Continuation Payment Sample Clauses

Continuation Payment. 12.1 Without prejudice to the provisions of clause 11.6 hereof, as from the due expiration of the Hire Period and until such time as the Equipment shall have been returned or where the Equipment is returned damaged the Equipment is duly repaired the Hirer shall pay by way of recompense for the continued use of the Equipment and for the Owner’s inability to hire the equipment to other person’s, a daily sum (payable in arrears) at the same rate per day (pro rata if the rate in the Order Acknowledgement Form is expressed as other than per day) as the Rental payments were previously due in respect thereof in addition to any amounts payable by the Hirer to the Owner for the repair of any damaged Equipment pursuant to clause 7.1.5 or for any costs, liabilities, expenses, damages or other loss suffered by the Owner as a result of the late return of the Equipment and/or the Equipment being returned damaged pursuant to clause 8.3. 12.2 This clause shall not confer upon the Hirer any right to the continued use or possession of the Equipment.
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Continuation Payment. 11.1 Without prejudice to the provisions of Clause 10.4 hereof, as from the due termination or expiration (as applicable) of the Hire Period and until such time as the Equipment is returned, the Hirer shall pay by way of recompense for the continued possession of the Equipment a daily sum (payable in arrear) at the same rate per annum as the Rental payments previously due in respect thereof, together with VAT at the rate or rates and in the manner for the time being in force. 11.2 Nothing in this clause 11 shall confer upon the Hirer any right to the continued use or possession of the Equipment beyond the Hire Period. 11.3 If the Hirer retains the Equipment beyond the Hire Period without first obtaining the permission of the Owner then he shall be in breach of this Agreement such that the Owner may exercise his rights of termination under Clause 10 above.
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Continuation Payment. In partial consideration for the rights granted to YmAbs under this Agreement, YmAbs shall pay to MabVax a one-time, non-refundable payment of six hundred thousand U.S. dollars ($600,000) within five (5) days after the first anniversary of the Effective Date, provided that no notice of termination of this Agreement has been made by YmAbs before such date.
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Continuation Payment. Orange shall pay the additional sum of Twenty-five million Euro (€25,000,000) to Partner within five (5) Business Days of the Parties’ receipt of the Market Study from Publicis (“Continuation Payment”). The Continuation Payment shall be paid by Orange to Partner by wire transfer to Partner’s Bank Account.
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Continuation Payment. 13.1. The Customer shall continue to pay the Charges in respect of the Equipment from the date of termination or expiry of the Agreement until: 13.1.1. such time as the Equipment is returned to the Supplier; or 13.1.2. if the Equipment, in the reasonable opinion of the Supplier, requires repair, such time as the Equipment is repaired to a comparable standard to the standard it was as at Delivery Date. 13.2. The Charges due under clause 13.1 shall be calculated at the same daily rate as the Customer had paid prior to termination or expiry, in addition to any costs, liabilities, expenses, damages or other loss suffered by the Supplier in connection with the late return of the Equipment or the Equipment being returned in standard which required repair. 13.3. This clause shall not confer upon the Customer any right to the continued use or possession of the Equipment.
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Continuation Payment. 17.1. The Customer shall continue to pay the Charges in respect of the Accommodation and the Equipment from the date of termination or expiry of the Agreement until: 17.1.1. such time as the Accommodation is vacated; 17.1.2. such time as the Equipment is returned to the Supplier; and 17.1.3. if the Accommodation or Equipment, in the reasonable opinion of the Supplier, requires repair, such time as the Accommodation or Equipment is repaired to a comparable standard to the standard it was as at Delivery Date. 17.2. The Charges due under clause 17.1 shall be calculated at the same daily rate as the Customer had paid prior to termination or expiry, in addition to any costs, liabilities, expenses, damages or other loss suffered by the Supplier in connection with the late return of the Equipment or the Equipment being returned in standard which required repair. 17.3. This clause shall not confer upon the Customer any right to the continued use or possession of the Equipment. 17.4. If the Customer does not promptly vacate the Accommodation, return the Equipment, or if either the Accommodation or Equipment requires repair before it can be used, the Customer shall pay to the Supplier: 17.4.1. any and all sums representing liability of the Supplier to third parties whose period of hire of the Accommodation and/or the Equipment has been affected by failure of the Customer to vacate the Accommodation, failure to return the Equipment and/or return the Equipment in good condition; 17.4.2. any and all claims, demands, liabilities, costs, expenses, damages and losses (including but not limited to any interest, penalties and reasonable and properly incurred legal and professional costs and expenses) directly or indirectly occasioned to the Supplier as a result of the late occupation of the Accommodation return the Equipment and/or return the Equipment in good condition; and 17.4.3. any costs and expenses incurred by the Supplier in recovering or repairing the Accommodation or Equipment and/or in collecting any sums due under the Agreement (including any storage, insurance, repair, transport, legal and remarketing costs).
Sample 1
Continuation Payment. Within five business days following such time as (i) DEP issues the first Permit pursuant to the CAD providing for at least 600,000 tons of Fines and Residuals and (ii) the Contract is assigned to the LLC, in consideration of such assignment, the LLC shall pay to MEA the amount of $500,000 (the “Continuation Payment”). Notwithstanding the preceding sentence, the LLC may elect to waive such requirements by written notice to MEA and proceed with the Project, in which case, the LLC shall make the Continuation Payment. Alternately, if such Permit provides for less than 600,000 tons of Fines and Residuals and/or if the Contract is not assigned to the LLC, Casella and the LLC may elect, by written notice to MEA within 10 days, not to continue with the Project, in which case the LLC shall be dissolved and its affairs wound up, and neither Casella nor the LLC shall have any obligation to make the Continuation Payment or any other payments required by this Agreement, including any right to reuse Soils or Fines and Residuals. If Casella and the LLC elect not to continue with the Project, then Casella and its Affiliates shall be entitled to dispose of up to 61,111 tons of Soils or 27,500 tons of Fines and Residuals, at no charge, at any one or more of MEA’s projects located at the Landfill, Stoughton, Massachusetts or Wilmington, Massachusetts or at any other facility affiliated with MEA, in each case as such location or locations are determined by Casella. Notwithstanding the foregoing, if such capacity is not made available to Casella and its Affiliates on a timely basis, then MEA shall pay to Casella, within 60 days after notice thereof from Casella to MEA, an amount equal to $500,000 less a pro-rata amount for any capacity used at the Landfill by the LLC through the date of dissolution of the LLC, plus interest thereon at 5% per annum from the date hereof until such amount is paid in full.
Sample 1
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Related to Continuation Payment

  • Termination Payment The final payment delivered to the Certificateholders on the Termination Date pursuant to the procedures set forth in Section 9.01(b).

  • Termination Payments In the event of termination of the employment of Executive, all compensation and benefits set forth in this Agreement shall terminate except as specifically provided in this paragraph 4:

  • 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.

  • Compensation & Payment 8.4.1. Should the claim be found proven; settlement is executed only in the form of compensation payment added to the Client trade account. 8.4.2. Compensation shall not compensate the profit not received by the Client in the event that the Client had an intention to perform some action but has not performed it for some reason. 8.4.3. The Company shall not compensate non-pecuniary damage to the Client. 8.4.4. The Company adds a compensation payment to the Client trading account within one working day since the moment of making a positive decision on the dispute situation.

  • Termination Payments and Benefits Regardless of the circumstances of the Executive’s termination, Executive shall be entitled to payment when due of any earned and unpaid base salary, expense reimbursements and vacation days accrued prior to the termination of Executive’s employment, and other unpaid vested amounts or benefits under Company retirement and health benefit plans, and, as applicable, under Equity Agreements in accordance with their terms, and to no other compensation or benefits. (a) If (i) the Company terminates the Executive’s employment without Cause, or (ii) the Executive terminates employment with the Company within twelve (12) months following the occurrence of a Change in Control, provided that within such period, (a) either Executive’s job duties have been materially and permanently diminished or the Executive’s compensation has been materially decreased and (b) Executive provides written notice to the Company within ninety (90) days of the occurrence of an aforementioned event and the Company fails to cure the event within thirty (30) days following the Company’s receipt of the Executive’s written notice, then, in the case of either (i) or (ii) above, the Company will provide the Executive with separation payments of twelve (12) months base salary at Executive’s base salary rate at the time of Executive’s termination or if greater, the Executive’s base rate in effect on the Change of Control Date; to be paid in twenty-six (26) regular bi-weekly pay periods beginning on the first pay period occurring after the sixtieth (60th) day following the Executive’s termination, provided the Executive executes and does not subsequently revoke the Separation and General Release Agreement referenced below within such sixty (60) day period. (b) For a period of twelve (12) months from the Executive’s separation from service, the Company will pay to the Executive an amount, minus all applicable taxes and withholdings, equal to the full monthly cost (including any portion of the cost previously paid by the employee) to provide the same level of group health benefits maintained by Executive as of Executive’s separation from service, provided the Executive executes and does not subsequently revoke the Separation and General Release Agreement referenced below within such sixty (60) day period. (c) For purposes of this Agreement, “Change in Control” shall mean the occurrence of any one of the following events:

  • Severance Payment If, during the Employment Term at any time during the period of twelve (12) consecutive months following the occurrence of a Change in Corporate Control, the Executive is involuntarily terminated (other than for Cause) or the Executive terminates his employment for Good Reason, then subject to compliance with the restrictive covenants in Section 9 and Section 10 and the execution and timely return by the Executive of the Release, the Executive shall be entitled to receive a lump sum severance payment equal to the present value of a series of monthly payments for twenty-four (24) months, each in an amount equal to one-twelfth (1/12th) of the sum of (i) the Executive’s Base Salary, as in effect at the time of the Change in Corporate Control, and (ii) the average of the annual bonuses paid to the Executive for the prior two fiscal years of the Company ending prior to the Change in Corporate Control, if any. Such present value shall be calculated using a discount rate equal to the interest rate on 90-day Treasury bills, as reported in the Wall Street Journal (or similar publication) on the date of the Change in Corporate Control. Such lump sum payment shall be made to the Executive within sixty (60) days following the date of such involuntary termination. In addition, if during the Employment Term within twelve (12) months after a Change in Corporate Control the Executive is involuntarily terminated (other than for Cause) or the Executive terminates his employment for Good Reason, he shall be entitled to continued coverage at the Company’s expense under any health insurance programs maintained by the Company in which the Executive participated at the time of his termination, which coverage shall be continued for eighteen (18) months or until, if earlier, the date the Executive obtains comparable coverage under a group health plan maintained by a new employer. To the extent the benefits provided under the immediately preceding sentence are otherwise taxable to the Executive, such benefits, for purposes of Section 409A of the Code (and the regulations and other guidance issued thereunder) shall be provided as separate monthly in-kind payments of those benefits, and to the extent those benefits are subject to and not otherwise excepted from Section 409A of the Code, the provision of the in-kind benefits during one calendar year shall not affect the in-kind benefits to be provided in any other calendar year.

  • Retention Payment Subject to your compliance with Sections 6 and 7 of this letter agreement, if you remain an active full-time employee of the Company, Parent or any of their respective subsidiaries through the expiration of the 6-month period beginning on the day following the Closing Date (as defined in the Merger Agreement) (the “Vesting Date”), you will receive a cash payment equal to (i) the aggregate amount described in Section 6.2(a) of the Employment Agreement, determined as if your employment with the Company was terminated by the Company without Cause as of the Closing plus (ii) an amount equal to the portion of the premiums the Company would need to pay to provide you with the benefits under Sections 6.2(b) and (c) for the 12 month period following the Vesting Date, based on the premium costs in effect as of the Closing and assuming for this purpose that your employment terminated on the Vesting Date and that you timely elected to receive all such benefits, plus (iii) the Retention Bonus. The aggregate of these amounts will be paid to you in a lump sum on the third business day following the Release Effective Date (as defined below). You hereby agree that, notwithstanding anything contained in the Employment Agreement or any other agreement between you and the Company providing for severance or separation payments or benefits, you may either receive payment of amounts set forth in Section 2(a) or in Section 4, but in no event shall you be entitled to receive payment of both amounts; furthermore, you shall not be entitled to any severance or separation payments or benefits under the Employment Agreement (including under Sections 5 and 6 thereof) or under any other plan, program, policy, agreement or arrangement maintained by the Company, Parent or any of their respective affiliates, and all of your rights to such payments and benefits under the Employment Agreement and any such other plan, program, policy, agreement or arrangement will immediately terminate, in each case, except as otherwise provided herein. If you continue to be employed by Parent or its subsidiaries following the Vesting Date, you shall be eligible for severance benefits under either the applicable severance policy of Parent or one of its subsidiaries, as determined by Parent; provided, however, that you shall not receive credit for your service with Parent or the Company, or any of their respective subsidiaries, for the periods of employment that precede the Closing Date for any purpose under such policy, including eligibility, vesting or calculation of benefits.

  • Separation Payment An ASF Member shall be compensated at the final rate of pay for all unused, accumulated vacation, leave time upon separation from state service, or movement to a vacation ineligible position. An employee on an unpaid leave of absence of more than one (1) year for a purpose other than accepting an unclassified position in state civil service, or an employee on layoff that results in separation from service, may elect to be compensated at the final rate of pay for unused accumulated vacation leave. This accumulated vacation payout shall not exceed two hundred and seventy-five (275) hours, except in the case of the ASF Member's death. Calculation of an ASF Member's hourly rate for purposes of computing vacation separation payment shall be based upon a base of two thousand eighty-eight (2,088) working hours per year. Appointment periods of less than one (1) year in duration shall be prorated on this basis. Except as provided in Article 16, Section C, Subdivision 4 which pertains to the separation payment to retirees, the separation payment will be made in cash.

  • Severance Payments 5.1 The Company shall pay the Executive the payments described in this Section 5.1 ("Severance Payments") upon the termination of the Executive's employment following a Change in Control during the term of this Agreement, including the Executive's termination of employment for Good Reason, unless such termination is (a) by the Company for Cause, or (b) by reason of the Executive's Death or Disability. The Executive's employment shall be deemed to have been terminated following a Change in Control by the Company without Cause if the Executive's employment is terminated prior to a Change in Control without Cause at the direction (or action which constitutes a direction) of a Person who has entered into an agreement with the Company the consummation of which will constitute a Change in Control. (i) Within three (3) business days after the Date of Termination, the Company shall make a lump sum or monthly, at the Executive's option, cash severance payment to the Executive in an amount equal to: (x) the Executive's annual base salary in effect immediately prior to the occurrence of the event or circumstance upon which the Notice of Termination is based or in effect immediately prior to the Change in Control; and (y) a pro-rated portion of Executive's Targeted Annual Bonus for the fiscal year in which the Date of Termination occurs. (ii) For a twelve (12) month period after the Date of Termination, the Company shall arrange to provide the Executive with medical and dental insurance benefits substantially similar to those that the Executive is receiving immediately prior to the Notice of Termination. Benefits otherwise receivable by the Executive pursuant to this Section 5.1(ii) shall be reduced to the extent comparable benefits are actually received by or made available to the Executive without cost during the twelve (12) month period following the Executive's termination of employment (and any such benefits actually received by the Executive shall be reported to the Company by the Executive). 5.2 The Company also shall pay to the Executive all legal fees and expenses incurred by the Executive in disputing the non-payment of Severance Payments in connection with a termination which entitles the Executive to Severance Payments. Such payments shall be made within five (5) business days after delivery of the Executive's written request for payment accompanied with such evidence of fees and expenses incurred as the Company reasonably may require.

  • Termination Pay Effective upon the termination of this Agreement, the Employer will be obligated to pay the Executive (or, in the event of his death, his designated beneficiary as defined below) only such compensation as is provided in this Section 6.5, and in lieu of all other amounts and in settlement and complete release of all claims the Executive may have against the Employer. For purposes of this Section 6.5, the Executive's designated beneficiary will be such individual beneficiary or trust, located at such address, as the Executive may designate by notice to the Employer from time to time or, if the Executive fails to give notice to the Employer of such a beneficiary, the Executive's estate. Notwithstanding the preceding sentence, the Employer will have no duty, in any circumstances, to attempt to open an estate on behalf of the Executive, to determine whether any beneficiary designated by the Executive is alive or to ascertain the address of any such beneficiary, to determine the existence of any trust, to determine whether any person or entity purporting to act as the Executive's personal representative (or the trustee of a trust established by the Executive) is duly authorized to act in that capacity, or to locate or attempt to locate any beneficiary, personal representative, or trustee.

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