TERM PROVISIONS. This agreement shall remain in effect for a three (3) year period beginning on the date the application is approved.
TERM PROVISIONS. (a) If the Issuer has requested an extension of the Tranche B Purchase Expiration Date from each of Three Pillars and the Committed Purchaser in accordance with Section 2.4 and if the Tranche B Purchase Expiration Date is not extended in accordance with Section 2.4 by the Committed Purchaser or Three Pillars (each such Person that does not agree to extend the Tranche B Purchase Expiration Date is referred to herein as a "Term Institution") on terms acceptable to the Issuer, in its sole discretion, such Term Institution shall, by 11:00 a.m. (New York time) on the Tranche B Purchase Expiration Date following its receipt of written request therefor from the Issuer by 10:00 a.m. (New York time) three Business Days prior to the Tranche B Purchase Expiration Date and subject to the satisfaction of the applicable conditions precedent set forth in Section 4.2, (i) establish such Term Institution's Term Account and (ii) make a Term Deposit by depositing, in same day funds to such Term Institution's Term Account, an amount equal to such Term Institution's Tranche B Commitment less such Term Institution's pro rata share of the Aggregate Purchaser Funded Amount allocated to the Tranche B Commitment as of such date. Each Term Institution shall invest the amounts on deposit in such Term Institution's Term Account in Permitted Investments (it being agreed that the earnings on any such Permitted Investments shall be applied to offset the Term Interest payable to such Term Institutions). Any losses with respect to the Permitted Investments shall be borne by the Issuer and shall be deemed to be an "Increase" made by the applicable Term Institution. Notwithstanding anything contained herein, if the Committed Purchaser does not (i) extend the Tranche B Purchase Expiration Date or (ii) renew on terms acceptable to the Issuer and the Issuer requests the Committed Purchaser make a Term Deposit pursuant to this Section 2.12, PARCO may, in its sole discretion, make the Term Deposit in lieu of the Committed Purchaser, provided, -------- further, that PARCO may at any time request the Committed Purchaser to fund the related Term Account and any outstanding Term Increases made by PARCO. Notwithstanding anything contained herein, if both Three Pillars and the Committed Purchaser decline to extend the Tranche B Purchase Expiration Date, and the Issuer requests a Term Deposit be made pursuant to this Section 2.12, the Issuer shall request that both Three Pillars and the Committed Purcha...
TERM PROVISIONS. This agreement shall remain in effect for a three (3) year period and shall be extended for successive three-year periods subject to the criteria as set out in the Policies and Procedures.
TERM PROVISIONS. A limited term employee is a person hired or appointed by the City to perform the job duties of a job classification for a defined project or assignment of not less than six (6) months and not more than two (2) years’ duration. Limited term appointment may be either full-time or part-time. Limited term positions and appointments shall not be used to displace regular positions and regular employees. Such employees are immediately covered by the Agreement to which their classification is assigned and shall be entitled, according to their pay periods of service, to all of the supplementary pay and benefits applicable to employees holding regular full-time or regular part-time appointments with the same pay periods and/or months of service, except as noted in this agreement. Limited term employees are eligible for membership in the applicable bargaining unit to which the limited term classification is assigned and are subject to the same dues deduction provisions applicable to all other bargaining unit employees. Limited term employees are “at will” and serve at the pleasure of the City. They are not subject to a probationary period, and may be terminated at any time with or without cause. Upon release from the limited term assignment or upon conclusion of the limited term assignment, the City’s layoff provisions shall not apply. Additionally, the City has the authority to terminate employment at the completion of the specified term, or prior to the specified term due to a lack of funding or other budgetary constraints, or for a lack of work. Limited term employees are ineligible for the following benefit programs: City of Xxxxx Long Term Disability Plan, Flexible Spending Accounts, Voluntary Time Off Program, Leave Donation program, and Parental Leave. Limited term positions are exempt from Articles VII and IX of the Personnel Rules.1 Where a limited term employee is hired into a classification requiring specific certifications to be obtained by the end of probation, such requirement may be posted in the job announcement as being required upon hire or within a period of time stated in the job announcement. Limited Term employees may be appointed to limited term positions following a recruitment process and placement on an eligibility list for the classification specified. When a limited term position is posted for recruitment, the designation as “limited term” will be stated in the announcement with the anticipated duration of the appointment expressed in ter...
