Start Rate Sample Clauses

The Start Rate clause defines the initial interest rate or payment rate that applies at the beginning of a loan or financial agreement. Typically, this rate is set for a specific introductory period, after which it may adjust to a different rate based on predetermined terms or market indices. By clearly establishing the initial cost of borrowing, the clause provides transparency for borrowers and helps lenders manage expectations regarding future payment changes.
Start Rate. Except as set out in Article 7.3 (a) below, the starting rate for new employees, except “A” or “B” tradesmen, will be eighty (80%) percent of the rate of the job or jobs that they perform. Automatic increases of five (5%) percent of the rate of the job or jobs that they perform will be granted on the completion of six (6), twelve (12) and eighteen (18) months of seniority. Upon completion of twenty-four
View SourceView Similar (5)
Start Rate. The parties agree that wage rates for any new production classification employee joining the Company following the date of ratification (September 25, 2002), will be paid according to the following schedule: 1st year of employment 85% of the wage shown on the schedule 2nd year of employment 92% of the wage shown on the schedule 3rd year of employment 100% of the wage shown on the schedule The parties agree to review in the plant an appropriate wage rate for any assembly, sequencing or welding work that results from new work coming into the plant. Training/Trial Period: With reference to asterisks (*) in this Appendix “A”, see Article 12.03. 1. a) Skilled Trades for the purpose of this Appendix will be as listed in Exhibit "A";
View SourceView Similar (2)
Start Rate. All new employees shall be paid a start rate equal to the greater of: (a) $10.50 per hour (b) $3.00 per hour less than the job classification into which they have been hired. Employees will progress to the wage rate of their job classification over a two-year period. Increases will be made every six months in an equal amount. Progression to the job classification rate is to be earned at work; absence from work due to layoff, leave of absence, or absences due to sickness or accident totaling more than 240 hours will not count as time worked for purposes of wage progression.
View SourceView Similar (2)
Start Rate. ‌ If the successful applicant for a new position is not currently employed within the bargaining unit, the incumbent shall be paid at "Start Rate" only for the probationary period. The incumbent shall receive "Job Rate" upon successful completion of the probationary period. Notwithstanding the above, the Employer has the discretion to waive the provision to pay the Start Rate, on a case by case basis, where the employee being hired is deemed, in the opinion of the Employer, to be qualified. In the event that there is an existing employee(s) in the same classification who is receiving the Start Rate at the time that the Start Rate is waived by the Employer for a new employee in that classification, the Parties agree that the issue concerning the continuation of the Start Rate for the existing employee(s) will be referred to the Joint Labour Management Committee for its consideration.
View SourceView Similar (2)
Start Rate. An original appointment to any classified position shall be made at the starting rate of the range for the Pay Grade, except that those employees previously employed in comparable classes under Appendix D of this Agreement shall have their salary set at their current rate or the starting rate, whichever is greater. Thereafter, advancement within the salary range shall follow the procedures provided below.
View Source
Start Rate. Hours Worked Effective 06/01/19 Effective 06/01/20 Effective 06/01/21 MIN Hours MAX Hours
View Source
Start Rate. A new employee shall be paid at the start rate for the position to which he/she is appointed. A. Effective January 2003, all new hires will be receiving all negotiated step movements on anniversary date. The anniversary date is the date of a provisional appointment, permanent appointment, or temporary appointment which the employee is appointed from a List and filling an encumbered position as defined by NYS Civil Service Law or the Civil Service Rules adopted by Seneca County.
View Source

Related to Start Rate

  • Interest Rate The LHIN may charge the HSP interest on any amount owing by the HSP at the then current interest rate charged by the Province of Ontario on accounts receivable.

  • Rate Holders of Designated Preferred Stock shall be entitled to receive, on each share of Designated Preferred Stock if, as and when declared by the Board of Directors or any duly authorized committee of the Board of Directors, but only out of assets legally available therefor, cumulative cash dividends with respect to each Dividend Period (as defined below) at a rate per annum equal to the Applicable Dividend Rate on (i) the Liquidation Amount per share of Designated Preferred Stock and (ii) the amount of accrued and unpaid dividends for any prior Dividend Period on such share of Designated Preferred Stock, if any. Such dividends shall begin to accrue and be cumulative from the Original Issue Date, shall compound on each subsequent Dividend Payment Date (i.e., no dividends shall accrue on other dividends unless and until the first Dividend Payment Date for such other dividends has passed without such other dividends having been paid on such date) and shall be payable quarterly in arrears on each Dividend Payment Date, commencing with the first such Dividend Payment Date to occur at least 20 calendar days after the Original Issue Date. In the event that any Dividend Payment Date would otherwise fall on a day that is not a Business Day, the dividend payment due on that date will be postponed to the next day that is a Business Day and no additional dividends will accrue as a result of that postponement. The period from and including any Dividend Payment Date to, but excluding, the next Dividend Payment Date is a “Dividend Period”, provided that the initial Dividend Period shall be the period from and including the Original Issue Date to, but excluding, the next Dividend Payment Date. Dividends that are payable on Designated Preferred Stock in respect of any Dividend Period shall be computed on the basis of a 360-day year consisting of twelve 30-day months. The amount of dividends payable on Designated Preferred Stock on any date prior to the end of a Dividend Period, and for the initial Dividend Period, shall be computed on the basis of a 360-day year consisting of twelve 30-day months, and actual days elapsed over a 30-day month. Dividends that are payable on Designated Preferred Stock on any Dividend Payment Date will be payable to holders of record of Designated Preferred Stock as they appear on the stock register of the Issuer on the applicable record date, which shall be the 15th calendar day immediately preceding such Dividend Payment Date or such other record date fixed by the Board of Directors or any duly authorized committee of the Board of Directors that is not more than 60 nor less than 10 days prior to such Dividend Payment Date (each, a “Dividend Record Date”). Any such day that is a Dividend Record Date shall be a Dividend Record Date whether or not such day is a Business Day. Holders of Designated Preferred Stock shall not be entitled to any dividends, whether payable in cash, securities or other property, other than dividends (if any) declared and payable on Designated Preferred Stock as specified in this Section 3 (subject to the other provisions of the Certificate of Designations).

  • Contract Rate Subject to Sections 2.2 and 3.9, interest payable on the outstanding principal amount of this Note (the “Principal Amount”) shall accrue at a rate per annum equal to the “prime rate” published in The Wall Street Journal from time to time (the “Prime Rate”), plus two percent (2%) (the “Contract Rate”). The Contract Rate shall be increased or decreased as the case may be for each increase or decrease in the Prime Rate in an amount equal to such increase or decrease in the Prime Rate; each change to be effective as of the day of the change in the Prime Rate. The Contract Rate shall not at any time be less than eight percent (8%). Interest shall be (i) calculated on the basis of a 360 day year, and (ii) payable monthly, in arrears, commencing on March 1, 2008, on the first business day of each consecutive calendar month thereafter through and including the Maturity Date, and on the Maturity Date, whether by acceleration or otherwise.

  • Wage Rate The hourly rates for full-time junior and adult apprentices as set out in this agreement shall apply to school based apprentices except that the school based apprentice for pay purposes will be paid a further 25% of hours to the actual hours worked for off the job training.

  • Accrual Rate Compensatory time for employees will accrue at the rate of one and one-half hours for each one hour of overtime worked.