Calculation of Partial Termination Payment Sample Clauses

Calculation of Partial Termination Payment. The "Base Partial Termination Payment" shall be equal to (1) negative eighteen million two hundred fifty thousand U.S. dollars (-US$18,250,000) plus (2) the product of negative fifty-six million five hundred thousand U.S. dollars (-US$56,500,000) times the NYMEX Price Differential. An example of this calculation is shown on Appendix B. (a) If the Base Partial Termination Payment is a positive number, then NEA shall pay to ProGas the NEA Partial Termination Payment, which shall be an amount equal to the Base Partial Termination Payment, but in no event in excess of twenty million U.S. dollars (US$20,000,000) (the "NEA Payment Cap"); provided, however, if the Base Partial Termination Payment exceeds the NEA Payment Cap, then ProGas shall accept payment of the NEA Partial Termination Payment in the amount of the NEA Payment Cap and the Contract shall be amended so that the Remaining Daily Contract Quantity shall be an amount equal to the difference between (A) 35,418 MMBtus/day and (B) the product of a fraction, the numerator of which is equal to twenty million U.S. Dollars (US$20,000,000) and the denominator of which is equal to the Base Partial Termination Payment, multiplied by 22,911 MMBtus/day; provided that in no event shall such amount be in excess of 19,418 MMBtus/day (the "NEA Threshold"). If the Remaining Daily Contract Quantity as calculated pursuant to the preceding sentence exceeds the NEA Threshold, then: (1) ProGas shall notify NEA, concurrently with providing documentation of its calculation of the amounts in Section 3.2(a) above, as to whether ProGas elects to accept payment of the NEA Partial Termination Payment in the amount of the NEA Payment Cap and to adjust the Remaining Daily Contract Quantity to an amount equal to the NEA Threshold, or (2) If ProGas' notice provided for in Section 3.2(a)(1) states that ProGas declines to accept the election described in Section 3.2(a)(1), then within one (1) Business Day of receipt of such notice, NEA shall notify ProGas as to whether NEA agrees to waive the NEA Payment Cap and pay to ProGas an amount equal to (A) the Base Partial Termination Payment multiplied by (B) a fraction, the numerator of which is 16,000 MMBtus/day and the denominator of which is 22,911 MMBtus/day and to adjust the Remaining Daily Contract Quantity to an amount equal to the NEA Threshold. If ProGas declines to accept its election under Section 3.2(a)(1) and NEA declines to exercise its election under Section 3.2(a)(2), the Par...
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Related to Calculation of Partial Termination Payment

  • Termination Giving Rise to a Termination Payment If there is a Covered Termination by the Executive for Good Reason, or by the Company other than by reason of (i) death, (ii) disability pursuant to Section 11, or (iii) Cause, then the Executive shall be entitled to receive, and the Company shall promptly pay, Accrued Benefits and, in lieu of further base salary for periods following the Termination Date, as liquidated damages and additional severance pay and in consideration of the covenant of the Executive set forth in Section 13(a), the Termination Payment pursuant to Section 8(a).

  • Termination for Non-Payment In the event that full payment of any or all fees due to Escrow Associates under this Agreement have not been received by Escrow Associates within thirty (30) days of the date payment is due, Escrow Associates will notify all parties hereto of the delinquent fees. If the delinquent fees are not received within thirty (30) days of the delinquency notification, Escrow Associates shall have the right to terminate this Agreement and destroy the Deposit Materials.

  • Payment upon Early Termination (a) Within three (3) calendar days after an Early Termination Effective Date, the Corporate Taxpayer shall pay to each TRA Party an amount equal to the Early Termination Payment in respect of such TRA Party. Such payment shall be made by wire transfer of immediately available funds to a bank account or accounts designated by such TRA Party or as otherwise agreed by the Corporate Taxpayer and such TRA Party or, in the absence of such designation or agreement, by check mailed to the last mailing address provided by such TRA Party to the Corporate Taxpayer.

  • Termination of Payments Upon the breach by Employee of any covenant under this paragraph 8, Employer shall cease all payments to Employee and may offset and/or recover from Employee immediately any and all amounts payable to Employee under this Agreement against any damages to which Employer is legally entitled in addition to any and all other remedies available to Employer under the law or in equity.

  • PAYMENTS TO EXECUTIVE UPON AN EVENT OF TERMINATION (a) Upon the occurrence of an Event of Termination (as herein defined) during the Executive's term of employment under this Agreement, the provisions of this Section shall apply. As used in this Agreement, an "

  • Calculation of Benefits Immediately following delivery of any Notice of Termination, the Company shall notify the Executive of the aggregate present value of all termination benefits to which he would be entitled under this Agreement and any other plan, program or arrangement as of the projected Date of Termination, together with the projected maximum payments, determined as of such projected Date of Termination that could be paid without the Executive being subject to the Excise Tax.

  • Entire Termination Payment The compensation provided for in this Article IV for early termination of this Agreement and termination pursuant to this Article IV shall constitute Executive's sole remedy for such termination. Executive shall not be entitled to any other termination or severance payment which may be payable to Executive under any other agreement between Executive and Ceridian.

  • Lump Sum Severance Payment Payment of a lump sum amount equal to twelve (12) months of Executive’s then-current Base Salary plus the Pro Rated Bonus, less all customary and required taxes and employment-related deductions, paid on the first payroll date following the date on which the Release required by Paragraph 4(g) becomes effective and non-revocable, but not after seventy (70) days following the effective date of termination from employment.

  • Partial Termination In the event of a partial termination, the Agreement shall continue to operate and be effective with regard to benefits accrued prior to the effective date of such partial termination, but no further benefits shall accrue after the date of such partial termination.

  • Payment Upon Termination Termination of this Agreement shall not affect the right of the Adviser to receive payment on any unpaid balance of the compensation described in Section 2 earned prior to such termination.

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