Payment Deferral. (a) Notwithstanding anything to the contrary provided herein, to the extent that, at the time any TRA Payment becomes due and payable hereunder, (i) the Company is not permitted, pursuant to the terms of its outstanding Indebtedness to make such TRA Payment, or if, after making such TRA Payment, the Company would be in breach or default under the terms of its outstanding Indebtedness, or (ii) (1) the Company does not have the cash on hand to make such TRA Payment and is not permitted to borrow cash to fund such TRA Payment under the terms of its outstanding Indebtedness, and (2) the Company is not able to obtain cash from its Subsidiaries to fund such TRA Payment because (A) the applicable Subsidiary is not permitted, pursuant to the terms of its outstanding Indebtedness, to pay dividends, make loans or otherwise make payments to the Company to allow it to make such TRA Payment, or if, after making such TRA Payment, the applicable Subsidiary would be in breach or default under the terms of its outstanding Indebtedness, (B) the applicable Subsidiary is not permitted, pursuant to applicable law, to pay dividends, make loans or otherwise make payments to the Company to allow it to make such TRA Payment, or (C) the applicable Subsidiary does not have the cash on hand to make the payment or dividend described in clauses (A) or (B) above and is not permitted to borrow cash to fund such payment under the terms of its outstanding Indebtedness, then, in each case, the Company shall, by delivering a Deferral Attestation to the Transfer Agent along with a copy of the Accountant Attestation for such TRA Payment, by the date such TRA Payment becomes due and payable hereunder (assuming for purposes of determining such date that the Announcement Date with respect to such TRA Payment is the thirtieth (30th) day after the Company Tax Return Due Date With Extensions for the applicable Subject Taxable Year), be permitted to defer such TRA Payment until the condition described in clauses (i) or (ii) above is no longer applicable.
Payment Deferral. (a) Notwithstanding anything to the contrary provided herein, to the extent that, at the time any TRA Payment becomes due and payable hereunder, (i) the Corporate Taxpayer Group is not permitted, pursuant to the terms of any outstanding or committed indebtedness for borrowed money to make such TRA Payment, or if, after making such TRA Payment, the Corporate Taxpayer Group would be in breach or default under the terms of any such indebtedness, or (ii) (A) the Corporate Taxpayer does not have the cash on hand to make such TRA Payment, and (B) the Corporate Taxpayer is not able to obtain cash from the Corporate Taxpayer Group to fund such TRA Payment because (1) the Corporate Taxpayer Group is not permitted, pursuant to the terms of any such indebtedness, to make tax distributions or similar payments to the Corporate Taxpayer to allow it to make such TRA Payment, or if, after making such TRA Payment, the Corporate Taxpayer Group would be in breach or default under the terms of any such indebtedness or (2) the applicable member of the Corporate Taxpayer Group does not have the cash on hand to make the payment described in clause (1) above, then, in each case, upon prior notice to the Holders’ Representative, the Corporate Taxpayer shall be permitted to defer such TRA Payment until the condition described in clauses (i) or (ii) above is no longer applicable.
Payment Deferral. Notwithstanding anything contained herein to the contrary, in the event the Term II Advance is made under this Agreement within ten days prior to the date upon which the first regularly scheduled payment of principal and interest on the Term II Advance (“First Monthly Payment”) would otherwise have been due as specified in Section 2.1(c), then Borrower shall make the first regularly scheduled monthly payment of principal and interest on the same day of the calendar month immediately following the date on which the Term II Advance is made, and the Term II Maturity Date shall be extended for a period that is equal to the time difference between the regularly scheduled date of the First Monthly Payment as specified in Section 2.1(c) and the date on which the First Monthly Payment is actually due as a result of the application of this Section.
Payment Deferral. If a resident cannot pay the entire balance of the semester’s housing costs at the payment deadline installment plans are available via WU-View. Options are available for plans with three or four installments with more information about each available on WU-View or on the Business Office website. Late fee: A late installment fee of $25 will be assessed to the resident’s account for each delinquent installment payment. The late installment fee applies only to residents enrolled in an installment plan. Residents with unpaid balances may have a hold placed on future transactions or enrollment with the University.
Payment Deferral. Notwithstanding any other provision of this Agreement to the contrary, Edgen shall not be required to make any Tax Benefit Payment if and to the extent the restrictions under the Senior Obligations prohibit the direct or indirect subsidiaries of Edgen from making a distribution or dividend sufficient to provide Edgen with the funds to make such payment. Any payments otherwise owed hereunder which are not made due to the immediately preceding sentence shall not be cancelled but rather accrue and bear interest at the Agreed Rate, and shall be payable by Edgen promptly when, and to the extent, that the restrictions under the Senior Obligations no longer prohibit the direct or indirect subsidiaries of Edgen from making a distribution or dividend sufficient to provide Edgen with the funds to make such payment. The term “Senior Obligations” shall mean the obligations existing under the Credit Agreement, dated as of August 19, 2010, by and among B&L Supply, [Xxxxxxxx & Xxxxxxxx Holdings LLC / Partnership]3, the Guarantors party thereto, the Lenders party thereto, Regions Bank, RBS Business Capital and Jefferies Finance LLC; the Credit Agreement, dated as of May 11, 2007, by and among EMC, Edgen Xxxxxx Canada, Inc. and Edgen Xxxxxx Europe Limited, the other Loan Parties party thereto, the Lenders party thereto, JPMorgan Chase Bank, N.A., JPMorgan Chase Bank N.A., Toronto Branch and X.X. Xxxxxx Europe Limited, as amended from time to time; and the Indenture, dated December 23, 2009, among EMC, [XX XX LP / Partnership]4, the other Guarantors as defined therein and The Bank of New York Mellon Trust Company, National Association, each as in effect as of the date hereof or as subsequently amended but only to the extent such subsequent amendment increases the ability of subsidiaries to pay dividends and distributions to Edgen.
Payment Deferral. As an alternate performance guarantee, no payment shall be made for any part of this contract until the entire contract is completed to the satisfaction of the Township. o Workmanship Guarantee – Contract Retention The Contractor shall guarantee all labor and materials for the period of April through October from the date of acceptance of the work by the Township, and he shall make all needed repairs on the work as it progresses and during this guarantee period, except those due to ordinary wear and tear. The Contractor agrees that, during the said guarantee the Township may retain, out of monies payable to him under this agreement, the sum of ten (10%) percent of the amount of the contract; and that, should he fail to make the necessary repair at once after due notice from the Administrator or Engineer, the Township may expend the same or so much thereof as may be required to make the needed repairs; provided, however, that in case of emergency, where in the opinion of the Administrator or the Engineer it would cause serious loss or damage, the Township may make repairs without previous notice and at the expense of the Contractor. Township, the Contract may provide a Maintenance Bond equal to ten (l0%) percent of the contract value in a form approved by the Township Attorney. If an alternate guarantee provision is contained in the Detailed Specifications, then this alternate guarantee provision shall prevail.
Payment Deferral. Notwithstanding anything contained herein to the contrary, in the event the Growth Capital Term Loan is made under this Agreement within ten days prior to the date upon which the first regularly scheduled payment of interest on the Growth Capital Term Loan (“First Monthly Payment”) would otherwise have been due as specified in Section 2.1(b), then Borrower shall make the first regularly scheduled monthly payment of interest on the tenth day of the calendar month immediately following the month in which the Growth Capital Term Loan is made and shall make the first regularly scheduled monthly payment of principal and interest on the tenth day of the first month following the first anniversary of the Closing Date, and the Growth Capital Term Loan Maturity Date shall be extended to the tenth day of the month following the scheduled Growth Capital Term Loan Maturity Date.
Payment Deferral. In respect of reimbursable patent costs (pursuant to Section 4.3), and milestone payments owed further to Section 5.5, (but only for such patent costs directly reimbursable by Avro and such milestones which have been achieved by Avro, and not by any acquirer or Sublicensee who achieves such milestone or is responsible for any such patent cost reimbursement), payment shall remain due as indicated in the *** Confidential Treatment Requested *** aforementioned section(s), but the Parties agree that any amount due and payable that exceeds [***] percent ([***]%) of the total amounts (i.e. gross total) of any investment raise(s) and financing(s) (e.g. any of seed financing, Series A Financing, Series B Financing or other series of financing) up to such date for which the relevant milestone and/or patent costs are due shall be deferred to the next investment raise/financing. As such, any outstanding amounts shall become payable upon the next investment raise, again subject to [***] percent ([***]%) cap of the total amount (i.e. gross total) of such investment raise/financing until such time as all unpaid amounts are paid in full. All unpaid amounts will collect interest as further set out in Section 4.8. All unpaid and deferred amounts owed pursuant to this Section 5.7 will become immediately payable upon the earlier to occur of: (a) closing of a merger or acquisition of Avro, (b) sale of substantially all of Avro’s assets (including this Agreement) relating to the Licensed Products to a non-Affiliated Third Party during the term of this Agreement, (c) Avro granting an exclusive sublicense under the Licensed Technology to a Third Party for purposes of commercializing Licensed Products, or (d) upon an initial public offering (IPO) of Avro shares.
Payment Deferral. Notwithstanding anything contained herein to the contrary, in the event the Term Loan II Advance is made under this Agreement after the date upon which the first regularly scheduled payment of principal and interest on the Term Loan II Advance (“First Monthly Payment”) would otherwise have been due as specified in Section 1.13(c), or within ten days prior to such date, then Borrower shall make the first regularly scheduled monthly payment of principal and interest on the same day of the calendar month immediately following the date on which the Term Loan H Advance is made, and the Term Loan II Maturity Date shall be extended for a period that is equal to the time difference between the regularly scheduled date of the First Monthly Payment as specified in Section 13(e) and the date on which the First Monthly Payment is actually due as a result of the application of this Section.
Payment Deferral. With the prior written consent of Lumina, any shares earned and payable hereunder may be deferred by the Executive.
