New Money definition
New Money shall refer to the increase in funding recognized by the school corporation as being available for teacher salaries.
New Money means funds raised during a twelve- month period designated and described in the annual program application. These funds cannot include interest income from endowments or interest from other funds raised previous to July 1 of the year of application.
New Money. The excess, if any, of the amount applied to the new policy over the Old Money, on or within 12 months after the issue date of the new policy.
Examples of New Money in a sentence
Subject to Clause 4 (New Money), on the Senior Debt Discharge Date, the terms of this Deed shall terminate.
In essence, New Money is any money paid by the client that has not come from an existing enterprise product within the Rewritten Business Window as defined in this document.
New Money Stipulation: New Money is defined as funds not previously on deposit with General Electric Credit Union.
Matured certificates and direct deposit are not considered New Money.
Guarantor(s) Subject to tax diligence and customary exclusions, each Peruvian OpCo shall irrevocably and unconditionally jointly and severally guarantee the obligations of NewCo under the New Money Facility as principal debtor.
More Definitions of New Money
New Money means money advanced in excess of the outstanding principal balance at the time a
New Money means money advanced in excess of the outstanding principal balance at the time a new advance is made.
New Money has the meaning given to it in the Intercreditor Agreement.
New Money is defined as the amount of the total projected basic grant for the current year ending June 30, 2023, less the total amount of the total basic grant for the previous year on June 30, 2022. This “New Money” is available for bargaining teacher salaries, fringe benefits (e.g. TRF, FICA, VEBA, insurance contributions, retirement benefits, etc.) and stipends. One-time money paid in recognition of a particular performance in a compensation category. This stipend/bonus is treated as compensation subject to applicable state and local taxes. Recurring money added to the teacher’s base salary (excluding any stipend) All teacher salaries will range between $40,000 and $75,373.53 for this contract period. Teachers may not earn salaries that exceed the salary range. Teachers may earn money from ECAs and stipends more than the salary range. Teachers rated Ineffective or Improvement necessary will not be eligible for any salary increase (categories 1, 2, or 3) in the current year and will remain at their salary from the prior year. Teachers earn the stipend/bonus regardless of rating. Teachers who are not employed by Union-North United School Corporation when the stipend is paid out are not eligible to receive the stipend. In order to qualify for the fall stipend, the teachers must be currently employed by Union-North United School Corporation and must have completed between 53 and 120 paid days of service (including sick and personal days used) during the 2020-2021 school year. In order to qualify for the spring stipend, the teachers must be employed by Union-North United School Corporation during the 2021-2022 school year for between 1-120 days by March 1, 2022. Teachers who are rated Highly Effective or Effective under the Union North RISE evaluation model will be eligible to earn 6 units. Teachers who are rated Needs Improvement or Ineffective will be eligible for 0 units. Upon completing 120 days with the corporation, each staff member will be eligible to earn 1 unit. Teachers with 15 credit hours beyond a bachelor’s degree will earn 1 unit and those with 30 credit hours beyond a bachelor’s degree will earn 2 units. Teachers may not earn more than 2 units for education. For every 10 hours of professional development, leadership, or addressing of academic needs for students, teachers will earn 1 unit up to a maximum of 3 units. The building principal must approve all activities and a log of the teacher’s hours must be confirmed. If sufficient hours to earn a unit ar...
New Money means the funds advanced to the Issuer pursuant to the New Money 2025 Notes by the New 2025 Notes Purchasers on or around the date of this Agreement on the terms set out in the New Money 2025 Notes Purchase Agreement.
New Money is, at any relevant time, all principal amounts from time to time outstanding under the various facilities under the Credit Agreement at that time in excess of the Old Money. The maximum amount of the New Money will be the difference between the (pound)111,163,893.43 of outstanding principal referred to above and the sterling equivalent of $225M which will be calculated at the spot rate of exchange used under the Restructuring Deed on the date of the Restructuring.
New Money. Excludes Add'l Days Contract Year Vermont State Employees