Retained Duty definition

Retained Duty means any role or duty under a Corporate Trust Contract with respect to any Appointment as account bank, depositary / depository, depository agent, eligible lender trustee, master servicer, backup advancing agent, trustee (or other similar role), buyer, financial institution or lender, in each case:
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Retained Duty means any role or duty under a Corporate Trust Contract with respect to any Appointment as account bank, depositary / depository, depository agent, eligible lender trustee, master servicer, backup advancing agent, trustee (or other similar role), buyer, financial institution or lender, in each case: (a) to the extent that the applicable Corporate Trust Contract requires such role to be performed by a deposit taking institution and to the extent that no Purchaser is eligible to serve in such role (it being understood that, Purchasers and their Affiliates will not be required to accept and hold deposits from a third party unaffiliated with the Purchasers); or (b) to the extent that the Purchasers or their Affiliates would be required to fund or originate loans or other extensions of credit (provided that neither this clause (b) nor clause (c) below shall limit Purchasers’ obligations to satisfy advancing obligations or backup advancing obligations with respect to servicing, master servicing, trustee, bond administration or backup advancing agent roles (or other similar roles) in accordance with the terms of any applicable Corporate Trust Contract); or (c) to the extent that the applicable rating agency counterparty criteria are not satisfied so as to allow a Purchaser that is otherwise eligible to serve in such role to assume such role without causing a rating agency in connection with such transaction to downgrade (or place on watch for downgrade) the rating assigned to the Securities issued pursuant to such Corporate Trust Contract (provided, that (i) this clause (c) shall not require the Sellers to retain any obligation other than backup advancing or retain any role to the extent not directly related to backup advancing; (ii) notwithstanding anything to the contrary in this Agreement or the Purchase Agreement, the retention by Sellers of any backup advancing obligations pursuant to this provision shall not be the basis, in and of itself, for treating an Appointment as a Restricted Appointment (rather than as a Transferred Asset); (iii) if at any time the applicable rating agency counterparty criteria are satisfied so as to allow a Purchaser that is otherwise eligible to serve in such role to assume such role without causing a rating agency in connection with such transaction to downgrade (or place on watch for downgrade) the rating assigned to the Securities issued pursuant to such Corporate Trust Contract, the backup advancing function will automatically...
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Examples of Retained Duty in a sentence

  • Employees employed on the Retained Duty System are paid an annual Retaining Fee and receive subsequent payments based on attendance at incidents and other activity – these include attendance at drill nights, disturbance fees, turnout fees, attendance fees, training fees, other authorised NFRS duties and compensation for loss of earnings.

  • It does not include Retained Duty System Fire- fighters who are paid according to turn-outs (please refer to section 3.6).

  • Action has been taken by HMRC in other Fire Authorities, which relates to the retirement of whole time firefighters before reaching the age of 55, if they remain employed as Firefighters on the Retained Duty System.

  • Ultimately further costs may arise.2. The Service is one of a number of FRAs with ET claims lodged as part of a group action by Retained Duty System (RDS) employees regarding the Part Time Workers Regulations and their respective terms and conditions of employment and pension eligibility/ entitlement.

  • OFRS currently uses Gartan Technologies for managing our Retained Duty System (RDS) Firefighters availability for use at emergency calls and the production of performance management reports related to this.

  • L – RDS Pension Contribution Reserve This reserve has been setup to cover any potential costs that may be incurred in relation to back- dated Retained Duty System (RDS) pensions.

  • The following table gives the ratio between the Chief Fire Officer’s remuneration and the median remuneration of Fire Service staff: The staff that are employed under Retained Duty System Contracts have been included in the calculation on their Full Time Equivalent scale point rather than actual earnings.

  • Retained Duty firefighters normally provide services on weekends and would not usually be asked to be on call for more than 8 hours during the working week.

  • This includes Wholetime, Retained Duty staff and Control Room staff.

  • All of the presentations set out in detail the rationale behind the proposal to change the current wholetime crewing system to one where staff work a 12 hour day shift, with evening cover provided by Retained Duty System (RDS) personnel.

Related to Retained Duty

  • Active duty means full-time duty status in the active, uniformed services of the United States, including without limitation members of The National Guard and Reserve on active duty orders under 10 U.S.C. §§ 1209 and 1210.

  • Retained Obligations shall have the meaning set forth in Section 2.6.

  • Serviced Duty means all duties and obligations of the Sellers in a Corporate Trust Capacity under the Serviced Corporate Trust Contract related to each Serviced Appointment, in each case, other than any Retained Duty.

  • Retained Rights has the meaning set forth in Section 2.2.

  • Retained Declined Proceeds has the meaning specified in Section 2.05(b)(v).

  • Retained Professional means an Entity: (a) employed in the Chapter 11 Cases pursuant to a Final Order in accordance with sections 327 and 1103 of the Bankruptcy Code and to be compensated for services rendered prior to the Effective Date, pursuant to sections 327, 328, 329, 330, or 331 of the Bankruptcy Code; or (b) for which compensation and reimbursement has been allowed by the Bankruptcy Court pursuant to section 503(b)(4) of the Bankruptcy Code.

  • Active duty military means full-time duty status in the active uniformed service of the United States, including members of the National Guard and Reserve on active duty orders pursuant to 10 U.S.C. Section 1209 and 1211.

  • Son or daughter on active duty or call to active duty status means the employee's biological, adopted, or foster child, stepchild, legal ward, or a child for whom the employee stood in loco parentis, who is on active duty or call to active duty status, and who is of any age.

  • Retained limit means the greater of:

  • On duty means that a pharmacist is on the premises at the address of the permitted pharmacy and is available as needed.

  • Retained Shares has the meaning set forth in the recitals.

  • Retained Assets has the meaning set forth in Section 2.2.

  • Retained Employee does not include any individual who has a direct or an indirect ownership interest of at least five percent (5%) in the profits, equity, capital, or value of the Taxpayer, or a child, grandchild, parent, or spouse, other than a spouse who is legally separated from the individual, of any individual who has direct or indirect ownership interest of at least five percent (5%) of the profits, equity, capital or value of the Company.

  • Retained Names and Marks has the meaning set forth in Section 5.12(a).

  • Retained Causes of Action means those Causes of Action that shall vest in the Reorganized Debtors on the Effective Date, which, for the avoidance of doubt, shall not include any of the Causes of Action that are settled, released or exculpated under the Plan.

  • excise duty subject to subsection (3), means any duty leviable under Part 2 of Schedule 1 on any goods manufactured in Namibia;

  • Retained Liabilities has the meaning set forth in Section 2.4.

  • Retained Claims means the Debtors’ interests in all existing and potential causes of action and litigation in which any of the Debtors is the plaintiff (or could be a plaintiff), or a defendant with a counterclaim or cross claims, including, without limitation, any claim, right or interest each or any of the Debtors may have as a direct or indirect result of COVID-19, against or with respect to any local, state, or federal government, agency, instrumentality, or other Governmental Unit as well as any insurer (or account of any Insurance Policy), including, without limitation, Relief Funds.

  • the works period means the period starting at 20:00 hours on Monday 9th

  • Retained Amount means the present value (as determined in accordance with sections 280G(b)(2)(A)(ii) and 280G(d)(4) of the Code) of the Total Benefits net of all federal, state and local taxes imposed on Executive with respect thereto.

  • Retained Employees has the meaning set forth in Section 6.1.1.

  • Retained Contracts shall have the meaning specified in Section 2.1.6.

  • Covered Active Duty means (1) in the case of a member of a regular component of the Armed Forces, duty during the deployment of the member with the Armed Forces to a foreign country; and (2) in the case of a member of a reserve component of the Armed Forces, duty during the deployment of the member with the Armed Forces to a foreign country under a call or order to active duty (or notification of an impending call or order to active duty) in support of a contingency operation as defined by applicable law.

  • Restriction Period means any period designated by the Committee during which (i) the Common Stock subject to a Restricted Stock Award may not be sold, transferred, assigned, pledged, hypothecated or otherwise encumbered or disposed of, except as provided in this Plan or the Agreement relating to such award, or (ii) the conditions to vesting applicable to a Restricted Stock Unit Award shall remain in effect.

  • Willful and Material Breach means a deliberate act taken or deliberate failure to act that the breaching party intentionally takes (or fails to take) with the actual knowledge that the taking of such act or failure to take such act constitutes, or will constitute, a material breach or deemed breach of this Agreement.