Base Monthly Rate definition

Base Monthly Rate means the sum of (i) Employee's monthly salary payable under Section 4.1 as of the determination date and (ii) one-twelfth of the average bonus paid to Employee for the two fiscal years of the Company preceding the determination date. For purposes of Section 5, the determination date shall be the date on which this Agreement terminates, and, for purposes of Section 7, the determination date shall be the date on which the Change in Control occurs. For purposes of clause (ii) of the first sentence of this definition, if Employee was not employed for the two full fiscal years immediately preceding the determination date, the amount under clause (ii) shall be one-twelfth of Employee's bonus for the fiscal year immediately preceding the determination date.
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Base Monthly Rate means $17,500.00 (base hours times base rate).
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Examples of Base Monthly Rate in a sentence

  • B CPI (Consumer Price Index) Adjustments: Adjustment(s) to the Base Monthly Rate (as stated in Supplemental Conditions) after the initial five (5) years of the lease shall be made to reflect changes in the Landlord’s variable costs such as operational costs other than debt service and profit; "variable costs" are defined as thirty-five percent (35%) of the base monthly lease rate.

  • If for any reason Caraustar terminates this agreement for reasons other than Consultant’s breach of provisions herein, Caraustar shall pay Consultant the balance of remaining compensation owed under this Agreement, which shall be calculated by multiplying the Base Monthly Rate by the number of months remaining in the then current term.

  • A CPI (Consumer Price Index) ADJUSTMENTS: Adjustment(s) to the Base Monthly Rate after the initial five (5) years of the lease, and annually thereafter, shall be made to reflect changes in the Landlord’s variable costs such as operational costs other than debt service and profit; "variable costs" are defined as thirty-five percent (35%) of the base monthly lease rate.

  • The monthly rate of compensation may be periodically reviewed and increased (but not decreased without Consultant’s express written consent) at the discretion of the Board or Compensation Committee of the Board (the “Committee”) to reflect, among other matters, cost of living increases and performance results (such Base Monthly Rate, including any increases pursuant to this Section 4, the “Monthly Rate”).

  • The Annual Adjusted Monthly Rental Rate will be computed as follows: PERCENTAGE OF CHANGE IN CPI-U{Annual average CPI-U for the calendar year preceding the year of adjustment or renewal} - {Annual average CPI-U for the calendar year 20XX} = x x / Annual average CPI-U for the calendar year 20XX% = y% ADJUSTED MONTHLY RENTAL RATE {(35% x Base Monthly Rental Rate) x y%} + Base Monthly Rate = Adjusted Monthly Rental Rate.

  • The Base Monthly Rate anticipates that Consultant shall work one week during each calendar month of the then current term of the contract.

  • The formula is expressed as:[(35% x base monthly rate) x % change in CPI-W] + Base Monthly Lease Rate = Adjusted Base Monthly Rate.

  • If Consultant, with the knowledge and approval of the President and CEO, works additional full weeks during any one calendar month, Caraustar shall pay Consultant ratably, which rate shall be calculated by multiplying the Base Monthly Rate by the number of full weeks Consultant actually worked.

  • On each anniversary of the Commencement Date, Base Monthly Rate shall be increased by three percent (3%) of the Base Monthly Rent paid during the month immediately preceding such anniversary.

  • For operating equipment, this rate equals the Base Monthly Rate, adjusted by the age and region factors, divided by 176, times 50 percent.

Related to Base Monthly Rate

  • Base Monthly Rent means the fixed monthly rent payable by Tenant pursuant to Section 3.1 which is specified in Section K of the Summary.

  • Basic Rate means the applicable basic minimum wage rate prevailing on the date 28 days prior to the latest date for submission of Tenders, by reason of any National or State Statute or Ordinance.

  • Turnover Rate means the period of time (usually in hours) required to circulate a volume of water equal to the pool or spa capacity.

  • Day Rate means the rate per day per grade tendered by the Supplier in the Supplier’s proposal that shall never be exceeded within this Contract;

  • Maintenance Margin means the minimum amount of money required in your Trading Account as specified on the Trading Platform in order to keep a Transaction open on the Trading Platform.

  • Rolling Three Month Delinquency Rate With respect to any Distribution Date, the fraction, expressed as a percentage, equal to the average of the Delinquency Rates for each of the three (or one and two, in the case of the first and second Distribution Dates, respectively) immediately preceding calendar months.

  • S&P Recovery Rate With respect to a Collateral Obligation, the recovery rate set forth in Section 1 of Schedule 4 using the Initial Rating of the most senior Class of Secured Notes Outstanding at the time of determination.

  • SBI 1 Year MCLR Rate means 1 year Marginal Cost of Funds Based Lending Rate (MCLR) fixed by State Bank of India (SBI) / any replacement thereof by SBI for the time being in effect applicable for 1 year period, as on 1st April of the respective financial year in accordance with regulations and guidelines of Reserve Bank of India. In absence of such rate, any other arrangement that substitutes such rate as mutually agreed to by the Parties.

  • Recovery Rate means, in relation to any UK Four institution the percentage of the original face value of senior unsecured debt obligations of the affected UK Four institution, as derived by the Calculation Agent from either the ISDA Auction Final Price or the Market Value.

  • Monthly Salary Rate means the amount agreed to by the Owner that can be used on Applications for Payment throughout the Construction Phase to account for the services of Construction Manager’s salaried personnel assigned to the Project. A Monthly Salary Rate must be established for each salaried person and must be approved in writing by the Owner in advance of any Application for Payment for that person. The Monthly Salary Rate is for convenience only and any payments made for Construction Manager’s personnel are subject to audit to determine the actual cost of the wages and allowable employer contributions incurred by the Construction Manager for services performed for the Project.

  • Reference Month means the calendar month for which the level of the Inflation Index is reported as specified in the applicable Final Terms, regardless of when this information is published or announced, except that if the period for which the Relevant Level was reported is a period other than a month, the Reference Month shall be the period for which the Relevant Level is reported.

  • Three-Month LIBOR Rate means the rate determined in accordance with the following provisions:

  • Annual Revenue Rate means the rate employed to assess a compliance penalty charge on a Curtailment Service Provider under Tariff, Attachment DD, section 11. Annual Transmission Costs:

  • Three-Month LIBOR means the rate (expressed as a percentage per annum) for deposits in United States dollars for a three-month period commencing on the first day of a Dividend Period that appears on the Reuters Screen LIBOR01 Page as of 11:00 a.m. (London time) on the LIBOR Determination Date for that Dividend Period. If such rate does not appear on Reuters Screen LIBOR01 Page, Three-month LIBOR will be determined on the basis of the rates at which deposits in United States dollars for a three-month period commencing on the first day of that Dividend Period and in a principal amount of not less than $1 million are offered to prime banks in the London interbank market by four major banks in the London interbank market selected by the Calculation Agent (after consultation with the Company), at approximately 11:00 a.m., London time, on the LIBOR Determination Date for that Dividend Period. The Calculation Agent will request the principal London office of each of such banks to provide a quotation of its rate. If at least two such quotations are provided, Three-month LIBOR with respect to that Dividend Period will be the arithmetic mean (rounded upward if necessary to the nearest whole multiple of 0.00001%) of such quotations. If fewer than two quotations are provided, Three-month LIBOR with respect to that Dividend Period will be the arithmetic mean (rounded upward if necessary to the nearest whole multiple of 0.00001%) of the rates quoted by three major banks in New York City selected by the Calculation Agent (after consultation with the Company), at approximately 11:00 a.m., New York City time, on the LIBOR Determination Date for that Dividend Period for loans in United States dollars to leading European banks for a three-month period commencing on the first day of that Dividend Period and in a principal amount of not less than $1 million. However, if fewer than three banks selected by the Calculation Agent to provide quotations are quoting as described above, Three-month LIBOR for that Dividend Period will be the same Three-month LIBOR as determined for the previous Dividend Period or, in the case of the Dividend Period beginning on April 30, 2018, 2.920%. The determination of Three-month LIBOR for each relevant Dividend Period by the Calculation Agent will (in the absence of manifest error) be final and binding.

  • Base CD Rate means the sum of (a) the Three-Month Secondary CD Rate multiplied by the Statutory Reserve Rate plus (b) the Assessment Rate.

  • One Month LIBOR Rate means, with respect to any interest rate calculation for a Loan or other Obligation bearing interest at the Alternate Base Rate, a rate per annum equal to the quotient (rounded upward if necessary to the nearest 1/16th of one percent (0.0625%)) of (i) the rate per annum referred to as the BBA (British Bankers Association) LIBOR RATE as reported on Reuters LIBOR page 1, or if not reported by Reuters, as reported by any service selected by Administrative Agent on the applicable day (provided that if such day is not a Eurodollar Banking Day for which a Eurodollar Rate is quoted, the next preceding Eurodollar Banking Day for which a Eurodollar Rate is quoted) at or about 11:00 a.m., London time (or as soon thereafter as practicable), for Dollar deposits being delivered in the London interbank eurodollar currency market for a term of one month commencing on such date of determination, divided by (ii) one minus the Reserve Requirement in effect on such day. If for any reason rates are not available as provided in clause (i) of the preceding sentence, the rate to be used in clause (i) shall be, at Administrative Agent’s discretion (in each case, rounded upward if necessary to the nearest one-sixteenth (1/16) of one percent (0.0625%)), (1) the rate per annum at which Dollar deposits are offered to the Administrative Agent in the London interbank eurodollar currency market or (2) the rate at which Dollar deposits are offered to the Administrative Agent in, or by Xxxxx Fargo to major banks in, any offshore interbank eurodollar market selected by Administrative Agent, in each case on the applicable day (provided that if such day is not a Eurodollar Banking Day for which Dollar deposits are offered to Administrative Agent in the London interbank eurodollar currency market, the next preceding Eurodollar Banking Day for which Dollar deposits are offered to Administrative Agent in the London interbank eurodollar currency market) at or about 11:00 a.m., London time (or as soon thereafter as practicable) (for delivery on such date of determination) for a one month term. Each determination by Administrative Agent pursuant to this definition shall be conclusive absent manifest error.

  • Annual Debt Service Charge as of any date means the amount which is expensed in any 12-month period for interest on Debt of the Company and its Subsidiaries.

  • Adjusted One Month LIBOR Rate means, an interest rate per annum equal to the sum of (i) 1.00% per annum plus (ii) the Adjusted LIBO Rate for a one month Interest Period on such day (or if such day is not a Business Day, the immediately preceding Business Day); provided that, for the avoidance of doubt, the Adjusted LIBO Rate for any day shall be based on the Screen Rate at approximately 11:00 a.m. London time on such day.

  • Expense Fee Rate As to each Mortgage Loan, the sum of (a) the related Servicing Fee Rate and (b) the Trustee Fee Rate.

  • Average monthly discharge limitation means the highest allowable average of "daily discharges" over a calendar month, calculated as the sum of all "daily discharges" measured during a calendar month divided by the number of "daily discharges" measured during that month. Compliance with fecal coliform bacteria or E coli bacteria limitations shall be determined using the geometric mean.

  • Five-year U.S. Treasury Rate means, as of any Reset Interest Determination Date, as applicable, (i) an interest rate (expressed as a decimal) determined to be the per annum rate equal to the arithmetic mean of the five most recent daily yields to maturity for U.S. Treasury securities with a maturity of five years from the next Reset Date and trading in the public securities markets or (ii) if there is no such published U.S. Treasury security with a maturity of five years from the next Reset Date and trading in the public securities markets, then the rate will be determined by interpolation between the arithmetic mean of the five most recent daily yields to maturity for each of the two series of U.S. Treasury securities trading in the public securities market, (A) one maturing as close as possible to, but earlier than, the Reset Date following the next succeeding Reset Interest Determination Date, and (B) the other maturing as close as possible to, but later than, the Reset Date following the next succeeding Reset Interest Determination Date, in each case as published in the most recent H.15. If the Five-year U.S. Treasury Rate cannot be determined pursuant to the methods described in clause (i) or (ii) above, then the Five-year U.S. Treasury Rate will be the same interest rate determined for the prior Reset Interest Determination Date or the same interest rate as the initial Interest Period, 5.875%, if prior to the First Call Date.

  • Ordinary Rate means the hourly rate of pay for the ordinary hours of work as listed in Appendix B. Ordinary Time Earnings for all purposes in this agreement has the same definition as defined by Superannuation Guarantee Ruling 2009/2. Without limiting the fullness of this definition, in summary and in the context of this agreement, this includes:

  • Lease Month means each calendar month during the Term (and if the Commencement Date does not occur on the first day of a calendar month, the period from the Commencement Date to the first day of the next calendar month shall be included in the first Lease Month for purposes of determining the duration of the Term and the monthly Basic Rent rate applicable for such partial month).