Guarantee of Crew Value Sample Clauses

The Guarantee of Crew Value clause establishes a contractual assurance regarding the quality, qualifications, or performance of the crew provided for a project or service. Typically, this clause requires the party supplying the crew to ensure that all personnel meet specified standards, such as certifications, experience levels, or fitness for duty, and may obligate them to replace any crew members who do not meet these criteria. Its core practical function is to protect the hiring party from substandard staffing, thereby reducing operational risks and ensuring that the project or service is carried out by competent personnel.
Guarantee of Crew Value. The value of crews, known as Special Crews, having a platform time of five and one-half hours or more shall be eight hours total time at the basic rate including all allowances (except spread allowance). The value of present crews of seven hours and 30 minutes or more shall continue to be a minimum of eight hours plus 15 minutes’ Reporting and Signing-in Allowance. One-piece specials of between five hours, 20 minutes and seven hours, 29 minutes that are left over by the schedule print-out will be signed on as a one-piece special and paid eight hours. These one- piece specials do not alter the practice of scheduling two-piece crews with one of the pieces having a platform time of between five hours, 20 minutes and seven hours, 29 minutes. If a one-piece special comes open the Operator filling it will be paid on the same basis as an uncrewed piece of work. ▇▇▇▇▇ assigned portions of work of less than two hours’ duration shall be paid a minimum of two hours for such work. Operators working on Compressed Work Week Crews will be guaranteed 40 hours of pay time per week including Sunday Premiums if applicable.
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Guarantee of Crew Value. The value of crews, known as Special Crews, having a platform time of five and one-half hours or more shall be eight hours total time at the basic rate including all allowances (except spread allowance). The value of present crews of seven hours and 30 minutes or more shall continue to be a minimum of eight hours plus 15 minutes’ Re- porting and Signing-in Allowance. One-piece specials of between five hours, 20 minutes and seven hours, 29 minutes that are left over by the schedule print-out will be signed on as a one-piece special and paid eight hours. These one- piece specials do not alter the practice of scheduling two-piece crews with one of the pieces having a platform time of between five hours, 20 minutes and seven hours, 29 minutes. If a one-piece special comes open the Operator filling it will be paid on the same basis as an uncrewed piece of work. Crews assigned portions of work of less than two hours’ duration shall be paid a minimum of two hours for such work. Operators working on Compressed Work Week Crews will be guar- anteed 40 hours of pay time per week including Sunday Premiums if applicable. — Time worked in excess of 12-hour spread — an allowance of full time for a total of double time will be paid. — Time worked in excess of 10-1/2-hour spread — an allowance of half-time for a total of one and one-half time will be paid. — Time worked in excess of 12-hour spread — an allowance of full time for a total of double time will be paid.
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Related to Guarantee of Crew Value

  • Guarantee of Obligations (a) Each Guarantor hereby (i) guarantees, as principal obligor and not as surety only, to the Banks the prompt payment of the principal of and any and all accrued and unpaid interest (including interest which otherwise may cease to accrue by operation of any insolvency law, rule, regulation or interpretation thereof) on the Advances and all other obligations of each Borrower to the Banks and the Agent under this Agreement when due, whether by scheduled maturity, acceleration or otherwise, all in accordance with the terms of this Agreement and the Notes, including, without limitation, default interest, indemnification payments and all reasonable costs and expenses incurred by the Banks and the Agent in connection with enforcing any obligations of the Borrowers hereunder, including without limitation the reasonable fees and disbursements of counsel, (ii) guarantees the prompt and punctual performance and observance of each and every term, covenant or agreement contained in this Agreement and the Notes to be performed or observed on the part of each Borrower, (iii) guarantees the prompt and complete payment of all obligations and performance of all covenants of any Borrower under any interest rate or currency swap agreements or similar transactions with any Bank, and (iv) agrees to make prompt payment, on demand, of any and all reasonable costs and expenses incurred by the Banks or the Agent in connection with enforcing the obligations of the Guarantor hereunder, including, without limitation, the reasonable fees and disbursements of counsel (all of the foregoing being collectively referred to as the "Guaranteed Obligations"). (b) If for any reason any duty, agreement or obligation of any Borrower contained in this Agreement shall not be performed or observed by any Borrower as provided therein, or if any amount payable under or in connection with this Agreement shall not be paid in full when the same becomes due and payable, each Guarantor undertakes to perform or cause to be performed promptly each of such duties, agreements and obligations and to pay forthwith each such amount to the Agent for the account of the Banks regardless of any defense or setoff or counterclaim which any Borrower may have or assert, and regardless of any other condition or contingency.

  • Guarantee of Payment This Guarantee Agreement creates a guarantee of payment and not of collection. This Guarantee Agreement will not be discharged except by payment of the Guarantee Payments in full (without duplication of amounts theretofore paid by the Issuer) or upon distribution of Debentures to Holders as provided in the Trust Agreement.

  • Guarantee of Payment; Continuing Guarantee The guarantee in this Article IV is a guaranty of payment and not of collection, is a continuing guarantee, and shall apply to all Obligations whenever arising.

  • Subsidiary Indebtedness The Borrower will not permit any Domestic Subsidiary that is not an Obligor to create, incur, assume or permit to exist any Indebtedness, except: (a) obligations under the Loan Documents; (b) any other Indebtedness existing on the Effective Date and described in Schedule 7.01 (and any Indebtedness that may be incurred after the Effective Date under commitments to extend such Indebtedness available on the Effective Date and so described), and Indebtedness the proceeds of which are used solely to refinance such Indebtedness; (c) Indebtedness referred to in, and secured by Liens permitted under, Section 7.02(e); (d) Indebtedness referred to in, and secured by Liens permitted under, Sections 7.02(c) and 7.02(d); (e) Indebtedness in respect of (i) documentary letters of credit and trade letters of credit incurred in the ordinary course of business and (ii) trade bank acceptance drafts incurred in the ordinary course of business; (f) current liabilities, other than for borrowed money, incurred in the ordinary course of business; (g) Indebtedness of any Subsidiary owing to the Borrower or any other Subsidiary; (h) Indebtedness arising from Domestic Securitization Transactions permitted by Section 7.02(k), provided that the aggregate amount of such Indebtedness shall not exceed $300,000,000 at any time outstanding; and (i) other Indebtedness, provided that, as of the Effective Date and as of the time any Indebtedness is created, incurred or assumed in reliance on this clause (i), the aggregate principal amount of all Indebtedness outstanding in reliance on this clause (i) (together with the aggregate principal amount of any such Indebtedness to be created, incurred or assumed in reliance on this clause (i)) does not exceed the greater of (i) $250,000,000 and (ii) 5.0% of Tangible Net Worth as of the Effective Date or as of the date such Indebtedness is created, incurred or assumed, as applicable.

  • Security and Financial Indebtedness (a) No Security or Quasi-Security exists over all or any of the present or future assets of any member of the Group other than as permitted by this Agreement. (b) No member of the Group has any Financial Indebtedness outstanding other than as permitted by this Agreement.