Earned Payment Sample Clauses

Earned Payment. Intercardia shall pay the Earned Payment to Interneuron on the Closing Date. The Earned Payment shall be non-refundable and shall be paid in shares of Intercardia Common Stock calculated by dividing $3,000,000 by the Per Share Price. The Per Share Price shall equal the Fair Market Value of Intercardia Common Stock determined as of the Closing Date; provided, however, that if the Fair Market Value of Intercardia Common Stock determined as of the Closing Date is (i) less than $15.00 then the Per Share Price shall equal $15.00 and (ii) more than $29.00, the Per Share Price shall equal $29.00.
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Earned Payment. The Employee will have the opportunity to earn an additional long-term incentive payment ("Earned Payment") equal to up to 25% of Employee's Base Salary applicable as of June, 1999 if (A) business synergies and objectives (as defined by Philips in consultation with the Senior Vice President, Philips Speech Processing Telephony North America) during the eighteen (18) month period following the Effective Date are achieved and (B) Employee remains actively employed by the Company on the date which is eighteen (18) months following the Effective Date; provided, however, that Employee's performance in relation to such objectives shall be measured every six (6) months, beginning with the date which is six (6) months following the Effective Date, and if the objectives have been achieved after such six (6) month period, Employee shall be paid an amount equal to one-third of the Earned Payment as soon as practicable thereafter, but in no event later than thirty (30) days after each such six (6) month period.
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Earned Payment. The Employee will have the opportunity to earn an additional long-term incentive payment ("Earned Payment") equal to up to 25% of $260,000 if (A) business synergies and objectives (as defined by Philips in consultation with Employee) during the eighteen (18) month period following the Effective Date are achieved and (B) Employee remains actively employed by the Company on the date which is eighteen (18) months following the Effective Date; provided, however, that Employee's performance in relation to such objectives shall be measured every six (6) months, beginning with the date which is six (6) months following the Effective Date, and if the objectives have been achieved after such six (6) month period, Employee shall be paid an amount equal to one-third of the Earned Payment as soon as practicable thereafter, but in no event later than thirty (30) days after each such six (6) month period.
Sample 1
Earned Payment. If the payments described in this sub-paragraph are greater than the Minimum Payments described in Paragraph 13.1.c.i above, Lessor shall pay to Lessee commencing on May 31, 2002 and annually on May 31 of each and every year thereafter an earned payment ("Earned Payment") calculated as follows: For the purposes of determining the amount of Earned Payment, if any, a base value ("Base Value") is hereby set at Thirteen Million Dollars ($13,000,000.00). A calculated value ("Calculated Value") shall be determined annually beginning for the year ending December 3l, 2001. Such Calculated Value shall be determined by deducting from the net operating profit of the Leased Premises ("Net Operating Profit") for the year ending December 31, 2001 a capital reserve equal to four percent (4%) of the total gross revenue ("Total Gross Revenue") for that specific year, so long as the Lessee's cumulative capital expenditures following the closing date are equal to or greater than four percent (4%) of the cumulative Total Gross Revenue for the same period. If such cumulative capital expenditures by Lessee are less than four percent (4%) of the cumulative Total Gross Revenue since the closing date, then the amount of capital reserve deducted will be limited to the actual amount spent in that specific year. Said net sum shall then be multiplied by nine (9) to determine the Calculated Value. The Earned Payment due Lessor in any year shall be determined by deducting the Base Value from the Calculated Value and multiplying the net sum by thirty-five percent (35%) and then deducting the
Sample 1

Related to Earned Payment

  • Returned Payments If after receipt of any payment which is applied to the payment of all or any part of the Obligations (including a payment effected through exercise of a right of setoff), the Administrative Agent or any Lender is for any reason compelled to surrender such payment or proceeds to any Person because such payment or application of proceeds is invalidated, declared fraudulent, set aside, determined to be void or voidable as a preference, impermissible setoff, or a diversion of trust funds, or for any other reason (including pursuant to any settlement entered into by the Administrative Agent or such Lender in its discretion), then the Obligations or part thereof intended to be satisfied shall be revived and continued and this Agreement shall continue in full force as if such payment or proceeds had not been received by the Administrative Agent or such Lender. The provisions of this Section 2.21 shall be and remain effective notwithstanding any contrary action which may have been taken by the Administrative Agent or any Lender in reliance upon such payment or application of proceeds. The provisions of this Section 2.21 shall survive the termination of this Agreement.

  • 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.

  • Accrued Payments In the event Executive’s employment under this Agreement is terminated during the Term, by the Company other than for Cause or by Executive for Good Reason, Executive shall in all events be paid all accrued but unpaid Base Salary, earned but unpaid Incentive Compensation for any prior year, reimbursable expenses and other accrued benefits, if any, through the date of termination.

  • Deferred Payments “Deferred Payments” 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 to be paid or provided to Executive (or Executive’s estate or beneficiaries), that in each case, when considered together, are considered deferred compensation under Section 409A.

  • Estimated Payments During each calendar year or partial calendar year after the Base Year, in addition to Monthly Rent, Tenant shall pay to Landlord on the first day of each month an amount equal to one-twelfth (1/12) of the product of Tenant's Share multiplied by the "Estimated Operating Expenses" (defined below) for such calendar year. "Estimated Operating Expenses" for any calendar year means Landlord's reasonable estimate of Operating Expenses for such calendar year, less the Operating Expenses for the Base Year and shall be subject to revision according to the further provisions of this Section 5.2 and Section 5.3. During any partial calendar year, Estimated Operating Expenses shall be estimated on a full-year basis. During each December in which this Section 5.2 is applicable, or as soon after each December as practicable, Landlord shall give Tenant written notice of the Estimated Operating Expenses for the ensuing calendar year. On or before the first day of each month during the ensuing calendar year (or each month of the Term if the Term will expire before the end of the calendar year), Tenant shall pay to Landlord one-twelfth (1/12) of the product of Tenant's Share multiplied by the Estimated Operating Expenses for such calendar year; however, if such written notice is not given in December, Tenant shall continue to make monthly payments on the basis of the prior year's Estimated Operating Expenses until the month after such written notice is given, at which time Tenant shall commence making monthly payments based upon the revised Estimated Operating Expenses. In the month Tenant is first required to make a payment based upon the revised Estimated Operating Expenses, Tenant shall pay to Landlord for each month which has elapsed since December the difference between the amount payable based upon the revised Estimated Operating Expenses and the amount payable based upon the prior year's Estimated Operating Expenses. If at any time or times it reasonably appears to Landlord that the actual Operating Expenses for any calendar year will vary from the Estimated Operating Expenses for such calendar year, Landlord may, by written notice to Tenant, revise the Estimated Operating Expenses for such calendar year, and subsequent payments by Tenant in such calendar year shall be based upon such revised Estimated Operating Expenses.

  • Misdirected Payments If the Seller receives a misdirected payment of a Pool Asset from any Account Debtor or Obligor, the Seller shall remit such funds to a Collection Account no later than two (2) Business Days following receipt thereof. Until remitted to a Collection Account, the Seller shall hold such funds in trust as the Affected Parties’ exclusive property and safeguard such funds for the benefit of the Affected Parties.

  • Delayed Payment Premium balances that remain unpaid for more than thirty (30) days after the Remittance Date will incur interest from the end of the reporting period. The Remittance Date is defined as thirty (30) days after the end of the reporting period. Interest will be calculated using the index specified in Article 13.5 − Interest Rate.

  • Required Payments Unless otherwise provided in this Agreement, any payment of Tax required shall be due within 30 days of a Final Determination of the amount of such Tax.

  • Disputed Payments Within fifteen (15) calendar days after receipt of any invoice under this Contract, the Party receiving such invoice may, by notice to the Party rendering the invoice, dispute, in good faith, any amount set forth in such invoice; provided, however, that the disputing Party shall pay to the other Party the undisputed portion of the invoiced amount when due. Any dispute relating to any amount of an invoice that is not resolved by the Parties within fifteen (15) days after the receipt of the notice of such dispute shall be resolved as provided in Article 32. If the dispute (or any portion thereof) is resolved in favor of the disputing Party, the other Party shall, within five (5) Business Days after the date of such resolution, pay to the disputing Party amounts corresponding to such portion of the dispute that has been resolved in favor of the disputing Party plus interest at the Default Rate on such amounts from the date payable under the invoice to the date paid.

  • Delayed Payments In the event of a genuine dispute between State Auto or any Subsidiary and Executive regarding the amount or timing of benefits under this Agreement, a delay in the payment of amounts under this Agreement shall not cause Executive to violate Code Section 409A to the extent that such delay satisfies the conditions set forth in Code Section 409A and applicable regulations thereunder.

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