Repayment of Town's Share Sample Clauses

Repayment of Town's Share. Upon successful completion of the course and receipt of 50% reimbursement, the employee must maintain employment with the Town from the date of the course completion, for four (4) months for each course taken, or upon completion of degree programs the employee must maintain employment with the Town according to the following schedule: Associate Degree - one (1) year Bachelor’s Degree - two (2) years Master’s Degree - three (3) years Doctorate Degree or Juris Doctor - four (4) years If an employee resigns, retires, or is discharged for cause prior to the completion of the required term of employment as set forth above, then the employee must repay the tuition reimbursement paid by the town for courses taken on a prorated basis within the same schedule as set forth above. This section shall not apply to an employee killed in the line of duty or who retires due to a duty related injury. The employee (or former employee) retains the right to request an extension of payback time periods for reasons to include, but not limited to, financial hardship, death of a family member, or injury. The employee (or former employee) may request such an extension through the Department Head, and if denied, shall retain the right of appeal to the Select Board. Should an employee die after leaving the service of the town while still owing a debt under this article, the town shall not seek reimbursement through the estate of the former employee.
Sample 1Sample 2
Repayment of Town's Share. Upon successful completion of degree programs the member must maintain employment with the Town according to the following schedule: Associate Degree - one (1) year Bachelor Degree - two (2) years Masters Degree/JD or PhD - three (3) years If a member separates from employment prior to serving the term required, then the term will be pro-rated starting from the date the degree was conferred. If a member separates from employment prior to completion of the degree program, then the percentage of completion will be calculated and applied to the term of employment above, with a minimum commitment of one year. For example, if the member has completed 50% of a Masters Degree at the time of separation, then member must serve one and a half (1.5) years from the completion date of last class. A non-matriculated member who receives reimbursement from the town for college level courses, shall maintain employment with the town for a period of one year following completion of the last course. Repayment may be: (1) a lump sum at time of separation; or (2) monthly payments over the term allowed with the first payment due at time of separation and the 1st of the month thereafter. There will be a late payment charge of $10 for any monthly payment received after the 10th of each month. (See Appendix E, Promissory Note). This section shall not apply to a member killed in the line of duty or who retires due to a duty related injury. The member (or former member) retains the right to request an extension of payback time periods for reasons to include, but not limited to, financial hardship, death of a family member, or injury. The member (or former member) may request such an extension through the Chief of Police or designee, and if denied, shall retain the right of appeal to the Select Board.
Sample 1Sample 2

Related to Repayment of Town's Share

  • Benefits – Prepayment or Repayment of Premiums During Unpaid Portion of Leave 11.4.1 Teachers may prepay or repay benefit premiums payable during the duration of parental leave. 11.4.2 Subject to the terms and conditions of the benefits insurance carrier policies, teachers on parental leave may make arrangements through the School Division to prepay one hundred (100) per cent of the benefit premiums for applicable benefits provided for in the existing collective agreement, for a period of up to eighteen (18) months. 11.4.3 Notwithstanding clause 11.3, subject to the terms and conditions of the benefits insurance carrier policies, upon request by the teacher, the School Division will continue paying the School Division portion of the benefit costs for a teacher on parental leave, for the remainder of the parental leave, up to eighteen (18) months, provided the teacher repays the School Division portion of the benefit premiums. 11.4.4 A teacher who commits to clause 11.4.3 is responsible to repay the amount of the School Division paid benefit premiums, and shall reimburse the School Division upon return from the leave, in a mutually agreeable, reasonable manner over the period of no more than eighteen (18) months following the teacher’s return to duty. 11.4.5 If a teacher fails to return to their teaching duties, the teacher shall be responsible to forthwith repay the School Division paid benefit premiums, and shall reimburse the School Division upon receipt of an invoice. 11.4.6 If a teacher has not fully repaid the cost of benefit premiums previously paid by the School Division under clause 11.4.3 the teacher is not eligible to reapply for additional consideration under clause 11.4.3.

  • Prepayment Fee The Prepayment Fee, when due hereunder, to be shared between the Lenders in accordance with their respective Pro Rata Shares; and

  • Adjustments to Required Subordinated Percentages and Amount (a) On any date, the Issuer may, at the direction of the Beneficiary, change the Required Subordinated Percentage of Class B Notes, the Required Subordinated Percentage of Class C Notes or the Required Subordinated Percentage of Class D Notes, in each case for the Class A(2015-1) Notes, without the consent of any Noteholders; provided that the Issuer has received written confirmation from each applicable Note Rating Agency that the change in such percentage will not result in a Ratings Effect for any Tranche of Outstanding DiscoverSeries Notes. (b) On any date, the Issuer may, at the direction of the Beneficiary, replace all or a portion of the Required Subordinated Amount of Class B Notes, the Required Subordinated Amount of Class C Notes or the Required Subordinated Amount of Class D Notes, in each case for the Class A(2015-1) Notes with a different form of credit enhancement (including, without limitation, a cash collateral account, a letter of credit, a reserve account, a surety bond, an insurance policy or a collateral interest, or any combination thereof) and may add such definitions and other terms and make such additional amendments to this Terms Document as shall be necessary for such replacement without the consent of any Noteholders, provided that the Issuer has received written confirmation from each applicable Note Rating Agency that such replacement and such other amendments will not result in a Ratings Effect for any Tranche of Outstanding DiscoverSeries Notes.

  • Payment of Principal, Interest, Escrow Items, Prepayment Charges, and Late Charges Borrower will pay each Periodic Payment when due. Borrower will also pay any prepayment charges and late charges due under the Note, and any other amounts due under this Security Instrument. Payments due under the Note and this Security Instrument must be made in U.S. currency. If any check or other instrument received by Lender as payment under the Note or this Security Instrument is returned to Lender unpaid, Lender may require that any or all subsequent payments due under the Note and this Security Instrument be made in one or more of the following forms, as selected by Lender: (a) cash; (b) money order; (c) certified check, bank check, treasurer’s check, or cashier’s check, provided any such check is drawn upon an institution whose deposits are insured by a U.S. federal agency, instrumentality, or entity; or (d) Electronic Fund Transfer. Payments are deemed received by Lender when received at the location designated in the Note or at such other location as may be designated by Lender in accordance with the notice provisions in Section 16. Lender may accept or return any Partial Payments in its sole discretion pursuant to Section 2. Any offset or claim that Borrower may have now or in the future against Lender will not relieve Borrower from making the full amount of all payments due under the Note and this Security Instrument or performing the covenants and agreements secured by this Security Instrument.

  • Repayment of Term Loan The principal amount of the Term Loan shall be repaid in consecutive quarterly installments as follows, unless accelerated sooner pursuant to Section 7.2:

  • Repayment of Term Loans 25 2.4 Revolving Commitments..........................................25 2.5 Procedure for Revolving Loan Borrowing.........................26 2.6 Commitment Fees, etc. .........................................26 2.7 Termination and Reduction of Commitments.......................27 2.8

  • Default in Payment of Principal of Loans and Reimbursement Obligations The Borrower shall default in any payment of principal of any Loan or Reimbursement Obligation when and as due (whether at maturity, by reason of acceleration or otherwise).

  • Permitted Prepayment of Term Loans Borrower shall have the option to prepay all, but not less than all, of the Term Loans advanced by the Lenders under this Agreement, provided Borrower (i) provides written notice to Collateral Agent of its election to prepay the Term Loans at least thirty (30) days prior to such prepayment, and (ii) pays to the Lenders on the date of such prepayment, payable to each Lender in accordance with its respective Pro Rata Share, an amount equal to the sum of (A) all outstanding principal of the Term Loans plus accrued and unpaid interest thereon through the prepayment date, (B) the Final Payment, (C) the Prepayment Fee, plus (D) all other Obligations that are due and payable, including Lenders’ Expenses and interest at the Default Rate with respect to any past due amounts.

  • Percentages of ADB Financing Except as ADB may otherwise agree, each item of expenditure shall be financed out of the proceeds of the Loan on the basis of the percentages set forth in the Table.

  • Prepayment Fees Borrower agrees to pay to each New Term Loan Lender the following prepayment fees, if any: [ ].