Loyalty Payments. 22. Norco may, at its discretion, pay Loyalty Payments to the Supplier in addition to the Base Price. The Loyalty Payments as at the Commencement Date are set out in Schedule 2. Norco may increase Loyalty Payments during a financial year by notice to the Supplier.
Loyalty Payments. 23. Norco may, at its discretion, pay Loyalty Payments to the Supplier in addition to the Base Price Payment. The Loyalty Payments as at the Commencement Date are set out in Schedule 2. Norco may increase Loyalty Payments during the Term by notice to the Supplier.
Loyalty Payments. 8.1 The parties agree that any loyalty payment must not be made on a condition that the Farmer will:15
Loyalty Payments. 8.1 The parties agree that any loyalty payment must not be made on a condition that the Xxxxxx will:15
Loyalty Payments. Any Loyalty Payments shall be made by the Company only prior to the Closing Date and shall not be accrued for after the Closing Date. In the event not all Loyalty Payments are made prior to the Closing Date, neither the Company nor the Buyer shall be obligated any longer to make any such Loyalty Payments in whole or in part.
Loyalty Payments. (a) The Buyer acknowledges that the Sellers will pay in cash up to $600,000 as "loyalty payments" to certain of its key employees for services previously rendered to the Company and as "matching" payments under the Xxxxxx-Xxxxx 401(k) Savings Plan for the period from January 1, 1999 to the Closing Date (together, the "Loyalty Payments"), at their own expense, from the cash portion of the purchase price payable to the Sellers at Closing (but not by the Company prior to Closing). The Buyer agrees that, in the event the net income of the Company for the year ending December 31, 1999 exceeds the net income projected for such year, as reflected in the "Xxxxxx Xxxxx Consolidated Income Statement for the 12 [sic] Period Ending December 31, 1999 Budget," attached as EXHIBIT A-11 hereto (the "Xxxxxx Xxxxx Budget") (the amount of such excess, the "Excess Amount"), by $600,000 or more, the Buyer shall pay and reimburse the Sellers for all Loyalty Payments paid by the Sellers up to $600,000. The Buyer shall make payment of the foregoing reimbursement to the Sellers by no later than March 15, 2000, following its review of all relevant books and records. If the parties do not agree on the amount of Excess Income (the amount so disputed, the "Disputed Amount"), they shall resolve their differences as set forth in Section 11(b) below. If the Sellers do not make any or all of the Loyalty Payments to Company employees as contemplated by this Section 11(a), the Company and the Sellers shall have no liability or obligation to such employees for any such payments after the Closing, and neither the Sellers nor the Company shall commit the Sellers or the Company to make them.
Loyalty Payments. 1 Merger..........................................................................................................1
