Vacation Credit definition

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

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.

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.

Examples of Vacation Credit in a sentence

• Each Member has the right to occupy and use a Unit and the Property during such Member’s Vacation Credit Use or Bonus Time, reserved pursuant to the Rules.

• The Committee shall credit to each Participant's Unused Vacation Account such Participant's portion of the Unused Vacation Credit and shall credit to each Participant's Spillover Account such Participant's portion of the Spillover Credit so that all such Unused Vacation Credits and Spillover Credits shall become effective and be entered in each Participant's Unused Vacation Account as of the last day of the Plan Year to which they are attributable.

• A Membership in the Club is a vacation license which constitutes only (a) a right to use and occupy a Unit during the Member’s Vacation Credit Use or Bonus Time, (b) a nonexclusive license to use, enjoy and occupy the Property and recreational facilities appurtenant thereto during Member’s Vacation Credit Use or Bonus Time, (c) voting rights in the Club as described in the Bylaws, and (d) participation in the corporate ownership of the real estate and other assets of the Club.

• The Master Servicer shall remit the Vacation Credit Purchase Price to the Trustee for immediate deposit into the Collection Account and such remittance shall be deemed to be a collection of principal with respect to such Defaulted Receivable.

• Whether or not Buyer hires after the Closing any employees of Seller (including XxXxxxxx or Xxxxx), Seller shall be responsible for all compensation and benefits (including, without limitation, salary, bonus, accrued vacation, any benefits attributable to compensation and service earned prior to the Closing, and sick pay) accruing prior to the Closing Date, except as otherwise provided in this Section with respect to the Accrued Vacation Credit.

• Prior to the termination of this Agreement, the obligations of the Servicer under this Agreement shall not be subject to any defense, counterclaim or right of offset which the Servicer has or may have against the Issuer, the Trustee or any Noteholder whether in respect of this Agreement, the Indenture, the Notes, the Receivables Purchase Agreement, any Contract, Receivable, Vacation Credit or otherwise.

• Without limiting the generality of Section 3.2, Buyer is not assuming any obligations or Liability (i) to any of Seller’s employees for sick or vacation pay or other benefits (except as otherwise provided in this Section with respect to the Accrued Vacation Credit), or (ii) under any Employee Benefit Plan.

• The Company shall not suffer or permit the amount of its inventory at the close of any fiscal quarter, including (i) costs of unsold Vacation Credits and (ii) construction in progress, to exceed 40% of aggregate Vacation Credit sales revenues, net of rescissions, reversals, and cash discounts, for the period of four consecutive fiscal quarters then ended.

• The Committee shall separately allocate the Unused Vacation Credit for each Plan Year among the Employer's Participants by allocating to each such Participant an amount equal to the Unused Vacation Credit made on his behalf.

• A Member other than Declarant may charge a fee or rent for the use of a Unit during such Member’s Vacation Credit Uses by a guest or invitee.

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. Xxxx 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 Xxxx'x 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: