Automatic Increases. (Choose a. or b.):
Automatic Increases. Affirmative Elections of Participants covered by this Question 27 will be increased as follows (select one):
Automatic Increases. The provision of Article 61 (Overhead Operations), Article 62 (Two- Man Operations) and Article 63 (Owner-Operators) shall be auto- matically amended to incorporate whatever amendments or changes may be made in the parallel provisions of the Central States, Over- the-Road Motor Freight Agreement for the contract period starting April 1, 2003, effective as of the dates such amendments or changes become effective under such Central States Agreement.
Automatic Increases. The Revolving Committed Amount shall be automatically increased from time to time in accordance with Section 3.2(a)(iii). Upon any such increase, (i) each applicable Lender’s Original Revolving Commitment shall be increased automatically in accordance with its Original Revolving Commitment Percentage, (ii) Schedule 1.1(a) shall be amended to reflect the revised Revolving Committed Amount and the revised Commitments and, if applicable, Commitment Percentages of the Lenders and (iii) if the Borrower has previously increased the Revolving Committed Amount pursuant to Section 2.10(a) and any Revolving Loans are outstanding at the time of such increase in the Revolving Committed Amount, the Borrower will prepay (provided that any such prepayment shall be subject to Section 4.3) one or more existing Revolving Loans in an amount necessary such that after giving effect to the increase in the Revolving Committed Amount each Lender will hold its Commitment Percentage (as revised due to the increase in the Revolving Committed Amount) of outstanding Revolving Loans. For the avoidance of doubt, no Commitment or Commitment Percentage obtained by a Lender pursuant to Section 2.10(a) shall be subject to increase pursuant to this Section 2.10(b) or Section 3.2(a)(iii).
Automatic Increases. (i) Notwithstanding the foregoing and subject to satisfaction of the condition precedent contained in Section 2.2(d)(ii), the Borrowing Base will automatically increase as follows (A) to $25,000,000.00 when two of the three New Xxxxx as described on Schedule IV attached hereto are completed and produce for at least seven consecutive days at rates materially consistent with the database received by the Administrative Agent from the Borrower in March of 2015 that was dated effective January of 2015 (as determined by the Administrative Agent in its sole discretion) and (B) to $32,500,000 when all three of the New Xxxxx described on Schedule IV are completed and produce for at least seven consecutive days at rates materially consistent with the database received by the Administrative Agent from the Borrower in March of 2015 that was dated effective January of 2015 (as determined by the Administrative Agent in its sole discretion). If the Administrative Agent determines in its sole discretion that such production rates for the New Xxxxx are materially less than the Borrower’s forecast for such New Xxxxx, the Administrative Agent and the Lenders may in their sole discretion reduce the amount of the proposed increases described in clause (A) and (B) in this Section 2.2(d). Notwithstanding anything to the contrary contained herein, the automatic increases described in clause (A) and (B) in this Section 2.2(d) shall, to the extent either such increase has not already occurred, expire at the first Scheduled Redetermination of the Borrowing Base that occurs on or after October 1, 2015.
Automatic Increases. (Select one of (f) or (g))
Automatic Increases. The Revolving Committed Amount shall be automatically increased from time to time in accordance with Section 3.2(a)(iii). The Commitments for any such increase shall be provided pro rata by the Lenders under the applicable Term Loan, the prepayment of which gave rise to such increase pursuant to Section 3.2(a)(iii). Upon any such increase, (i) Schedule 1.1 shall be amended to reflect the revised Revolving Committed Amount and the revised Commitments of the Lenders providing the additional Commitments for such increase and (ii) the Borrower will prepay (provided that any such prepayment shall be subject to Section 4.3) one or more existing Revolving Loans in an amount necessary such that after giving effect to the increase in the Revolving Committed Amount each Lender will hold its Commitment Percentage (as revised due to the increase in the Revolving Committed Amount) of outstanding Revolving Loans.
Automatic Increases. 23.01 Employees hired as general helpers will be reclassified to the classification of work to which they are assigned upon completion of the seventy-five (75) day probationary period.
Automatic Increases. In order to have a standard procedure in affecting automatic increases, all automatic increases which would normally become effective on Monday, Tuesday, or Wednesday of a given week, shall be made effective on Monday of that week. All automatic increases which would normally become effective on Thursday, Friday, Saturday, or Sunday of a given week shall he made effective on the following Monday.
Automatic Increases. The Salary shall be automatically increased for the subsequent periods as follows: to Two Hundred Thousand Dollars when gross sales in any twelve prior consecutive month period reach Three Million Dollars ($3,000,000) and the pre tax net profit of the Company for such period is at least five percent (5%) of such gross sales; and to Two Hundred Fifty Thousand Dollars ($250,000) when gross sales in any twelve prior consecutive month period reaches Seven Million Dollars ($7,000,000) and the pre tax net profit of the Company for such period is at least five percent (5%) of such gross sales. Thereafter, the salary shall be reviewed by the Compensation Committee of the Company annually on the anniversary of the Commencement Date.
