Qualified Leave definition

Qualified Leave means military leave, sick leave, or other bona fide leave of absence if the period of such leave does not exceed six months, or if longer, so long as the individual retains a right to reemployment with the service recipient under an applicable statute or by contract. A leave of absence constitutes a bona fide leave of absence only if there is a reasonable expectation that the employee will return to perform services for the employer. If the period of leave exceeds six months and the individual does not retain a right to reemployment under an applicable statute or by contract, the employment relationship is deemed to terminate on the first date immediately following such six-month period.
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Examples of Qualified Leave in a sentence

  • An Unqualified Leave means a leave of absence that is not a Qualified Leave or loses its status as a Qualified Leave due to the expiration of the allowable Qualified Leave period of six (6) months (or longer, if applicable, as described above)..

  • Within ten (10) days prior to the anticipated Closing Date, Sellers shall provide the Buyer with a list of any applicable individuals who are expected to be Qualified Leave Recipients as of the Closing Date and shall update that list from time to time through the Closing Date as necessary.

  • Within ten (10) days prior to the anticipated Closing Date, the Endo Companies shall provide the Buyers with a list of any applicable individuals (on a no-name basis where required by applicable Law) who are expected to be Qualified Leave Recipients as of the Closing Date, including the Qualified Leave Recipient’s employee identification number, type of leave and their respective expected date of return, if known, and shall update that list from time to time through the Closing Date as necessary.

  • Proration of Awards The circumstances that may warrant a prorated Award include, but are not limited to:  Changes in base salary;  Changes in Individual Target Award opportunity (due to a promotion, demotion or participation in a PIP);  Date of Plan eligibility;  Normal Retirement; and  Qualified Leave of Absence, Permanent Disability or Death of the Participant.

  • Notwithstanding any other provision of this Plan and in accordance with the Uniformed Services Employment and Reemployment Rights Act of 1994 ("USERRA"), this Article shall apply to Participants reemployed on or after December 12, 1994, after a Qualified Leave.

  • The Company has not (i) requested an “advance payment of employer credits” on Internal Revenue Service Form 7200 or otherwise and has not received a refund of tax credits for Qualified Leave Wages or the “employee retention credit” described in the 2020 Tax Acts, or (ii) deferred any payroll tax pursuant to the 2020 Tax Acts.

  • If such Participant's pre-Qualified Leave Compensation was not based on a fixed rate, the calculation will be based on such Participant's average rate of pay during the 12-month period immediately preceding the Qualified Leave or, if shorter, the Participant's period of employment immediately preceding the Qualified Leave.

  • Participant's Qualified Leave shall not be considered as a Break in Service, but shall be deemed to constitute continuous Service with the Employer for purposes of determining such Participant's Accrued Benefit under this Plan and his Vested interest therein.

  • A Participant whose employment with the Company terminates before the Bonus Payment Date for any reason other Normal Retirement, Qualified Leave of Absence, Permanent Disability or Death (in each case, as determined by the Committee) is not eligible for an Award unless otherwise approved in writing by the Committee, upon a recommendation of the CEO.

  • If any break in Vesting Service occurs as a result of a Qualified Leave of Absence, it shall not restrict any Participant from immediately beginning to receive credit for Vesting Service immediately upon his return from such Qualified Leave of Absence.

Related to Qualified Leave

  • Qualified Loan means a loan made under this act or former 1961 PA 108 from this state to a school district to pay debt service on a qualified bond.

  • Qualified Liquidation The meaning set forth from time to time in the definition thereof at Section 860F(a)(4) of the Code (or any successor statute thereto) and applicable to the Trust.

  • Qualified Military Service means any service in the uniformed services (as defined in chapter 43 of title 38, United States Code) by any individual if such individual is entitled to reemployment rights under such chapter with respect to such service.

  • Qualified Lender means a lender approved by the federal department of housing and urban development to enter into a loan insured by the federal government under 12 USC 1715z−20.

  • Qualified license means a valid support agreement to include Embedded Maintenance with SAP

  • Family leave means any leave taken by an employee from

  • Disqualified Lender means (i) any Person identified in writing by the Borrower or the Sponsor to the Administrative Agent on or prior to May 4, 2017, (ii) any other Person identified by name in writing to the Administrative Agent after May 4, 2017 to the extent such Person is or becomes a competitor of the Borrower or its subsidiaries and (iii) any Affiliate of any Person referred to in clause (i) or (ii) above that is clearly identifiable on the basis of its name; provided that a “competitor” or an Affiliate of any Person referred to in clauses (i) or (ii) above shall not include any Bona Fide Debt Fund or investment vehicle that is engaged in making, purchasing, holding or otherwise investing in commercial loans, bonds and similar extensions of credit in the ordinary course of business which is managed, sponsored or advised by any Person controlling, controlled by or under common control with such competitor or Affiliate, as applicable, and for which no personnel involved with the investment of such competitor or Affiliate thereof, as applicable, (i) makes any investment decisions or (ii) has access to any information (other than information that is publicly available) relating to the Loan Parties or any entity that forms a part of the Loan Parties’ business (including their subsidiaries); provided, further, that (x) no Affiliate of an Initial Lender shall be designated a Disqualified Lender, (y) the Administrative Agent shall not have any responsibility for monitoring compliance with any provisions of this Agreement with respect to Disqualified Lenders and (z) updates to the Disqualified Lender list shall not retroactively invalidate or otherwise affect any (A) assignments or participations made to, (B) any trades entered into with or (C) information provided to, any Person before it was designated as a Disqualified Lender. It is acknowledged and agreed by the Borrower that the Administrative Agent shall be permitted to disclose to any Lender upon such Lender’s request whether any potential assignee or participant is a Disqualified Lenders.

  • Approved Leave of Absence means an absence from active service pursuant to an approved leave policy with a guaranteed right of reinstatement.

  • Qualified Retirement means a retirement from Service by the Executive in which, at the time of such retirement, the sum of the Executive’s age and aggregate 12-month completed periods of Service (whether or not such completed 12-month periods are consecutive), in each case without giving credit for any partial years, equals or exceeds 75.

  • Disqualified Lenders means (i) those Persons identified by the Borrower to the Joint Lead Arrangers and the Administrative Agent in writing prior to August 12, 2019 as being “Disqualified Lenders,” (ii) those Persons who are competitors of Holdings, the Borrower and its Restricted Subsidiaries identified by the Borrower to the Administrative Agent from time to time in writing (including by email) as being “Disqualified Lenders”, which designation shall become effective three (3) Business Days after delivery of each such written designation to the Administrative Agent, but which shall not apply retroactively to disqualify any Persons that have previously acquired an assignment or participation interest in the Loans or Commitments and (iii) in the case of each Person identified pursuant to clauses (i) and (ii) above, any of their Affiliates that are either (x) identified in writing by the Borrower to the Administrative Agent from time to time, which designation shall become effective three (3) Business Days after delivery of each such written designation to the Administrative Agent, but which shall not apply retroactively to disqualify any Persons that have previously acquired an assignment or participation in the Loans or Commitments or (y) clearly identifiable as Affiliates at such time solely on the basis of such Affiliate’s name (other than, in either case, Affiliates that are bona fide debt funds, fixed income investors, regulated bank entities or unregulated lending entities generally engaged in making, purchasing, holding or otherwise investing in commercial loans, debt securities or similar extensions of credit in the ordinary course of business); provided that the term “Disqualified Lender” shall exclude any Person that the Borrower shall have designated as no longer being a “Disqualified Lender” by written notice delivered to the Administrative Agent from time to time. Such list of Disqualified Lenders shall be available for inspection upon request by any Lender.

  • Exempt income means all of the following:

  • Eligible Real Estate means Real Estate:

  • Qualified employee means an individual who:

  • Disqualified Non-U.S. Person With respect to a Class R Certificate, any Non-U.S. Person or agent thereof other than (i) a Non-U.S. Person that holds such Class R Certificate in connection with the conduct of a trade or business within the United States and has furnished the transferor and the Certificate Administrator with an effective IRS Form W-8ECI or other prescribed form or (ii) a Non-U.S. Person that has delivered to both the transferor and the Certificate Administrator an Opinion of Counsel of a nationally recognized tax counsel to the effect that the transfer of such Class R Certificate to it is in accordance with the requirements of the Code and the regulations promulgated thereunder and that such transfer of such Class R Certificate will not be disregarded for federal income tax purposes under Treasury Regulations Section 1.860G-3.

  • Specified Liabilities means Claims (as defined in the Indemnification Agreement).

  • Parental leave means leave to bond and to care for a newborn child after birth or to bond and care for a child after placement for adoption or xxxxxx care, for a period of up to sixteen (16) weeks after the birth or placement.