Accrual Credit Sample Clauses

Accrual Credit. The extra days accrued due to service of over five (5) years are credited to each employee's account on his/her anniversary date. Employees are notified as they reach the maximum accrual limit.
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Accrual Credit. The extra days accrued due to service of over five
Sample 1
Accrual Credit. Upon the effectiveness of this Agreement and in accordance with the Recapitalization Agreement, each Holder of Warrants shall be credited an amount per share of Common Stock underlying a Warrant equal to all of the Exercise Price Accrual and LV Accrual not otherwise distributed to such Holder pursuant to the Series D Exchange or the Exercise Price Reduction specified in Section 8(a) (the “Accrual Credit”). The Accrual Credit shall remain credited to the account of such Holder until: (i) used to fund the payment of the Exercise Price of all or a portion of such Holder’s Warrants in accordance with Section 4(d), (ii) transferred in accordance with the terms of this Agreement or (iii) the date that such Holder’s Warrants are no longer exercisable in accordance with the terms of this Agreement. Notwithstanding the foregoing, a Holder’s Accrual Credit may only be used to fund the payment of the Exercise Price of such Holder’s Warrants and in the event that such Holder’s Warrants are permanently no longer exercisable in accordance with the terms of this Agreement, any remaining Accrual Credit credited to the account of such Holder shall be deemed to be forfeited to the Company. For the avoidance of doubt and subject to the penultimate sentence of this Section 8(j), the Accrual Credit per share of Common Stock underlying a Warrant for each applicable issuance of Units (calculated in accordance with the Series D Certificate and based on the applicable Issuance Date) shall be as follows: Unit Category Issuance Date Accrual Credit (per share of Common Stock underlying a Warrant) Rights Offering Units March 3, 2010 $ 4.8486 Convertible Note Units March 3, 2010 $ 4.8486 Standby Purchase Units April 19, 2010 $ 4.8810 April Guarantee Fee Units April 20, 2010 $ 4.8817 July Guaranty Fee Units July 9, 2010 $ 4.9368 The foregoing notwithstanding, upon the effectiveness of this Agreement and in accordance with the Recapitalization Agreement, each Warrant held by Pegasus or LSGC Holdings LLC at the time of the effectiveness of this Agreement shall have an Accrual Credit equal to $4.86243.
Sample 1

Related to Accrual Credit

  • Total Credit Award GO-Biz, upon approval by the Committee and conditioned upon the requirements set forth in this Agreement, will award Taxpayer a California Competes Tax Credit ("CCTC") in the amount of one hundred thousand dollars ($100,000.00) (“Credit”). Specifically, Taxpayer is receiving a CCTC against the “net tax” as defined in RTC section 17039, or the “tax” as defined in RTC section 23036, as applicable, pursuant to RTC section 17059.2 or 23689, as applicable.

  • Accrual Rate Compensatory time for employees will accrue at the rate of one and one-half hours for each one hour of overtime worked.

  • Leave Accrual After the first 30 days of active military service in any one calendar year, employees shall not accrue City-paid vacation, holiday, or sick leave benefits or other forms of paid leave; provided, however, that any public employee on military leave for intermittent training periods shall continue to accrue the same vacation, sick, and holiday leave up to a maximum period of 180 cumulative days per calendar year as if the employee had not been on military leave.

  • Maximum Accrual Vacation credit may be accumulated to a maximum that can be earned in four (4) years. Further accumulation will not continue when the maximum is reached. When an employee’s vacation reaches the maximum level, and if the employee has been denied vacation during the twelve (12) months, the employee will be paid for the time denied but no more than eighty (80) hours in a pay period. Annual Rate of Vacation Accumulation Maximum 80 hours 320 hours 120 hours 480 hours 160 hours 640 hours 180 hours 720 hours 200 hours 800 hours 240 hours 960 hours

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