Section 4(b). Any S.A.W. member promoted to a higher position or classification within the bargaining unit shall be placed at a step level which has a salary immediately higher than his/her current salary plus one additional step in the new position unless the Board, upon recommendation of the Superintendent so determines that a higher step is warranted due to circumstances of consideration. All such exceptions will be forwarded to S.A.W. for informational purposes only and shall not be subject to the grievance procedure.
Section 4(b). In connection with Sections 1-3 above, should a situation arise not covered, a committee from the WTA, appointed by its President, will meet with the Superintendent of Schools or his/her designee from central office to resolve said situation. The solution shall then be reduced to writing and made an addition to this Section and will be used as a guide to decide the outcome of similar situations should they arise. If the committee from the WTA and the Superintendent or his/her designee from central office cannot resolve the matter, the WTA will meet with the Finance Committee of the Board to resolve said situation.
Section 4(b). The second sentence of Section 4(b) of the Employment Agreement is hereby deleted and replaced in its entirety with the following: “It is expected that the target date-of-grant value of the Employee’s annual long-term incentive awards will be 200% of his Base Salary (“Target LTIP”) granted in the following allocations: 40% of the award as a time-vesting award, vesting ratably over three years (one-third per year from the date of grant), and 60% of the award as a performance-vesting award, vesting over a three-year performance period.”
Section 4(b). (i) of the Forbearance Agreement is hereby deleted in its entirety and replaced with the following:
Section 4(b). (1) shall be inserted to read as follows: Notwithstanding anything in this Agreement to the contrary, Purchaser shall be entitled, on or before the Due Diligence Deadline, to provide written notice to Seller of any Title Defect identified on the Survey.
Section 4(b). (i) of the Forbearance Agreement is hereby deleted in its entirety and replaced with the following: “(b) Permitted Expenditures.
(i) Attached hereto as Exhibit B is a draft 13-week detailed expense statement containing a projection of cash receipts and disbursements for the period reflected thereon, a final version of which shall be delivered to the Control Agent and the other Lenders on or before February 5, 2016 (as set forth thereon or as modified in accordance with the terms of this Agreement, the “Budgeted Cash Flow”). The Borrower represents and warrants that such Budgeted Cash Flow (and each modification thereof) was prepared in good faith in accordance with GAAP consistently applied (using reasonable and conservative assumptions and estimates) and contains only (A) those expenditures that are necessary to avoid immediate or irreparable harm to the Collateral and as are necessary and reasonable for the Borrower to preserve the going-concern value of the Borrower’s business during the Forbearance Period and (B) costs incurred by or allocable to the Parent for tax and dissolution matters. The Borrower may modify the Budgeted Cash Flow upon the prior written consent of the Control Agent and the Majority Lenders so long as the Borrower’s total expenditures do not exceed the aggregate funds approved in the Budgeted Cash Flow.”
Section 4(b). As of the Effective Date, Section 4(b) of the Agreement is amended to read as follows:
(i) Thirty-Five Percent (35%) of the Restricted Incentive B2 Units issued hereby shall be forfeited by the Recipient and revert to the Company without further notice if the Company has not submitted a completed application for CE Mark to the notified body by February 15, 2018.
(ii) Thirty-Five Percent (35%) of the Restricted Incentive B2 Units issued hereby shall be forfeited by the Recipient and revert to the Company without further notice if the Company does not receive issuance of CE mark by the first to occur of (x) the first anniversary of the date the Company submits the technical file to the notified body confirming satisfaction of the primary objectives of the Nucleus 161 Trial or (y) August 31, 2018.”
Section 4(b). Conditions Precedent to Obligations of the relevant Initial Borrower, each Lender, the Facility Agent, the Security Trustee and Ex-Im Bank on the Borrowing Date for an Aircraft........................................................... 7
Section 4(b). Conditions Precedent to the Showboat Merger Effective Date and the incurrence of Loans on such date.........................28
Section 4(b). Reference to “the forty-fifth (45th) day after the date the Disclosure Statement and BCA Motion are filed” in Section 4(b) of the A&R Restructuring Support Agreement is hereby amended and replaced with “December 1, 2017”.
