Banked credits definition

Banked credits shall be as defined in Section 4.2 hereof.
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Banked credits means credits for total phosphorus and total nitrogen that are generated and that have been registered prior to the time period during which they are used or traded under this part.
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Banked credits means credits that are generated during a different time period than that in which they are used or traded and that have been duly registered.
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Examples of Banked credits in a sentence

  • Banked credits will count toward achieving a bid discount or preference points (up to 2%) on a City contract.

  • Banked credits will be frozen at six (6) months and reinstated when the employee returns to work (no accumulation while on LTD).

  • Banked credits will be frozen when LTD begins and reinstated when the employee returns to work (no accumulation while on LTD).

  • Credits used in 2000: Balance outstanding as at January * No reduction since used credits (12) were within the year’s entitlement (20) Banked credits as at January 1,2000: ▇▇▇▇ leave credits for 2000: Credits used in 2000: Balance outstanding as at January * A reduction since used credits (32) exceeded the year’s entitlement (20) The total accrued sick leave credits will continue to reduce until credits fall below at which time the employee may accrue up to a maximum of sick leave credits.

  • Banked credits may be used as vacation time at the discretion of the employee with the approval of the Employer.