Common use of Failure to Make Guaranty Reimbursement Clause in Contracts

Failure to Make Guaranty Reimbursement. If the Guaranty Reimbursement is not timely paid or satisfied in full as described in Section 8(b), then (i) such deficient amount shall accrue, and Kxxxxxx shall owe to the Company, interest per annum (360 day year) thereon at the prime rate (as reported in the Wall Street Journal with regard to large money center banks) plus two percent (2%) compounded quarterly until paid in full and (ii) such nonpayment shall entitle the Company, at its discretion, to terminate the employment (whether or not under any written employment contract) of Kxxxxxx for "Cause" and without any obligation to make further or subsequent payments to Kxxxxxx (as salary, bonus, severance compensation or otherwise but excluding accrued and unpaid compensation).

Failure to Make Guaranty Reimbursement. If the Guaranty Reimbursement is not timely paid or satisfied in full as described in Section 8(b), then (i) such deficient amount shall accrue, and Kxxxxxx Rxxxx shall owe to the Company, interest per annum (360 day year) thereon at the prime rate (as reported in the Wall Street Journal with regard to large money center banks) plus two percent (2%) compounded quarterly until paid in full and (ii) such nonpayment shall entitle the Company, at its discretion, to terminate the employment (whether or not under any written employment contract) of Kxxxxxx Rxxxx for "Cause" and without any obligation to make further or subsequent payments to Kxxxxxx Rxxxx (as salary, bonus, severance compensation or otherwise but excluding accrued and unpaid compensation).

Failure to Make Guaranty Reimbursement. If the Guaranty Reimbursement is not timely paid or satisfied in full as described in Section 8(b), then (i) such deficient amount shall accrue, and Kxxxxxx Jxxxxx shall owe to the Company, interest per annum (360 day year) thereon at the prime rate (as reported in the Wall Street Journal with regard to large money center banks) plus two percent (2%) compounded quarterly until paid in full and (ii) such nonpayment shall entitle the Company, at its discretion, to terminate the employment (whether or not under any written employment contract) of Kxxxxxx Jxxxxx for "Cause" and without any obligation to make further or subsequent payments to Kxxxxxx Jxxxxx (as salary, bonus, severance compensation or otherwise but excluding accrued and unpaid compensation).

Failure to Make Guaranty Reimbursement. If the Guaranty Reimbursement is not timely paid or satisfied in full as described in Section 8(b), then (i) such deficient amount shall accrue, and Kxxxxxx Bxxxx shall owe to the Company, interest per annum (360 day year) thereon at the prime rate (as reported in the Wall Street Journal with regard to large money center banks) plus two percent (2%) compounded quarterly until paid in full and (ii) such nonpayment shall entitle the Company, at its discretion, to terminate the employment (whether or not under any written employment contract) of Kxxxxxx Bxxxx for "Cause" and without any obligation to make further or subsequent payments to Kxxxxxx Bxxxx (as salary, bonus, severance compensation or otherwise but excluding accrued and unpaid compensation).