Payment of Premium Unless otherwise agreed in writing by the Parties, the Buyer shall be obligated to pay the Premium related to an Option no later than its Premium Payment Date.
Payment of Premiums Each Borrower shall punctually pay all premiums or other sums payable in respect of the obligatory insurances effected by it and produce all relevant receipts when so required by the Security Trustee.
Waiver of Premium In the event an employee becomes totally disabled before age seventy (70), there shall be a waiver of premium for all life insurance coverage that the employee had at the time of disability.
Overtime Premium (a) Employees shall be entitled to payment of time and one-half (1-1/2X) the employee's basic straight time hourly rate for all authorized overtime work in excess of seven and one-half (7-1/2) hours in a tour of duty or in excess of the average full-time hours of work over the period scheduled by the Hospital. Such period for this purpose shall not exceed two (2) weeks. It is understood that no overtime will be paid where the time worked was a result of an exchange at shifts between employees. Overtime shall be distributed as equally as practical among those employees normally performing the type of work to be done on overtime. Notice of overtime work shall be given as soon as practically possible. It is understood and acknowledged that the Hospital has the right to require employees to perform reasonably authorized overtime work. Call-back shall not be considered as hours worked for purposes of this Article. Overtime premium will not be duplicated nor pyramided nor shall other premiums be duplicated nor pyramided nor shall the same hours worked be counted as part of the normal work week and also as hours for which the overtime premium is paid. Where an employee is required to work additional overtime contiguous to an overtime shift within a twenty-four (24) hour period, the employee will be compensated at the rate of double time his or her straight time hourly rate for all additional contiguous overtime hours worked.
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.
Training Premium Qualified Operators selected by the Employer to train new Operators shall be paid a training premium of 40¢ per hour while engaged in training work.
Shift Premium Effective July 1, 2020, an employee shall be paid a shift premium of ninety-five cents (95c/ ) per hour for each hour worked between 1500 hours and 0700 hours provided that such hours exceed two (2) hours if worked in conjunction with the day shift.
Overtime Premium Pay Time and one-half (1 1/2) the employee's straight time rate of pay shall be paid for all hours actually worked in excess of forty (40) hours in any one workweek.
Certification Premium Nurses certified in a specialty area by a national organization and working in that area of certification shall be paid a premium of one dollar and twenty-five cents ($1.25) per hour, provided that the nurse continues to meet all educational and other requirements to keep the certification current and in good standing.
Overtime and Premium Pay Section 1. Overtime at the rate of one and one-half (1 1/2) times an employee's regular straight time hourly rate of pay shall be paid for all work over forty (40) hours in one (1) week.
