Contractual Conversion Clause Samples

Contractual Conversion. An employee who has worked in a contractual position for a period at least six months immediately preceding the date of conversion from a contractual position to a regular position shall not serve a probationary period. If the employee has worked in a contractual position for a period of less than six months, the employee shall serve a probationary period that would be, when added to the length of time the employee served in the contractual position, six months.
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Contractual Conversion. Current contractual personnel have the option to apply for open PIN positions and to pursue such openings on a competitive basis. The College may designate a vacant PIN for conversion. Contractual employees will be considered for conversion subject to the following criteria: • Three (3) years or more of consecutive service to the College; Education can be substituted for years of service: o One year of relevant education at the undergraduate level may be substituted for one year of required work experience. In general, when equating education and experience, 2.5 credit hours will be considered to be equivalent to one month of experience • Meets the minimum qualifications; • Has position related experience; o One year of relevant work experience may be substituted for one year of required education • Has a meet standards performance evaluation. If employee did not receive an evaluation, the evaluation will automatically default to meet standards. A contractual employee may be appointed to a PIN only when there are no qualified candidates for the position in the unit. In the event there are multiple eligible candidates within the unit, a five (5) day internal competitive search will be required. The converted permanent position should be essential to operations and the College’s mission. Converted PINs will not be used for peak or seasonal needs which can be met using part-time personnel.
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Contractual Conversion. A University contingent employee who converts to a (regular status) position, (pursuant to USM Policy VII-1.40), covered by the bargaining unit shall be given credit for service in the contingent position for the purpose of establishing annual leave and seniority rights. No contingent employee who converts to a position covered by the bargaining unit shall suffer any loss in pay of the base amount. The base amount in this case is not the base of the pay range or pay grade, but the base amount in the employee’s most recent contract exclusive of any other compensation.
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Contractual Conversion. Contractual employees who convert to regular employees shall accrue leave based upon their initial date of employment as a contractual employee as long as their service is continuous. Contractual employees shall not be credited with leave for the period of time that they were contractual employees.
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Contractual Conversion. ‌ Current contractual personnel have the option to apply for open PIN positions and to pursue such openings on a competitive basis. The College may designate a vacant PIN for conversion. Contractual employees will be considered for conversion subject to the following criteria:
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Contractual Conversion. An internal company practice or reasonable discretionary procedure which allows coverage to exchange or replace from one product to another for which no evidence of insurability is required. Policy – An insurance contract issued by the Ceding Company on an insured that is reinsured under this Agreement Professional Athlete – An individual who is a team member in any of the four major U.S. professional sports – National Football League (NFL), National Basketball Association (NBA), Major League Baseball (MLB) or National Hockey League (NHL). Quota Share Retention – Specified first dollar percentage retention on every policy up to the Maximum Retention Per Life.
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Contractual Conversion. An internal company practice or reasonable discretionary procedure which allows coverage to exchange or replace from one product to another for which no evidence of insurability is required. Policy – An insurance contract issued by the Ceding Company on an insured that is reinsured under this Agreement Professional Athlete – An individual who is a team member in any of the four major U.S. professional sports – National Football League (NFL), National Basketball Association (NBA), Major League Baseball (MLB) or National Hockey League (NHL).
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Related to Contractual Conversion

  • Casual Conversion A casual Employee, who has been engaged by the Employer on a regular and systematic basis for a period in excess of six-weeks, thereafter, will have their contract of employment converted to permanent employment unless otherwise agreed in writing between the parties. Regular and systematic shall be defined as an average of 4 days or more, per week, over 6 weeks. Eligible current employees will be transitioned to full time no later than 6 weeks from the date of approval of this agreement.

  • Contractual Consents The Corporation and/or the Shareholders shall have given all notices to, and obtained all consents, approvals or authorizations of or from, any individual, corporation or other party which may be necessary to permit the consummation of the transactions contemplated hereby (including, without limitation, any consents required under the Contracts).

  • Contractual Settlement Unless the parties agree to the contrary, the Custodian will attend to the settlement of securities transactions in accordance with the Custodian's standard operating procedure, on the basis of either contractual settlement date accounting or actual settlement date accounting. To the extent the Custodian settles certain securities transactions on the basis of contractual settlement date accounting, the Custodian may reverse with back value to the contractual settlement date any entry relating to such contractual settlement if the Custodian reasonably believes that such amount will not be received.

  • Optional Conversion To convert any Conversion Amount into shares of Common Stock on any date (a "Conversion Date"), the Holder shall (A) transmit by email, facsimile (or otherwise deliver), for receipt on or prior to 11:59 p.m., New York, NY Time, on such date, a copy of an executed notice of conversion in the form attached hereto as Exhibit A (the "Conversion Notice") to the Company. On or before the third Business Day following the date of receipt of a Conversion Notice (the "Share Delivery Date"), the Company shall (A) if legends are not required to be placed on certificates of Common Stock pursuant to the then existing provisions of Rule 144 of the Securities Act of 1933 (“Rule 144”) and provided that the Transfer Agent is participating in the Depository Trust Company's ("DTC") Fast Automated Securities Transfer Program, credit such aggregate number of shares of Common Stock to which the Holder shall be entitled to the Holder's or its designee's balance account with DTC through its Deposit Withdrawal Agent Commission system or (B) if the Transfer Agent is not participating in the DTC Fast Automated Securities Transfer Program, issue and deliver to the address as specified in the Conversion Notice, a certificate, registered in the name of the Holder or its designee, for the number of shares of Common Stock to which the Holder shall be entitled which certificates shall not bear any restrictive legends unless required pursuant the Rule 144. If this Note is physically surrendered for conversion and the outstanding Principal of this Note is greater than the Principal portion of the Conversion Amount being converted, then the Company shall, upon request of the Holder, as soon as practicable and in no event later than three (3) Business Days after receipt of this Note and at its own expense, issue and deliver to the holder a new Note representing the outstanding Principal not converted. The Person or Persons entitled to receive the shares of Common Stock issuable upon a conversion of this Note shall be treated for all purposes as the record holder or holders of such shares of Common Stock upon the transmission of a Conversion Notice.

  • Mechanics of Conversion (1) Before any holder of Preferred Shares shall be entitled to convert the same into Ordinary Shares such holder shall surrender the certificate or certificates therefor at the Office and shall give written notice to the Company of the election to convert the same (or any part thereof) and shall state therein the name or names of any nominee for such holder in which the certificate or certificates for shares of Ordinary Shares are to be issued. The Company shall, as soon as practicable thereafter unless such notice states that conversion is to be effective on any later date or when any conditions specified in the notice have been fulfilled in which case conversion shall take effect on such other date or when such conditions have been fulfilled, issue and deliver at such office to such holder of Preferred Shares, or subject to the transfer restrictions contained in these Articles to the nominee or nominees of such holder, a certificate or certificates for the number of shares of Ordinary Shares to which such holder shall be entitled as aforesaid. Such conversion shall be deemed to have been made immediately prior to the close of business on the date of such surrender of the shares of Preferred Shares to be converted, or on any later date or when any conditions specified in the notice have been fulfilled and the person or persons entitled to receive the Ordinary Shares issuable upon such conversion shall be treated for all purposes as the record holder or holders of such Ordinary Shares as of such date. If the conversion is in connection with a QIPO, the conversion may, at the option of any holder tendering Preferred Shares for conversion, be conditioned upon the closing with the underwriter of the sale of securities pursuant to such offering, in which event the person(s) entitled to receive the Ordinary Shares issuable upon such conversion of the Preferred Shares shall not be deemed to have converted such Preferred Shares until immediately prior to the closing of such sale of securities. In the event that the certificate(s) representing the Preferred Shares to be converted as aforesaid are not delivered to the Company, then the Company shall not be obligated to issue any certificate(s) representing the Ordinary Shares issued upon such conversion, unless the holder of such Preferred Shares notifies the Company in writing that such certificate(s) have been lost, stolen or destroyed and executes an agreement satisfactory to the Company to indemnify the Company from any loss incurred by it in connection with such certificates. (2) A conversion of Preferred Shares pursuant to one of the events described in Article 9(a)(2) shall be deemed to have taken place automatically regardless of whether the certificates representing such shares have been tendered to the Company but from and after such conversion any such certificates not tendered to the Company shall be deemed to evidence solely the Ordinary Shares received upon such conversion and the right to receive a certificate for such Ordinary Shares.