Transfer of Accruals Clause Samples

The Transfer of Accruals clause governs how accrued rights, obligations, or benefits—such as interest, rent, or other periodic entitlements—are handled when an asset or contract is transferred from one party to another. In practice, this clause specifies whether the seller or the buyer is entitled to receive or responsible for paying amounts that have accumulated but are not yet due at the time of transfer. For example, if a property is sold partway through a rental period, the clause will determine how the rent accrued up to the sale date is divided. Its core function is to ensure a fair and transparent allocation of accrued amounts, preventing disputes over entitlements or liabilities that arise from the timing of the transfer.
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Transfer of Accruals. An employee shall have all of his/her accrued sick leave credits transferred when the employee is transferred to a different state Agency.
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Transfer of Accruals. If an employee transfers from one University covered by this Agreement to another University covered by this Agreement, PERS and the new University’s policy on transfer of accrued sick leave shall govern the number of hours transferred.
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Transfer of Accruals. As soon as practicable following the Distribution, KAR shall transfer to SpinCo the applicable KAR Benefit Plan accruals in respect of SpinCo Group Employees and Former SpinCo Group Employees for the portion of the 2019 performance period that occurs prior to the Distribution, based on the level of accrual as of the Effective Time.
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Transfer of Accruals. When an employee is promoted, transferred, demoted, 30 appointed, or otherwise moves to another department or classification within the 1 County, the employee’s accumulated vacation leave balances shall be transferred with 2 the employee to the gaining department / classification. 1 ARTICLE 8
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Transfer of Accruals. 19 When an employee is promoted, transferred, demoted, appointed, or otherwise 20 moves to another department or classification within the County, the employee’s 21 accumulated sick leave balances shall be transferred with the employee to the gaining 22 department / classification.
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Transfer of Accruals. As soon as practicable following the Distribution, AWI shall transfer to AFI the AWI Non-Equity Incentive Plan accruals in respect of AFI Group Employees and Former AFI Group Employees for the portion of the 2016 performance period that occurs prior to the Distribution.
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Transfer of Accruals. 19 When an employee is promoted, transferred, demoted, appointed, or otherwise 20 moves to another department or classification within the County, the employee’s 21 accumulated sick leave balances shall be transferred with the employee to the gaining 22 department / classification.
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Transfer of Accruals. 8 When an employee is promoted, transferred, demoted, appointed, or otherwise 9 moves to another department or classification within the County, the employee’s 10 accumulated vacation leave balances shall be transferred with the employee to the 11 gaining department / classification.
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Related to Transfer of Accruals

  • Transfer of Accounts The Seller may transfer the Custodial Account or the Escrow Account to a different depository institution from time to time. Such transfer shall be made only upon obtaining the consent of the Purchaser, which consent shall not be unreasonably withheld. In any case, the Custodial Account and Escrow Account shall be Eligible Accounts.

  • Transfer of Agreement Without prior written consent of the WFOE, the Existing Shareholders or the Domestic Company may not assign its rights and obligations hereunder to any third party.

  • Transfer of Business Where a transfer of business occurs, an Employee who worked with the old employer and who continues in the service of the new employer will be entitled to count her/his service with the old employer as service with the new employer for the purposes of this clause.

  • Transfer of Servicing Each Seller agrees that it shall provide written notice to the Trustee and the Master Servicer thirty days prior to any transfer or assignment by such Seller of its rights under any Servicing Agreement or of the servicing thereunder or delegation of its rights or duties thereunder or any portion thereof to any Person other than the initial Servicer under such Servicing Agreement; provided, that (i) each Seller shall not be required to provide prior notice of any transfer of servicing that occurs within three months following the Closing Date to an entity that is a Servicer on the Closing Date or (ii) ▇▇▇▇▇▇ Holdings shall be required to provide notice of any transfer of servicing rights by either of them to the other. In addition, the ability of each Seller to transfer or assign its rights and delegate its duties under any Servicing Agreement (other than a transfer of servicing rights between ▇▇▇▇▇▇ Holdings and ▇▇▇▇▇▇ Bank) or to transfer the servicing thereunder to a successor servicer shall be subject to the following conditions: (i) Such successor servicer must be qualified to service loans for FNMA or FHLMC; (ii) Such successor servicer must satisfy the seller/servicer eligibility standards in the applicable Servicing Agreement, exclusive of any experience in mortgage loan origination, and must be reasonably acceptable to the Master Servicer, whose approval shall not be unreasonably withheld; (iii) Such successor servicer must execute and deliver to the Trustee and the Master Servicer an agreement, in form and substance reasonably satisfactory to the Trustee and the Master Servicer, that contains an assumption by such successor servicer of the due and punctual performance and observance of each covenant and condition to be performed and observed by the applicable Servicer under the applicable Servicing Agreement or, in the case of a transfer of servicing to a party that is already a Servicer pursuant to this Agreement, an agreement to add the related Mortgage Loans to the Servicing Agreement already in effect with such Servicer; (iv) If the successor servicer is not a Servicer of Mortgage Loans at the time of transfer, there must be delivered to the Trustee a letter from each Rating Agency to the effect that such transfer of servicing will not result in a qualification, withdrawal or downgrade of the then-current rating of any of the Certificates; (v) The related Seller shall, at its cost and expense, take such steps, or cause the terminated Servicer to take such steps, as may be necessary or appropriate to effectuate and evidence the transfer of the servicing of the Mortgage Loans to such successor servicer, including, but not limited to, the following: (A) to the extent required by the terms of the Mortgage Loans and by applicable federal and state laws and regulations, the related Seller shall cause the prior Servicer to timely mail to each obligor under a Mortgage Loan any required notices or disclosures describing the transfer of servicing of the Mortgage Loans to the successor servicer; (B) prior to the effective date of such transfer of servicing, the related Seller shall cause the prior Servicer to transmit to any related insurer notification of such transfer of servicing; (C) on or prior to the effective date of such transfer of servicing, the related Seller shall cause the prior Servicer to deliver to the successor servicer all Mortgage Loan Documents and any related records or materials; (D) on or prior to the effective date of such transfer of servicing, the related Seller shall cause the prior Servicer to transfer to the successor servicer, or, if such transfer occurs after a Remittance Date but before the next succeeding Deposit Date, to the Master Servicer, all funds held by the applicable Servicer in respect of the Mortgage Loans; (E) on or prior to the effective date of such transfer of servicing, the related Seller shall cause the prior Servicer to, after the effective date of the transfer of servicing to the successor servicer, continue to forward to such successor servicer, within one Business Day of receipt, the amount of any payments or other recoveries received by the prior Servicer, and to notify the successor servicer of the source and proper application of each such payment or recovery; and (F) the related Seller shall cause the prior Servicer to, after the effective date of transfer of servicing to the successor servicer, continue to cooperate with the successor servicer to facilitate such transfer in such manner and to such extent as the successor servicer may reasonably request.

  • Transfer of Contracts 33.1 The contractor shall not abandon, transfer, cede assign or sublet a contract or part thereof without the written permission of the purchaser.