Continued Accrual Clause Samples

The Continued Accrual clause ensures that certain rights, obligations, or benefits continue to accumulate or remain in effect even after a specific event, such as termination or expiration of an agreement. For example, this clause may allow for the ongoing accrual of interest on outstanding payments or the continued vesting of benefits until all obligations are fully satisfied. Its core practical function is to prevent the unintended loss of accrued rights or benefits due to the ending of a contract, thereby protecting the interests of the parties involved.
Continued Accrual. Continuity of a regular employee’s service will not be broken by absence a. Absence by reason of industrial disability; b. Authorized absence or leave of absence without pay for less than thirty (30) days in a calendar year; c. Applicable state and federal laws shall govern absence due to military or National Guard service.
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Continued Accrual. In the event that you do not provide Informal Earned Income Documentation, monthly payments will continue to accrue each month at the last- calculated amount, subject to annual escalations as provided in Section 8(c). Only by providing updated Informal Earned Income Documentation will these amounts change.
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Continued Accrual. If Student does not provide Monthly Payments, the amounts will continue to accrue each month at the last-calculated Monthly Payment amount. Only by providing updated income documentation to Funder will this amount change.
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Related to Continued Accrual

  • Leave Accrual After the first 30 days of active military service in any one calendar year, employees shall not accrue City-paid vacation, holiday, or sick leave benefits or other forms of paid leave; provided, however, that any public employee on military leave for intermittent training periods shall continue to accrue the same vacation, sick, and holiday leave up to a maximum period of 180 cumulative days per calendar year as if the employee had not been on military leave.

  • Continued Benefits For a 36 month period after the Date of Termination (the "Benefits Period"), the Company shall provide the Executive with group term life, accident, long-term disability, medical, and health insurance coverage and benefits (collectively, "Welfare Benefits") that (a) subject to clause (b) hereof, are substantially similar in all respects to those which the Executive was receiving immediately prior to the Notice of Termination (without giving effect to any reduction in such benefits subsequent to a Change in Control that would constitute Good Reason); provided, however, (b) if a Change in Control involving National City Corporation occurs within 18 months of the date of this Agreement, in lieu of clause (a) hereof for portion of the Benefits Period commencing on and after the January 1 of the calendar year immediately following the calendar year in which the Change in Control occurred, are not less favorable in all respects to those being provided to actively employed senior executives of the Company from time-to-time after such January 1. During the Benefits Period, the Executive shall be entitled to elect to change his level of coverage and/or his choice of coverage options (such as the Executive only or family medical coverage) with respect to the Welfare Benefits to be provided by the Company to the Executive to the same extent that actively employed senior executives of the Company are permitted to make such changes; provided, however, that in the event of any such changes, the Executive shall pay the amount of any cost increase that would actually be paid by an actively employed senior executive of the Company by reason of making the same changes in his level of coverage or coverage options. In the event that the Executive becomes employed by a new employer and is eligible to receive health insurance and/or other welfare benefits ("New Coverage"), the Welfare Benefits coverage provided under this Section 3.2 shall be secondary to such New Coverage.

  • Annual Leave Accrual If an employee leaves State Classified employment and is later rehired, he/she shall accrue annual leave at the same rate as a new hire. However, once a rehired employee has been in pay status for five (5) years, all previous service time shall be credited for annual leave accrual. The only exception shall be for employees rehired who repay severance pay received.

  • Sick Leave Accrual All eligible employees shall accrue sick leave at the rate of four (4) hours per pay period of continuous employment beginning with their date of eligibility. Eligible employees being paid for less than a full eighty (80) hour pay period shall have sick leave accruals pro-rated in accord with the schedule set forth in Appendix D.

  • Continued Service The Indemnitee shall continue to serve at the will of the Company as a Director of the Company so long as he is duly elected and qualified in accordance with the Regulations or until he resigns in writing in accordance with applicable law.