Common use of Repayment of Days Clause in Contracts

Repayment of Days. a). The teacher, who is the recipient for loan of days from the Bank, who remains in the employment of the MSD of Pike Township, shall repay the Bank the borrowed days at the rate of at least three (3) days per year until the loan has been repaid. b). A recipient who leaves the MSD of Pike Township and still owes days to the Bank must transfer accumulated sick leave, personal business leave, and family illness leave days to the Bank as payment towards the loan.

Repayment of Days. a). i. The teacher, who is the recipient for loan of days from the Bank, who remains in the employment of the MSD of Pike Township, shall repay the Bank the borrowed days at the rate of at least three (3) days per year until the loan has been repaid. b)ii. A recipient who leaves the MSD of Pike Township and still owes days to the Bank must transfer accumulated sick leave, personal business leave, and family illness leave days to the Bank as payment towards the loan.