Double time rate definition

Double time rate means two (2) times straight rate.
Sample 1Sample 2Sample 3
Double time rate or "rate of double time" shall mean when applicable to ordinary hours of work on a week day, holiday or Sunday, the ordinary hourly rate payable as part of the employees weekly wage and, in addition, a rate equal to such ordinary hourly rate.
Sample 1Sample 2

Examples of Double time rate in a sentence

  • Double time rate of pay is 2 times the basic rate of pay plus such other differential increment as required under the terms of the Fair Labor Standards Act in effect on the date of this Agreement.

  • Double time rate of pay is two times the basic rate of pay plus such other differential increment as required under the terms of the Fair Labor Standards Act in effect on the date of this Agreement.

  • Double time shall be paid for all hours worked on a Sunday or Official Holiday with a guaranteed minimum of four (4) hours pay at said Double time rate.

  • Time-and-one-half rate: payable per hour (1.5 x straight time rate.) Double time rate: payable per hour (2 x straight time rate).

  • OVERTIME PAY See (A, *E, Q) on OVERTIME PAGE Double time rate after 10 hours on Saturdays HOLIDAY Paid: See (1) on HOLIDAY PAGE Overtime: See (5, 6, 11, 15, 16, 25) on HOLIDAY PAGE 9-7/88-xx Xxxxx - Building 10/01/2021 JOB DESCRIPTION Xxxxx - Building DISTRICT 9 ENTIRE COUNTIES Bronx, Kings, Nassau, New York, Queens, Richmond, Suffolk, Westchester WAGES Per hour: 07/01/2021 01/01/2022 Marble, Stone,etc.

  • The hourly rate for overtime payment will be ascertained by applying the following formulas: Time and a half rate: Annual Salary/313 x 6/36.75 x 3/2 Double time rate: Annual salary/313 x 6/36.75 x 2/1 Double time and a half rate: Annual Salary/313 x 6/36.75 x 5/2 See also clauses 74) to 76) for payment of meal allowance during periods of paid overtime.

  • The hourly rate for overtime payment will be ascertained by applying the following formulae: 313 36.75 Double time rate: 2 Annual Salary x 6 x 2 313 36.75 1 Overtime payments will be calculated using the exact time claimed.

  • Double- time rate (ET * 2) is applicable on Weekdays (M-F after 8:00pm), Saturdays (after 4:00pm), and all of Sunday and Holidays.

  • The hourly rate for overtime payment will be ascertained by applying the following formulas: Time and a half rate: Annual Salary x 6 x 3 313 prescribed weekly hours before overtime is payable 2 Double time rate: Annual Salary x 6 x 2 313 prescribed weekly hours before overtime is payable 1 Double time and a half rate: Annual Salary x 6 x 5 313 prescribed weekly hours before overtime is payable 2 For the purpose of calculating the formula above, prescribed weekly hours before overtime is payable will be 38.

  • The hourly rate for overtime payment will be ascertained by applying the following formulas: Time and a half rate: Annual Salary/313 x 6/36.75 x 3/2 Double time rate: Annual salary/313 x 6/36.75 x 2/1 Double time and a half rate: Annual Salary/313 x 6/36.75 x 5/2 See also clauses 77 to 79 for payment of meal allowance during periods of paid overtime.

Related to Double time rate

  • Straight-time rate means the hourly rate of remuneration.

  • U.S. Prime Rate means the rate from time to time publicly announced by Reference Bank, or its successors, as its prime rate, whether or not such announced rate is the best rate available at such bank.

  • Prime Rate Margin is set forth on Schedule I hereto.

  • Canadian Prime Rate means, on any day, the annual rate of interest equal to the greater of (a) the annual rate of interest announced by the Canadian Reference Lender and in effect as its prime rate at its principal office in Toronto, Ontario on such day for determining interest rates on Canadian Dollar-denominated commercial loans in Canada, and (b) the annual rate of interest equal to the sum of the one-month CDOR in effect on such day plus 1.0% per annum.

  • Prime Rate means the rate of interest per annum publicly announced from time to time by JPMorgan Chase Bank, N.A. as its prime rate in effect at its principal office in New York City; each change in the Prime Rate shall be effective from and including the date such change is publicly announced as being effective.

  • Adjusted Prime Rate A rate per annum equal to the sum of (a) the Prime Rate Margin and (b) the greater of (i) the Prime Rate or (ii) one percent (1%) in excess of the Federal Funds Effective Rate. Any change in the Adjusted Prime Rate shall be effective immediately from and after such change in the Adjusted Prime Rate.

  • Original Reference Rate means the originally-specified benchmark or screen rate (as applicable) used to determine the Rate of Interest (or any component part thereof) on the Notes.

  • Compounded Daily Reference Rate means, with respect to an Interest Period, the rate of return of a daily compound interest investment in the Specified Currency (with the applicable Reference Rate (as indicated in the relevant Final Terms and further provided for below) as the reference rate for the calculation of interest) and will be calculated by the Calculation Agent on the Interest Determination Date, as follows, and the resulting percentage will be rounded, if necessary, to the fifth decimal place, with 0.000005 being rounded upwards:

  • Reference Rate means the rate specified as such hereon.

  • Adjusted LIBOR Rate means, at any time with respect to any LIBOR Loan, a rate per annum equal to the LIBOR Rate as in effect at such time plus the Applicable Margin Percentage for LIBOR Loans as in effect at such time.

  • SONIA Reference Rate means, in respect of any London Banking Day, a reference rate equal to the daily Sterling Overnight Index Average ("SONIA") rate for such London Banking Day as provided by the administrator of SONIA to authorised distributors and as then published on the Relevant Screen Page (or if the Relevant Screen Page is unavailable, as otherwise is published by such authorised distributors) on the London Banking Day immediately following such London Banking Day; and

  • Hurdle Rate means the minimum annual rate of return over the Net Asset Value at launch, or the beginning of the relevant Performance Period, as applicable, that must be achieved before an Equalisation Performance Fee is applied (details of which are set out in the section headed “Unit Class Information” in the Supplement for the relevant Fund where applicable). This rate is accrued at each Valuation Point.

  • Free Margin means the amount of funds available in the Client Account, which may be used to open a position or maintain an Open Position. Free Margin shall be calculated as: Equity less (minus) Necessary Margin [Free margin = Equity- Necessary Margin].

  • Wage Rate refers to an Employee’s hourly rate of pay reflected by the pay grade of her position and her step within that grade, as set out in the Wage Rate grid in Appendix II.

  • Base Rate Margin has the meaning set forth in the definition of Applicable Margin.

  • Adjusted Base Rate means the Base Rate plus the Applicable Percentage.

  • Applicable Prime Rate Margin shall have the meaning provided in section 2.7(g).

  • Base Rate means, for any day, the rate per annum equal to the higher of (a) the Federal Funds Rate for such day plus one-half of one percent (0.5%) and (b) the Prime Rate for such day. Any change in the Base Rate due to a change in the Prime Rate or the Federal Funds Rate shall be effective on the effective date of such change in the Prime Rate or Federal Funds Rate.

  • U.S. Base Rate means, on any day, the annual rate of interest equal to the greater of (a) the annual rate of interest announced by a commercial Canadian bank selected by the Lender and in effect as its base rate at its principal office in Toronto, Ontario on such day for determining interest rates on Dollar demand commercial loans in Canada, and (b) the sum of the Federal Funds (Effective) Rate plus 0.50% per annum.

  • Adjusted One Month LIBOR Rate means, an interest rate per annum equal to the sum of (i) 1.00% per annum plus (ii) the Adjusted LIBO Rate for a one month Interest Period on such day (or if such day is not a Business Day, the immediately preceding Business Day); provided that, for the avoidance of doubt, the Adjusted LIBO Rate for any day shall be based on the Screen Rate at approximately 11:00 a.m. London time on such day.

  • Applicable LIBOR Rate Margin means the following per annum percentages, applicable in the following situations:

  • CD Base Rate has the meaning set forth in Section 2.07(b).

  • Three-Month LIBOR Rate means the rate determined in accordance with the following provisions:

  • Applicable Reference Rate means with respect to any Loan made in any currency, the rate indicated on Annex II under the heading “Applicable Reference Rate” for such currency.

  • One Month LIBOR Rate means, with respect to any interest rate calculation for a Loan or other Obligation bearing interest at the Alternate Base Rate, a rate per annum equal to the quotient (rounded upward if necessary to the nearest 1/16th of one percent (0.0625%)) of (i) the rate per annum referred to as the BBA (British Bankers Association) LIBOR RATE as reported on Reuters LIBOR page 1, or if not reported by Reuters, as reported by any service selected by Administrative Agent on the applicable day (provided that if such day is not a Eurodollar Banking Day for which a Eurodollar Rate is quoted, the next preceding Eurodollar Banking Day for which a Eurodollar Rate is quoted) at or about 11:00 a.m., London time (or as soon thereafter as practicable), for Dollar deposits being delivered in the London interbank eurodollar currency market for a term of one month commencing on such date of determination, divided by (ii) one minus the Reserve Requirement in effect on such day. If for any reason rates are not available as provided in clause (i) of the preceding sentence, the rate to be used in clause (i) shall be, at Administrative Agent’s discretion (in each case, rounded upward if necessary to the nearest one-sixteenth (1/16) of one percent (0.0625%)), (1) the rate per annum at which Dollar deposits are offered to the Administrative Agent in the London interbank eurodollar currency market or (2) the rate at which Dollar deposits are offered to the Administrative Agent in, or by Xxxxx Fargo to major banks in, any offshore interbank eurodollar market selected by Administrative Agent, in each case on the applicable day (provided that if such day is not a Eurodollar Banking Day for which Dollar deposits are offered to Administrative Agent in the London interbank eurodollar currency market, the next preceding Eurodollar Banking Day for which Dollar deposits are offered to Administrative Agent in the London interbank eurodollar currency market) at or about 11:00 a.m., London time (or as soon thereafter as practicable) (for delivery on such date of determination) for a one month term. Each determination by Administrative Agent pursuant to this definition shall be conclusive absent manifest error.