Higher Rate Clause Samples
The "Higher Rate" clause establishes that, in certain circumstances, a higher interest rate or fee will apply to amounts owed under the agreement. Typically, this clause is triggered if a party defaults on payment obligations or if specific conditions outlined in the contract are met, such as late payments or breaches. By specifying when and how a higher rate is imposed, the clause incentivizes timely compliance and compensates the non-breaching party for additional risk or administrative costs, ultimately serving to deter late payments and protect the financial interests of the party owed money.
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Higher Rate. An employee temporarily assigned to a higher rated position shall receive the higher of the two job rates.
Higher Rate. An employee shall be paid the higher rate of pay for all work performed in a higher job classification, and shall be paid the lower rate for all work performed in a lower paid job classification. This shall not apply where the change in job classification may be considered a minor factor, or is unscheduled, infrequent, of short duration, or is due to an emergency.
Higher Rate. Except for periods of training as provided for in Article 14.02, any employee performing work classified at a higher rate of pay shall receive such higher rate while performing such work.
Higher Rate. The Employer may, at its sole discretion, pay an Employee at a rate higher than that detailed in Appendix A. A decision by the Employer to pay an Employee at a higher rate will not entitle any other Employee, whether similarly classified or not, to be paid at a higher rate than detailed in Appendix A. The Employee will be advised in writing that the Employer will pay at a higher rate. The Employer may, at its sole discretion, cease paying an Employee at a higher rate, provided the Employer has given the Employee two weeks notice in writing of its decision to do so.
Higher Rate any employee who is receiving a rate higher than his job rate because of either:
Higher Rate. An employee temporarily transferred to a higher rated position during periods of vacation, illness, or other emergency shall be paid the higher rate for the period of temporary assignment (except where the wage rate covers pay for this duty), and an employee temporarily transferred to a lower rated job for the convenience or advantage of the Employer, shall receive his regular rate.
Higher Rate. Any employee who works in two (2) classifications during a shift and spends sixty-five percent (65%) (five [5] hours or more) of that shift in the higher of the two (2) classifications, shall receive the higher pay scale for the entire shift.
Higher Rate. When an employee is assigned by the Employer to work in a position carrying a higher rate of pay for a period of four (4) or more hours during a scheduled shift, the employee shall receive the higher rate of pay for the work performed at the higher rate.
Higher Rate. An Associate shall be paid the higher rate of pay for all work performed in a higher job classification, and shall be paid the lower rate for all work performed in a lower paid job classification. This shall not apply where the change in job classification may be considered a minor factor, or is unscheduled, infrequent, of short duration or is due to an emergency.
Higher Rate. Employees who are temporarily assigned and perform work for one or more full shifts (i.e. 7, 7.5, 8 or 10 hours) to a job that is paid at a higher rate than the employee’s regular rate will be paid at the higher rate. If an employee is in the position of three (3) pay periods or more, the employee will be paid the higher rate for Annual Vacations, as per Article 21, Defined Holidays as per Article 22, and Health Leave as per Article 25.