Leave Days 1. Each full-time teacher employed under regular contract shall be entitled to an annual allotment of thirteen (13) leave days. Such allotment shall be credited the first day of each school year and unused days shall be accumulated as sick leave to a total of one hundred eighty-two and one half (182.5) days. The teacher’s accumulated sick days may be used following use of 13 days and a doctor’s note with approval by Superintendent. Certificated staff with an accumulation of 182.5 days of accumulated sick leave shall be compensated at the end of each school year at the rate of the current daily certified substitute pay per each unused day above the 182.5 day accumulation. Such payments shall be made in July of each year. This money shall be placed in the teacher’s 403(b). If school corporation revenue in the Education Fund exceeds expenditures in the calendar year by an amount between $6,000 and $24,000, then the amount of that excess (minus compensation pay), not to exceed $18,000, shall be made available to fund a buyback of unused accumulated sick leave days on the following terms: Teachers shall have the option of selling up to ten (10) days, per round, of unused accumulated sick leave back to the school corporation at the daily rate of pay for a certified substitute teacher. This option will be offered to teachers in accordance with their seniority (total years of continuous service at Western Xxxxx) in the school corporation, with the teacher with the most seniority having priority to exercise the option, and it shall be available only to the extent of the total amount of money available as set forth above. Payment for these days shall be deposited in the individual teacher’s 403(b) plan, and upon payment those sick leave days shall no longer be available to the selling teacher. Said days must have been earned while the teacher has been employed in the school corporation. To participate in the program a teacher must maintain at all times a minimum balance of one hundred (100) days of accumulated sick leave. This method shall continue in successive rounds until the available money remaining less than daily rate of pay for a certified substitute teacher. If more money is available to the school corporation than is needed to fund the buy-backs exercised under this program, the school corporation may retain such money in its Education Fund. After selling a cumulative amount of eighty (80) days, teachers will receive a guaranteed buyback of any leave days over one hundred (100) remaining at the end of each school year.
2. A teacher employed under regular contract for only a portion of the school year shall be entitled to a proportional number of days (beginning the day they return to full-time status), and unused days shall be accumulative as specified herein.
3. Teachers shall be permitted to take one-half (1/2) day of paid leave which shall be recorded as one-half (1/2) day of paid leave.
4. Certificated staff may, in any academic year, utilize up to five (5) accumulated sick days for emergency family illness or injury (providing a written doctor’s note). The staff member must first use all 13 leave days and submit the request to the superintendent. These five days may be used for the medical emergency of only a spouse, children, mother, father, mother-in-law or father-in-law.
Unused Revolving Line Facility Fee A fee (the “Unused Revolving Line Facility Fee”), payable quarterly, in arrears, on a calendar year basis, in an amount equal to one quarter of one percent (0.25%) per annum of the average unused portion of the Revolving Line, as determined by Bank. Borrower shall not be entitled to any credit, rebate or repayment of any Unused Revolving Line Facility Fee previously earned by Bank pursuant to this Section notwithstanding any termination of the Agreement or the suspension or termination of Bank’s obligation to make loans and advances hereunder; and
Unused Line Fee Borrower shall pay to Lender monthly an unused line fee at a rate equal to one-half (1/2%) percent per annum calculated upon the amount by which the Revolving Loan Limit exceeds the average daily principal balance of the outstanding Revolving Loans and Letter of Credit Accommodations during the immediately preceding month (or part thereof) while this Agreement is in effect and for so long thereafter as any of the Obligations are outstanding, which fee shall be payable on the first day of each month in arrears.
Swing Line Facility Subject to the terms and conditions set forth herein, the Swing Line Lender, in reliance upon the agreements of the other Lenders set forth in this Section 2.04, may in its sole discretion make loans (each such loan, a “Swing Line Loan”) to the Borrower in Dollars from time to time on any Business Day during the Availability Period in an aggregate amount not to exceed at any time outstanding the amount of the Swing Line Sublimit, notwithstanding the fact that such Swing Line Loans, when aggregated with the Applicable Percentage of the Outstanding Amount of Revolving Loans and L/C Obligations of the Lender acting as Swing Line Lender, may exceed the amount of such Lender’s Revolving Commitment; provided, however, that (i) after giving effect to any Swing Line Loan, (A) the Total Revolving Outstandings shall not exceed the Aggregate Revolving Commitments and (B) the Revolving Credit Exposure of any Lender shall not exceed such Lender’s Revolving Commitment, (ii) the Borrower shall not use the proceeds of any Swing Line Loan to refinance any outstanding Swing Line Loan and (iii) the Swing Line Lender shall not be under any obligation to make any Swing Line Loan if it shall determine (which determination shall be conclusive and binding absent manifest error) that it has, or by such Credit Extension may have, Fronting Exposure. Within the foregoing limits, and subject to the other terms and conditions hereof, the Borrower may borrow under this Section 2.04, prepay under Section 2.05, and reborrow under this Section 2.04. Each Swing Line Loan shall be a Base Rate Loan. Immediately upon the making of a Swing Line Loan, each Lender shall be deemed to, and hereby irrevocably and unconditionally agrees to, purchase from the Swing Line Lender a risk participation in such Swing Line Loan in an amount equal to the product of such Lender’s Applicable Percentage times the amount of such Swing Line Loan.
Snow Days If an employee after good faith efforts is unable to report to work for their scheduled duty period because of weather conditions, and if a disaster due to weather is declared by the governor or the Grand Traverse County Chairman of the Board of Commissioners, the employee at the employee's option may take a day's leave without pay or work on a pass day to make up the loss day, or may utilize an accumulated sick leave day or vacation day.
Maximum Credit Patheon's liability for Active Materials calculated in accordance with this Section 2.2 for any Product in a Year will not exceed, in the aggregate, the Maximum Credit Value set forth in Schedule D to a Product Agreement.
Loan Amount 3. ACCOUNT NAME(S) ............................................................................................................................................................................... BANK NAME / BRANCH ..................................................................................................................................................................
Line of Credit Amount (a) During the availability period described below, the Bank will provide a line of credit to the Borrower. The amount of the line of credit (the “Facility No. 1 Commitment”) is Fifteen Million and 00/100 Dollars ($15,000,000.00).
(b) This is a revolving line of credit. During the availability period, the Borrower may repay principal amounts and reborrow them.
(c) The Borrower agrees not to permit the principal balance outstanding to exceed the Facility No. 1
Unused Facility Fee A quarterly Unused Facility Fee equal to one quarter of one percent (0.25%) per annum of the difference between the Revolving Line and the average outstanding principal balance of Advances during the applicable quarter, which fee shall be payable within five (5) days of the last day of each such quarter and shall be nonrefundable; and
Facility Fee The Company shall pay to the Administrative Agent for the account of each Lender in accordance with its Applicable Percentage, a facility fee, in Dollars, equal to the Applicable Rate for facility fees times the actual daily amount of the Aggregate Commitments (or, if the Aggregate Commitments have terminated, on the Outstanding Amount of all Committed Loans, Swing Line Loans and L/C Obligations), regardless of usage, subject to adjustment as provided in Section 2.18. The facility fee shall accrue at all times during the Availability Period (and thereafter so long as any Committed Loans, Swing Line Loans or L/C Obligations remain outstanding), including at any time during which one or more of the conditions in Article IV are not met, and shall be due and payable quarterly in arrears on the last Business Day of each March, June, September and December, commencing with the first such date to occur after the Closing Date, and on the last day of the Availability Period (and, if applicable, thereafter on demand). The facility fee shall be calculated quarterly in arrears, and if there is any change in the Applicable Rate for facility fees during any quarter, the actual daily amount shall be computed and multiplied by the Applicable Rate for facility fees separately for each period during such quarter that such Applicable Rate for facility fees was in effect.