Monthly Hire Basis definition

Monthly Hire Basis means hiring of a vehicle for the whole month from first day of a calendar month. In the event of hiring of a vehicle other than on the first day of the month, the payment shall be made on a pro-rata basis by multiplying the monthly hire charges by actual days of hire and dividing the result by the number days in the calendar month in which the vehicle has been hired. For vehicles hired on monthly basis, the reporting place of the vehicle is mentioned in the tender. The reporting time of vehicle will be as communicated by the Nodal officer from time to time.
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Related to Monthly Hire Basis

  • Interest Rate Basis means the Base Rate Basis or the LIBOR Basis, as appropriate.

  • Monthly Salary Rate means the amount agreed to by Owner that can be used on Applications for Payment throughout the Construction Phase to account for the monthly salary costs of Contractor’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 Owner in advance of any Application for Payment for that person. The Monthly Salary Rate is for convenience only and any payments made for Contractor’s personnel are subject to audit to determine the actual cost of the wages and allowable employer contributions incurred by Contractor for services performed. The initial Monthly Salary Rate is included in Exhibit “G” attached to this Agreement.

  • Eligible Basis has the meaning given to it in Section 42(d) of the Code.

  • Average Error Rate for a billing month is the sum of Error Rates for each hour in the billing month divided by the total number of hours in the billing month.

  • Monthly Payment Rate means, for any Monthly Period, a fraction (expressed as a percentage), (a) the numerator of which is the Principal Collections during such Monthly Period, and (b) the denominator of which is the Combined Outstanding Principal Balances as of the beginning of such Monthly Period.