Amount of Deferred Payments Sample Clauses

Amount of Deferred Payments. The El Paso Settling Parties jointly and severally (subject to Paragraph 4.1(d)(iv) below as to EPNG only) agree to pay to the Settlement Fund the principal amount of Eight Hundred Seventy-Five Million Six Hundred Twenty-Six Thousand Seventy Two Dollars ($875,626,072) (the "Deferred Payments"), which amount shall be paid in forty (40) semi-annual installments, each in the amount of $21,890,651.80, unless adjusted as provided below, commencing on July 1, 2004, and thereafter on the first day of each January and July until paid in full; provided, however, that: (A) if the Effective Date does not occur on or before July 1, 2004, then the first installment due hereunder (and any other installments due prior to the Effective Date) shall be paid into the Escrow Account on such date; and (B) if El Paso Corporation is Investment Grade for a period of at least six (6) consecutive months at any time after the date of this Agreement (but before January 1, 2019) and no Monetization has taken place, then all Deferred Payments outstanding shall, at the option of and after written notice by the Designated Representative, be reamortized, commencing as of the next payment date, to thereafter provide for equal semi-annual installments in an amount sufficient to retire the balance of the Deferred Payments by January 1, 2019; and (C) if El Paso Corporation is Investment Grade for a period of at least six (6) consecutive months at any time after the date of this Agreement (but before January 1, 2019) (the "Investment Grade Date") and one or more Monetizations have taken place while El Paso Corporation was not Investment Grade, then the Deferred Payments due hereunder shall, at the option of and after written notice to El Paso Corporation by the Designated Representative, be bifurcated into the following amortized obligations: (1) the Monetization obligations, which shall remain unchanged and continue to have a maturity date as set forth in the Monetization, and (2) an obligation having a maturity date of January 1, 2019, payable to the Settlement Fund in equal, semi-annual installments, commencing as of the next payment date, that has a discounted value as of the Investment Grade Date equal to the difference between the Investment Grade Discounted Amount of all Deferred Payments outstanding and the Non-Investment Grade Discounted Amount of all Deferred Payments outstanding used to secure the Monetization, using a discount rate of 7.48071747914203%.
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Related to Amount of Deferred Payments

  • Deferred Payments “Deferred Payments” means any severance pay or benefits to be paid or provided to Executive (or Executive’s estate or beneficiaries) pursuant to this Agreement and any other severance payments or separation benefits to be paid or provided to Executive (or Executive’s estate or beneficiaries), that in each case, when considered together, are considered deferred compensation under Section 409A.

  • Deferred Payment “Deferred Payment” means any severance pay or benefits to be paid or provided to Executive (or Executive’s estate or beneficiaries) pursuant to this Agreement and any other severance payments or separation benefits, that in each case, when considered together, are considered deferred compensation under Section 409A.

  • Past Due Payments Provide the grace period (number of days) before a late charge is due if the tenant is late with rent payments. Specify whether the late charge will be a percentage of the monthly rent or a dollar amount per day. 15.

  • Returned Payments If after receipt of any payment which is applied to the payment of all or any part of the Obligations (including a payment effected through exercise of a right of setoff), the Administrative Agent or any Lender is for any reason compelled to surrender such payment or proceeds to any Person because such payment or application of proceeds is invalidated, declared fraudulent, set aside, determined to be void or voidable as a preference, impermissible setoff, or a diversion of trust funds, or for any other reason (including pursuant to any settlement entered into by the Administrative Agent or such Lender in its discretion), then the Obligations or part thereof intended to be satisfied shall be revived and continued and this Agreement shall continue in full force as if such payment or proceeds had not been received by the Administrative Agent or such Lender. The provisions of this Section 2.21 shall be and remain effective notwithstanding any contrary action which may have been taken by the Administrative Agent or any Lender in reliance upon such payment or application of proceeds. The provisions of this Section 2.21 shall survive the termination of this Agreement.

  • Principal Payments (a) Borrower must pay Lender the outstanding principal amount of all Warehousing Advances on the Warehousing Maturity Date. (b) Except as otherwise provided in Section 3.1, Borrower may prepay any portion of the Warehousing Advances without premium or penalty at any time. (c) Borrower must pay to Lender, without the necessity of prior demand or Notice from Lender, and Borrower authorizes Lender to cause the Funding Bank to charge Borrower’s Operating Account for, the amount of any outstanding Warehousing Advance against a specific Pledged Asset upon the earliest occurrence of any of the following events: (1) One (1) Business Day elapses from the date a Warehousing Advance was made if the Pledged Loan to be funded by that Warehousing Advance is not closed and funded. (2) Ten (10) Business Days elapse without the return of a Collateral Document delivered by Lender to Borrower under a Trust Receipt for correction or completion. (3) On the date on which a Pledged Loan is determined to have been originated based on untrue, incomplete or inaccurate information or otherwise to be subject to fraud, whether or not Borrower had knowledge of the misrepresentation, incomplete or incorrect information or fraud, on the date on which Borrower knows, has reason to know, or receives Notice from Lender, that (A) one or more of the representations and warranties set forth in Article 9 were inaccurate or incomplete in any material respect on any date when made or deemed made, or (B) Borrower has failed to perform or comply with any covenant, term or condition set forth in Article 9. (4) On the date the Pledged Loan or a Lien prior to the Mortgage securing repayment of the Pledged Loan is defaulted and remains in default for a period of 60 days or more. (5) Upon the sale, other disposition or prepayment of any Pledged Asset or, with respect to a Pledged Loan included in an Eligible Mortgage Pool, upon the sale or other disposition of the related Agency Security. (6) One (1) Business Day immediately preceding the date scheduled for the foreclosure or trustee sale of the premises securing a Pledged Loan. (7) If the outstanding Warehousing Advances against Pledged Loans of a specific type of Eligible Loan exceed the aggregate Purchase Commitments for that type of Eligible Loan.

  • Required Payments Unless otherwise provided in this Agreement, any payment of Tax required shall be due within 30 days of a Final Determination of the amount of such Tax.

  • Scheduled Payments No Receivable has a final scheduled payment date later than six months preceding the Final Scheduled Maturity Date.

  • Distributions Payable in Cash; Redemption Payments In the event that the Board of the Investment Company shall declare a distribution payable in cash, the Investment Company shall deliver to FTIS written notice of such declaration signed on behalf of the Investment Company by an officer thereof, upon which FTIS shall be entitled to rely for all purposes, certifying (i) the amount per share to be distributed, (ii) the record and payment dates for the distribution, and (iii) that all appropriate action has been taken to effect such distribution. Once the amount and validity of any dividend or redemption payments to shareholders have been determined, the Investment Company shall transfer the payment amounts from the Investment Company's accounts to an account or accounts held in the name of FTIS, as paying agent for the shareholders, in accordance with any applicable laws or regulations, and FTIS shall promptly cause payments to be made to the shareholders.

  • Delayed Payments The Parties hereto agree that payments due from one Party to the other Party under the provisions of this Agreement shall be made within the period set forth therein, and if no such period is specified, within 30 (thirty) days of receiving a demand along with the necessary particulars. Unless otherwise specified in this Agreement, in the event of delay beyond such period, the defaulting Party shall pay interest for the period of delay calculated at a rate equal to 5% (five per cent) above the Bank Rate, and recovery thereof shall be without prejudice to the rights of the Parties under this Agreement including Termination thereof.

  • Amount of Payments For purposes of this Agreement, a “Tax Benefit Payment” with respect to any Member means an amount, not less than zero, equal to the sum of: (i) the Net Tax Benefit that is Attributable to such Member and (ii) the Actual Interest Amount.

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