Payment of Compensation Amounts Sample Clauses

Payment of Compensation Amounts and the transfer provisions in Section 15.6 (Transfer of the Complex to the GOP following Termination). If the GOP has not elected to purchase the Complex within ninety (90) Days following the Termination Date, the GOP shall have no further rights or interest in, or obligations to, the Complex.
Sample 1Sample 2Sample 3See All (8)
AutoNDA by SimpleDocs
Payment of Compensation Amounts. (a) As soon as reasonably practicable and in any event no later than sixty (60) Days after the Termination Date (or other event contemplated in this Agreement making the GOP liable to pay Compensation Amounts to the Seller), the Seller shall submit an invoice to the GOP setting out the amounts payable by GOP, if any, to the Seller pursuant to Section 15.1 (Compensation upon Termination) (the “Termination Invoice”). The Termination Invoice shall be accompanied by a certification of a reputable international accountancy firm operating in Pakistan, agreed upon by the Parties or appointed by the President of the Institute of Chartered Accountants of Pakistan pursuant to Section 16.2 (Determination by Expert), experienced in the methods of valuation of utility assets, verifying the calculation of all of the elements listed in the Termination Invoice in reasonable detail, which calculation shall be used in the preparation of the Termination Invoice. (b) In the case of an early termination of this Agreement, the GOP shall pay to the Seller the amount shown in the Termination Invoice (less any amounts the GOP or the Purchaser is owed by the Seller under this Agreement or under the Energy Purchase Agreement) no later than one hundred and eighty (180) Days following the date of delivery of the Termination Invoice to the GOP (the “Payment Date”). (c) Payments of amounts due and payable in respect of any Termination Invoice not made by the GOP by the date specified in Section 15.5(b) shall bear interest at a rate per annum equal to the Delayed Payment Rate. (d) If any Tax is imposed on or withheld from payments to be made by the GOP to the Seller under this Article XV (
Sample 1Sample 2Sample 3See All (6)
Payment of Compensation Amounts. 14.9.1 As soon as reasonably practicable and in any event no later than thirty (30) Days after the Termination Date, the Concessionaire shall submit an invoice to the MED (on behalf of the Government) setting out the amounts payable by the Government ("Termination Invoice"), if any, to the Concessionaire under this Clause 14. The Termination Invoice shall be accompanied by a certification of a reputable international accountancy firm, agreed upon by the Parties or otherwise appointed by the President of the Institute of Chartered Accountants for England and Wales, experienced in the methods of valuation of utility assets, verifying the calculation of all of the elements listed in the Termination Invoice, which calculation shall be used in the preparation of the Termination Invoice. 14.9.2 The Government shall pay to the Concessionaire the amount shown in the Termination Invoice [redacted information] no later than thirty (30) Days following receipt thereof. On the date that such payment is made by the Government, the Land Use Agreement shall terminate and the Transferable Assets shall be transferred to the Government ("Transfer Date") in accordance with Clause 14.10. 14.9.3 Payments of amounts due and payable in respect of any Termination Invoice not made by the Government by the date specified in Clause 14.9.2 shall bear interest at a rate per annum equal to the Delayed Payment Rate. 14.9.4 If any Tax is imposed on or withheld from payments made by the Government to the Concessionaire under this Clause 14, then such payments to the Concessionaire shall be increased by an amount such that the Concessionaire will receive the same amount which it would in exchange for the Transferable Assets had no such Tax been imposed or withheld. 14.9.5 The Parties acknowledge and agree that it would be difficult or impossible to determine at the date of this Agreement with absolute precision the amount of damages that would or might be incurred by the Concessionaire or the Government as a result of the termination of this Agreement (and the Heat Purchaser or the Power Purchaser as a result of termination of the Power Purchase Agreement or the Heat Purchase Agreement). The Parties agree that the termination amounts provided under this Clause 14.9 and Error! Reference source not found. are the Parties’ reasonable and genuine pre-estimates for the actual damages and losses that may reasonably be anticipated from such termination and each Party waives to the fullest extent p...
Sample 1Sample 2
Payment of Compensation Amounts. As soon as reasonably practicable and in any event no later than sixty (60) days after the Termination Date, the Company shall submit an invoice (the “ Termination Invoice ”) to the GOP setting out the amounts payable by GOP, if any, to the Company pursuant to Section 15.1 (
Sample 1
Payment of Compensation Amounts. (a) As soon as reasonably practicable and in any event no later than sixty (60) days after the Termination Date, the Company shall submit an invoice (the “ Termination Invoice”) to the GOP setting out the amounts payable by GOP, if any, to the Company pursuant to Section 15.1. The Termination Invoice shall be accompanied by a certification of a reputable international accountancy firm, experienced in the methods of valuation of utility assets, verifying the calculation of all of the elements listed in the Termination Invoice, which calculation shall be used in the preparation of the Termination Invoice. (b) The GOP shall pay to the Company the amount shown in the Termination Invoice (less any amounts the GOP or the Power Purchaser is owed by the Company under this Agreement or under the Power Purchase Agreement) no later than the date (the “ Transfer Date”) that is not later than one hundred and eighty (180) days following the Termination Date. On the Transfer Date, such payment shall be made by the GOP and simultaneously the Transferable Assets shall be transferred to the GOP or its designee. (c) Payments of amounts due and payable in respect of any Termination Invoice not made by the GOP by the date specified in Section 15.5(b) shall bear interest at a rate per annum equal to the Delayed Payment Rate. (d) If any Tax is imposed on or withheld from payments to be made by the GOP to the Company under this Article XV in connection with a transfer to the GOP or its designee of the Transferable Assets, then such payments to the Company shall be increased by an amount such that the Company will receive the same amount which it would in exchange for the Transferable Assets had no such Tax been imposed or withheld. (e) The Parties acknowledge and agree that it would be difficult or impossible to determine at the date of this Agreement with absolute precision the amount of damages that would or might be incurred by the Company or the GOP as a result of the termination of this Agreement (and the Power Purchaser as a result of termination of the Power Purchase Agreement). The Parties agree that the Compensation Amounts payable by the GOP or its designee pursuant to and under this Article 15.5(b) and Schedule 2 are in lieu of actual damages and are the Parties’ reasonable and genuine estimates for the losses that may reasonably be anticipated from such termination, and do not constitute a penalty.
Sample 1
Payment of Compensation Amounts and the transfer provisions in Section 15.6 (Transfer of the Complex to the GOP following Termination). (vi) If, following Pakistan Political Event and following a revision of the Restoration Cost Estimate or the Restoration Period pursuant to Section 15.9(c) of the Energy Purchase Agreement, the Purchaser, with the approval of the GOP, elects to terminate the Energy Purchase Agreement under Section 15.9(c) thereof, the Seller shall transfer the Complex to the GOP or its designee and the GOP or its designee shall pay the Compensation Amount set forth in Row 12 of Part I of
Sample 1
AutoNDA by SimpleDocs
Payment of Compensation Amounts. If the Compensation Amount is a positive number, the Settlement Failure Party will pay it to the Determining Party; if it is a negative number, the Determining Party will pay the absolute value of the Compensation Amount to the Settlement Failure Party. Such amount shall be payable by the relevant Party on the day on which the notice given by the Determining Party in respect of such Compensation Amount is effective. The Compensation Amount is payable for the loss of bargain and the loss of protection against future risks, and, except as otherwise provided in this Agreement, neither Party will be entitled to recover any additional damages as a consequence of the occurrence of a Settlement Failure Authorized Participant undertakes that it shall comply with its obligations and undertakings under the Applicable Authorized Participant Agreement, and further undertakes that it shall not represent or suggest to any potential investors in or distributors of Commodity Contracts that either Counterparty or any of its Affiliates has [structured] Shares, or provided any advice or information in respect of Shares, or accepted any responsibility in respect of the Prospectus. Counterparty undertakes that it shall comply with its obligations and undertakings under the Facility Agreement and the Counterparty ISDA.
Sample 1
Payment of Compensation Amounts. If the Compensation Amount is a positive number, the Settlement Failure Party will pay it to the Determining Party; if it is a negative number, the Determining Party will pay the absolute value of the Compensation Amount to the Settlement Failure Party. Such amount shall be payable by the relevant Party on the day on which the notice given by the Determining Party in respect of such Compensation Amount is effective. The Compensation Amount is payable for the loss of bargain and the loss of protection against future risks, and, except as otherwise provided in this Agreement, neither Party will be entitled to recover any additional damages as a consequence of the occurrence of a Settlement Failure
Sample 1

Related to Payment of Compensation Amounts

  • Payment of Compensation Consultant shall submit to City a monthly itemized statement which indicates work completed and hours of Services rendered by Consultant. The statement shall describe the amount of Services and supplies provided since the initial commencement date, or since the start of the subsequent billing periods, as appropriate, through the date of the statement. City shall, within 30 days of receiving such statement, review the statement and pay all approved charges thereon.

  • Compensation & Payment 8.4.1. Should the claim be found proven; settlement is executed only in the form of compensation payment added to the Client trade account. 8.4.2. Compensation shall not compensate the profit not received by the Client in the event that the Client had an intention to perform some action but has not performed it for some reason. 8.4.3. The Company shall not compensate non-pecuniary damage to the Client. 8.4.4. The Company adds a compensation payment to the Client trading account within one working day since the moment of making a positive decision on the dispute situation.

  • Amount of Compensation City shall pay Contractor for performance of all Services rendered in accordance with this Contract in an amount not to exceed $3,000,000.

  • Final Compensation Final Compensation for an employee, who is employed by the State for the first time and becomes a member of CalPERS prior to January 15, 2011, is based on the highest average monthly pay rate during twelve (12) consecutive months of employment. Final Compensation for an employee, who is employed by the State for the first time and becomes a member of CalPERS on or after January 15, 2011, is based on the highest average monthly pay rate during thirty-six (36) consecutive months of employment.

  • Compensation; Payment of Fees and Expenses As compensation for the performance of the Administrator’s obligations under this Agreement, the Administrator shall be entitled to receive $2,500 annually, which shall be solely an obligation of the Servicer; provided, however, notwithstanding the foregoing, such compensation shall in no event exceed the Servicing Fee for the related annual period. The Administrator shall pay all expenses incurred by it in connection with its activities hereunder.

  • Servicer Compensation The Servicer shall withdraw its Servicing Fee for each Mortgage Loan net of any Month End Interest payable pursuant to Section 7.6.1 from the related Custodial P&I Account prior to the remittance of such amounts to the Certificate Account with all other payments received with respect to the Mortgage Loans.

  • Deferred Compensation Account The Employer shall maintain on its books and records a Deferred Compensation Account to record its liability for future payments of deferred compensation and interest thereon required to be paid to the Employee or his beneficiary pursuant to this Agreement. However, the Employer shall not be required to segregate or earmark any of its assets for the benefit of the Employee or his beneficiary. The amount reflected in said Deferred Compensation Account shall be available for the Employer's general corporate purposes and shall be available to the Employer's general creditors. The amount reflected in said Deferred Compensation Account shall not be subject in any manner to anticipation, alienation, sale, transfer, assignment, pledge, encumbrance, attachment or garnishment by creditors of the Employee or his beneficiary, and any attempt to anticipate, alienate, transfer, assign or attach the same shall be void. Neither the Employee nor his beneficiary may assert any right or claim against any specific assets of the Employer. The Employee or his beneficiary shall have only a contractual right against the Employer for the amount reflected in said Deferred Compensation Account and shall have the status of general unsecured creditors. Notwithstanding the foregoing, in order to pay amounts which may become due under this Agreement, the Employer may establish a grantor trust (hereinafter the "Trust") within the meaning of Section 671 of the Internal Revenue Code of 1986, as amended. The assets in such Trust shall at all times be subject to the claims of the general creditors of the Employer in the event of the Employer's bankruptcy or insolvency, and neither the Employee nor any beneficiary shall have any preferred claim or right, or any beneficial ownership interest in, any such assets of the Trust prior to the time such assets are paid to the Employee or beneficiary pursuant to this Agreement. The Employer shall credit to said Deferred Compensation Account the amount of any salary to which the Employee becomes entitled and which is deferred pursuant to Section 1 hereof, such amount to be credited as of the first business day of each month. The Employer shall also credit to said Deferred Compensation Account an Interest Equivalent in the amount and manner set forth in Section 3 hereof.

  • Termination Payments In the event of termination of the employment of Executive, all compensation and benefits set forth in this Agreement shall terminate except as specifically provided in this paragraph 4:

  • Payment Amounts The aggregate Payments to be made in a fiscal year shall not exceed an amount equal to the corresponding Appropriated Amount (for example, for the Payments due on December 1, 2026 and on June 1, 2027, the aggregate maximum amount of such Payments would be determined by the Appropriated Amount determined for certification by December 1, 2025). Furthermore, the amount of each such Payment shall not exceed the Annual Percentage of Incremental Property Tax Revenues (excluding allocations of “back-fill” or “make-up” payments from the State of Iowa for property tax credits or roll-back) actually received by the City from the Marshall County Treasurer attributable to the taxable incremental valuation of the Property in the six (6) months immediately preceding such Payment due date.

  • Call Back Compensation (a) Call back is an occasion where an employee has been released from duty and is called back to work prior to his/her normal starting time. On such occasions, the employee’s scheduled or recognized shift shall be made available for work, except that the Agency shall not be obligated to work the employee more than twelve (12) consecutive hours and the employee may choose not to work more than twelve (12) consecutive hours, excluding meal periods, of combined call back time and regular shift time. (b) An employee who is called back to work outside his/her scheduled workshift shall be paid a minimum of the equivalent of two (2) hours pay at the overtime rate of pay computed from when the employee actually begins work. After two (2) hours work, in each call back situation, the employee shall be compensated at the appropriate rate of pay for time worked. (c) This provision does not apply to telephone calls at home or overtime work which is essentially a continuation of the scheduled workshift.

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!