Rate Differential Clause Samples
A Rate Differential clause establishes the method for determining the difference between two interest rates or pricing benchmarks within a contract. Typically, this clause applies in financial agreements such as loans or swaps, where the parties agree to pay or receive the difference between a fixed rate and a floating rate, or between two floating rates. Its core practical function is to ensure that the financial impact of rate fluctuations is clearly allocated between the parties, thereby managing risk and providing predictability in payment obligations.
Rate Differential. For the term of this Agreement, the University is willing to maintain pay rates for non-probationary Sergeants at a level that is 12% above that paid at Rate C in effect on July 1st for Patrol Officers. For purpose of clarifying the application of this practice, pay adjustments provided to P&A’s will be applied before any further adjustment is made to maintain the 12% differential above Patrol Rate “C”. Should the application of such P&A pay adjustment to a bargaining unit member result in a pay rate that is more than 12% above Patrol Rate “C”, no further adjustment will be made to the member’s pay rate in that contract year.
Rate Differential. For the term of this Agreement, non-probationary Sergeants will be paid a minimum of 12% above the highest Patrol Officer rate, excluding shift premium or any special assignment premium or other premium rates in effect on July 1st. For purpose of clarifying the application of this practice, pay adjustments provided to P&A’s will be applied before any further adjustment is made to maintain the 12% differential above the highest Patrol Rate as noted above. Should the application of such P&A pay adjustment to a bargaining unit member result in a pay rate that is more than 12% above the highest Patrol Rate, no further adjustment will be made to the member’s pay rate in that contract year.
Rate Differential. The Parties acknowledge that Bazaar's Energy Service Agreement provides that Bazaar will pay a different rate for Energy Services than the other Parties will pay therefor under their respective Energy Service Agreements. The Parties agree that, to the extent that Bazaar pays higher rates for Energy Services than the other Parties, the portion of the Consumption Charges (as defined in Bazaar's Energy Service Agreement) paid by Bazaar each year attributable to the rate differential between the rates paid by Bazaar for Energy Services and the rates paid by the other Parties for Energy Services (the "Rate Differential Amount") will be credited towards Aladdin's Contract Capacity Charges (as defined in Aladdin's Energy Service Agreement) payable under Aladdin's Energy Service Agreement for the following year. Notwithstanding the foregoing, the following provisions shall apply with respect to all Consumption Charges paid by Bazaar during the term of its Energy Service Agreement (as it may be extended):
(a) In the event that the Rate Differential Amount for any calendar year is less than Bazaar's "Contract Maintenance Costs" (defined as Bazaar's share (which shall be determined based upon the respective demands of the Parties, but shall not exceed $110,000 per calendar year) of the maintenance cost of the Plant for such year, based solely upon costs under actual maintenance contracts for the Plant, including bid-out, full coverage maintenance and in-house maintenance contracts, and not including any other Operational Charges as defined in Exhibit C to the Aladdin Energy Service Agreement) or any repair or replacements of any portion of the Plant (other than those specifically attributable to the affirmative actions or, when obligated to act, inaction, of Bazaar)), then Bazaar's monthly Consumption Charges for the subsequent calendar year shall be recalculated and adjusted upward, each by an amount equal to 1/12 of the lesser of the amount by which the Rate Differential Amount is less than Bazaar's Contract Maintenance Costs or $110,000, provided,such upward adjustment shall not exceed $110,000.00 in the aggregate for such year, and Aladdin's Consumption Charges for such year, payable under the Alladin Energy Service Agreement, will be adjusted downward in an amount equal to the upward adjustments of Bazaar's Consumption Charges. Such adjustment shall take into consideration and be based upon the final Market Rate for Chilled Water Services, as provided in Exhibit...
Rate Differential. A. The salary differential between the normal rate of salary of a Patrol officer and the rate of salary for a Patrol officer permanently assigned to the Detective Division shall be as follows: These amounts shall be added to the base pay of any Patrol officer assigned to the Detective Division.
B. Whenever a Detective is designated as the "Duty Detective" and is on call for that period of time assigned by his Division Commander, he shall receive four (4) hour's pay at one and one-half (1½) of the hourly rate of pay as additional compensation for keeping himself on this standby status.