Eligible Payments Clause Samples
The 'Eligible Payments' clause defines which types of payments are recognized as valid or acceptable under the terms of an agreement. Typically, this clause outlines the criteria that payments must meet, such as being made in a specified currency, through approved methods (like wire transfer or check), and within certain timeframes. For example, it may specify that only payments received from verified accounts or within a particular jurisdiction are considered eligible. The core function of this clause is to ensure clarity and consistency in financial transactions, reducing the risk of disputes over what constitutes a proper payment under the contract.
Eligible Payments. In order to qualify for this reimbursement, the student loan payments must be made by the employee after the effective date of this agreement.
Eligible Payments. Following and contingent upon (x) the consummation of the transactions contemplated hereby, (y) the delivery of the releases noted below and (z) to the extent a member of management is entitled to payments and/or benefits that would result in an excise tax under Section 4999 of the Code, shareholder approval of the Eligible Payment pursuant to Section 280G(b)(5), the Buyer shall cause the Company to make each Eligible Payment to the applicable member of management to whom such Eligible Payment relates on or promptly following the thirteenth (13th) day following the Closing and, only in the case of the Releasing Executives, subject to the receipt by the Company of a release, substantially in the form attached hereto as Annex B, executed by each of the Releasing Executives within ten (10) days following the Closing Date; provided that, if a Releasing Executive does not deliver such release on or prior to the tenth day following the Closing, the Buyer shall deliver the amount owed to such Releasing Executive to the Seller by wire transfer of immediately available funds within two Business Days. Notwithstanding anything to the contrary contained in this Agreement, if the Company shall be required to withhold and pay over any Taxes in respect of the Eligible Payments, the Company shall withhold and pay over such Taxes to the relevant Governmental Entity in accordance with applicable Law and the Company shall send the recipient of the applicable Eligible Payment documentation evidencing payment of the amount or amounts so withheld and paid over.
Eligible Payments. The RTP System may be used, and you agree to use the RTP System, only for payments between a sender and receiver whose accounts are located in the United States. Even if you are otherwise permitted under the Agreement to receive payments to your account on behalf of another (such as in the case of a fiduciary account or an account for the benefit of a minor), you may not, and agree not to, receive RTP Payments to your account on behalf of any person or entity that is not residing or otherwise domiciled in the United States. We are under no obligation to accept, in whole or in part, any RTP Payment or other instruction that could result in our contravention of applicable law, including, without limitation, requirements of the U.S. Department of the Treasury's Office of Foreign Assets Control ("OFAC") and the Financial Crimes Enforcement Network ("FinCen").