Cessation of Payment Sample Clauses

Cessation of Payment. The Trustee shall cease payment of benefits to Recipients or, if applicable, their Beneficiaries in the event of the Bank's insolvency. The Bank shall be considered insolvent for purposes of this RRP if the Bank is unable to pay its debts as they become due or if a receiver is appointed for the Bank under applicable law. If payments cease by reason of this subsection, payments will be resumed, with appropriate make-up payments, once the Bank ceases to be insolvent but only to the extent the payments were not made directly by the Bank or its Affiliates.
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Cessation of Payment. The Trustee shall cease payment of benefits to Recipients or, if applicable, their Beneficiaries in the event of the Association's insolvency. The Association shall be considered insolvent for purposes of this RRP if the Association is unable to pay its debts as they become due or if a receiver is appointed for the Association under applicable law. If payments cease by reason of this subsection, payments will be resumed, with appropriate make-up payments, once the Association ceases to be insolvent but only to the extent the payments were not made directly by the Association or its Affiliates.
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Cessation of Payment. The Borrower states in writing that it is unable to pay its debts as they become due.
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Cessation of Payment. The Trustee shall cease payment of benefits to Recipients or, if applicable, their Beneficiaries in the event of the Bank's or Thrift's insolvency. The Bank or Thrift shall be considered insolvent for purposes of this RRP if the Bank or Thrift is unable to pay its debts as they become due or if a receiver is appointed for the Bank or Thrift under applicable law. If payments cease by reason of this subsection, payments will be resumed, with appropriate make-up payments, once the Bank or Thrift ceases to be insolvent but only to the extent the payments were not made directly by the Bank, the Thrift or their Affiliates.
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Cessation of Payment. 5.1. The Authority’s responsibility for providing financial support under this Instruction will cease on the 12 month anniversary of a Beneficiary’s arrival into the UK under the Programme.
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Cessation of Payment. If on the date (the "Two Year Date"), which is two (2) yeas after the day first set forth above, there does not exist a valid United Sates patent showing COMPANY as the inventor and covering any one or more aspects of the Devices, then from and after the Two Year Date no Fees, Royalties or Sublicensing Royalties shall be due or payable by LICENSEE to COMPANY pursuant to Section 3.1 above for the affected Devices, but the license granted by COMPANY to LICENSEE pursuant to Article 2 above shall remain is full force and effect. In addition, if on the Two Year Date there does exist a valid United Sates patent showing COMPANY as the inventor and covering any one or more aspects of the Devices, but at any date thereafter there is no patent covering one or more aspects of the Devices that is valid or enforceable, then from and after such date no Fees, Royalties or Sublicensing Royalties shall be due or payable by LICENSEE to COMPANY pursuant to Section 3.1 above for the affected Devices, but the license granted by COMPANY to LICENSES pursuant to Article 2 above shall remain is full force and effect. Notwithstanding either of the immediately foregoing sentences, if at any time after the Two Year Date LICENSEE desires to make or have made the Devices, and such making or having made the Devices would not (without regard to any license, covenant not to xxx, consent or other agreement or arrangement with any third party) infringe any proprietary rights of any third party, then LICENSEE will pay COMPANY Fees, Royalties and Sublicensing Royalties reduced by a rate negotiated in good faith by LICENSEE and COMPANY.
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Cessation of Payment. The right to discontinue the payment of any amounts owing under this Agreement specifically including, without limitation, the Special Retirement Payment.
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Related to Cessation of Payment

  • Cessation of Payments The right to cease all severance payments to Executive hereunder.

  • Termination of Payments Notwithstanding section 2.2, no payments shall be due to Purchaser afler Purchaser has received an aggregate amount under this Note, including payments made by the Company pursuant to section 2.3, equal to (i) the Principal Amount (as defined in the Investor Information Sheet above), multiplied by (ii) the Maximum Payment Multiple. We refer to the result of this multiplication as the “Maximum Payment Amount.”

  • Acceleration of Payment Notwithstanding anything to the contrary contained in this Agreement, the Committee shall have the right, at any time in its sole discretion, to accelerate the time of a payment under this Agreement to a time otherwise permitted under Section 409A in accordance with the requirements, restrictions and limitations of Treasury Regulation Section 1.409A-3(j).

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

  • Suspension of Payments This Grant Agreement may be subject to suspension of payments or termination, or both if the State determines that:

  • Confirmation of Payment The Administrative Agent and the Lenders will, upon request after payment of the Credit Party Obligations which are the subject of this Guaranty and termination of the Commitments relating thereto, confirm to the Borrower, the Guarantors or any other Person that such indebtedness and obligations have been paid and the Commitments relating thereto terminated, subject to the provisions of Section 10.2.

  • Termination of Payment Fund Any portion of the Payment Fund (including any interest received with respect thereto) that remains undistributed to the holders of Common Shares for one year after the Effective Time shall be delivered to Parent (or its designee), and any holder of Common Shares who has not theretofore complied with this Article II shall thereafter look only to Parent (subject to abandoned property, escheat or other similar Laws) for payment of its claim for Merger Consideration without any interest thereon.

  • APPROPRIATION OF PAYMENTS 14.1 Any and all payments received by DBS from or for the account of the Cardmember may be applied and appropriated by DBS in relation to such Card Account for which the Cardmember is liable as DBS may determine or select and in relation to such of the entries or transactions constituting the Outstanding Balance on such Card Account as DBS may determine or select notwithstanding any specific appropriation by the person making the payment or any other person.

  • Acceleration of Payments Except as specifically permitted herein, no acceleration of the time or schedule of any payment may be made hereunder. Notwithstanding the foregoing, payments may be accelerated, in accordance with the provisions of Treasury Regulation §1.409A-3(j)(4) in the following circumstances: (i) as a result of certain domestic relations orders; (ii) in compliance with ethics agreements with the federal government; (iii) in compliance with the ethics laws or conflicts of interest laws; (iv) in limited cashouts (but not in excess of the limit under Code §402(g)(1)(B)); (v) to pay employment-related taxes; or (vi) to pay any taxes that may become due at any time that the Agreement fails to meet the requirements of Code Section 409A.

  • Reduction of Payments Any reduction under Subsection (b) above shall be applied first to Payments that constitute “deferred compensation” (within the meaning of Section 409A of the Code and the regulations thereunder). If there is more than one such Payment, then such reduction shall be applied on a pro rata basis to all such Payments. Subject to the foregoing rules, the Employee may elect, in the Employee’s sole discretion, which and how much of the Payments shall be eliminated or reduced (as long as after such election the aggregate present value of the Payments equals the Reduced Amount) and shall advise the Company in writing of the Employee’s election within 10 business days of receipt of notice. If no such election is made by the Employee within such 10-day period, then the Company may elect which and how much of the Payments shall be eliminated or reduced (as long as after such election the aggregate present value of the Payments equals the Reduced Amount) and shall notify the Employee promptly of such election. For purposes of this Section 3, a present value shall be determined in accordance with Section 280G(d)(4) of the Code. All determinations made by the Accounting Firm under this Section 3 shall be binding upon the Company and the Employee and shall be made within 10 business days of the date when a Payment becomes payable or transferable. As promptly as practicable following such determination and the elections hereunder, the Company shall pay or transfer to or for the benefit of the Employee such amounts as are then due to the Employee and shall promptly pay or transfer to or for the benefit of the Employee in the future such amounts as become due to the Employee.

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