Time for Receipt of Payroll Warrants Sample Clauses

The 'Time for Receipt of Payroll Warrants' clause establishes the specific timeframe within which employees must receive their payroll payments, typically in the form of checks or direct deposits. This clause may detail the regular paydays, such as biweekly or monthly, and outline procedures for handling holidays or delays in payment processing. Its core practical function is to ensure employees are paid promptly and predictably, thereby promoting financial stability for workers and compliance with labor laws.
Time for Receipt of Payroll Warrants. Employees shall receive payroll warrants on the first Friday following the end of each pay period. When a payday falls on a legal holiday, employees shall receive their payroll warrants on the day preceding the normal payday.
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Related to Time for Receipt of Payroll Warrants

  • Registration of Ordinary Shares Cashless Exercise at Companys Option Registration of the Ordinary Shares. The Company agrees that as soon as practicable, but in no event later than twenty (20) Business Days after the closing of its initial Business Combination, it shall use its commercially reasonable efforts to file with the Commission a registration statement for the registration, under the Securities Act, of the Ordinary Shares issuable upon exercise of the Warrants. The Company shall use its commercially reasonable efforts to cause the same to become effective within sixty (60) Business Days following the closing of its initial Business Combination and to maintain the effectiveness of such registration statement, and a current prospectus relating thereto, until the expiration or redemption of the Warrants in accordance with the provisions of this Agreement. If any such registration statement has not been declared effective by the sixtieth (60th) Business Day following the closing of the Business Combination, holders of the Warrants shall have the right, during the period beginning on the sixty-first (61st) Business Day after the closing of the Business Combination and ending upon such registration statement being declared effective by the Commission, and during any other period when the Company shall fail to have maintained an effective registration statement covering the issuance of the Ordinary Shares issuable upon exercise of the Warrants, to exercise such Warrants on a “cashless basis,” by exchanging the Warrants (in accordance with Section 3(a)(9) of the Securities Act or another exemption) for that number of Ordinary Shares equal to the lesser of (A) the quotient obtained by dividing (x) the product of the number of Ordinary Shares underlying the Warrants, multiplied by the excess of the “Fair Market Value” (as defined below) less the Warrant Price by (y) the Fair Market Value and (B) 0.361. Solely for purposes of this subsection 7.4.1, “