No Payment Shall Exceed Lawful Rate Notwithstanding any other term of this Agreement, the Borrower shall not be obliged to pay any interest or other amounts under or in connection with this Agreement or otherwise in respect of the Obligations in excess of the amount or rate permitted under or consistent with any applicable law, rule or regulation.
Payment at Highest Lawful Rate If the Borrower is not obliged to make a payment that it would otherwise be required to make, as a result of Section 5.6(a), the Borrower shall make such payment to the maximum extent permitted by or consistent with applicable laws, rules and regulations.
Experience Credit a. For the purpose of this article, a teacher teaching on call shall be credited with one (1) day of experience for each full-time equivalent day worked.
Rate of Accrual All full-time employees holding permanent, probationary or provisional status shall accrue personal leave as follows: Years of Service Hours Per Pay Period 2 - 5 8.44 5 - 10 9.38 10 + 11.25 Personal leave accruals for partial months of service shall be on a prorated basis. Employees who work less than full-time shall accrue personal leave on a prorated basis according to the above schedule and hours in pay status. Accrued leave shall be posted on a semimonthly pay period and shall be available for use when posted. In determining years of service for the purpose of computing personal leave, all permanent/probationary/provisional service with the Territory and State of Alaska is included. Employees transferring into the bargaining unit who have accrued annual leave shall have the hours of annual leave transferred to the employee's personal leave account.
Vacation Leave Accrual Rate Schedule Full Years of Service Hours Per Year During the first and second years of current continuous employment One hundred twelve (112) During the third year of current continuous employment One hundred twenty (120) During the fourth year of current continuous employment One hundred twenty-eight (128) During the fifth and sixth years of total employment One hundred thirty-six (136) During the seventh, eighth and ninth years of total employment One hundred forty-four (144) During the tenth, eleventh, twelfth, thirteenth, and fourteenth years of total employment One hundred sixty (160) During the fifteenth, sixteenth, seventeenth, eighteenth and nineteenth years of total employment One hundred seventy-six (176) During the twentieth, twenty-first, twenty- second, twenty-third, and twenty-fourth years of total employment One hundred ninety-two (192) During the twenty-fifth year of total employment and thereafter Two hundred (200)
Annual Leave Loading (1) An annual leave loading shall be included in the final payment of ordinary wages made in December of each year to employees who have become entitled to annual leave in accordance with this Agreement.
Shift Differential Pay Employees in the classifications listed in Appendix C are eligible for differential pay when working during the following hours:
Rate of Compensation In lieu of direct compensation for all overtime, shift work and standby (as defined in Articles 16, 17 and 18 of this Agreement), regular full-time employees shall receive a special compensation of 7% of their basic salary earned for each calendar year. This special compensation shall not be considered part of the employee's basic salary for the purpose of calculating any benefits or other premium entitlements.
Accrual Rate Compensatory time for employees will accrue at the rate of one and one-half hours for each one hour of overtime worked.
Unused Sick Leave Upon retirement from the City service , an employee or the employee’s beneficiary in the case of death shall be paid thirty percent (30%) of the employee's accumulated unused sick leave in cash, with the rate of payment based upon the employee's regular hourly rate of pay at the time the employee retires or dies. In addition, upon retirement or death, thirty percent (30%) of the employee's accumulated unused sick leave, with the rate of payment based upon the employee's regular hourly rate of pay at the time of retirement or death, shall be paid into the employee’s PEHP premium account. Upon a reduction in force, the employee shall be paid twenty-five percent (25%) of the employee’s accumulated unused sick leave in cash, with the rate of payment based upon the employee’s regular rate of pay at the time the employee is subject to a reduction in force. In addition, upon a reduction in force, twenty-five percent (25%) of the employee’s accumulated unused sick leave, with the rate of payment based upon the employee’s regular hourly rate of pay at the time of reduction in force, shall be paid into the employee’s PEHP premium account. Upon resignation, the employee shall be paid thirty-five percent (35%) of the employee’s accumulated sick leave in cash with the rate of payment based upon the employee’s regular pay at the time of separation.