Deferral Option. Notwithstanding any other provision of this Agreement, the Executive may file a written irrevocable deferral election form with the Company both prior to the expiration of thirty days from the date this Agreement is signed by the Executive and prior to the Executive's termination of employment electing to defer all or part of the special compensation provided by Section 5(c) and the special retirement plans lump sum otherwise provided for in Section 5(d). Such form shall irrevocably specify a method of payment for such compensation from among the methods allowable under the EDCP. Any deferred amounts shall be credited with earnings in the manner as elected by the Executive under the terms of the EDCP and the EDCP provisions shall apply to deferrals made hereunder except that (i) any provisions for a mandatory lump sum payment upon a "Change in Control" as defined in the EDCP shall not apply to deferrals made hereunder, (ii) any amounts which become payable under this Section 5(f) shall be deemed for purposes of the EDCP to have become payable on account of the Executive's "retirement," and (iii) the entire amount deferred under this Section 5(f) shall be paid in a lump sum by the Company immediately prior to the occurrence of a Change in Control to such grantor or "rabbi" trust as the Company shall have established as a vehicle to hold such amount pending payment, but with such trust designed so that the Executive's rights to payment of such benefits are no greater than those of an unsecured creditor.
Deferral Option. An Employee is entitled to only one interruption and deferral of parental leave in cases where parental leave has begun, and the child is hospitalized for a period exceeding or likely to exceed one (1) week, the Employee is entitled to resume work and defer the unused portion of the parental leave until the child is discharged from hospital. An Employee who intends to use the deferral option must give the employer as much notice as possible of the dates of resumption of work and resumption of leave and provide the employer whatever proof is reasonable to support the Employee entitlement to the option.
Deferral Option. (1) The actual installation date of each Additional Unit will be subject to load growth. Near the time for and before making a firm commitment on a contract for procurement of an Additional Unit to ensure that it will be commissioned at the original scheduled time to meet the expected growth in demand, HEC will assess the actual installation and commissioning schedule in the light of the latest forecast demand in consultation with the Government.
(2) HEC may defer installation of the Additional Unit after they have entered into a firm commitment on a contract for procurement of the M&E equipment of the Additional Unit, only if they are able to demonstrate to the Government that the net present value (NPV) of the overall cost to consumers of the Additional Unit with such a deferral would be lower than the NPV, incorporating the Excess Capacity Adjustment, assuming the original installation schedule were not changed.
(3) For the purpose of calculating the NPV, the cost components for calculating the NPVs include all items associated with the deferred installation of the Additional Unit and the return to shareholders. The discount rate to be used is equal to that adopted in the latest approved Development Plan.
Deferral Option. The Borrowers may elect to defer the repayment of up to one third of any six repayment instalments falling due after the Repayment Date in relation to the thirteenth repayment instalment subject to the following terms and conditions:
(a) the Borrowers shall have sent to the Lender a notice at least 10 days prior to the Repayment Date relative to the repayment instalment the payment of part of which the Borrowers are electing to defer specifying the amount to be deferred (which amount shall not exceed one third of the relevant repayment instalment);
(b) no Event of Default (i) has occurred or is continuing either at the date of the Borrowers' request or on the Repayment Date on which the deferred instalment was due and payable or (ii) will result from the deferral of the relevant repayment instalment; and
(c) each part of a repayment instalment which is deferred (which shall not exceed, when added to the parts of all other repayment instalments which have been deferred, $3,120,000 in aggregate) shall be added to the Balloon Instalment which shall be increased by such amount.
Deferral Option. 8.16.1 Subject to the other provisions of this Clause 8.16, the Borrower may, at any time during the Security Period, elect to defer the repayment of any one or all of each of the fifteenth to the twentieth (inclusive) repayment instalments (referred to in Clause 8.1), as follows:
(a) an amount of up to $480,500 in respect of the fifteenth repayment instalment only; and
(b) an amount of up to $240,250 in respect of each one of the sixteenth to the twentieth (inclusive) repayment instalments.
8.16.2 A repayment instalment which has been deferred pursuant to this Clause 8.16, shall be repaid together with the balloon payment (referred to in Clause 8.1).
8.16.3 The deferral option for each repayment instalment shall be exercisable by a written irrevocable notice from the Borrower to the Agent (a "Deferral Notice"), specifying the relevant repayment instalment which is to be deferred, and the Borrower shall send such Deferral Notice to the Agent not later than ten (10) days prior to the Repayment Date on which the repayment instalment to be deferred would, but for such proposed deferral, have been due.
8.16.4 The Borrower may not exercise its option referred to in Clause 8.16.1 or send a Deferral Notice if the Borrower has failed to provide the evidence and documents set out in Clause 5.3.2 of the Seventh Supplemental Agreement within the time limits specified therein. If notwithstanding the above, the Borrower has exercised its option referred to in Clause 8.16.1 or sent a Deferral Notice prior to the deadlines specified in Clause 5.3.2 of the Seventh Supplemental Agreement and it subsequently fails to provide the evidence and documents required under such clause within the time limits specified therein (which, for the avoidance of doubt, shall constitute an Event of Default), then any repayment instalments so deferred at that time:
(a) if their original Repayment Date has already passed, shall be due and payable in full by the Borrower on demand by the Agent; or
(b) if their original Repayment Date had not yet passed, shall be payable on their original Repayment Dates as if no deferral option had been exercised or no Deferral Notice has been sent by the Borrower to the Agent under this Clause 8.16.";
3.1.3 by inserting the following new sub-paragraph (g) before the existing sub-paragraph (g) of clause 12.9 of the Principal Agreement and by renumbering existing sub-paragraph (g) of the Principal Agreement accordingly as new sub-paragraph (h):
Deferral Option. During the term of the Note, the Borrower may elect to defer the payment of all or a portion of the interest due and payable on a Payment Date (other than the Maturity Date) and instead may, at the election of the Borrower, accrue and add such interest to the outstanding principal balance of the Note, to bear interest and become due and payable on the Maturity Date.
Deferral Option. (a) SAFECO agrees that Executive may elect to defer all or a portion of the payments that are to be made to Executive under paragraph 5(b) hereof. Executive may exercise such election by delivering to the President and Secretary of SAFECO Corporation a written notice of election prior to the occurrence of any Change in Control of SAFECO Corporation, which notice shall state the portion of the payments under paragraph 5(b) that is to be deferred (expressed as a dollar amount or as a percentage ("the Deferred Benefit"), the date the payment of the Deferred Benefit shall commence ("the Deferred Benefit Commencement Date"), and the number of equal consecutive monthly installments (not to exceed 120) that the Deferred Benefit is to be paid in. In no event shall the Deferred Benefit Commencement Date be subsequent to the first day of January of the year immediately following the Executive's sixty-fifth (65th) birthday. In the event such an election is made:
(i) The amount that would have otherwise been paid under the provisions of paragraph 5(b) hereof shall be reduced by an amount equal to the Deferred Benefit.
(ii) The Deferred Benefit, together with simple interest calculated at an annual rate of ten percent (10%) on the unpaid balance of the Deferred Benefit from the date that payment of the Deferred Benefit would have otherwise been made under the provisions of paragraph 5(b) hereof, shall be paid in the number of equal consecutive monthly installments selected by Executive, with the first such installment being made on the Deferred Benefit Commencement Date and a subsequent payment being made on the first day of each month thereafter.
(b) The parties agree that the following provisions shall apply with respect to payment of the Deferred Benefit to the Executive under the provisions hereof:
(i) If Executive dies prior to receiving the full amount of the Deferred Benefit that he is entitled to receive hereunder, SAFECO shall continue to pay the Deferred Benefit to the estate of Executive in the same manner as the Deferred Benefit would have been paid to Executive if he had not died.
(ii) It is understood by the parties that the Deferred Benefit shall in no event be set aside or deposited to a separate account or fund, and that the rights of Executive to the deferred Benefit shall not be greater than the rights of any other general, unsecured creditor of SAFECO.
(iii) Executive, his spouse, and any other person or entity claiming through or under Executive sh...
Deferral Option. During the period prior to [*] of this Amendment, Cytokinetics may elect to defer its co-funding obligations of [*] Development Costs under Section [*] of the 2014 Agreement with [*] prior notice to Astellas, provided that (A) Cytokinetics cannot defer [*] at any given time; and (B) Cytokinetics cannot defer [*] by more than eighteen (18) months from the date such payment would have been due but for such deferral. Such deferral is not intended to be [*] to continue to fulfill its obligations. If Cytokinetics defers its co-funding obligation for a portion of the [*] Development Costs, Astellas will be solely responsible for such portion of the [*] Development Costs. If Cytokinetics defers any such co-funding payment obligation in connection with the Development activities with respect to a particular Collaboration Product (i.e., the Lead Product or any Other Collaboration Product) and fails to make such deferred payment when due, then each of the royalty rates for such Collaboration Product described under Sections 11.7(a)[*] of the 2014 Agreement shall be reduced by [*], subject to other royalty adjustment mechanisms set forth in the 2014 Agreement.
Deferral Option. 3.1 Effective from 1st January 1999, actual installation date of each Additional Unit will be subject to load growth. Near the time for and before making firm commitment on the contract for procurement of the Additional Unit to ensure that it will be commissioned at the original scheduled time to meet the expected growth in demand, HEC will assess the actual installation and commissioning schedule in the light of the latest forecast demand in consultation with the Government.
3.2 HEC may defer installation of the Additional Unit after they have entered into a firm commitment on the contract for procurement of the M&E equipment of the Additional Unit, only if they are able to demonstrate to the Government that the net present value (NPV) of the overall cost to consumers of the Additional Unit with such a deferral would be lower than the NPV, incorporating the Excess Capacity Adjustment, assuming the original installation schedule were not changed.
3.3 For the purpose of calculating the NPV, the cost components for calculating the NPVs include all items associated with the deferred installation of the Additional Unit and the return to shareholders. The discount rate to be used is equal to that adopted in the latest approved Financial Plan.
Deferral Option. If Executive so elects by notifying the Company in writing at least one (1) year prior to the Date of Termination, (x) all or a portion, as specified by Executive in such election notice, of the payment provided for by the foregoing provisions of Section 5.2(b), and (y) a portion of the lump-sum severance payment provided for by Section 5.2(a), as specified by Executive in the election notice, up to the product of the Classification Factor (or, if less, the Retirement Factor) and Executive’s Annual Bonus, shall not be paid to Executive, but instead shall be credited to an account established for Executive under the Deferred Compensation Plan. Such credited amount shall be administered in the same manner as amounts otherwise deferred under the Deferred Compensation Plan and shall be distributed to Executive at the time and in the manner specified in Executive’s election notice.
