Rate of Payment and Schedule Sample Clauses

Rate of Payment and Schedule. The following longevity schedule shall apply: After completion of the fifth year and ending with the tenth year of continuous service, an employee shall be paid $2.00 per month for each year of service. EXAMPLE: Total Service Time Total Months Monthly Rate Longevity
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Rate of Payment and Schedule. The following longevity schedule shall apply: After completion of the fifth year and ending with the tenth year of continuous service, an employee shall be paid $2.00 per month for each year of service. EXAMPLE: Total Service Time Total Months Monthly Rate Longevity After completion of the tenth year and ending with the fifteenth year of continuous service, an employee shall be paid $2.50 per month for each year of service. EXAMPLE: Total Service Time Total Months Monthly Rate Longevity 12 yr. 4 mo. = 148 months x $2.50 = $370.00 After completion of fifteenth year and ending with the twentieth year of continuous service, an employee shall be paid $3.00 per month for each year of service. EXAMPLE: Total Service Time Total Months Monthly Rate Longevity After completion of twentieth year and ending with the twenty-fifth year of continuous service, an employee shall be paid $3.50 per month for each year of service. EXAMPLE: Total Service Time Total Months Monthly Rate Longevity 23 yr. 8 mo. = 284 months x $3.50 = $994.00 After completion of twenty-fifth year of continuous service, an employee shall be paid $4.00 per month for each year of service. Maximum years of service for purposes of longevity is twenty-five (25) years. EXAMPLE: Total Service Time Total Months Monthly Rate Longevity 25 yr. = 300 months x $4.00 = $1,200.00 This policy is reflected in the schedule attached as Exhibit 2.
Sample 1
Rate of Payment and Schedule. The following longevity schedule shall apply: After completion of the fifth year and ending with the tenth year of continuous service, an employee shall be paid $2.00 per month for each year of service. EXAMPLE: Total Service Time Total Months Monthly Rate Longevity an employee shall be paid $2.50 per month for each year of service. EXAMPLE: Service Time Total Months Monthly Rate Longevity 12 yr. 4 mo. = 148 months x $2.50 = $370.00 After completion of fifteenth year and ending with the twentieth year of continuous service, an employee shall be paid $3.00 per month for each year of service. EXAMPLE: Total Service Time Total Months Monthly Rate Longevity
Sample 1

Related to Rate of Payment and Schedule

  • Rate of Payment Community service leave for voluntary community service is granted with pay for the first three days leave in a twelve month period to all employees except casual employees.

  • Currency and Funds of Payment All Guarantors’ Obligations for payment will be paid in lawful currency of the United States of America and in immediately available funds, regardless of any law, regulation or decree now or hereafter in effect that might in any manner affect the Guaranteed Liabilities, or the rights of any Secured Party with respect thereto as against the Borrower or any other Loan Party, or cause or permit to be invoked any alteration in the time, amount or manner of payment by the Borrower or any other Loan Party of any or all of the Guaranteed Liabilities.

  • Rate and Time of Payment Unless otherwise specified, Buyer shall make payment to Seller for the goods within 30 days after the goods are received by Buyer.

  • Rate of Pay a. An Employee who is employed as a teacher teaching on call shall be paid 1/189 of his/her category classification and experience, to a maximum of the rate at Category 5 Step 7, for each full day worked. b. Effective July 1, 2016, an Employee who is employed as a teacher teaching on call shall be paid 1/189 of his/her category classification and experience, to a maximum of the rate at Category 5 Step 8, for each full day worked.

  • Method and Place of Payment (a) Except as otherwise specifically provided herein, all payments under this Agreement shall be made by the Borrower, without set-off, counterclaim or deduction of any kind, to the Administrative Agent for the ratable account of the Lenders (or, (i) in the case of the Swingline Loans to the Swingline Lender and (ii) in the case of Additional Swingline Loans to the Additional Swingline Lender) entitled thereto, the Letter of Credit Issuer entitled thereto, as the case may be, not later than 2:00 p.m. (New York City time), in each case, on the date when due and shall be made in immediately available funds at the Administrative Agent’s Office or at such other office as the Administrative Agent shall specify for such purpose by notice to the Borrower (or, (i) in the case of the Swingline Loans, at such office as the Swingline Lender shall specify for such purpose by Notice to the Borrower and (ii) in the case of Additional Swingline Loans, at such office as the Additional Swingline Lender shall specify for such purpose by Notice to the Borrower), it being understood that written or facsimile notice by the Borrower to the Administrative Agent to make a payment from the funds in the Borrower’s account at the Administrative Agent’s Office shall constitute the making of such payment to the extent of such funds held in such account. All repayments or prepayments of any Loans (whether of principal, interest or otherwise) hereunder shall be made in the currency in which such Loans are denominated and all other payments under each Credit Document shall, unless otherwise specified in such Credit Document, be made in Dollars. The Administrative Agent will thereafter cause to be distributed on the same day (if payment was actually received by the Administrative Agent prior to 2:00 p.m. (New York City time) or, otherwise, on the next Business Day) like funds relating to the payment of principal or interest or Fees ratably to the Lenders entitled thereto. (b) Any payments under this Agreement that are made later than 2:00 p.m. (New York City time) may be deemed to have been made on the next succeeding Business Day in the Administrative Agents sole discretion (or, in the case of the Swingline Loans or the Additional Swingline Loans, at the Swingline Lender’s or Additional Swingline Lender’s, as the case may be, sole discretion). Whenever any payment to be made hereunder shall be stated to be due on a day that is not a Business Day, the due date thereof shall be extended to the next succeeding Business Day and, with respect to payments of principal, interest shall be payable during such extension at the applicable rate in effect immediately prior to such extension.

  • Exchange Rate; Manner and Place of Payment All payments hereunder shall be payable in United States dollars. With respect to each calendar quarter, whenever conversion of payments from any foreign currency shall be required, such conversion shall be made at the rate of exchange reported in The Wall Street Journal on the last business day of the applicable calendar quarter. All payments owed under this Agreement shall be made by wire transfer to a bank account designated in writing by ABI, unless otherwise specified in writing by ABI.

  • RATES OF PAYMENT B3.1 Current Contract Rates. Included Timber that is removed by Purchaser and presented for Scaling in the product form stated in A2 shall be paid for at Current Contract Rates determined under this Section. “Current Contract Rates” shall be (a) Flat Rates and (b) Tentative Rates adjusted by the escalation procedures in B3.

  • Regular Rate of Pay The regular rate of pay shall be defined to include the employee's hourly wage rate (including the wage premium in lieu of benefits, if applicable), plus shift differential if the evening or night shift is a permanent assignment, certification pay, and lead pay when the employee has a regular (designated) lead assignment.

  • Manner and Place of Payment Principal and interest on this Note and other payments in connection with this Note shall be payable at the Holder’s offices as designated above in lawful money of the United States of America in immediately available funds without set-off, deduction or counterclaim. Upon assignment of the interest of Xxxxxx in this Note, Borrower shall instead make its payment pursuant to the assignee’s instructions upon receipt of written notice thereof. Except as set forth herein, this Note may not be prepaid or mandatorily converted without the consent of the Holder.

  • Time and Place of Payments Unless otherwise expressly provided herein, the Borrower shall make all payments pursuant to this agreement or pursuant to any document, instrument or agreement delivered pursuant hereto by deposit to the Designated Account before 12:00 noon (Toronto time) on the day specified for payment and the Administrative Agent shall be entitled to withdraw the amount of any payment due to the Administrative Agent or the Lenders hereunder from such account on the day specified for payment.

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