Payment for Leakage Sample Clauses

Payment for Leakage. If any breach of Clause 4.1 occurs (other than in respect of the Agreed Leakage Amount): (a) each Seller shall be liable to pay to the Purchaser on demand an amount in cash equal to the amount of such Leakage attributable to that Seller’s (or its Seller Group’s) breach; or (b) if the breach is not specific to any particular Seller or its Seller Group, then the Sellers shall pay (in aggregate) to the Purchaser an amount in cash equal to the amount of such Leakage (the “Aggregate Leakage”) (provided that each Seller shall be liable to pay only an amount equal to their Pro Rata Portion of the Aggregate Leakage).
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Payment for Leakage. If any breach of Clause 5.1 occurs, the Seller shall pay to the Purchaser an amount in cash equal to (i) the amount of such Leakage, net of the amount of any Tax saving available to any member of the Group as a result of such Leakage, and net of any amount in respect of VAT actually recovered in respect of such Leakage (such amounts to be agreed between the Seller and the Purchaser) in each case in the accounting period (or other relevant period by reference to which the relevant Tax is accounted for) in which the Leakage occurred, or in the subsequent accounting period or relevant Tax period; and (ii) any reasonable costs incurred by the Purchaser, the Group or the relevant Group Company in connection with the recovery of such Leakage.
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Payment for Leakage. If any Leakage occurs and is notified under Clause 11.2 (Notification of Leakage) or otherwise comes to the attention of the Purchaser during the period from (but excluding) the Locked Box Date up to (and including) the Completion Date, and the Seller agrees that such Leakage in such Leakage Amount has occurred then, to the extent not previously remedied pursuant to Clause 5.3, the Seller shall, no later than ten (10) Business Days after receipt of such written notification, pay to the Purchaser (or any Target Company, if applicable) on a Euro for Euro basis an amount in cash equal to the amount of such Leakage, net of any Tax deduction available to and utilised by the Purchaser, the Target or any Target Company in respect of such Leakage and any amount in respect of VAT which is recoverable as input tax by a member of the Relevant Party’s Group in respect of such Leakage.
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Payment for Leakage. If any breach of Clause 10.1 occurs, and to the extent that an amount equal to such Leakage is not included within the Agreed Leakage Amount, the Seller shall pay to the Purchaser on demand in USD an amount in cash equal to the amount of such Leakage (as determined pursuant to Clause 10.4) plus the applicable Leakage Daily Payment Amount within 10 Business Days from the date of demand (unless deducted under Clause 3.1.5).
Sample 1
Payment for Leakage. (a) If any Leakage occurs the Seller who receives or benefits from (or whose Institutional Seller’s Group, in the case of an Institutional Seller, or whose Connected Persons, in the case of a Management Seller, receives or benefits from) the Leakage shall on demand by the Purchaser pay to the Purchaser an amount in cash in SEK equal to: (i) the amount of such Leakage; (ii) all reasonable costs and expenses (including, without limitation, damages, legal and other professional fees and costs, penalties and expenses) incurred by the Purchaser as a result of such Leakage; and (iii) any amount necessary to ensure that after any Tax on a payment made in accordance with sub-clauses (i) or (ii) above, the Purchaser is left with the same amount it would have had if the payment was not subject to Tax, save that, for the avoidance of doubt, any amount already taken into account in the calculation of any Agreed Leakage Amount or Leakage Set-off Amount and taken into account in the determination of the Consideration pursuant to Clause 11.3 shall not be recoverable under this Clause 11.4 after Completion. (b) In respect of any Leakage that is not received or benefitted from by one or more Sellers (or by any member of an Institutional Seller’s Group or any Connected Person of a Management Seller), each Seller shall be deemed to have received or benefitted from its Pro Rata Portion of such Leakage and each Seller shall on demand by the Purchaser pay to the Purchaser its Pro Rata Portion of the aggregate amount to be paid to the Purchaser pursuant to Clause 11.4(a) in respect of such Leakage For the purposes of this Clause 11.4(a), “Pro Rata Portion”, shall mean in relation to any Seller, that Seller’s pro rata portion based on the proportion that the Consideration receivable by such Seller pursuant to this Agreement bears to the aggregate amount of Consideration receivable by all Sellers pursuant to this Agreement.
Sample 1
Payment for Leakage. If any Leakage occurs, the Seller shall pay to the Buyer, or if so designated by the Buyer, to a Subsidiary Undertaking or a Parent Undertaking of the Buyer, an amount in cash equal, on a Euro-for-Euro basis to the amount of such Leakage, save that, for the avoidance of doubt, any amount already taken into account in the calculation of any Agreed Leakage Amount that has in turn been taken into account in the determination of the Closing Payment pursuant to Clause 4.3 shall not be recoverable under this Clause 4.4 after Closing.
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Related to Payment for Leakage

  • Payment for leave (a) Payment will be made based on the Employee’s ordinary pay for the ordinary hours the Employee would have worked on the day or days on which the leave was taken. (b) An Employee utilising personal leave may take leave for part of a single day. Leave will be deducted from the Employee’s accrued personal leave including, where relevant, for a part day.

  • Payment for Overtime 1. Except as provided in 2.C.3., below, overtime shall be compensated at one and one-half (1 1/2) times the regular rate. 2. Except as provided in 2.C.3., below, for all regular, limited-term and probationary employees, overtime may be converted to compensatory time or paid for at the option of the agency/department. Consideration shall be given to effectuating the wishes of employees. The maximum number of CTO hours which may be accrued by any employee is eighty (80). If an employee accrues 80 hours of CTO, he/she cannot accrue additional CTO until he/she uses some of the hours in his/her bank; instead, employees will be paid for all overtime work performed in excess of that amount. 3. Overtime hours worked by extra help employees shall be paid. 4. Compensatory time earned and accrued by an employee in excess of thirty-two (32) hours may be scheduled off for an employee by his or her agency/department; however, consideration shall be given to effectuating the wishes of those employees requesting specific compensatory time off periods. 5. No scheduled compensatory time off will be cancelled except in cases of emergency. 6. In no case may an employee's work schedule be changed during the workweek when the purpose of such change is to avoid overtime compensation. 7. Time worked as overtime shall not be used to earn fringe benefits or to serve out probation or merit increase periods. Compensatory time off may be used as part of the established workweek to earn fringe benefits and to serve out probationary and merit increase periods. 8. An employee separating from the County service shall be paid for accumulated compensatory time in a lump sum payment.

  • Payment for TIPS Sales TIPS Members may make payments for TIPS Sales directly to Vendor, Vendor’s Authorized Reseller, or as otherwise agreed to in the applicable Supplemental Agreement after receipt of the invoice and in compliance with applicable payment statutes. Regardless of how payment is issued or received for a TIPS Sale, Vendor is responsible for all reporting and TIPS Administration Fee payment requirements as stated herein.

  • PAYMENT FOR WORK The H-GAC Customer is responsible for making payment to the Contractor upon delivery and acceptance of the goods or completion of the services and submission of the subsequent invoice.

  • Payment for Unused Sick Leave (a) An employee with less than ten (10) years of FIU service who separates from FIU shall not be paid for any unused sick leave. (b) An employee who has completed ten (10) or more years of FIU service, has not been found guilty or has not admitted to being guilty of committing, aiding, or abetting any embezzlement, theft, or bribery in connection with State government, or has not been found guilty by a court of competent jurisdiction of having violated any State law against or prohibiting strikes by public employees, and separates from FIU because of retirement for other than disability reasons, termination, or death, shall be compensated at the employee's current regular hourly rate of pay for one-eighth of all unused sick leave accrued prior to October 1, 1973, plus one- fourth of all unused sick leave accrued on or after October 1, 1973; provided that one-fourth of the unused sick leave since 1973 does not exceed 480 hours. The compensation in this paragraph 8(4)(b) shall not be given to an employee who starts employment at FIU on or after July 1, 2006. (c) Upon layoff, an employee with ten (10) or more years of FIU service shall be paid for unused sick leave as described in paragraph b., above, unless the employee requests in writing that unused sick leave be retained pending re-employment. For an employee who is re-employed by the University within twelve (12) calendar months following layoff, all unused sick leave shall be restored to the employee, provided the employee requests such action in writing and repays the full amount of any lump sum leave payments received at the time of layoff. An employee who is not re- employed within twelve (12) calendar months following layoff shall be paid for sick leave in accordance with this Policy. (d) All payments for unused sick leave shall be made in lump sum and shall not be used in determining the average final compensation of an employee in any State administered retirement system. An employee shall not be carried on the payroll beyond the last official day of employment, except that an employee who is unable to perform duties because of a disability may be continued on the payroll until all sick leave is exhausted. (e) If an employee has received a lump sum payment for accrued sick leave, the employee may elect in writing, upon re-employment within 100 days, to restore the employee's accrued sick leave. Restoration will be effective upon the repayment of the full lump sum leave payment. (f) In the event of the death of an employee, payment for unused sick leave at the time of death shall be made to the employee's beneficiary, estate, or as provided by law.

  • Payment for annual leave (a) Before going on annual leave, an employee will be paid the amount of wages they would have received for ordinary time worked had they not been on leave during that period. (b) At the election of the employee such payments may be paid in accordance with the usual pay day relevant to the period of leave being taken.

  • Contract Amount and Payment for Services The total amount of this Contract shall not exceed $436,091.00, as provided for in Attachment B – Budget.

  • Payment for Working Overtime on a Holiday Where an employee is required to work authorized overtime in excess of his regularly scheduled hours on a paid holiday, such employee shall receive twice (2x) his regular straight time hourly rate for such authorized overtime.

  • Payment for Working Overtime (a) For all work done outside ordinary hours, the rates of pay will be time and a half for the first two hours and double time thereafter. (b) Except as provided in clause 8.4, in computing overtime each day’s work will stand alone. (c) To avoid doubt, overtime provisions for shift workers are contained in clause 10.7.

  • REIMBURSEMENT FOR MILEAGE AND INSURANCE 1. An employee who is required by their employer to use their private vehicle for school district related purposes shall receive reimbursement of: Effective July 1, 2019 $ 0.56 c/Km Effective July 1, 2020 $ 0.57 c/Km Effective July 1, 2021 $ 0.58 c/Km 2. The mileage reimbursement rate established in Article B.10.1 shall be increased by 5 cents/kilometer for travel that is approved and required on unpaved roads. 3. The employer shall reimburse an employee who is required to use their personal vehicle for school district purposes, the difference in premium costs between ICBC rate Class 002 (Pleasure to/from Work) and ICBC rate Class 007 (Business Class) where the employee is required to purchase additional insurance in order to comply with ICBC regulations respecting the use of one’s personal vehicle for business purposes.

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