SENIORITY. As of the Closing Date, no Indebtedness or other claim against the Company is senior to the Note in right of payment, whether with respect to interest or upon liquidation or dissolution, or otherwise, other than indebtedness secured by purchase money security interests (which is senior only as to underlying assets covered thereby) and capital lease obligations (which is senior only as to the property covered thereby).
SENIORITY. Except for Permitted Liens and as otherwise provided for herein, until the Notes are fully satisfied or converted, the Company shall not grant nor allow any security interest to be taken in the assets of the Company or any Subsidiary; nor issue any debt, equity or other instrument which would give the holder thereof directly or indirectly, a right in any assets of the Company or any Subsidiary, superior to any right of the holder of a Note in or to such assets.
SENIORITY. 6:1 Seniority is defined as the length of continuous service with the Company. Continuity of service shall be deemed to be broken when (1) an employee is discharged for cause; (2) except as otherwise modified by Section 10:3, an employee voluntarily terminates employment or voluntarily takes a layoff; (3) an employee has been laid off for more than six (6) consecutive months; or (4) an employee has violated the provisions of Article VII, Section 7:6.
SENIORITY. 10.01 (a) i) Newly hired nurses shall be considered to be on probation for a period of seventy (70) tours worked from date of last hire (525 hours of work for nurses whose regular hours of work are other than the standard work day). If retained after the probationary period, the full-time nurse shall be credited with seniority from date of last hire and the part-time nurse shall be credited with seniority for the seventy (70) tours (525 hours) worked. With the written consent of the Hospital, the probationary nurse and the Bargaining Unit President of the Local Union or designate, such probationary period may be extended. Where the Hospital requests an extension of the probationary period, it will provide notice to the Union at least seven (7) calendar days prior to the expected date of expiration of the initial probationary period. It is understood and agreed that any extension to the probationary period will not exceed an additional sixty (60) tours (450 hours) worked and, where requested, the Hospital will advise the nurse and the Union of the basis of such extension with recommendations for the nurse’s professional development.
SENIORITY. Seniority as an Occasional Teacher shall commence on the most recent date of hire to the Occasional Teacher Bargaining Unit and shall continue uninterrupted thereafter.
SENIORITY. Clause 8.01 Seniority is the relative ranking of regular employees according to their length of employment with the Employer in the bargaining unit, and shall date in all cases from the time the employee last entered the employment of the Employer . Should two (2) or more employees have an identical date of seniority, their seniority dates will remain unchanged, however, their relative ranking on the seniority list shall be determined through a random draw, with those employees involved along with a representative of the Union present. Clause 8.02 Seniority lists shall be posted in January and July of each year, with one (1) copy being forwarded to the Union. Protests with regard to seniority shall be submitted as a grievance in accordance with the grievance procedure contained herein. This list will show all employees within the Bargaining Unit in order of seniority stating the employee's number, name, job classification, and date of latest entry in the employ of the Employer. Clause 8.03 Seniority is the principle of granting preference with regard to lay-off, demotion due to lay-off, and recall after lay-off. It is understood and agreed that in the event of a reduction (lay-off) of Employer employees, employees with the most seniority will be entitled to displace employees with less seniority in other positions, in lieu of being laid off, provided they are qualified to do the work. It is understood and agreed that in the event of a reduction (lay-off) of Employer employees, that any regular employee affected directly or through bumping by a lay-off shall be able to bump a regular, probationary, temporary or casual employee with less seniority, provided they are qualified to do the work. The right to bump includes the right to bump upwards. Employees shall be recalled on a seniority basis provided they are qualified to do the work available.
SENIORITY. No indebtedness of the Company is senior to this Debenture in right of payment, whether with respect to interest, damages or upon liquidation or dissolution or otherwise. And, the Company warrants that it has taken all necessary steps to subordinate its other obligations to the rights of the Holder hereunder.