Payment of Performance Rebates and Bonuses Sample Clauses

Payment of Performance Rebates and Bonuses. (a) Subject to Section 8.2.2, Contractor shall pay to Owner all rebate amounts required under Sections 8.1.1.3 and 8.1.2.3 hereof within fifteen (15) days after the determination that the conditions (other than the payment of these rebate amounts) to Final Acceptance have been achieved. All rebate amounts required under Sections 8.1.1.2 and 8.1.2.2 hereof shall be due and payable by Contractor to Owner monthly in arrears on the tenth day of each month, with the last such payment to occur no later than ten (10) days after the determination that Final Acceptance has been achieved. (b) Owner shall pay all bonus amounts due to Contractor pursuant to Sections 7.5 and 8.1.2.4 hereof (but not the bonus amounts due to Contractor pursuant to Section 8.1.1.4 hereof, which shall be paid at the times set forth therein) at the same time (and subject to the same conditions) as its payment of Retainage pursuant to Section 4.2.4(a) hereof; provided, however, that in the event and to the extent that Owner does not have sufficient funds available to make any such bonus payments at such time (after the payment of or, if applicable, reservation for all Retainage hereunder, all then-current operating and maintenance expenses, taxes, debt service and required contributions to reserves under the Financing Documents, and then-current reasonable working capital requirements), such unpaid bonus payments shall accrue interest from such otherwise applicable payment date until paid at the rate set forth in Section 25.1 hereof and shall be payable by Owner at the times and to the extent of seventy-five percent (75%) of the first after-tax net cash flow from Facility operations that is distributable to Owner in accordance with the provisions of the Financing Documents (provided, that such seventy-five percent amount shall be inclusive of any bonus payments to be made to Contractor on such date under Section 8.1.1.4 hereof, such that the aggregate bonus payments to be made by Owner to Contractor on any such distribution date do not exceed seventy-five percent (75%) of the total after-tax net cash flow available for distribution to Owner on such date). Owner's obligation to pay any such deferred bonus payments shall not be secured by any lien or security interest on the Facility or any other assets of Owner (for the avoidance of doubt, the Parties hereby acknowledge and agree that this sentence shall not prevent the imposition of any judgment lien or other judicial lien on the Facility or...
Sample 1Sample 2Sample 3
AutoNDA by SimpleDocs

Related to Payment of Performance Rebates and Bonuses

  • Grant of Performance Shares Pursuant to the provisions of (i) the Plan, (ii) the individual Award Agreement governing the grant, and (iii) these Terms and Conditions, the Employee may be entitled to receive Performance Shares. Each Performance Share that becomes payable shall entitle the Employee to receive from the Company one share of the Company's common stock (“Common Stock”) upon the expiration of the Incentive Period, as defined in Section 2, except as provided in Section 13. The actual number of Performance Shares an Employee will receive will be calculated in the manner described in these Terms and Conditions, including Exhibit A, and may be different than the Target Number of Performance Shares set forth in the Award Agreement.

  • Timing of Payment of Performance When the payment of any obligation or the performance of any covenant, duty or obligation is stated to be due or performance required on a day which is not a Business Day, the date of such payment (other than as described in the definition of Interest Period) or performance shall extend to the immediately succeeding Business Day.

  • Grant of Performance Units Capital One hereby grants to you an award of Units with a Target Award, as indicated on the Grant Notice. The maximum payout for this award is 150% of the Target Award plus accrued dividends pursuant to Section 6. The Units shall vest and the underlying shares of common stock of Capital One, $.01 par value per share (such underlying shares, the “Shares”), shall be issuable only in accordance with the provisions of this Agreement and the Plan.

  • Performance Bonuses The Executive will be eligible to receive an annual cash bonus at an annualized rate of up to 40% of his base salary, based on the achievement of reasonable individual and Company performance targets to be established by the Company and Parent.

  • Grant of Performance Share Units The Company hereby grants to the Participant the Target Number of PSUs Granted, effective as of the Date of Award and subject to the terms and conditions of the Plan and this Award Agreement. Each PSU represents the unsecured right to receive a number of Shares, if any, in accordance with the terms and conditions of this Award Agreement. The Participant shall not be required to pay any additional consideration for the issuance of the Shares, if any, upon settlement of the PSUs.

  • Grant of Performance Stock Units Subject to the terms of this Agreement, and the Incentive Plan, effective as of the Grant Date the Participant is hereby granted [Number] Performance Stock Units (the “Target Performance Units”). This Award contains the right to dividend equivalents (“Dividend Equivalents”) with respect to Earned Performance Units (as defined in Section 3(a)) as described in Section 4. Each Performance Stock Unit awarded hereunder shall become earned and vested as described in Section 3 and each Earned Performance Unit (and associated Earned Dividend Equivalents thereon as described in Section 4) shall be settled in accordance with Section 5.

  • Annual Performance Bonus During the Employment Term, the Executive shall be entitled to participate in the STIP, with such opportunities as may be determined by the Chief Executive Officer in his sole discretion (“Target Bonuses”), and as may be increased (but not decreased, except for across-the-board reductions generally applicable to the Company’s senior executives) from time to time, and the Executive shall be entitled to receive full payment of any award under the STIP, determined pursuant to the STIP (a “Bonus Award”).

  • PERIOD OF PERFORMANCE The period of performance for this contract begins , and ends .

  • Commencement of Performance This Agreement is of no force and effect until signed by both parties and all JBE-required approvals are secured. Any commencement of performance prior to Agreement approval shall be at Contractor's own risk.

  • Review of Performance The Board of Directors shall periodically review and evaluate the performance of Employee under this Employment Agreement with Employee.

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