Vacation Credit definition

Vacation Credit means one (1) day (7.25 hours) of paid vacation.

Split View

AI-Powered Contracts

Draft, Review & Redline at the Speed of AI

Get StartedSchedule a Demo

Vacation Credit means an ownership interest in a Vacation Club that entitles the owner to use VC Resorts. "VC Resorts" means those properties owned in fee simple by a Vacation Club, or in which a Vacation Club has a valid leasehold interest, which an Obligor who is a Vacation Credit owner has limited rights to use under the terms of an Installment Sale Contract between an Originator, such Obligor and the corresponding Vacation Club, as more fully described in the Applicable Declaration and other Applicable Timeshare Documents (as such terms are defined in the Sale Agreement). This definition includes all VC Resorts in existence as of the date of this Agreement or which come into existence during the term of this Agreement.

Vacation Credit. The employee will start earning vacation credit based on total service credit. The Company Health and Dental Coverage: Premiums continue to be maintained by the Company. The Company Pension Pian: Employee contributions recommence. The Company Group Life insurance Plan: Employee contributions recommence.

Examples of Vacation Credit in a sentence

• Academic Year Employees Accrual of Vacation Credit: Academic year employees shall not accrue credit for vacation leave and shall not be granted any such leave.

• Employees will accrue the under-noted vacation credits for each month in which they work fifteen (15) days or more during their first and subsequent Vacation Credit Years.

• Bargaining unit members accrue paid vacation in accordance with the following schedule: Vacation Credit Service Requirement Annual Accrual in Days Date of hire up to 5 years 20 days 5 years up to 10 years 21 days 10 years up to 20 years 22 days 20 or more years 23 days Vacation continues to accrue in the following circumstances: • During military leave.

• For the purpose of calculating vacation credits, Vacation Credit Years will be computed from July 1st in each year to June 30th inclusive in the following year.

• In addition to the above vacation credits Employees shall receive, in the first full pay period each July, an additional payment for all overtime worked during the previous Vacation Credit Year.

• It is the intent of the parties that employees shall be required to use Vacation Credit as vacation.

• This payment shall be calculated as follows: During the first (1st) Vacation Credit Year: 4% of overtime hours worked.

• All hours credited on an employee's first eligibility date and as earned during each succeeding year of service, in excess of the number of hours to be allocated to the employee's Sick Leave Credit as aforesaid, shall be referred to as the employee's Vacation Credit.

• During second (2nd) to seventh (7th) Vacation Credit Year: 6% of overtime hours worked.

• Any employee who is laid off (on other than a temporary layoff of fourteen (14) calendar days or less) shall receive pay in lieu of all of his/her hours of Vacation Credit and Sick Leave Credit earned and unused up to the effective date of layoff irrespective of whether he/she has been employed until his/her eligibility date.

More Definitions of Vacation Credit

Vacation Credit. Lobo Gymnastics Active offers 2 weeks of vacation credit annually. In order to use your vacation credit, you must notify the office in writing 2 weeks in advance. You will pay ½ the weekly full- time tuition( $ ) for those weeks, due and payable prior to the weeks of vacation. Late payment fees will be assessed for payments made after returning from vacation. Vacation credits are non-transferable. For any additional weeks missed, full weekly tuition ( ) is assessed. Late payment fees will apply. Our school-age Summer Camp Program allows you to select only the weeks that you need. Vacation credits may not be used toward your 1 month withdrawal notice. Initial  Childcare Program: Comfortable non-restrictive clothing is always best for young children. Please have children wear tennis shoes and socks daily.  After-school & School-age program: Due to the variety of activities, proper clothing must be worn in order for your child to participate in activities at Lobo Gymnastics. NO BLUE JEANS, zippers or jewelry may be worn at any time. In Gym-Plex, girls must wear the Lobo one-piece leotard; boys need to wear a Lobo Active t-shirt tucked into black elastic-waist sport shorts.  The parents are responsible for signing the children in and out each day.  Breakfast, lunch and snacks are provided daily for the Infants through Pre-Kindergarten children year round. A sack lunch may need to be provided by parents on special occasions. Parents of school-age children must provide a healthy lunch and drink for summer/holiday hours. ▇▇▇▇ will provide the snacks on the days children are in the building. WE CANNOT REFRIGERATE OR MICROWAVE LUNCHES. You must provide your own forks, spoons, and bowls when the meal warrants.  All field trips must have permission slips signed prior to participation in the scheduled trips.  I give consent to photograph for marketing and advertising purposes, as well as acknowledge these photos will be posted to ▇▇▇▇'▇ website, Flickr, and Facebook accounts for parents to view.  Lobo Gymnastics Active is not responsible for lost, stolen, traded and broken personal items.  All admission paper work must be completed in full and updated with new information when necessary.  Any special medical, food or personal needs must be conveyed to director when they occur.  I have received information on policies and procedures located in the parent handbook. Agreement Signature: Date: Lobo Staff Signature: Date: