Base Rate Changes Clause Samples

The Base Rate Changes clause defines how adjustments to a reference interest rate, known as the base rate, are handled within an agreement. Typically, this clause outlines the circumstances under which the base rate may be modified, such as changes in central bank rates or the discontinuation of a benchmark rate, and specifies the process for notifying parties and implementing the new rate. Its core practical function is to ensure that the contract remains fair and operational even if the underlying base rate changes, thereby managing the risk of interest rate fluctuations and maintaining clarity for all parties involved.
Base Rate Changes. (a) Seniority Progression Increases. On the Friday immediately 35 preceding their six (6)-month anniversary of the date of hire or date of 36 the last seniority progression increase, employees below the rate range 37 maximum for their labor grade shall, subject to such maximum, receive 38 a seniority progression increase to their base rate of fifty (50) cents. 39 Employees shall automatically progress to the base rate range 40 maximum upon their twelfth (12th) seniority progression increase. 41 Employees on approved leave of absence will continue to accrue time 1 toward their next six (6)-month progression increase for the first ninety 2 (90) days of the leave. Employees recalled from layoff within one (1) 3 year will be credited with any time they had prior to their layoff toward 4 their next six (6)-month progression increase. 5 6.3(b) General Wage Increases. General wage increases will be 6 granted as follows:
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Base Rate Changes. Seniority Progression Increases. On the Monday immediately preceding their six (6) 32 month anniversary of the date of hire or date of the last seniority progression increase, employees 33 below the rate range maximum for their job classification shall, subject to such maximum, 1 receive a seniority progression increase to their base rate of sixty-five cents ($0.65). Employees 2 on approved leave of absence will continue to accrue time toward their next six (6) month 3 progression increase for the first ninety (90) days of the leave. Employees, recalled from layoff 4 will be credited with any time they had prior to their layoff toward their next six (6) month 5 progression increase. 6 7 No more than fourteen (14) seniority progression increase steps shall be required before an 8 employee is advanced to the top of the wage range. 9
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Base Rate Changes. The base rate per unit is subject to annual review and amendment by County based on any actual increases or decreases in County's cost of chemicals, labor or electricity directly used to provide service pursuant to this Agreement, while maintaining a markup over cost not to exceed $0.10 per Unit. The surcharge for quantities of potable water in excess of the first 2,941 Units or for the use of water from the County's water rights shall not exceed 16% over the newly established base rate. County shall provide to Redwood ▇▇▇▇ thirty days' advance notice of any proposed increases.
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Base Rate Changes. (a) Seniority Progression Increases. On the Friday immediately 32 preceding their six (6)-month anniversary of the date of hire or date of 33 the last seniority progression increase, employees below the rate range 34 maximum for their labor grade shall, subject to such maximum, receive 35 a seniority progression increase to their base rate of fifty (50) cents. 36 Employees shall automatically progress to the base rate range 37 maximum upon their twelfth (12th) seniority progression increase. 38 Seniority progression increases shall accumulate towards the 39 progression to maximum rate, irrespective of the labor grade or job 1 classification in which seniority progression was earned. Employees on 2 approved leave of absence will continue to accrue time toward their next 3 six (6)-month progression increase for the first ninety (90) days of the 4 leave. Employees recalled from layoff within one (1) year will be 5 credited with any time they had prior to their layoff toward their next 6 six (6)-month progression increase.
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Base Rate Changes base rates for Tier I and Tier II employees will be set quarterly based on the employee’s results in the preceding quarter, using the following point system, and will remain at the set rate for a period of three (3) months. See Tables below: Unsatisfactory 0 Point Threshold 1 Point Standard 2 Points Premier 3 Points Gold Level 7 – 9 Points Silver Level 4 – 6 Points Base Level 0 – 3 Points Standard (2) Premier (3) Premier (3) Gold (8) Standard (2) Standard (2) Threshold (1) Silver (5) Threshold (1) Premier (3) Premier (3) Gold (7) Threshold (1) Standard (2) Premier (3) Silver (6) Unsatisfactory (0) Standard (2) Standard (2) Silver (4) Unsatisfactory (0) Unsatisfactory (0) Premier (3) Base (3) Threshold (1) Unsatisfactory (0) Standard (2) Base (3) Unsatisfactory (0) Standard (2) Premier (3) Silver (5)
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Base Rate Changes 
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Related to Base Rate Changes

  • Base Rate The higher of (a) the annual rate of interest announced from time to time by BKB at its head office in Boston, Massachusetts, as its "base rate" and (b) one-half of one percent (1/2%) above the Federal Funds Effective Rate. For the purposes of this definition, "Federal Funds Effective Rate" shall mean for any day, the rate per annum equal to the weighted average of the rates on overnight federal funds transactions with members of the Federal Reserve System arranged by federal funds brokers, as published for such day (or, if such day is not a Business Day, for the next preceding Business Day) by the Federal Reserve Bank of New York, or, if such rate is not so published for any day that is a Business Day, the average of the quotations for such day on such transactions received by the Agent from three funds brokers of recognized standing selected by the Agent.

  • Base Rates Attached to and made a part of this Agreement is Appendix A which sets forth the straight-time hourly rates for all employees covered by this Agreement.