Common use of Date of Payment Clause in Contracts

Date of Payment. The payments provided for in Section 6.2 hereof shall be made not later than the fifteenth (15th) day following the Date of Termination; provided, however, that if the amounts of such payments cannot be finally determined on or before such day, the Corporation shall pay to the Executive on such day an estimate, as determined in good faith by the Corporation, of the minimum amount of such payments to which the Executive is likely to be entitled to and shall pay the remainder of such payments (together with interest at the rate provided in section 1274(b)(2)(B) of the Code) as soon as the amount thereof can be determined but in no event later than the sixtieth (60th) day after the Date of Termination. In the event that the amount of the estimated payments exceeds the amount subsequently determined to have been due, such excess shall constitute a loan by the Corporation to the Executive, payable on the tenth (10th) business day after demand by the Corporation (together with interest at the rate provided in section 7872(f)(2)(A) of the Code). At the time that payments are made under this Section 6.3, the Corporation shall provide the Executive with a detailed written statement setting forth the manner in which such payments were calculated and the basis for such calculations including, without limitation, any opinions or other advice the Corporation has received from outside counsel, auditors or consultants (and any such opinions or advice which are in writing shall be attached to the statement).

Date of Payment. The payments payment provided for in Section 6.2 3.1.1 and Section 3.2 hereof shall be made not later than the fifteenth (15th) day following the Date of Termination; provided, however, that if the amounts of such payments cannot be finally determined on or before such day, the Corporation Company shall pay to the Executive on such day an estimate, as determined in good faith by the CorporationCompany, of the minimum amount of such payments to which the Executive is likely to be entitled to and shall pay the remainder of such payments (together with interest at the rate provided in section 1274(b)(2)(B) of the Code) as soon as the amount thereof can be determined but in no event later than the sixtieth thirtieth (60th30th) day after the Date of Termination. In the event that the amount of the estimated payments exceeds the amount subsequently determined to have been due, such excess shall constitute a loan by the Corporation Company to the Executive, payable on the tenth fifth (10th5th) business day after demand by the Corporation Company (together with interest at the rate provided in section 7872(f)(2)(A1274(b)(2)(B) of the Code). At the time that payments are made under this Section 6.33.3, the Corporation Company shall provide the Executive with a detailed written statement setting forth the manner in which such payments were calculated and the basis for such calculations including, without limitation, any opinions or other advice the Corporation Company has received from outside counsel, auditors or consultants (and any such opinions or advice which are in writing shall be attached to the statement).