Minimum Monthly Guarantee definition

Minimum Monthly Guarantee or “MMG” shall mean the absolute amount on a monthly basis, computed by dividing MAG for a Concession Year by twelve.
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Minimum Monthly Guarantee. Means the minimum monthly salary to be paid to a Cabin Attendant in accordance with Article MO" Means a calendar month, except that other than leap, be the period from January to March inclusive and in leap year February shall be the period from January to February 29th. inclusive.
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Minimum Monthly Guarantee shall have the meaning set forth in Section 4.1 of this Agreement.
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Examples of Minimum Monthly Guarantee in a sentence

  • Reserve Blockholders will not have their Minimum Monthly Guarantee reduced for the days that they attend Annual Recurrent Training.

  • All flights assigned to Reserve Blockholders under voluntary extension on a non-inviolate day off will be paid over and above the Minimum Monthly Guarantee.

  • EXAMPLE: Flight Time Credits: 60 hours 20 hours on B767 B777 40 hours on other jet aircraft Ratio: 1/3 Minimum Monthly Guarantee Paid: 33-1/3% at B767 B777 rates 66-2/3% at other jet aircraft rates 5.11.03 Flight Attendant/Assistant Xxxxxx - Regular and Blockholders - sixty-five (65) hours at the applicable jet aircraft hourly rate.

  • A Crew Member’s normal monthly pay shall be dispersed in two (2) payments, such disbursements to be made on the last day of each calendar month (to include one-half (1/2) of the Minimum Monthly Guarantee and overtime and per diem, if any, from the previous Bid Month) and on the fifteenth (15th) day of each calendar month (to include one-half (1/2) of the Minimum Monthly Guarantee).

  • Except as otherwise provided for in this Article 3.B., a Crew Member who is available for Work on each Day that he is scheduled for duty during the Bid Month shall be entitled to receive a Minimum Monthly Guarantee of sixty-four (64) hours of pay at his applicable hourly wage rate.

  • If a Crew Member is in initial, transition or upgrade training for an entire Bid Month, he shall be paid the Minimum Monthly Guarantee under Article 3.B., above.

  • A Crew Member who is scheduled as a CTI for the Bid Month and is available for Work on each Day that he is scheduled for duty during that Bid Month shall be entitled to receive a Minimum Monthly Guarantee of seventy-four (74) hours.

  • Hours worked on a GDO will always count as credit in addition to the Minimum Monthly Guarantee, but are not counted in hours worked when calculating overtime hours.

  • Effective the block month following the removal of all aircraft in a fleet type, those pilots qualified on type shall be paid the greater of the following until qualified on another equipment type: The daily average flying pay during the previous three (3) block months where flying credits were in excess of Reserve Minimum Monthly Guarantee for (exclusive of leaves of absence without pay) including overseas and pay.

  • Hours worked on a Vacation Day will always count as credit hours in addition to the Minimum Monthly Guarantee, but are not counted in hours worked when calculating overtime hours.


More Definitions of Minimum Monthly Guarantee

Minimum Monthly Guarantee or shall mean the proration of the Minimum Annual Guarantee which is payable in twelve equal monthly installments.
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Minimum Monthly Guarantee means the minimum amount payable by the Lessee to the Administration on a monthly basis.
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Minimum Monthly Guarantee means the Amount that Contractor(s) agrees that the city, at a minimum will be paid each month.
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Related to Minimum Monthly Guarantee

  • Bid guarantee means the bid bond, cashier's check or certified check submitted as part of the bid proposal, payable to the contracting unit, ensuring that the successful bidder will enter into a contract.

  • Call Off Guarantee means a deed of guarantee in favour of a Contracting Body in the form set out in Framework Schedule 13 (Guarantee) and granted pursuant to Clause 3 of the Template Call Off terms;

  • Subsidiary Guarantee means any guarantee of the obligations of the Issuers under this Indenture and the Notes by any Subsidiary Guarantor in accordance with the provisions of this Indenture.

  • Swap Guarantee If so specified in the Supplement with respect to any Series, the guarantee issued by the Swap Guarantor in favor of the Trust substantially in the form attached as an exhibit to the Swap Agreement.

  • Maximum Annual Debt Service means, as of the date of any calculation, the largest Annual Debt Service during the current or any future Bond Year.

  • Maximum Guaranteed Amount means as of the date of determination with respect to a Guarantor, the lesser of (a) the amount of the Guaranteed Obligations outstanding on such date and (b) the maximum amount that would not render such Guarantor’s liability under this Guaranty Agreement subject to avoidance under Section 548 of the United States Bankruptcy Code (or any successor provision) or any comparable provision of applicable state law.

  • Maximum Annual Debt Service Requirement means, at any given time of determination, the greatest amount of principal, interest and Amortization Installments coming due in any current or future Bond Year with regard to the Series of Bonds for which such calculation is made; provided, the amount of interest coming due in any Bond Year shall be reduced to the extent moneys derived from the proceeds of Bonds are used to pay interest in such Bond Year.

  • Guaranteed Amounts means the amounts due from time to time from the Issuer to (i) the Covered Bondholders with respect to each Series of Covered Bonds (excluding any additional amounts payable to the Covered Bondholders under Condition 9(a) (Gross-up by the Issuer)) and (ii) the Other Issuer Creditors pursuant to the relevant Transaction Documents.

  • Guarantee Amount means the maximum amount payable under a guarantee which amount shall be specifically set forth in writing at the time the guarantee is entered into by the authority.

  • Guaranteed Advance Payment Sum means: The maximum amount of R .........................................................................

  • Guarantee means, as to any Person, (a) any obligation, contingent or otherwise, of such Person guaranteeing or having the economic effect of guaranteeing any Indebtedness or other obligation payable or performable by another Person (the “primary obligor”) in any manner, whether directly or indirectly, and including any obligation of such Person, direct or indirect, (i) to purchase or pay (or advance or supply funds for the purchase or payment of) such Indebtedness or other obligation, (ii) to purchase or lease property, securities or services for the purpose of assuring the obligee in respect of such Indebtedness or other obligation of the payment or performance of such Indebtedness or other obligation, (iii) to maintain working capital, equity capital or any other financial statement condition or liquidity or level of income or cash flow of the primary obligor so as to enable the primary obligor to pay such Indebtedness or other obligation, or (iv) entered into for the purpose of assuring in any other manner the obligee in respect of such Indebtedness or other obligation of the payment or performance thereof or to protect such obligee against loss in respect thereof (in whole or in part), or (b) any Lien on any assets of such Person securing any Indebtedness or other obligation of any other Person, whether or not such Indebtedness or other obligation is assumed by such Person (or any right, contingent or otherwise, of any holder of such Indebtedness to obtain any such Lien). The amount of any Guarantee shall be deemed to be an amount equal to the stated or determinable amount of the related primary obligation, or portion thereof, in respect of which such Guarantee is made or, if not stated or determinable, the maximum reasonably anticipated liability in respect thereof as determined by the guaranteeing Person in good faith. The term “Guarantee” as a verb has a corresponding meaning.

  • Monthly Debt Service Payment Amount means, for each Monthly Payment Date, an amount equal to the amount of interest which is then due on all the Components of the Loan in the aggregate for the Interest Period during which such Monthly Payment Date occurs.

  • Notation of Guarantee means a notation, substantially in the form of Exhibit A, executed by a Guarantor and affixed to each Security of any Series to which the Guarantee of such Guarantor under Article XII of this Indenture applies.

  • Permitted SBIC Guarantee means a guarantee by the Borrower of Indebtedness of an SBIC Subsidiary on the SBA’s then applicable form, provided that the recourse to the Borrower thereunder is expressly limited only to periods after the occurrence of an event or condition that is an impermissible change in the control of such SBIC Subsidiary (it being understood that, as provided in clause (s) of Article VII, it shall be an Event of Default hereunder if any such event or condition giving rise to such recourse occurs).

  • Security Guarantee means the guarantee of the Securities executed by each Guarantor and the notation thereof executed pursuant to the provisions of this Indenture.

  • Parent Guarantee means the guarantee of payment of the Securities by the Parent Guarantor pursuant to the terms of this Indenture.

  • a guaranteed income payment means a payment made under article 15(1)(c) (injury benefits) or 29(1)(a) (death benefits) of the Armed Forces and Reserve Forces (Compensation Scheme) Order 2011;

  • Performance Guarantee means the security to be provided by the Contractor in accordance with Sub Clause 10.1 for the due performance of the Contract.

  • Note Guarantee means the Guarantee by each Guarantor of the Company’s obligations under this Indenture and the Notes, executed pursuant to the provisions of this Indenture.

  • Guarantee Fee shall have the meaning given to that term in Section 4.1.

  • Subsidiary Guarantee Agreement means the Subsidiary Guarantee Agreement, substantially in the form of Exhibit I, made by the Subsidiary Guarantors in favor of the Collateral Agent for the benefit of the Secured Parties.

  • Preferred Securities Guarantee means any guarantee that the Company may enter into with the Trustee or other Persons that operates directly or indirectly for the benefit of holders of Preferred Securities.

  • Guarantee Period /’Maintenance Period’ shall mean the period during which the Contractor shall remain liable for repair or replacement of any defective part of the works performed under the contract.

  • Capital Securities Guarantee means the guarantee agreement that the Company enters into with Wilmington Trust Company, as guarantee trustee, or other Persons that operates directly or indirectly for the benefit of holders of Capital Securities of the Trust.

  • Guaranteed Amount means the aggregate amount of each Guaranteed Debt that is guaranteed at any time by Partner Guarantors.

  • Annual Debt Service Charge as of any date means the amount which is expensed in any 12-month period for interest on Debt of the Company and its Subsidiaries.