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The union also agreed to divert to the pension fund a payment of 3,500 Canadian dollars that was originally intended to compensate members for reduced vacation time.
But that figure would now be reduced by whatever payment was made on the $1.5 billion previously owed to the pension fund - a payment that could run in the neighborhood of $100 million, depending on how the financing is structured.
The battle has come to a head in the last few weeks owing to Greece's June 5 deadline for a $325-million 325-million debt the International Monetary Fund, a payment Greece had said it wouldn't make.
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Under the NEF proposal, the tax-free personal allowance would be scrapped and the proceeds used to fund a flat payment of £48.08 a week for every adult.
They will instead be funded by a payment from council reserves.
Bill Ready, EVP and COO of PayPal, said in an interview that typically funds from a payment to a seller could days or weeks to come into a businesses' account, in line with how things typically work in the payments industry.
Activity-based funding is a payment model based on the volume and type of services provided to each patient for hospital care whereas in global budgeting the volume and total price is fixed prospectively.
In April 2002, just as the dividend recap boom got going, KB took on $66 million in bank loans to fund an $85 million payment to Bain, court documents show.
Lawyers in London are pressing a claim for money from Britain's criminal compensation fund, but if a payment comes at all it could take years.
"Whereas we could take on someone with an 80% attendance rate [at school] in the innovation fund [to trigger a payment for improved attendance], we now have to take someone with a 65% attendance rate or worse.
The move comes just a day ahead of Greece's Tuesday deadline to repay the International Monetary Fund (IMF) $1.8 billion — a payment which some have predicted the country will miss.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com