Make-Up Payments. Through the earlier of (i) December 31, 2016, (ii) the Executive’s death, or (iii) the Executive’s termination for Cause (as hereinafter defined) or resignation without Good Reason (as hereinafter defined), the Company will pay the Executive $45,064.37 (each a “Make Up Payment”) on or before March 15 of each calendar year to cover premiums on a life insurance policy (reflecting the prior change in the split dollar arrangement). This provision shall survive any expiration of the Employment Term and any termination of the Executive’s employment (other than due to the Executive’s death or a termination of the Executive’s employment prior to the expiration of the Employment Term by the Company for Cause or by the Executive without Good Reason).
Make-Up Payments a) Where an Employee sustains an injury/illness/condition, where appropriate the claim will be taken through the natural process of the Workcover legislation that’s current at the time of injury/illness/condition.
Make-Up Payments. If, with respect to any calendar month, LDE has accrued but unpaid Undistributed Priority Return on the fifteenth day following said calendar month, then PHYMED shall make a cash payment directly to LDE no later than the twentieth day following said calendar month in an amount necessary to eliminate LDE's Undistributed Priority Return (a "UPR Elimination Payment"). If PHYMED does not make the UPR Elimination Payment (if due) in full by the twentieth day following each relevant calendar month, then LDE shall notify PHYMED in writing of such failure. If PHYMED does not make the relevant UPR Elimination Payment in full within five Business Days following the written notice from LDE referred to in the immediately preceding sentence, then (a) PHYMED shall continue to have an unconditional obligation to make the UPR Elimination Payment (with interest at the greater of (i) 15 percent per annum, or (ii) the LDE Rate on the date of such default plus 800 basis points, and (b) PHYMED's Sharing Ratios for each calendar month after the date of failure to pay the UPR Elimination Payment shall be equal to 50 percent of what it otherwise would be, and the Sharing Ratio of LDE shall be equal to the sum of (i) the Sharing Ratio that it would have absent such default by PHYMED, plus (ii) the amount of Sharing Ratio lost by PHYMED as a result of such default.
Make-Up Payments. If, as a result of a failure of Lessee to exercise an applicable option or otherwise, this Lease terminates with respect to the portion of the Leased Property relating to any or all of the Facilities, with Lessor remaining in possession of such portion of the Leased Property (whether all or any portion of the Leased Property, as applicable, the “Retained Property”) (other than with respect to the events described in Article XIV and Article XV of this Lease which events are addressed in said Articles), then Lessee shall pay Lessor the excess, if any, of the Option Price for the Retained Property over the amount determined to be the Fair Market Value Purchase Price of the Retained Property (the “MakeUp Payment”). Consistent with the parties’ treatment of the Original Prime Leases and the transactions under this Lease as a secured financing for federal, state and local income tax purposes, Lessor’s retention of the Retained Property shall be viewed as a sale by Lessee to Lessor for federal, state and local income tax purposes and the Make-Up Payment, together with Lessor’s retention of the Retained Property, shall be viewed as full satisfaction of the obligation to repay an amount equal to the Option Price and shall be reported by the parties for federal, state and local income tax purposes in a manner consistent with the aforementioned characterization. Subject to the exercise of the Marketing Option (as defined below), the Fair Market Value Purchase Price of the Retained Property shall be determined by the appraisal process set forth in Article XXXIII hereof which shall be undertaken and completed within sixty (60) days following the effective date of termination (provided, however, that Lessee shall be responsible for and shall pay all costs of such appraisal process). Notwithstanding any provision hereof with respect to any such termination that results from an uncured breach or default by Lessee and Lessee has not exercised an applicable option to purchase the Retained Property, at Lessor’s sole option and discretion, exercisable by giving written notice to Lessee within thirty (30) days following the date of such termination, Lessor may elect not to pursue the appraisal procedures set forth in Article XXXIII, but rather shall seek to determine the fair market value of the Retained Property through an actual sale of the Retained Property to an unrelated third party in an arm’s length transaction (the “Marketing Option”), in which case, the actual sales p...
