Pay Out. The pay-out of monies to the Client shall be made in accordance with the Applicable Regulations, however the Broker Member and the Client may agree from time to time on the provision of periodical margins to address operational and practical constraints.
Pay Out. An employee who quits or retires will be paid for all accrued but unused compensatory time at the employee’s rate of pay at the time of leaving. The spouse, beneficiary, or executor of the estate, whichever is applicable, shall receive any payment due in the event of the death of an employee.
Pay Out. At the commencement of the leave, the Employer shall pay to the participant the monies standing to the employee's credit less any premiums or contributions deducted for the year, except as may otherwise be mutually agreed, it being understood that interest is not earned in the year of leave.
Pay Out. Upon separation by for any reason, the employee shall be paid for any accumulation of accrued compensatory time.
Pay Out. Employees who opt for time off shall only have time off unless the EMPLOYER opts to pay out time in their bank in excess of 48 hours.
Pay Out. 6.5.1 Teachers shall have the option of receiving a payout for their unused entitlement. The value of the payout shall be the amount of substitute teacher pay then in effect multiplied by the number of days of the unused entitlement.
6.5.2 Teachers choosing to access payouts must notify the Superintendent of Finance no later than:
6.5.2.1 December 1st for payment in the December pay period.
6.5.2.2 June 1st for payment in the June pay period.
Pay Out. A. In connection with the foregoing and as of the Effective Time, Company shall cause a payment in an amount equal to the total amount set forth on Schedule 2 hereto (the “Pay-Out Amount”) representing all amounts owing in connection with the Pay-Out Obligations as of 4:00 p.m. (New York City time) on April 9, 2010, including any and all amounts of principal, interest to date, fees, penalties, if any, costs of counsel and indemnity amounts (all as set forth in detail on Schedule 2 hereto) (but, for the avoidance of doubt, excluding any Unasserted Obligations, including possible breakage costs which may be invoiced at a later date (the “Excluded Breakage Costs”) and expense reimbursement and contingent indemnity obligations which by the terms of the Existing Credit Agreement or any other Loan Document expressly survive), to Administrative Agent.
B. Company hereby authorizes and directs Administrative Agent (and Administrative Agent hereby agrees), to apply proceeds of New Term Loans held by Administrative Agent at the Effective Time to pay the Pay-Out Obligations.
C. The Pay-Out Amount has been calculated assuming payment on April 9, 2010 (the “Pay-Out Date”). If the Pay-Out Amount is not paid to Administrative Agent as provided above by 4:00 p.m. (New York City time) on the Pay-Out Date, the Pay-Out Amount shall be recalculated to reflect changes thereto, including additional interest in the amount of $22,294.74 per day for each day after the Pay-Out Date.
D. New Lenders hereby irrevocably waive any right they may have under the Existing Credit Agreement, Restated Credit Agreement or any other Loan Document to receive any portion of the proceeds of the Pay-Out.
E. Company and each of the other Loan Parties hereby acknowledge and agree that the obligations and liabilities of the Loan Parties under the Existing Credit Agreement and other Loan Documents shall be reinstated with full force and effect if, at any time on or after the Pay-Out Date, all or any portion of the Pay-Out Amount paid to Administrative Agent or any Existing Lender is voided or rescinded or must otherwise be returned by Administrative Agent or any Existing Lender to Company or any other Loan Party upon Company’s or any other Loan Party’s insolvency, bankruptcy or reorganization or otherwise, all as though such payment had not been made; provided that each of the parties hereto hereby acknowledges and agrees that any such reinstatement shall not effect the validity of this Agreement, the A...
Pay Out. Each year, the City Manager may approve the payout of up to twenty
Pay Out. The Productivity Plan will be paid out quarterly in each fiscal year, but reconciled annually.
Pay Out. Except as otherwise provided in this Section 9, the ------- Purchase Price shall be paid in 40 equal consecutive quarterly installments beginning three months after the Date of Delivery, together with interest on the outstanding principal balance accruing from the Date of Delivery at the minimum annual rate then necessary to avoid the application of the imputed interest provisions of the Internal Revenue Code of 1986, as amended, or if no imputed interest provisions are applicable, at the rate of 8% per annum. This indebtedness shall be evidenced by a nonnegotiable promissory note, in the form of Exhibit D to this Agreement, which shall be duly executed by the purchaser and delivered to the Affected Owner (or his personal representative) or Testamentary Seller on the Date of Delivery.
