NO REDUCTION IN RATES Sample Clauses

The "No Reduction in Rates" clause establishes that the agreed-upon rates for goods or services under a contract cannot be decreased during the contract term. In practice, this means that the supplier or service provider is guaranteed to receive the originally negotiated rates, regardless of market fluctuations or changes in circumstances. This clause protects the provider from unilateral rate reductions by the client, ensuring revenue stability and predictability throughout the agreement.
NO REDUCTION IN RATES. No employee shall suffer any reduction in hourly rates or general working conditions by reason of the signing of this Agreement. No employee receiving hourly rates in excess of the rates herein shall be replaced by another employee at a lesser hourly rate for the purpose of avoiding any of the provisions of this Agreement.
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NO REDUCTION IN RATES. It is further agreed that no employee shall suffer any reduction in hourly rates by reason of signing pf this Agreement. No employee receiving hourly rates in excess of the rates herein shall be replaced by another employee at a lesser hourly rate for the purpose of avoiding any of the provisions of this Agreement. Provided, however, that if an employee receiving higher hour­ ly rates than provided in this Agreement subsequently quits or is terminated, and is later rehired, such employee shall be rehired at the then prevailing rate under the terms of this Agreement. In the event, however, any employee desires to be re­ classified into a classification whose rate of pay is less than he is receiving, such reclassification may be made with the con­ sent of the Employer, notwithstanding any of the foregoing provisions of this para­ graph. Special rates of pay may be arranged for superannuated or partially disabled employees by agreement between the Un­ ion, the Employer and the employee in­ volved.
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NO REDUCTION IN RATES. No employee being paid at a straight time hourly wage rate in excess of the rates herein shall be replaced by another employee at a lesser rate for the purpose of avoiding any of the provisions of this Agreement, nor shall any employee suffer any reduction in his present straight-time hourly wage rate by reason of the signing of this Agreement; provided, however, that if an employee is paid at a higher rate than the contract rate and voluntarily quits or is discharged or laid off, in accordance with Article IV or V, respectively, the Employer is not obligated to pay any replacement of such employee at a rate higher than the contract rate.
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Related to NO REDUCTION IN RATES

  • Termination or Reduction of Commitments The Borrower may, upon notice to the Administrative Agent, terminate the Aggregate Commitments, or from time to time permanently reduce the Aggregate Commitments; provided that (i) any such notice shall be received by the Administrative Agent not later than 11:00 a.m. five Business Days prior to the date of termination or reduction, (ii) any such partial reduction shall be in an aggregate amount of $10,000,000 or any whole multiple of $1,000,000 in excess thereof, (iii) the Borrower shall not terminate or reduce the Aggregate Commitments if, after giving effect thereto and to any concurrent prepayments hereunder, the Total Outstandings would exceed the Aggregate Commitments, and (iv) if, after giving effect to any reduction of the Aggregate Commitments, the Letter of Credit Sublimit or the Swing Line Sublimit exceeds the amount of the Aggregate Commitments, such Sublimit shall be automatically reduced by the amount of such excess. The Administrative Agent will promptly notify the Lenders of any such notice of termination or reduction of the Aggregate Commitments. Any reduction of the Aggregate Commitments shall be applied to the Commitment of each Lender according to its Applicable Percentage. All fees accrued until the effective date of any termination of the Aggregate Commitments shall be paid on the effective date of such termination.