Trainee Rate Clause Samples

The Trainee Rate clause defines the specific billing rate or compensation applicable to trainees working under a contract or agreement. Typically, this clause outlines that individuals classified as trainees will be paid at a lower rate than fully qualified personnel, and it may specify the duration or conditions under which the trainee rate applies. Its core practical function is to ensure clarity and fairness in compensation by distinguishing between the pay rates for trainees and other staff, thereby preventing disputes over payment expectations and aligning costs with experience levels.
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Trainee Rate. The parties agree to a training rate of $12.00/hr. plus vacation pay for new drivers for five (5) working days which may be lengthened or shortened at the discretion of the Company. At the completion of the training period, the new driver will be paid the start rate of pay as well as all other Collective Agreement entitlements. It is understood and agreed that a trainee driver will not displace a regular driver, including a regular driver on layoff.
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Trainee Rate. The hiring rate for Correction Officer Trainees, (Cadets) shall be ten (10%) percent below Step 1 of the salary grade for Correction Officer. In the first full pay period following completion of the tenth week of the initial probationary period such ▇▇▇▇▇▇▇’s salary will be adjusted to Step 1 of the salary grade for Correction Officer.
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Trainee Rate. 8 9 New employees shall be hired at a Trainee rate which shall be 6% less than the Step 10 One Salary for that position. Upon reaching the first eligibility date for an increment the 11 employee shall be raised to the first step.
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Related to Trainee Rate

  • Servicing Fee Rate The rate used to calculate the Servicing Fee is equal to such rate as is set forth on the Mortgage Loan Schedule with respect to a Mortgage Loan.

  • Master Servicing Fee Rate The rate used to calculate the Master Servicing Fee for each Mortgage Loan is 0.017% per annum.

  • Applicable Margin On the Third Amendment Effective Date and thereafter, the Applicable Margin with respect to the Term Loan D Loans shall be for Base Rate Advances, 1.50%, and for LIBOR Advances, 2.50%. The Applicable Margin with respect to the Term Loan D Loans shall be subject to reduction or increase, as applicable, and as set forth in the tables below, based upon the Borrower Leverage Ratio and the Senior Leverage Ratio set forth on a pro forma basis in any Request for Advance and as reflected in the financial statements required to be delivered for the fiscal quarter most recently ended pursuant to Section 6.1 or Section 6.2 hereof; provided that the Applicable Margins set forth in the tables below shall be increased by 25 bps at any time when the Senior Leverage Ratio is greater than 2.5 to 1.0. The adjustment provided for in this Section 2.3(f)(ii) shall be effective (A) with respect to an increase of the Applicable Margin, as of the second (2nd) Business Day after the earliest of (1) with respect to Base Rate Advances, the day on which any Request for Advance is delivered, (2) with respect to LIBOR Advances, the day on which the requested Advance is made or (3) the day on which financial statements are required to be delivered to the Administrative Agent pursuant to Sections 6.1 and 6.2 hereof, as the case may be, and (B) with respect to a decrease in the Applicable Margin, as of the second (2nd) Business Day after the earliest of (1) with respect to Base Rate Advances, the day on which any Request for Advance is delivered, (2) with respect to LIBOR Advances, the day on which the requested Advance is made or (3) except with respect to Interest Periods ending (or other payments of interest occurring) before the date that such financial statements are actually delivered to the Administrative Agent, the day on which such financial statements are required to be delivered to the Administrative Agent pursuant to Section 6.1 or 6.2 hereof. Notwithstanding the foregoing, if the Borrower shall fail to deliver financial statements within forty-five (45) days after the end of any of the first three fiscal quarters of the Borrower’s fiscal year (or within ninety (90) days after the end of the last fiscal quarter of the Borrower’s fiscal year), as required by Sections 6.1 or 6.2 hereof, it shall be conclusively presumed that the Applicable Margin is based upon a Borrower Leverage Ratio equal to the highest level set forth in the table below and a Senior Leverage Ratio greater than 2.5 to 1.0 for the period from and including the forty-sixth (46th) day (or ninety-first (91st) day, in the case of the last quarter) after the end of such fiscal quarter, as the case may be, to the Business Day following the delivery by the Borrower to the Administrative Agent of such financial statements: Greater than 4.00 to 1.00 1.50% 2.50% Less than or equal to 4.00 to 1.00 1.25% 2.25%

  • Wage Rate The hourly rates for full-time junior and adult apprentices as set out in this agreement shall apply to school based apprentices except that the school based apprentice for pay purposes will be paid a further 25% of hours to the actual hours worked for off the job training.

  • Annual Percentage Rate Each Receivable has an APR of not more than 25.00%.