Contingent Incentive Payments for Currently Subcontracted Packages and PDIP/SOIC Packages Currently Sample Clauses

Contingent Incentive Payments for Currently Subcontracted Packages and PDIP/SOIC Packages Currently. Packaged for Parent by the Company. Subject to the other terms and conditions of this Section 3.1, during the period from the Closing Date to June 30, 2003, Parent shall be entitled to receive additional contingent incentive payments (the “Contingent Incentive Payments”) from Buyer based upon the achievement of the milestones set forth on Schedule 3.1 attached hereto with respect to the transfer of packaging business currently subcontracted by Parent to certain third parties and the transfer of PDIP/SOIC packages currently packaged for Parent by the Company to one of Buyer’s other qualified facilities. The achievement of the milestones on Schedule 3.1 are based on (i) all lead counts for the packages shown on Schedule 3.1 that Buyer offers to assemble, (ii) the assumption that Buyer is fully approved by Parent and Parent’s customers to provide packaging services at the qualified Buyer facility on or prior to the date specified on Schedule 3.1, (iii) the date of qualification being subject to a thirty (30) day grace period in the event of unforeseen delays, (iv) the assumption that at least 95% of the packaging services (based upon unit volumes) for each package type described on Schedule 3.1 are transferred to Buyer based on Parent’s best efforts within sixty (60) days after the date specified on Schedule 3.1 with respect to each such package type (other than immaterial packages which Buyer and Parent may subsequently mutually agree should not be transferred), it being agreed that all parties will use best efforts to transfer those packages sold through distribution sooner than the above milestones and (v) the assumption that, with respect to all remaining packaging services for each package type described on Schedule 3.1 that are not transferred to Buyer within the timeframe specified in clause (iv) above, Parent will continue to use its best efforts to transfer all such remaining packaging services to Buyer as soon as possible. Each of the parties hereto shall use best efforts to improve the qualification process and schedule. If such milestones are achieved in the case may be) specified on Schedule 3.1 under the heading “Contingent accordance with the requirements set forth in this Section 3.1 and Schedule 3.1, the amounts specified on Schedule 3.1 shall be paid to Parent by Buyer within five (5) business days after completion of each quarterly period (ending on March 31, June 30, September 30 or December 31, as Incentive Payments.”
AutoNDA by SimpleDocs

Related to Contingent Incentive Payments for Currently Subcontracted Packages and PDIP/SOIC Packages Currently

  • DISTRIBUTION OF CONTRACTOR PRICE LIST AND CONTRACT APPENDICES Contractor shall provide Authorized Users with electronic copies of the Contract, including price lists and Appendices, upon request. Contract Updates will be handled as provided in Appendix C – Contract Modification Procedures.

  • Treatment of Unallowable Costs Previously Submitted for Payment Mallinckrodt further agrees that within 120 days of the Effective Date of this Agreement it shall identify to applicable Medicare and TRICARE fiscal intermediaries, carriers, and/or contractors, and Medicaid and FEHBP fiscal agents, any Unallowable Costs (as defined in this Paragraph) included in payments previously sought from the United States, or any State Medicaid program, including, but not limited to, payments sought in any cost reports, cost statements, information reports, or payment requests already submitted by Mallinckrodt or any of its subsidiaries or affiliates, and shall request, and agree, that such cost reports, cost statements, information reports, or payment requests, even if already settled, be adjusted to account for the effect of the inclusion of the Unallowable Costs. Mallinckrodt agrees that the United States, at a minimum, shall be entitled to recoup from Mallinckrodt any overpayment plus applicable interest and penalties as a result of the inclusion of such Unallowable Costs on previously-submitted cost reports, information reports, cost statements, or requests for payment. Any payments due after the adjustments have been made shall be paid to the United States pursuant to the direction of the Department of Justice and/or the affected agencies. The United States reserves its rights to disagree with any calculations submitted by Mallinckrodt or any of its subsidiaries or affiliates on the effect of inclusion of Unallowable Costs (as defined in this Paragraph) on Mallinckrodt or any of its subsidiaries or affiliates’ cost reports, cost statements, or information reports.

  • Price Adjustments for OGS Centralized Contracts Periodic price adjustments will occur no more than twice per year on a schedule to be established solely by OGS. Pricing offered shall be fixed for the first twelve (12) months of the Contract term. Such price increases will only apply to the OGS Centralized Contracts and shall not be applied retroactively to Authorized User Agreements or any Mini-bids already submitted to an Authorized User. Price decreases may be made at any time. Additionally, some price decreases shall be calculated in accordance with Appendix B, section 17, Pricing.

  • CONDITIONS FOR EMERGENCY/HURRICANE OR DISASTER - TERM CONTRACTS It is hereby made a part of this Invitation for Bids that before, during and after a public emergency, disaster, hurricane, flood, or other acts of God that Orange County shall require a “first priority” basis for goods and services. It is vital and imperative that the majority of citizens are protected from any emergency situation which threatens public health and safety, as determined by the County. Contractor agrees to rent/sell/lease all goods and services to the County or other governmental entities as opposed to a private citizen, on a first priority basis. The County expects to pay contractual prices for all goods or services required during an emergency situation. Contractor shall furnish a twenty-four (24) hour phone number in the event of such an emergency.

  • Please see the current Washtenaw Community College catalog for up-to-date program requirements Conditions & Requirements

  • Medical/Dental Expense Account The Employer agrees to allow insurance eligible employees to participate in a medical and dental expense reimbursement program to cover co- payments, deductibles and other medical and dental expenses or expenses for services not covered by health or dental insurance on a pre-tax basis as permitted by law or regulation, up to the maximum amount of salary reduction contributions allowed per calendar year under Section 125 of the Internal Revenue Code or other applicable federal law.

  • Progress Payments; Retainage A. Owner shall make progress payments on account of the Contract Price on the basis of Contractor’s Applications for Payment on or about the first day of each month during performance of the Work as provided in Paragraph 6.02.A.1 below, provided that such Applications for Payment have been submitted in a timely manner and otherwise meet the requirements of the Contract. All such payments will be measured by the Schedule of Values established as provided in the General Conditions (and in the case of Unit Price Work based on the number of units completed) or, in the event there is no Schedule of Values, as provided elsewhere in the Contract. 1. Prior to Substantial Completion, progress payments will be made in an amount equal to the percentage indicated below but, in each case, less the aggregate of payments previously made and less such amounts as Owner may withhold, including but not limited to liquidated damages, in accordance with the Contract a. 95 percent of Work completed (with the balance being retainage). If the Work has been 50 percent completed as determined by Engineer, and if the character and progress of the Work have been satisfactory to Owner and Engineer, then as long as the character and progress of the Work remain satisfactory to Owner and Engineer, there will be no additional retainage; and

  • Retiree Benefits – Process for Payment Any bargaining unit nurse who retires and wishes to participate in the benefit plans as outlined in article 17.01(h) will provide advance payment of the benefits either through post-dated cheques provided on a yearly basis or through a preauthorized withdrawal process. It is understood that any transaction would be dated the first of each and every month. The Employer will notify the Union of the benefit costs to retired nurses in January of each year, and each time the benefit costs are renegotiated by the Employer.

  • Measurement and Payment Temporary traffic control work, including, but not limited to installation and removal of portable signs, cones, drums, skinny drums, flaggers, AFAD’s, changeable message boards, truck mounted attenuators, flashing arrow boards, and pilot vehicles will be paid at the contract lump sum price for

  • Performance on Business Days In the event the date on which performance or payment of any obligation of a party required hereunder is other than a Business Day, the time for payment or performance shall automatically be extended to the first Business Day following such date.

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!