New Money definition

New Money means money advanced in excess of the outstanding principal balance at the time a new advance is made.

New Money shall refer to the increase in funding recognized by the school corporation as being available for teacher salaries.

New Money means funds raised during a twelve- month period designated and described in the annual program application. These funds cannot include interest income from endowments or interest from other funds raised previous to July 1 of the year of application.

Examples of New Money in a sentence

• The completion of the Concurrent New Money Issuance is subject to market conditions.

• Accordingly, a Participant may make a New Money Election to invest in the Company Stock Fund or to cease future investments in such Fund in the same manner as any other Investment Option.

• No assurance can be given that the Exchange Offer and the Concurrent New Money Issuance will be completed and the Company reserves the right to amend, withdraw or terminate the Exchange Offer and the Concurrent New Money Issuance with or without conditions.

• Upon payment or satisfaction in full of the DIP New Money Claims and DIP ABL Claims (except the Excluded DIP Obligations) in accordance with the terms of this Plan, on the Effective Date all liens and security interests granted to secure such obligations shall be terminated and of no further force or effect.

• Except to the extent that a holder of a DIP New Money Claim or DIP ABL Claim agrees to less favorable treatment, the Reorganized Debtors shall pay, on the Effective Date, in full and complete satisfaction, settlement and release of such Claim, except for the Excluded DIP Obligations, an amount in Cash equal to the Allowed amount of such DIP New Money Claim or DIP ABL Claim, as applicable, and all commitments under the DIP Agreement shall terminate.

More Definitions of New Money

New Money means money advanced in excess of the outstanding principal balance at the time a

New Money. The excess, if any, of the amount applied to the new policy over the Old Money, on or within 12 months after the issue date of the new policy.

New Money is defined as the amount of the total projected basic grant for the current year ending June 30, 2023, less the total amount of the total basic grant for the previous year on June 30, 2022. This “New Money” is available for bargaining teacher salaries, fringe benefits (e.g. TRF, FICA, VEBA, insurance contributions, retirement benefits, etc.) and stipends. One-time money paid in recognition of a particular performance in a compensation category. This stipend/bonus is treated as compensation subject to applicable state and local taxes. Recurring money added to the teacher’s base salary (excluding any stipend) All teacher salaries will range between $40,000 and $75,373.53 for this contract period. Teachers may not earn salaries that exceed the salary range. Teachers may earn money from ECAs and stipends more than the salary range. Teachers rated Ineffective or Improvement necessary will not be eligible for any salary increase (categories 1, 2, or 3) in the current year and will remain at their salary from the prior year. Teachers earn the stipend/bonus regardless of rating. Teachers who are not employed by Union-North United School Corporation when the stipend is paid out are not eligible to receive the stipend. In order to qualify for the fall stipend, the teachers must be currently employed by Union-North United School Corporation and must have completed between 53 and 120 paid days of service (including sick and personal days used) during the 2020-2021 school year. In order to qualify for the spring stipend, the teachers must be employed by Union-North United School Corporation during the 2021-2022 school year for between 1-120 days by March 1, 2022. Teachers who are rated Highly Effective or Effective under the Union North RISE evaluation model will be eligible to earn 6 units. Teachers who are rated Needs Improvement or Ineffective will be eligible for 0 units. Upon completing 120 days with the corporation, each staff member will be eligible to earn 1 unit. Teachers with 15 credit hours beyond a bachelor’s degree will earn 1 unit and those with 30 credit hours beyond a bachelor’s degree will earn 2 units. Teachers may not earn more than 2 units for education. For every 10 hours of professional development, leadership, or addressing of academic needs for students, teachers will earn 1 unit up to a maximum of 3 units. The building principal must approve all activities and a log of the teacher’s hours must be confirmed. If sufficient hours to earn a unit ar...

New Money is defined in the Intercreditor Agreement.

New Money is, at any relevant time, all principal amounts from time to time outstanding under the various facilities under the Credit Agreement at that time in excess of the Old Money. The maximum amount of the New Money will be the difference between the (pound)111,163,893.43 of outstanding principal referred to above and the sterling equivalent of $225M which will be calculated at the spot rate of exchange used under the Restructuring Deed on the date of the Restructuring.

New Money. Excludes Add'l Days Contract Year Vermont State Employees

New Money. Means the difference between