Annual Installments. The Optionee shall have the right hereunder to purchase from the Company the following number of Option Shares upon exercise of the Options, on and after the following dates, in cumulative fashion:
Annual Installments. A Participant entitled to elect to defer -------------------- distribution of his Plan Benefit under Subsection 9(b)(i) may elect to have the distribution paid in cash over an installment period of not more than 10 years. Such election must be filed with UDLP on the prescribed form before the date employment terminates, before the Participant dies, or before UDLP determines that the Participant is permanently and totally disabled, as the case may be, and shall, except as provided in Subsection 9(f), be irrevocable. The election shall specify the number of annual installments. If an installment election is made, the Plan Benefit shall be distributed in annual installments as follows: The amount of each annual installment shall be paid during the first month of the year. The value of Stock and/or cash SECTION 9(b)(ii) to be distributed in each installment shall be determined by dividing the amount of Stock and/or cash credited to the Participant's Plan Benefit account as of the date the installment is being paid by the total number of annual installments elected minus the number of annual installments which have previously been paid. The amount payable with respect to the Stock portion of the installment shall be determined as of the Valuation Date immediately preceding the date payment is made.
Annual Installments. Unless Lessee chooses to prepay the annual Rent amount for the entire Term of this Lease, Rent will be paid in annual installments, in advance, commencing on the Commencement Date, and on each anniversary of the Commencement Date, during the Term. Any Rent pre-paid to the City as provided herein shall not be repaid or refunded to Lessee upon any early termination of this Lease.
Annual Installments. The Corporation shall use its best efforts to maximize the amount of cash which is payable to the Buyer upon exercise of the Buyer's Put.
Annual Installments. Buyer, its Affiliates, successors, or assigns, agree to pay Parent, for the benefit of Seller, a percentage of the annual revenue generated in the Area for either a period of five (5) years after the Closing or until such payments total six hundred twenty two thousand dollars ($622,000.), whichever occurs first, calculated as follows:
(i) At Closing, Buyer will advance Parent, for the benefit of Seller, a non-refundable sum of two hundred thousand dollars ($200,000.) ("Initial Advance"). Within thirty days after the close of Buyer's fiscal year, Buyer will pay Seller a percentage of total gross revenues (determined in accordance with Generally Accepted Accounting Principles) generated in the Area during the prior twelve months of the Buyer's fiscal year, as calculated below, provided however that the first payment due hereunder shall be based upon revenues derived from the Closing until March 31, 1998 (the "Annual Installment"). The final payment will be paid forty-five (45) days after August 1, not March 31.
(ii) Up to seventy five thousand dollars ($75,000) of each Annual Installment shall be credited against the Buyer's Initial Advance, until the cumulative amount of such credits equals $200,000. Should any Annual Installment exceed seventy five thousand dollars ($75,000), Buyer will pay Seller the remaining balance due on the Annual Installment. Fiscal Year Gross Revenue Ranges | Percentage Payments to Seller For (millions) | Revenue within Ranges ---------------------------------|----------------------------------- | For revenue less than $1.5 | 4.0 % For revenue between $1.5 - $2.5 | 3.0 % For revenue between $2.5 - $4.0 | 1.5 % For revenue of $4 and greater | 0.5 % Below is an example of how the Annual Installment would be calculated if in year one the fiscal year gross revenue was $2,850,000: Annual Installment Revenue Percentage Payment Payment Amount ----------------------------------- ------------ ----------- ------------- For revenue less than $1.5 $1,500,000 4.0 % $ 60,000 For revenue between $1.5 - $2.5 $1,000,000 3.0 % $ 30,000 For revenue between $2.5 - $4.0 $ 350,000 1.5 % $ 5,250 ---------- ----------- ------------- Gross Amount Due $ 95,250 Credit Towards Initial Advance $ 75,000 ------------- ANNUAL INSTALLMENT DUE TO PARENT $ 20,250 ========================= =============
(iii) The Buyer shall provide the Seller with a statement of revenue generated in the Area, in the form of Schedule 3.2
Annual Installments. The Borrower has prepaid one (1) installment on April 1, 1995 in the amount of $8333.00 and one (1) installment in the amount of $22,619.75 on or before April 1, 1996, and the Borrower shall prepay three (3) installments in the amounts of $22,916.75 each, payable on or before the first day of each April of each year beginning April 1, 1997 ("Mandatory Prepayment") which Mandatory Prepayment shall be applied to installments of principal of the Note in inverse order of maturity. Any prepayment in any Plan Year exceeding the amount of the required Mandatory Prepayment shall be applied to the Mandatory Prepayment due in the immediately succeeding year or years, until the Borrower has prepaid the full $100,000 which must be paid pursuant to this Section 2.4(c).
Annual Installments. No Option shall be exercisable (i) before one (1) year after the Date of Grant, or (ii) after the Expiration Date (“Exercise Period”); provided, however, that in no event shall the Option be exercisable after the expiration of ten (10) years from the Date of Grant. Within the Exercise Period, unless the Committee establishes otherwise and except as provided in subsections (d), (e) and (f) of this Section 4, the Option will become exercisable by Optionee in equal annual installments on the first five (5) anniversaries of the Date of Grant as shown on the cover page of this Agreement. Any Option installment which first becomes exercisable on the fifth anniversary of the Date of Xxxxx shall be exercisable on that Date. Each installment, once accrued, shall be exercisable in whole at any time, or in part from time to time (in blocks of 25 shares or any multiple thereof) during the Exercise Period.
Annual Installments. Annual principal installment payments shall be made to the registered owner of the Bond on the dates and in the amounts shown below: Payment Date Principal Installment Coupon 08/01/2021 $110,000 2.150% 08/01/2022 $110,000 2.150% 08/01/2023 $115,000 2.150% 08/01/2024 $110,000 2.150% 08/01/2025 $115,000 2.150% 08/01/2026 $120,000 2.150% 08/01/2027 $125,000 2.150% 08/01/2028 $125,000 2.150% 08/01/2029 $130,000 2.150% 08/01/2030 $135,000 2.150% 08/01/2031 $135,000 2.150% 08/01/2032 $140,000 2.150% 08/01/2033 $140,000 2.150% 08/01/2034 $140,000 2.150% 08/01/2035 $145,000 2.150% 08/01/2036 * $145,000 2.150%
Annual Installments. All payments of annual Net Rent shall be made in arrears, in annual installments, without notice, on or prior to the last day of each Lease Year.
Annual Installments. If annual installments, specify the day and the month the rent is due (e.g., 1st day of January). Select whether the landlord will assess a fee for late rent.
