Payment Acceleration. Notwithstanding anything herein to the contrary, any Shares subject to this Election shall be immediately distributed to you or your estate, as applicable, upon your death or Disability (as defined in the Award Agreement) or upon a “change in the ownership or effective control” of the Company or in the “ownership of a substantial portion of the assets” of the Company within the meanings ascribed to such terms in Treasury Department regulations or other guidance issued under Section 409A of the Code.
Payment Acceleration. In the event of Company’s failure to pay any amount owed by the Company to the Bank, the Bank shall have the right to accelerate all amounts owed by the Company, and all accelerated amounts shall carry the maximum interest rate until the full payment by the Company. In addition, the Company shall pay the Bank liquidated damages in an amount equal to the greater of (i) the Bank’s early payment fee at the time of the acceleration, or (ii) the amount permitted by law to charge as early payment fees. Moreover, the Bank shall have the right to realize the collateral as permitted by law and demand the Company to pay any outstanding debt and reimburse the Bank against expenses.
Payment Acceleration. At the election of the Company, upon approval by the Buyer, the Company may accelerate the dates of repurchase set forth above without penalty. Closing Date, Subject to the provisions of Sections 5 and 6, the Closing Date shall be June 29, 2007, at the offices the Buyer, said date herein referred to as the “Closing Date.”
Payment Acceleration. At the election of the Company, upon approval by the Buyer, the Company may accelerate the dates of repurchase set forth above without penalty.
Payment Acceleration. Payment of the Award hereunder shall accelerate if the Grantee’s employment with the Company and its Subsidiaries and Affiliates is terminated due to: (i) retirement on or after his sixty-fifth birthday; (ii) retirement on or after his fifty-fifth birthday with consent of the Company; (iii) retirement at any age on account of total and permanent disability as determined by the Company; or (iv) death. If payment is accelerated, payment of the Award shall be made on a pro rata basis based on ROIC performance to date and based on net sales in the four most recently completed fiscal quarters, as calculated pursuant to the RSA Award Agreement.
Payment Acceleration. In addition to the options provided in Article 5.1, the Participant shall have the right at anytime to request and receive a payment of all or part of the Participant's account balance. Such payments will be made as soon as practicable after such election is made, but in no event will payments be delayed more than 60 days from the date the election is made. If such election is made, any amount subject to this election shall be reduced by a nonrefundable payment acceleration penalty equal to 10% of the elected amounts. This penalty is absolute and not be rescinded, reduced, or otherwise modified by the Employer.
Payment Acceleration. 1) Upon obtaining the first party's consent, the second party shall be entitled to accelerate payment of all or any part of the Murabaha before the due date.
2) If the second party accelerates payment of all or any part of the Murabaha debt, the paid amounts shall be deducted from the Murabaha, and the first party at its option may return part of the due profit to the second party.
Payment Acceleration. Payment of the Award hereunder shall accelerate if the Grantee’s employment with the Company and its Subsidiaries and Affiliates is terminated due to: (i) retirement on or after his sixty-fifth birthday; (ii) retirement on or after his fifty-fifth birthday with consent of the Company; (iii) retirement at any age on account of total and permanent disability as determined by the Company; or (iv) death. If payment is accelerated, payment of the Award shall be made on a pro rata basis, based on the Target Amount calculated through the most recently completed month in which such termination occurs, and multiplying such Target Amount by a fraction, the numerator of which shall be the total number of days the Grantee was employed during the performance period and the denominator of which shall be three hundred sixty-five (365).
Payment Acceleration. At any time throughout the duration of this Trust, if the Borrower shall be deemed to be in default in accordance with and pursuant to the terms and conditions of this Trust, then it shall be the obligation of the Lender, at that time, to ensure that the Borrower is provided with written notice regarding the default. The contents of the written notice must stipulate and identify: i) the details related to the default (i.e. the breach); ii) action or steps deemed necessary to correct or rectify the default, if any such action or steps are permissible (i.e. cure the breach); iii) the date, of not less than TEN days from the date that written notice is provided, in which the default must be rectified; and iv) if the default is not cleared or cured on or before the date specified within the written notice said default shall result in the expediting of all sums due and payable in full, principal amount, interest and any other amount which may be secured by this Trust. Once the default has been rectified or cured, the Trust shall be reinstated in full force and effect. However, should the Borrower fail to rectify or cure the default, the Lender has the option to invoke the STATUTORY POWER OF SALE and initiate foreclosure proceedings. The Lender shall reserve the right to demand immediate payment in full in the event of a default, without limitations. Upon default, any delaying of the enforcement of the terms of this Trust, on the part of the Lender, which may include, but shall not be limited to, the acceptance of any late payment from the Borrower or a third party, and/or acceptance of any payment that is less than the amount due at the time, shall not constitute a waiver to enforce acceleration on default.
Payment Acceleration. Diversified will pay the remaining $150,000 due pursuant to the Acquisition Agreement and delayed by Addendum One, on a schedule accelerated above and beyond the requirements set forth in the Renewable Email as follow:
a. Fifty Thousand Dollars ($50,000) payable upon execution of Addendum Two by each of Renewable and Xxxxx;
b. Fifty Thousand Dollars ($50,000) payable Thirty (30) Days after the execution of Addendum Two; and,
c. Fifty Thousand Dollars ($50,000) payable Sixty (60) Days after execution of Addendum Two.
