Master Equivalency Sample Clauses

The Master Equivalency clause establishes a standard for recognizing qualifications, credentials, or experience as equivalent to a specified benchmark within an agreement. In practice, this clause allows parties to accept alternative certifications, degrees, or work experience as meeting the requirements set out in the contract, even if they are not identical to the originally specified criteria. This ensures flexibility in compliance and helps prevent disputes over technical differences in qualifications, ultimately facilitating smoother collaboration and reducing administrative barriers.
Master Equivalency. Master Degree Equivalency on the salary schedule shall mean completion of 30 graduate semester hours or 45 graduate quarter hours of credit after completion of Bachelor Degree. Effective July 1, 2000, no employee can enter the Master Degree lane on the teachers’ salary schedule without actually holding a Master Degree from an accredited university. Effective July 1, 1994, the Master Degree +18 Graduate Semester Hours lane on the teachers’ salary schedule shall be amended by adding “Equivalency +18.” Effective October 1, 2000, no employee can enter Equivalency +18 Graduate Semester Hours lane on the teachers’ salary schedule without actually holding a Master Degree from an accredited university and earning an additional 18 Graduate Semester Hours since the degree was conferred. Effective July 1, 1994, no new employee can qualify for an equivalency degree lane on the teachers’ salary schedule.
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Related to Master Equivalency

  • METHODS OF CALCULATION 224. Bi-Weekly. An employee whose compensation is fixed on a bi-weekly basis shall be paid the bi-weekly salary for his/her position for work performed during the bi-weekly payroll period. There shall be no compensation for time not worked unless such time off is authorized time off with pay.

  • Discount Percentage The Discount Percentage shall be based upon the monthly average of the net assets of all of the funds on Master Schedule A to Management Contracts (“Group Assets”), as may be updated from time to time, and the monthly average of the net assets of the Fund (computed in the manner set forth in the Trust’s Declaration of Trust or other organizational document) determined as of the close of business on each business day throughout the month. After determination of the average Group Assets tier bound level in Master Schedule B to Management Contracts, as may be updated from time to time, which is hereby incorporated by reference into this Contract, the Discount Percentage shall be determined on a cumulative basis pursuant to the schedule set forth in Master Schedule B to Management Contracts.

  • Determination of Amount Outstanding On each Quarterly Date and, in addition, promptly upon the receipt by the Administrative Agent of a Currency Valuation Notice (as defined below), the Administrative Agent shall determine the aggregate Revolving Multicurrency Credit Exposure. For the purpose of this determination, the outstanding principal amount of any Loan that is denominated in any Foreign Currency shall be deemed to be the Dollar Equivalent of the amount in the Foreign Currency of such Loan, determined as of such Quarterly Date or, in the case of a Currency Valuation Notice received by the Administrative Agent prior to 11:00 a.m., New York City time, on a Business Day, on such Business Day or, in the case of a Currency Valuation Notice otherwise received, on the first Business Day after such Currency Valuation Notice is received. Upon making such determination, the Administrative Agent shall promptly notify the Multicurrency Lenders and the Borrower thereof.

  • Interest Rates and Letter of Credit Fee Rates Payments and Calculations (a) Interest Rates. Except as provided in Section 2.13(c) and Section 2.15(a), all Obligations (except for the undrawn portion of the face amount of Letters of Credit) that have been charged to the Loan Account pursuant to the terms hereof shall bear interest at a per annum rate equal to the lesser of (i) the LIBOR Rate plus the Applicable Margin, or (ii) the maximum rate of interest allowed by applicable laws; provided, that following notice to Borrower in accordance with Section 2.15(a) hereof, all Obligations that have been charged to the Loan Account pursuant to the terms hereof shall bear interest at a per annum rate equal, during the duration of the circumstances described in Section 2.15(a), to the lesser of (A) the Base Rate plus the Applicable Margin as calculated pursuant to Section 2.15(a) or (B) the maximum rate of interest allowable by applicable laws.

  • Definition of Regular Straight Time Rate of Pay The regular straight time rate of pay is that prescribed in wage schedule of the Collective Agreement.