First Lump Sum Payment Sample Clauses

First Lump Sum Payment. The Licensee shall pay VTT for the license herein granted a non-refundable lump sum payment in the amount of [*] euros when the Licensee a) first uses the technology covered by the Patent Rights to manufacture or to have manufactured Licensed Products; b) makes the first sale of a Licensed Product; c) concludes a Sub-license Agreement; or d) on the 31st of July 2019, whichever occurs first. The Licensee shall promptly notify VTT of the aforementioned triggering events by e-mail to the address identified in Clause 8.1, and VTT shall invoice the first lump sum payment promptly after receipt of said notice, or in case d) occurs first, VTT shall invoice the first lump-sum payment on the 31st of July 2019.
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First Lump Sum Payment. On July 1, 1996, each employee will be paid a lump sum equal to the excess of (i) three
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First Lump Sum Payment. Each employee will be paid a lump sum equal to three percent (3%) of the employee’s compensation for 1995, excluding pay elements not subject to general wage increases under Section 2(b) of this Article. Said lump sum will be paid on or after October 1, 1998, and no later than November 5, 1998.
Sample 1
First Lump Sum Payment. On each of the dates, January 15, April 1, July 1 and October 1, 2002 respectively, each eligible employee will receive a lump sum payment in the amount produced by the following computation: one-fourth (1/4) of three (3) percent of the employee’s compensation for 2001 less $100.00 health and welfare offset.
Sample 1

Related to First Lump Sum Payment

  • Lump Sum Payment Upon award of the contract for this improvement, the LA will pay to the STATE, in lump sum, an amount equal to 80% of the LA’s estimated obligation incurred under this Agreement, and will pay to the STATE the remainder of the LA’s obligation (including any nonparticipating costs) in a lump sum, upon completion of the project based upon final costs. Method B - Monthly Payments. Upon award of the contract for this improvement, the LA will pay to the STATE, a specified amount each month for an estimated period of months, or until 80% of the LA’s estimated obligation under the provisions of the Agreement has been paid, and will pay to the STATE the remainder of the LA’s obligation (including any nonparticipating costs) in a lump sum, upon completion of the project based upon final costs.

  • Lump Sum Payments The retiring allowance shall be paid in annual instalments, to a maximum of three

  • Interim payment At the end of each of the periods indicated in Annex I the Contractor shall submit to the Agency a formal request for payment accompanied by those of the following documents which are provided for in the Special Conditions: ➢ an interim technical report in accordance with the instructions laid down in Xxxxx X; ➢ the relevant invoices indicating the reference number of the Contract and of the order or specific contract to which they refer;

  • Lump Sum Severance Payment Payment of a lump sum amount equal to twelve (12) months of Executive’s then-current Base Salary plus the Pro Rated Bonus, less all customary and required taxes and employment-related deductions, paid on the first payroll date following the date on which the Release required by Paragraph 4(g) becomes effective and non-revocable, but not after seventy (70) days following the effective date of termination from employment.

  • Premium Payment The Bank shall pay any premiums due on the Policy.

  • 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 (1) year in duration shall be prorated on this basis. Except as provided in Article 16, Section C, Subdivision 4 which pertains to the separation payment to retirees, the separation payment will be made in cash.

  • Lump Sum The Change Order cost is determined by mutual agreement as a lump sum amount changing the Contract Sum allowed for completion of the Work. The Change Order shall be substantiated by documentation itemizing the estimated quantities and costs of all labor, materials and equipment required as well as any xxxx-up used. The price change shall include the cost percent allowed for the Contractor's overhead and profit and, if eligible, Time Dependent Overhead Costs.

  • Premium Payments If an employee with at least three years of service in the employ of the Shaker Heights Board of Education should exhaust his/her sick leave within the time specifications of this contract and is granted a leave of absence by the Board, the Board shall continue to pay his/her premiums in accordance with his/her work assignment for the following fringe benefits for a period not to exceed twelve (12) months. The payment of such premiums will cease on the effective date an employee retires, resigns, goes on disability retirement or his/her contract is terminated. 1. PPO medical coverage 2. Prescription drug coverage

  • Interim Payments Interim payments may be made by Department, at its discretion, if the completion of deliverables to date have first been accepted in writing by Department's Grant Manager.

  • PRE-PAYMENT The Tenant shall: (check one)

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