Rate Protection. The Hotel represents and warrants that the Group Rate shall be the lowest rates offered to the meeting attendee during the meeting period, with the exception of government rates, air crew rates and negotiated corporate discounts. Should lower rates be offered by the Hotel (excluding the above-referenced categories), the Group Rate shall be adjusted to the lower rate.
Rate Protection. Unless modified pursuant to Paragraph 12, the Rent shall be based on the Lease Rate specified in the Supplement or such greater Lease Rate as may be specified by written notice to Lessee more than one month before the Estimated Shipment Date or Effective Date for Additional License. By notice to Lessor in writing prior to delivery, or Effective Date for Additional License, and within 15 days after receipt of such notice, Lessee may terminate the Lease for the affected item. Otherwise, the Rent shall be adjusted to reflect the increase. The Unit Purchase Price and LPM Charges are subject to change in accordance with the referenced agreements.
Rate Protection. In the case of ‘red-circled’ employees, such employees shall receive eighty percent (80%) of the wage increase applicable to the standard for the job in which they are the incumbents until such time as the red circle differential disappears. ‘Red-circled’ employees who are fifty-five (55) years of age or over on the date that any increase becomes effective shall receive the full amount of the standard increase.
Rate Protection. The Borrower will not at any time permit less than fifty percent (50%) of the outstanding principal amount of the obligations of the Borrower and the Guarantors described in clauses (i), (iv) and (viii) of the definition of "Indebtedness," on a consolidated basis, to be Fixed Rate Debt.
Rate Protection. In the event that employees are downgraded solely due to a plant closure, partial plant closure or change of methods or facilities, rate protection will be provided as follows:
(a) Employees who remain within their line of promotion/ progression will have their existing rate maintained until the rate for the position in which they are placed, equals the protected rate.
(b) Employees who are placed outside their line of promotion/ progression will have their existing rate protected for one year.
(c) To qualify for rate protection employees must:
1. Successfully complete any training/retraining program to which they are assigned.
2. Perform work to which they are assigned and qualified to perform.
3. Use normal bidding procedures, wherever available, to return to equal or better than their former position.
Rate Protection. The Rates stated on the Supplement are not subject to change provided the Supplement is signed and returned to Lessor by the date indicated on the Supplement and the Equipment is installed by the end of the month of the Estimated Commencement Date stated on the Supplement.
Rate Protection. (i) Employees with less than five (5) years seniority who have been continuously employed in a specific category for forty-four (44) working days or longer and who are transferred to a lower classification shall suffer no reduction in wages for a period of twenty-five (25) working days.
(ii) Employees with more than five (5) years seniority being continuously employed in a specific category for sixty (60) working days or longer and who are transferred to a lower classification shall suffer no reduction in wages during the period of employment in the lower classification.
Rate Protection. As a result of signing this Agreement, no current employee shall have his/her hourly rate reduced below the level currently paid to a journeyperson.
Rate Protection. If due to permanent job reduction an employee is transferred for a period of less than six (6) weeks to work where the job rate is lower, he shall retain his regular job rate. At the expiration of six (6) consecutive weeks the lower job rate shall prevail and the employee shall cease to have any right to return to their prior posted job unless on a new posting.
Rate Protection. The present higher wages of any employee shall not be reduced. For clarity, it is understood and agreed that when any employee in a lower category is required to do any part of the work embodied in higher categories listed in this Article, he/she shall be paid the wage rate for such higher category as per Article 3.
