Voluntary Reductions The Borrower shall have the right to terminate or permanently reduce the unused portion of the Revolving Committed Amount at any time or from time to time upon not less than five (5) Business Days’ prior written notice to the Administrative Agent (which shall notify the Lenders thereof as soon as practicable) of each such termination or reduction, which notice shall specify the effective date thereof and the amount of any such reduction which shall be in a minimum amount of $1,000,000 or a whole multiple of $1,000,000 in excess thereof and shall be irrevocable and effective upon receipt by the Administrative Agent; provided that no such reduction or termination shall be permitted if after giving effect thereto, and to any prepayments of the Revolving Loans made on the effective date thereof, the sum of the aggregate principal amount of outstanding Revolving Loans plus outstanding Swingline Loans plus outstanding LOC Obligations would exceed the Revolving Committed Amount then in effect.
Voluntary Reduction The Borrower shall have the right at any time and from time to time, upon at least five (5) Business Days prior written notice to the Administrative Agent, to permanently reduce, without premium or penalty, (i) the entire Revolving Credit Commitment at any time or (ii) portions of the Revolving Credit Commitment, from time to time, in an aggregate principal amount not less than $3,000,000 or any whole multiple of $1,000,000 in excess thereof. Any reduction of the Revolving Credit Commitment shall be applied to the Revolving Credit Commitment of each Revolving Credit Lender according to its Revolving Credit Commitment Percentage. All Commitment Fees accrued until the effective date of any termination of the Revolving Credit Commitment shall be paid on the effective date of such termination.
Voluntary Redundancy a) With the exception of areas where there is only one position under review, the employer will call for expressions of interest from kaimahi within the area of review who wish to volunteer for redundancy to cover the surplus/es positions that have been identified.
b) Should the number of volunteers exceed the number of surpluses, the employer will apply selection criteria as defined in clause 12.7 to determine whose application for redundancy will be accepted.
c) Should the number of volunteers not exceed the number of identified surpluses, the employer will accept all expressions of interest from those who have volunteered subject to the operational requirements of the employer.
d) Should there be no volunteers or insufficient volunteers to discharge the surplus, the employer shall then apply the criteria set out in clause 11.7 to identify the kaimahi to be declared surplus.
REDUCTION IN WORK FORCE 13:01 When circumstances require a reduction in the number of employees within a classification, the following procedure shall apply:
(i) An employee with the most seniority of those affected by the reduction in the classification shall displace the most junior employee in another classification within the same Seniority List, provided his seniority so allows and he can continue to perform the work required.
(ii) If the reduction results in the classification changing from Continuous Shift to a non-Continuous Shift, then senior employees being retained in the classification may, in order of seniority, be allowed to exercise any "bump" that the junior employee(s) could have exercised under 13:01 (a) (i) or 13:01 (d), provided the senior employee is capable of continuing to perform the work required.
(b) An employee so displaced shall in turn displace the most junior employee in another classification within the same Seniority List, provided his seniority so allows and he can continue to perform the work required.
(c) Notwithstanding (a) and (b) above, an employee displaced from a day job ("E" shift) through the provisions of this Article, shall have the following options: To displace the most junior employee on any Seniority List on a day job ("E" shift) not requiring training (*) provided his seniority so allows. OR To displace the most junior employee in any classification on any Seniority List (Maintenance skilled classifications excepted), provided his seniority so allows and he can continue to perform the work required.
(d) An employee displaced from a Departmental Seniority List, having previously exhausted all possible options within his own Seniority List as detailed in (a) and (b) of this section, shall be entitled to displace the most junior employee in any classification on any Seniority List (Maintenance skilled classifications excepted), provided his seniority so allows and he can continue to perform the work required. If more than one shift schedule is in effect in the classification, said employee may select his schedule provided his seniority so allows.
(i) An employee displaced from a Departmental Seniority List, having previously exhausted all possible options as detailed in (a), (b), (c), and (d) of this section shall be entitled to displace the most junior employee in any of the Seniority Lists (Maintenance skilled classifications excepted) provided his seniority so allows and he has the physical fitness to perform the work required and shall be trained to perform such work.
(ii) An employee displaced from a Departmental Seniority List, having previously exhausted all possible options as detailed in (a), (b), (c), (d), and (e)(i), who cannot perform the work required due to physical restrictions as confirmed by his Doctor, verified by the Company Doctor and where applicable verified by the WSIB will be allowed to displace the most junior employee of all those classifications on a comparable shift, provided his seniority so allows, and he can perform the work required as medically cleared by his Doctor, verified by the Company Doctor and where applicable verified by the WSIB. Training will be provided. If placement on a comparable shift is not applicable, then the restricted employee will be allowed to displace the most junior employee in the plant, seniority allowing in a classification in which he can perform the work required as medically cleared by his Doctor, verified by the Company Doctor and where applicable verified by the WSIB. Training will be provided.
(iii) If the restricted employee cannot be placed through the application of this section, then he shall be placed on the Inactive Seniority List (provided he is not receiving wages from other employment or refuses rehabilitative training as offered by the (Workplace Safety & Insurance Board) and the Company shall advise him of any future openings which he could perform.
(iv) An employee who cannot be assigned to another job through the application of 13.01(e) and who is ineligible for the Inactive Seniority List, may be placed on layoff.
(f) An employee entering another Department through the provisions of this Article, shall have his seniority transferred as of the date of the transfer.
(g) An employee displaced from his Department through the application of this Article, shall not transfer to another Department under the provisions of Article XII- Transfers and Promotions while a more senior non-restricted employee is on lay-off.
13:02 In the event a reduction of work results in a layoff, probationary employees shall be the first to be laid off.
13:03 Employees laid off shall for the purpose of recall, be provided with a form by the Human Resources Department on which they shall indicate the jobs they can reasonably perform. Employees who have indicated the jobs they can reasonably perform, on a form provided by the Human Resources Department, shall under certain circumstances be allowed to place themselves on lay-off.
13:04 In the event of lay-off for reasons other than those listed in Article XIX of the Agreement section 19:01 (a), (b), (c), and (d), the Company shall give at least seven (7) calendar days notice to the employees affected.
13:05 Whenever two (2) job classifications are combined into a single new classification, any employee who has been classified in either job during the previous five (5) years shall be allowed to displace a more junior employee in the new classification if he is affected by a reduction in the work force.
13:06 On occasions that scheduled maintenance of electrical equipment necessitates a power outage, employees affected shall be laid off for a period not in excess of one-half of their regular shift and shall not be eligible to displace other employees under the provisions of this Article.
13:07 In the event of a total plant closure, the Company agrees to pay a severance payment for all employees (except those on the Inactive Seniority List) at the rate of one (1) weeks regular pay per year of service to a maximum of twenty-six (26) weeks of pay. Employees with more than twenty-six (26) years of service shall receive an additional one-half (1/2) weeks pay for each year of service beyond twenty-six (26) (partial years of service will be included in the calculation of total severance pay). The Company will provide three (3) months notice to Union in the event of total plant closure.
Voluntary Reduction of Commitments (a) Upon at least two Business Days’ prior written notice (or telephonic notice promptly confirmed in writing) to the Administrative Agent at the Administrative Agent’s Office (which notice the Administrative Agent shall promptly transmit to each of the Lenders), the Borrower shall have the right, without premium or penalty, on any day, permanently to terminate or reduce the Commitments of any Class, as determined by the Borrower, in whole or in part; provided that (a) with respect to the Commitments, any such termination or reduction shall apply proportionately and permanently to reduce the Commitments of each of the Lenders of such Class, except that, notwithstanding the foregoing, (1) the Borrower may allocate any termination or reduction of Commitments among Classes of Commitments either (A) ratably among Classes or (B) first to the Commitments with respect to any Existing Commitments and second to any Extended Commitments and (2) in connection with the establishment on any date of any Extended Commitments pursuant to Section 2.17, (i) the Existing Commitments of each Lender providing any such Extended Commitments on such date shall be reduced in an amount equal to the amount of Specified Existing Commitments so extended on such date by such Lender and (ii) the Existing Commitments of any Lender not providing such Extended Commitments shall be reduced, solely to the extent elected to be reduced by the Borrower pursuant to Section 2.17, among the Class or Classes of Commitments elected by the Borrower (provided that (x) after giving effect to any such reduction and to the repayment of any Loans made on such date, the Total Exposure of any such Lender does not exceed the Commitment of such Lender (such Total Exposure and Commitment in the case of an Extending Lender being determined for purposes of this proviso, for the avoidance of doubt, exclusive of such Extending Lender’s Extended Commitment and any exposure in respect thereof) and (y) for the avoidance of doubt, any such repayment of Loans contemplated by the preceding clause (x) shall be made in compliance with the requirements of Section 5.3(a) with respect to the ratable allocation of payments hereunder, with such allocation being determined after giving effect to any conversion pursuant to Section 2.17 of Existing Commitments and Existing Loans into Extended Commitments and Extended Loans respectively, and prior to any reduction being made to the Commitment of any other Lender), (b) any partial reduction pursuant to this Section 4.2 shall be in the amount of at least $1,000,000 and (c) after giving effect to such termination or reduction and to any prepayments of Loans or cancellation or Cash Collateralization of Letters of Credit made on the date thereof in accordance with this Agreement, the aggregate amount of the Lenders’ Total Exposures shall not exceed the Loan Limit.
(b) The Borrower may terminate the unused amount of the Commitment of a Defaulting Lender upon not less than two (2) Business Days’ prior notice to the Administrative Agent (which will promptly notify the Lenders thereof), and in such event the provisions of Section 2.15(f) will apply to all amounts thereafter paid by the Borrower for the account of such Defaulting Lender under this Agreement (whether on account of principal, interest, fees, indemnity or other amounts), provided that such termination will not be deemed to be a waiver or release of any claim the Borrower, the Administrative Agent, any Issuing Bank, the Swingline Lender or any Lender may have against such Defaulting Lender. Notwithstanding anything to the contrary contained in this Agreement, any such notice of commitment termination pursuant to Section 4.2 may state that it is conditioned upon the occurrence or non-occurrence of any event specified therein (including the effectiveness of other credit facilities), in which case such notice may be revoked by the Borrower (by written notice to the Administrative Agent on or prior to the specified effective date) if such condition is not satisfied.