Equivalent Rate definition

Equivalent Rate means, for any Interest Period with respect to BA Equivalent Rate Loans comprising part of the same Borrowing, the rate of interest per annum (rounded upward, if necessary, to the next 1/100th of 1%) equal to the market bid rate determined by the Canadian Agent for banker's acceptances (with a tenor comparable to such Interest Period and in an amount comparable to the BA Equivalent Rate Loan of Scotiabank for such Interest Period) accepted by Scotiabank on the first day of such Interest Period.

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Equivalent Rate means the prime rate of First Union Bank on the date of issuance of any such junior preferred shares plus 3.5%.

Equivalent Rate means the employee's monthly salary multiplied by twelve (12) and divided by two thousand and eighty (2,080). An employee will have deducted from his salary an amount equal to any scheduled hours not worked during the pay period multiplied by his equivalent hourly rate. No deduction will be made for hours which have been as paid leave. Saturday premium pay of fifty cents per hour will be paid for each straight-time hour worked on Saturday. Sunday premium pay of one dollar ($1 per hour shall be paid for each hour worked on Sunday. Each employee with at least one (1) year seniority will be paid a service premium of thirty cents for each straight-time hour worked. This service premium should not form part of the employee's straight-time hourly rate and will only be paid for straight-time hours worked and will not be included for the purposes of establishing benefit entitlement, the calculation of holiday, vacation or any other pay, or for any other purposes whatsoever. If an employee has completed the scheduled hours of work for his shift and is called in for overtime, he shall receive pay for the full time so worked except that he shall receive pay for a minimum of four (4) hours. No employee shall be required to work more than hours, which includes two (2) hours overtime, without being allowed a reasonable lunch period on Company time. For each additional three (3) hours overtime such employee works, he shall be provided with an additional lunch period. For such overtime which is unscheduled (if an employee is not provided with at least twelve (12) hours notice prior to the start of the overtime assignment) the Company shall supply to the employee a meal or at the Company's or the employee's request, a meal allowance of shall be paid in lieu of a meal. A shift differential shall be paid at the following rates: Afternoon Shift Night Shift Graveyard Shift For employees working extended shift schedules (e.g. and hour shifts) the shift premium is: Night Shift Shift premiums at the foregoing rates will be paid an employee working an overtime graveyard, night or afternoon shift. That is, shift premium will not be increased for overtime hours. Shift premiums will not be paid to an employee who works overtime hours preceding or following a day shift. Any shift starting between am and noon shall be classed as day shift. Any shift starting between noon and will be classed as afternoon shift. Any shift starting between and will be classed as night shift. Any shift sta...

Examples of Equivalent Rate in a sentence

• The following defined terms are used in these additional conditions: AER Annual Equivalent Rate, which is a notional rate illustrating what the interest rate would be if interest was paid and compounded once a year.

• Officer’s bookkeeping account shall, however, continue to be maintained and administered (including monthly credits of interest at the Interest Equivalent Rate in effect for the Plan Year) in accordance with the terms of the Plan.

• Once established, the Interest Equivalent Rate shall remain the same for the entire Plan Year.

• If such notice is given by Canadian Borrower, Canadian Borrower shall make such prepayment and the payment amount specified in such notice shall be due and payable on the date specified therein, together with, in the case of BA Equivalent Rate Loans, accrued interest to each such date on the amount prepaid and any amounts required pursuant to Section 4.4.

• At the end of each calendar month, the balance in the Officer’s deferred compensation account as of the immediately preceding month will be multiplied by the Interest Equivalent Rate divided by 12.

• To the extent that a sublicense royalty received by ProNAi exceeds [***] of the sublicensee’s Net Sales for the Licensed Products, the Royalty Equivalent Rate shall increase by [***] for every full percentage point in excess of such [***] level.

• During such period, Officer’s bookkeeping account shall continue to be credited with interest at the Interest Equivalent Rate on a monthly basis pursuant to the procedures described in Section 1 above.

• Such notice of prepayment shall specify the date and amount of such prepayment and whether such prepayment is of Prime Rate Loans, BA Equivalent Rate Loans, or any combination thereof.

• Each such payment shall be accompanied by a report showing the Net Sales of each Licensed Product sold by ProNAi, or an Affiliate or sublicensee of ProNAi, in each country, the applicable Royalty Equivalent Rate for such Licensed Product, and a calculation of the amount of Royalty Equivalent Amounts.

• If Canadian Borrower is required to so prepay any BA Equivalent Rate Loan, then concurrently with such prepayment, Canadian Borrower shall borrow from the affected Lender a Prime Rate Loan.

More Definitions of Equivalent Rate

Equivalent Rate means [***].

Equivalent Rate means the employee's monthly salary multiplied by twelve (12) and divided by two thousand and eighty (2,080).

Equivalent Rate means the rate per annum set forth in Section 2.5(b) on --------------- the Closing Date.

Equivalent Rate has the meaning set forth in Section 4.3.