OFFS Sample Clauses

OFFS. Whenever economic or force conditions are considered by the Company to warrant the off Regular employees, such force adjustments as the Company may deem necessary shall be effective among covered the Collective subject to the conditions:
OFFS. When employees are scheduled to be laid off from the plant, such lay-offs will be in order of reverse seniority.
OFFS. No composing room employee(s) will lose their employment as a result of classified advertisements being produced offsite. Dated this.........................day of .............................. 20.... .................................................................................... For the Company .................................................................................... For the Union LETTER OF AGREEMENT NO. 11 Between SURREY NOW, a division of Glacier Media Inc., and COMMUNICATIONS, ENERGY and PAPERWORKERS UNION OF CANADA, LOCAL 2000
OFFS. 8.02 (a) In all cases of lay-off of five (5) calendar days or more when the Company has decided that circumstances require a reduction of the working force the following shall apply:

Related to OFFS

  • Setoffs Subject to the limitations provided in section 553 of the Bankruptcy Code, the Debtors or the Plan Trust, as applicable, may, but will not be required to, setoff against any Claim and the payments or other distributions to be made pursuant to the Plan in respect of such Claim, claims of any nature whatsoever the Debtors may have against the holder of such Claim, but neither the failure to do so nor the allowance of any Claim under the Plan will constitute a waiver or release by the Debtors of any such claim that the Debtors may have against such holder; provided that Reorganized Congoleum may not offset any obligations under the New Convertible Security against any claim that Reorganized Congoleum may have against the Plan Trust.

  • Counterclaims The existence of any claim or cause of action the Executive may have against the Company will not at any time constitute a defense to the enforcement by the Company of the restrictions or rights provided by this Section 6.

  • Set-Offs After the occurrence and during the continuance of an Event of Default, Borrower hereby irrevocably authorizes and directs Lender from time to time to charge Borrower’s accounts and deposits with Lender (or its Affiliates), and to pay over to Lender an amount equal to any amounts from time to time due and payable to Lender hereunder, under the Note or under any other Loan Document. Borrower hereby grants to Lender a security interest in and to all such accounts and deposits maintained by the Borrower with Lender (or its Affiliates).

  • Offsets If there shall occur or exist any Event of Default or if the maturity of the Notes or any Letter of Credit is accelerated pursuant to Section 12.1 or 12.2, each Lender shall have the right at any time to set off against, and to appropriate and apply toward the payment of, any and all Indebtedness then owing by any Borrowers to that Lender (including, without limitation, any participation purchased or to be purchased pursuant to Section 12.4), whether or not the same shall then have matured, any and all deposit balances and all other indebtedness then held or owing by that Lender to or for the credit or account of any Borrowers, all without notice to or demand upon the Borrowers or any other person, all such notices and demands being hereby expressly waived by the Borrowers.

  • SETOFFS AND COUNTERCLAIMS Without limiting Guarantor’s own defenses and rights hereunder, Guarantor reserves to itself all rights, setoffs, counterclaims and other defenses to which Enron or any other affiliate of Guarantor is or may be entitled to arising from or out of the Contract or otherwise, except for defenses arising out of the bankruptcy, insolvency, dissolution or liquidation of Enron.

  • Accruals All material accruals for unpaid vacation pay, premiums for unemployment insurance, health premiums, federal or provincial pension plan premiums, accrued wages, salaries and commissions and payments for any plan for any officer, director, employee or consultant of the Corporation have been accurately reflected in the books and records of the Corporation.

  • Allocation of Charges There is not any agreement or understanding between the Servicer and the Borrower (other than as expressly set forth herein or as consented to by the Administrative Agent), providing for the allocation or sharing of obligations to make payments or otherwise in respect of any taxes, fees, assessments or other governmental charges; provided that it is understood and acknowledged that the Borrower will be consolidated with the Servicer for tax purposes.

  • Realized Losses On each Distribution Date, immediately following the distributions to be made on such date pursuant to Section 4.01(b), the Certificate Administrator shall calculate the amount, if any, of the Pooled Realized Loss and VRR Realized Loss for such Distribution Date. Any allocation of Realized Losses to any Class of Pooled Principal Balance Certificates and VRR Realized Losses to the VRR Interest shall be made by reducing the Certificate Balance or VRR Interest Balance, as applicable, thereof by the amount so allocated. On each Distribution Date, immediately following the distributions to be made on such date pursuant to Section 4.01(c), the Certificate Administrator shall calculate the amount, if any, of the 180 Water Non-VRR Realized Loss and 180 Water VRR Realized Loss for such Distribution Date. Any allocation of 180 Water Non-VRR Realized Losses to any Class of Loan-Specific Certificates and 180 Water VRR Realized Losses to the 180W-VRR Interest shall be made by reducing the Certificate Balance thereof by the amount so allocated. The allocation of Pooled Realized Losses and VRR Realized Losses, and 180 Water Non-VRR Realized Losses and 180 Water VRR Realized Losses, shall constitute allocations of losses and other shortfalls experienced by the Trust Fund. The Certificate Balances of each Class of Pooled Principal Balance Certificates will be reduced without distribution on any Distribution Date as a write-off to the extent of any Pooled Realized Losses allocated to such Class of Certificates with respect to such date. Any such write-offs will be applied to the Classes of Pooled Principal Balance Certificates in the following order, in each case until the Certificate Balance of such Class is reduced to zero: first, to the Class H-RR Certificates; second, to the Class G-RR Certificates; third, to the Class F Certificates; fourth, to the Class E Certificates; fifth, to the Class D Certificates; sixth, to the Class C Certificates; seventh, to the Class B Certificates, eighth, to the Class A-M Certificates; and finally, to the Class A-1, Class A-2, Class A-3, Class A-SB, Class A-4 and Class A-5 Certificates, pro rata, based on their respective Certificate Balances. The Certificate Balances of each Class of 180 Water Non-VRR Certificates will be reduced without distribution on any Distribution Date as a write-off to the extent of any 180 Water Non-VRR Realized Losses allocated to such Class of 180 Water Non-VRR Certificates with respect to such date. Any such write-offs will be applied to the Classes of 180 Water Non-VRR Certificates in the following order, in each case until the Certificate Balance of such Class is reduced to zero: first, to the Class 180W-D Certificates, second, to the Class 180W-C Certificates, third, to the Class 180W-B Certificates, and finally, to the Class 180W-A Certificates, in each case until the remaining Certificate Balances of such Classes of Certificates have been reduced to zero. Any Realized Losses so allocated to any Class of Certificates shall be allocated among the respective Certificates of such Class in proportion to the Percentage Interests evidenced thereby. On each Distribution Date, any VRR Realized Loss for such Distribution Date shall be allocated to the VRR Interest; and, in connection therewith, the VRR Interest Balance will be reduced without distribution, as a write-off, to the extent of such VRR Realized Loss. Distributions in reimbursement of Pooled Realized Losses or VRR Realized Losses, as applicable, previously allocated to the respective Classes of the Pooled Principal Balance Certificates and distributions in reimbursement of VRR Realized Losses previously allocated to the Class VRR Upper Tier Regular Interest shall be made in the amounts and manner specified in Section 4.01(b) or Section 4.01(d), as applicable. Additional Trust Fund Expenses and shortfalls in Pooled Aggregate Available Funds due to extraordinary expenses of the Trust Fund (including indemnification expenses), a reduction in the Mortgage Rate on a Mortgage Loan by a bankruptcy court pursuant to a plan of reorganization or pursuant to any of its equitable powers, or otherwise, shall be treated as and allocated in the same manner as Realized Losses and VRR Realized Losses. Reimbursement of previously allocated Pooled Realized Losses and VRR Realized Losses will not constitute distributions of principal for any purpose and will not result in an additional reduction in the Certificate Balance of the Class of Certificates or Class of Class VRR Upper-Tier Regular Interest in respect of which any such reimbursement is made. Distributions in reimbursement of 180 Water Non-VRR Realized Losses or 180 Water VRR Realized Losses, as applicable, previously allocated to the respective Classes of the Loan-Specific Certificates and distributions in reimbursement of 180 Water VRR Realized Losses previously allocated to the 180W-VRR Interest shall be made in the amounts and manner specified in Section 4.01(c) or Section 4.01(c), as applicable. Additional Trust Fund Expenses attributable to the 180 Water Subordinate Companion Loan and shortfalls in 180 Water Available Funds due to extraordinary expenses of the Trust Fund (including indemnification expenses), a reduction in the Mortgage Rate on a Mortgage Loan by a bankruptcy court pursuant to a plan of reorganization or pursuant to any of its equitable powers, or otherwise, shall be treated as and allocated in the same manner as 180 Water Non-VRR Realized Losses and 180 Water VRR Realized Losses. Reimbursement of previously allocated 180 Water Non-VRR Realized Losses and 180 Water VRR Realized Losses will not constitute distributions of principal for any purpose and will not result in an additional reduction in the Certificate Balance of the Class of 180 Water Non-VRR Certificates or 180W-VRR Interest in respect of which any such reimbursement is made. If and to the extent any Nonrecoverable Advances (plus interest thereon) that were reimbursed from principal collections on the Mortgage Loans and previously resulted in a reduction of the Aggregate Principal Distribution Amount are subsequently recovered on the related Mortgage Loan, then (on the Distribution Date related to the Collection Period during which the recovery occurred): (i) the Non-VRR Percentage of the amount of such recovery will be added to the Certificate Balance of the Classes of Principal Balance Certificates that previously were allocated Realized Losses, in the same sequential order as distributions pursuant to Section 4.01(b), in each case up to the lesser of (A) the unallocated portion of the Non-VRR Percentage of the amount of such recovery and (B) the amount of the unreimbursed Realized Losses previously allocated to the subject Class of Certificates, and the Interest Shortfall with respect to each affected Class of Non-VRR Certificates for the next Distribution Date will be increased by the aggregate amount of interest that would have accrued through the then current Distribution Date if the restored write-down for the reimbursed Class of Pooled Principal Balance Certificates had never been written down; and (ii) the VRR Percentage of the amount of such recovery will be added to the Certificate Balance of the Class VRR Upper-Tier Regular Interest up to the lesser of (A) the VRR Percentage of the amount of such recovery and (B) the amount of the unreimbursed VRR Realized Losses previously allocated to the Class VRR Upper-Tier Regular Interest, and the interest payable on the Class VRR Upper-Tier Regular Interest will be deemed increased by the VRR Allocation Percentage of any contemporaneous increases in interest payable on the Non-VRR Certificates pursuant to clause (i) of this sentence. To the extent that the Certificate Balance of, and/or any interest payable on, any Class of Non-VRR Certificates or the VRR Interest is so increased, an identical increase shall be deemed made to the Lower-Tier Principal Balance of, and any interest payable on, the Corresponding Lower-Tier Regular Interest. If the Certificate Balance of any Class of Principal Balance Certificates or Class VRR Upper-Tier Regular Interest (or the Lower-Tier Principal Balance of any Lower-Tier Regular Interest) is so increased, the amount of unreimbursed Realized Losses or VRR Realized Losses, as applicable, of such Class of Principal Balance Certificates or VRR Interest (or such Lower-Tier Regular Interest), as the case may be, shall be decreased by such amount, and any interest accrued on the amount of unreimbursed Realized Losses or VRR Realized Losses, as applicable, so decreased shall be deemed not to exist. With respect to any Distribution Date, any Pooled Realized Losses or VRR Realized Losses, as applicable, allocated pursuant to this Agreement with respect to such Distribution Date shall reduce the Lower-Tier Principal Balances of the Lower-Tier Regular Interests as a write-off and shall be allocated among the Lower-Tier Regular Interests in the same priority as the Class of Corresponding Certificates. With respect to any Distribution Date, any 180 Water Non-VRR Realized Losses or 180 Water VRR Realized Losses, as applicable, allocated pursuant to this Agreement with respect to such Distribution Date shall reduce the principal balances of the Trust Subordinate Companion Loan REMIC Regular Interests as a write-off and shall be allocated among the Trust Subordinate Companion Loan REMIC Regular Interests in the same priority as the Class of Corresponding Certificates.

  • Impairments It is the intention of the First Lien Secured Parties of each Series that the holders of First Lien Obligations of such Series (and not the First Lien Secured Parties of any other Series) bear the risk of (i) any determination by a court of competent jurisdiction that (x) any of the First Lien Obligations of such Series are unenforceable under applicable law or are subordinated to any other obligations (other than another Series of First Lien Obligations), (y) any of the First Lien Obligations of such Series do not have an enforceable security interest in any of the Collateral securing any other Series of First Lien Obligations and/or (z) any intervening security interest exists securing any other obligations (other than another Series of First Lien Obligations) on a basis ranking prior to the security interest of such Series of First Lien Obligations but junior to the security interest of any other Series of First Lien Obligations or (ii) the existence of any Collateral for any other Series of First Lien Obligations that is not Shared Collateral (any such condition referred to in the foregoing clauses (i) or (ii) with respect to any Series of First Lien Obligations, an “Impairment” of such Series); provided that the existence of a maximum claim with respect to Mortgaged Properties (as defined in the Credit Agreement) which applies to all First Lien Obligations shall not be deemed to be an Impairment of any Series of First Lien Obligations. In the event of any Impairment with respect to any Series of First Lien Obligations, the results of such Impairment shall be borne solely by the holders of such Series of First Lien Obligations, and the rights of the holders of such Series of First Lien Obligations (including, without limitation, the right to receive distributions in respect of such Series of First Lien Obligations pursuant to Section 2.01) set forth herein shall be modified to the extent necessary so that the effects of such Impairment are borne solely by the holders of the Series of such First Lien Obligations subject to such Impairment. Additionally, in the event the First Lien Obligations of any Series are modified pursuant to applicable law (including, without limitation, pursuant to Section 1129 of the Bankruptcy Code), any reference to such First Lien Obligations or the First Lien Documents governing such First Lien Obligations shall refer to such obligations or such documents as so modified.

  • Credits An employee shall earn sick leave credits at the rate of nine decimal three seven five (9.375) hours for each calendar month for which such employee receives pay for at least seventy-five (75) hours.