The Wage Guarantee Scheme Sample Clauses

The Wage Guarantee Scheme. The wage development scheme agreed at the tariff revision in 1990 will be continued, but such that the National Collective Agreement's highest minimum wage rate measured on 1 February each year shall constitute 92% of the statistics level per counting date in the previous year calculated in an agreed manner. Supplements that emerge from these calculations can, by agreement between the parties, be distributed over all minimum wage rates. The limit for any distribution is the amount arrived at according to the wording in the first paragraph. If the parties do not agree, it shall all be set at the highest minimum wage rate. Any supplements are granted with effect from 1 February the same year. This wage guarantee scheme applies during the period 1 April 2022 to 31 March 2024.
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Related to The Wage Guarantee Scheme

  • Performance Guarantee 9.4.1 The Concessionaire shall, for the performance of its obligations hereunder during the Concession Period, provide to the Authority no later than [90] days prior to expiry of the Performance Security, an irrevocable and unconditional guarantee from a Bank for a sum equivalent to Rs. ***** crore (Rupees ***** crore)7 in the form set forth in Schedule-FF (the “Performance Guarantee”). Until such time the Performance Guarantee is provided by the Concessionaire pursuant hereto and the same comes into effect, notwithstanding anything contained in clause 9.3 the Performance Security shall remain in force and effect, and upon such provision of the Performance Guarantee pursuant hereto, the Authority shall release the Performance Security to the Concessionaire. 9.4.2 Notwithstanding anything to the contrary contained in this Agreement, in the event Performance Guarantee is not provided by the Concessionaire within a period of [90] days prior to expiry of the Performance Security, the Authority may invoke and encash the Performance Security and appropriate the proceeds thereof as Damages, and thereupon all rights, privileges, claims and entitlements of the Concessionaire under or arising out of this Agreement shall be deemed to have been waived by, and to have ceased with the concurrence of the Concessionaire, and this Agreement shall be deemed to have been terminated by mutual agreement of the Parties.