Total Reductions definition
Total Reductions means the annual dollar value of all wage and benefit reductions and workrule enhancements implemented by the Company with respect to all Workgroups in connection with the Reduction Program, excluding reductions applicable to Excluded Persons, with such annual value calculated based on the targeted reductions within the Reduction Program. If a Workgroup is added to Schedule A after the Effective Date, Total Reductions shall include the targeted reductions for such added Workgroup.
Total Reductions means the annual dollar value of all wage and benefit reductions and workrule enhancements implemented by the Company with respect to all Workgroups in connection with the Reduction Program, excluding reductions applicable to Excluded Persons, with such annual value calculated based on the targeted reductions within the Reduction Program. If a Workgroup is added to Schedule A after the Effective Date, Total Reductions shall include the targeted reductions for such added Workgroup; provided, however, if a Workgroup failed to ratify or implement the requested reductions by the target date set by the Company, then Total Reductions for any partial year(s) of participation will be calculated to reflect any adjustments made pursuant to the definition of Individual Workgroup Reductions.
Examples of Total Reductions in a sentence
If the Borrower fails to pay any Instalment on an Instalment Payment Date in accordance with the above provisions, the Loan (as reduced only by the Upfront Amount and any previously made Total Reductions) shall become immediately due and payable.