Voluntary Reduction The Borrower shall have the right at any time and from time to time, upon at least five (5) Business Days prior written notice to the Administrative Agent, to permanently reduce, without premium or penalty, (i) the entire Revolving Credit Commitment at any time or (ii) portions of the Revolving Credit Commitment, from time to time, in an aggregate principal amount not less than $3,000,000 or any whole multiple of $1,000,000 in excess thereof. Any reduction of the Revolving Credit Commitment shall be applied to the Revolving Credit Commitment of each Revolving Credit Lender according to its Revolving Credit Commitment Percentage. All Commitment Fees accrued until the effective date of any termination of the Revolving Credit Commitment shall be paid on the effective date of such termination.
Voluntary Reduced Work Week Employees subject to the approval by the Appointing Officer may voluntarily elect to work a reduced work week for a specified period of time. Such reduced work week shall not be less than twenty (20) hours per week. Pay, vacation, holidays and sick pay shall be reduced in accordance with such reduced work week.
Voluntary Redundancy a) With the exception of areas where there is only one position under review, Te Pūkenga will call for expressions of interest from kaimahi within the area of review who wish to volunteer for redundancy to cover the surplus/es positions that have been identified.
Voluntary Demotion or Voluntary Reduction in Hours An employee has a right to his regularly assigned time, and shall not have it involuntarily reduced. Employees who take voluntary demotions or voluntary reductions in assigned time in lieu of layoff shall be, at the employee’s option, returned to a position in their former class or to present former positions with increased assigned time as vacancies become available, for a period of five (5) years and three (3) months, except that they shall be ranked in accordance with their seniority on any valid reemployment list.
Change in Classification A change in classification shall not alter a nurse’s accrued seniority for purposes of accrual of benefits or placement in the wage schedule.
Salary Reduction A reduction in pay from one step to another, which is not below the minimum rate established for the position by the salary plan. The employee must be interviewed by the concerned department head or designated representative and served with a written notice of salary reduction. The reduction in pay of any regular employee requires the approval of the City Manager. A copy of the notice of salary reduction shall be sent immediately to the Administrative Services Department for inclusion in the employee's official personnel file.
Salary on Reduction A. 1. When a probationary employee is reduced to a class not previously occupied by the employee, the employee shall receive the recruiting step for the lower class and shall receive a new merit increase eligibility date as provided in Section 3.C., above, or the employee's salary and merit increase eligibility date may be determined by the Chief Human Resources Officer.
Position Classification 1. The requirements of each position will be documented by a Position Description developed by reference to the Position Description Questionnaire (PDQ), and classified into a salary grade consistent with the Position Description and classifications for corresponding job duties found throughout the USNH System and according to USNH policy and processed by the KSC Office of Human Resources.
Changes in Classification The regular wage rate of the employee in effect on July 1 and January 1 will determine his entitlement to Group Life and Accidental Death and Dismemberment coverages as outlined in the schedule contained in Exhibit “B”. Where an employee’s regular duties consist of more than one job, his regular rate shall be deemed to be the average of the rates applicable to such jobs.
