Replacement Allowance(s) definition
Examples of Replacement Allowance(s) in a sentence
Employees will turn back to the Company all Income Replacement Allowances received.
While attending an approved vocational school under the direction of the relevant government authority, the apprentice will be eligible for Canada Manpower Training Allowances, such as Income Replacement Allowances, Living Away From Home Allowances and Travel Allowance, from the government according to its schedule of grants pertaining to Apprenticeship Training.
It is the mutual understanding of the Parties to this Agreement that the Custodial Allowances, or in case of a Loss of Custodial Allowances, the Replacement Allowances shall be treated as rights in rem which can be separated, especially within the meaning of section 47 of the German Insolvency Code.
Any Replacement Allowances (as defined in Article 6.2. of the Custody Agreement) replacing Lost Allowances (as defined in Article 6.1. of the Custody Agreement) are subject to the terms and conditions of this Escrow Agreement in the same way and covering the same Covered Obligations as the lost Escrow Allowances that they are replacing, until they are released from escrow pursuant to Article 5.
It is the mutual understanding of the Parties to this Agreement that the Escrow Allowances, and in case of Loss, the Replacement Allowances, shall be treated as rights in rem which shall be treated as if they can be separated, especially within the meaning of section 47 of the German Insolvency Code.
For avoidance of doubt, any Replacement Allowances (as defined in Article 7.2. of the Custody Agreement) are subject to the terms and conditions of this Escrow Agreement in the same way and covering the same Covered Obligations as the Lost Allowances that they are replacing, until they are released from escrow pursuant to Article 6 of this Agreement.
ECC shall moreover segregate the Escrow Allowances and Replacement Allowances in the Union registry on an omnibus basis as set forth in Article 4.3. of the Custody Agreement.
In case of return of Custodial Allowances, Replacement Allowances and/or Remaining Allowances, the Custodian shall immediately notify EEX and request the cancellation of the auctions covered by the Custodial Allowances concerned without delay, provided however that such cancellation does not result in the revocation of any Transfer Orders after the moment that such Transfer Orders became irrevocable in accordance with the provisions of the Settlement Finality Directive.
This shall mean that in case of an Insolvency Event of ECC, the Member States are entitled, based on this Agreement, to claim the separation (“Aussonderung”) of the Escrow Allowances and Replacement Allowances from the insolvency estate of ECC pursuant to section 47 of the German Insolvency Code, as owners with full legal rights (“Vollrechtsinhaber”).
All Replacement Allowances will continue to be deemed deposited subject to the terms and conditions of this Custody Agreement, until they have been returned or delivered pursuant to Article 4.