NETTING OF PAYMENT OBLIGATIONS Sample Clauses

NETTING OF PAYMENT OBLIGATIONS. The Company is making payments to Parent pursuant to Sections 1 and 2(c) hereof in an aggregate amount equal to $16,212,000 ($8,262,000 PLUS $7,950,000), and Parent is making payments to the Company pursuant to Sections 4(a) and 4(b) hereof in an aggregate amount equal to $337,500 ($250,000, PLUS $87,500). For the convenience of the parties and in full satisfaction of all of the payment obligations of the parties under such Sections, simultaneously with the execution and delivery of this letter the Company is paying Parent $15,874,500 ($16,212,000 LESS $337,500) by wire transfer of immediately available funds.
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NETTING OF PAYMENT OBLIGATIONS. If on any date, amounts would otherwise be payable in the same currency by the Client to the Bank, and by the Bank to the Client in respect of two or more FX Transactions, then, on such date, the Client’s obligation and the Bank’s obligation to make payments of any such amount will be automatically satisfied and discharged and, if applicable, replaced by an obligation upon the Party by which the larger amount would have been payable to pay to the other Party the excess of the larger amount over the smaller amount.
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NETTING OF PAYMENT OBLIGATIONS. Notwithstanding the foregoing, if amounts are due on the same day with respect to the amounts described in Section 5.3, the Parties shall satisfy their respective financial obligations to each other by netting the amounts due to OPC from MS against amounts due to MS from OPC hereunder, subject to the provisions of Section 8.2.
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NETTING OF PAYMENT OBLIGATIONS. The Parties shall satisfy their respective financial obligations to each other by netting the amounts due to OPC from Power Marketer against amounts due to Power Marketer from OPC hereunder, subject to the provisions of Section 7.2, and such netting shall be a condition to each Party's duty of payment hereunder.
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Related to NETTING OF PAYMENT OBLIGATIONS

  • Payment Obligations Absolute The Company’s obligation during and after the Employment Period to pay the Executive the amounts and to make the benefit and other arrangements provided herein shall be absolute and unconditional and shall not be affected by any circumstances, including, without limitation, any setoff, counterclaim, recoupment, defense or other right which the Company may have against him or anyone else. Except as provided in Section 15, all amounts payable by the Company hereunder shall be paid without notice or demand. Each and every payment made hereunder by the Company shall be final, and the Company will not seek to recover all or any part of such payment from the Executive, or from whomsoever may be entitled thereto, for any reason whatsoever.

  • Repayment Obligation In the event that any State and/or federal funds are deferred and/or disallowed as a result of any audits or expended in violation of the laws applicable to the expenditure of such funds, the Contractor shall be liable to the Agency for the full amount of any claim disallowed and for all related penalties incurred. The requirements of this paragraph shall apply to the Contractor as well as any subcontractors.

  • ADDITIONAL PAYMENT OBLIGATIONS 15. Tax gross-up and indemnities

  • The Companys Payment Obligation The Company’s obligation to make the payments and the arrangements provided for herein will be absolute and unconditional, and will not be affected by any circumstances, including, without limitation, any offset, counterclaim, recoupment, defense, or other right which the Company may have against the Executive or anyone else. All amounts payable by the Company hereunder will be paid without notice or demand. Each and every payment made hereunder by the Company will be final, and the Company will not seek to recover all or any part of such payment from the Executive or from whomsoever may be entitled thereto, for any reasons whatsoever. The Executive will not be obligated to seek other employment in mitigation of the amounts payable or arrangements made under any provision of this Agreement, and the obtaining of any such other employment will in no event effect any reduction of the Company’s obligations to make the payments and arrangements required to be made under this Agreement, except to the extent provided in Sections 3.3(e) and (f) herein. Notwithstanding anything in this Agreement to the contrary, if Severance Benefits are paid under this Agreement, no severance benefits under any program of the Company, other than benefits described in this Agreement, will be paid to the Executive.

  • Payment Obligation of Lenders Each Lender severally agrees to pay to the Agent on demand in immediately available funds in Dollars the amount of such Lender’s Commitment Percentage of each drawing paid by the Agent under each Letter of Credit to the extent such amount is not reimbursed by the Borrower pursuant to Section 2.3.(d); provided, however, that in respect of any drawing under any Letter of Credit, the maximum amount that any Lender shall be required to fund, whether as a Revolving Loan or as a participation, shall not exceed such Lender’s Commitment Percentage of such drawing. If the notice referenced in the second sentence of Section 2.3.(e) is received by a Lender not later than 11:00 a.m., then such Lender shall make such payment available to the Agent not later than 2:00 p.m. on the date of demand therefor; otherwise, such payment shall be made available to the Agent not later than 1:00 p.m. on the next succeeding Business Day. Each such Lender’s obligation to make such payments to the Agent under this subsection, and the Agent’s right to receive the same, shall be absolute, irrevocable and unconditional and shall not be affected in any way by any circumstance whatsoever, including without limitation, (i) the failure of any other Lender to make its payment under this subsection, (ii) the financial condition of the Borrower or any other Loan Party, (iii) the existence of any Default or Event of Default, including any Event of Default described in Section 11.1.(f) or 11.1.(g) or (iv) the termination of the Commitments. Each such payment to the Agent shall be made without any offset, abatement, withholding or deduction whatsoever.

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