Payback Provisions Clause Samples

Payback provisions are contractual clauses that require one party to repay certain amounts under specified conditions. Typically, these provisions apply when an employee or contractor receives upfront payments, bonuses, or benefits, and must return them if they leave the company early or fail to meet agreed-upon obligations. The core function of payback provisions is to protect the paying party from financial loss by ensuring that incentives or advances are only retained if the recipient fulfills their commitments.
Payback Provisions. When trainee engineers engaged after the commencement of this agreement gain their certification, an amount equivalent to four weeks’ Second Engineer salary per year will be deducted by the Employer from the engineer’s remuneration. By agreement between the Employer and the engineer, this value may be in the form of a reduction in salary or a reduction in leave. Such deduction shall occur for each of the first two years employment as a qualified engineer at the rate of four weeks’ per year.
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Payback Provisions. I understand that during the time I remain employed at Swedish Medical Center after my graduation from the Perioperative Nursing Certificate Program, my loan will be reduced at the following rate: Hours Scheduled Amount Loan I understand that if I fail to be available to perform the services for which I have been trained under the program, Swedish Medical Center shall be entitled to recover the full balance due and may withhold any funds or benefits I have accrued, i.e., termination pay, including accrued annual leave and/or final paycheck, to apply towards my unpaid debt. If there remains a loan balance due after application of the above-identified funds, any amount which Swedish Medical Center is entitled to recover shall be paid by me in monthly installments beginning thirty (30) days after the date of termination. The monthly installment payments shall be at the same rate as the payback provision schedule. I understand that interest on the balance due will begin upon termination of employment and the first installment will be due thirty (30) days from termination. I will be billed for the installment, together with interest at the same percentage that is currently being charged by the Swedish Medical Center Credit Union at the time of my termination. Failure to pay any installment when due will cause the entire loan balance to be accelerated and the entire loan balance will immediately become due and payable, no longer giving me the option to pay the loan off on a monthly basis.
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Payback Provisions. I understand that if I fail to undertake or perform such service in accordance with the provisions of this Student Service Agreement, fail to complete my approved Program of Study, OR dropout prior to program completion, the Tennessee Department of Education will be entitled to recover from me all or part of any traineeship or fellowship grant received, plus interest in accordance with the Promissory Note(s) of even date herewith and incorporated herein by reference. I understand that the amount of the award or scholarship that has not been retired through eligible service will constitute a debt to the Tennessee Department of Education that MUST be repaid by me. Repayment will include the full amount of the award plus interest, in an amount proportional to the service obligation completed. I understand that a scholar enters repayment status on the first day of the first calendar month after the earliest of the following dates, as applicable: a. The date the scholar informs the grantee institution that he/she does not plan to fulfill the service obligation as defined in the BASE-TN Guidelines. b. Any date when the scholar’s failure to begin or maintain employment makes it impossible for the individual to complete the service obligation within the number of years required to satisfy his/her obligations under the BASE-TN Program; or c. Any date on which the scholar discontinues enrollment as described in his/her approved Plan of Study.
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Payback Provisions. In the event Developer defaults on any Developer performance obligations, covenants or the performance schedule pursuant to this Agreement (subject to force majeure), and such default is not cured within 90 days of written notice thereof, then, in any such event, Developer shall immediately pay to City the amount of the Benefit..
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Payback Provisions. I understand that during the time I remain employed at SMC after completion of the initial Program, my loan will be reduced at the following rate: Hours Scheduled Amount Loan I understand that if I fail to be available to perform the services for which I have been trained under the Program, SMC shall be entitled to recover the balance due and may withhold any funds or benefits I have accrued, i.e., termination pay, including accrued annual leave and/or final paycheck, to apply towards my unpaid debt. If there remains a loan balance due after application of the above-identified funds, any amount which SMC is entitled to recover shall be paid by me in monthly installments beginning thirty (30) days after the date of termination. The monthly installment payments shall be at the same rate as the payback provision schedule. I understand that interest on the balance due will begin upon termination of employment and the first installment will be due thirty (30) days from termination. I will be billed for the installment, together with interest at the same percentage that is currently being charged by the SMC Credit Union at the time of my termination. Failure to pay any installment when due will cause the entire loan balance to be accelerated and the entire loan balance will immediately become due and payable, no longer giving me the option to pay the loan off on a monthly basis.
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Payback Provisions. I understand that during the time I remain employed at Swedish Medical Center after my graduation from the Critical Care Course, my loan will be reduced at the following rate: Hours Scheduled Amount Loan
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Related to Payback Provisions

  • Clawback Provisions Notwithstanding any other provisions in this Agreement to the contrary, any incentive-based compensation, or any other compensation, paid to the Executive pursuant to this Agreement or any other agreement or arrangement with the Company which is subject to recovery under any law, government regulation or stock exchange listing requirement, will be subject to such deductions and clawback as may be required to be made pursuant to such law, government regulation or stock exchange listing requirement (or any policy adopted by the Company pursuant to any such law, government regulation or stock exchange listing requirement).

  • Clawback Provision Notwithstanding any other provisions in this Agreement to the contrary, in the event that the Company is required to prepare an accounting restatement due to the material noncompliance of the Company with any financial reporting requirement under the securities laws, to the extent required by such laws or government regulations, the Company shall recover from the Executive any such incentive-based compensation (if any) paid to the Executive pursuant to this Agreement during the three (3) year period preceding the date on which the Company is required to prepare the accounting restatement, based on the erroneous data, in excess of what would have been paid to the Executive under the accounting restatement.

  • Change in Control Provisions Notwithstanding anything to the contrary in these Terms and Conditions, the following provisions shall apply to all Stock Units granted under the attached Award Agreement.

  • Change of Control Provisions If a Change of Control Repurchase Event occurs, unless the Company has exercised its right to redeem the Debentures as described above, the Company will be required to make an offer to each holder of Debentures to repurchase all or any part (in integral multiples of $1,000) of that holder’s Debentures at a repurchase price in cash equal to 101% of the aggregate principal amount of Debentures repurchased plus any accrued and unpaid interest on the Debentures repurchased to, but not including, the date of repurchase. Within 30 days following a Change of Control Repurchase Event or, at the Company’s option, prior to a Change of Control, but after the public announcement of the Change of Control, the Company will mail a notice to each holder of Debentures, with a copy to the Trustee, describing the transaction or transactions that constitute or may constitute the Change of Control Repurchase Event and offering to repurchase Debentures on the payment date specified in the notice, which date will be no earlier than 30 days and no later than 60 days from the date such notice is mailed. The notice shall, if mailed prior to the date of consummation of the Change of Control, state that the offer to purchase is conditioned on a Change of Control Repurchase Event occurring on or prior to the payment date specified in the notice. The Company will comply with the requirements of Rule 14e-1 under the Exchange Act, and any other securities laws and regulations thereunder to the extent those laws and regulations are applicable in connection with the repurchase of the Debentures as a result of a Change of Control Repurchase Event. To the extent that the provisions of any securities laws or regulations conflict with the Change of Control Repurchase Event provisions of the Debentures, the Company will comply with the applicable securities laws and regulations and will not be deemed to have breached its obligations under the Change of Control Repurchase Event provisions of the Debentures by virtue of such conflict. Sinking Fund Provisions: No sinking fund provisions Defeasance Provisions: Legal defeasance and covenant defeasance permitted upon compliance with conditions set forth in the Indenture Additional Terms: Except as otherwise provided in this Schedule II, such other terms are specified in the Pricing Prospectus. Capitalized terms used herein and not defined herein have the meanings specified in the Pricing Prospectus. Time of Sale:

  • Penalty Provisions Failure to comply with the regulatory requirements is a violation of state law that may result in penalties up to ten thousand dollars ($10,000.00 USD) for strict liability violations, for each day in which the violation occurs. (Cal. Code Regs., tit. 13, § 2299.2; Cal. Code Regs., tit. 17, § 93118.2; Health & Saf. Code §§ 39674, 39675, 42400 et seq., 42402 et seq., and 42410.)