Interest-free Loans Sample Clauses

Interest-free Loans. The District shall provide, upon application, interest-free loans for tuition for approved course work leading toward a Masters’ degree, approved course work, or to gain an endorsement. A maximum of $5000 per applicant may be requested annually. The District shall pay the university or college directly. Repayment of such loans shall be made over the remainder of the contract year through payroll deduction.
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Interest-free Loans. 1. The employee must complete Part 1-A and Part 1-B of the Request for Interest- Free Loan section of the Education Assistance Request (form D-3075). The form must be forwarded to the Manager for endorsement/support (part 2 must be completed by the manager). The manager must indicate reasons for supporting the application based on the employee’s career development needs and job performance.
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Interest-free Loans. Employees may secure an interest-free loan against his/her current annualized wages for the purpose of pursuing additional undergraduate/graduate study. Employees must submit evidence with the loan application that he/she is registered for undergraduate/graduate study in a regionally accredited institution of higher education to be eligible to receive an interest-free loan. A maximum of five percent (5%) of the employee's annualized wages may be owed at any one time. Such advances may be made only during the period when the employee is actively employed and shall be limited to two such advances during a budget year. The total amount advanced shall be repaid by equal wage/salary deductions over the balance of the budget year in which the loan occurs. Upon discontinuation of active employment, any unpaid portion of a loan shall become immediately due and payable, and shall be deducted in full from his/her pay.
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Interest-free Loans. New employees in those job classifications receiving a car allowance will be made aware of the option of securing a no-interest loan of up to $1,999.00 through the Employer for the sole purpose of acquiring a vehicle.
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Interest-free Loans. An ASA member may secure an interest-free loan against their current base salary for the purpose of pursuing additional graduate study. ASA members must submit evidence with the loan application that they are registered for graduate study in a regionally accredited institution of higher education to be eligible to receive an interest-free loan. A maximum of five percent (5%) of the ASA member’s base salary may be owed at any one time. Such advances shall be made only during the period when the ASA member is actively employed and shall be limited to two such advances during a fiscal year. The total amount advanced shall be repaid by equal salary deductions over the balance of the fiscal year in which the loan occurs. Upon termination of employment, any unpaid portion of a loan will be deducted in full from the ASA member’s final paycheck.
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Related to Interest-free Loans

  • Loans The Sponsor has agreed to make loans to the Company in the aggregate amount of up to $300,000 (the “Insider Loans”) pursuant to a promissory note substantially in the form annexed as an exhibit to the Registration Statement. The Insider Loans do not bear any interest and are repayable by the Company on the earlier of December 31, 2021 or the consummation of the Offering.

  • Loan Payments (a) The Loan shall bear interest at a fixed rate per annum equal to the Note Rate. Interest shall be computed based on the daily rate produced assuming a three hundred sixty (360) day year, multiplied by the actual number of days elapsed. Except as otherwise set forth in this Agreement, interest shall be paid in arrears.

  • Interest on Loans (a) Except as otherwise set forth herein, each Class of Loan shall bear interest on the unpaid principal amount thereof from the date made through repayment (whether by acceleration or otherwise) thereof as follows:

  • Interest on Floating Rate Notes (a) Interest Payment Dates Each Floating Rate Note bears interest from (and including) the Interest Commencement Date and such interest will be payable in arrear on either:

  • Repayment of Loans; Evidence of Debt (a) The Borrower hereby unconditionally promises to pay to the Administrative Agent for the account of each Lender the then unpaid principal amount of each Loan on the Maturity Date.

  • Repayment of Loans (a) The Borrower shall repay to the Lenders on the Maturity Date the aggregate principal amount of Committed Loans outstanding on such date.

  • Related Loans (a) Assuming Institution shall use its best efforts to determine which loans are “Related Loans,” as hereinafter defined. The Assuming Institution shall not manage, administer or collect any “Related Loan” in any manner that would have the effect of increasing the amount of any collections with respect to the Related Loan to the detriment of the Shared-Loss Loan to which such loan is related. A “

  • Reductions in Class Principal Balances of the Notes On each Payment Date on or prior to the Termination Date, the Class Principal Balance of each Class of Original Notes will be reduced (in each case without regard to any exchanges of Exchangeable Notes for MAC Notes), without any corresponding payment of principal, by the amount of the reduction, if any, in the Class Notional Amount of the Corresponding Class of Reference Tranche due to the allocation of Tranche Write-down Amounts to such Class of Reference Tranche on such Payment Date pursuant to Section 3.03(b) above. If on the Maturity Date or any Payment Date a Class of MAC Notes is outstanding, all Tranche Write-down Amounts that are allocable to Exchangeable Notes that were exchanged for such MAC Notes will be allocated to reduce the Class Principal Balances or Notional Principal Amounts, as applicable, of such MAC Notes in accordance with the exchange proportions applicable to the related Combination.

  • Determination of Interest Rates for the LIBOR Floating Rate Classes The Interest Rates for the LIBOR Floating Rate Classes for each Interest Accrual Period shall be determined by Xxxxxx Xxx or the Paying Agent on the Index Determination Date in the month following the month in which the Settlement Date occurs and on each Index Determination Date thereafter so long as the LIBOR Floating Rate Classes are outstanding on the basis of LIBOR and the applicable formulae specified in the Prospectus Supplement or the Lower Tier Schedule, as the case may be. For any period during which LIBOR for any LIBOR Floating Rate Class is to be determined on the basis of the “LIBO Method” (as defined in the Prospectus), until such Class is paid in full, Xxxxxx Mae shall at all times retain at least four Reference Banks (as defined in the Prospectus). The Paying Agent and Xxxxxx Xxx shall have no liability or responsibility to any Person for (i) the selection of any Reference Bank for purposes of determining LIBOR or (ii) any inability to retain at least four Reference Banks which is caused by circumstances beyond their reasonable control. In determining LIBOR, any Interest Rate for the LIBOR Floating Rate Classes or any Reserve Interest Rate (as defined in the Prospectus), Xxxxxx Mae or the Paying Agent may conclusively rely and shall be protected in relying upon the rates or offered quotations (whether written, oral or disseminated by means of an electronic information system) provided by the sources specified in the Prospectus. Neither Xxxxxx Xxx nor the Paying Agent shall have any liability or responsibility to any Person for (i) the Paying Agent’s selection of New York City banks for purposes of determining any Reserve Interest Rate or (ii) its inability, following a good-faith reasonable effort, to obtain the applicable rates or quotations or to determine the arithmetic mean of such quotations, all as provided for in the Prospectus.

  • Payments to MAC Notes If on the Maturity Date a Class of MAC Notes that is entitled to principal is outstanding, all principal amounts that are payable by Freddie Mac on Class M Notes that were exchanged for such MAC Notes will be allocated to and payable on such MAC Notes in accordance with the exchange proportions applicable to the related Combination. The Interest Only MAC Notes are not entitled to receive payments of principal.

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