Reduction in Hours (a) Reduction in hours shall be based on seniority, providing that affected employees have the qualifications to perform the work that is available and that licensing standards can be maintained. (b) Any regular employee offered a reduction of hours shall have the right to choose layoff as per Article 13.3. (c) Any regular employee offered a reduction of hours shall be given two (2) weeks’ notice of the reduction.
Reduction of Servicing Compensation in Connection with Prepayment Interest Shortfalls In the event that any Mortgage Loan is the subject of a Prepayment Interest Shortfall, the Servicer shall, from amounts in respect of the Servicing Fee for such Distribution Date, deposit into the Collection Account, as a reduction of the Servicing Fee for such Distribution Date, no later than the Servicer Remittance Date immediately preceding such Distribution Date, an amount up to the Prepayment Interest Shortfall; provided that the amount so deposited shall not exceed the Compensating Interest for such Distribution Date. In case of such deposit, the Servicer shall not be entitled to any recovery or reimbursement from the Depositor, the Trustee, the Issuing Entity or the Certificateholders. With respect to any Distribution Date, to the extent that the Prepayment Interest Shortfall exceeds Compensating Interest (such excess, a "Non-Supported Interest Shortfall"), such Non-Supported Interest Shortfall shall reduce the Current Interest with respect to each Class of Certificates, pro rata based upon the amount of interest each such Class would otherwise be entitled to receive on such Distribution Date. Notwithstanding the foregoing, there shall be no reduction of the Servicing Fee in connection with Prepayment Interest Shortfalls related to the Relief Act or bankruptcy proceedings and the Servicer shall not be obligated to pay Compensating Interest with respect to Prepayment Interest Shortfalls related to the Relief Act or bankruptcy proceedings.
REDUCTION IN STAFF A. If the Board shall determine that it is necessary to decrease the number of tenured faculty employed by the Board or to discontinue or reduce some particular type of teaching service or program, written notice of honorable dismissal and the reason for dismissal shall be given to all affected faculty members and the Union by personal service or by certified mail, and as required by law. In such instances, the Board shall first terminate non-tenured faculty members who are in the affected areas(s) prior to terminating any tenured faculty so involved. If feasible, prior to the Board taking action to honorably dismiss a tenured faculty member, the appropriate Vice President or designee and ▇▇▇▇ shall meet with the affected faculty member and his/her Union representative to provide notice of the recommended reduction action. B. If tenured faculty must be affected, all such honorable dismissals shall be in inverse order to the number of years of continuous full-time service to the College as a faculty member. A list called the “Seniority List for Reduction in Staff” shall be compiled and posted annually on the Intranet by February 1 of each year by the administration. Such list shall show the number of years of continuous service for each tenured faculty position by academic discipline and the rank of each tenured faculty member. The use of the “Seniority List for Reduction in Staff” shall be strictly limited in that it shall only be appropriate and applicable to matters pertaining to reduction in staff. Periods of leaves of absence shall not be deemed to interrupt continuous service, but any period of leave for which advancement on the salary schedule is not granted shall not be included in the years of service. Tenured faculty members on leave of absence at the time a reduction of staff is effectuated shall be treated no differently than other faculty members. If the number of years of service are the same, the selecting of the tenured faculty member(s) to be affected shall be within the discretion of the Board. Should a faculty member desire to be listed as qualified to teach in a discipline/department outside of his/her primary discipline for purposes of the annual “Seniority List for Reduction in Staff”, he/she shall submit a written request as set forth in Article 39 of this Agreement by November 1 of each academic year to the appropriate division ▇▇▇▇. The division ▇▇▇▇ has thirty (30) calendar days from receipt of the faculty member’s request to determine whether the faculty member meets the minimum qualifications for placement on the “Seniority List for Reduction in Staff” and to notify the faculty member accordingly. If the division ▇▇▇▇ denies the faculty member’s request, a reason shall be provided to the faculty member in writing. The faculty member has ten (10) calendar days to request review of the denial by the Vice President for Educational Affairs, who will make the College’s final determination as described in Article 39 of the Agreement. The final determination shall be issued within ten (10) calendar days from receipt of the faculty member’s request. If deemed qualified for another academic discipline/department, the faculty member’s placement will be effective with the College’s next posting of the “Seniority List for Reduction in Staff”. If a reduction in staff is deemed necessary, the College will rely upon the most current “Seniority List for Reduction in Staff” for purposes of determining a faculty member’s qualifications to teach at the time the reduction is effectuated. The timelines included herein may be extended by mutual agreement of the Union and the College. C. Tenured faculty members in an affected teaching service or program shall not be released if part-time and/or overload assignments in the affected area are being maintained which would constitute a full-time load for which the released faculty member is fully qualified to teach and which can be reasonably scheduled. If the Board shall determine to restore an affected teaching service or program which necessitates an increase in full-time faculty (i.e., when course offerings, enrollments, or student needs for at least one academic year are sufficient in the affected area so as to justify the employment of a full-time faculty member) or to restore individual faculty positions in any affected area, prior to the beginning of the third academic year following the year the faculty member(s) was honorably dismissed, the Union shall be notified. Such added position(s) shall be first offered to qualified faculty member(s) released in inverse-order to the order of honorable dismissal. Such offer shall be sent by certified mail to the faculty member's last known mailing address. If the notified faculty member(s) accepts the restored position(s), there will be no loss in tenure status. If the faculty member does not respond affirmatively by certified mail within ten (10) calendar days of receipt of such offer of reemployment, the Board's obligations hereunder shall be terminated. D. In situations where a faculty member is hired in one department and subsequently moved or deemed qualified to teach in another department, the faculty member will be listed in both departments provided they are qualified to teach pursuant to Article 39.
Reduction of Compensation If the Firm fails to meet the submission date by less than thirty days for the draft report and/or working papers submitted to the Office of the State Auditor for review and approval or by less than thirty days from the completion date for the final reports and/or corrections to the working papers prescribed herein, the District may, with the consent of the Office of the State Auditor, reduce the agreed compensation by an amount not to exceed ten percent of the total contract price for the applicable fiscal year. If reports and/or corrections to the working papers are overdue by 30 days or more, the District may reduce, with the consent of the Office of the State Auditor, the agreed compensation by an amount not to exceed twenty percent of the total contract price for the Rev. 10/20 applicable fiscal year.
Increased Costs and Reduction of Return (a) If any Lender determines that due to any Change in Law occurring after the later of the Agreement Date or the date such Lender became a party to this Agreement, there shall be any increase in the cost (including Taxes) to such Lender of agreeing to make or making, funding, continuing, converting to or maintaining any SOFR Rate Loans (other than any increase in cost resulting from (i) Indemnified Taxes, (ii) Taxes described in clauses (b) through (d) of the definition of “Excluded Taxes”, or (iii) Connection Income Taxes), then, subject to clause (c) of this Section 5.3, the Borrower shall be liable for, and shall from time to time, upon demand (with a copy of such demand to be sent to the Agent), pay to the Agent for the account of such Lender, additional amounts as are sufficient to compensate such Lender for such increased costs. (b) If any Lender shall have determined that due to any Change in Law in respect of any Capital Adequacy Regulation occurring after the later of the Agreement Date or the date such Lender became a party to this Agreement that affects or would affect the amount of capital or liquidity required or expected to be maintained by such Lender or any corporation or other entity controlling such Lender and such Lender (taking into consideration such Lender’s or such corporation’s or other entity’s policies with respect to capital adequacy and such Lender’s desired return on capital) determines that the amount of such capital or liquidity is required to be increased as a consequence of its Term Loan Commitments, loans, credits or obligations under this Agreement, then, upon demand of such Lender to the Borrower through the Agent, subject to clause (c) of this Section 5.3, the Borrower shall pay to such Lender, from time to time as specified by such Lender, additional amounts sufficient to compensate such Lender for such increase. (c) Failure or delay on the part of any Lender to demand compensation pursuant to the foregoing provisions of this Section 5.3 shall not constitute a waiver of such Lender’s right to demand such compensation, provided that the Borrower shall not be required to compensate a Lender pursuant to the foregoing provisions of this Section 5.3 for any increased costs incurred or reductions suffered more than 90 days prior to the date that such Lender notifies the Borrower of the event giving rise to such increased costs or reductions and of such Lender’s intention to claim compensation therefor (except that, if the event giving rise to such increased costs or reductions is retroactive, then the 90 day period referred to above shall be extended to include the period of retroactive effect thereof). Notwithstanding any other provision herein, no Lender shall demand compensation pursuant to this Section 5.3 if it shall not at the time be the general policy or practice of such Lender to demand such compensation in similar circumstances for similarly situated borrowers under comparable provisions of other credit agreements, if any.