Additional Annual Payments Sample Clauses

Additional Annual Payments. On the first, second, third, fourth, and fifth anniversary of the Employment Date, BFC shall pay to Executive $63,500, plus an additional amount as is necessary to "gross up" such payment to cover the anticipated income tax liability resulting from such taxable income.
Sample 1
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Additional Annual Payments. Within 120 days after the end of each calendar year within the Subsequent Employment Period (other than with respect to the 2002 calendar year), the Company shall pay to the Executive a lump sum amount equal to the Annual Amount (as defined herein) minus $350,000. The "Annual Amount" for purposes of this Agreement shall be three percent (3%) of the "extra-ordinary gains" for the calendar year (as defined under the Bonus Plan, attached as Exhibit A), calculated as if the Executive was a participant during such calendar year in the Bonus Plan as in effect on the date of this Agreement (provided the $10,000,000 cap on the annual aggregate payments to eligible Financial Services Division Team Members shall not apply) but excluding any unrealized or unrecognized gains and including as eligible for the bonus pool for the calendar year only those projects commenced by AJG Financial prior to July 31, 2002, as set forth on Exhibit B hereto. In the event any of the projects set forth on Exhibit B hereto has not been disposed of by the Company (and the gains or losses in connection therewith realized and recognized) prior to the Termination Date, the payments to the Executive pursuant to this Section 4(b) shall continue in accordance with the provisions hereof for calendar years subsequent to the Termination Date until such disposal and realization and recognition; provided, however, that (i) the Annual Amount shall not be reduced by $350,000 with respect to such payments for calendar years subsequent to the Termination Date and (ii) if any gain or loss in connection with the Company's investment in Asset Alliance Corporation has not been fully realized and recognized prior to December 31, 2022, then for purposes of this Section 4(b) the Company's investment in Asset Alliance Corporation shall be deemed to have been disposed of on December 31, 2022, in which case the gain or loss thereon shall be determined based upon a then current appraisal made by an appraiser mutually acceptable to the Company and the Executive or, absent the mutual selection of an appraiser, upon the average of the appraisals made by a professionally qualified, reputable appraiser selected separately by each of the Company and the Executive. The Executive shall be entitled, upon reasonable advance request to the Company, to review at the Company's offices all work papers utilized to calculate payments to the Executive pursuant to this Section 4(b) and at his own expense may engage an auditor to ...
Sample 1
Additional Annual Payments. If for any Measurement Year other than the last Measurement Year in the Full Measurement Period, the Actual EBITDA of Capital exceeds the Target EBITDA of Capital, the Purchaser shall perform certain calculations as provided in this Section 3(b) to determine whether an additional Payment is then payable to the appropriate Payee or Payees, in addition to the Annual Payment payable for such Measurement Year as specified in Section 3(a), above, and if an additional Payment is payable, the Purchaser shall make such Payment. Any additional Payment hereunder shall consist of one or more Retroactive Annual Payments and/or an Early Deferred Payment, as defined in subparagraphs (i) and (ii) below. The existence and amount of any such additional Payment shall depend, among other things, upon the amount by which the Actual EBITDA of Capital for the Measurement Year in question (the "Excess Year") exceeds the Target EBITDA of Capital for such year (such amount, the "Excess EBITDA Amount"). In determining the existence and amount of any such additional Payment, the Purchaser shall first perform the calculations regarding possible Retroactive Annual Payments as provided under subparagraph (i) below, and then shall perform the calculation regarding a possible Early Deferred Payment under subparagraph (ii) below. The aggregate amount of any additional Payment ultimately determined to be payable shall be paid at the same time, to the same Payee or Payees, in the same form and as of the same Valuation Date, as the Annual Payment payable for the Excess Year.
Sample 1
Additional Annual Payments. In addition to Extended Term Rent, Lessee shall pay to Lessor an annual payment (each an “Additional Annual Payment” and collectively, “Additional Annual Payments”) for certain Wind Power Facilities actually constructed on the Property (the “Additional Payment Facilities”), but only as follows:
Sample 1
Additional Annual Payments. Payments made by Xxxxxxx Biomass to the Town pursuant to Paragraph 9.a. of this TIF Agreement.
Sample 1

Related to Additional Annual Payments

  • Additional Payments Any sums expended by Agent or any Lender due to any Borrower’s failure to perform or comply with its obligations under this Agreement or any Other Document including any Borrower’s obligations under Sections 4.2, 4.4, 4.12, 4.13, 4.14 and 6.1 hereof, may be charged to Borrowers’ Account as a Revolving Advance and added to the Obligations.

  • Additional Payment In addition to any Spousal Support, in the event of Divorce: (check one) ☐ - There shall be No Additional Payment made by either Spouse to the other than those listed in this Agreement. ☐ - There shall be an Additional One (1) Time payment in the amount of $ made by the ☐ Husband ☐ Wife to the ☐ Husband ☐ Wife (“Additional Payment”). The Additional Payment shall be made within thirty (30) days after a divorce judgment, decree, or similar document that certifies the Divorce. ☐ - Other. .

  • Income Payments Seller shall be entitled to receive an amount equal to all Income paid or distributed on or in respect of the Securities that is not otherwise received by Seller, to the full extent it would be so entitled if the Securities had not been sold to Buyer. Buyer shall, as the parties may agree with respect to any Transaction (or, in the absence of any such agreement, as Buyer shall reasonably determine in its discretion), on the date such Income is paid or distributed either (i) transfer to or credit to the account of Seller such Income with respect to any Purchased Securities subject to such Transaction or (ii) with respect to Income paid in cash, apply the Income payment or payments to reduce the amount, if any, to be transferred to Buyer by Seller upon termination of such Transaction. Buyer shall not be obligated to take any action pursuant to the preceding sentence (A) to the extent that such action would result in the creation of a Margin Deficit, unless prior thereto or simultaneously therewith Seller transfers to Buyer cash or Additional Purchased Securities sufficient to eliminate such Margin Deficit, or (B) if an Event of Default with respect to Seller has occurred and is then continuing at the time such Income is paid or distributed.

  • Installment Payments Notwithstanding Section 3.01, the Executive may elect by written notice to receive any payments due to him hereunder by way of periodic or installment payments.

  • Upfront Payments Within ten (10) days of the Effective Date, Celgene shall pay Acceleron Twenty-Five Million U.S. Dollars ($25,000,000) as an upfront, non-creditable, nonrefundable fee, relating to the license grants set forth in Article 4.

  • Amortization Payments The Company shall make three payments (each an “Amortization Payment”) as follows: on the six-month anniversary of the Original Issue Date, on the seven-month anniversary of the Original Issue Date, and on the Maturity Date (each such date a “Payment Date”), provided that if any Payment Date is not a Business Day, then the applicable payment shall be due on the next succeeding Business Day. Each Amortization Payment shall be equal to one-third of the original principal amount of the Note, plus all accrued interest thereon as of the Payment Date, as adjusted pursuant to Section 2(c) below. At the Holder’s option (except as set forth herein), payment may be made in cash or in duly authorized, validly issued, fully paid and non-assessable shares of Common Stock, provided the Company complies with the Equity Conditions provided in Section 2(d), below.

  • Initial Payments § 11.10.1.1 An initial payment of « » ($ « » ) shall be made upon execution of this Agreement and is the minimum payment under this Agreement. It shall be credited to the Owner’s account in the final invoice.

  • Rental Payments The Lessee agrees to pay annual rental for the Premises at a rate per year during the term of this Lease not to exceed One Million One Hundred Thousand Dollars ($1,100,000.00). Each such semi-annual installment, payable as hereinafter described, shall be based on the value of that portion of the Premises which is complete and ready for use and occupancy by the Lessee at the time such semi-annual installment is made. The first rental installment shall be due on the later of (i) January 15, 2024; or (ii) the date on which a portion of the Premises is available for use and occupancy by the Lessee. Thereafter, such rental shall be payable in advance in semi‑annual installments on January 15 and July 15 of each year. The last semi‑annual rental payment due before the expiration of this Lease shall be adjusted to provide for rental at the yearly rate so specified from the date such installment is due to the date of the expiration of this Lease. All rentals payable under the terms of this Lease shall be paid by the Lessee to the trustee (the “Trustee”) under the trust indenture (the “Indenture”) securing the bonds to be issued by the Lessor to provide funds for the project on the Premises (such bonds, or bonds issued to refund such bonds, the “Bonds”). All payments so made by the Lessee shall be considered as payments to the Lessor of the rentals payable hereunder. After the sale of the Bonds, the annual rental shall be reduced to the multiple of $1,000 next higher than the principal and interest due in each twelve (12) month period commencing each year on June 30 payable in semi‑annual installments together with an amount sufficient to cover annual trustee fees and other administrative costs but not to exceed Five Thousand Dollars ($5,000). In addition, each such reduced semi-annual installment shall be based on the value of the portion of the Premises which is complete and ready for use and occupancy by the Lessee at the time such semi-annual installment is made. Such amount of adjusted rental shall be endorsed on this Lease at the end hereof in substantially the form of Exhibit B attached hereto by the parties hereto as soon as the same can be done after the sale of the Bonds, and such endorsement shall be recorded as an addendum to this Lease. The fixed annual rentals described in this Section 2 (the “Fixed Annual Rentals”) and the additional rentals described in Section 3 (the “Additional Rentals”) shall be payable solely from the budgeted revenues of the Lessee (the “Budgeted Revenues”). The Lessee may pay the Fixed Annual Rentals and the Additional Rentals or any other amounts due hereunder from any other revenues legally available to the Lessee; provided, however, the Lessee shall be under no obligation to pay any Fixed Annual Rentals or Additional Rentals or any other amounts due hereunder from any moneys or properties of the Lessee except the Budgeted Revenues received by the Lessee.

  • Excess Payments If Tenant shall assign this Lease or sublet any part of the Premises for consideration in excess of the pro-rata portion of Rent applicable to the space subject to the assignment or sublet, then Tenant shall pay to Landlord as Additional Rent 50% of any such excess immediately upon receipt.

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