Retroactive Step Clause Samples

The Retroactive Step clause allows certain actions, rights, or obligations to take effect as if they had occurred at an earlier date, prior to the actual execution or agreement. In practice, this means that parties may agree to treat a contract, amendment, or specific provision as having been in force from a date before it was formally signed, such as backdating the effective date of a service or payment obligation. This clause is commonly used to ensure continuity, address administrative delays, or align contractual terms with business realities, ultimately solving the problem of gaps or inconsistencies that could arise from the timing of formal agreements.
Retroactive Step. As soon as practicable after placing them on the appropriate step under para- graph three above, the Board will pay incumbent YIS employees any retroactive step pay due to them between July 1, 2016 and the date of actual step placement within six pay periods after the execu- tion of this agreement.
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Retroactive Step. As soon as practicable after placing them on the appropriate step under para- graph three above, the Board will pay incumbent FECs any retroactive step pay due to them between August 1, 2018 and the date of actual step place- ment within six pay periods after the execution of this agreement. The Board will pay incumbent CSCs any retroactive step pay due to them between July 1, 2019 and the date of actual step placement within six pay periods after the execution of this agreement.
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Retroactive Step. As soon as practicable after placing them on the appropriate step under para- graph three above, the Board will pay incumbent CCS employees any retroactive step pay due to them between February 1, 2018 and the date of actual step placement within six pay periods after the execu- tion of this agreement.
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Retroactive Step. As soon as practicable after placing them on the appropriate step under para- graph three above, the Board will pay incumbent AC employees any retroactive step pay due to them between August 1, 2018 and the date of actual step placement within six pay periods after the execu- tion of this agreement.
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Related to Retroactive Step

  • Code Section 754 Adjustments To the extent an adjustment to the adjusted tax basis of any Partnership asset pursuant to Section 734(b) or 743(b) of the Code is required, pursuant to Treasury Regulation Section 1.704-1(b)(2)(iv)(m), to be taken into account in determining Capital Accounts, the amount of such adjustment to the Capital Accounts shall be treated as an item of gain (if the adjustment increases the basis of the asset) or loss (if the adjustment decreases such basis), and such item of gain or loss shall be specially allocated to the Partners in a manner consistent with the manner in which their Capital Accounts are required to be adjusted pursuant to such Section of the Treasury Regulations.

  • Section 754 Election In the event of a distribution of the Fund's property to a Member or an assignment or other transfer (including by reason of death) of Units of a Member in the Fund, at the request of a Member, the Board, in its sole and absolute discretion, may cause the Fund to elect, pursuant to Section 754 of the Code, or the corresponding provision of subsequent law, to adjust the basis of the Fund's property as provided by Sections 734 and 743 of the Code.

  • Code Section 754 Adjustment To the extent an adjustment to the adjusted tax basis of any Company asset pursuant to Section 734(b) or 743(b) of the Code is required, pursuant to the Allocation Regulations, to be taken into account in determining Capital Accounts, the amount of such adjustment to the Capital Accounts shall be treated as an item of gain (if the adjustment increases the basis of the asset) or loss (if the adjustment decreases such basis), and such item of gain or loss shall be specially allocated to the Members in a manner consistent with the manner in which their Capital Accounts are required to be adjusted pursuant to the Allocation Regulations.

  • Section 754 Adjustments To the extent an adjustment to the adjusted tax basis of any Company asset, pursuant to Code Section 734(b) or Code Section 743(b) is required, pursuant to Regulations Section 1.704-1(b)(2)(iv)(m)(2) or 1.704-1(b)(2)(iv)(m)(4), to be taken into account in determining Capital Accounts as the result of a distribution to a Unit Holder in complete liquidation of such Unit Holder’s interest in the Company, the amount of such adjustment to Capital Accounts shall be treated as an item of gain (if the adjustment increases the basis of the asset) or loss (if the adjustment decreases such basis) and such gain or loss shall be specially allocated to the Unit Holders in accordance with their interests in the Company in the event Regulations Section 1.704-1(b)(2)(iv)(m)(2) applies, or to the Unit Holder to whom such distribution was made in the event Regulations Section 1.704-1(b)(2)(iv)(m)(4) applies.

  • Section 754 Adjustment To the extent an adjustment to the adjusted tax basis of any Partnership asset pursuant to Code Section 734(b) or Code Section 743(b) is required, pursuant to Regulations Section 1.704-1(b)(2)(iv)(m)(2) or Regulations Section 1.704-1(b)(2)(iv)(m)(4), to be taken into account in determining Capital Accounts as the result of a distribution to a Holder in complete liquidation of his interest in the Partnership, the amount of such adjustment to the Capital Accounts shall be treated as an item of gain (if the adjustment increases the basis of the asset) or loss (if the adjustment decreases such basis) and such gain or loss shall be specially allocated to the Holders in accordance with their interests in the Partnership in the event that Regulations Section 1.704-1(b)(2)(iv)(m)(2) applies, or to the Holders to whom such distribution was made in the event that Regulations Section 1.704-1(b)(2)(iv)(m)(4) applies.