Base Rate The greater of (a) the variable annual rate of interest announced from time to time by Agent at Agent's Head Office as its "prime rate" or (b) one-half of one percent (0.5%) above the Federal Funds Effective Rate (rounded upwards, if necessary, to the next one-eighth of one percent). The Base Rate is a reference rate and does not necessarily represent the lowest or best rate being charged to any customer. Any change in the rate of interest payable hereunder resulting from a change in the Base Rate shall become effective as of the opening of business on the day on which such change in the Base Rate becomes effective, without notice or demand of any kind.
Y-Rate The Board of Supervisors may adopt a Y-rate to apply to: (1) an employee who would suffer an actual decrease in salary as a result of action taken by the County, without fault or inability on the part of the employee, or (2) an employee who is changing from one (1) class series to another, as a normal consequent of career development through the County's upward mobility program, and the salary of the class the employee enters in the new class series is less than the salary the employee was receiving in the former class. A Y-rate means a salary rate, for an individual employee, which is greater than the established range for the class.
E-RATE Authorized users who receive E-rate funding are encouraged to review Universal Service Fund rules and regulations to verify the applicability of this Contract to the E-rate program. NEW YORK STATE RIGHTS OGS Reserved Rights New York State reserves the right to:
Base Rates Attached to and made a part of this Agreement is Appendix A which sets forth the straight-time hourly rates for all employees covered by this Agreement.
Pay Rate Sick leave pay shall be at the shift straight-time hourly rate.
Mileage Rate The mileage rate for authorized travel – based on State of Florida rates on the Effective Date of this Agreement – is $0.445 per mile.
Alternate Rate of Interest If prior to the commencement of any Interest Period for a Eurodollar Borrowing:
Salary Rate The annual salary for regular faculty will be prorated according to the established workload for the academic year.
BASE PAY RATE The employee's basic hourly rate exclusive of overtime premium, shift premium, stability or any other special allowances.
Mileage Rates The mileage rate shall be the maximum allowed by the Internal Revenue Service. If the IRS rate should change during the term of the contract, the contract rate shall change also on the date specified by the IRS.
