when the inventory level in the network is below the minimum level (policy safety stock) and greater than zero. Prio 3: Assigned to a SKU when the inventory level in the network is equal or above the minimum level and below the minimum level plus the total requirements of the current month; Prio 4: Assigned to a SKU when the inventory level in the network is equal or above the minimum level plus the total requirements of the current month and below the minimum level plus the total requirements of the current and the next month; Prio 5: Assigned to a SKU when the inventory level in the network is equal or above the minimum level plus the total requirements of the current and the next month and below the minimum level plus the total requirements of the current and the next two months;

Priority Assignment. The developer of eLearning online courses developed prior to 7/1/15 will retain 13 priority assignment for teaching these courses up to receiving 167 percent of an overall quarterly 14 instructional load as defined in Article 4. Thereafter, the right to instruct the courses is open to any 15 other AEe instructionally qualified. This right of priority assignment does not apply to adjunct AEes.

Priority Assignment. 9.1 Seller’s Lender Has Priority. Purchaser acknowledges that Kukui’ula Development Company (Hawaii), LLC and Hai Fu International Investment, LLC (together, “KDCH”), have made a purchase money loan to Seller in the amount of $4,881,310.00, bearing interest at the rate of 0.31 % per annum, with principal and interest due on the Maturity Date (as defined in the promissory note),, and secured by a mortgage of the units in Phases IA and IB of the Project (the “PMM”). Purchaser also acknowledges that Seller has entered (or may enter) into one or more loan agreements with American Savings Bank, NA and/or other recognized and established financial institution or institutions (collectively, “Seller’s Lender”) pursuant to which Seller’s Lender may loan funds to Seller to cover construction costs and other associated costs of the Project and that such funds will not exceed the principal sum of $30,000,000 for the entire Project and will not exceed the principal sum of $10,575,000 for Phases IA and IB of the Project (each, a “Loan”). The non-default interest rate will be not more than the base, prime or similar rate established by the Seller’s Lender plus three percentage points. The term of the Loan will not exceed sixty months. Interest only is (or will be) payable monthly with partial payments of principal due upon the closing of the sale of each unit in the Project, and the unpaid principal balance will be due and payable in full upon maturity. To secure the Loan, Seller has granted (or may grant) to Seller’s Lender security interests covering Seller’s interest in the Project, including the Unit. Purchaser acknowledges and agrees that all security interests obtained by KDCH and Seller’s Lender in connection with the PMM and Loan, respectively, as well as extensions, renewals and modifications of the security interests, shall be and remain at all times, until the final closing and delivery by Seller of the Unit Deed to Purchaser, a lien or charge on the Project, including the Unit, prior to and superior to any and all liens or charges on the Project arising from this Agreement or any prior agreement. PURCHASER HEREBY INTENTIONALLY WAIVES, RELINQUISHES AND SUBORDINATES THE PRIORITY OR SUPERIORITY OF ANY LIEN OR OTHER LEGAL OR EQUITABLE INTEREST ARISING UNDER THIS AGREEMENT IN FAVOR OF THE LIEN OR CHARGE ON THE PROJECT OR THE SECURITY INTERESTS OF KDCH AND SELLER’S LENDER, INCLUDING BUT NOT LIMITED TO ANY LIEN, MORTGAGE OR OTHER CHARGE SECURING A LOAN MADE TO FINAN...