FGTS definition

FGTS means the Employee’s Severance Guarantee Fund of Brazil (Fundo de Garantia por Tempo de Serviço).

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FGTS means Length of Service Guarantee Fund (Fundo de Garantia de Tempo de Serviço).

FGTS has the meaning set forth in Section 6.14.4.

Examples of FGTS in a sentence

• During the effectiveness of this agreement, LESSEE shall be solely liable for paying all municipal, state, and federal taxes, as well as any social charges, FGTS [Guarantee Fund for Length of Service], payroll, and any other charges that may be applicable to the subject matter of the rent, at the time or in the future, as described in Article First.

• The Company reaffirms its commitment that contract inspection activities will only be carried out by its own employees, with a view to placing greater emphasis on labor, social, economic/financial, technical and safety, environment and health aspects, the support of companies contracted exclusively for the administrative activities of verifying the correct payment of social security contributions, FGTS and compliance with labor obligations is allowed.

• FGTS specializes in the production and sales of spirits, together with the development of proprietary spirit production processes and the possession of patented technology for growing raw materials for beverage manufacturing.

• The Executive hereby covenants and agrees that all the amounts he may be entitled to in the event of termination of the Executive’s employment under circumstances entitling the Executive to benefits hereunder, shall be offset by any and all other amounts due to him from the Company for dismissal without cause, including, without limitation, any severance payments or termination indemnities (including FGTS and any applicable prior notice) due in accordance with any applicable statute or statutes.

• Such transfer shall maintain the existing terms of employment on the date of transfer, including, without limitation, positions, duties, salaries, bonus, benefits and severance fund ("FGTS").

More Definitions of FGTS

FGTS means the Brazilian Unemployment Compensation Fund (Fundo de Garantia do Tempo de Serviço).

FGTS means the unemployment fund (Fundo de Garantia por Tempo de Serviço).

FGTS means fixed-guideway transportation systems.

FGTS means Fundo de Garantia do Tempo de Serviço, the fund created by the Borrower’s Law No. 5107/1966 to provide severance payments to workers on account of their time of service, and to finance urban development, being 60% of such financing earmarked for housing programs, according to the Borrower’s Law No. 8036/1990;

FGTS means the employee severance fund, so called, in Portuguese, “Fundo de Garantia do Tempo de Servico,” managed by the Brazilian government-owned federal bank Caixa Economica Federal.

FGTS has the meaning set forth in Section 7.13.3.

FGTS means the Employee’s Severance Guarantee Fund of Brazil (Fundo de Garantia por Tempo de Serviço). “Financial Statements” is defined in Section 4.9. “Funding Valuation Rate” is defined in the Capitalization Table. “Governmental Authority” means any federal, state or local Swedish, Norwegian, Luxembourg, Dutch, U.S. or Brazilian government or political subdivision thereof, or any agency or instrumentality of such government or political subdivision, or any self-regulated organization or other non-governmental regulatory authority or quasi-governmental authority (to the extent that the rules, regulations or orders of such organization or authority have the force of Law), or any arbitrator, court or tribunal of competent jurisdiction, but excluding any banks or financial development organizations. “Grace Period” is defined in Section 6.10. “Identified Tax Claims” means any of the claims against Opco or any of its Subsidiaries related to the pending Tax proceedings listed in Section 4.11 of the Company Disclosure Letter. 9 “Indebtedness” of any Person means, without duplication, (i) the principal, accreted value, accrued and unpaid interest, prepayment and redemption premiums or penalties (if any), unpaid fees or expenses and other monetary obligations in respect of (A) indebtedness of such Person for money borrowed and (B) indebtedness evidenced by notes, debentures, bonds or other similar instruments for the payment of which such Person is responsible or liable; (ii) all obligations of such Person for the reimbursement of any obligor on any letter of credit, banker’s acceptance or similar credit transaction; (iii) all obligations of such Person under interest rate or currency swap transactions (valued at the termination value thereof); (iv) all obligations of the type referred to in clauses (i) through (iii) of any Persons for the payment of which such Person is responsible or liable, directly or indirectly, as obligor, guarantor, surety or otherwise, including guarantees of such obligations; and (v) all obligations of the type referred to in clauses (i) through (iv) of other Persons secured by (or for which the holder of such obligations has an existing right, contingent or otherwise, to be secured by) any Lien on any property or asset of such Person (whether or not such obligation is assumed by such Person). “Indemnified Party” is defined in Section 8.5. “Indemnifying Party” is defined in Section 8.5. “Initial First Closing” is defined in Section 3.1. “Init...