Guaranteed Payment. The above Management Fees and Technical Manager Fees in Section 9.3(a), the Incentive Bonus in Section 9.3(b) and the Bonus Payment in Section 9.5 will be treated as a “guaranteed payment” to the Managing Member under Section 707(c) of the Code.
Guaranteed Payment. Agent guarantees that Merchant shall receive an amount equal to forty-nine and one-half percent (49.5%) of the Retail Value (the "Guaranteed Payment") of the Merchandise. In the event that the aggregate value of all the Merchandise shall be less than Five Million Seven Hundred Thousand Dollars ($5,700,000), the Merchant will transfer to the Stores' inventory of a mix and quality to be agreed upon so that the inventory level is equal to or greater than $5,700,000. In addition to the Guaranteed Payment, Merchant will be entitled to sixty percent (60%) of the Net Profit of the Sale. For purposes of this Agreement, Net Profit of the Sale is the gross proceeds of the sale after payment of the Guaranteed Payment, Expenses of Sale and payment to Agent of an amount equal to one percent (1%) of the Retail Value. Merchant shall retain all amounts collected during the Sale, as well as any insurance proceeds resulting from the loss of any Merchandise subject to this Agreement (the "Proceeds"), out of which it shall pay Expenses of Sale, as set forth below, and satisfy the Guaranteed Payment. After satisfaction of the Guaranteed Payment and payment of Expenses of Sale, and subject to the sharing of the Net Profit of the Sale set forth above, Agent shall be entitled to receive its share of the Proceeds as its commission herein. As security for the Guaranteed Payment and Expenses of Sale, Agent will deliver to Merchant an irrevocable Letter of Credit, in a form attached hereto as Schedule B from Wellx Xxxgo Bank in the amount of $2,115,000 having an expiration date of not earlier than November 30, 2000. Reductions in the Letter of Credit amount will be permitted as appropriate. In the event, following the End Date, that Proceeds from the Sale are insufficient to satisfy the Guaranteed Amount and Expenses of Sale, Merchant shall be entitled to draw down upon the Letter of Credit for the amount of the deficiency.
Guaranteed Payment. A payment that is due whether or not the Annuitant, or Joint Annuitant, if applicable, is alive on the payment due date, as described in the Schedule of Benefits on the Specifications page.
Guaranteed Payment. The Company shall pay the Executive a guaranteed payment at the rate of $200,000.00 per annum for the period beginning on the Effective Date through December 31, 2011 (the “Guaranteed Payment”), payable in equal monthly installments. For each year thereafter, the Executive’s Guaranteed Payment shall equal the sum of: (a) $200,000 and (b) the amount of the Initial Annual Allocation (as herein determined), if any, for the immediately preceding calendar year. (Any such amount shall constitute the “Guaranteed Payment” as of the time of the calculation.) For United States federal, state and local tax purposes, each Guaranteed Payment shall be treated and reported by the Company and the Partners as a “guaranteed payment” within the meaning of Section 707(c) of the Internal Revenue Code of 1986, as amended (the “Code”) and the Treasury Regulations promulgated thereunder.
Guaranteed Payment. (a) The Company shall make a Guaranteed Payment to the Managing Member, within the meaning of Section 707(c) of the Code, for the use of capital contributed to the Company by the Managing Member, in an amount equal to One Million Dollars ($1,000,000) per annum, for the period between the date hereof and the fifth anniversary hereof for a total of Five Million Dollars ($5,000,000).
(b) If any Guaranteed Payment is not paid on the due date thereof (other than by reason of the Managing Member's failure to cause the Company to pay it notwithstanding the availability of sufficient funds therefor), the amount of such Guaranteed Payment shall accrue interest at the prime rate of interest charged by Bank of America, N.A. to its most creditworthy customers, compounded annually, from the due date thereof to the date same is actually paid.
(c) All payments required under this Section 3.8 shall be made in dollars by wire transfer of federal funds to an account designated by the Managing Member or by certified or official bank check or checks in New York Clearing House or similar next day funds payable to the order of the Managing Member.
(d) If the Managing Member shall cease to be the Managing Member under this Agreement, then, from and after the date of such cessation, the Guaranteed Payment shall cease accruing to the Managing Member hereunder.
Guaranteed Payment. In the event the Company is liquidated or the Company exercises its redemption option pursuant to Section 6.17 hereof and, as of such date, (A) the cumulative Preferred Return as to a Preferred Unit Holder exceeds (B) the amount by which the cumulative Profits allocated to such Preferred Unit Holder pursuant to Section 3.1(c) exceeds the cumulative Losses allocated to such Preferred Unit Holder pursuant to Section 3.2(b), then the portion of the Redemption Price payable pursuant to Section 6.17 or the portion of the liquidation amount payable pursuant to Section 10.2(b) equal to the difference of (A) over (B) shall be paid to such Preferred Unit Holder as a payment for the use of such Preferred Unit Holder’s capital. Amounts paid pursuant to this Section 4.4 are intended to constitute guaranteed payments within the meaning of Section 707(c) of the Code.
Guaranteed Payment. Department will guarantee payment for a minimum of fifty (50) offenders per day, per month at the Warm Springs facility, regardless of the actual number of offenders in the facility.
Guaranteed Payment. The Employee will be eligible to receive a guaranteed payment ("Guaranteed Payment") equal to 50% of $260,000 which shall become payable to Employee in three (3) substantially equal installments if Employee is actively employed by the Company on the date which is (A) six (6) months following the Effective Date, (B) twelve (12) months following the Effective Date and (C) eighteen (18) months following the Effective Date, respectively, one such installment to be paid following each of the dates described in clauses (A), (B) and (C) above if the employment condition has been satisfied on such date.
Guaranteed Payment. The undersigned unconditionally guarantees to Management the full and timely performance of all of Tenant's covenants, conditions, and agreements in the Lease, including without limitation the payment of Rent, late fees, property damage, repair costs, animal violation fines or other fines, utility charges, and all other amounts which may become due under the Lease. In addition, the undersigned expressly agrees that the validity of the Guaranty of the Lease and the obligations of the undersigned shall not be terminated, affected, or impaired by reason of (i) any forbearance, receipt or release of security, settlement or compromises between Management and Tenant,
Guaranteed Payment. Department will guarantee payment for a minimum of thirty
