Current Pay definition

Current Pay means an employee's most recent hourly pay rate.
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Current Pay status means that the individual is eligible for a cash payment for the current month.
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Current Pay means Elias’s base salary rate in effect as of May 22, 2008. Elias’s salary continuation shall be paid on a bi-weekly basis at the same time as Westaff’s regular payroll. The bi-weekly amount is $9,615.39 (gross) less appropriate federal and state tax withholding and statutory deductions and shall begin on the first pay period following the eighth (8th) day after the date of execution by both parties to this Agreement. ▇▇▇▇▇ acknowledges that he has been paid all wages due, including any incentive compensation, as well as his accrued, but unused vacation pay in a single lump sum payment less all appropriate withholdings through May 26, 2008. ▇▇▇▇▇ understands that he shall not be entitled to accrue vacation and sick time during the salary continuation period.
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Examples of Current Pay in a sentence

  • Each such Defaulted Obligation will be treated as a Defaulted Obligation for all purposes until such time as the Aggregate Principal Balance of Current Pay Obligations would not exceed, on a pro forma basis including such Defaulted Obligation, the applicable percentage of the Collateral Principal Amount.

  • Each such Defaulted Loan will be treated as a Defaulted Loan for all purposes until such time as the Aggregate Principal Balance of Current Pay Obligations would not exceed, on a pro forma basis including such Defaulted Loan, the applicable percentage of Total Capitalization.

  • For purposes of this Section 1.3(c), a “type” of Collateral Loan shall correspond to each clause of the definition of “Concentration Limitations” and to each reference to Current Pay Obligations in the respective provisos to the definitions of Current Pay Obligation and Defaulted Loan.

  • Example: Office Assistant on 24th month of WS 10, is promoted to a Special Assistant on WS 14 Current Pay for WS 10, 24th month = $703.50 WS 14, 24th month $767.00 x 10% = $76.70 (Promotional Increase) $703.50 + $76.70 = $780.20 (Proposed rate of pay) The nearest higher step on WS 14 is the 30th month.

  • Current Pay Stubs – In order to prove one’s income, the landlord would like to see the applicant’s last 2 weeks’ pay stubs.

  • In general, (i) the maturity date, payment terms and interest rate applicable to each Current Pay Advance shall be as set forth in Schedule 1 to the Subordinate Master Credit Note (Current Pay) (the “Current Pay Note) from the Borrower to the Lender dated as of the date hereof and evidencing the Loan.

  • Example: Office Assistant on 24th month of WS 10, is promoted to a Special Assistant on WS 14 Current Pay for WS 10, 24th month = $674.00 WS 14, 24th month $735.00 x 10% = $73.50 (Promotional Increase) $674.00 + $73.50 = $747.50 (Proposed rate of pay) The nearest higher step on WS 14 is the 30th month.

  • Each such Current Pay Obligation will be treated as a Defaulted Obligation for all purposes until such time as the Aggregate Principal Balance of Current Pay Obligations would not exceed, on a pro forma basis including such Defaulted Obligation, the applicable percentage of the Collateral Principal Amount.

  • Lender agrees that it shall deliver to Mortgage Lender, not less than five (5) days prior to each Payment Date, a written notice setting forth (i) the amount of the Current Pay Interest Payment that will be due on the next Payment Date, and (ii) an itemized list of any other amounts that will be due on such next Payment Date pursuant to the terms of this Agreement and/or the other Loan Documents.

  • Each such Defaulted Loans will be treated as a Defaulted Loan for all purposes until such time as the aggregate principal balance of Current Pay Obligations would not exceed, on a pro forma basis including such Defaulted Loan, the applicable percentage of Total Capitalization.

Related to Current Pay

  • Weeks pay means the ordinary weekly rate of wage for the employee concerned.

  • Minimum Payments $50 (with respect to all funds in the aggregate.)

  • Current Pay Obligation Any Collateral Obligation that would otherwise be treated as a Defaulted Obligation but as to which no payments are due and payable that are unpaid and with respect to which the Collateral Manager has certified to the Trustee (with a copy to the Collateral Administrator) in writing that it believes, in its reasonable business judgment, that the Obligor of such Collateral Obligation (a) is current on all interest payments, principal payments and other amounts due and payable thereunder and will continue to make scheduled payments of interest thereon and will pay the principal thereof and all other amounts due and payable thereunder by maturity or as otherwise contractually due, (b) if the Obligor is subject to a bankruptcy proceeding, it has been the subject of an order of a bankruptcy court that permits it to make the scheduled payments on such Collateral Obligation and all interest payments, principal payments and other amounts due and payable thereunder have been paid in Cash when due and (c) the Collateral Obligation has a Market Value of at least 80% of its par value.

  • Highest Average Compensation means the average Compensation for the three (3) consecutive years of Service with the Employer that produces the highest average. A Year of Service with the Employer is the twelve (12) consecutive month period identical to the Plan Year.

  • Premium pay Per the statute, recipients have broad latitude to designate critical infrastructure sectors and make grants to third-party employers for the purpose of providing premium pay or otherwise respond to essential workers. While the interim final rule generally preserves the flexibility in the statute, it does add a requirement that recipients give written justification in the case that premium pay would increase a worker’s annual pay above a certain threshold. To set this threshold, Treasury analyzed data from the Bureau of Labor Statistics to determine a level that would not require further justification for premium pay to the vast majority of essential workers, while requiring higher scrutiny for provision of premium pay to higher- earners who, even without premium pay, would likely have greater personal financial resources to cope with the effects of the pandemic. Treasury believes the threshold in the interim final rule strikes the appropriate balance between preserving flexibility and helping encourage use of these resources to help those in greatest need. The interim final rule also requires that eligible workers have regular in-person interactions or regular physical handling of items that were also handled by others. This requirement will also help encourage use of financial resources for those who have endured the heightened risk of performing essential work.