Payment of Backstop Payment Sample Clauses

Payment of Backstop Payment. (a) Subject to Section 3.1(c), the Backstop Payment shall be fully earned, nonrefundable and non-avoidable upon entry by the Bankruptcy Court of the Backstop Order, and shall be paid promptly by the Company to the Backstop Parties pursuant to Section 3.1(a) on the Closing Date (and with such prepayment mechanism as set forth in Section 2.4(c)(i)), if applicable, in the form of a Termination Payment (as defined below) at such times as are required by Section 9.2(b) hereof. For the avoidance of doubt, the Backstop Payment (i) will be nonrefundable and non-avoidable when paid (except as provided herein with respect to payments received by Defaulting Backstop Parties), (ii) will be payable as provided herein, irrespective of the amount of Unsubscribed Securities (if any) actually subscribed and purchased (for the avoidance of doubt, except in the case of a Backstop Party Default, in which case the applicable portion of the Backstop Payment shall be reallocated to Replacing Backstop Parties and / or Cover Purchasers in accordance with Section 3.1(c)) and (iii) will be paid prior to or simultaneously with Closing, which for the avoidance of doubt, shall occur prior to the conversion of any New Convertible Notes.
Sample 1
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Related to Payment of Backstop Payment

  • Payment Amount Payment for the Services shall be as follows: (choose one) ☐ - $______________________ for the Services (“Payment”). ☐ - At an hourly rate of $____ per hour (“Payment”). ☐ - Other. ______________________________________________ (“Payment”) If the Subcontractor asserts a claim which involves, in whole or in part, acts or omissions which are the responsibility of the Client or another person for whom a claim may be submitted, including but not limited to, claims for failure to pay, an extension of time, impacts, delay damages, or extra work, the Contractor shall present the Subcontractor's claim to the Client or other responsible party provided the Subcontractor presents to Contractor competent supporting evidence and in sufficient time for the Contractor to do so. The Subcontractor shall cooperate fully with the Contractor in any and all steps the Contractor takes in connection with prosecuting such a claim and shall hold harmless and reimburse the Contractor for all expenses, including legal expenses, incurred by the Contractor which arise out of the Contractor's submission of the Subcontractor's claims to the Client or other responsible party(ies). The Subcontractor shall be bound by any adjudication or award in any action or proceeding resolving such a claim.

  • Payment of Termination Payment The Defaulting Party shall make the Termination Payment within ten (10) Business Days after such notice is effective, regardless whether the Termination Payment calculation is disputed. If the Defaulting Party disputes the Non-Defaulting Party’s calculation of the Termination Payment, in whole or in part, the Defaulting Party shall within ten

  • Payment of Settlement Amount (1) Within thirty (30) days of the Date of Execution, the Settling Defendants shall pay the Settlement Amount to Siskinds LLP, for deposit into the Trust Account.

  • CONDITIONAL UPON PAYMENT 12.1 Where applicable, You agree that this Agreement is conditional upon Apollo being paid by the Travel Agent or Travel Wholesaler (Agent) who arranged this Agreement on Your behalf. You must pay Apollo any shortfall in the amount paid by You to the Agent and the amount that should have been paid to Apollo based on the applicable standard gross rental rate in respect of the Vehicle for the rental period.

  • E-PAYMENT Contractor agrees to accept all payments in United States currency via the State of Mississippi’s electronic payment and remittance vehicle. The agency agrees to make payment in accordance with Mississippi law on “Timely Payments for Purchases by Public Bodies,” which generally provides for payment of undisputed amounts by the agency within forty-five (45) days of receipt of invoice. Mississippi Code Annotated § 31-7-301 et seq.

  • Payment of Deposit The Buyer must pay the Deposit to the Developer. The Developer agrees to accept the payment of the Deposit in 2 instalments as follows:

  • Payment of Consideration The Consideration shall be paid to the Contributor in the following manner:

  • Entitlement to payment (i) An Employee shall be entitled to payment by the Employer for Ordinary Time Earnings lost through inclement weather for up to 32 hours in every four weeks. For the purpose of this sub-clause the following conditions shall apply:

  • Termination Payment The final payment delivered to the Certificateholders on the Termination Date pursuant to the procedures set forth in Section 9.01(b).

  • Payment of GST If GST is payable on any supply made by a Party (or any entity through which that Party acts) (Supplier) under or in connection with this Agreement, the recipient will pay to the Supplier an amount equal to the GST payable on the supply.

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