Statutory Dry Clause Samples

Statutory Dry docking If the Contractor fails to adhere to the timeline stipulated in clause 2.6 (d & e) of Section VI: Terms of Reference and clause 3 (m) of Section VIII: Annex VII (Running Repair & Maintenance Schedule) or any extended period, the Contractor shall without prejudice to any other right or remedy of the EIC on account of such default, pay compensation (not by way of penalty) at the rate of 0.1% per day on the total value of the charter hire charge of the vessel for the contract period. The maximum LD to be deducted as per the Clause 2.7.1 (a) and 2.7.1 (b) shall be restricted to 10% of the total charter hire charges of the vessel(s) taken by the Contractor on bare boat for thirty-six (36) months or extension thereof.

Related to Statutory Dry

  • Statutory Approvals No declaration, filing or registration with, or notice to or authorization, consent or approval of, any federal, state, local or foreign government, any instrumentality, subdivision, court, administrative agency or commission or authority thereof, or any quasi-governmental or private body exercising any regulatory, taxing, importing or other governmental or quasi-governmental authority or regulatory body (including a stock exchange or other self-regulatory body) or any other authority (each, a "Governmental Authority") is necessary for the execution and delivery of this Agreement by ITI or the consummation by ITI of the transactions contemplated hereby, except for those required under or in relation to (A) state securities or "blue sky" laws (the "Blue Sky Laws"), (B) the Securities Act, (C) the Exchange Act of 1934, as amended (the "Exchange Act"), (D) the DGCL with respect to the filing of the Certificate of Merger, (E) the ITI Stockholders' Consent, and (F) such consents, approvals, order, authorizations, registrations, declarations and filings the failure to obtain, make or give which would reasonably be expected to have, in the aggregate, an ITI Material Adverse Effect (the "ITI Required Statutory Approvals"), it being understood that references in this Agreement to "obtaining" such ITI Required Statutory Approvals shall mean making such declarations, filings or registrations; giving such notice; obtaining such consents or approvals; and having such waiting periods expire as are necessary to avoid a violation of law.

  • STATUTORY HOLIDAYS (a) The following days shall be considered holidays for which full time employees shall receive eight (8) hours' pay for each statutory holiday as listed below, at their regular hourly rate of pay. If said employee works on said holiday, he shall be paid as per Article 29.06: New Year’s Day Labour Day ▇▇▇▇▇ ▇▇▇▇ Day Thanksgiving Day Good Friday Christmas Day Victoria Day Boxing Day Canada Day (b) Employees working on Remembrance Day will be paid in accordance with the Remembrance Day Act or as amended by the Provincial Government. 29.02 All part-time employees shall receive general holiday pay in an amount equal to one-fifth (1/5) of the average weekly hours that were paid to the employee during the four (4) complete calendar weeks immediately prior to the week in which the general holiday occurs. 29.03 In order for an employee to qualify for a statutory holiday they must not have been voluntarily absent from their scheduled workday the day prior to and/or following such holiday. Vacation, leave of absence authorized by the Company and sick leave shall not disqualify an employee from receiving their general holidays as noted above. 29.04 If a statutory holiday occurs during an employee's vacation or scheduled day off, they shall have the opportunity to take an extra day's vacation with pay or an extra day's pay. In the event the employee chooses to take an extra day off with pay, the day off selected shall be subject to Company approval. 29.05 In the event that a security guard works in a location where a statutory holiday occurs which is not recognized in this agreement, and the client closes its business for that day, and the security guard, had that not been the case, would have normally worked on that day, said security guard shall be offered work in another location for the equivalent time that the employee would have worked if such work is available. 29.06 An employee who is required to and does work on a statutory holiday shall be paid at one and one-half (1½) times their rate of pay (plus one and one-half (1½) times the overtime rate if applicable) for all hours worked on a statutory holiday and in addition, shall be paid their regular pay for the statutory holiday if they fall in accordance with the requirements specified in 29.03 above. 29.07 Senior full-time employees will be given an opportunity not to be scheduled to work both Christmas and New Year’s Day, except in the event that there are no employees available or overtime or training costs are to be incurred by the Company to accommodate the change. Requests shall be submitted forty-five (45) days in advance and the Company shall respond within ten (10) days of the request.

  • Statutory Rights Nothing in this Clause 17 shall be construed as restricting the rights of the Executive or the Company under sections 39 to 43 Patents ▇▇▇ ▇▇▇▇.

  • Statutory Authority Connecticut General Statute §§ 10a-104, 10a-108, 4a-52a, and 10a-151b provide the University with authority to enter into contracts in the pursuit of its mission.

  • Annual Leave Loading During a period of annual leave an employee will receive a loading of 17.5 per cent calculated on the employee’s normal hourly rate of pay and the daily fares allowance if applicable. The loading will also apply to proportionate leave on lawful termination.