Credit time definition
Examples of Credit time in a sentence
Credit time will be earned and utilized in comparable times (i.e., one hour of earned credit time equals one hour of credit time to be utilized).
Credit time and debit time will carry over to the next settlement period.
Credit time can only be earned in the performance of official duties and work performed will be evaluated under the employee’s performance standards.
During each settlement period an employee will accumulate 152 hours made up of the following: • Carry over credit or debit time • Time worked within the bandwidth • Approved leave during the bandwidth • Credit time for public holidays.
Credit time earned on a flexitour schedule may be used to reduce the length of the workweek or another workday in accordance with Section 6 (Credit Hours) of this Article.
Tenant’s failure to timely comply with its obligations under this Section 5 shall constitute a material default of Tenant, for which no notice or opportunity to cure shall apply or be required before Landlord is entitled to draw the full amount or any other portion of the Letter of Credit, time being of the essence with respect to Tenant’s obligations under this Section 5.
Credit time may be reduced and debit time may be repaid during flexible hours or, with the prior approval of the supervisor, during core time.
If Tenant fails to timely renew any Letter of Credit, time being of the essence, Landlord shall have the right at any time after the thirtieth(30th) day before such expiration date to draw on such Letter of Credit and to deposit the proceeds of such Letter of Credit as a cash security deposit in any account for the benefit of Landlord or to declare an Event of Default.
Credit time is to be used within Forty-eight (48) hours, with approval of the immediate supervisor.
If Tenant fails to timely renew any Letter of Credit, time being of the essence, Landlord shall have the right at any time after the thirtieth (30th) day before such expiration date to draw on such Letter of Credit and to deposit the proceeds of such Letter of Credit as a cash security deposit in any account for the benefit of Landlord or to declare an Event of Default.