Attrited definition
Examples of Attrited in a sentence
Seller's obligation to convey Qualified Substitute Accounts shall be satisfied initially from any Excess Pool Accounts which, on the date such conveyance is required hereunder, are not Attrited Accounts.
SAFE and Seller agree that the amount of damages suffered by SAFE arising from an RMR Account becoming an Attrited Account and any failure to Seller to provide Qualified Substitute Accounts is difficult to ascertain, and SAFE and Seller acknowledge that the obligations of Seller set forth in this paragraph related thereto are reasonable estimates of the damages to be suffered, and constitute liquidated damages and not a penalty.
Annualized Attrition" shall mean, with respect to the Qualified Closing Accounts purchased by SAFE on the Closing Date, a fraction whose numerator is the Attrited Account RMR and whose denominator (adjusted as provided below) is Six Hundred Thousand Dollars ($600,000), calculated upon the static pool basis.
For each of the years of this contract, Human Resources will publish the extra teach schedule by March 31 All ILCs taught beyond forty-five (45) ILCs will be paid at the extra teach ILC rate, with the exceptions described in Article 28.E.4.a. (Non- Filled Attrited Positions Workload Impacts).
Attrited positions shall not be outsourced during the term or extended term of this agreement.
The "Attrited Account RMR" is the amount of RMR which would have been paid (but for an RMR Account becoming an Attrited Account) during a succeeding one year period under all Qualified Closing Accounts which have become Attrited Accounts during the Attrition Measurement Period.
Such Excess Pool Accounts (so long as they have not become Attrited Accounts) shall be used to satisfy, to the extent available, Seller's obligations under the Attrition Guarantee pursuant to Section 3.
With respect to Qualified Closing Accounts (other than Litigation Related Accounts so long as they remain Litigation Related Accounts), Seller's Attrition Guarantee shall apply to the extent that Annualized Attrition is greater than 8% and equal to or less than 13% and shall include payment for the lost RMR for those Attrited Accounts to which the Attrition Guaranty applies, as provided in section 3.1.1 above.
During the Attrition Measurement Period, Seller agrees to guarantee, within the parameters described in Section 3.1.2 below (the "Attrition Guarantee"), that the Qualified Closing Accounts (and any Substitute Account) purchased by SAFE from Seller shall not become Attrited Accounts.