Availability premium Clause Samples

An availability premium clause establishes an additional payment or fee that is owed when a service, asset, or resource is made available beyond standard expectations or requirements. In practice, this clause might apply in contracts for equipment leasing, where the lessee pays a premium if the equipment is kept on standby for immediate use, or in energy supply agreements, where a generator receives extra compensation for being ready to supply power on demand. The core function of this clause is to incentivize and compensate the provider for maintaining readiness or excess capacity, thereby ensuring reliability and flexibility for the recipient.
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Availability premium. The employee who, at the board’s request, accepts to be available outside of his or her regular work schedule shall receive an availability premium equal to one (1) hour of work at the single rate after each complete eight (8) hours of availability. The local parties may agree on the terms and conditions for applying the premium through local adaptations.
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Availability premium. The employee on availability after his regular workday or workweek shall be entitled to a premium equivalent to one (1) hour at a simple rate, for each period of eight (8) hours of availability. The parties may agree by local agreement on the terms and conditions of applying this premium.
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Availability premium. In recognition of the special nature of law enforcement extra duties, 24/7 availability, and unscheduled events, employees will receive a three percent (3%) salary premium.
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Availability premium. The professional required to be available, at the express request of the College, shall receive remuneration of one (1) hour at the hourly rate corresponding to his/her salary scale for each eight (8) hour period he/she is available, paid on a pro rata basis for the time required to be available.
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Related to Availability premium

  • FUNDING AVAILABILITY This Contract is contingent upon the continued availability of funding. If funds become unavailable through the lack of appropriations, legislative or executive budget cuts, amendment of the Appropriations Act, state agency consolidation, or any other disruptions of current appropriations, DFPS will reduce or terminate this Contract.

  • Availability Period The Line of Credit is available between the date of this Agreement and [October 1, 2008,] or such earlier date as the availability may terminate as provided in this Agreement (the "Expiration Date").

  • FUNDS AVAILABILITY POLICY Our policy is to make funds from your cash and check deposits available to you on the first (1st) business day after the day we receive your deposit. Electronic direct deposits will be available on the day we receive the deposit. Once deposited funds are available, you can withdraw the funds in cash and we will use the funds to pay checks that you have written. Funds from any deposits (cash or checks) made at automated teller machines (ATMs) we do not own or operate will not be available until the fifth (5th) business day after the day of your deposit. This rule does not apply at ATMs that we own or operate (proprietary ATMs). All ATMs that we own or operate are identified as our machines. Funds from any deposits (cash or checks) made at proprietary ATMs may not be available until the second (2nd) business day after the day of your deposit. For determining the availability of your deposits, every day is a business day, except Saturdays, Sundays, and federal holidays. If you make a deposit before 6:00 p.m. Pacific Standard Time on a business day that we are open, we will consider that day to be the day of your deposit. However, if you make a deposit after 6:00 p.m. Pacific Standard Time, or on a day we are not open, we will consider that the deposit was made on the next business day we are open. In some cases, we will not make all of the funds that you deposit by check available to you on the first (1st) business day after the day of your deposit. Depending on the type of check that you deposit, funds may not be available until the fifth (5th) business day after the day of your deposit. However, the first $225 of your deposits will be available on the first (1st) business day after the day of your deposit. If we are not going to make all of the funds from your deposit available on the first (1st) business day after the day of your deposit, we will notify you at the time you make your deposit. We will also tell you when the funds will be available. If your deposit is not made directly to one of our employees, or if we decide to take this action after you have left the premises, we will mail you the notice or electronically deliver the notice, if you have agreed to receive notices from us in an electronic format, by the business day after we receive your deposit. If you will need the funds from a deposit immediately, you should ask us when the funds will be available. In addition, funds you deposit by check may be delayed for a longer period under the following circumstances: 1. We believe a check you deposit will not be paid. 2. You deposit checks totaling more than $5,000 on any one day. 3. You redeposit a check that has been returned unpaid. 4. You have overdrawn your account repeatedly in the last six (6) months. 5. There is an emergency, such as failure of communications or computer equipment. We will notify you if we delay your ability to withdraw funds for any of these reasons, and we will tell you when the funds will be available. They will generally be available no later than the seventh (7th) business day after the day of your deposit.

  • Undrawn Availability After giving effect to the initial Advances hereunder, Borrowers shall have Undrawn Availability of at least $10,000,000;

  • Availability Control Personal Data will be protected against accidental or unauthorized destruction or loss.