Common use of Fixed Payment Clause in Contracts

Fixed Payment. 3.3.1. A Qualifying Program Claimant’s Points award shall be considered to be “Pre-Special Review” when the entire process described in Section 3.2 for determining such award (including any appeals to the Special Master) has been completed with respect to such Qualifying Program Claimant. 3.3.2. If a Qualifying Program Claimant’s Pre-Special Review Points award is less than the Special Review Marker (any such Qualifying Program Claimant, a “Special Marker QPC”), then such Qualifying Program Claimant shall have the right, by delivering a notice to such effect to the Claims Administrator within 30 days of his receipt from the Claims Administrator of the last notice sent to him pursuant to Section 3.2, to elect to receive (in lieu of all other Settlement Payments) a fixed payment of $5,000 (a “Fixed Payment”; any Fixed Payment with respect to an MI Qualifying Program Claimant, the “MI Fixed Payment”; and any Fixed Payment with respect to an IS Qualifying Program Claimant, the “IS Fixed Payment”). 3.3.3. If a Special Marker QPC timely elects to receive the Fixed Payment, such Fixed Payment thereafter shall be paid in accordance with Article 5, provided that no Fixed Payment shall be paid prior to the expiration of Merck’s Walk Away Right (without such right having been exercised). 3.3.4. For the avoidance of doubt, this Section 3.3 is subject in all respects to Article 12 (including in particular Section 12.1.3). 3.3.5. A Qualifying Program Claimant’s Points award shall be considered to be “Final” when (i) such Qualifying Program Claimant’s Points award is considered to be Pre-Special Review, unless such Qualifying Program Claimant is a Special Review QPC (as defined below), and (ii) if such Qualifying Program Claimant is a Special Review QPC, after (and as) such Special Review QPC’s Pre-Special Review Points award is adjusted pursuant to Section 3.4. For the avoidance of doubt, a Points award having become Pre-Special Review or Final does not in any manner or to any extent affect the applicability of Article 10 to the related Program Claim.

Fixed Payment. 3.3.1. A Qualifying Program Claimant’s Points award shall be considered to be “Pre-Special Review” when the entire process described in Section 3.2 for determining such award (including any appeals to the Special Master) has been completed with respect to such Qualifying Program Claimant. 3.3.2. If a Qualifying Program Claimant’s Pre-Special Review Points award is less than the Special Review Marker (any such Qualifying Program Claimant, a “Special Marker QPC”)) , then such Qualifying Program Claimant shall have the right, by delivering a notice to such effect to the Claims Administrator within 30 days of his receipt from the Claims Administrator of the last notice sent to him pursuant to Section 3.2, to elect to receive (in lieu of all other Settlement Payments) a fixed payment of $5,000 (a “Fixed Payment”” ; any Fixed Payment with respect to an MI Qualifying Program Claimant, the “MI Fixed Payment”” ; and any Fixed Payment with respect to an IS Qualifying Program Claimant, the “IS Fixed Payment”” ). 3.3.3. If a Special Marker QPC timely elects to receive the Fixed Payment, such Fixed Payment thereafter shall be paid in accordance with Article 5, provided that no Fixed Payment shall be paid prior to the expiration of Merck’s Walk Away Right (without such right having been exercised). 3.3.4. For the avoidance of doubt, this Section 3.3 is subject in all respects to Article 12 (including in particular Section 12.1.3). 3.3.5. A Qualifying Program Claimant’s Points award shall be considered to be “Final” when (i) such Qualifying Program Claimant’s Points award is considered to be Pre-Special Review, unless such Qualifying Program Claimant is a Special Review QPC (as defined below), and (ii) if such Qualifying Program Claimant is a Special Review QPC, after (and as) such Special Review QPC’s Pre-Special Review Points award is adjusted pursuant to Section 3.4. For the avoidance of doubt, a Points award having become Pre-Special Review or Final does not in any manner or to any extent affect the applicability of Article 10 to the related Program Claim.