Pay Increases a) The pay rates prescribed under Clause 2 above will be increased by the amount of the increase as handed down by the Australian Fair Pay Commission each year during the term of this agreement.
Funding Increases Before the Funder can make an allocation of additional funds to the HSP, the parties will:
Merit Increases (a) Subject to documented assessment and performance review undertaken pursuant to the Performance Management System, an employee on anniversary date may be granted an increase of up to five pay increments in the pay scale, not to exceed the control point maximum.
Periodic Increases Periodic increases are provided as follows:
Pay Increments 44.5.1 Except as provided in sub-clauses 44.5.4 and 44.5.5 of clause 44.5 an employee holding an appointment at one of the classification levels listed in Schedule 1 of this Agreement shall be granted pay increments on completion of the applicable pay increment period until he reaches the maximum rate in the scale of rates for the classification level to which he is appointed.
Step Increases (a) The following is the method used to determine service credit, since the last date of hire, for purposes of positioning on the salary range:
Permitted Payments Hedging Liabilities
Returned Payments If after receipt of any payment which is applied to the payment of all or any part of the Obligations (including a payment effected through exercise of a right of setoff), the Administrative Agent or any Lender is for any reason compelled to surrender such payment or proceeds to any Person because such payment or application of proceeds is invalidated, declared fraudulent, set aside, determined to be void or voidable as a preference, impermissible setoff, or a diversion of trust funds, or for any other reason (including pursuant to any settlement entered into by the Administrative Agent or such Lender in its discretion), then the Obligations or part thereof intended to be satisfied shall be revived and continued and this Agreement shall continue in full force as if such payment or proceeds had not been received by the Administrative Agent or such Lender. The provisions of this Section 2.21 shall be and remain effective notwithstanding any contrary action which may have been taken by the Administrative Agent or any Lender in reliance upon such payment or application of proceeds. The provisions of this Section 2.21 shall survive the termination of this Agreement.
FUNDING INCREASE 1. The Commonwealth shall notify the Grantee in writing of any funding increases under this Agreement.
Delayed payments The Parties hereto agree that payments due from one Party to the other Party under the provisions of this Agreement shall be made within the period set forth therein, and if no such period is specified, within 30 (thirty) days of receiving a demand along with the necessary particulars. Unless otherwise specified in this Agreement, in the event of delay beyond such period, the defaulting Party shall pay interest for the period of delay calculated at a rate equal to 5% (five per cent) above the Bank Rate, and recovery thereof shall be without prejudice to the rights of the Parties under this Agreement including Termination thereof.
