Note B Sample Clauses
Note B. The “part-time equivalent work week” classifi- cation of each part-time employee shall be recalcu- lated by the Company no less often than every six (6) months on April 1 and October 1 of each year, based on the actual average number of hours worked per month during the preceding six (6)-month period. The recalculated “part-time equivalent work week” clas- sification shall be placed in effect if it differs by more than plus or minus three (+/–3) hours from the employee’s current “part-time equivalent work week” classification, or if it would change the employee’s current premium payment percentage for the Medi- cal, Dental, and Vision Plans, as described in the "Memorandum of Understanding Regarding Part- Time Employees," in the 2017 Labor Agreements, paragraph 5., a., b., and c. Any hours worked which are paid at the overtime rate shall not be counted in computing the average number of hours worked.
Note B for 38 purposes of determining whether there is a controlled foreign air carrier affiliate. For 39 example, if there is any such substitution of Entity X for Virgin Atlantic Limited, Section
40 1 B. 58. would read: “‘VS’ or ‘Virgin Atlantic’ means Virgin Atlantic Airways Limited 41 and any controlled foreign air carrier affiliate of Entity X.” 42 Note three: In the event the Company divests its equity interest in Virgin Atlantic 43 Limited or any entity that controls, directly or indirectly, Virgin Atlantic Airways
Note B as if it were Virgin Atlantic Limited in the foregoing 8 provisions.
Note B. If the Company 40 thereafter again owns its equity interest in Virgin Atlantic Airways Limited indirectly 41 through another entity (Entity Y), then Entity Y will be added to Section 1 B. 58. and
Note B for 27 purposes of determining whether there is a controlled foreign air carrier affiliate. For 28 example, if there is any such substitution of Entity X for Virgin Atlantic Limited, Section
Note B. If the Company 5 thereafter again owns its equity interest in Virgin Atlantic Airways Limited indirectly 6 through another entity (Entity Y), then Entity Y will be added to Section 1 B. 58. and
Note B. “Affiliation Date” for any controlled 10 foreign air carrier affiliate of Virgin Atlantic Airways Limited or Virgin Atlantic 11 Limited means the date the entity became a controlled foreign air carrier affiliate of 12 Virgin Atlantic Airways Limited or Virgin Atlantic Limited.
Note B. Two Million and NO/100 Dollars ($2,000,000) shall be payable by Buyer’s execution and delivery at Closing of Buyer’s Promissory Note in the face amount thereof (“Note B”). Note B shall bear interest at a floating rate of interest equal to the lesser of (i) the Prime Rate as set forth in The Money Rates Section of The Wall Street Journal, as it may be adjusted from time to time, or (ii) the maximum lawful rate of interest permitted to be charged thereon under the laws of the State of Texas (the “Maximum Rate”). Note B shall provide for twelve (12) quarterly payments of principal each in the amount of One Hundred Sixty Six Thousand Six Hundred Sixty Six and 66/100 Dollars ($166,666.66), together with interest on the unpaid principal balance calculated as provided in Note B. The first payment of interest and principal shall be due and payable on the first day of the first month after the Closing Date and the last such payment due thirty-six months after the Closing Date. Note B shall be in form and substance substantially the same as Exhibit 3.3 hereto.
Note B. The obligation of Borrower to repay the Term Loan shall be evidenced by Note-B executed by Borrower, payable to the order of Lender, in the principal amount of $7,500,000.00.
Note B. 1 Notes......................................1