Weekly Rate Clause Samples
The Weekly Rate clause defines the amount to be paid for services or goods on a weekly basis. It specifies the fixed fee or rate that applies for each week of work or use, regardless of the number of days worked within that week. For example, a contractor might be paid a set sum for any work performed during a calendar week, even if the actual hours vary. This clause ensures predictable and consistent payments, simplifying budgeting and reducing disputes over variable work hours or days.
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Weekly Rate. When interest on the Bonds is payable at a Weekly Rate, the Remarketing Agent will set a Weekly Rate on or before 5:00 p.m., New York City time, on the last Business Day before the commencement of a period during which the Bonds bear interest at a Weekly Rate and on each Wednesday thereafter so long as interest on the Bonds is to be payable at a Weekly Rate or, if any Wednesday is not a Business Day, on the next preceding Business Day. Each Weekly Rate will be the minimum rate necessary (as determined by the Remarketing Agent based on the examination of tax-exempt obligations comparable to the Bonds known by the Remarketing Agent to have been priced or traded under then prevailing market conditions) for the Remarketing Agent to sell the Bonds on the date the rate is set at their principal amount (without regard to accrued interest). Thereafter, each Weekly Rate shall apply to (i) the period beginning on the Thursday after the Weekly Rate is set and ending on the following Wednesday or, if earlier, ending on the day before the effective date of a new method of determining the interest rate on the Bonds or (ii) the period beginning on the effective date of the change to a Weekly Rate and ending on the next Wednesday.
Weekly Rate. Weekly Rate is the higher of the minimum rate set out herein or the Contracted Rate negotiated between the Producer and the Guild Member to be attributable to a work week of five (5) consecutive days in any consecutive seven (7) calendar days.
Weekly Rate. During any period commencing on the date that the Interest Rate Determination Method is converted to a mode where the Bonds bear interest at a Weekly Rate pursuant to Section 2.04 to, but not including, the next Conversion Date (a "Weekly Rate Period"), the Bonds will bear interest at the Weekly Rate. With respect to any Weekly Rate Period, the Remarketing Agents will set a rate (a "Weekly Rate") by 12:00 noon New York City time: (i) on the first Business Day before any Conversion Date immediately after which the Bonds will bear interest at a Weekly Rate for the period commencing on the Conversion Date through and including the next Tuesday that is at least six days from such Conversion Date and (ii) on each Wednesday thereafter (or the first Business Day before such Wednesday, if such Wednesday is not a Business Day) for the seven day period from such Wednesday through and including the next Tuesday. Each Weekly Rate shall be the rate of interest which, if borne by the Bonds, would, in the judgment of the Remarketing Agents, having due regard to the prevailing financial market conditions for tax-exempt revenue bonds or other tax-exempt securities of the same general nature as the Bonds or tax-exempt securities which are competitive as to credit and maturity (or period for tender) with the credit and maturity (or period for tender) of the Bonds, be the interest rate necessary, but would not exceed the interest rate necessary, to enable the Remarketing Agents to remarket the Bonds at a price of par (plus accrued interest, if any) on such Wednesday; PROVIDED that the Weekly Rate shall not be greater than 110% of the Weekly Rate Index. If for any reason the Weekly Rate for any Weekly Rate Period is not established as aforesaid by the Remarketing Agents, no Remarketing Agent shall be serving as such hereunder or the rate so established is held to be invalid or unenforceable by a final judgment of a court of law with respect to any Weekly Rate Period, then the Weekly Rate for such Weekly Rate Period shall be 100% of the Weekly Rate Index on the date such interest rate was (or would have been) determined as provided above. The Indexing Agent shall establish the Weekly Rate Index on the Business Day next preceding each day on which a Weekly Rate is determined by the Remarketing Agents. Notwithstanding the foregoing, in the event that the Remarketing Agents, in their judgment, shall determine that the Weekly Rate Index so established is sufficiently non-representa...
Weekly Rate. The weekly rate will be $ and is due and payable each Friday by 5:30pm. If Child is absent from service the normal weekly rate will be due and payable.
Weekly Rate. Represents 6 working days of 10 hours per day (60 hours) per week unless otherwise specified in the quotation.
Weekly Rate. Daily Rate Employees who work seven (7) consecutive days on standby will be given the choice of compensation by pay as per (a) above or they will be given the choice of banking the equivalent of one day in lieu thereof. These rates include payment for the use of the prevailing rates for time actually worked. An Employee who is required by the Company to reside away from their normal residence and is assigned standby duty, shall be compensated at one and one-half (1 the regular standby rate.
Weekly Rate. Junior Apprentices
Weekly Rate. Weekly rates shall be for a seven (7) day period and are due per the Policy and Procedures Manual. The weekly rate to be two hundred and thirty ($230.00) dollars shall be maintained for the course of this Agreement, and should the need arise to the weekly stand rent rate the Company shall consult the Union. number.
Weekly Rate. The weekly rate of pay provided compensates an employee for all ordinary hours worked, including Saturday and Sunday. The rate of pay provided compensates an employee for maintaining any necessary special clothing such as a uniform or other clothing provided by us. Classification: Shop Assistant Rate FPP on commencement of the Agreement Rate FPP 12 months after commencement of Agreement Rate FPP after a further 12 months Per week Per week Per week $630.00 $655.00 $700.00 FPP = first pay period
Weekly Rate. During any Weekly Rate Period (as defined in the Indenture) the Bonds will bear interest at the Weekly Rate. During any Weekly Rate Period, the Remarketing Agent will determine the Weekly Rate for the applicable Calculation Period on the applicable Determination Date. Each Weekly Rate shall be the rate of interest per annum determined by the Remarketing Agent on and as of each applicable Determination Date as the minimum rate of interest per annum necessary, in the judgment of the Remarketing Agent taking into account market conditions prevailing on the Determination Date, to enable the Remarketing Agent to arrange for the sale of all of the Bonds on the first day of the applicable Calculation Period in the secondary market at a price equal to the principal amount thereof (plus accrued interest to the date of settlement). If the Remarketing Agent fails to certify such rate, the Weekly Rate for any Calculation Period, or if for any reason the Weekly Rate is held to be invalid or unenforceable by a court of competent jurisdiction for any period, the Weekly Rate for such Calculation Period shall be the Alternate Rate (as defined in the Indenture). Notwithstanding anything else contained herein, the Weekly Rate shall not in any event exceed the lesser of (i) 15% per annum or (ii) the maximum rate permitted by law.