Guaranteed Minimum Rate definition

Guaranteed Minimum Rate. You will also be guaranteed a minimum earnings amount equal to $11.00 per hour worked, unless the applicable minimum wage in your locality is higher, in which case you will be paid the higher minimum wage. Should the average of your commissions not equal or exceed this amount, the Institute will supplement your pay to this rate. In addition, starting with the Monday after the first Wednesday in which you had answered at least 200 sales calls in the season, you will be guaranteed the following minimum earning amount depending upon your rank within the office:
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Guaranteed Minimum Rate. You will also be guaranteed a minimum earnings amount equal to $11.00 per hour worked, unless a higher minimum wage is applicable, in which case you will be paid the higher minimum wage.
Sample 1Sample 2

Examples of Guaranteed Minimum Rate in a sentence

  • In the case of lump sum settlement, We will adjust the lump sum to reflect the correct Age or sex at a rate not less than the Guaranteed Minimum Rate shown on the Contract Specifications page compounded annually.

  • Any overpayment We make because of misstatement of Age or sex, together with interest thereon at not less than the Guaranteed Minimum Rate shown on the Contract Specifications page, compounded annually, will be deducted from the current or next succeeding payment or payments under this contract.

  • Any underpayments made will be added to the next payment with interest at not less than the Guaranteed Minimum Rate shown on the Contract Specifications page.

  • The research found out that guaranteed Minimum Rate of Returns given by insurance companies need to take to consideration the annual inflation rates, and agreed that the Guaranteed Minimum Rate of Returns need to be reviewed regularly to take into account prevailing market realities.It was also revealed that that government and RBA regulation of Guaranteed Pension Schemes Issuers need to be enhanced moving forward.

Related to Guaranteed Minimum Rate

  • Minimum Rate With respect to each ARM Loan, the rate per annum set forth in the related Mortgage Note as the minimum Note Rate thereunder. The Minimum Rate as to each ARM Loan is set forth on the related Mortgage Loan Schedule.

  • Maximum Rate shall have the meaning assigned to such term in Section 9.09.

  • Minimum Rate Period means any Rate Period consisting of 7 Rate Period Days.

  • Maximum Lawful Rate has the meaning set forth in Section 2.7.

  • Maximum Rate Cap Any of the Class A-1 Maximum Rate Cap, the Class A-2 Maximum Rate Cap or the Weighted Average Maximum Rate Cap.

  • Highest Lawful Rate means, with respect to each Lender, the maximum nonusurious interest rate, if any, that at any time or from time to time may be contracted for, taken, reserved, charged or received on the Notes or on other Indebtedness under laws applicable to such Lender which are presently in effect or, to the extent allowed by law, under such applicable laws which may hereafter be in effect and which allow a higher maximum nonusurious interest rate than applicable laws allow as of the date hereof.

  • Maximum Rate of Interest It is intended that the rate of interest hereon shall never exceed the maximum rate, if any, which may be legally charged on the loan evidenced by this Note ("Maximum Rate"), and if the provisions for interest contained in this Note would result in a rate higher than the Maximum Rate, interest shall nevertheless be limited to the Maximum Rate and any amounts which may be paid toward interest in excess of the Maximum Rate shall be applied to the reduction of principal, or, at the option of HSBC, returned to the Company.

  • Maximum Guaranteed Amount means as of the date of determination with respect to a Guarantor, the lesser of (a) the amount of the Guaranteed Obligations outstanding on such date and (b) the maximum amount that would not render such Guarantor’s liability under this Guaranty Agreement subject to avoidance under Section 548 of the United States Bankruptcy Code (or any successor provision) or any comparable provision of applicable state law.

  • Excess Rate With respect to each ARD Loan, the excess of (i) the applicable Revised Rate over (ii) the applicable Mortgage Rate, each as set forth in the Mortgage Loan Schedule.

  • Premium Rate has the meaning assigned to such term in the Premium Letter.

  • Minimum Royalty has the meaning set forth in Section 4.4(c).

  • Maximum Annual Debt Service means the largest Annual Debt Service for any Bond Year after the calculation is made through the final maturity date of any Outstanding Bonds.

  • Minimum Lifetime Mortgage Rate The minimum level to which a Mortgage Interest Rate can adjust in accordance with its terms, regardless of changes in the applicable Index.

  • Maximum Lifetime Mortgage Rate The maximum level to which a Mortgage Interest Rate can adjust in accordance with its terms, regardless of changes in the applicable Index.

  • Base premium rate means, for each class of business as to a rating period, the lowest premium rate charged or that could have been charged under the rating system for that class of business by the small employer carrier to small employers with similar case characteristics for health benefit plans with the same or similar coverage.

  • Minimum Disbursement Amount means Twenty-Five Thousand and No/100 Dollars ($25,000).

  • Maximum Annual Debt Service Requirement means, at any given time of determination, the greatest amount of principal, interest and Amortization Installments coming due in any current or future Bond Year with regard to the Series of Bonds for which such calculation is made; provided, the amount of interest coming due in any Bond Year shall be reduced to the extent moneys derived from the proceeds of Bonds are used to pay interest in such Bond Year.

  • Maximum Face Amount means, with respect to any outstanding Letter of Credit, the face amount of such Letter of Credit including all automatic increases provided for in such Letter of Credit, whether or not any such automatic increase has become effective.

  • Maximum Run Time means the maximum number of hours a generating unit can run over the course of an Operating Day, as measured by PJM’s State Estimator.

  • Guaranteed Sum means: The maximum aggregate amount of R

  • Minimum Mortgage Rate With respect to each Adjustable-Rate Mortgage Loan, the percentage set forth in the related Mortgage Note as the minimum Mortgage Rate thereunder.

  • Rate Year means July 1st of a given Calendar Year through June 30th of the succeeding Calendar Year.

  • Minimum Interest Rate With respect to each Adjustable Rate Mortgage Loan, a rate that is set forth on the Mortgage Loan Schedule and in the related Mortgage Note and is the minimum interest rate to which the Mortgage Interest Rate on such Mortgage Loan may be decreased.

  • Maximum Daily Quantity means the daily volume of Gas or Liquids, expressed in 103m3, identified in a Shipper's Interruptible Transportation Service Agreement that Transporter agrees to receive from Shipper under Toll Schedule Interruptible Full Path Service, Toll Schedule Interruptible Receipt Service or Toll Schedule Interruptible Delivery Service, as applicable.

  • Maximum Weekly Starts means the maximum number of times that a generating unit can be started in one week, defined as the 168 hour period starting Monday 0001 hour, under normal operating conditions.

  • Minimum DSCR means, with respect to a Supplemental Loan, (i) if the Senior Indebtedness bears interest at a fixed rate, 1.25:1, or (ii) if the Senior Indebtedness bears interest at a floating rate, 1.10:1.