Payment for Transition Services. In exchange for his performance of the transition services during the Transition Period, the Company will pay to Xx. XxXxxxxxxxx a lump sum cash payment of $34,231.77 within fifteen (15) days of the end of the Transition Period.
Payment for Transition Services. Buyer agrees to pay to XLSource, on the date of execution of this Second Amendment, $50,000 in full payment for all transitional services provided by Sellers, Shareholder and XLConnect to Buyer pursuant to the Transitional Services Agreement. Buyer shall pay such amount by check payable to XLSource or at the option of XLSource, XLSource may reduce the payment to Buyer pursuant to Section 1(i) of this Second Amendment by the amount of $50,000.
Payment for Transition Services. (a) As compensation for the Transition Services to be provided hereunder by CHSPSC, QHCCS agrees to pay CHSPSC the compensation set forth on Exhibit C. CHSPSC shall, on a monthly basis, submit to QHCCS for payment its billing invoice setting forth the amount of fees for the Transition Services actually rendered in the immediately preceding month (the “Monthly Transition Services Invoice”). Payments in respect of any Monthly Transition Services Invoice shall be made, without setoff or deduction, within thirty (30) days after the date of receipt thereof.
(b) No more than once annually and effective on January 1 during the Term, CHSPSC may increase the monthly fees charged pursuant to Exhibit C by an amount equal to the percentage increase in the Consumer Price Index for the Calculation Period immediately preceding the January 1 on which such change shall become effective; provided, however, that such increase shall not exceed three percent (3%) in any year. As used herein, “Consumer Price Index” shall refer to All Items of the United States Consumer Price Index, published by the United States Department of Labor, All Cities Average (1986=100). As used herein, the “Calculation Period” means the twelve month period beginning on July 1 and ending on June 30 of the year preceding the year for which the price increase shall become effective. Notice of any fee increase with respect to a Calculation Period must be received by QHCCS by September 15 immediately following the Calculation Period so that QHCCS may advise its Affiliates of the fee increase that will affect their budgets. For example, the monthly fees may be increased effective January 1, 2017 by an amount equal to the percentage increase in the Consumer Price Index for the Calculation Period beginning on July 1, 2015 and ending on June 30, 2016 if CHSPSC gives written notice of such increase to QHCCS by September 15, 2016 (subject to the 3% annual cap).
Payment for Transition Services. (a) Servicer shall provide each Transition Service in exchange for such fees as are stated or calculated by the respective pricing methodology indicated on the Annex for such Transition Service (“Fees”), which, with respect to Xxxxxxx Xxxxx, shall be consistent with historical practices as currently reflected in the MLIM Financial Statements and be based on the historical methodology for assessing charges for services provided by Servicer entities to the MLIM Business, and for BlackRock shall be reasonably comparable to the foregoing set forth with respect to Xxxxxxx Xxxxx. Notwithstanding the foregoing but subject to Section 1.01(b), if Servicer elects to subcontract any services in accordance with Section 2.02, amounts payable by Servicee hereunder shall not increase as a result thereof.
(b) Servicee shall reimburse Servicer for all reasonable and necessary out-of-pocket costs and expenses, to the extent (1) such costs and expenses are not otherwise included within the fee for any given Transition Service as specified in the Annex for such Transition Service (and were historically reimbursed consistent with Section 2.01(a)), (2) such costs and expenses are incurred by Servicer with respect to third parties in connection with the provision of Transition Services pursuant to this Agreement and (3) if any such costs and expenses for a particular service exceed the amount set forth on Schedule 2.01(b), such costs and expenses are approved by Servicee prior to Servicer’s incurrence thereof. Servicee’s obligation to reimburse Servicer shall include reimbursement for obligations incurred by Servicer (such as license or rental fees) in reliance on the term provided in the Annex with respect to any Transition Service for the entire term so provided whether or not Servicee has exercised its right under Section 3.03(a) to terminate such Transition Service early and continues to receive such Transition Service; provided, however, that Servicer shall be required to exercise commercially reasonable efforts to terminate or reduce such costs upon receipt of notice of termination of such Transition Service from Servicee.
(c) Servicer shall, on a monthly basis, submit to Servicee for payment its reasonably detailed billing invoice setting forth the amount of fees payable for the provision of Transition Services for the preceding month, calculated in accordance with the Annex for any given Transition Service (and such invoice shall include or be accompanied by mutually agr...
Payment for Transition Services. At no cost to XXXX, Buyer shall make available its employees for use by XXXX in performing the Transition Services, and to the extent any cost is incurred by XXXX (or any Sellers or third-parties) in providing its own employees or consultants to perform the Transition Services, including, without limitation, wages and benefits, Buyer shall fully reimburse XXXX (or the applicable Seller or third-party) for such costs; provided, however, that no costs shall be incurred by XXXX (or any Sellers or third-parties in accordance with Section 2(a)) in connection with the Transition Services without the prior consent of Buyer.
Payment for Transition Services. (a) In addition to any payment specific with respect thereto set forth on Exhibit A, Buyer shall reimburse Seller for its reasonable, documented out-of-pocket costs with respect to the provision of the Buyer Transition Services and any Additional Buyer Transition Services; provided, however, that Buyer shall not be required to reimburse Seller for any salary, wages or other similar costs of Seller’s employees or consultants or any overhead costs of Seller.
(b) In addition to any payment specific with respect thereto set forth on Exhibit B, Seller shall reimburse Buyer for its reasonable, documented out-of-pocket costs with respect to the provision of the Seller Transition Services; provided, however, that Seller shall not be required to reimburse Buyer for any salary, wages or other similar costs of Buyer’s employees or consultants or any overhead costs of Buyer.
Payment for Transition Services. Table of Contents (continued) Page
Payment for Transition Services. (a) With respect to each Transition Service, Seller shall be entitled to payment of the amount specified as consideration for such Transition Service on Schedule I. Purchaser shall be under no obligation to reimburse Seller for out-of-pocket and incidental costs and expenses (collectively, “Expenses”) incurred by Seller in connection with the performance of the Transition Services unless Seller has obtained the prior written consent of the Purchaser to such Expenses being incurred. To the extent only that such Expenses have been duly approved, Purchaser shall reimburse Seller within fifteen (15) days of receipt of an invoice from Seller for such Expenses, accompanied by such documentation as may reasonably be required to verify the amount of the Expenses. Purchaser’s obligation to pay for Transition Services already performed and duly approved and Expenses already incurred shall survive any termination of this Agreement.
(b) All payments by Purchaser to Seller under this Agreement shall be grossed-up to cover any sales tax, value-added tax, goods and services tax or similar tax (“Taxes”) due and payable with respect to the provision by Seller of the Transition Services for which Seller requests payment.
(c) Seller shall, on a monthly basis, submit to Purchaser for payment a billing invoice setting forth the applicable Transition Services provided during such period and the corresponding amounts owed for such Transition Services (including any Taxes applicable thereto). Payment of all such amounts owed shall be made in U.S. funds and remitted to Seller at the address shown on the billing invoice or, at the request of Seller, by wire transfer or automatic funds transfer to such account as Seller may designate from time to time. All amounts shall be paid within fifteen (15) days after the date in which Purchaser receives Seller’s invoice. Any amounts billed and properly payable in accordance with this Section 1.2 that are not paid within fifteen (15) days of receipt by Purchaser of such invoice shall bear interest at then current prime rate as reported in The Wall Street Journal plus two and one half percent (2.5%) per annum.
Payment for Transition Services. No payment for the transition services is required for the initial Time Period. For any extension of the Time Period required by Buyer, Buyer shall pay Seller Twenty Thousand Dollars ($20,000.00) for each 60-day extension Time Period.
Payment for Transition Services. 2.1 Subject to Section 1.2 and Article V, Medical shall pay Autocam a fee of $62,500.00 per month for the Transition Services, payable in arrears within thirty (30) days after the end of each month (the “Transition Service Fee”, as may be reduced pursuant to Section 5.3) during the Transition Period and for any month for which Medical exercises its option to extend. For the avoidance of doubt, the Transition Service Fee shall compensate Autocam for paying all salary, benefits, income tax, social security taxes, unemployment compensation, workers’ compensation and other employment-related expenses incurred with respect to employees or contractors of Autocam used to provide the Transition Services.
