Life Remaining Sample Clauses

Life Remaining. On the date the Aircraft is returned under the Lease at the expiration of the Basic Term or a Renewal Term in the event Lessor shall have irrevocably exercised its option to sell the Aircraft at such expiration, and shall be simultaneously exercising its rights, pursuant to the Residual Agreement or a Successor Residual Agreement, the Aircraft shall comply with the following additional requirements: (i) The Engines shall have on average a minimum of one-half HSI period remaining in accordance with MRB limits current on the date the Aircraft is returned under the Lease, provided that in the event the Engines do not have an average of at least one-half HSI period remaining in accordance with such MRB limits, an Engine HSI Half-Life Adjustment under clause (c)(i) shall be made in lieu of meeting such condition, provided, however, that in no event shall any Engine have less than one-quarter HSI period remaining in accordance with such MRB limits or have any defects or discrepancies outside of the limits set forth in the Maintenance Planning Document. (ii) Engine life limited parts shall have on average at least half-life remaining to their respective scheduled replacement in accordance with the Engine Manufacturer's published life limited part replacement schedule current on the date the Aircraft is returned under the Lease, provided that in the event the Engine life limited parts do not have an average of at least half-life remaining to their respective scheduled replacement, an Engine life limited part Half-Life Adjustment under clause (c)(ii) shall be made in lieu of meeting such condition, provided, however, that in no event shall any Engine life limited part have less than one-quarter life remaining to its scheduled replacement in accordance with the Engine Manufacturer's published life limited part replacement schedule current on the date the Aircraft is returned under the Lease. (iii) The APU shall have remaining at least half of any applicable HSI period remaining on the date the Aircraft is returned under the Lease in accordance with the then current MRB standards, provided that in the event the APU does not have at least half of any applicable HSI period remaining, an APU Half-Life Adjustment under clause (c)(iii) shall be made in lieu of meeting such condition. (iv) The landing gear shall have at least half-life remaining to the next landing gear overhaul according to MRB requirements current on the date the Aircraft is returned under the Lease, pro...
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Related to Life Remaining

  • Life The City shall pay one hundred percent (100%) of the monthly premium for a $50,000 life insurance policy with accidental death and dismemberment, for each member of the bargaining unit.

  • Employment Period; Remaining Unexpired Employment Period (a) The terms and conditions of this Agreement shall be and remain in effect during the period of employment established under this Section 2 (“Employment Period”). The Employment Period shall be for an initial term of three (3) years beginning on the date of this Agreement and ending on the third anniversary date of this Agreement, plus such extensions, if any, as are provided pursuant to Section 2(b). (b) Beginning on the date of this Agreement, the Employment Period shall automatically be extended for one (1) additional day each day, unless either the Company and the Bank, acting jointly, or the Executive elects not to extend the Agreement further by giving written notice to the other parties, in which case the Employment Period shall end on the third anniversary of the date on which such written notice is given. For all purposes of this Agreement, the term “Remaining Unexpired Employment Period” as of any date shall mean the period beginning on such date and ending on: (i) if a notice of non-extension has been given in accordance with this Section 2(b), the third anniversary of the date on which such notice is given; and (ii) in all other cases, the third anniversary of the date as of which the Remaining Unexpired Employment Period is being determined. Upon termination of the Executive’s employment with the Company and the Bank for any reason whatsoever, any daily extensions provided pursuant to this Section 2(b), if not therefore discontinued, shall automatically cease. (c) Subject to Section 3, nothing in this Agreement shall be deemed to prohibit the Company or the Bank from terminating the Executive’s employment at any time during the Employment Period with or without notice for any reason; provided, however, that the relative rights and obligations of the Company, the Bank and the Executive in the event of any such termination shall be determined under this Agreement.

  • Basic Life If an employee is not actively at work on the initial effective date of coverage, coverage will be effective on the first day of the employee’s return to work. The effective date of a change in coverage is not delayed in the event that, on the date the coverage change would be effective, an employee is on an unpaid leave of absence or layoff.

  • Life Coverage Paragraph 1: The Board shall provide a group term life coverage in the sum of

  • Basic Life Insurance 37.1 The Employer shall pay one hundred percent (100%) of the monthly premium of the basic life insurance plan. 37.2 The basic life insurance plan shall provide: (a) Effective June 1, 2002, coverage equal to one hundred percent (100%) of annual salary or ten thousand dollars ($10,000), whichever is greater; (b) where an employee is continuously disabled for a period exceeding six (6) months, the Employer will continue to pay monthly premiums on behalf of the employee until the earliest of recovery, death, or the end of the month in which the employee reaches age sixty-five (65). Any premiums paid by the employee for this coverage between the date of disability and the date this provision comes into force shall be refunded to the employee; (c) a conversion option for terminating employees to be obtained without evidence of insurability and providing coverage up to the amount for which the employee was insured prior to termination (less the amount of coverage provided by the Employer in the case of retirement). The premium of such policy shall be at the current rates of the insuring company. Application must be made within thirty-one (31) days of the date of termination of insurance. The Employer will advise terminating employees of this conversion privilege. The minimum amount that may be converted is two thousand dollars ($2,000). The conversion options shall be: 1. Any standard life or endowment plans (without disability or double-indemnity benefits) issued by the insurance carrier. 2. A one (1) year term insurance plan which is convertible to the standard life or endowment plans referred to in option 1 above. 3. A term to age sixty-five (65) insurance plan. 37.3 The amount of basic life insurance will be adjusted with changes in the employee’s salary from the date of approval of the increase or the effective date, whichever is later. If an employee is absent from work because of sickness or disability on the date an increase in insurance would have occurred, the increase will not take effect until the employee returns to work on a full-time basis (i.e., for at least one (1) full day). 37.4 Basic life insurance will terminate at the end of the month in which an employee ceases to be a regular employee unless coverage is extended under the total disability provision. Employees who receive a monthly benefit from the Public Service Superannuation Fund or the OPSEU Pension Trust are entitled to free coverage of two thousand dollars ($2,000) not earlier than thirty-one (31) days after the first of the month coinciding with or following date of retirement and this amount will be kept in force for the remainder of the employee’s life.