Basis for Clause Samples

The "Basis for" clause establishes the foundational reasons or justifications underlying a particular agreement, decision, or action within a contract. In practice, this clause typically outlines the assumptions, facts, or circumstances that both parties have relied upon when entering into the contract, such as market conditions, regulatory approvals, or the existence of certain assets. By clearly stating these underlying bases, the clause helps ensure that both parties have a mutual understanding of the context and expectations, thereby reducing the risk of disputes arising from misunderstandings or changes in the foundational circumstances.
Basis for. Establishing Job Descriptions and Selection Criteria (a) Job Descriptions Must Reflect Work Performed It is understood and agreed that the primary basis for establishing job descriptions shall be the bona fide operational requirements of the Employer; however, each job description must accurately reflect all of the work to be performed in terms of both major and minor job duties, although minor duties shall not have to be specified except in the event of a Job Value grievance, as defined in Clause 12.05 below, or upon request of an Employee or the Union.
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Basis for processing information
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Basis for. Re: The upon which calculationswith respect to and pensionable shall remain unchanged what it was during the life of the previous Collective (January to
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Basis for determination of annual cap REASONS FOR AND BENEFITS OF ENTERING INTO THE MARKET EXPANSION SERVICES FRAMEWORK AGREEMENT INTERNAL CONTROL POLICY FOR CONTINUING CONNECTED TRANSACTIONS
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Related to Basis for

  • Accrual Sick leave shall accrue at the rate of four and six tenths (4.6) hours for each completed eighty (80) hour pay period. The amount of sick leave time any one (1) employee may accrue is unlimited. Sick leave shall be charged in minimum units of one (1) hour. Employees absent on sick leave shall be paid at the employee’s regular rate.

  • Basis Occurrence basis.

  • Basis of Accrual If the basis of accrual of interest or fees expressed in this Agreement with respect to the currency of any state that becomes a participating state shall be inconsistent with any convention or practice in the London Interbank Market or, as the case may be, the Paris Interbank Market for the basis of accrual of interest or fees in respect of the euro, such convention or practice shall replace such expressed basis effective as of and from the date on which such state becomes a participating member state; provided, that if any Loan in the currency of such state is outstanding immediately prior to such date, such replacement shall take effect, with respect to such Loan, at the end of the then current Interest Period.

  • Balance Computation Method For all accounts, dividends are calculated by the daily balance method, which applies a daily periodic rate to the balance in the account each day. Dividends will begin to accrue on the business day you deposit non-cash items (e.g., checks) to your account if deposited before the close of business. If you close any of your dividend earning accounts before dividends are credited you may not receive the accrued dividends up to the date of account closure.

  • Calculating Interest Assume that you have a single interest rate of 15.99%, your ADB is $2,250 and there are 30 days in the billing period.