Effect of Reassignment Sample Clauses

Effect of Reassignment. The County recognizes that a vehicle assignment which provides free commutation to an employee, while not the primary purpose of such assignment, nonetheless is a secondary benefit conferred those employees. Accepting that premise the parties agree that if as a result of economies, realignment of duties, or reevaluation of priorities the County withdraws the assignment of a vehicle from a particular employee, that employee shall be entitled to replacement compensation as described hereafter. Since the only permissible use of a County vehicle is for a public purpose or commutation said compensation shall be calculated on a mileage reimbursement formula as set forth in Paragraph l of this section multiplied by the shortest road distance from the employee’s residence to his assigned work station and return on a five day a week basis. Said compensation shall be paid to such effected employee for a period of one year.
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Effect of Reassignment. Recertification on Skill Pays When a “skill” or additional pay referenced in this MOU is the result of assignment to specified duties or hours, or of maintenance of a registration, certificate, or other credential, the loss of the skill or additional pay due to the end of the assignment or failure to maintain the required registration, certificate, or credential shall not constitute a demotion, pursuant to Section 2.04.680 of the Municipal Code.
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Effect of Reassignment. To reassign Receivables, we may charge first against your Reserve Account, then to your Operating Account or other account with the Bank, an amount equal to the unpaid balance of the reassigned Receivables, including accrued and unpaid finance charges on the date of reassignment. The reassignment shall be effective automatically upon the chargeback to you. In the event the reserve or other account is insufficient to satisfy the balance of the reassigned Receivable, you agree that we may immediately fund and make advances pursuant to your Line of Credit with us as necessary to pay the deficiency amount due to us. Notwithstanding any provision to the contrary, you do not agree to pay and we do not intend to contract for, reserve, charge or collect any rate of interest which is higher than the maximum rate of interest we could charge under applicable law for the extension of credit that is agreed to in this Agreement. If any notice of interest accrual is sent and is in error, you and we mutually agree to correct it, and if we actually collect more interest than allowed by law and this Agreement, we agree to refund the excess portion. Any interest in excess of that maximum amount shall be credited to the principal amount of your Obligations relating to this Agreement, or, it the principal amount of the debt has been paid, refunded to your Operating Account.
Sample 1
Effect of Reassignment. Prior to reassigning any receivable, the Bank may charge against the Business reserve (which reserve includes funds from other receivables not the subject of the reassignment) or other account with the Bank, an amount equal to the unpaid balance of the receivables proposed to be reassigned, including accrued and unpaid financial service charges to the date of such reassignment. If the reserves are inadequate to fully pay the Bank all amounts owed with respect to the receivables proposed to be reassigned, the Business shall be deemed to be in default under Section 3.1
Sample 1
Effect of Reassignment. The Enrolled Affiliate acknowledges that reassignments made in accordance with this Section will not be reflected in the Volume Licensing Service Center (VLSC). It will be the responsibility of the Government Partner to ensure accurate accounting for the reassignment and invoicing adjustments.
Sample 1
Effect of Reassignment. In the event that the Executive's employment is terminated due to Reassignment (as defined in Section 5(c)(iv) hereof), the Executive will be entitled to commence payment of his Supplemental Benefit at any time he elects provided he has completed six (6) months of such Reassignment or earlier upon any termination of employment after such Reassignment. Payment of the Supplemental Benefit shall be made to the Executive in accordance with the benefit payment option he elects pursuant to Section 4(d)(iii) above. The Company shall have the obligation to pay the Executive's Supplemental Benefit if the Executive's employment with the Company terminates due to Reassignment. However, if the Reassignment occurs in connection with or after a Change in Control, the Company shall not have the obligation to pay the Supplemental Benefit. In this event, SUEZ shall be required to assume, in writing, the obligation to pay the Supplemental Benefit to the Executive as a condition of the Reassignment. In no event shall the Executive be entitled to the forbearance of the actuarial reduction provided in Section 4(d)(vi) if his termination is due to Reassignment in connection with or after a Change in Control.
Sample 1
Effect of Reassignment. A vehicle assignment which provides free commutation to an employee between their assigned work station and their residence or domicile is an incidental convenience of work and not a term or benefit of employment. The parties agree that if as a result of economics, realignment of duties, or reevaluation of priorities, the County withdraws the assignment of a vehicle from a particular employee on a minimum of 6 months notice, that employee shall not be entitled replacement compensation. If notice is less than 6 months, compensations shall be paid to the employee and calculated on the mileage reimbursement formula set forth in the County Personnel Policy for mileage reimbursement for use of personal vehicles, section 1:15 (1), multiplied by the shortest road distance on Mapquest from the employee’s nearest residence or domicile, whichever is closer, to his or her assigned nearest work station and return on a five day a week basis (or lesser time if relevant to such employee). Said compensation shall be paid to such effected employee for a period of six (6) months.
Sample 1
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Related to Effect of Reassignment

  • Effect of Replacement In the event of the substitution of an Airframe or of a Replacement Engine pursuant to Section 10 of the Lease, all provisions of this Trust Indenture relating to the Airframe or Engine or Engines being replaced shall be applicable to such Replacement Airframe or Replacement Engine or Engines with the same force and effect as if such Replacement Airframe or Replacement Engine or Engines were the same airframe or engine or engines, as the case may be, as the Airframe or Engine or Engines being replaced but for the Event of Loss with respect to the Airframe or Engine or Engines being replaced.

  • Effect of Supplemental Agreements Upon the execution of any supplemental agreement under this Article, this Agreement shall be modified in accordance therewith, and such supplemental agreement shall form a part of this Agreement for all purposes; and every Holder of Certificates theretofore or thereafter authenticated, executed on behalf of the Holders and delivered hereunder, shall be bound thereby.

  • Release of Liens In the event of any private or public sale of all or any portion of the ABL Collateral (other than in connection with a refinancing as described in Section 5.2(d)) permitted by the ABL Documents or consented to by the requisite ABL Lenders, the Shared Collateral Agents agree, on behalf of the Shared Collateral Secured Parties that such sale will be free and clear of the Liens on such ABL Collateral securing the Shared Collateral Obligations, and the Shared Collateral Agents’ and the Shared Collateral Secured Parties’ Liens with respect to the ABL Collateral so sold, transferred, disposed or released shall terminate and be automatically released without further action concurrently with, and to the same extent as, the release of the ABL Secured Parties’ Liens on such ABL Collateral; provided that in the case of a disposition in connection with an Exercise of Secured Creditor Remedies with respect to ABL Collateral, any Proceeds thereof not applied to repay ABL Obligations shall be subject to the Liens securing the Shared Collateral Obligations and shall be applied pursuant to this Agreement and the Shared Collateral Intercreditor Agreement. In furtherance of, and subject to, the foregoing, the Shared Collateral Agents agree that they will promptly execute any and all Lien releases or other documents reasonably requested by the ABL Agent in connection therewith. Each Shared Collateral Agent hereby appoints the ABL Agent and any officer or duly authorized person of the ABL Agent, with full power of substitution, as its true and lawful attorney-in-fact with full irrevocable power of attorney in the place and stead of such Shared Collateral Agent and in the name of such Shared Collateral Agent or in the ABL Agent’s own name, from time to time, in the ABL Agent’s sole discretion, for the purposes of carrying out the terms of this paragraph, to take any and all appropriate action and to execute and deliver any and all documents and instruments as may be necessary or desirable to accomplish the purposes of this paragraph, including any financing statements, endorsements, assignments, releases or other documents or instruments of transfer (which appointment, being coupled with an interest, is irrevocable).

  • Effect of Sale Upon the occurrence of an Event of Default, to the extent permitted by law, Borrower covenants that it will not at any time insist upon or plead, or in any manner whatsoever claim or take any benefit or advantage of, any stay or extension law now or at any time hereafter in force, nor claim, take nor insist upon any benefit or advantage of or from any law now or hereafter in force providing for the valuation or appraisement of the Collateral or any part thereof prior to any sale or sales thereof to be made pursuant to any provision herein contained, or to the decree, judgment or order of any court of competent jurisdiction; nor, after such sale or sales, claim or exercise any right under any statute now or hereafter made or enacted by any state or otherwise to redeem the property so sold or any part thereof, and, to the full extent legally permitted, except as to rights expressly provided herein, hereby expressly waives for itself and on behalf of each and every Person, except decree or judgment creditors of Borrower, acquiring any interest in or title to the Collateral or any part thereof subsequent to the date of this Agreement, all benefit and advantage of any such law or laws, and covenants that it will not invoke or utilize any such law or laws or otherwise hinder, delay or impede the execution of any power herein granted and delegated to Lender, but will suffer and permit the execution of every such power as though no such power, law or laws had been made or enacted. Any sale, whether under any power of sale hereby given or by virtue of judicial proceedings, shall operate to divest all right, title, interest, claim and demand whatsoever, either at law or in equity, of Borrower in and to the Property sold, and shall be a perpetual bar, both at law and in equity, against Borrower, its successors and assigns, and against any and all Persons claiming the Property sold or any part thereof under, by or through Borrower, its successors or assigns.

  • Enforcement of Due-on-Sale Clauses; Assumption and Modification Agreements; Certain Assignments (a) When any Mortgaged Property is conveyed by the Mortgagor, the Master Servicer or Subservicer, to the extent it has knowledge of such conveyance, shall enforce any due-on-sale clause contained in any Mortgage Note or Mortgage, to the extent permitted under applicable law and governmental regulations, but only to the extent that such enforcement will not adversely affect or jeopardize coverage under any Required Insurance Policy. Notwithstanding the foregoing:

  • Effect of Agreement Nothing herein contained shall be deemed to require to the Trust to take any action contrary to its Declaration of Trust or its By-Laws or any applicable law, regulation or order to which it is subject or by which it is bound, or to relieve or deprive the Trustees of the Trust of their responsibility for and control of the conduct of the business and affairs of the Trust.

  • Condition of Collateral Secured Party has no obligation to repair, clean-up or otherwise prepare the Collateral for sale.

  • Consent to Collateral Assignment Subject to the provisions of this Section 9.05, Seller may (but is not obligated to) assign this Agreement as collateral to a Lender for any financing or refinancing of the Generating Facility, including a Sale-Leaseback Transaction or Equity Investment and, in connection therewith, Buyer shall in good faith work with Seller and Lender to agree upon a consent to a collateral assignment of this Agreement or to a Sale-Leaseback Transaction or Equity Investment, as applicable (“Collateral Assignment Agreement”). The Collateral Assignment Agreement shall be in form and substance reasonably agreed to by Xxxxx, Seller and Lender, and shall include, among others, the following provisions (together with such other commercially reasonable provisions required by any Lender that are reasonably acceptable to Buyer):

  • Revocation and Effect of Consents and Waivers A consent to an amendment or a waiver by a Holder of a Security shall bind the Holder and every subsequent Holder of that Security or portion of the Security that evidences the same debt as the consenting Holder's Security, even if notation of the consent or waiver is not made on the Security. However, any such Holder or subsequent Holder may revoke the consent or waiver as to such Holder's Security or portion of the Security if the Trustee receives the notice of revocation before the date the amendment or waiver becomes effective. After an amendment or waiver becomes effective, it shall bind every Securityholder. An amendment or waiver becomes effective upon the execution of such amendment or waiver by the Trustee. The Company may, but shall not be obligated to, fix a record date for the purpose of determining the Securityholders entitled to give their consent or take any other action described above or required or permitted to be taken pursuant to this Indenture. If a record date is fixed, then notwithstanding the immediately preceding paragraph, those Persons who were Securityholders at such record date (or their duly designated proxies), and only those Persons, shall be entitled to give such consent or to revoke any consent previously given or to take any such action, whether or not such Persons continue to be Holders after such record date. No such consent shall be valid or effective for more than 120 days after such record date.

  • Retention of Collateral In addition to the rights and remedies hereunder, the Administrative Agent may, in compliance with Sections 9-620 and 9-621 of the UCC or otherwise complying with the requirements of applicable Law of the relevant jurisdiction, accept or retain the Collateral in satisfaction of the Secured Obligations. Unless and until the Administrative Agent shall have provided such notices, however, the Administrative Agent shall not be deemed to have retained any Collateral in satisfaction of any Secured Obligations for any reason.

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