HOLD-DOWN Clause Samples
A Hold-Down clause establishes a limit or cap on certain financial obligations or liabilities within a contract, often in the context of insurance or construction agreements. In practice, this clause may specify the maximum amount an insurer will pay for a particular type of loss, or the highest sum a contractor can be held responsible for in case of damages. By setting these boundaries, the Hold-Down clause provides predictability and protects parties from excessive or unforeseen financial exposure, ensuring that risk is allocated in a clear and manageable way.
HOLD-DOWN. (a) Hold-Down runs and trippers will be posted weekly, posting on Sunday by 7:00
A. M. and closing the following Wednesday by 7:00 A.M. The Hold-Downs will be posted on a separate form when placed up for bid in the Divisions.
(b) Any foreseen vacancies of regular Operators except illnesses or injuries of one week or more duration will be advertised for Hold-Down choice, to be bid by the Extra Board Operators only.
(c) The Hold-Down bid should be listed in order of choice along with a tripper, if any, by the Extra Board Operator bidding the assignment.
(d) When a regular Operator's assignment is posted for Hold-Down, the entire assignment (run and tripper) must be posted and bid as one assignment.
(e) A regular Operator going on the Extra Board shall be allowed to bid a Hold-Down commencing the effective date he/she would be placed on the Extra Board.
(f) An Extra Board Operator who had bid a Hold-Down may bid another Hold-Down before the completion of the Hold-Down he/she is presently working.
(g) After posting the results of the Hold-Down bids on Wednesday by 11:00 A.M., should there be new assignments open due to the bid closing at 7:00 A.M. on Wednesday, those assignments would be posted immediately for bidding and will close by 7:00 A.M. on the following Friday.
(1) When an Extra Board Operator working a Hold-Down successfully bids a new assignment but who has one (1) or more weeks remaining in the Hold-Down the remaining weeks must be posted for Hold-Down choice.
(2) An Extra Board Operator successfully bidding a Hold-Down but who is scheduled to go on vacation during this period will work the weeks on the Hold-Down that he/she is available and the remaining weeks must be posted for Hold-Down choice.
(h) When a Regular Operator whose assignment is being worked on Hold-Down, successfully bids another assignment while time remains on his/her vacation, the Extra Board Operator working the Hold-Down will work the assignment until a successful bidder bids the assignment and then the Extra Board Operator will revert to the Extra Board.
(i) Operators who successfully bid a Hold-Down cannot be bumped by Senior Operators. Displacement will be allowed only when an Operator whose assignment the Extra Board is working has been bumped. The Extra Board Operator will retain the days off of the Hold-Down until the end of the week and then revert to his/her regular days off effective Sunday. Should the Division be unable to notify the Operator of the bump, he/she will...
HOLD-DOWN. Any run that is going to be open for one (1) week (Sunday – Saturday) or more, in full week increments, will be available for “hold down,” meaning it can be bid on and assigned to a single Extra Board Operator for the duration of the available assignment. No more than two (2) runs may be “held down” at any one time. The following rules shall apply to hold downs:
1. When hold down work becomes available, it will be posted on Monday by 1500 (3 pm) and remain posted until Thursday at 1500 (3 pm). It will be awarded by Thursday at 1645 (4:45 pm) with Friday’s work assignment. Hold downs not bid will be assigned on the daily Extra Board.
2. Hold downs may be bid in person, by phone or by proxy through one of the local Union officers. Bids must be submitted by Thursday at 1500 (3 pm) to be considered. Hold down bids will be awarded by seniority.
3. An Extra Board Operator awarded a hold down bid will, for the duration of the hold down assignment, be considered an “Inactive Extra Board Operator.” Inactive Extra Board Operators may not bid on other hold downs, and will not be eligible for extra work assignments, except by overall seniority, for the duration of the hold down assignment.
4. An Extra Board Operator awarded a hold down bid will be given the RDOs of the hold down.
5. When an operator whose run is being held down returns to work, that operator will reclaim their bid assignment, beginning on the next work day. The hold down operator will return back to the Extra Board for the remainder of the week, with the RDOs of the hold down. For the next week, the hold down operator will return to their regular RDOs.
6. An Extra Board Operator holding down work must call in after 1645 (4:45) on Saturday to check if their hold down is still in effect for the following week.
HOLD-DOWN. A. In the event of a five day or greater vacancy including Holidays, approved PTO days and weekends, the entire vacancy may be filled on a first come first serve basis by the extra board of the craft where the vacancy occurs in seniority order.
B. This provision shall not impede the full displacement rights of any Engineer, Conductor or Ticket Agent exercising seniority as a result of being in displaced status.
C. Extra Engineers, Extra Conductors or Extra Ticket Agents assigned in the application of this Article will be treated as if regularly assigned. Except as previously stated, Extra Engineers, Extra Conductors or Extra Ticket Agents as such, will assume all relief days on the assignment being worked and will not be required to protect the extra board on such days. Engineers, Conductors and Ticket Agents assigned to a hold down may work the relief day(s) of the assignment.
D. Extra employees that wish to start a hold down must do so no later than 5 PM the day prior to the commencement of the assignment.
E. An extra board employee about to start a hold down; for example on a Monday, will not be called for work on Sunday if it appears he or she will not be rested to work the hold down on Monday. If however, the employee is called for work on Sunday and, as a result is not rested to commence the hold down, he or she will be compensated in accordance with ARTICLE 21- Hours of Service. He or she will then commence the hold down on Tuesday.
HOLD-DOWN. 34 35 (a) Hold-Down runs and trippers will be posted weekly, posting on Sunday by 7:00 A.M. 36 and closing the following Wednesday by 7:00 A.M. The Hold-Downs will be posted 37 on a separate form when placed up for bid in the Divisions. 39 (b) Any foreseen vacancies of regular Operators except illnesses or injuries of one 40 week or more duration will be advertised for Hold-Down choice, to be bid by the 41 Extra Board Operators only. 42 44 (c) The Hold-Down bid should be listed in order of choice along with a tripper, if any, by 45 the Extra Board Operator bidding the assignment.