Senior Leverage Ratio The Borrower shall not permit its Senior Leverage Ratio at any time to exceed 2.75 to 1.00.
Staffing Levels To the extent legislative appropriations and PIN authorizations allow, safe staffing levels will be maintained in all institutions where employees have patient, client, inmate or student care responsibilities. In July of each year, the Secretary or Deputy Secretary of each agency will, upon request, meet with the Union, to hear the employees’ views regarding staffing levels. In August of each year, the Secretary or Deputy Secretary of Budget and Management will, upon request, meet with the Union to hear the employees’ views regarding the Governor’s budget request.
Maximum Senior Leverage Ratio Permit the Senior Leverage Ratio on the last day of any fiscal quarter during any period set forth below to be greater than the ratio set forth opposite such date or period below: Period Ratio ------ ----- September 30, 2001 2.50:1.0 December 31, 2001 2.00:1.0 March 31, 2002 through June 30, 2002 2.50:1.0 September 30, 2002 2.00:1.0 December 31, 2002 1.50:1.0 March 31, 2003 through June 30, 2003 2.00:1.0 September 30, 2003 1.50:1.0 December 31, 2003 and thereafter 1.25:1.0
Consolidated Senior Leverage Ratio As of the end of each fiscal quarter of the members of the Consolidated Group, the Consolidated Senior Leverage Ratio shall not be greater than the ratio set forth below: Fiscal Quarter End Ratio ------------------ ----- December 31, 2000 3.00:1.0 March 31, 2001 3.10:1.0 June 30, 2001 3.10:1.0 September 30, 2001 2.75:1.0 December 31, 2001 and thereafter 2.50:1.0 1.6 Clause (c) of Section 7.9 of the Credit Agreement is amended to read as follows:
Level 3 A written reprimand may be issued for a severe or repeated infraction or violation. In that event, the unit member may respond in writing and have that writing attached to the reprimand and placed in the personnel file.
Measurement Period In this Agreement, unless the contrary intention appears, a reference to:
Level I If the grievance is not resolved through informal discussions, the School District designee shall give a written decision on the grievance to the parties involved within ten (10) days after receipt of the written grievance.
Level Five i. If the grievant is not satisfied with the disposition of the grievance at Level Four, the Association may submit the grievance to advisory arbitration not later than fifteen (15) school days after receipt of the decision by the Board. ii. Within ten (10) school days after such submission for arbitration, the Board and the Association shall attempt to agree upon a mutually acceptable arbitrator. If the parties are unable to agree upon an arbitrator, either shall request the Public Employment Relations Commission to appoint an arbitrator. iii. The arbitrator shall confer with the representative of the Board and of the Association and shall proceed with a hearing and submit a written report in the shortest possible time setting forth his findings of fact, reasoning and conclusions on the issues submitted. The arbitrator shall be without power or authority to make any decision, which requires the commission of an act prohibited by law or which is violative of the terms of the Agreement. The decision of the arbitrator shall be advisory only to the Board and the Association. iv. The costs for the services of the arbitrator, including per diem expenses and actual necessary travel, subsistence expenses and the cost of the hearing room shall be borne equally by the Board and the Association. Any other expenses incurred shall be paid by the party incurring same. v. If time is lost by any teacher due to arbitration proceedings necessitating the retention of a substitute, the Board of Education will pay only the cost of the substitute; the time lost by the teacher must either be without pay or charged to personal time; however, if the arbitrator subpoenas a teacher to attend the arbitration proceedings as a witness, this teacher shall not suffer loss of pay. vi. Notwithstanding the above, the parties agree that in not more than one (1) arbitration per contract year (non-cumulative) may be submitted to an arbitrator, whose decision shall be final and binding upon both parties. The Association shall have the right to designate which arbitration shall be so binding, provided such designation is made and communicated in writing prior to the commencement of the arbitration in question. The Association's choice shall be limited to a grievance which must have reached Level Two of the grievance procedure in any contract year governed by the agreement. vii. Notwithstanding the above, the parties agree that any dispute which involves a disagreement as to whether the health insurance benefits provided employees herein are equal to or better than the health insurance benefits heretofore provided employees through the New Jersey Public and School Employees Health Benefits Plan may be submitted to an arbitrator whose decision shall be final and binding on both parties.
Level Four A. If within ten (10) school days following the formal third step the Association submits a request to the Superintendent to enter into arbitration, the Superintendent and the Association shall attempt to agree upon a mutually acceptable arbitrator and shall obtain a commitment from said arbitrator to serve. If the parties are unable to agree upon an arbitrator or to obtain such a commitment within ten (10) school days, a written request for a list of arbitrators shall be made to the Public Employment Relations Board (PERB) by either party. The list shall consist of seven (7) potential arbitrators and the parties shall determine by lot which party shall have the right to remove the first name from the list. The party having the right to remove the first name shall do so within two (2) school days. Then the parties shall have one (1) school day alternately to remove until one (1) name remains. The person whose name remains shall be the arbitrator. B. The arbitrator so selected shall confer with the Superintendent and the Association and hold hearings promptly and shall issue his/her decision not later than fifteen (15) school days from the date of the close of the hearings, or, if oral hearings have been waived, then from the date the final statements and proofs on the issues are submitted to him/her. The arbitrator's decision shall be in writing and shall set forth his/her findings of fact, reasoning, and conclusions of the issues submitted. The arbitrator's decision shall have no power to alter, add to, or detract from the specific provisions of the Agreement. No decision of the arbitrator shall in any way be derogation of the powers, duties, and rights established in the Board by constitutional provisions, statue, ordinance, or special legislative acts. The decision of the arbitrator shall be submitted to the Superintendent and the Association and shall be final and binding on the parties. C. The costs of the services of the arbitrator will be borne equally by the Board and the Association. D. If the grievant files any claim or complaint in any forum other than under the grievance procedure of this Master Contract Agreement, then the school district shall not be required to process the same claim or set of facts through this grievance procedure.
Total Net Leverage Ratio Holdings and its Restricted Subsidiaries, on a consolidated basis, shall not permit the Total Net Leverage Ratio on the last day of any Test Period to exceed the ratio set forth below opposite the last day of such Test Period:
