Designated Payments Clause Samples
Designated Payments. Notwithstanding anything else contained in this Agreement, the Limited Partner shall not be entitled to any of the types of payments described in Section 3.2 to the extent that such payments are designated and used on or after the payment date for research, development, testing or obtaining regulatory approvals of any Product.
Designated Payments. The Borrower will not declare or make, or agree to pay or make, directly or indirectly, any Designated Payment unless, in each instance: (a) the Borrower is in compliance with the financial and other covenants contained herein, both before and after giving effect thereto; (b) no Event of Default has occurred and is continuing, or would result after giving effect thereto; and (c) such Designated Payment is made in compliance with applicable Laws. As long as the conditions set forth in the immediately preceding sentence are satisfied, the Borrower shall be permitted to make Designated Payments without notice to or consent from the Lender.
Designated Payments. Within seven (7) Business Days of the Closing Date, provide evidence satisfactory to Agent that all the Designated Payments referenced in Schedule 3.1(r) have been paid in accordance with the Designated Payments List.