No Accumulation Sample Clauses

No Accumulation. The Employee shall not be entitled to accumulate unused vacation or sick leave or other fringe benefits from year to year without the written consent of the Company. Further, Employee shall not be entitled to receive payments in lieu of any compensation or payment for or in lieu of said fringe benefits prorated to the date of termination of this Agreement.
No Accumulation. Vacations may not be cumulative from one (1) year to another.
No Accumulation. Each transaction or proposed issuance under this Section 10.11 is a separate transaction. The failure of either Lender to exercise in whole or in part any prior offer shall not increase its rights with respect to any future transaction subject hereto and the rights of either Lender under this Section 10.11 with respect to any transaction are reduced pro rata to the extent that such Lender acquires securities of the Company by participating directly in such transaction.
No Accumulation. Vacations with pay shall not be accumulated from year to year. Employees must take their vacations within their vacation year, except as provided in Article 19.5, or management's consent.
No Accumulation. Educational hours not used in a particular year may not be accumulated for use in the following year, except that, if educational hours have been denied in a particular year, then up to sixteen (16) hours may be carried over to the following year.
No Accumulation. Allowable leave under this section will not be accumulated from year to year.