Non-Accrual Clause Samples

The Non-Accrual clause establishes that certain amounts, such as interest or fees, will not continue to accumulate or be added after a specified event or condition occurs. In practice, this often applies when a loan is in default or a payment is overdue, at which point the lender stops recording additional interest income on the outstanding balance. The core function of this clause is to clarify when accruals cease, thereby preventing disputes over additional charges and ensuring both parties understand their financial obligations in the event of non-payment or default.
Non-Accrual. Members on leave without pay for any reason, except injuries on the job, shall not accrue vacation benefits.
Non-Accrual. Employees on leave without pay for any reason for more than two weeks shall not accrue sick leave benefits.
Non-Accrual. An employee on leave without pay for more than two (2) consecutive weeks in any calendar month for any reason shall not accrue vacation benefits.
Non-Accrual. Sick leave shall not accrue during any period of suspension without pay, the duration of which exceeds fifteen (15) days.
Non-Accrual. An employee on leave without pay for any reason for more than two
Non-Accrual. Employees on leaves of absence without pay, or on layoff, shall not accrue sick leave during such period.
Non-Accrual. Employees on leave without pay for any reason for ten (10) days shall not accrue vacation benefits.
Non-Accrual. If no sick time is accrued then sick days will be unpaid.
Non-Accrual. No annual leave, sick leave, holidays or any type of seniority will be earned by an employee for the time that they are on an authorized leave of absence without pay.
Non-Accrual. Employees will not earn vacation credits while on leave of absence for any purpose, on suspension, quit, discharge, strike, lockout, or on lay-off.