Conversion Rule Sample Clauses
A Conversion Rule clause establishes the terms and procedures by which one type of security or instrument can be converted into another, such as converting preferred shares into common shares. Typically, this clause outlines the conversion ratio, any conditions or timeframes for conversion, and the process for notifying the relevant parties. Its core practical function is to provide a clear and predictable mechanism for changing the form of an investment, which can facilitate future financing, align interests between parties, or provide flexibility for investors.
Conversion Rule. A. Trainmen on through freight and mixed trains, required to load and unload wayfreight or Railway's material or switch enroute, i.e., station switching (moving from one siding to another or spotting a car (or cars) not handled in their own train) or switching (as hereinafter defined) in setting out and or picking up a car (or cars) handled in their own train, will (unless through freight basis including time allowable at overtime rate for the trip amounts to more) be paid at wayfreight rates for time so occupied, time so paid not to be included in computing overtime but may be used to the extent necessary to make up the minimum day and pay not to be in excess of wayfreight rates for the full trip. In calculating time engaged in performing the work referred to under this rule, it is understood that the time will be continuous from the time such work is first started until it is finally completed.
B. Through freight or mixed train crews making more than five stops to take on or set out a car (or cars) or who make more than ten switches enroute, or a combination of seven movements of such service, will be paid wayfreight rates for the trip.
i. At points where a STOP as above is counted, any SWITCHES made should not be counted, and vice versa.
ii. Switching enroute does not include switching at terminals before departure or after arrival of train.
iii. Stops and switches to set out bad order cars shall not be counted in applying this article.
Conversion Rule. 15.1 Employees on trains specified in paragraph 2.1, except work, wreck and construction, required to load or unload wayfreight or Company's material or switch en route, i.e., station switching (moving from one siding to another or spotting a car (or cars) not handled in their own train) or switching (as hereinafter defined) in setting out and/or picking up a car (or cars) handled in their own train, will (unless through freight basis including overtime for the tour of duty amounts to more) be paid at wayfreight rates for time so occupied, time so paid not to be included in computing overtime but may be used to the extent necessary to make up the minimum day, and pay not to be in excess of wayfreight rates for the full tour of duty. In calculating time engaged in performing the work referred to under this paragraph, it is understood that the time will be continuous from the time such work is first started until it is finally completed.
15.2 Employees on trains specified in paragraph 2.1, except work, wreck and construction, making stops for the purpose of (a) taking on or setting off a car (or cars), (b) loading and unloading wayfreight, and/or (c) moving a car (or cars) in a siding at a point where no car (or cars) are taken on or set off, at more than five stations or that make more than ten switches en route, or a combination of such service, will be paid wayfreight rates for the tour of duty. The minimum in the combination is seven, e.g.:
15.3 Stops and switches to set out bad order cars shall not be counted in applying this Article.
15.4 Switching en route does not include switching at terminals before departure or after arrival of train.
15.5 A stop shall be counted for picking up a car (or group of cars together) standing first-out on siding or setting out a car (or group of cars together) from any part of train. If more than one car (or group of cars together) are set out and/or picked up at a station a switch may be counted for each car (or group of cars together) set out or picked up, except that a switch shall not be counted in respect to the picking up of a car (or group of cars together) standing first-out on siding, or the setting out of a car (or group of cars together) when no additional move is required.
15.6 At points where a stop as above is counted any switches made should not be counted, and vice versa, but at a station where a switch is performed, a stop may optionally be counted in figuring the combination of seven.
Conversion Rule. Section I Trainmen in through or irregular freight service required to pick up and/or set off a car or cars at three or more points during any one trip or tour of duty shall be paid local freight rates for the entire service performed. Stops made ( 1) at first point to pick up cars other than cabin or caboose and at last points to set off cars other than cabin or caboose;
Conversion Rule. 1. Engineers In through or irregular freight service required to pick up and/or set off a car or cars at three or more points, or, when the time actually consumed in picking up and/or setting off exceeds one hour and thirty minutes in the aggregate for the entire trip during any one trip or tour of duty will be paid local freight rates for the entire service performed. The following shall not be considered picking up and/or setting off cars for the purpose of this rule:
A. Picking up or setting off cabins or caboose cars at Initial or final terminal.
B. Picking up cars at first point or setting off cars at last point at which cars are picked up or set off respectively, within the initial or final terminal.
C. At foreign line junction points not exceeding four in number, when interchange cars only are picked up and/or set off.
D. Setting out defective cars at any point.
E. Doubling hills.
F. Setting out or picking up cars (but not setting out and picking up at the same point) for the purpose of adjusting the tonnage of the train to established engine ratings. Except as provided in Item F above, picking up and/or setting off cars at one point between the time train is stopped and the entire train Is coupled up and ready to start shall constitute picking up and/or setting off cars at one "point" for the purpose of this rule.
2. Engineers required to do station switching will be paid local or way freight rates. Switching necessary in picking up cars will not be considered "station switching". Switching for the purpose of placing at loading or unloading places cars other than cars loaded with livestock or highly perishable freight, will be considered "station switching". If, in order to set out car or cars clear of main line, it is necessary to move from "spot" a car or cars that are set for loading or unloading, such car or cars will be replaced on "spot" and so doing will not be considered "station switching".
3. In passenger or through or irregular freight service where commercial LCL freight and/or company material is loaded or unloaded by the engine or train crew during the entire trip engineers will be paid local freight rates.
4. There shall be no conversion except as specifically covered by this rule.
Conversion Rule. (a) Engineers and firemen, and helpers on other than steam power, in through or irregular freight service required to pick up and/or set off a car or cars at three or more points, or, when the time actually consumed in picking up and/or setting off exceeds one hour and thirty minutes in the aggregate for the entire trip during any one trip or tour of duty shall be paid local freight rates for the entire service performed. The following shall not be considered picking up and/or setting off cars for the purpose of this rule:
Conversion Rule. Way Freight Handling ........................ Doubleheading ...................................
Conversion Rule. 17.1 Locomotive engineers on through freight and mixed trains, required to load or unload wayfreight or Company's material, or switch en route, i.e., station switching (moving from one siding to another or spotting a car or cars not handled in their own train) or switching (as hereinafter defined) in setting out and/or picking up a car (or cars) handled in their own train, will (unless through freight basis including time allowable at overtime rate for the trip amounts to more) be paid at wayfreight rates for time so occupied, time so paid not to be included in computing overtime but may be used to the extent necessary to make up the minimum day, and pay not to be in excess of wayfreight rates for the full trip. In calculating time engaged in performing the work referred to under this article, it is understood that the time will be continuous from time such work is first started until it is finally completed.
17.2 Locomotive engineers, on through freight and mixed trains, making stops for the purpose of (a) taking on or setting off a car (or cars), (b) loading or unloading wayfreight, and/or