EARNING OF INTEREST Sample Clauses

EARNING OF INTEREST. As provided by law, deposits to interest earning accounts begin to accrue interest on the day Alpine receives credit for the funds , which depends on where the item is payable and/or what type of deposit is made (i.e., cash, check, wire, electronic transfer, etc.). Cash, wire and electronic transfer deposits and instruments drawn on Alpine will accrue interest as of the day of deposit. Generally, checks, drafts and other payment instruments begin to accrue interest one business day after the day of deposit. Funds do not earn interest on the day of withdrawal.
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EARNING OF INTEREST. 6.01 If the Optionee maintains the Option in good standing and have made all payments including the final payment, pursuant to paragraph 3, the Optionee shall have thereby earned a one hundred (100%) percent undivided Interest. 6.02 Forthwith after the Final Payment Date, the Optionor shall cause to be delivered to the Optionee duly executed transfers in recordable form in favour of the Optionee to transfer a 100% undivided interest in and to the Claims. 6.03 In the event that the Optionor is not owned 100% by Xxxx Xxxx at the time of the signing of this Agreement, the Optionor and Xxxx Xxxx undertakes to provide all consents necessary, required and reasonably requested by the Optionee or Columbia in order to complete this Agreement. 6.04 The Optionee shall have the right, within 24 months of the Approval Date to acquire up to 20% of the NCF from the Optionor, free and clear of any liens, charges or encumbrances whatsoever, upon payment of US$250,000 for each 1% of the NCF, up to a maximum of US$5,000,000 for the NCF of the Optionor. 6.05 In addition to payments set out in section 6.04, in the event of a buyout by the Optionee of the Optionor’s interest in the Claims, if the Optionee discovers additional ounces of gold on the Claims that are the subject of this Agreement, over and above the gold resources established by a National Instrument 43-101 report on the Claims (to be prepared after signing of this Agreement), the Optionor will receive additional payment for each additional ounce of gold resource established in the amount of 20% of $20.00, i.e., $4.00 for each additional ounce of gold resource established.
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EARNING OF INTEREST. The Parties agree that: 4.1 Once the cash payments, share issues and Work commitments of the First and Second years have been duly executed, SearchGold will hold a 50% interest in the Property. 4.2 Once the Work commitments of the Third year have been duly executed, SearchGold will have acquired an additional 20% interest in the Property to hold a total of 70% interest in the Property. 4.3 The object of the Agreement being to develop the Property, SearchGold may elect to incur the required exploration expenditures in a shorter time frame. In such an event: (a) SearchGold will have acquired a 50% interest in the Property at any time after the first anniversary date of the signature of the Agreement as soon as a total of $400,000 has been incurred in exploration expenditures and provided that all cash payments and shares issuances have been duly executed; (b) SearchGold will have acquired a 70% interest in the Property at any time after the first anniversary date of the signature of the Agreement as soon as a total of $620,000 has been incurred in exploration expenditures and provided that all cash payments and shares issuances have been duly executed. 4.4 Provided SearchGold has paid $50,000 to Niogold , has issued 750,000 Common Shares to Niogold and incurred $400,000 or $620,000 in the expenditures in either case, in accordance with the time periods stipulated in section 3.1 hereof, SearchGold may notify Niogold at any time, in one or the other situation, that it has satisfied the conditions necessary to acquire the Interest. 4.5 Upon receipt of such notice from SearchGold, 50% or 70%, as the case may be, of Niogold's right, title and interest in and to the Property shall immediately vest in SearchGold.
Sample 1
EARNING OF INTEREST. The Parties agree that: 5.1 Once the payments, share issues and work commitments contemplated by this Agreement have been duly executed, NioGold will at such time be deemed by the Parties hereto have acquired the Interest free and clear of all liens, charges and encumbrances, save and except for any liens, charges and encumbrances which may have arisen as a result of the exploration work undertaken on the claims by NioGold. 5.2 The object of the Agreement being to develop the Property, NioGold may elect to incur the required exploration expenditures in a shorter time frame. In such an event, NioGold will have acquired a 100% interest in the Property at any time after the first anniversary date of the execution of this Agreement as soon as a total of $100,000 in payments are made and $500,000 has been incurred in exploration expenditures and provided the Common Shares have been duly issued. 5.3 Provided NioGold has satisfied its aggregate payments and obligations in accordance with the time periods as stipulated in section 3.1. hereof, NioGold shall notify Maxima at any time, in one or the other situation, that it has satisfied the conditions necessary to acquire the Interest. 5.4 Upon receipt of such notice from NioGold, 100% of Maxima's right, title and interest in and to the Property shall immediately vest in NioGold.
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EARNING OF INTEREST. AZCO may earn its interest (the "AZCO Interest") in the Property by effecting the following: (a) Payments during the Option as follows: (i) immediately after execution hereof AZCO will subscribe to $25,000 CDN of CORTXX xxxmon stock at $0.25 CDN per common share for a total of 100,000 CORTXX xxxmon shares; (ii) AZCO will assume payment responsibility during the Option for the Option Payments and Finder's Fee; and (b) incurring, or arranging for the incurring of, Expenditures during the Option in respect to the Property as follows: (i) during the first year following the Effective Date of this Agreement the sum of $75,000 (which shall include a 2500 foot drill program); (ii) during the second year the sum of $150,000 (which shall include a 5000 foot drilling program); and (iii) during the third year the sum of $275,000; whereupon, upon effecting such foregoing Expenditures and making such foregoing payments of (a)(i) and (b) above and by assuming the obligations of (a)(ii), AZCO shall automatically be vested in a seventy (70%) percent undivided interest in the CORTXX Xxxerest, unless within 60 days of the third anniversary of this Agreement AZCO gives notice that it revokes the option to receive such interest. AZCO may elect at any time to accelerate its earning of the AZCO Interest by advancing Expenditures on an accelerated basis.
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EARNING OF INTEREST. The Parties agree that: 4.1 Once the share issues and work commitments contemplated by this Agreement have been duly executed, Alexandria will at such time be deemed by the Parties hereto have acquired the Interest free and clear of all liens, charges and encumbrances, save and except for any liens, charges and encumbrances which may have arisen as a result of the exploration work undertaken on the claims by Alexandria. 4.2 The object of the Agreement being to develop the Property, Alexandria may elect to incur the required exploration expenditures in a shorter time frame. In such an event, Alexandria will have acquired a 70% interest in the Property at any time after the first anniversary date of the execution of this Agreement as soon as a total of $65,000 has been incurred in exploration expenditures and provided the Common Shares have been duly issued. 4.3 Provided Alexandria has satisfied its aggregate payment obligations in accordance with the time periods stipulated in section 3.1 hereof, Alexandria shall notify NioGold at any time, in one or the other situation, that it has satisfied the conditions necessary to acquire the Interest. 4.4 Upon receipt of such notice from Alexandria, 70% of NioGold's right, title and interest in and to the Property shall immediately vest in Alexandria.
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EARNING OF INTEREST. The Parties agree that: 4.1 Once the payment and share issues and work commitments contemplated by this Agreement have been duly executed, NIOGOLD will at such time be deemed by the Parties here to have acquired the Interest free and clear of all liens, charges and encumbrances, save and except for any liens, charges and encumbrances which may have arisen as a result of the exploration work undertaken on the claims by NIOGOLD. 4.2 Provided NIOGOLD has satisfied its aggregate payment obligations in accordance with the time periods stipulated in section 3.1 hereof, NIOGOLD shall notify NSM at any time, in one or the other situation, that it has satisfied the conditions necessary to acquire the Interest. 4.3 Upon receipt of such notice from NIOGOLD, 50% of NSM's right, title and interest in and to the Claims shall immediately vest in NIOGOLD.
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EARNING OF INTEREST. The seller gets the installment which includes original price and interest. The interest is calculated in advance and added in total installments to be paid by the buyer.
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Related to EARNING OF INTEREST

  • Payment of Interest The Borrower to which a Loan has been made shall pay accrued interest on that Loan on the last day of each Interest Period (and, if the Interest Period is longer than six Months, on the dates falling at six monthly intervals after the first day of the Interest Period).

  • Pooling of Interests To its knowledge, based on consultation with its independent accountants, neither Parent nor any of its directors, officers or affiliates has taken any action which would interfere with Parent's ability to account for the Merger as a pooling of interests.

  • Payment of Interest; Defaulted Interest Interest on any Note which is payable, and is punctually paid or duly provided for, on any interest payment date shall be paid to the Person in whose name such Note (or one or more predecessor Notes) is registered at the close of business on the regular record date for such interest at the office or agency of the Company maintained for such purpose pursuant to Section 2.03 hereof. Any interest on any Note which is payable, but is not paid when the same becomes due and payable and such nonpayment continues for a period of 30 days shall forthwith cease to be payable to the Holder on the regular record date by virtue of having been such Holder, and such defaulted interest and (to the extent lawful) interest on such defaulted interest at the rate borne by the Notes (such defaulted interest and interest thereon herein collectively called “Defaulted Interest”) shall be paid by the Company, at its election in each case, as provided in clause (a) or (b) below: (a) The Company may elect to make payment of any Defaulted Interest to the Persons in whose names the Notes (or their respective predecessor Notes) are registered at the close of business on a Special Record Date (as defined below) for the payment of such Defaulted Interest, which shall be fixed in the following manner. The Company shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each Note and the date (not less than 30 days after such notice) of the proposed payment (the “Special Interest Payment Date”), and at the same time the Company shall deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such Defaulted Interest or shall make arrangements satisfactory to the Trustee for such deposit prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the Persons entitled to such Defaulted Interest as in this clause provided. Thereupon the Trustee shall fix a record date (the “Special Record Date”) for the payment of such Defaulted Interest which shall be not more than 15 days and not less than 10 days prior to the Special Interest Payment Date and not less than 10 days after the receipt by the Trustee of the notice of the proposed payment. The Trustee shall promptly notify the Company of such Special Record Date, and in the name and at the expense of the Company, shall cause notice of the proposed payment of such Defaulted Interest and the Special Record Date and Special Interest Payment Date therefor to be given in the manner provided for in Section 11.02 hereof, not less than 10 days prior to such Special Record Date. Notice of the proposed payment of such Defaulted Interest and the Special Record Date and Special Interest Payment Date therefor having been so given, such Defaulted Interest shall be paid on the Special Interest Payment Date to the Persons in whose names the Notes (or their respective predecessor Notes) are registered at the close of business on such Special Record Date and shall no longer be payable pursuant to the following clause (b). (b) The Company may make payment of any Defaulted Interest in any other lawful manner not inconsistent with the requirements of any securities exchange on which the Notes may be listed, and upon such notice as may be required by such exchange, if, after notice given by the Company to the Trustee of the proposed payment pursuant to this clause, such manner of payment shall be deemed practicable by the Trustee. Subject to the foregoing provisions of this Section 2.11, each Note delivered under this Indenture upon registration of, transfer of or in exchange for or in lieu of any other Note shall carry the rights to interest accrued and unpaid, and to accrue, which were carried by such other Note.

  • Sale of Interest No Borrower may sell, assign or transfer any interest in this Agreement, any of the other Loan Documents, or any of the Obligations, or any portion thereof, including, without limitation, such Borrower's rights, title, interests, remedies, powers, and duties hereunder or thereunder.

  • Rates and Payment of Interest (a) The Obligations shall bear interest (i) if a Base Rate Loan, at the Base Rate in effect from time to time, plus the Applicable Margin; (ii) if a LIBOR Loan, at LIBOR for the applicable Interest Period, plus the Applicable Margin; and (iii) if any other Obligation (including, to the extent permitted by law, interest not paid when due), at the Base Rate in effect from time to time, plus the Applicable Margin for Base Rate Revolver Loans. Interest shall accrue from the date the Loan is advanced or the Obligation is incurred or payable, until paid by Borrowers. If a Loan is repaid on the same day made, one day’s interest shall accrue. (b) During an Insolvency Proceeding with respect to any Borrower, or during any other Event of Default if Agent or Required Lenders in their discretion so elect, Obligations shall bear interest at the Default Rate (whether before or after any judgment). Each Borrower acknowledges that the cost and expense to Agent and Lenders due to an Event of Default are difficult to ascertain and that the Default Rate is a fair and reasonable estimate to compensate Agent and Lenders for this. (c) Interest accrued on the Loans shall be due and payable in arrears, (i) on the first day of each month; (ii) on any date of prepayment, with respect to the principal amount of Loans being prepaid; and (iii) on the Commitment Termination Date. Interest accrued on any other Obligations shall be due and payable as provided in the Loan Documents and, if no payment date is specified, shall be due and payable on demand. Notwithstanding the foregoing, interest accrued at the Default Rate shall be due and payable on demand.

  • Calculation and Payment of Interest (a) Interest on the outstanding principal amount from time to time of each Prime Rate Loan and Base Rate Canada Loan shall accrue from day to day from and including the date on which credit is obtained by way of such Loan to but excluding the date on which such Loan is repaid in full (both before and after maturity and as well after as before judgment) and shall be calculated on the basis of the actual number of days elapsed divided by 365 or 366, as the case may be. (b) Interest on the outstanding principal amount from time to time of each LIBOR Loan shall accrue from day to day from and including the date on which credit is obtained by way of such Loan to but excluding the date on which such Loan is repaid in full (both before and after maturity and as well after as before judgment) and shall be calculated on the basis of the actual number of days elapsed divided by 360. (c) Accrued interest shall be paid, (i) in the case of interest on Prime Rate Loans and Base Rate Canada Loans, in arrears monthly on the 22nd day of each calendar month; and (ii) in the case of interest on LIBOR Loans, on the last day of the applicable Interest Period; provided that, in the case of Interest Periods of a duration longer than three months, accrued interest shall be paid no less frequently than every three months from the first day of such Interest Period during the term of such Interest Period and on the date on which such LIBOR Loans are otherwise required to be repaid.

  • Rates and Payment of Interest on Loans (a) Rates. The Borrowers promise to pay to the Agent for the account of each Lender interest on the unpaid principal amount of each Loan made by such Lender for the period from and including the date of the making of such Loan to but excluding the date such Loan shall be paid in full, at the following per annum rates: (i) during such periods as such Loan is a Base Rate Loan, at the Base Rate (as in effect from time to time) plus the Applicable Margin (utilizing the applicable "Base Rate Margin" as identified in the definition of Applicable Margin, it being acknowledged that the Applicable Margin is a negative number, the addition of which will result in an interest rate applicable to Base Rate Loans which is lower than the corresponding Base Rate); (ii) during such periods as such Loan (other than a Competitive Advance) is a LIBOR Loan, at the Adjusted Eurodollar Rate for such Loan for the Interest Period therefor plus the Applicable Margin (utilizing the applicable "LIBOR Margin" as identified in the definition of Applicable Margin); and (iii) with respect to each Competitive Advance, at the margin over the Adjusted Eurodollar Rate determined pursuant to Section 2.3. Notwithstanding the foregoing, during the continuance of an Event of Default, the Borrowers shall pay to the Agent for the account of each Lender interest at the Post-Default Rate on the outstanding principal amount of any Loan made by such Lender, on all Reimbursement Obligations and on any other amount payable by the Borrowers hereunder or under the Notes held by such Lender to or for the account of such Lender (including without limitation, accrued but unpaid interest to the extent permitted under Applicable Law).

  • Transfer of Interest Amount The Transfer of the Interest Amount will be made on the second Local Business Day following the end of each calendar month and on any other Local Business Day on which Posted Collateral in the form of Cash is Transferred to the Pledgor pursuant to Paragraph 3(b); provided, however, that the obligation of Party B to Transfer any Interest Amount to Party A shall be limited to the extent that Party B has earned and received such funds and such funds are available to Party B.

  • Accrual and Payment of Interest Interest shall accrue from and including the date of any Borrowing to but excluding the date of any prepayment or repayment thereof and shall be payable by the Borrower on a joint and several basis: (i) in respect of each Base Rate Loan, quarterly in arrears on the last Business Day of each March, June, September and December (ii) in respect of each Eurodollar Loan, on the last day of each Interest Period applicable thereto and, in the case of an Interest Period in excess of three months, on the dates that are successively three months after the commencement of such Interest Period; (iii) in respect of any Swing Loan, on the Swing Loan Maturity Date applicable thereto; and (iv) in respect of all Loans, other than Revolving Loans accruing interest at the Base Rate, on any repayment, prepayment or Conversion (on the amount repaid, prepaid or Converted), at maturity (whether by acceleration or otherwise), and, after such maturity or, in the case of any interest payable pursuant to Section 2.11(c), on demand.

  • Computation of Interest on Debt Securities Interest, if any, on the Debt Securities shall be computed on the basis of a 360-day year of twelve 30-day months, except as may otherwise be provided pursuant to Section 2.03.

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