Adequacy of Payment Sample Clauses

Adequacy of Payment. The payment of a debt or liability, whether the whereabouts of the creditor is known or unknown, shall have been adequately provided for if payment thereof shall have been assumed or guaranteed in good faith by one or more financially responsible Persons or by the United States government or any agency thereof, and the provision, including the financial responsibility of the Person, was determined in good faith and with reasonable care by the Members to be adequate at the time of any distribution of the assets pursuant to this Section. This Section shall not prescribe the exclusive means of making adequate provision for debts and liabilities.
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Adequacy of Payment. 8.2.1 Except for the indemnity provisions and other obligations or covenants set forth in this Agreement, Xxxxxxx and Buyer agree that the consideration set forth in this Agreement payable to Buyer constitutes all that is due Xxxxxxx or Buyer from Seller or Stockholder or any of their Affiliates other than Company, including but not limited to any tort damages, any other claimed damages, and any claimed lost income, wages, costs, penalties and/or attorneys’ fees in connection with the claims encompassed and released by this Agreement. Xxxxxxx and Buyer agree that they shall not seek any further compensation or consideration from Seller or Stockholder or from any of their Affiliates, other than Company, or from any or their employees, officers or directors or other related or affiliated person and/or entity for anything arising out of Xxxxxxx’x association with Seller, Stockholder, or Company for any and all claims released herein. 8.2.2 Except for the indemnity provisions and other obligations or covenants set forth in this Agreement, Seller and Stockholder agree that the consideration set forth in this Agreement payable to either of them constitutes all that is due them from Xxxxxxx or Buyer, including but not limited to any tort damages, any other claimed damages, and any claimed costs, penalties and/or attorneys’ fees in connection with the claims encompassed and released by this Agreement. Seller and Stockholder agree that neither they nor any of their Affiliates shall seek any further compensation or consideration from Buyer or Xxxxxxx or from any of their Affiliates or from any of their employees, officers or directors or other related or affiliated person and/or entity for anything arising out of their association with Xxxxxxx and Company for any and all claims released herein.
Sample 1
Adequacy of Payment. Such Seller acknowledges and agrees that the Purchase Consideration is fair and equitable to such Seller.
Sample 1
Adequacy of Payment. Such Warrantholder is an “Accredited Investor” as such term is defined under Regulation D of the Securities Act of 1933, and has such knowledge and experience in financial and business matters as to be capable of evaluating the merits and risks of selling such Warrants to the Company at the price and on the terms set forth in Section 1 hereof, and that the Company has made no representation or warranty to such Warrantholder with respect to the fair market value of such Warrants. Such Warrantholder agrees that the amount of the Payment is fair and equitable to such Warrantholder. Such Warrantholder acknowledges that arm’s-length negotiations between the Company and the Warrantholders resulted in such Warrantholder agreeing to the sufficiency of the Payment in exchange for the Company’s purchase of such Warrants.
Sample 1
Adequacy of Payment. The Holder agrees that the Shares the Holder is receiving upon the conversion and exchange of the Exchanged Debt is fair and equitable consideration to such Holder, and such Holder has determined that the conversion and exchange of the Exchanged Debt at this particular time and for the amount and form of consideration set forth in Section 1 is in such Holder’s best interests. The Holder acknowledges that the Holder agreed to the sufficiency of the consideration in exchange for the conversion and exchange of the Exchanged Debt following arm’s length negotiations with representatives of the Company.
Sample 1

Related to Adequacy of Payment

  • Condition of Payment All services provided by the Contractor under this Contract must be performed to the State’s reasonable satisfaction, as determined at the discretion of the undersigned State representative and in accordance with all applicable federal, state, local laws, ordinances, rules and regulations. The State shall not be required to pay for work found to be unsatisfactory, inconsistent with this Contract or performed in violation of any federal, state or local statute, ordinance, rule or regulation.

  • Assurance of Payment 6.1 Upon request by Verizon, Emergency shall, at any time and from time to time, provide to Verizon adequate assurance of payment of amounts due (or to become due) to Verizon hereunder. 6.2 Assurance of payment of charges may be requested by Verizon if Emergency or its Affiliates (a) prior to the Effective Date, has failed to timely pay a xxxx rendered to Emergency by Verizon or its Affiliates, (b) on or after the Effective Date, fails to timely pay a xxxx rendered to Emergency by Verizon or its Affiliates, (c) in Verizon’s reasonable judgment, at the Effective Date or at any time thereafter, is unable to demonstrate that it is creditworthy, or (d) admits its inability to pay its debts as such debts become due, has commenced a voluntary case (or has had a case commenced against it) under the U.S. Bankruptcy Code or any other law relating to bankruptcy, insolvency, reorganization, winding-up, composition or adjustment of debts or the like, has made an assignment for the benefit of creditors or is subject to a receivership or similar proceeding.‌ 6.3 Unless otherwise agreed by the Parties, the assurance of payment shall consist of an unconditional, irrevocable standby letter of credit naming Verizon as the beneficiary thereof and otherwise in form and substance satisfactory to Verizon from a financial institution acceptable to Verizon. The letter of credit shall be in an amount equal to two (2) months anticipated charges (including, but not limited to, both recurring and non-recurring charges), as reasonably determined by Verizon, for the Services to be provided by Verizon to Emergency in connection with this Agreement. If Emergency or its Affiliates meets the condition in subsection 6.2(d) above or has failed to timely pay two or more bills rendered by Verizon or a Verizon Affiliate in any twelve (12)-month period, Verizon may, at its option, demand (and Emergency shall provide) additional assurance of payment, including monthly advanced payments of estimated charges as reasonably determined by Verizon, with appropriate true-up against actual billed charges no more frequently than once per Calendar Quarter.‌ 6.4 Verizon may (but is not obligated to) draw on the letter of credit upon notice to Emergency in respect of any amounts to be paid by Emergency hereunder that are not paid within thirty (30) days of the date that payment of such amounts is required by this Agreement. 6.5 If Verizon draws on the letter of credit, upon request by Verizon, Emergency shall provide a replacement or supplemental letter of credit conforming to the requirements of Section 6.3. 6.6 Notwithstanding anything else set forth in this Agreement, if Verizon makes a request for assurance of payment in accordance with the terms of this Section, then Verizon shall have no obligation thereafter to perform under this Agreement until such time as Emergency has provided Verizon with such assurance of payment. 6.7 The fact that a letter of credit is requested by Verizon hereunder shall in no way relieve Emergency from compliance with the requirements of this Agreement (including, but not limited to, any applicable Tariffs) as to advance payments and payment for Services, nor constitute a waiver or modification of the terms herein pertaining to the discontinuance of Services for nonpayment of any amounts payment of which is required by this Agreement.

  • Evidence of Payments As soon as practicable after any payment of Indemnified Taxes or Other Taxes by the Borrower to a Governmental Authority, the Borrower shall deliver to the Administrative Agent the original or a certified copy of a receipt issued by such Governmental Authority evidencing such payment, a copy of the return reporting such payment or other evidence of such payment reasonably satisfactory to the Administrative Agent.

  • Application of Payment The monthly housing assistance payment shall be credited against the monthly rent to owner for the contract unit.

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