Junior Rates definition

Junior Rates wage calculated to nearest 10 cents and any broken part of ten cents in the result not exceeding five cents to be disregarded. Junior Age Percentage Rate of Appropriate Adult Classification 17 years and under 60% 18 years of age 70% 19 years of age 85% 20 years of age 90% PLEASE NOTE Junior employees on reaching the age of eighteen years, may be employed in the bar or other places or serving customers where liquor is sold. However, where a junior is employed the adult award rate for the work being performed must be paid. Apprentices: Apprentices will be paid the following percentage of the Tradesman Cook Classification Apprenticeship Year Percentage of Tradesman Cook Classification 1st Year 55% 2nd Year 65% 3rd Year 80% 4th Year 95%
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Junior Rates wage calculated to nearest 10 cents and any broken part of ten cents in the result not exceeding five cents to be disregarded. Junior Age Percentage Rate of Appropriate Adult Classification 17 years and under 60% 18 years of age 70% 19 years of age 85% 20 years of age 90% PLEASE NOTE Junior employees on reaching the age of eighteen years, may be employed in the bar or other places or serving customers where liquor is sold. However, where a junior is employed the adult award rate for the work being performed must be paid. Apprentices: Apprentices will be paid the following percentage of the Tradesman Cook Classification Apprenticeship Year Percentage of Tradesman Cook Classification 1st Year 55% 2nd Year 65% 3rd Year 80% 4th Year 95% 11. Superannuation Superannuation contributions will be paid as required under the Superannuation Guarantee (Administration) Act 1992 as varied from time to time to a complying Fund.
Sample 1
Junior Rates wage calculated to nearest 10 cents and any broken part of ten cents in the result not exceeding five cents to be disregarded. Juniors Age Percentage Rate of Appropriate Adult Classification 17 years and under 60% 18 years of age 70% 19 years of age 85% 20 years of age 100% Please note: Junior employees on reaching the age of eighteen years, may be employed in the bar or other places where liquor is sold. However, where a junior is employed the adult award rate for the work being performed must be paid. Apprentice Rates – Cooking Apprenticeship Year Percentage Rate of Level 4 (Cook Grade 3 tradesperson) 1st 55% 2nd 65% 3rd 80%
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Examples of Junior Rates in a sentence

  • Junior Rates Table In accordance with clause 15.4, an employee under the age of 21 will receive payment at the appropriate one of the percentages of the rate prescribed for the classification.

  • This Agreement allows Junior Rates of Pay, a junior Employee is defined as being less than 20 years of age.

  • The Junior Rates will be applied for all other SWs. The parties agree that there are currently some situations where a School has stated in writing that it will pay the Senior Rate to SWs who would ordinarily be paid at the Junior Rate.

  • The rates of pay contained in Table 1 – Annual Rates, Table 2 – Junior Rates, and Table 3 (only those rates identified as # increasing per annum, as per the salary increase), will be increased in the circumstances as set out in this clause.

  • Junior Rates - Junior employees shall be paid the percentages of the total rate prescribed in the said Table 1 for the classification of General Labourer.

  • Junior Rates Junior rates of pay will apply to the minimum pay point of the Department’s APS 1/2 classification and the minimum pay point of the Department’s Training Broadband (unless otherwise stated), as follows.

  • Junior Rates % of adult rate Under 18 years of age 75% 18 and under 19 years of age 85% 19+ 100% Junior rates of pay are expressed as a percentage of the appropriate minimum adult rate in either Levels 1 or 2, with the first pay point in Levels 1 or 2 reflecting the wage rate upon which the Junior percentages above are calculated.

  • Leave is reserved for the parties to this Award to make application to the Industrial Relations Commission of New South Wales to amend this Award with provisions that facilitate: A seven (7) day spread of hours for all employees; Junior Rates of pay for persons less than 21 years of age.

  • Junior Rates Percentage of adult rates Under 16 years 50% at 16 years 55% at 17 years 60% at 18 years 65% at 19 years 75% Pay Increases will be based on the greater amount out of those specified above and increases in the Regional NSW Consumer Price Index.

  • Calculation of Junior Rates - Junior rates shall be calculated in multiples of 10 cents with any result of 5 cents or more being taken up to the next highest 10 cent multiple.

Related to Junior Rates

  • Subordinate Net Funds Cap With respect to any Distribution Date, an amount equal to the weighted average of the Pool 1 Net Funds Cap and the Pool 2 Net Funds Cap, weighted on the basis of the Pool Subordinate Amount for each Mortgage Pool; provided, however, that on any Distribution Date after which the aggregate Class Principal Amount of the Senior Certificates relating to any Mortgage Pool has been reduced to zero, such weighting shall be on the basis of the Pool Balance of each Mortgage Pool.

  • Senior Reduction Amount With respect to any Payment Date is either:

  • Senior Secured Net Leverage Ratio means, as of any date of determination, the ratio of (a) Senior Secured Indebtedness on such date to (b) Consolidated Adjusted EBITDA for the period of four consecutive fiscal quarters of the Borrower ended on or prior to such time (taken as one accounting period) in which financial statements for each quarter or fiscal year in such period have been or were required to be delivered pursuant to Section 5.01(a) or (b) without giving effect to any grace period applicable thereto.

  • Senior Secured Leverage Ratio means, with respect to any Test Period, the ratio of (a) Consolidated Senior Secured Debt as of the last day of such Test Period to (b) Consolidated EBITDA of the Borrower for such Test Period.

  • Junior Representative means, with respect to any series of Permitted Junior Debt, the trustee, administrative agent, collateral agent, security agent or similar agent under the indenture or agreement pursuant to which such Permitted Junior Debt is issued, incurred or otherwise obtained and each of their successors in such capacities.

  • Loan Group Cap The Loan Group I Cap or the Loan Group II Cap, as applicable.

  • Senior Target Amount With respect to each Distribution Date, an amount equal to the lesser of (a) the product of (i) 77.30% and (ii) the Aggregate Loan Balance for such Distribution Date determined as of the last day of the related Collection Period and (b) the amount, if any, by which (i) the Aggregate Loan Balance for such Distribution Date determined as of the last day of the Collection Period exceeds (ii) 0.50% of the Cut-off Date Balance.

  • Weighted Average Interest Rates means, with respect to any Outstanding Notes of a class or tranche of the MBNAseries, or of all of the Outstanding Notes of the MBNAseries, on any date, the weighted average (weighted based on the Outstanding Dollar Principal Amount of the related Notes on such date) of the following rates of interest:

  • Senior Class Debt Parties has the meaning assigned to such term in Section 8.09.

  • Senior Class Debt has the meaning assigned to such term in Section 8.09.

  • Loan Group 3 The Group 3 Mortgage Loans.

  • First Lien Net Leverage Ratio means, with respect to any Test Period, the ratio of (i) Consolidated Total Indebtedness secured on a first lien basis, net of Unrestricted Cash, as of the last day of such Test Period, to (ii) Consolidated EBITDA for such Test Period.

  • Term SOFR Rate means, with respect to any Term Benchmark Borrowing and for any tenor comparable to the applicable Interest Period, the Term SOFR Reference Rate at approximately 5:00 a.m., Chicago time, two U.S. Government Securities Business Days prior to the commencement of such tenor comparable to the applicable Interest Period, as such rate is published by the CME Term SOFR Administrator.

  • Loan Group 4 The Group 4 Mortgage Loans.

  • Senior Specified Enhancement Percentage As of any date of determination, 38.00%.

  • Weighted Average Net Mortgage Rate The weighted average of the Net Mortgage Rates of the Mortgage Loans, weighted on the basis of the Stated Principal Balances thereof as of the close of business on the first day of the calendar month preceding the month in which such Distribution Date occurs.

  • Mid-Market Swap Rate means for any Reset Period the mean of the bid and offered rates for the fixed leg payable with a frequency equivalent to the Original Mid-Swap Rate Basis (calculated on the day count basis customary for fixed rate payments in the Specified Currency as determined by the Calculation Agent) of a fixed-for-floating interest rate swap transaction in the Specified Currency which transaction (i) has a term equal to the relevant Reset Period and commencing on the relevant Reset Date, (ii) is in an amount that is representative for a single transaction in the relevant market at the relevant time with an acknowledged dealer of good credit in the swap market and (iii) has a floating leg based on the Mid-Swap Floating Leg Benchmark Rate for the Mid-Swap Maturity (as specified in the applicable Final Terms) (calculated on the day count basis customary for floating rate payments in the Specified Currency as determined by the Calculation Agent);

  • Junior Capital collectively, any Indebtedness of any Parent or the Borrower that (a) is not secured by any asset of the Borrower or any Restricted Subsidiary, (b) is expressly subordinated to the prior payment in full of the Loans on terms consistent with those for senior subordinated high yield debt securities issued by U.S. companies sponsored by either of the Sponsors (as determined in good faith by the Borrower, which determination shall be conclusive), (c) has a final maturity date that is not earlier than, and provides for no scheduled payments of principal prior to, the date that is 91 days after the Initial Term Loan Maturity Date (other than through conversion or exchange of any such Indebtedness for Capital Stock (other than Disqualified Stock) of the Borrower, Capital Stock of any Parent or any other Junior Capital), (d) has no mandatory redemption or prepayment obligations other than (x) obligations that are subject to the prior payment in full in cash of the Loans or (y) pursuant to an escrow or similar arrangement with respect to the proceeds of such Junior Capital and (e) does not require the payment of cash interest until the date that is 91 days following the Initial Term Loan Maturity Date.

  • Junior means any person in receipt of less than the adult wage.

  • Mid-Swap Floating Leg Benchmark Rate means EURIBOR (if the Specified Currency is euro), LIBOR for the Specified Currency (if the Specified Currency is U.S. dollars, Pounds Sterling or Swiss Francs), CIBOR (if the Specified Currency is Danish Kroner), NIBOR (if the Specified Currency is Norwegian Kroner), STIBOR (if the Specified Currency is Swedish Kronor) or (in the case of any other Specified Currency) the benchmark rate most closely connected with such Specified Currency and selected by the Calculation Agent in its discretion after consultation with the Issuer;

  • Net Funds Cap The Pool 1 Net Funds Cap, the Pool 2 Net Funds Cap or the Subordinate Net Funds Cap, as the context requires.

  • Loan Group 5 The Group 5 Mortgage Loans.

  • Loan Group I Cap With respect to the Group I Mortgage Loans as of any Distribution Date, the product of (i) the weighted average of the Adjusted Net Mortgage Rates then in effect on the beginning of the related Due Period on the Group I Mortgage Loans and (ii) a fraction, the numerator of which is 30 and the denominator of which is the actual number of days in the Interest Accrual Period related to such Distribution Date.

  • Consolidated Senior Secured Net Leverage Ratio means, for any Measurement Period, the ratio of (a) Consolidated Senior Secured Net Debt for Borrowed Money to (b) Consolidated EBITDA, in each case for such period.

  • Subordinate Class Percentage With respect to any Distribution Date and any Class of Subordinate Certificates, a fraction, expressed as a percentage, the numerator of which is the aggregate Certificate Principal Balance of such Class of Subordinate Certificates immediately prior to such date and the denominator of which is the aggregate Stated Principal Balance of all of the Mortgage Loans (or related REO Properties) (other than the related Discount Fraction of each Discount Mortgage Loan) immediately prior to such Distribution Date.

  • Permitted Junior Secured Refinancing Debt means any secured Indebtedness issued or incurred by the Borrower or a Subsidiary Guarantor in the form of one or more series of Junior Lien secured notes or loans; provided that (i) such Indebtedness is secured by the Collateral on a Junior Lien basis (subject to Liens permitted under Section 9.1) with the Obligations and is not secured by any property or assets of the Borrower or any Subsidiary other than the Collateral, (ii) such Indebtedness constitutes Credit Agreement Refinancing Indebtedness, (iii) such Indebtedness does not mature or have scheduled amortization or scheduled payments of principal and is not subject to mandatory redemption, repurchase, prepayment or sinking fund obligation (other than customary offers to repurchase or mandatory prepayments upon a change of control, asset sale or other Disposition or casualty event or incurrence of indebtedness that is not permitted thereunder and customary acceleration rights after an event of default) prior to the Latest Maturity Date, determined at the time such Indebtedness is incurred, (iv) the security agreements relating to such Indebtedness are substantially the same as the Collateral Documents (with such differences as are reasonably satisfactory to the Administrative Agent), (v) such Indebtedness is not guaranteed by any Subsidiaries other than the Subsidiary Guarantors and (vi) a Senior Representative acting on behalf of the holders of such Indebtedness shall have become party to or otherwise subject to the provisions of the Junior Lien Intercreditor Agreement; provided that if such Indebtedness is the initial Permitted Junior Secured Refinancing Debt incurred by the Borrower or a Subsidiary Guarantor, then Holdings, the Borrower, the Subsidiary Guarantors, the Administrative Agent and the Senior Representative for such Indebtedness shall have executed and delivered a Junior Lien Intercreditor Agreement. Permitted Junior Secured Refinancing Debt will include any Registered Equivalent Notes issued in exchange therefor.