Optional Methods of Payment Sample Clauses

Optional Methods of Payment. Optional methods of payment may be elected in accordance with the provisions of Section 4.04, subject to the limitations contained in Section 4.05.
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Optional Methods of Payment. If one of the optional methods of payment, whether automatic or selected by Lauex, xx applicable to the benefit payable to Lauex, xxs beneficiary, or his Contingent Annuitant under the Salaried Plan, then payment of any special retirement benefit under the Special Plan will be made in accordance with such option, subject, however, to the approval of the Compensation and Organization Committee of the Board of Directors of Oglebay. The amount of the special retirement benefit payable to Lauex, xxs beneficiary, or his Contingent Annuitant shall be reduced to reflect any such optional method of payment. In making the determination and reductions provided for in this Section 3, Oglebay may rely upon calculations made by the independent actuaries for the Salaried Plan, who shall apply the factors then in use for such purpose in connection with the Salaried Plan.
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Optional Methods of Payment. (1) An Employee may elect, with spouse consent, if applicable, one of the following options with respect to the pension payable to him following his retirement. Either of these options may be elected only by a notice in writing on a form provided by the Pension Committee, and to be made to such Committee during the "election period" (which shall mean the period beginning 90 days prior to the date upon which benefits are to commence, and ending on that date). Any election by an Employee under this Article III may be revoked and a new election made at any time during the election period. Death of either the Employee, or his designated Beneficiary or designated Contingent Annuitant as the case may be, prior to the employee's normal retirement date shall nullify any option previously elected. Death at any time of either the Employee, or his designated Beneficiary or designated Contingent Annuitant as the case may be after the Employee's Normal Retirement Date shall not nullify any option previously elected. Provided, however, that with respect to an Employee who retires pursuant to Article II, Paragraph 2 (a), death of Contingent Annuitant on or after the first day of the month following the later of his retirement and his attainment of 62 years of age shall not nullify any option previously selected. The monthly pension payable to an Employee who had elected an optional form of pension, shall, effective with the month following that in which his or her Normal Retirement Date occurs, be payable for a term certain period ending with the month in which the fifth anniversary of such Normal Retirement Date occurs, if living, otherwise to the designated Beneficiary or to the designated Contingent Annuitant, as the case may be. The monthly amount of pension for such term certain period shall, for a Normal Pension, be computed in accordance with the provisions of Paragraph (1) of Article II, and for any Early Pension or Disability Pension, be the amount that would become payable for the month following that in which the retired former Employee's Normal Retirement Date occurs. Effective with the month following the last month of such term certain period, the monthly amount of pension and the conditions with respect to its payment will be subject to the appropriate provisions of the options, which are, with respect to:
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Related to Optional Methods of Payment

  • Methods of Payment Distributions from the Director's Deferral Accounts shall be paid in cash in a single sum unless the Participant elects, at the time a Payment Date is selected pursuant to paragraph 4.1(a) or 4.1(b), to receive the amount payable in generally equal quarterly installments over a period not to exceed ten (10) years. In addition, at least one year before the Payment Date, a Director may change the method of payment previously selected.

  • Time and Method of Payment Except as otherwise provided in Section 4.02, all amounts payable to any Funding Agent or Investor hereunder or with respect to the Series 2020-1 Class A-1 Advance Notes shall be made to the Administrative Agent for the benefit of the applicable Person, by wire transfer of immediately available funds in Dollars not later than 1:00 p.m. (New York City time) on the date due. The Administrative Agent will promptly, and in any event by 5:00 p.m. (New York City time) on the same Business Day as its receipt or deemed receipt of the same, distribute to the applicable Funding Agent for the benefit of the applicable Person, or upon the order of the applicable Funding Agent for the benefit of the applicable Person, its pro rata share (or other applicable share as provided herein) of such payment by wire transfer in like funds as received. Except as otherwise provided in Section 2.07 and Section 4.02, all amounts payable to the Swingline Lender or the L/C Provider hereunder or with respect to the Swingline Loans and L/C Obligations shall be made to or upon the order of the Swingline Lender or the L/C Provider, respectively, by wire transfer of immediately available funds in Dollars not later than 1:00 p.m. (New York City time) on the date due. Any funds received after that time will be deemed to have been received on the next Business Day. The Issuer’s obligations hereunder in respect of any amounts payable to any Investor shall be discharged to the extent funds are disbursed by the Issuer to the Administrative Agent as provided herein or by the Trustee or Paying Agent in accordance with Section 4.02 whether or not such funds are properly applied by the Administrative Agent or by the Trustee or Paying Agent. The Administrative Agent’s obligations hereunder in respect of any amounts payable to any Investor shall be discharged to the extent funds are disbursed by the Administrative Agent to the applicable Funding Agent as provided herein whether or not such funds are properly applied by such Funding Agent.

  • RATES OF PAYMENT B3.1 Current Contract Rates. Included Timber that is removed by Purchaser and presented for Scaling in the product form stated in A2 shall be paid for at Current Contract Rates determined under this Section. “Current Contract Rates” shall be (a) Flat Rates and (b) Tentative Rates adjusted by the escalation procedures in B3.

  • Basis of Payment The basis of payment is identified in Attachment E, Fee Schedule. Reimbursement of costs incurred under a work authorization shall be in accordance with Attachment E, Fee Schedule.

  • Method of Payments Any amount due under this Guarantee shall be paid: (a) in immediately available funds; (b) to such account as the Security Trustee may from time to time notify to the Guarantor; (c) without any form of set-off, cross-claim or condition; and (d) free and clear of any tax deduction except a tax deduction which the Guarantor is required by law to make.

  • Payment Methods A. Except as otherwise provided by this Contract, the payment method will be one or more of the following:

  • Purchase Price and Method of Payment 4.1 The Total purchase price of the property shall be the amount stated in paragraph E1 of the Information Schedule regardless of the final extent of the property as reflected on the site diagram attached marked “Annexure A”. 4.2 The Purchaser shall pay the Seller’s attorneys the deposit for the property as stated in paragraph E2 of the Information Schedule on signature of this agreement by the Purchaser, which deposit shall be held in trust by the Seller’s attorneys and invested in an interest bearing account in accordance with the provisions of Section 26 of the Alienation of Land Act No 68 of 1981 (as amended) with interest to accrue to the Purchaser. The provisions of this clause 4.2 shall constitute authority to the Conveyancers, in terms of Section 78(2A) of the Attorneys Act, to invest the deposit for the benefit of Purchaser pending registration of transfer. 4.3 The Seller will not be bound to the Purchaser in terms of this agreement until such time as the deposit referred to in paragraph E2 has been paid to the Sellers attorneys trust account referred to in paragraph 4.2 above. The Seller shall be entitled to accept further offers acceptable to the Seller, until such time that written confirmation is given to the Seller or his attorneys by the Purchaser confirming the payment of the deposit as provided for in this clause 4.3 In the event of the Seller accepting an offer to purchase the property on terms and conditions acceptable to the Seller prior to receipt of such written notification, this agreement shall be deemed ipso facto null and void. 4.4 Within 21 (twenty one) days after signature of this agreement, the Purchaser shall furnish the Seller with an irrevocable guarantee issued by a registered commercial bank for the due payment of the balance of the purchase price of the property as referred to in clause E4 of the Information Schedule, or in the event of the Purchaser requiring a mortgage bond for purposes of acquiring the property in the amount recorded in clause E3 of the Information Schedule, within 21 (twenty one) days of securing a mortgage bond as provided for in clause 16.1 hereunder. 4.5 Or alternatively to the delivery of the guarantee referred to in clause 4.4 above, the Purchaser shall within the same time periods as provided for in the aforesaid clause, pay into the trust account of the attorneys, the balance of the purchase price of the property as referred to in clause E4 of the Information Schedule, to be held by such attorneys in an interest bearing trust account, interest to accrue for the benefit of the Purchaser until the date upon which payment of the relevant amount falls due to the Seller. The Purchaser hereby irrevocably authorises the attorneys to release from the funds so received, the payments due to the Seller in terms of the provisions of this agreement. 4.6 The Seller, at its sole discretion may elect to extend the periods as mentioned in clause 4.4 and/or 4.5 above. 4.7 All amounts payable by the Purchaser in terms of this agreement shall be paid to the Seller’s attorneys free of bank charges or commission at Cape Town and without deduction or set off by means of a bank guaranteed cheque or a cheque drawn by a registered South African commercial bank. 4.8 The Total Purchase Price of the property as recorded in clause E1 of the Information Schedule shall be paid to the Seller on date of registration of transfer.

  • Payment Methodology The Contractor shall be compensated based on the Service Rates in Attachment for units of service authorized by the Institution in a total amount not to exceed the Contract Maximum Liability established in Section C. 1. The Contractor’s compensation shall be contingent upon the satisfactory completion of units of service or project milestones identified in Attachment B. The Contractor shall submit invoices, in form and substance acceptable to the Institution with all of the necessary supporting documentation, prior to any payment. Such invoices shall be submitted for completed units of service or project milestones for the amount stipulated.

  • Method of Payment Subject to Section 8.01(c), distributions required to be made to Certificateholders on any Payment Date as provided in Section 5.01 shall be made to each Certificateholder of record on the preceding Record Date by wire transfer, in immediately available funds, to the account of such Holder at a bank or other entity having appropriate facilities therefor, if such Certificateholder shall have provided to the Certificate Registrar appropriate written instructions at least five Business Days prior to such Payment Date or, if not, by check mailed to such Certificateholder at the address of such Holder appearing in the Certificate Register.

  • Terms of Payment 16.1 The Supplier shall request for payment by submitting invoice(s), delivery note(s) and any other relevant documents as specified in the SCC to the Procuring Entity. 16.2 Payments shall be made promptly by the Procuring Entity, but not later than thirty (30) days after submission of an invoice by the Supplier, and after the Procuring Entity has accepted it.

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