TRS Payment Sample Clauses

TRS Payment. 1. The Board shall remit for each Bargaining Unit member a portion of such Bargaining Unit Members’ compensation due such Bargaining Unit Member pursuant to the Compensation Schedule of this Agreement to the Illinois Teacher's Retirement System to be applied for the retirement account of such Bargaining Unit Member (rather than survivor's annuity account). The Bargaining Unit Members have no right or claim to moneys so remitted except as it may subsequently become available upon retirement or resignation from the Illinois Teacher's Retirement System.
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TRS Payment. The amounts shown in Appendices B and C include the Board's payment of the Teacher's contribution to the Illinois Teachers' Retirement System equal to nine and four tenths percent (9.4%) of the stated amount. The Union and each Teacher shall defend and hold harmless the Board and its agents and employees with respect to payment of said nine and four tenths percent (9.4%) to the Illinois Teachers' Retirement System. If the Internal Revenue Service or a court of competent jurisdiction shall hold that the Board lacks authority to make such payments, or that such payments are not properly excludable from income, the Board shall promptly commence withholding federal and state taxes from such payments.
Sample 1

Related to TRS Payment

  • E-PAYMENT Contractor agrees to accept all payments in United States currency via the State of Mississippi’s electronic payment and remittance vehicle. The agency agrees to make payment in accordance with Mississippi law on “Timely Payments for Purchases by Public Bodies,” which generally provides for payment of undisputed amounts by the agency within forty-five (45) days of receipt of invoice. Mississippi Code Annotated § 31-7-301 et seq.

  • Returned Payment Fee If your account is subject to a Returned Payment Fee, the fee will be charged to your account when a payment is returned for any reason.

  • Interim payment At the end of each of the periods indicated in Annex I the Contractor shall submit to the Agency a formal request for payment accompanied by those of the following documents which are provided for in the Special Conditions: ➢ an interim technical report in accordance with the instructions laid down in Xxxxx X; ➢ the relevant invoices indicating the reference number of the Contract and of the order or specific contract to which they refer;

  • Fees Payment Company will pay Vendor the Fees established by each Order in accordance with this Agreement. Except as otherwise specified in the Special Conditions or an Order: (i) all payment obligations are non- cancelable and Fees paid are non-refundable; and (ii) quantities of Solutions ordered cannot be cancelled or decreased during the relevant Subscription Term.

  • Non-Payment The Borrower or any other Loan Party fails to pay (i) when and as required to be paid herein, any amount of principal of any Loan or any L/C Obligation, or (ii) within three days after the same becomes due, any interest on any Loan or on any L/C Obligation, or any fee due hereunder, or (iii) within five days after the same becomes due, any other amount payable hereunder or under any other Loan Document; or

  • Cash Payment The Employee shall make cash payments by wire transfer, certified or bank check or personal check, in each case payable to the order of the Company; the Company shall not be required to deliver certificates for Option Shares until the Company has confirmed the receipt of good and available funds in payment of the purchase price thereof.

  • Consideration Payment 5.1 In consideration of the Company’s Services, the Client shall pay to the Company the Consideration to be stipulated in the Termsheet and all reasonable out of pocket expenses (if any) in accordance with the commercial terms and payment terms as detailed in the Separate Agreement.

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