Effect on Payments Clause Samples
The 'Effect on Payments' clause defines how certain events or actions impact the payment obligations between parties under an agreement. Typically, this clause clarifies whether payments are to be suspended, accelerated, reduced, or otherwise modified in response to specific triggers such as termination, breach, or force majeure events. For example, it may specify that upon early termination, only accrued but unpaid amounts are due, or that prepayments are non-refundable. Its core practical function is to ensure both parties understand how their financial responsibilities change in various scenarios, thereby reducing disputes and providing financial certainty.
Effect on Payments. Upon the expiration or termination of this Agreement, and provided an invoice is not being validly disputed, the Company will pay to Zix all fees payable to Zix as outlined in Section 3 or the Reseller Portal that have not yet been paid.
Effect on Payments. If an Event of Default shall have occurred and be continuing, the Borrowers shall not make payments in respect of Corporate Overhead or any Restricted Payments (including, without limitation, loans to ▇▇▇▇▇▇ ▇▇▇▇▇) to the Guarantors, Stockholders or any Affiliates, in excess of the levels specified in Section 5.05(a) hereof.
Effect on Payments. If a Force Majeure Event results in the Manufacturer being unable to carry out its obligations, the Purchaser shall cease to be liable to make any payment which would otherwise have been due on fulfilment of that obligation until and to the extent that the Manufacturer has performed that obligation.
Effect on Payments. 63 Section 9.04. Consent to Receiver........................................63 X. THE AGENT.................................................................63 Section 10.01. Appointment, Powers and Immunities.........................63
Effect on Payments. If an Event of Default shall have occurred and be continuing, the Companies shall not (a) make payments in respect of Corporate Overhead in excess of Three Million Dollars ($3,000,000) per Fiscal Year, or (b) make any other Restricted Payments to the Stockholders or anY Affiliates.
Effect on Payments. If an Event of Default shall have occurred and be continuing, the Companies shall not (a) make payments in respect of Corporate Overhead in excess of Four Million Dollars ($4,000,000) per Fiscal Year, or (b) make any other Restricted Payments to the Stockholders or any Affiliates."
Effect on Payments. For any period of time when Seller does not provide energy under this Agreement due to a Force Majeure Event, (i) Seller shall not be entitled to recover any lost revenues for the failure to provide such energy; and (ii) in no circumstance shall such energy that is not provided due to a Force Majeure Event be included in the determination of Delivered Energy under this Agreement for any purpose; provided, however, that such energy not provided shall be Curtailed Energy as applicable pursuant to the definition of “Curtailed Energy” under Section 1.1.