Benefits Only Clause Samples

The "Benefits Only" clause defines that the agreement or provision is intended solely to confer benefits on the specified parties, without granting any additional rights or obligations. In practice, this means that only the parties named in the contract can claim the advantages or protections provided, and no third party can assert a right to enforce the terms. This clause is commonly used to prevent unintended third-party beneficiaries from gaining legal standing, thereby ensuring that the contract's benefits are limited to those directly involved and reducing the risk of external claims.
Benefits Only. 1. As an alternative in A above, after ten (10) years of full-time satisfactory service as a certificated employee in the ▇▇▇▇▇▇ School District and attainment of age 55, a unit member is eligible to apply for the Retirement Benefits only. 2. All applicants for participation in this program are subject to discretionary approval of the Board of Trustees. 3. Personnel participating in this alternative Benefit program will be entitled to all health and welfare benefits for up to five (5) years or until the person is eligible for Medicare, whichever comes first, as though they were regular full-time employees, subject to changes in the collective Bargaining Agreement. If health and welfare benefits only become available to participants at premium rates in excess of those for full-time employees, the District’s contribution to the premium shall not exceed what the District’s contribution would have been had the participant continued in employment with the District and selected the same health and welfare benefits. The participant will be responsible to pay the difference between the District contribution and the balance of the increased premium.
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Benefits Only. Upon the assignment to Lender for security purposes of all of Borrowers’ and HDEM’s right, title and interest in and to the Distribution Agreements, and all other agreements subject to Lender’s security interest hereunder, Lender shall take an assignment only of the benefits of and shall not assume the obligations and liabilities under any such agreement, and Borrowers shall (and hereby agree to) perform or cause to be performed all of Borrowers’ obligations under each such agreement, and Borrowers shall not be released from such obligations by making such assignment.
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Related to Benefits Only

  • Benefits   on In the event of a lay-off of a full-time employee, the Hospital shall pay its share of insured benefits premium up to three (3) months from the end of the month in which the lay-off occurs or until the laid off employee is employed elsewhere, whichever occurs first.

  • Salary Benefits and Bonus Compensation 3.1 BASE SALARY. Effective July 1, 2000, as payment for the services to be rendered by the Employee as provided in Section 1 and subject to the terms and conditions of Section 2, the Employer agrees to pay to the Employee a "Base Salary" at the rate of $180,000 per annum, payable in equal bi-weekly installments. The Base Salary for each calendar year (or proration thereof) beginning January 1, 2001 shall be determined by the Board of Directors of Avocent Corporation upon a recommendation of the Compensation Committee of Avocent Corporation (the "Compensation Committee"), which shall authorize an increase in the Employee's Base Salary in an amount which, at a minimum, shall be equal to the cumulative cost-of-living increment on the Base Salary as reported in the "Consumer Price Index, Huntsville, Alabama, All Items," published by the U.S. Department of Labor (using July 1, 2000, as the base date for computation prorated for any partial year). The Employee's Base Salary shall be reviewed annually by the Board of Directors and the Compensation Committee of Avocent Corporation.

  • Group Benefits To determine if a leave under the provisions of the Family and Medical Leave Act will be a paid or unpaid leave, contact the District’s Human Resources Department.

  • Benefits; Vacation Employee shall be eligible to receive all benefits as are available to similarly situated employees of Employer generally, and any other benefits that Employer may, in its sole discretion, elect to grant to Employee from time to time. In addition, Employee shall be entitled to four (4) weeks paid vacation per year, which shall be pro-rated for the first partial year of employment and shall accrue in accordance with Employer’s policies applicable to similarly situated employees of Employer.

  • Benefits on Layoff In the event of a lay-off of a full-time employee the Hospital shall pay its share of insured benefits premium up to three (3) months from the end of the month in which the lay-off occurs or until the laid off employee is employed elsewhere, whichever occurs first.