Continued Entitlement to Payment Sample Clauses

Continued Entitlement to Payment. In the event this Agreement expires or is terminated by either party hereto, Pirelli shall be entitled to payment for Equipment delivered by Pirelli up to the date of termination or expiration. If this Agreement is terminated by Purchaser, Pirelli shall be also entitled to payment for Equipment ordered by Purchaser, but not yet delivered on the date of termination. In all cases, Pirelli's entitlement to payment for such delivered, or ordered but not yet delivered, Equipment shall remain subject to the terms and conditions of this Agreement, which shall continue to apply to such Equipment. In the event and to the extent that at the time of termination or expiration of this Agreement, Pirelli shall have received payment in excess of the amount to which it is entitled under this Agreement, Pirelli shall refund to Purchaser, such excess within thirty (30) days after the date of termination or expiration.
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Continued Entitlement to Payment. In the event this Agreement expires or is terminated by either party hereto, Pirelli shall be entitled to payment for Equipment and Expansion Equipment delivered by Pirelli up to the date of termination or expiration. If this Agreement is terminated by Purchaser, Pirelli shall be also entitled to payment for Equipment and Expansion Equipment ordered by Purchaser, but not yet delivered on the date of termination, provided that the Agreement has not been terminated for failure of Pirelli to comply with the delivery date requirements of Section 5.1 for such Equipment or Expansion Equipment. In all cases, Pirelli's entitlement to payment for such delivered, or ordered but not yet delivered, Equipment shall remain subject to the terms and conditions of this Agreement, which shall continue to apply to such Equipment. In the event and to the extent that at the time of termination or expiration of this Agreement, Pirelli shall have received payment in excess of the amount to which it is entitled under this Agreement, Pirelli shall refund to Purchaser, such excess within thirty (30) days after the date of termination or expiration.
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Related to Continued Entitlement to Payment

  • Payment of Accrued Obligations The Company shall pay to the Executive upon the Executive’s Severance a lump sum payment in cash, paid in accordance with applicable law, as soon as practicable but no later than ten (10) days after the Severance Date, equal to the sum of (a) the Executive’s accrued annual base salary and any accrued vacation pay through the Severance Date, and (b) any annual bonus earned by the Executive from the year preceding the Severance Date but not yet paid as of the Severance Date.

  • Retention Payment If Employee remains employed by Company or its subsidiaries on the first anniversary of the Closing Date, then Company shall pay to Employee in a lump sum within five (5) business days thereafter, an amount equal to $460,000 (the “Retention Payment”).

  • Payment of accrued default interest Subject to the other provisions of this Agreement, any interest due under this Clause shall be paid on the last day of the period by reference to which it was determined; and the payment shall be made to the Agent for the account of the Creditor Party to which the overdue amount is due.

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

  • Non-Payment of Obligations Borrower shall default in the payment or prepayment when due of any principal of any Loan, or Borrower shall default (and such default shall continue unremedied for a period of five (5) Business Days) in the payment when due of any interest, fee or of any other obligation hereunder.

  • Termination Payments In the event of termination of the Executive’s employment during the Employment Period, all compensation and benefits set forth in this Agreement shall terminate except as specifically provided in this Section 8.

  • TIME OF PAYMENT OF ACCRUED BENEFIT Unless, pursuant to Section 6.03, the Participant or the Beneficiary elects in writing to a different time or method of payment, the Advisory Committee will direct the Trustee to commence distribution of a Participant's Nonforfeitable Accrued Benefit in accordance with this Section 6.01. A Participant must consent, in writing, to any distribution required under this Section 6.01 if the present value of the Participant's Nonforfeitable Accrued Benefit, at the time of the distribution to the Participant, exceeds $3,500 and the Participant has not attained the later of Normal Retirement Age or age 62. Furthermore, the Participant's spouse also must consent, in writing, to any distribution, for which Section 6.04 requires the spouse's consent. For all purposes of this Article VI, the term "annuity starting date" means the first day of the first period for which the Plan pays an amount as an annuity or in any other form. A distribution date under this Article VI, unless otherwise specified within the Plan, is the date or dates the Employer specifies in the Adoption Agreement, or as soon as administratively practicable following that distribution date. For purposes of the consent requirements under this Article VI, if the present value of the Participant's Nonforfeitable Accrued Benefit, at the time of any distribution, exceeds $3,500, the Advisory Committee must treat that present value as exceeding $3,500 for purposes of all subsequent Plan distributions to the Participant.

  • 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.

  • Payment of accrued interest In the case of an Interest Period longer than 3 months, accrued interest shall be paid every 3 months during that Interest Period and on the last day of that Interest Period.

  • 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).

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