Hive-Off Sample Clauses

Hive-Off. 1.1 Transferor hereby transfers to Transferee, as a whole and with continuity of Transferor, by hive-off for acquisition (Ausgliederung zur Aufnahme) in accordance with Section 123 (3) No. 1 of the Reorganization Act, the Aareal Loan Portfolio comprising the assets and liabilities defined in Section 4 of the Hive-Off Agreement, in consideration of an increase of Transferor's limited partner share in the amount of €500.00 (in words: five hundred euros) by €1,500.00 (in words: one thousand five hundred euros) to €2,000.00 (in words: two thousand euros) (hereinafter the "Hive- Off"). The capital contribution recorded in the Commercial Register (Hafteinlage) shall remain unaffected by the Hive-Off.
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Related to Hive-Off

  • Time Off The company recognises that sufficient time off to attend to personal matters and for recreation are important to the employee’s wellbeing, job satisfaction and overall productivity. Accordingly, time off may be taken with the consent of the Company, which shall not be unreasonably withheld. In considering the approval to have time off, the Parties will have regard to the current works programme and the urgency of the reason for time off. In the event that time off is to be taken, it will be the employee’s obligation to advise the Company in advance or as soon as practicable on the day of absence, recognising that unplanned absences can cause costly disruption to programmed works and are a major source of annoyance for the company, other employees and clients. The object of offering flexible working hours is that in return employees will take very seriously their obligation to turn up when they are expected. In view of the disruption caused by unplanned and or notified absenteeism, repeated failure to observe the protocol for time off would constitute misconduct.

  • Banked Vacation Once every five years an employee may bank one full year's vacation to be taken in conjunction with the next year's vacation. For the purposes of this clause, all vacation in the second year must be taken concurrently.

  • Vacation; Paid Time Off During the Employment Term, the Executive shall be entitled to fifteen (15) paid vacation days per calendar year (prorated for partial years) in accordance with the Company’s vacation policies, as in effect from time to time that is at least as favorable as that provided to other similarly situated executives of the Company. The Executive shall receive other paid time-off in accordance with the Company’s policies for executive officers as such policies may exist from time to time.

  • Compensation for Holidays Falling Within Vacation Schedule If a paid holiday falls on or is observed during an employee's vacation period, he/she shall be allowed an additional vacation day with pay at a time mutually agreed upon by the Employer and employee.

  • Length of Vacation 12.01 Annual vacations with pay shall be granted to employees as follows:

  • Paid Vacation Except as otherwise provided in this Article, paid vacation shall be granted no later than the fiscal year immediately following the fiscal year in which it is earned. Following the completion of six (6) months of service, the employee shall be entitled to use earned paid vacation.

  • Flexible Working Hours The Employer will, where operational requirements and efficiency of the service permit, authorize experiments with flexible working hours if the Employer is satisfied that an adequate number of Employees have requested and wish to participate in such an experiment.

  • Holidays and Vacation Executive shall be eligible to accrue up to four (4) weeks of paid vacation per year and will receive paid Company holidays in accordance with Company policy. Vacation accrues pro rata throughout the year.

  • DIRECT PERSONNEL EXPENSE 4.1. Direct Personnel Expense of employees engaged on the Project by the ARCHITECT/ENGINEER includes ARCHITECT/ENGINEERS, other engineers, designers, job captains, draftsmen, specification writers and typists, in consultation, research and design in producing Drawings, Specifications and other documents pertaining to the Project, and in services during construction at the site.

  • PAID VACATIONS The Employee shall be entitled to annual paid vacations of six (6) weeks in each year of the Term and any extension of the Term at such times and for such periods as may be mutually acceptable to the Company and the Employee, in accordance with the Company’s policies governing vacations for its executive officers generally. Unused vacation in any given year shall not accumulate from year to year and Employee shall not be entitled to any cash payment for, or payment in lieu of, unused vacation time.

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