Maximum Amount of Payments Sample Clauses

Maximum Amount of Payments. If it is determined that any payment PCCI has made or PCBC or PCBNA makes to or for the benefit of Executive, under this Agreement or otherwise, is subject to the federal excise taxes imposed on golden parachute payments, PCBC will reduce such total payments subject to federal excise taxes until such payments are no longer subject to federal excise taxes. (a) If all or any amount paid to Executive by PCCI or payable by PCBC (or, in each instance, any subsidiary or affiliate thereof), whether under this Agreement or otherwise (a “Payment”), is subject to any tax under Section 4999 of the Internal Code of 1986, as amended, (the “Code”), or any similar federal or state law (an “Excise Tax”), PCBC shall reduce such payments to Executive until such payments are no longer subject to any tax under Section 4999 of the Code . (b) All calculations under this section 12 shall be made initially by PCBC and PCBC’s tax advisor and shall provide prompt written notice thereof to Executive. Upon request of Executive, PCBC shall provide Executive with sufficient tax and compensation data to enable Executive or his tax advisor to independently make the calculations described in subsection (a). above and PCBC shall reimburse Executive for reasonable fees and expenses incurred for any such verification. (c) If Executive provides written notice to PCBC of any objection to the results of PCBC’s calculations within sixty (60) days of Executive’s receipt of written notice thereof, the dispute shall be referred for determination to tax counsel selected by the independent auditors of PCBC (“Tax Counsel”). PCBC shall pay all fees and expenses of such Tax Counsel.
Sample 1Sample 2
AutoNDA by SimpleDocs
Maximum Amount of Payments. Section 19(d) of the 1992 Agreement provides for a limit on the amounts of payments made by any suburban school district to the Columbus School District, which are referred to as “Cap Amount(s).” These Cap Amount(s) are the following: for fiscal 1995 and 1996 - $500,000; for fiscal 1997 and 1998 - $600,000; for fiscal 1999 and 2000 - $700,000; for fiscal 2001 and 2002 - $800,000; for fiscal 2003 and 2004 - $900,000. For fiscal years after 2004, the Cap Amount is $900,000, plus an inflationary factor that is based upon the Consumer Price Index.
Sample 1
Maximum Amount of Payments. Not later than 90 days after the date of Final Completion, Quadrant shall submit to Optiva an itemized, detailed statement of actually incurred Project Costs. If requested by Optiva, such submittal shall include the General Contractor's actual job cost report, including individual entries, payroll reports, timecards and copies of invoices. Such submittal may include such other information that reasonably bears on the determination of Project Costs. If the positive difference, if any, between (i) the total amounts paid to Quadrant as the Building Value at Closing under the Purchase Agreement and as Progress Payments under this Agreement, and (ii) all Project Costs, exceeds $1.4 million, Owner shall have no further obligation to pay Progress Payments or the final payment of Building Value, and Quadrant shall pay Owner the amount of any such difference in cash within ten business days after the submittal of such statement.
Sample 1
Maximum Amount of Payments. The Company hereby acknowledges and agrees that, notwithstanding any of provision of this Agreement, the aggregate amount of all Payments required to be made by the Foundation under this Agreement together with all amounts paid by the Foundation to the Company under the Research Agreement shall not exceed $6,700,000, unless mutually agreed by the Parties in writing.
Sample 1

Related to Maximum Amount of Payments

  • Amount of Payments For purposes of this Agreement, a “Tax Benefit Payment” with respect to any Member means an amount, not less than zero, equal to the sum of: (i) the Net Tax Benefit that is Attributable to such Member and (ii) the Actual Interest Amount.

  • Amount of Payment The “Early Termination Payment” payable to a Member pursuant to Section 4.3(a) shall equal the present value, discounted at the Agreed Rate and determined as of the Early Termination Reference Date, of all Tax Benefit Payments (other than any Tax Benefit Payments in respect of Taxable Years ending prior to the Early Termination Effective Date) that would be required to be paid by the Corporation to such Member, beginning from the Early Termination Effective Date and using the Valuation Assumptions. For the avoidance of doubt, an Early Termination Payment shall be made to each Member in accordance with this Agreement, regardless of whether such Member has Exchanged all of its Units as of the Early Termination Effective Date.

  • Maximum Amount In consideration of the services to be performed by Contractor, the State agrees to pay Contractor, in accordance with the payment provisions specified in Attachment B, a sum not to exceed $250,000.00.

  • Maximum Advances In the case of any type of Advance requested to be made, after giving effect thereto, the aggregate amount of such type of Advance shall not exceed the maximum amount of such type of Advance permitted under this Agreement. Each request for an Advance by any Borrower hereunder shall constitute a representation and warranty by each Borrower as of the date of such Advance that the conditions contained in this subsection shall have been satisfied.

  • Minimum Amount of Each Borrowing; Maximum Number of Borrowings The aggregate principal amount of each Borrowing of Loans shall be in a multiple of $100,000 and shall not be less than the Minimum Borrowing Amount. More than one Borrowing may occur on any date; provided that at no time shall there be outstanding more than four (4) Borrowings of LIBOR Loans under this Agreement.

  • Minimum Amount of Each Advance Each Eurodollar Advance shall be in the minimum amount of $5,000,000 and in multiples of $1,000,000 if in excess thereof. Floating Rate Advances may be in any amount.

  • Maximum Amount Payable The maximum amount payable under this contract without modification is shown in Attachment E, Fee Schedule. Payment under this contract beyond the end of the current fiscal biennium is subject to availability of appropriated funds. If funds are not appropriated, this contract shall be terminated immediately with no liability to either party.

  • Minimum Amount of Each Borrowing The aggregate principal amount of each Borrowing of Loans shall not be less than the Minimum Borrowing Amount. More than one Borrowing may occur on the same date, but at no time shall there be outstanding more than 15 Borrowings of Euro Rate Loans.

  • Minimum Amounts (A) in the case of an assignment of the entire remaining amount of the assigning Lender’s Commitment and the Loans at the time owing to it or in the case of an assignment to a Lender, an Affiliate of a Lender or an Approved Fund, no minimum amount need be assigned; and (B) in any case not described in subsection (b)(i)(A) of this Section, the aggregate amount of the Commitment (which for this purpose includes Loans outstanding thereunder) or, if the Commitment is not then in effect, the principal outstanding balance of the Loans of the assigning Lender subject to each such assignment, determined as of the date the Assignment and Assumption with respect to such assignment is delivered to the Administrative Agent or, if “Trade Date” is specified in the Assignment and Assumption, as of the Trade Date, shall not be less than $5,000,000 unless each of the Administrative Agent and, so long as no Event of Default has occurred and is continuing, the Borrower otherwise consents (each such consent not to be unreasonably withheld or delayed); provided, however, that concurrent assignments to members of an Assignee Group and concurrent assignments from members of an Assignee Group to a single Eligible Assignee (or to an Eligible Assignee and members of its Assignee Group) will be treated as a single assignment for purposes of determining whether such minimum amount has been met.

  • Minimum Amounts and Maximum Number of Eurodollar Tranches Notwithstanding anything to the contrary in this Agreement, all borrowings, conversions, continuations and optional prepayments of Eurodollar Loans hereunder and all selections of Interest Periods hereunder shall be in such amounts and be made pursuant to such elections so that, (a) after giving effect thereto, the aggregate principal amount of the Eurodollar Loans comprising each Eurodollar Tranche shall be equal to $5,000,000 or a whole multiple of $1,000,000 in excess thereof and (b) no more than ten Eurodollar Tranches shall be outstanding at any one time.

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