Calculation and Settlement Sample Clauses

Calculation and Settlement. (1) SK and Gmarket shall at each month-end calculate the OKCashbag Point Amount (A), the Used Points (B), and the Service Commission (C) of the relevant month into a mutually agreed upon payment unit and make settlement based on the following formula, pursuant to Paragraphs (2) and (3) below: i. If [A+C] exceeds B, [(A+C)-B] shall be the settlement amount; and ii. If [A+C] is less than B, [B-(A+C)] shall be the settlement amount. (2) If [A+C] exceeds B as a result of the calculation under Paragraph (1) above, SK shall submit to Gmarket an invoice for the settlement amount under paragraph (1), subparagraph (i) within 10 days from the calculation, and Gmarket shall deposit the payment to a bank account designated by SK in cash within 10 days from receipt of the invoice. In connection herewith, SK may request Gmarket to settle the amount through automatic bank transfer, in which case, Gmarket shall open an account for automatic bank transfer at a bank consented by SK and allow SK to withdraw from the relevant account the settlement amount for the preceding month in cash on the 17th date (if this date is not a working day for financial institutions, the following working day) of every month. (3) If [A+C] is less than B as a result of the calculation under Paragraph (1) above, Gmarket shall submit to SK an invoice of the calculated settlement amount under paragraph (1), subparagraph (ii) within 10 days from the date of calculation, and SK shall deposit in cash the payment into the bank account designated by Gmarket within 10 days from receipt of the invoice. (4) If after settlement pursuant to Paragraphs (2) and (3) of this Article, a transaction between Gmarket Place of Business and a Member is cancelled, the cancellation shall be reflected at the next settlement, unless otherwise agreed. (5) Any party contesting the settlement under paragraphs (2) and (3) above shall raise objection within 14 days from the date of completion of settlement, and if the settlement is confirmed by both parties to have been erroneous, the difference shall be reflected at the next settlement. (6) If the settlement under Paragraphs (2) and (3) is delayed, the responsible party shall pay the other party a default interest (defaulted principal x default interest rate x number of defaulted days/365) for the number of delayed days. In such case, the default interest rate shall be the average default interest rate of general loan accounts of a bank designated by SK. (7) In case settlemen...
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Calculation and Settlement. (1) SK and Interpark Gmarket shall calculate the Commission for the relevant month as of the end of every month, and Gmarket shall transfer the Commission confirmed and determined by both Parties to a bank account designated by SK in cash by the 25th date of the next following month. (2) If a customer cancels purchase of products at the linked Gmarket mall after the settlement thereof under paragraph (1), the cancellation shall be reflected in the next calculation, unless otherwise agreed between both Parties. (3) A Party contesting the settlement under paragraph (1) shall file its claim within 15 days from the date of completion of settlement, and if the settlement is found by both Parties to be erroneous, the amount of the relevant difference shall be reflected in the next settlement. (4) If the settlement under paragraph (1) is delayed, Gmarket shall pay a default interest (defaulted principal x default interest rate x number of defaulted days/365) for the number of delayed days to SK. In such case, the default interest rate shall be the average interest rate of general loans of a bank designated by SK. [****] = MATERIAL OMITTED: CONFIDENTIAL TREATMENT HAS BEEN REQUESTED AND FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION.
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Calculation and Settlement. 6.1. The cost of the services rendered by the Contractor and possible payment procedures are posted on the site. The cost of the Services is indicated in the appendix to this Contract and is stated in the invoice for payment. 6.2. Payment for the Services rendered under this Contract is carried out on the basis of one hundred percent prepayment and in the manner established by this Contract.
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Calculation and Settlement 
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Related to Calculation and Settlement

  • PAYMENT AND SETTLEMENT You shall deliver to the Manager on the date and at the place and time specified in the applicable AAU (or on such later date and at such place and time as may be specified by the Manager in a subsequent Wire) the funds specified in the applicable AAU, payable to the order of Xxxxxxx Xxxxx Xxxxxx Inc., for (i) an amount equal to the Offering Price plus (if not included in the Offering Price) accrued interest, amortization of original issue discount or dividends, if any, specified in the Prospectus or Offering Circular, less the applicable Selling Concession in respect of the Firm Securities to be purchased by you, (ii) an amount equal to the Offering Price plus (if not included in the Offering Price) accrued interest, amortization of original issue discount or dividends, if any, specified in the Prospectus or Offering Circular, less the applicable Selling Concession in respect of such of the Firm Securities to be purchased by you as shall have been retained by or released to you for direct sale as contemplated by Section 3.6 hereof or (iii) the amount set forth or indicated in the applicable AAU, as the Manager shall advise. You shall make similar payment as the Manager may direct for Additional Securities, if any, to be purchased by you on the date specified by the Manager for such payment. The Manager will make payment to the Issuer or Seller against delivery to the Manager for your account of the Securities to be purchased by you, and the Manager will deliver to you the Securities paid for by you which shall have been retained by or released to you for direct sale. If the Manager determines that transactions in the Securities are to be settled through the facilities of DTC or other clearinghouse facility, payment for and delivery of Securities purchased by you shall be made through such facilities, if you are a member, or, if you are not a member, settlement shall be made through your ordinary correspondent who is a member.

  • On Reconciliation and Settlement If the year-end reconciliation and settlement process demonstrates that the HSP received Funding in excess of its confirmed funds, the LHIN will require the repayment of the excess Funding.

  • CLOSING AND SETTLEMENT Seller/Landlord shall determine the title company at which settlement shall occur and shall inform Buyer/Tenant of this location in writing. Buyer/Tenant agrees that closing costs in their entirety, including any points, fees, and other charges required by the third-party lender, shall be the sole responsibility of Buyer/Tenant. The only expense related to closing costs apportioned to Seller/Landlord shall be the pro-rated share of the ad valorem taxes due at the time of closing, for which Seller/Landlord is solely responsible.

  • Clearance and Settlement If the Pricing Agreement specifies that the Securities will clear and settle through one or more clearing systems, the Securities will be eligible for clearance and settlement through such clearing system or systems.

  • Defense and Settlement The Receiver shall have the right, in its discretion, to (i) defend or settle any claim or suit against the Assuming Institution with respect to which the Receiver has indemnified the Assuming Institution in the same manner and to the same extent as provided in Article XII, and (ii) defend or settle any claim or suit against the Assuming Institution with respect to any Liability Assumed, which claim or suit may result in a loss to the Receiver arising out of or related to this Agreement, or which existed against the Failed Bank on or before the Bank Closing Date. The exercise by the Receiver of any rights under this Section 9.3(a) shall not release the Assuming Institution with respect to any of its obligations under this Agreement.

  • Vesting and Settlement The Restricted Shares shall cease to constitute Restricted Shares, and shall become unrestricted Shares, pursuant to the vesting schedule attached as Exhibit A.

  • The Settlement Following mediation with a neutral party, a Settlement has been reached. As part of the Settlement, a Qualified Settlement Fund of $39,500,000 will be established to resolve the Class Action. The Net Settlement Amount is $39,500,000 minus any Administrative Expenses (including taxes and tax expenses), Court-approved Attorneys’ Fees and Costs, and Class Representative Compensation. The Net Settlement Amount will be allocated to Class Members according to a Plan of Allocation to be approved by the Court.

  • Cash Settlement If Cash Settlement is applicable to any Option exercised or deemed exercised hereunder, in lieu of Section 8.1 of the Equity Definitions, Dealer will pay to Counterparty, on the relevant Settlement Date for each such Option, an amount of cash (the “Cash Settlement Amount”) equal to the sum, for each Valid Day during the Settlement Averaging Period for such Option, of (i) the Daily Option Value for such Valid Day, divided by (ii) the number of Valid Days in the Settlement Averaging Period.

  • Cashless Settlement Notwithstanding anything to the contrary contained in this Agreement, any Lender may exchange, continue or rollover all or a portion of its Loans in connection with any refinancing, extension, loan modification or similar transaction permitted by the terms of this Agreement, pursuant to a cashless settlement mechanism approved by the Borrower, the Administrative Agent and such Lender.

  • Time of Settlement RSUs shall be settled promptly upon expiration of the Restricted Period without forfeiture of the RSUs (i.e., upon vesting), but in any event within 60 days after expiration of the Restricted Period, by delivery of one share of Common Stock for each RSU being settled, or, at the discretion of the Company, the cash equivalent thereof; provided, however, that settlement of an RSU shall be subject to Plan Section 11(k), including if applicable the six-month delay rule in Plan Sections 11(k)(i)(C)(2) and 11(k)(i)(G); provided further, that no dividend or dividend equivalents will be paid, accrued or accumulated in respect of the period during which settlement was delayed. (Note: This rule may apply to any portion of the RSUs that vest after the time you become Retirement eligible under the Plan, and could apply in other cases as well). Settlement of RSUs which directly or indirectly result from adjustments to RSUs shall occur at the time of settlement of, and subject to the restrictions and conditions that apply to, the granted RSUs. Settlement of cash amounts which directly or indirectly result from adjustments to RSUs shall be included as part of your regular payroll payment as soon as administratively practicable after the settlement date for the underlying RSUs, and subject to the restrictions and conditions that apply to, the granted RSUs. Until shares are delivered to you in settlement of RSUs, you shall have none of the rights of a stockholder of the Company with respect to the shares issuable in settlement of the RSUs, including the right to vote the shares and receive actual dividends and other distributions on the underlying shares of Common Stock. Shares of stock issuable in settlement of RSUs shall be delivered to you upon settlement in certificated form or in such other manner as the Company may reasonably determine. At that time, you will have all of the rights of a stockholder of the Company.

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