Expiration Payment Sample Clauses

Expiration Payment. In the event that the Regulatory Office determines, at any time from and after the second Rate Rebasing Date, that the Concessionaire shall incur significant capital expenditures in carrying out the Concessionaire’s responsibilities under this Agreement which (in the judgment of the Regulatory Office) should not be recovered through immediate rate adjustments, the Regulatory Office may propose to the Concessionaire that this Agreement be amended to provide for the payment to the Concessionaire on the Expiration Date of a lump-sum amount designed to reimburse the Concessionaire for all or a portion of such unforeseen capital expenditure (the “Expiration Payment”). Any Expiration Payment shall be treated by the Regulatory Office as an anticipated Receipt for purposes of making rate adjustment calculations under this Article 9. Any Expiration Payment may be discharged through the delivery to the Concessionaire of a Philippine Peso-denominated debt instrument issued by MWSS or by another public- sector entity owned by the Republic but, in either case, ranking at least pari passu with all other unsecured and unsubordinated external debt obligations of the Republic, having a cash value to such Expiration Payment; provided, that any representation by the MWSS relating to any obligation or guarantee to be assumed by the Republic shall only be valid upon the issuance of an Undertaking signed by the Head of the Supervising Agency and the Secretary of Finance, as approved by the President. The Concessionaire, however, shall be precluded from recovering the aforementioned unforeseen capital expenditure both as Expiration Payment and as part of the Early Termination Amount. In other words, for the avoidance of doubt, the Concessionaire shall be precluded from (a) being compensated twice for the same amount of incurred capital expenditures; (b) being compensated for all capital and other expenditures which have been disallowed by the Regulatory Office or the latter’s successors and assigns; and (c) being compensated and/or receiving a return beyond the amounts in Section 12 of the Charter and/or through the ADR. For this purpose, the Concessionaire is required to submit to MWSS at every Rebasing Period a list of all assets which costs have already been recovered through tariff. Such assets cannot be used as security for any indebtedness by Concessionaire.
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Expiration Payment. In the event that the Regulatory Office determines, at any time from and after the second Rate Rebasing Date, that the Concessionaire shall incur significant capital expenditures in carrying out the Concessionaire’s responsibilities under this Agreement which (in the judgment of the Regulatory Office) should not be recovered through immediate rate adjustments, the Regulatory Office may propose to the Concessionaire that this Agreement be amended to provide for the payment to the Concessionaire on the Expiration Date of a lump-sum amount designed to reimburse the Concessionaire for all or a portion of such unforeseen capital expenditure (the “Expiration Payment”). Any Expiration Payment shall be treated by the Regulatory Office as an anticipated Receipt for purposes of making rate adjustment calculations under this Article 9. Any Expiration Payment may be discharged through the delivery to the Concessionaire of a U.S. Dollar-denominated debt instrument issued by MWSS or by another public-sector entity owned by the Republic but, in either case, with the full faith and credit guarantee of the Republic, ranking at least pari passu with all other unsecured and unsubordinated external debt obligations of the Republic, having a cash value to such Expiration Payment.
Sample 1
Expiration Payment. If Executive is employed on the last day of the Employment Period (including any extension thereof under Section 2.2 and excluding any early termination thereof pursuant to Section 4), Executive shall receive the Executive’s current Base Salary for one additional year, with such amount payable in accordance with the Company’s payroll system in the same manner and at the same time as though the Executive remained employed by the Company.
Sample 1
Expiration Payment. Upon the Option Expiration Date without exercise, Seller shall reimburse Buyer the Option Money (the “Expiration Payment”), which shall be due and payable within ten (10) days following the Option Expiration Date. Notwithstanding the foregoing, there shall be deducted from the Expiration Payment due Buyer pursuant to this Section 3(c) the amount of any cost actually paid or incurred by Seller related to the Property, including, inter alia, engineering, designing, marketing and promotion, option extension, planning costs, but excluding Seller’s attorneys’ fees, legal costs and accounting fees and costs. The deducted amounts shall be evidenced by reasonable substantiation that such amounts were paid (for example, without limitation, cancelled checks or paid invoices).
Sample 1

Related to Expiration Payment

  • Termination Payment The final payment delivered to the Certificateholders on the Termination Date pursuant to the procedures set forth in Section 9.01(b).

  • Termination Payments In the event of termination of the Executive’s employment during the Employment Period, all compensation and benefits set forth in this Agreement shall terminate except as specifically provided in this Section 8.

  • Non-Payment The Borrower or any other Loan Party fails to pay (i) when and as required to be paid herein, any amount of principal of any Loan or any L/C Obligation, or (ii) within three days after the same becomes due, any interest on any Loan or on any L/C Obligation, or any fee due hereunder, or (iii) within five days after the same becomes due, any other amount payable hereunder or under any other Loan Document; or

  • Separation Payment An ASF Member shall be compensated at the final rate of pay for all unused, accumulated vacation, leave time upon separation from state service, or movement to a vacation ineligible position. An employee on an unpaid leave of absence of more than one (1) year for a purpose other than accepting an unclassified position in state civil service, or an employee on layoff that results in separation from service, may elect to be compensated at the final rate of pay for unused accumulated vacation leave. This accumulated vacation payout shall not exceed two hundred and seventy-five (275) hours, except in the case of the ASF Member's death. Calculation of an ASF Member's hourly rate for purposes of computing vacation separation payment shall be based upon a base of two thousand eighty-eight (2,088) working hours per year. Appointment periods of less than one

  • Termination for Non-Payment We may terminate this Agreement with immediate effect by giving written notice to you if you fail to pay any amount due under this Agreement on the due date for payment and remain in default not less than thirty

  • Retention Payment 6.4.1 There are two situations in which an employee may be eligible to receive a retention payment. These are total facility closures and relocation of work units.

  • Down Payment The Mortgagor has contributed at least 5% of the purchase price for the Mortgaged Property with his/her own funds.

  • Payments on Early Termination For the purpose of Section 6(e) of this Agreement:

  • Rent Payment Tenant shall pay the Base Rent for the Premises and any additional rent provided herein without deduction or offset. Rent for any partial month during the lease term shall be prorated to reflect the number of days during the month that Tenant occupies the Premises. Additional rent means amounts determined under Section 19 of this Lease and any other sums payable by Tenant to Landlord under this Lease. Rent not paid when due shall bear interest at the rate of one-and-one-half percent per month until paid. Landlord may at its option impose a late charge of $.05 for each $1 of rent for rent payments made more than 10 days late in lieu of interest for the first month of delinquency, without waiving any other remedies available for default. Failure to impose a late charge shall not be a waiver of Landlord’s rights hereunder.

  • Rent Payments Xxxxxx agrees to pay rent to the Landlord during the term of this Lease in equal monthly installments of $975, which shall be paid on or before the first day of the month. Xxxxxx agrees that if rent is not paid in full on or before 1st day of the month, Tenant will pay a late charge of $97.50 as allowed by applicable Georgia law.The prorated rent from the commencement of this Lease to the first day of the following month is $975, which amount shall be paid at the execution of this Lease. Xxxxxx agrees that rent shall be paid in lawful money of the United States via the Xxxxx Residents App. Rent payments shall be made payable to and mailed or delivered to the following address: P.O. Box 17942 Atlanta, GA 30316. All notices from Tenant to Landlord under this Lease and applicable Georgia law shall be delivered to the above address. Xxxxxx agrees that rent will be deemed paid only once Landlord or Landlord’s agent receives the rent monies, either by mail or by delivery to the above address. If there are multiple Tenants signed to this Lease, all such Tenants are jointly, severally and individually bound by, and liable under, the terms and conditions of this Lease. A judgment entered against one Tenant shall be no bar to an action against other Tenants.

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