Time in Lieu definition

Time in Lieu. – means that support staff will receive paid time off work instead of overtime pay. Time in Lieu may also be referred to as “Banked Time”.
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Time in Lieu means paid time taken off work during ordinary hours, in lieu of payment for overtime worked.
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Time in Lieu means pre-authorized credit for hours previously worked, for which pay has not been received and for which the Employee is entitled to equivalent time off.
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Examples of Time in Lieu in a sentence

  • The position may require some work to be undertaken outside of normal working hours, which will be accrued as Time in Lieu.

  • The position will require some work to be undertaken outside or normal working hours, but any extra hours worked will be accrued as Time in Lieu.

  • There is no paid overtime, but any additional hours worked will be accrued as Time in Lieu.

  • Compensatory Time in Lieu of Overtime Payment - Non-bargaining unit positions which are considered non-exempt in accordance with the Fair Labor Standards Act overtime provisions are generally considered hourly positions.

  • There may be a requirement to work additional hours from time to time for which Time in Lieu will apply.

  • CUSTOMER is responsible for all payable Time in Lieu and Lost Work Opportunity claims related to CUSTOMER actions that may be filed against OPERATOR.

  • There is no paid overtime, but any extra hours worked will be accrued as Time in Lieu.

  • The following Banked Time in Lieu Of Overtime agreement shall apply to all PWU represented employees as follows: An employee who has accumulated overtime hours shall receive this in earnings, calculated at the appropriate premium rate and cannot be required to take time off in lieu of payment.

  • The City of West Linn adopted Resolution No. 96-24 and signed the agreement on July 22, 1996.

  • Where the Employer closes one or more of its operations over the Christmas/New Year period and provided not less than 4 weeks’ notice in writing to affected Employees, such Employees will be afforded the option of utilising Annual Leave, Time in Lieu, Accrued Days Off for the period of closure or, in the event of insufficient credits, leave without pay.


More Definitions of Time in Lieu

Time in Lieu means an Employee being granted paid leave instead of being paid at overtime rates and any such Time In Lieu is calculated on an hour for hour basis (i.e. the Employee is given time off for a period equal to the number of additional hours worked).
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Time in Lieu means leave with pay in lieu of cash payment for compensation at the overtime or straight time rate where specified in this Agreement. The duration of such leave shall be equal to the time worked multiplied by the applicable overtime rate (or straight time rate where specified). The rate of pay to which an employee is entitled during such leave shall be based on the employee's hourly rate of pay in effect on the day immediately prior to the day on which leave is taken;
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Time in Lieu means paid time taken off work during ordinary hours, in lieu of payment for overtime worked. "Week" means Monday to Sunday.
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Related to Time in Lieu

  • Fraction means, in respect of any Borrower as determined at any time, a fraction, the numerator of which shall be the Borrower Sublimit of such Borrower at such time, and the denominator of which shall be the sum of the Borrower Sublimits of all Borrowers at such time.

  • Other Consideration means cash and/or any securities (other than New Shares) or assets (whether of the entity or person (other than the Share Issuer) involved in the Merger Event or a third party).

  • Pro Rata Fraction means a fraction, the numerator of which shall be equal to the number of days between the Grant Date and the Participant’s Date of Termination and the denominator of which shall be 1095.

  • Share means a share of the Common Stock, as adjusted in accordance with Section 13 of the Plan.

  • Fractional Share means a fractional share in the ICAV issued in accordance with Section 12.5.

  • PO Fraction With respect to any Discount Mortgage Loan, the difference between 1.0 and the Non-PO Fraction for such Mortgage Loan; with respect to any other Mortgage Loan, zero. Pool Balance (Non-PO Portion): As of any Distribution Date, the sum of the amounts for each Mortgage Loan that is an Outstanding Mortgage Loan of the product of (i) the Non-PO Fraction for such Mortgage Loan and (ii) the Scheduled Principal Balance of such Mortgage Loan. Pool Balance (PO Portion): As of any Distribution Date, the sum of the amounts for each Mortgage Loan that is an Outstanding Mortgage Loan of the product of (i) the PO Fraction for such Mortgage Loan and (ii) the Scheduled Principal Balance of such Mortgage Loan.

  • Non-PO Fraction With respect to any Mortgage Loan, the lesser of (i) 1.00 and (ii) the quotient obtained by dividing the Net Mortgage Interest Rate for such Mortgage Loan by 6.500%.

  • car-share means the practice where a number of people share the use of one or more cars that are owned by a profit or non-profit car-sharing organization and where such organization may require that use of cars to be reserved in advance, charge fees based on time and/or kilometres driven, and set membership requirements of the car-sharing organization, including the payment of a membership fee that may or may not be refundable;

  • Share Value means $25.00 plus declared and unpaid dividends as at the date of the Trigger Event.

  • Settlement Unit means each hour in a day divided into hour-long periods starting at 00:00 on such day.

  • Unit Share has the meaning ascribed thereto in the first paragraph of this Agreement;

  • REIT Share means a share of common stock, par value $.01 per share, of the General Partner.

  • Common Share means one share of the common stock of the Company.

  • Cost Share means the member’s financial obligation for a covered service. Depending on the plan type, cost-share may include one or more of the following: deductible, copay, access fee, coinsurance, pharmacy deductible, and precertification charges.

  • Black Scholes Consideration Value means the value of the applicable Option, Convertible Security or Adjustment Right (as the case may be) as of the date of issuance thereof calculated using the Black Scholes Option Pricing Model obtained from the “OV” function on Bloomberg utilizing (i) an underlying price per share equal to the Closing Sale Price of the Common Stock on the Trading Day immediately preceding the public announcement of the execution of definitive documents with respect to the issuance of such Option or Convertible Security (as the case may be), (ii) a risk-free interest rate corresponding to the U.S. Treasury rate for a period equal to the remaining term of such Option, Convertible Security or Adjustment Right (as the case may be) as of the date of issuance of such Option, Convertible Security or Adjustment Right (as the case may be), (iii) a zero cost of borrow and (iv) an expected volatility equal to the greater of 100% and the 30 day volatility obtained from the “HVT” function on Bloomberg (determined utilizing a 365 day annualization factor) as of the Trading Day immediately following the date of issuance of such Option, Convertible Security or Adjustment Right (as the case may be).

  • Exchange Value is the adjusted appraised value of the Property which takes into consideration various factors to balance the business value of the Property within its present ownership structure.

  • Share Valuefinal means the Preference Share Value on the Valuation Date; and "Share Valueinitial" means the Preference Share Value on the Initial Valuation Date.

  • Warrant Value means the fair value of all warrants, options and other similar rights issued to a third party in connection with an Other Financing, determined by using a standard Black-Scholes option-pricing model using an expected volatility percentage as shall be mutually agreed by the Investor and the Company. In the case of a dispute relating to such expected volatility assumption, the Investor shall obtain applicable volatility data from three investment banking firms of nationally recognized reputation, and the parties hereto shall use the average thereof for purposes of determining the expected volatility percentage in connection with the Black-Scholes calculation referred to in the immediately preceding sentence. EXHIBIT A TO THE COMMON STOCK PURCHASE AGREEMENT FORM OF FIXED REQUEST NOTICE Reference is made to the Common Stock Purchase Agreement dated as of May 19, 2010, (the “Purchase Agreement”) between NeoStem, Inc., a corporation organized and existing under the laws of the State of Delaware (the “Company”), and Commerce Court Small Cap Value Fund, Ltd., a business company incorporated under the laws of the British Virgin Islands. Capitalized terms used and not otherwise defined herein shall have the meanings given such terms in the Purchase Agreement. In accordance with and pursuant to Section 2.1 of the Purchase Agreement, the Company hereby issues this Fixed Request Notice to exercise a Fixed Request for the Fixed Amount Requested indicated below. Fixed Amount Requested: Optional Amount Dollar Amount: Pricing Period start date: Pricing Period end date: Settlement Date: Fixed Request Threshold Price: Optional Amount Threshold Price: Dollar Amount of Common Stock Currently Unissued under the Registration Statement Dollar Amount of Common Stock Currently Available under the Aggregate Limit: Dated: ____________________ By: Name: Title: Address: Facsimile No.: AGREED AND ACCEPTED By: Name: Title: EXHIBIT B TO THE COMMON STOCK PURCHASE AGREEMENT FORM OF OPTIONAL AMOUNT NOTICE To: Fax#: Reference is made to the Common Stock Purchase Agreement dated as of May 19, 2010 (the “Purchase Agreement”) between NeoStem, Inc., a corporation organized and existing under the laws of the State of Delaware (the “Company”), and Commerce Court Small Cap Value Fund, Ltd., a business company incorporated under the laws of the British Virgin Islands (the “Investor”). Capitalized terms used and not otherwise defined herein shall have the meanings given such terms in the Purchase Agreement. In accordance with and pursuant to Section 2.1 of the Purchase Agreement, the Investor hereby issues this Optional Amount Notice to exercise an Optional Amount for the Optional Amount Dollar Amount indicated below. Optional Amount Dollar Amount Exercised Number of Shares to be purchased VWAP on the date hereof: Discount Price: Settlement Date: Threshold Price: Dated: ____________________ By: Name: Title: Address: Facsimile No.: EXHIBIT C TO THE COMMON STOCK PURCHASE AGREEMENT CERTIFICATE OF THE COMPANY CLOSING CERTIFICATE _________ 200__ The undersigned, the [___________] of NeoStem, Inc., a corporation organized and existing under the laws of the State of Delaware (the “Company”), delivers this certificate in connection with the Common Stock Purchase Agreement, dated as of May 19, 2010 (the “Agreement”), by and between the Company and Commerce Court Small Cap Value Fund, Ltd., a business company incorporated under the laws of the British Virgin Islands (the “Investor”), and hereby certifies on the date hereof that (capitalized terms used herein without definition have the meanings assigned to them in the Agreement):

  • Pro Rata Repurchase means any purchase of shares of Common Stock by the Corporation or any subsidiary thereof, whether for cash, shares of capital stock of the Corporation, other securities of the Corporation, evidences of indebtedness of the Corporation or any other person or any other property (including shares of a subsidiary of the Corporation), or any combination thereof, effected while any of the shares of ESOP Preferred Stock are outstanding, pursuant to any tender offer or exchange offer subject to Section 13(e) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or any successor provision of law, or pursuant to any other offer available to substantially all holders of Common Stock; provided, however, that no purchase of shares by the Corporation or any subsidiary thereof made in open market transactions shall be deemed a Pro Rata Repurchase. For purposes of this paragraph I(7), shares shall be deemed to have been purchased by the Corporation or any subsidiary thereof “in open market transactions” if they have been purchased substantially in accordance with the requirements of Rule 10b-18 as in effect under the Exchange Act, on the date shares of ESOP Preferred Stock are initially issued by the Corporation or on such other terms and conditions as the Board of Directors of the Corporation or a committee thereof shall have determined are reasonably designed to prevent such purchases from having a material effect on the trading market for the Common Stock.

  • Warrant Share means a Common Share issuable upon exercise of one Warrant;

  • Per Share Value means the average value of the consideration to be received in respect of each outstanding Common Share pursuant to the Qualifying Transaction as determined by mutual agreement of the Independent Directors (as defined in Section 2(b)(i) below) and the holders of a majority in interest of all outstanding warrants to purchase Common Shares containing this provision, or, if they shall fail to agree, by an Investment Bank.

  • Applicable Fraction means Applicable Fraction as defined in Section 42(c)(1)(B) of the IRC.

  • Sponsor Exercise Fair Market Value means the average last reported sale price of the Ordinary Shares for the ten (10) trading days ending on the third (3rd) trading day prior to the date on which notice of exercise of the Private Placement Warrant is sent to the Warrant Agent;

  • FR Value means, in respect of a ST FR Valuation Date, Worst Value.

  • Phantom Share means a right, pursuant to the Plan, of the Grantee to payment of the Phantom Share Value.

  • Performance Share means an Award denominated in Shares which may be earned in whole or in part upon attainment of performance goals or other vesting criteria as the Administrator may determine pursuant to Section 10.