Repayment of Days Granted Clause Samples

The 'Repayment of Days Granted' clause defines the obligation for an individual or party to return or compensate for days off or leave that were previously granted but are no longer justified. In practice, this clause typically applies when an employee has taken more leave than they have accrued, such as using vacation days in advance, and then leaves the company or their entitlement changes. The clause ensures that any excess days taken are either deducted from final pay or otherwise compensated, thereby preventing unjust enrichment and ensuring fairness in the administration of leave policies.
Repayment of Days Granted. 1. After accumulating a minimum of seven (7) medical/illness leave days, the recipient of Sick Bank days who continues in the employment of the School Corporation shall repay the Sick Bank the borrowed days. At the beginning of each school year a teacher who owes days to the bank shall be credited with seven (7) medical/illness days and the balance of days available shall be credited to the bank until the bank is repaid. 2. This repayment shall be at the following rate: a. One day for each day taken while the teacher is at 9 years or less experience. b. One day repaid for every 1.5 days taken while the teacher is at 10 – 19 years experience. c. One day for every two days taken from the bank when the teacher has 20 years or more experience. This repayment shall be calculated from the experience the teacher has at the time of repayment, not at the time the days were borrowed from the sick leave bank. INPRS (formerly TRF) will be used to determine the number of years of experience a teacher has accumulated. 3. A recipient who leaves the School Corporation and still owes days to the Sick Bank must transfer accumulated medical/illness leave and personal business leave days, if available, to the Sick Bank as repayment toward the days granted.
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Related to Repayment of Days Granted

  • Compensation for Breakage or Non-Commencement of Interest Periods Borrower shall compensate each Lender, as promptly as practicable after written request by such Lender (which request shall set forth the basis for requesting such amounts and shall be conclusive absent manifest error), for all reasonable losses, expenses and liabilities (including any interest paid or calculated to be due and payable by such Lender to lenders of funds borrowed by it to make or carry its Eurodollar Rate Loans and any loss, expense or liability sustained by such Lender in connection with the liquidation or deployment of such funds but excluding loss of anticipated profits) which such Lender may sustain: (i) if for any reason (other than a default by such Lender) a borrowing of any Eurodollar Rate Loan does not occur on a date specified therefor in a Funding Notice or a telephonic request for borrowing, or a conversion to or continuation of any Eurodollar Rate Loan does not occur on a date specified therefor in a Conversion/Continuation Notice or a telephonic request for conversion or continuation; (ii) if any prepayment or other principal payment of, or any conversion of, any of its Eurodollar Rate Loans occurs on a date prior to the last day of an Interest Period applicable to that Loan; or (iii) if any prepayment of any of its Eurodollar Rate Loans is not made on any date specified in a notice of prepayment given by Borrower.

  • Performance on Business Days In the event the date on which performance or payment of any obligation of a party required hereunder is other than a Business Day, the time for payment or performance shall automatically be extended to the first Business Day following such date.

  • Repayment on Termination Date The Borrower hereby agrees to repay the outstanding principal amount of (i) all Revolving Credit Loans in full on the Revolving Credit Maturity Date, and (ii) all Swingline Loans in accordance with Section 2.2(b) (but, in any event, no later than the Revolving Credit Maturity Date), together, in each case, with all accrued but unpaid interest thereon.

  • NO EXPECTATION OF CONTINUED EMPLOYMENT BEYOND TERM OF CONTRACT Neither this contract nor any Board Policy, rule or evaluation procedure shall confer upon the Employee continued employment beyond the term provided in this contract.

  • Late payment on Zero Coupon Notes If the amount payable in respect of any Zero Coupon Note upon redemption of such Zero Coupon Note pursuant to paragraph (a), (b), (c) or (d) above or upon its becoming due and repayable as provided in Condition 11 is improperly withheld or refused, the amount due and repayable in respect of such Zero Coupon Note shall be the amount calculated as provided in paragraph (e)(iii) above as though the references therein to the date fixed for the redemption or the date upon which such Zero Coupon Note becomes due and payable were replaced by references to the date which is the earlier of: (i) the date on which all amounts due in respect of such Zero Coupon Note have been paid; and (ii) five days after the date on which the full amount of the moneys payable in respect of such Zero Coupon Notes has been received by the Principal Paying Agent or the Registrar and notice to that effect has been given to the Noteholders in accordance with Condition 15.