Date Credited Clause Samples
The "Date Credited" clause defines the specific date on which a payment, deposit, or other financial transaction is officially recognized as having been received or applied by a party. In practice, this clause clarifies whether the credited date is determined by when funds are received, when they clear, or when they are processed by the recipient’s bank. By establishing a clear rule for when payments are considered effective, the clause helps prevent disputes over late fees, interest calculations, or compliance with payment deadlines.
Date Credited. An employee will be credited on the first day of January of each year for use during that year.
Date Credited. The employee will be credited on the first day of the month after it has been earned.
Date Credited. An employee will be credited on the first day of January of each year for the personal leave for the subsequent year.
Date Credited. An employee will be credited on the employee’s anniversary date for the vacation leave earned in the previous year. An employee shall not accrue vacation leave credits while the employee is on an approved unpaid leave of absence or while the employee is in layoff status and the allowance for the subsequent year will be prorated accordingly.
Date Credited. An employee will be credited with thirty-two hours of personal leave on the first day of January of each year for use during that year.
Date Credited. The anniversary of the employee’s first date of employment shall be used in calculating the entitlement to vacations under this section. An employee will be credited on the first day of January of each year for the vacation leave earned in the previous year.
Date Credited. An employee will be credited on the employee’s anniversary date for the vacation leave earned in the previous year.
Date Credited. Any employee who has completed at least one (1) year of employment with the College as of June 30 of the college fiscal year shall receive access to the appropriate personal leave time effective July 1st. Thus, full-time regular employees with more than one (1) year of service as of June 30th would be allocated three (3) personal days effective July 1st.
Date Credited. All employees will be credited with vacation leave on the January 1st immediately preceding the employee’s anniversary date.