Form of Payment/Timing of Cash Payments Sample Clauses

Form of Payment/Timing of Cash Payments. (a) Each payment described in Sections 3.6(a) and Section 3.6(b) may, at Solazyme’s option, be satisfied in the form of cash, Stock, or a combination of the two forms, with the stock component (if being utilized) being no less than the equivalent of *, or the nearest whole-share equivalent thereof. Should Solazyme elect to satisfy any payment described in Section 3.6(a) or Section 3.6(b) in Stock (in whole or in part), Solazyme will, in addition to the payment in stock, pay to ADM in cash, as of the date of each respective share issuance, an * Certain information on this page has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. additional premium calculated as the product of (a) * (obtained as indicated in Section 3.8), and (b) the number of shares issued to ADM for each respective payment. (b) For payments described in Section 3.6(c), Section 3.6(d) and/or Section 3.6(e) that are paid in cash (in whole or in part) such cash payment shall be made in arrears in equal monthly installments over the course of the applicable year. (c) Solazyme will have the option to make all, or a portion, of each payment described in Section 3.6(c), Section 3.6(d), and/or Section 3.6(e) in Stock rather than cash on the last Business Day of January in the applicable year, with the stock component (if being utilized) being no less than the equivalent of *, or the nearest whole-share equivalent thereof, and in such case shall also pay to ADM, as of the date of the respective share issue, an additional premium, in cash, calculated as the product of (a) * (obtained as indicated in Section 3.8), and (b) the number of shares issued to ADM for each respective payment. In addition, Solazyme shall reimburse ADM for customary brokerage and SEC fees actually incurred in connection with the sale of the shares issued for each respective payment; provided ADM informs Solazyme of such fees within thirty (30) days of the Stock payment date. (d) The issuance price per share of any Stock delivered in lieu of cash pursuant to Section 3.6 shall be equal to the volume weighted average price (“VWAP”) of shares of the Stock, as reported by Bloomberg, over the last three (3) trading days immediately preceding (but not including) the date the payment is due (as described in this Article 3). The product of the VWAP per share and the number of shares of Stock issued will be equal to the respecti...
Sample 1Sample 2
AutoNDA by SimpleDocs

Related to Form of Payment/Timing of Cash Payments

  • Timing of Payments All payments of Expenses (including without limitation Expense Advances) by the Company to the Indemnitee pursuant to this Agreement shall be made to the fullest extent permitted by law as soon as practicable after written demand by Indemnitee therefor is presented to the Company, but in no event later than thirty (30) business days after such written demand by Indemnitee is presented to the Company, except in the case of Expense Advances, which shall be made no later than ten (10) business days after such written demand by Indemnitee is presented to the Company.

  • Timing of Payment Notwithstanding anything herein to the contrary, if the date on which any payment is to be made pursuant to this Indenture or the Notes is not a Business Day, the payment otherwise payable on such date shall be payable on the next succeeding Business Day with the same force and effect as if made on such scheduled date and (provided such payment is made on such succeeding Business Day) no interest shall accrue on the amount of such payment from and after such scheduled date to the time of such payment on such next succeeding Business Day and the amount of any such payment that is an interest payment will reflect accrual only through the original payment date and not through the next succeeding Business Day.

  • Form of Payments All payments to Holders will be made as Automated Clearing House (ACH) deposits into an account designated by each Holder at the Site.

  • Distribution of Payments On and after the Effective Date, the Agent shall make all payments under the Loan Documents in respect of each Assigned Interest (a) in the case of amounts accrued to but excluding the Effective Date, to Assignor and (b) otherwise, to Assignee.

  • Timing of Payment or Performance When the payment of any obligation or the performance of any covenant, duty or obligation is stated to be due or performance required on a day which is not a Business Day, the date of such payment (other than as described in the definition of Interest Period) or performance shall extend to the immediately succeeding Business Day.

  • Non-Duplication of Payment or Benefits For purposes of clarity, in the event of a Qualifying Pre-CIC Termination, any severance payments and benefits to be provided to the Executive under Section 3(b) will be reduced by any amounts that already were provided to the Executive under Section 3(a). Notwithstanding any provision of this Agreement to the contrary, if the Executive is entitled to any cash severance, continued health coverage benefits, or vesting acceleration of any equity awards (other than under this Agreement) by operation of applicable law or under a plan, policy, contract, or arrangement sponsored by or to which any member of the Company Group is a party (“Other Benefits”), then the corresponding severance payments and benefits under this Agreement will be reduced by the amount of Other Benefits paid or provided to the Executive.

  • Form of Payment On the Closing Date (as defined below), (i) the Buyer shall pay the purchase price for the Note to be issued and sold to it at the Closing (as defined below) (the “Purchase Price”) by wire transfer of immediately available funds to the Company, in accordance with the Company’s written wiring instructions, against delivery of the Note in the principal amount equal to the Purchase Price as is set forth immediately below the Buyer’s name on the signature pages hereto, and (ii) the Company shall deliver such duly executed Note on behalf of the Company, to the Buyer, against delivery of such Purchase Price.

  • Death During Distribution of a Benefit If the Executive dies after any benefit distributions have commenced under this Agreement but before receiving all such distributions, the Bank shall distribute to the Beneficiary the remaining benefits at the same time and in the same amounts they would have been distributed to the Executive had the Executive survived.

  • Payment of Benefit The Company shall pay the annual benefit to the Executive in 12 equal monthly installments commencing with the month following the Executive’s Normal Retirement Date, paying the annual benefit to the Executive for a period of 15 years.

  • Termination of Payment Fund Any portion of the Payment Fund that remains undistributed to the holders of Certificates and Book Entry Shares for twelve months after the Effective Time shall be delivered by the Paying Agent to the Parent, upon demand, and any holder of a Certificate or Book Entry Shares who has not theretofore complied with this Article II shall thereafter look only to the Parent for payment of the Merger Consideration, but shall have no greater rights against the Parent than may be accorded to general unsecured creditors of the Parent under applicable law.

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!