PAYMENT FOR COVENANT Sample Clauses

PAYMENT FOR COVENANT. In consideration for the Covenant, and -------------------- subject to the occurrence of the Transition Time, Company will pay to Xxxxxx Two Million Nine Hundred Seven Thousand Six Hundred Sixty-Five Dollars ($2,907,665) ("NONCOMPETITION PAYMENT") within ten (10) business days following the Transition Time; provided, however, that if the Transition Time occurs prior to December 1, 1997, the Noncompetition Payment shall be increased by Two Thousand Seven Hundred Thirty-Five Dollars ($2,735) for each such day prior to December 1, 1997, and if the Transition Time occurs after December 1, 1997, the Noncompetition Payment shall be decreased by Two Thousand Seven Hundred Thirty-Five Dollars ($2,735) for each such day after December 1, 1997; and provided further that any obligation of Company to make payments to Xxxxxx will be subject to Paragraph 6 below.
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Related to PAYMENT FOR COVENANT

  • Director Covenants Director agrees that for a period of two (2) years from the Effective Time, Director shall not, directly or indirectly, individually or as an employee, partner, officer, director, promoter or shareholder or in any other capacity whatsoever, except in the performance of customary legal, accounting, insurance, or investment or investment management services as performed at the time of execution of the Agreement or of a similar nature:

  • Guarantor Covenants Each Guarantor shall take such action as the Borrower is required by this Agreement to cause such Guarantor to take, and shall refrain from taking such action as the Borrower is required by this Agreement to prohibit such Guarantor from taking.

  • Covenant to Pay The Chargor must pay or discharge the Secured Liabilities in the manner provided for in the Finance Documents.

  • Vendor’s Covenants The Vendor will have performed and complied with all agreements, covenants and conditions as required by this Agreement.

  • Particular Covenants 5.01 Payments of Principal, Premium, if any, and Interest, if any. The Company covenants and agrees for the benefit of each series of Securities that it will duly and punctually pay or cause to be paid the principal of, premium, if any, and interest, if any, on the Securities of that series at the times and places and in the manner provided herein and in the Securities of that series.

  • Conditions to Legal or Covenant Defeasance In order to exercise either Legal Defeasance or Covenant Defeasance under either Section 8.02 or 8.03 hereof:

  • Pledgor’s Covenants The Pledgor represents, covenants and warrants that unless compliance is waived by the Bank in writing:

  • Seller Covenants Seller covenants and agrees as follows:

  • Purchaser Covenants Purchaser shall have performed and complied in all material respects with all agreements and covenants required to be performed and complied with by Purchaser under this Agreement at or prior to the Closing Date; and

  • Other Covenants (Section 5.1): Borrower shall at all times comply with all of the following additional covenants:

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