Common use of Third positive test = Termination Clause in Contracts

Third positive test = Termination. Each fiscal year the District will allocate $10,000 (ten thousand dollars) for the purpose of providing computer purchase loans to unit members. Unit members may submit a request to SDCCPOA to borrow from the Computer Fund an amount not to exceed $2000 (two thousand dollars) for the purchase of computer equipment and/or software. The specific timelines/ application forms and procedures will be announced by SDCCPOA to all unit members. POA will submit a list of the selected buyers to the District. Buyers will be notified by POA that they have been selected to receive the interest free loan. The buyer must then submit a completed check request/payroll deduction form to the District within thirty (30) calendar days of the notification date. The buyer will have the option to choose to purchase from any vendor currently used by the District. This form will be reviewed and approved by the District. Upon approval the buyer will be issued a check made out to the vendor as soon as practical. Monthly payments will be determined by dividing the check amount by eighteen (18). Payroll deductions will begin on the next available pay period following the date on the check. There will be no penalty for early payoff.

Third positive test = Termination. Each fiscal year the District will allocate $10,000 (ten thousand dollars) for the purpose of providing computer purchase loans to unit members. Unit members may submit a request to SDCCPOA POA to borrow from the Computer Fund an amount not to exceed $2000 (two thousand dollars) for the purchase of computer equipment and/or software. The specific timelines/ application forms and procedures will be announced by SDCCPOA POA to all unit members. POA will submit a list of the selected buyers to the District. Buyers will be notified by POA that they have been selected to receive the interest free loan. The buyer must then submit a completed check request/payroll deduction form to the District within thirty (30) calendar days of the notification date. The buyer will have the option to choose to purchase from any vendor currently used by the District. This form will be reviewed and approved by the District. Upon approval the buyer will be issued a check made out to the vendor as soon as practical. Monthly payments will be determined by dividing the check amount by eighteen (18). Payroll deductions will begin on the next available pay period following the date on the check. There will be no penalty for early payoff.