Deferred Payment. “Deferred Payment” means any severance pay or benefits to be paid or provided to Executive (or Executive’s estate or beneficiaries) pursuant to this Agreement and any other severance payments or separation benefits, that in each case, when considered together, are considered deferred compensation under Section 409A.
Deferred Payment. Receipt by the Seller of amounts distributed to the Seller pursuant to Section 2.8C(G) of the Administration Agreement (exclusive of the amount of any such distribution attributable to the reduction from time to time of the Specified Reserve Account Balance) shall constitute payment to the Seller of the Deferred Payment portion of the Purchase Price.
Deferred Payment. Notwithstanding Section 2(e) above, the Participant may elect to defer the payment date of his or her vested Restricted Stock Units beyond the Scheduled Payment Date (such elected deferred payment date, the “Deferred Payment Date”), provided, that:
(a) In order for a deferral election under this Section 3 to be effective, the Participant must make the election prior to the Grant Date.
(b) A deferral election made by the Participant pursuant to this Section 3 with respect to one or more of the Participant’s Restricted Stock Units shall, subject to Sections 3(c) and (e) below, defer the payment date of such Restricted Stock Units to the Deferred Payment Date elected by the Participant, which must be one of the following: (i) the third (3rd) anniversary of the Scheduled Payment Date; (ii) the fifth (5th) anniversary of the Scheduled Payment Date; (iii) the seventh (7th) anniversary of the Scheduled Payment Date; (iv) the tenth (10th) anniversary of the Scheduled Payment Date; or (v) the date of the Participant’s Termination of Services which occurs after the Scheduled Payment Date.
(c) The Participant shall also be permitted to further defer the payment date of his or her vested Restricted Stock Units beyond the Deferred Payment Date, provided that: (i) in order to be effective, the Participant must make such deferral election at least twelve (12) months prior to the Deferred Payment Date; (ii) a deferral election made by the Participant pursuant to this Section 3(c) shall defer the payment date of his or her vested Restricted Stock Units for a period of time (expressed in whole years) of not less than five (5) years and no more than ten (10) years beyond the Deferred Payment Date; and (iii) the Participant’s deferral election shall not become effective until twelve (12) months after the date on which it is made. The Participant shall be entitled to make more than one deferral election under this Section 3(c) with respect to his or her vested Restricted Stock Units, and any such new Deferred Payment Date election that becomes effective in accordance herewith shall supersede any previous Deferred Payment Date election made by the Participant with respect to such Restricted Stock Units on and after the twelve (12) month anniversary after the election is made.
(d) The Participant must make any deferral election permitted under this Section 3 in writing on the election form and in accordance with the procedures established by the Company. A deferral election is v...
Deferred Payment. Upon the approval of the Business Office, a student may opt for a deferred payment plan and will be charged a Deferred Tuition Payment Fee. The schedule for payment is one third of all charges upon Registration, one third on or before Friday of the fourth week, and one third on or before Friday of the eighth week. Late Payment Regulation will apply to the unpaid balances. (This plan does not apply to intensive courses.)
Deferred Payment. If any of Party A’s payments under this Agreement are delayed, it shall pay penalties for deferred payment to Party B pursuant to this Agreement. The penalty shall be 0.04% per day for every day from the payment date until the date which Party B receives all payment (including the penalties).
Deferred Payment. If any Transaction between the Company and any Cardholder using a Credit Card is consummated on a deferred payment basis (for which the period of deferral may not exceed 90 days), then for each month during the period of deferral, the Company will pay the Bank an amount equal to the Deferred Payment Rate for such month multiplied by the average daily balance of purchase price so deferred during such month. For purposes of this Section 4.3, "DEFERRED PAYMENT RATE" means, for any month, (i) if the debt of the Bank has an implied investment grade rating at all times during such month, the average interest rate paid by the Bank to obtain funds during such month, and (ii) if the debt of the Bank does not have an implied investment grade rating at all times during such month, the then-current reference rate or index maintained or provided by a nationally recognized investment banking firm (which firm shall be reasonably acceptable to the Company and the Bank) in respect of issuers whose debt has the lowest investment grade rating.
Deferred Payment. A member may continue in service after normal retirement date. If retirement is deferred, the member will be credited with pensionable service during the period of deferment. Payment of pension will be deferred until actual retirement. It will be payable in monthly installments during the lifetime of the member.
Deferred Payment. Third, the Corporation shall pay the Executive any amounts payable under Section 7(a)(iii) on the terms and conditions of the applicable plan or policy.
Deferred Payment. Funding shall pay the Deferred Payment to Xxxxxx Mae when and as the same is received by Funding. If the Trust Student Loans are purchased by Funding pursuant to Section 6.1 of the Administration Agreement, Funding shall pay to Xxxxxx Xxx as part of the Deferred Payment the present value of the excess of the projected future yield on the Trust Student Loans after the date of such purchase over the projected cost to Funding of carrying the Trust Student Loans as reasonably estimated by Funding assuming (1) that interest rates applicable to the Trust Student Loans in effect on the date of such purchase remain in effect, (2) that the cost to Funding of carrying the Trust Student Loans is equal to the blended rate on the Notes and Certificates on the date of such purchase, (3) that the servicing costs and loss experience applicable to the Trust Student Loans during the one year period preceding such purchase continue during the remaining life of the Trust Student Loans and (4) a discount rate equal to the blended rate on the Notes and Certificates on the date of such
Deferred Payment. Funding shall pay the Deferred Payment to Xxxxxx Mae when and as the same is received by Funding. If the Trust Student Loans are purchased by Funding pursuant to Section 6.1 of the Administration Agreement, Funding shall pay to Xxxxxx Xxx as part of the Deferred Payment 66 2/3% of the present value of the excess of the projected future yield on the Trust Student Loans after the date of such purchase over the projected cost to Funding of carrying the Trust Student Loans as reasonably estimated by Funding assuming (1) that interest rates applicable to the Trust Student Loans in effect on the date of such purchase remain in effect, (2) that the cost to Funding of carrying the Trust Student Loans is equal to the blended rate on the Notes and Certificates on the date of such purchase, (3) that the servicing costs and loss experience applicable to the Trust Student Loans during the one year period preceding such purchase continue during the remaining life of the Trust Student Loans and (4) a discount rate equal to the blended rate on the Notes and Certificates on the date of such purchase. If the Trust Student Loans are sold pursuant to the auction provision in Section 4.4 of the Indenture, Funding shall pay to Xxxxxx Mae as part of the Deferred Payment 66 2/3% of the amount, if any, by which the sale price exceeds the Minimum Purchase Amount and any costs of terminating the Trust. Funding shall also be obligated to pay Xxxxxx Xxx as part of the Deferred Payment, in the event that the provisions of Section 2.8C(F) of the Administration Agreement are operative, upon payment in full of the Notes and Certificates to the extent of amounts then distributable by the Trust to Funding, 66 2/3% of the aggregate amount that would have been distributed to Funding pursuant to Section 2.8C(G) of the Administration Agreement (exclusive of the amount of any such distribution attributable to the reduction from time to time of the Specified Reserve Account Balance) but for the operation of Section 2.8C(F) of the Administration Agreement.
