No Negative Payments Sample Clauses

The No Negative Payments clause ensures that under no circumstances will a party be required to make a payment that results in a negative amount owed. In practice, this means that if calculations for fees, royalties, or other financial obligations would otherwise result in a party owing less than zero, the payment is simply set to zero and no refund or credit is provided. This clause prevents situations where one party would have to pay the other due to overpayments or negative balances, thereby simplifying accounting and eliminating the risk of unintended financial reversals.
POPULAR SAMPLE Copied 2 times
No Negative Payments. If the amount calculated under any of clauses (i) through (v) above is negative, the payment under such clause shall be zero and the Companies shall have no obligation to refund to the Purchaser the amount of such negative calculation expressed as a positive number.
View Source
No Negative Payments. In the event that the calculation of FAP, SAP, TAP, FOAP, FIAP or LAP, as the case may be, results in an amount which is less than zero, such Purchase Price component shall be deemed to be zero.
View SourceView Similar (4)
No Negative Payments. In the event that the calculation of the Top-Up Payment results in an amount that is less than zero, the amount of the Top-Up Payment shall be deemed to be zero.
View Source
No Negative Payments. Notwithstanding the potential reduction of Adjusted GAAP PBT as set forth in Sections 2.1.1(e) through (h) above, in the event that the calculation of FAP, SAP, TAP, FOAP or FIAP, as the case may be, results in an amount which is less than zero, such Purchase Price component shall be deemed to be zero.
View Source
No Negative Payments. If the amount calculated under Section 2.4.1 or 2.4.3 -------------------- ------- ----- is negative, the payment under such Section shall be zero and the Stockholders shall have no obligation to refund to CenterPoint the amount of such negative calculation expressed as a positive number and such negative number will not be carried forward into subsequent periods.
View Source

Related to No Negative Payments

  • No Duplicative Payments It is intended that the provisions of this Agreement will not result in duplicative payment of any amount (including interest) required under this Agreement. The provisions of this Agreement shall be construed in the appropriate manner to ensure such intentions are realized.

  • No Duplicative Payment The Company shall not be liable under this Agreement to make any payment of amounts otherwise indemnifiable hereunder if and to the extent that Indemnitee has otherwise actually received such payment under any insurance policy, contract, agreement or otherwise.

  • Protective Payments If Borrower fails to obtain the insurance called for by Section 6.5 or fails to pay any premium thereon or fails to pay any other amount which Borrower is obligated to pay under this Agreement or any other Loan Document, Bank may obtain such insurance or make such payment, and all amounts so paid by Bank are Bank Expenses and immediately due and payable, bearing interest at the then highest rate applicable to the Obligations, and secured by the Collateral. Bank will make reasonable efforts to provide Borrower with notice of Bank obtaining such insurance at the time it is obtained or within a reasonable time thereafter. No payments by Bank are deemed an agreement to make similar payments in the future or Bank’s waiver of any Event of Default.

  • Note Payments The Company agrees that, so long as any Purchaser shall hold any Note, it will make payments of principal of, interest on, and any Yield-Maintenance Amount payable with respect to, such Note, which comply with the terms of this Agreement, by wire transfer of immediately available funds for credit (not later than 12:00 noon, New York City local time, on the date due) to (i) the account or accounts of such Purchaser specified in the Purchaser Schedule attached hereto in the case of any Series A Note, (ii) the account or accounts of such Purchaser specified in the Confirmation of Acceptance with respect to such Note in the case of any Shelf Note or (iii) such other account or accounts in the United States as such Purchaser may from time to time designate in writing, notwithstanding any contrary provision herein or in any Note with respect to the place of payment. Each Purchaser agrees that, before disposing of any Note, it will make a notation thereon (or on a schedule attached thereto) of all principal payments previously made thereon and of the date to which interest thereon has been paid. The Company agrees to afford the benefits of this paragraph 11A to any Transferee which shall have made the same agreement as the Purchasers have made in this paragraph 11A.

  • Advance Payments The Employer agrees to issue advance payments of estimated net salary for vacation periods of two (2) or more complete weeks, providing a written request for such advance payment is received from the employee at least six (6) weeks prior to the last pay before the employee’s vacation period commences, and providing the employee has been authorized to proceed on vacation leave for the period concerned. Pay in advance of going on vacation shall be made prior to departure. Any overpayment in respect of such pay advances shall be an immediate first charge against any subsequent pay entitlement and shall be recovered in full prior to any further payment of salary.