Conditional Payment. Borrowers agree that checks and other instruments received by Agent on behalf of Lenders or by any Lender in payment or on account of the Indebtedness constitute only conditional payment until such items are actually paid to Agent or such Lender.
Conditional Payment. Employee’s right to receive payments of salary continuation, benefits continuation or other non-vested compensation described in Section 5.2 is conditioned upon Employee’s full compliance with Section 6. If Employee fails to comply with the obligations set forth in Section 6 as reasonably determined by the Chief Executive Officer, the Board of Directors of Employer, or a committee of the Board, within eighteen (18) months after Employee’s termination, then Employee shall not be entitled to any further salary continuation, benefits continuation or other non-vested compensation from Employer.
Conditional Payment. All funds received by Lender from Obligors will be subject to Lender's standard clearing procedures and clearing periods for uncollected funds as such procedures and clearing periods may change from time-to-time. Obligors waive any rights they may have to direct the application of any and all payments at any time or times hereafter received by Lender on account of the Indebtedness. Obligors agree that Lender shall have the continuing exclusive right to apply and reapply such payments in any manner, as Lender may deem advisable, notwithstanding any entry by Lender upon its books; provided, however, that so long as no Lenders' Costs, interest, principal or any other amount owing under this Agreement and the other Loan Documents is due and no Potential Default or Event of Default has occurred and is continuing, Obligors may direct the prepayment of the Term Loan in accord with Paragraph 2.2.6 hereof.
Conditional Payment. No payment by Tenant or receipt by Landlord of a lesser amount than the total of all sums due hereunder shall be deemed other than on account of the earliest stipulated rent, nor shall any endorsement or statement on any check, or any letter accompanying any check or payment as rent, be deemed an accord or satisfaction, and Landlord may accept such cash and/or negotiate such check or payment without prejudice to Landlord’s right to recover the balance of such rent, or Landlord may pursue any of its other remedies provided in this Lease or otherwise, regardless of whether Landlord makes any notation on such instrument of payment or otherwise notifies Tenant that such acceptance, cashing or negotiation is without prejudice to Landlord’s rights.
Conditional Payment. (a) In the event that the Vendors have not received, by no later than the date which is 13 months following Closing Date (the “First Benchmark Date”), an amount equal to the Second Payment, through the sale of all of the Clearly Shares (the “Second Payment Shares”) issued by the Purchaser to the Vendors in accordance with the provisions of Section 2.2(b) hereof, net of sales commissions and other costs of disposition (the “Second Payment Share Sale Proceeds”), the Vendors will have the right to demand that Purchaser make a payment to the Vendors, within 15 business days of Purchaser receiving written notice from the Vendors of demand for such payment, by certified cheque, bank draft or other source of immediately available funds, an amount equal to the difference obtained by subtracting the Second Payment Share Sale Proceeds from the Second Payment (the “Second Payment Shortfall”). The Vendors will forfeit their right to receive the Second Payment Shortfall if the Vendors have not sold all of the Second Payment Shares prior to the First Benchmark Date.
(b) In the event that the Vendors have not received, by no later than the date which is 25 months following the Closing Date (the “Second Benchmark Date”), an amount equal to the Third Payment, through the sale of all of the Clearly Shares (the “Third Payment Shares”) issued by the Purchaser to the Vendors in accordance with the provisions of Section 2.2(c) hereof, net of sales commissions and other costs of disposition (the “Third Payment Share Sale Proceeds”), the Vendors will have the right to demand that Purchaser make a payment to the Vendors, within 15 business days of Purchaser receiving written notice from the Vendors of demand for such payment by certified cheque, bank draft or other source of immediately available funds, an amount equal to the difference obtained by subtracting the Third Payment Share Sale Proceeds from the Third Payment (the “Third Payment Shortfall”). The Vendors will forfeit their right to receive the Third Payment Shortfall if the Vendors have not sold all of the Third Payment Shares prior to the Second Benchmark Date.
(c) In the event that the Vendors have not received, by no later than the First Benchmark Date, a net amount of $3,750,000 through the purchase and sale of all, or any, of the Clearly Shares issuable upon exercise of the Warrants (the “Warrant Proceeds”), the Vendors will have the right, within 10 days of the First Benchmark Date, to demand that Purchaser pay the...
Conditional Payment. Payment for the services is conditioned upon the City’s receipt of the following:
a. Properly executed Affidavit of Funeral Home Director, a copy of which is attached as Exhibit A; b.Properly executed Financial Disclosure & Affidavit of Indigency, a copy of which is attached as Exhibit B;
Conditional Payment. Upon termination of the Severance Period, and provided Xxxxx has failed to commence alternative employment, Egghead shall continue to pay Xxxxx his current annual base salary, less any lawful withholding, in bi-weekly installments for a period that will terminate on the earlier of: (i) nine (9) months from the ending date of the Severance Period; or (ii) the date Xxxxx commences alternative employment (the "Extension Period"). Such extension payments shall be paid at normal bi-weekly payroll intervals. Xxxxx shall not be entitled to vacation pay accrual during the Extension Period. From time to time during the Extension Period, but in no event more frequently than monthly, Xxxxx will be available to orally (by telephone) update either the President or Chief Financial Officer of Egghead, Inc. on the status of his efforts to obtain alternative employment, and he will notify Egghead in writing within ten (10) days after accepting alternative employment. Upon accepting new employment, Xxxxx will not unreasonably delay commencing work for his new employer in order to continue receiving payments during the Extension Period. For purposes of this Agreement, "alternative employment" is defined as any business relationship from which Xxxxx receives W-2/1099 wages equal to fifty percent (50%) or more of his average monthly Egghead severance payment as herein described in Section 2(a).
Conditional Payment. Promptly after the final determination of the Realized Value of the Retained Category B Interests pursuant to Section 4.1 hereof, USCC shall certify by written notice to TDS the amount of the excess, if any, of (a) the Aggregate Accreted Value over (b) the Aggregate Realized Value. For purposes of calculating adjustments to the Aggregate Accreted Value of a Cellular Interest based on changes in the Consumer Price Index, such adjustment shall be computed by applying to the Assigned Value an adjustment amount, expressed as a percentage, which shall be equal to the percentage by which the Consumer Price Index for the most recent calendar month ending at least 90 days prior to the Fifth Anniversary exceeds the Consumer Price Index for the most recent calendar month ending at least 90 days prior to the Final Closing Date. Within five (5) business days of its receipt of such notice, TDS shall (i) pay to USCC the amount of such excess in cash, by wire transfer or by certified check, or (ii) deliver to USCC that number of Common Shares, par value $1.00 per share, of USCC having an aggregate fair market value (as hereinafter defined) equal to the amount of such excess, or (iii) pay a portion of such amount in cash and a portion by delivering Common Shares of USCC. The fair market value of any USCC Common Shares delivered by TDS in accordance with the preceding sentence shall be the average of the closing prices for such shares on the AMEX (or the principal exchange on which such shares trade) for the twenty (20) trading days preceding the date on which such shares are delivered.
Conditional Payment. Borrowers agree that checks and other instruments received by Bank in payment or on account of the Indebtedness constitute only conditional payment until such items are actually paid to Bank. Subject to Section 2.4.8.1 hereof, Borrowers waive any right they may have to direct the application of any and all payments at any time or times hereafter received by Bank on account of the Indebtedness. Borrowers agree that Bank shall have the continuing exclusive right to apply and reapply such payments in any manner as Bank may deem advisable, notwithstanding any entry by Bank upon its books.
Conditional Payment. The payment of the Grant shall be conditional on i) the submission of the complete documentation (incl. scientific program) for every Event and ii) approval of such documentation based on MedTech Europe’s Code of Ethical Business Practice. Should the documentation for some of the Events be not complete, the part of the Grant amount regarding these Events shall be conditioned on completion and approval of such documentation before the Event takes place. Should the documentation be incomplete or should it according to Xxxxxx Biomet not meet the MedTech Europe’s Code criteria no payment will be due to the Grant Recipient.
