Payment Schedule The purchase price for timber sold under this contract shall be paid in advance as follows: The first payment shall be paid within 30 days of the notification of high bid or before operating, whichever occurs first. The first payment shall be 10 percent of the total estimated bid value. The total estimated bid value shall be the sum obtained by multiplying the estimated timber volumes by the prices given in Section 44 less the amount of the project work. Cash bid deposits shall be applied to the initial payment. Subsequent payments shall be made in advance of timber removal when log hauling begins. Each payment shall be made before the value of timber removed equals one-half an advance payment or within the time period stated on the billing if PURCHASER is more than one-half of a payment in advance. The amount of each advance payment shall be calculated by dividing the total estimated bid value less the initial payment by 9; with the total estimated bid value being the sum obtained by multiplying the estimated timber volumes by the prices given in Section 44 less the amount of the project work. STATE may accept partial payment, upon written request, if logging is inactive. However, the full amount of advance payment is paid before logging resumes. Partial payment must be sufficient to maintain a payment deposit equal to one-half of a regular advance payment. The total purchase price shall be calculated after all log scale is reported by multiplying prices in Section 44 by the scaled volume. STATE shall refund any advance payment in excess of the total price, or PURCHASER shall pay any deficit within 30 days of notice. PURCHASER's deposit account shall not accrue interest payable to PURCHASER.
FEES AND PAYMENT SCHEDULE The fees and payment schedule for furnishing services under this Contract shall be based on the rate schedule which is attached hereto as Exhibit B and by this reference incorporated herein. Said fees shall remain in effect for the entire term of the Contract. Contractor shall provide County with his/her/its Federal Tax I.D. number prior to submitting the first invoice.
Prompt Payment Schedule Except as otherwise provided by law or regulation or in Sections 504.4 and 504.5 of this Exhibit, the Date of Payment by NYSERDA of an amount properly due and owing under this Agreement shall be no later than thirty (30) calendar days, excluding legal holidays, after Receipt of a Proper Invoice.
Compensation Schedule Except as otherwise provided herein, employees shall be compensated within the pay range assigned to the classification of the position in which they are employed and in accordance with the pertinent conditions of employment enumerated in this Agreement. Sec. 503 REGULAR PAY DAY: Employees shall be paid on or about the Friday following the end of the biweekly payroll period.
No Changes Except as contemplated by this Agreement, since the date of the Interim Balance Sheet, there has not been, occurred or arisen any: (a) transaction by the Company except in the ordinary course of business as conducted on the date of the Interim Balance Sheet and consistent with past practices; (b) amendments or changes to the Articles of Incorporation or Bylaws of the Company; (c) expenditure or commitment by the Company in excess of $10,000 individually or $50,000 in the aggregate; (d) destruction of, damage to or loss of any material assets, business or customer of the Company (whether or not covered by insurance), including the Property; (e) change in accounting methods or practices (including any change in depreciation or amortization policies or rates) by the Company; (f) revaluation by the Company of any of its assets, including the Property; (g) declaration, setting aside or payment of a dividend or other distribution with respect to the capital stock of the Company; (h) material change in any compensation arrangement or agreement with any employee, officer, director or stockholder; (i) acquisition, sale, lease, license or other disposition of any of the assets of the Company, or any creation of any security interest in such assets or properties, including the Property; (j) amendment or termination of any material contract, agreement, permit, approval or license to which the Company is a party or by which it is bound, including any purchase and sale agreements for lots in the Project; (k) loan by the Company to any Person, incurring by the Company of any indebtedness, guaranteeing by the Company of any indebtedness, issuance or sale of any debt securities of the Company or guaranteeing by the Company of any debt securities of others; (l) waiver or release of any right or claim of the Company, including any write-off or other compromise of any account receivable of the Company; (m) commencement or notice or threat of commencement of any lawsuit or judicial or administrative proceeding against or investigation of the Company or its affairs, including the Project; (n) any event or condition of any character that has or could be reasonably expected to have a material adverse impact on the Company; (o) any agreement, contract, lease or commitment or any extension or modification of the terms of any agreement, contract, lease or commitment which (i) involves the payment of greater than $25,000 per annum, (ii) extends for more than one (1) year, (iii) involves any payment or obligation to any affiliate of the Company other than in the ordinary course of business as conducted on that date and consistent with past practices, or (iv) involves the sale of, lease of or transfer of any interest in any material assets; (p) hiring of, or offer of employment to, any employees (or if an offer was accepted people that would become employees); or (q) negotiation or agreement by the Company or any officer or employees thereof to do any of the things described in the preceding clauses (a) through (p) (other than negotiations with Monaco or Buyer and their representatives regarding the transactions contemplated by this Agreement).
Vacation Schedules Employees shall submit their vacation requests to the supervisor on or before: (a) December 11th for the period January 1st through April 30th; and (b) April 1st for the period May 1st through December 31st. An employee who does not exercise his/her seniority rights by the cut-off dates stipulated above, shall not be entitled to exercise those rights in respect to any vacation time previously selected by an employee with less seniority. Vacation schedules, once approved by the Employer, shall not be changed, other than in cases of emergency, except by mutual agreement between the employee and the Employer.
Repayment Schedule The Semiannual Loan Payment shall be computed based upon the principal amount of the Loan plus the estimated Loan Service Fee and the principle of level debt service. The Semiannual Loan Payment amount may be adjusted, by amendment of this Agreement, based upon revised information. After the final disbursement of Loan proceeds, the Semiannual Loan Payment shall be based upon the actual Project costs, the actual Loan Service Fee and Loan Service Fee capitalized interest, if any, and actual dates and amounts of disbursements, taking into consideration any previous payments. Actual Project costs shall be established after the Department's inspection of the completed Project and associated records. The Department will deduct the Loan Service Fee and any associated interest from the first available repayments following the final amendment. Each Semiannual Loan Payment shall be in the amount of $82,812 until the payment amount is adjusted by amendment. The interest and Grant Allocation Assessment portions of each Semiannual Loan Payment shall be computed, using their respective rates, on the unpaid balance of the principal amount of the Loan, which includes Capitalized Interest. Interest (at the Financing Rate) also shall be computed on the estimated Loan Service Fee. The interest and Grant Allocation Assessment on the unpaid balance shall be computed as of the due date of each Semiannual Loan Payment. Semiannual Loan Payments shall be received by the Department beginning on March 15, 2019 and semiannually thereafter on September 15 and March 15 of each year until all amounts due hereunder have been fully paid. Funds transfer shall be made by electronic means. The Semiannual Loan Payment amount is based on the total amount owed of $3,312,465, which consists of the Loan principal and the estimated Loan Service Fee.
No Change Since December 31, 2012, there has been no development or event that has had or could reasonably be expected to have a Material Adverse Effect.
No Change of Control The Company shall use reasonable best efforts to obtain all necessary irrevocable waivers, adopt any required amendments and make all appropriate determinations so that the issuance of the Shares to the Purchasers will not trigger a “change of control” or other similar provision in any of the agreements to which the Company or any of its Subsidiaries is a party, including without limitation any employment, “change in control,” severance or other agreements and any benefit plan, which results in payments to the counterparty or the acceleration of vesting of benefits.
Shift Schedule The words "shift schedule" when used in this Agreement shall mean a timetable of the shifts and off days assigned to a position or group of positions which commences at the beginning of a pay period and includes one complete rotation of said shifts.