We use cookies on our site to analyze traffic, enhance your experience, and provide you with tailored content.

For more information visit our privacy policy.

Double time rate definition

Double time rate means two (2) times straight rate.
Double time rate or "rate of double time" shall mean when applicable to ordinary hours of work on a week day, holiday or Sunday, the ordinary hourly rate payable as part of the employees weekly wage and, in addition, a rate equal to such ordinary hourly rate.

Examples of Double time rate in a sentence

  • Double time rate of pay is 2 times the basic rate of pay plus such other differential increment as required under the terms of the Fair Labor Standards Act in effect on the date of this Agreement.

  • The Indenture, dated as of August 2, 1993, between USL and M&I First National Bank, as Indenture Trustee, as the same may be supplemented, amended or modified from time to time.

  • Time-and-one-half rate: payable per hour (1.5 x straight time rate.) Double time rate: payable per hour (2 x straight time rate).

  • See (A, *E, Q) on OVERTIME PAGE Double time rate after 10 hours on Saturdays Paid: See (1) on HOLIDAY PAGE Overtime: See (5, 6, 11, 15, 16, 25) on HOLIDAY PAGE 9-7/88-xx JOB DESCRIPTION Xxxxx - Building DISTRICT 9 Bronx, Kings, Nassau, New York, Queens, Richmond, Suffolk, Westchester Per hour: 07/01/2021 01/01/2022 Marble, Stone,etc.

  • Double time shall be paid for all hours worked on a Sunday or Official Holiday with a guaranteed minimum of four (4) hours pay at said Double time rate.

  • Work performed on the Holiday will be paid at the Double time rate.

  • The hourly rate for overtime payment will be ascertained by applying the following formulae: 313 36.75 Double time rate: 2 Annual Salary x 6 x 2 313 36.75 1 Overtime payments will be calculated using the exact time claimed.

  • Double time rate of pay for all hours worked on Sundays, during an employee’s stand-by period.

  • The hourly rate for overtime payment will be ascertained by applying the following formulas: Time and a half rate: Annual Salary x 6 x 3 313 prescribed weekly hours before overtime is payable 2 Double time rate: Annual Salary x 6 x 2 313 prescribed weekly hours before overtime is payable 1 Double time and a half rate: Annual Salary x 6 x 5 313 prescribed weekly hours before overtime is payable 2 For the purpose of calculating the formula above, prescribed weekly hours before overtime is payable will be 38.

  • Double time rate shall apply on Sunday and following holidays: New Year’s Day, Memorial Day, Fourth of July, Thanksgiving Day, President’s Day, Labor Day and Christmas Day.

Related to Double time rate

  • Straight-time rate means the hourly rate of remuneration.

  • U.S. Prime Rate means, at any time, the fluctuating annual rate of interest established by the Administrative Agent from time to time as being the reference rate of interest it will use at such time in the U.S.A. for determining rates of interest on USDollar commercial loans to its customers in the U.S.A. and designated at its US prime rate plus (b) the Applicable Margin; adjusted automatically with each change in the established, quoted or published rate, all without necessity of notice to the Borrower or any other Person.

  • Prime Rate Margin is one-quarter of one percent (0.25%).

  • Canadian Prime Rate means, on any day, the annual rate of interest equal to the greater of (a) the annual rate of interest announced by the Canadian Reference Lender and in effect as its prime rate at its principal office in Toronto, Ontario on such day for determining interest rates on Canadian Dollar-denominated commercial loans in Canada, and (b) the annual rate of interest equal to the sum of the one-month CDOR in effect on such day plus 1.0% per annum.

  • Prime Rate means the rate of interest per annum publicly announced from time to time by JPMCB as its prime rate in effect at its principal office in New York City; each change in the Prime Rate shall be effective from and including the date such change is publicly announced as being effective.

  • Adjusted Prime Rate A rate per annum equal to the sum of (a) the Prime Rate Margin and (b) the greater of (i) the Prime Rate or (ii) one percent (1%) in excess of the Federal Funds Effective Rate. Any change in the Adjusted Prime Rate shall be effective immediately from and after such change in the Adjusted Prime Rate.

  • Original Reference Rate means the originally-specified benchmark or screen rate (as applicable) used to determine the Rate of Interest (or any component part thereof) on the Notes.

  • Reference Rate Screen Page means the Reference Rate Screen Page, as specified in § 2 of the Product and Underlying Data (or on any successor page, which will be notified by the Calculation Agent pursuant to § 6 of the General Conditions).

  • Compounded Daily Reference Rate means, with respect to an Interest Period, the rate of return of a daily compound interest investment in the Specified Currency (with the applicable Reference Rate (as indicated in the relevant Final Terms and further provided for below) as the reference rate for the calculation of interest) and will be calculated by the Calculation Agent on the Interest Determination Date, as follows, and the resulting percentage will be rounded, if necessary, to the fifth decimal place, with 0.000005 being rounded upwards:

  • Reference Rate means the rate specified as such hereon.

  • Adjusted LIBOR Rate means, at any time with respect to any LIBOR Loan, a rate per annum equal to the LIBOR Rate as in effect at such time plus the Applicable Margin Percentage for LIBOR Loans as in effect at such time.

  • SONIA Reference Rate means, in respect of any London Banking Day, a reference rate equal to the daily Sterling Overnight Index Average ("SONIA") rate for such London Banking Day as provided by the administrator of SONIA to authorised distributors and as then published on the Relevant Screen Page (or if the Relevant Screen Page is unavailable, as otherwise is published by such authorised distributors) on the London Banking Day immediately following such London Banking Day; and

  • Hurdle Rate means the minimum annual rate of return over the Net Asset Value at launch, or the beginning of the relevant Performance Period, as applicable, that must be achieved before an Equalisation Performance Fee is applied (details of which are set out in the section headed “Unit Class Information” in the Supplement for the relevant Fund where applicable). This rate is accrued at each Valuation Point.

  • Free Margin means the amount of funds available in the Client Account, which may be used to open a position or maintain an Open Position. Free Margin shall be calculated as: Equity less (minus) Necessary Margin [Free margin = Equity- Necessary Margin].

  • Wage Rate refers to an Employee’s hourly rate of pay reflected by the pay grade of her position and her step within that grade, as set out in the Wage Rate grid in Appendix II.

  • Base Rate Margin has the meaning set forth in the definition of Applicable Margin.

  • Adjusted Base Rate means the Base Rate plus the Applicable Percentage.

  • Applicable Prime Rate Margin shall have the meaning provided in section 2.7(g).

  • Base Rate means a fluctuating interest rate per annum in effect from time to time, which rate per annum shall at all times be equal to the highest of:

  • Initial LIBOR Rate Not applicable.

  • U.S. Base Rate means, on any day, the annual rate of interest equal to the greater of (a) the annual rate of interest announced by a commercial Canadian bank selected by the Lender and in effect as its base rate at its principal office in Toronto, Ontario on such day for determining interest rates on Dollar demand commercial loans in Canada, and (b) the sum of the Federal Funds (Effective) Rate plus 0.50% per annum.

  • 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.

  • Applicable LIBOR Rate Margin means the following per annum percentages, applicable in the following situations:

  • CD Base Rate has the meaning set forth in Section 2.07(b).

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

  • Applicable Reference Rate means, for any Eurocurrency Rate Loan denominated in any LIBOR Quoted Currency, LIBOR and for any Eurocurrency Rate Loan denominated in Euro that are made to Designated Borrowers that are Foreign Subsidiaries), EURIBOR, as applicable.