downward Sample Clauses
A "downward" clause typically refers to a provision that allows for the reduction of certain terms or benefits under a contract, such as pricing, royalties, or service levels, in response to specific triggers or market changes. For example, if a supplier lowers its prices to other customers, a downward clause may require those lower prices to be extended to the contracting party as well. This clause ensures that the party is protected from paying more than others in similar circumstances, thereby maintaining competitive fairness and preventing disadvantageous terms.
downward. The Cost of Living Allowance will be adjusted up or down in accordance with the foregoing yearly schedules and in each case beginning with the first pay period in the month for which the adjustment is scheduled. In no event will a decline in the Consumer Price Index below the established base of October 1, 2004 (September 2004 Index) provide a basis for a further reduction in the base rate. In the event the Bureau of Statistics shall not issue the appropriate Index before the beginning of one of the pay periods referred to in the above schedules, any adjustments in the allowance required by such Index shall be effective at the beginning of the first pay period after receipt of such Index. No adjustments retroactive or otherwise shall be made in the amount of the cost of living due to any revision which later may be made in the published figures for the Index for any month on the basis of which the allowance shall have been determined. Continuance of the Cost of Living Allowance shall be contingent upon the availability of the Index in its present form using 1986--100.
downward. The COLA shall be computed using the three month average of the 1992 CPI for July 2004 to September 2004 as the base period. The first COLA will compare the CPI for the base period with the 3 month average for the October 2004 to December 2004 period. COLA payments will be quarterly according to the following schedule: Adjustment Dates: Comparison Periods: February 2005 October 2005 to December 2005 February 2006 October 2006 to December 2006 Formula One cent (1¢) adjustments shall be payable for each 0.0700 change in the 1992 CPI. If the 1992 CPI goes down such that the difference between the base period and the comparison periods is a negative value, the adjustment will be zero (0). COLA will apply to all compensated hours. All COLA payments will be immediately folded into the base wage. In the application of the formula set out in the foregoing, the following provisions shall govern in the calculation of COLA: - The CPI measurement used from November 2005 to October 2006 increase by
downward. When an employee's position is reallocated to a lower grade position, the employee shall be permitted to continue at his/her present rate of pay during the period of incumbency but shall not be eligible for a salary increase, except that if his/her present rate of pay is below the maximum of the lower grade, he/she shall be entitled to the increments of the lower grade until the maximum of that grade is reached.
downward. Reclassification When an employee’s position if reclassified to a class having a lower salary range, the employee will be placed either:
a. on the step in the new range that is equivalent to the salary received under the old range; or
b. on the nearest higher step of the new range of the present salary falls between steps of the new range; or
c. the employee’s salary shall remain unchanged (Y-rated) if the salary on the old range is higher than Step “E” of the new range and shall remain unchanged until such time as general salary range adjustments increase the salary for the new class to a level which encompasses the Y-rated salary. The salary of a downward reclassified employee, that is within the range of the demoted class, shall be adjusted to the next higher step in that range at the employee’s next thirteen (13) pay period or twenty-six (26) pay period increase, whichever occurs first, except as provided in Section 7 of the Salary Resolution.
downward. The COLA base period shall be computed using the three-month average of the 2002 CPI for March 2024, April 2024 and May 2024 as the base period. The first COLA will compare the 2002 CPI for the base period with the three-month average for the June 2024, July 2024 and Aug 2024 period. COLA adjustments will be quarterly according to the following schedule: Adjustment Dates Comparison Periods First pay period beginning on or after Average for 3-month period: First day of: October 2024 June 2024, July 2024, August 2024 One cent (1¢) adjustments shall be payable for each 0.1101 change in the 2002 CPI. If the 2002 CPI goes down such that the difference between the base period and the comparison period is a negative value, the adjustment will be zero (0). In the event of a zero (0) adjustment in any quarter, the base for the adjustment calculation for the subsequent quarter will be the CPI of the quarter immediately prior to the zero (0) adjustment. COLA will apply to all compensated hours. The amount of COLA in effect at any given time shall be included in computing overtime, vacation pay, holiday pay, call-in pay, jury duty and bereavement pay. All COLA payments will be folded into the base wage rates effective the first pay period on or after the first day of the contract anniversary in each year of the agreement.
downward. If a position is reclassified downward, the incumbent, if permanent in the position: and whose salary rate exceeds the maximum of the lower salary range, shall retain the salary range in effect prior to the downward reclassification of their position. The employee shall not be entitled to any economic adjustment until such time the maximum salary range for the lower classification level overtakes the maximum salary range retained under this subsection; where her salary rate is equal to or less than the maximum of the tower salary range, she shall be placed in the lower salary range and be entitled to increments and economic adjustments; if Permanent Full-Time or Permanent shall have her name placed on the respective re-employment While an employee on the re-employment list as a result of a downward reclassification, she shall earn increments in the higher salary range retained, If a position is reclassified downward and the employee is on initial probation or subsequent probation, the rate of pay shall be determined on the basis of the principle set out in Salary Adjustment on Demotion. If, within two (2) years subsequent to the downward reclassification, an employee who retained their higher salary range, promotes into an occupation at the same or a lower Classification level than her former occupation, they be entitled to return to their former rate in the higher range subject to any increments that they would have received had she remained in the higher position.
downward. Reclassification For a downward reclassification there is no decrease in base pay. The employee is eligible for the next increase one year from the reclassification date; however, there is no increase to the base pay until the current base pay is less than the maximum for the classification (red circle rule).
downward. The COLA base period shall be computed using the three month average of the 2002 CPI for March 2021, April 2021 and May 2021 as the base period. The first COLA will compare the 2002 CPI for the base period with the three month average for the June 2021, July 2021 and Aug 2021 period. COLA adjustments will be quarterly according to the following schedule: Adjustment Dates Comparison Periods First pay period beginning on or after Average for 3 month period: First day of: October 2021, June 2021, July 2021, August 2021 One cent (1¢) adjustments shall be payable for each 0.1101 change in the 2002 CPI. If the 2002 CPI goes down such that the difference between the base period and the comparison period is a negative value, the adjustment will be zero (0). In the event of a zero (0) adjustment in any quarter, the base for the adjustment calculation for the subsequent quarter will be the CPI of the quarter immediately prior to the zero (0) adjustment. COLA will apply to all compensated hours. The amount of COLA in effect at any given time shall be included in computing overtime, vacation pay, holiday pay, call-in pay, jury duty and bereavement pay. All COLA payments will be folded into the base wage rates effective the first pay period on or after the first day of the contract anniversary in each year of the agreement.