Average Hourly Rate Sample Clauses

Average Hourly Rate. For the purposes of leaves with pay, employees shall receive pay based on their posted position. In the case of employees whose hours fluctuate or who work at more than one pay grade, pay shall be based on an average hourly rate of two (2) previous pay periods calculated at the rates in effect when the time was taken off. Employees temporarily posted to a higher position for less than sixty (60) consecutive days shall receive pay on the regular posted position.
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Average Hourly Rate. For the purpose of this article average hourly rate shall be calculated as the employee's straight time hourly earnings including applicable incentive earnings, but excluding shift differentials, premium pay, overtime earnings and holiday pay, during the previous four (4) closed and calculated pay periods worked by the employee.
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Average Hourly Rate. The average hourly rate based on a calculation one (1) month prior to the month of the occurrence is used for time for the Grievance Committee and President, holiday pay, jury and witness pay, funeral pay, Company convenience transfers, and calculation of vacation pay following extended illnesses and layoff due to temporary lack of work.
Sample 1
Average Hourly Rate. The average hourly rate is the basic hourly rate plus the average hourly premium. The average hourly premium is one-fortieth (1/40th) of the total premium earned as a production bonus or for change of schedule without advance notice, for night or Sunday work within the basic forty (40) hour work-week. These premiums (other than standby pay) are not payable on days of absence from work.
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Average Hourly Rate equals the notional hourly rate as derived by dividing the Average Annual Wage by the Base Worked Hours per annum.
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Related to Average Hourly Rate

  • Fee Rate The fee shall be at the annual rate of 0.65% of the average daily net assets of the Fund.

  • Annual Percentage Rate Each Receivable has an APR of not more than 25.00%.

  • Average Annual Compensation The Executive's "Average Annual Compensation" for purposes of this Agreement shall be deemed to mean the average level of compensation paid to the Executive by the Employers or any subsidiary thereof during the most recent five taxable years preceding the Date of Termination, including Base Salary and benefits and bonuses under any employee benefit plans of the Employers.

  • Utilization Fee If the aggregate outstanding amount of (i) all Revolving Credit Advances hereunder and (ii) all "Revolving Credit Advances" under (and as defined in) the Three-Year Agreement exceeds thirty-three percent (33%) of the aggregate amount of (x) all Commitments hereunder and (y) all "Commitments" under (and as defined in) the Three-Year Agreement then in effect on such date (or, if any of the Commitments or "Commitments" have been terminated, the aggregate amount of all Commitments and "Commitments" in effect immediately prior to such termination), the Borrower will pay to the Agent for the ratable benefit of the Lenders a utilization fee (the "Utilization Fee") at a per annum rate equal to the Applicable Utilization Fee Rate in effect from time to time payable on the aggregate outstanding amount of all Revolving Credit Advances on such date, payable in arrears quarterly on the last day of each March, June, September and December, and on the Revolver Termination Date.

  • Unused Facility Fee A quarterly Unused Facility Fee equal to one quarter of one percent (0.25%) per annum of the difference between the Revolving Line and the average outstanding principal balance of Advances during the applicable quarter, which fee shall be payable within five (5) days of the last day of each such quarter and shall be nonrefundable; and

  • Times of Day; Rates Unless otherwise specified, all references herein to times of day shall be references to Eastern time (daylight or standard, as applicable). The Administrative Agent does not warrant, nor accept responsibility, nor shall the Administrative Agent have any liability with respect to the administration, submission or any other matter related to the rates in the definition of “Eurodollar Rate” or with respect to any comparable or successor rate thereto.

  • Interest Rates and Letter of Credit Fee Rates Payments and Calculations (a) Interest Rates. Except as provided in Section 2.13(c) and Section 2.15(a), all Obligations (except for the undrawn portion of the face amount of Letters of Credit) that have been charged to the Loan Account pursuant to the terms hereof shall bear interest at a per annum rate equal to the lesser of (i) the LIBOR Rate plus the Applicable Margin, or (ii) the maximum rate of interest allowed by applicable laws; provided, that following notice to Borrower in accordance with Section 2.15(a) hereof, all Obligations that have been charged to the Loan Account pursuant to the terms hereof shall bear interest at a per annum rate equal, during the duration of the circumstances described in Section 2.15(a), to the lesser of (A) the Base Rate plus the Applicable Margin as calculated pursuant to Section 2.15(a) or (B) the maximum rate of interest allowable by applicable laws.

  • Daily All time worked after forty-eight (48) hours per week or after ten (10) hours per day, or before seven o’clock in the forenoon (7:00 a.m.) and six o’clock in the afternoon (6:00 p.m.) shall be deemed overtime work or shift work and shall be paid at time and one-half (1 1/2) the regular shift rate, save and except shift work.

  • Maximum Total Leverage Ratio Permit the Total Leverage Ratio as of the last day of any fiscal quarter, commencing with the fiscal quarter ending September 30, 2017, to exceed the ratio set forth below with respect to such fiscal quarter: Fiscal Quarter Maximum Total Leverage Ratio Fiscal quarter ending September 30, 2017 5.50 to 1.00 Fiscal quarter ending December 31, 2017 4.50 to 1.00 Fiscal quarter ending March 31, 2018 4.50 to 1.00 Fiscal quarters ending June 30, 2018 and thereafter 3.00 to 1.00

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