Common use of Segregated Funds Clause in Contracts

Segregated Funds. Upon the initial receipt by the Union of any contested amount of proportionate fair share payment by an employee, the Union shall cause or direct such contested amount to be placed in an interest-bearing escrow account at the then-prevailing rate. Any additional so contested amounts, collected while the objection is in process shall be similarly directed to such account and remain so segregated from usual and customary Union funds until such time as the validity of the objection is finally determined.

Segregated Funds. Upon the initial receipt by the Union Association of any contested amount of proportionate fair share payment by an employee, the Union Association shall cause or and direct such contested amount to be placed in an interest-interest bearing escrow account at the then-then prevailing rate. Any additional so contested amounts, collected while the objection is in process process, shall be similarly directed to such account and remain so segregated from usual and customary Union funds account, until such time as the validity of the objection is finally determined.

Segregated Funds. Upon the initial receipt by the Union of any contested amount of proportionate fair share payment by an employeeEmployee, the Union shall cause or direct such contested amount to be placed in an interest-interest bearing escrow account at the then-then prevailing rate. Any additional so contested amounts, collected while the objection is in process process, shall be similarly directed to such account account, and remain so segregated from usual and customary Union funds until such time as the validity of the objection is finally determined.