Loaded Rate definition

Loaded Rate means the appropriate fortnightly wage rate, for each Permanent or Permanent Part-Time CPO engaged to perform continuous shift work, and is calculated to include the following:
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Loaded Rate means one thirty-eighth of the weekly rate for the work performed plus 20% (ie. loading in lieu of annual leave, sick leave and public holidays) plus an additional amount for shift penalties (ie. either 15%, 30%, 50% or 100% as prescribed in Part V - HOURS OF WORK, PENALTY PAYMENTS, SHIFT WORK AND OVERTIME, Clause 5 - Shift
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Loaded Rate means one thirty-eighth of the weekly rate for the work performed plus 20% (ie. loading in lieu of annual leave, personal leave and public holidays) plus an additional amount for shift penalties (ie. either 15%, 30%, 50% or 100% as prescribed in Part V - HOURS OF WORK, PENALTY PAYMENTS, SHIFT WORK AND OVERTIME, Clause5 - Shift Work - Division A - Process Attendants Finfish and/or Shellfish) of one thirty- eighth of the weekly rate for the work performed. Example: The hourly rate for a casual Process Attendant Level 1, (weekly rate $527.10), for working an afternoon shift (15% loading) shall be calculated as follows: $1/38th of weekly rate13.87plus 20% of $13.872.77Sub total16.64plus 15% of 1/38th of weekly rate $13.872.08Total per hour18.72
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Examples of Loaded Rate in a sentence

  • Periods of annual/recreation leave accrued as an Employee are paid at the Loaded Rate based on the number of hours that would have been worked over the period of absence.


More Definitions of Loaded Rate

Loaded Rate means one thirty-eighth of the weekly rate for the work performed plus 20% ( i.e. loading in lieu of annual leave, sick leave and public holidays) plus an additional amount for shift penalties (i.e. either 15%, 30%, 50% or 100% as prescribed in Clause 32 - SHIFT WORK) of one thirty-eighth of the weekly rate for the work performed.
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Loaded Rate means one thirty-eighth of the weekly rate for the work performed plus 20% ( i.e. loading in lieu of annual leave, sick leave and public holidays) plus an additional amount for shift penalties (i.e. either 15%, 30%, 50% or 100% as prescribed in Clause 32 - Shift Work) of one thirty-eighth of the weekly rate for the work performed. Example: The hourly rate for a casual Process Attendant Level 1, (weekly rate$313.90), for working an afternoon shift (15% loading) shall be calculated as follows: 1/38th of weekly rate=$8.26plus 20% of $8.26=1.65Sub Total $9.91plus 15% of 1/38th of weekly rate ($8.26) 1.24Total $11.15 per hour
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Loaded Rate means the applicable Loaded Hourly Rate in Schedule 1 of this Agreement.
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Related to Loaded Rate

  • 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.

  • Reference Interest Rate means the interest rate which is used as the basis for calculating any interest to be applied and which comes from a publicly available source which can be verified by both parties to a payment service contract;

  • 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.

  • CMS Rate means the applicable swap rate for swap transactions in the Reference Currency with a maturity of the Designated Maturity, expressed as a percentage, which appears on the Relevant Screen Page as at the Specified Time on the relevant Interest Determination Date in question, all as determined by the Calculation Agent.

  • Reference Rate means the rate specified as such hereon.

  • LIBOR Rate means a rate per annum (rounded upwards, if necessary, to the next higher 1/100th of 1%) determined by the Administrative Agent pursuant to the following formula: LIBOR Rate = LIBOR 1.00-Eurodollar Reserve Percentage

  • LIBOR Base Rate means, for each Interest Period, the London interbank offered rate for six-month deposits in Dollars for value the first day of such Interest Period (or, in the case of the initial Interest Period, for value the Interest Payment Date occurring on or next preceding the first day of such Interest Period), as reasonably determined by the Bank and expressed as a percentage per annum.

  • Adjusted LIBO Rate means, with respect to any Eurodollar Borrowing for any Interest Period, an interest rate per annum (rounded upwards, if necessary, to the next 1/16 of 1%) equal to (a) the LIBO Rate for such Interest Period multiplied by (b) the Statutory Reserve Rate.

  • Prescribed Rate means the rate of 4% above The Royal Bank of Scotland plc base rate from time to time in force.