Downward Adjustment. Any downward adjustment of any position or class of positions shall be considered a demotion and shall take place only as a result of following the layoff or disciplinary procedures of this Agreement.
Downward Adjustment. 19.6.1 Any involuntary downward adjustment of any position or class of positions shall be considered a demotion.
Downward Adjustment. Downward adjustment of any bargaining unit employee's position or class of positions shall be considered a demotion and shall not take place until the employee is given twenty (20) working days written notice, and the Association and the County Office have had an opportunity to discuss the situation prior to Board action.
Downward Adjustment. In the event that the pay range for a classification is adjusted downward pursuant to this Section 8.4, the pay rate of employees in that classification will remain unchanged. If the employee’s rate is over the maximum of the new range, the employee’s pay will be frozen and the employee will not receive any increase on base pay until the top of the new range has exceeded the frozen rate of pay.
Downward Adjustment. If the Final Working Capital (as finally determined pursuant to Section 1.07(b)) is less than the Target Working Capital, then the Purchase Price will be adjusted downward by the amount of such shortfall, and Seller shall pay or cause to be paid an amount in cash equal to such shortfall to Purchaser by wire transfer of immediately available funds to an account or accounts designated in writing by Purchaser to Seller. Any such payment is to be made within five (5) Business Days of the date on which the Final Working Capital is finally determined pursuant to Section 1.07(b).
Downward Adjustment. When it is agreed that an entire classification shall be reallocated to a lower salary classification, all incumbents serving therein shall be continued at their former rate of pay until future salary adjustments provide a salary increase for those incumbents in the new salary classification. Any other downward adjustment of salary shall be considered a demotion, and shall take place only in accordance with the layoff or disciplinary procedures of this Agreement and applicable law.
Downward Adjustment. If, following determination of the Final Consideration in accordance with this Section 2.05, there is a Downward Adjustment Amount, the Acquiror and the Sellers’ Representative shall deliver joint written instructions to the Escrow Agent, within three (3) Business Days from the date on which the Final Consideration is finally determined pursuant to this Section 2.05, instructing the Escrow Agent to pay to the Acquiror, from the Adjustment Escrow Account, an amount equal to the Downward Adjustment Amount (if the Downward Adjustment Amount is less than the Adjustment Escrow Amount) or the Adjustment Escrow Amount (if the Downward Adjustment Amount is equal to or greater than the Adjustment Escrow Amount), by wire transfer of immediately available funds to an account or accounts designated by the Acquiror. If the Adjustment Escrow Amount is insufficient to satisfy the Downward Adjustment Amount in full, the Acquiror and the Sellers’ Representative shall deliver joint written instructions to the Escrow Agent, within three (3) Business Days from the date on which the Final Consideration is finally determined pursuant to this Section 2.05, instructing the Escrow Agent to pay to the Acquiror an amount equal to the excess of the Downward Adjustment Amount over the Adjustment Escrow Amount from the Indemnity Escrow Amount by wire transfer of immediately available funds to an account or accounts designated by the Acquiror. After the Downward Adjustment Amount is fully paid to the Acquiror in accordance to this Section 2.05(g), the Acquiror and the Sellers’ Representative shall deliver joint written instructions to the Escrow Agent, instructing the Escrow Agent to release the balance of the funds remaining in the Adjustment Escrow Account, if any, to the Sellers’ Representative (for the benefit of Sellers) within one (1) Business Day from the date on which the Downward Adjustment Amount is paid to the Acquiror in accordance with this Section 2.05(g), by wire transfer of immediately available funds to an account or accounts designated by the Sellers’ Representative.
Downward Adjustment. No position shall be adjusted downward during the life of this Agreement.
Downward Adjustment. If the Final Purchase Price (as finally determined pursuant to Section 2.2(b)) is less than the Estimated Purchase Price, then Seller shall, within ten (10) days from the date on which the Final Purchase Price is finally determined, pay to Purchaser an amount in cash equal to the amount of such shortfall.
Downward Adjustment. If the Final Purchase Price (as finally determined pursuant to Section 2.3(a)(ii)) is less than Initial Purchase Price paid on the Closing Date, then the Representative and the Buyer shall deliver a joint written authorization to the Escrow Agent within two Business Days from the date on which the Final Purchase Price finally is determined pursuant to Section 2.3(a)(ii) authorizing the Escrow Agent to release from the Base Escrow Amount an amount of cash equal to up to $50,000 of such shortfall to the Buyer within five Business Days from the date on which the Final Purchase Price is finally determined pursuant to Section 2.3(a)(ii). If the Base Escrow Amount is insufficient to pay the full amount of such shortfall to the Buyer or if the such shortfall amount exceeds $50,000, then each Seller shall pay its Allocable Share of the unpaid portion of such shortfall, or such amount in excess of $50,000 within five Business Days from the date on which the Final Purchase Price is finally determined pursuant to Section 2.3(a)(ii) by bank wire transfer of immediately available funds to the accounts designated in writing by the Buyer to the Representative prior to the date such payment is due hereunder.
