Payment of Shared Costs Sample Clauses

Payment of Shared Costs. The parties will contribute to shared costs as they are incurred. After a Commercialization Event occurs with respect to a Product and Net Proceeds are being generated: (i) The Steering Committee will determine a percentage of the Net Proceeds that will be directed into a sinking fund out of which shared costs and any liabilities incurred will be paid, and (ii) to the extent that the sinking fund contains insufficient funds to pay any shared costs incurred, MSS will have the option to require the University to contribute its share of the balance directly to MSS, or to pay such shared costs directly and to offset the University's share of such costs against the share of any Net Proceeds or development funds to which the University is entitled hereunder.
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Payment of Shared Costs. 7.1 No later than 31 January in each and every year the Joint Committee will agree a budget for the forthcoming financial year (1 April to 31 March) setting out the estimated cost of:
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Payment of Shared Costs. (a) Arch hereby agrees to pay 40% of all Shared Costs, Xxxxx hereby agrees to pay 30% of all Shared Costs and Warburg hereby agrees to pay 30% of all Shared Costs, and each Participant agrees to pay their respective percentage of all Shared Costs upon the earlier of (i) the consummation of the Acquisition, (ii) the termination of the agreement pursuant to which the Acquisition will be consummated (the “Acquisition Agreement”), and (iii) the unanimous decision by the Participants to not proceed with the Acquisition; provided however that if the Acquisition is consummated, either Watford or the legal entity formed for the purpose of consummating the Acquisition shall bear all Shared Costs.
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Payment of Shared Costs. (a) Except as otherwise provided in this Section 7, each of the Parties responsible for a share of the Shared Costs pursuant to a budget and allocation adopted under Section 6 shall pay to Classics the quarterly amount allocated to it on or before the first day of each quarter (January, April, July and October). Classics will notify each Party in writing if the payment is not received by the 5th day. The Party shall have five (5) days from receipt of written notice to cure the late payment. Payment not received by the term of cure (i.e. no later than five days of receipt of written notice) will incur interest at the rate of eighteen percent (18%) per annum (or the highest rate allowed under Florida law, whichever is more). The interest will accrue from the 1st day of the month the payment is due until such time as the payment is made and the responsible Party to whom the payment is due shall be entitled to collect from the delinquent Party all costs of collection, including but not limited to reasonable attorney’s fees and court costs. If payment of the Shared Costs (not in dispute) is not made by the sixtieth (60th) day of the quarter, the delinquent Party will be deemed to be in default of the Access Easement And Agreement and will be notified in writing. After written notice of default is provided and the default is still not cured, Classics reserves the right to shut off the barcodes for the defaulting Party’s residents until such time that the default is cured.
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Payment of Shared Costs. Within thirty (30) days after the end of each month, HCC will provide Pharmacyclics with a detailed accounting of the Shared Development Costs incurred by HCC during such month, along with an invoice for such costs. Such invoices will be due and payable within thirty (30) days of receipt.
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Payment of Shared Costs. Each of the Owners shall finance its portion of the cost of planning, development, acquisition, design, procurement, construction, operation, maintenance, repair, replacement and retirement of CB4 Transmission. From time to time, typically monthly, Agent may request each of the Owners to advance to Agent such amounts as are anticipated to be needed for construction, operation and maintenance of CB4 Transmission, payment of which is to be made to Agent as specified in Exhibit E or as described in such request.
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Related to Payment of Shared Costs

  • Treatment of Shared Contracts (a) Subject to applicable Law and without limiting the generality of the obligations set forth in Section 2.1, unless the Parties otherwise agree or the benefits of any contract, agreement, arrangement, commitment or understanding described in this Section 2.8 are expressly conveyed to the applicable Party pursuant to this Agreement or an Ancillary Agreement, any contract or agreement, a portion of which is a SpinCo Contract, but the remainder of which is a Parent Asset (any such contract or agreement, a “Shared Contract”), shall be assigned in relevant part to the applicable member(s) of the applicable Group, if so assignable, or appropriately amended prior to, on or after the Effective Time, so that each Party or the member of its Group shall, as of the Effective Time, be entitled to the rights and benefits, and shall assume the related portion of any Liabilities, inuring to its respective businesses; provided, however, that (i) in no event shall any member of any Group be required to assign (or amend) any Shared Contract in its entirety or to assign a portion of any Shared Contract which is not assignable (or cannot be amended) by its terms (including any terms imposing consents or conditions on an assignment where such consents or conditions have not been obtained or fulfilled) and (ii) if any Shared Contract cannot be so partially assigned by its terms or otherwise, or cannot be amended or if such assignment or amendment would impair the benefit the parties thereto derive from such Shared Contract, then the Parties shall, and shall cause each of the members of their respective Groups to, take such other reasonable and permissible actions (including by providing prompt notice to the other Party with respect to any relevant claim of Liability or other relevant matters arising in connection with a Shared Contract so as to allow such other Party the ability to exercise any applicable rights under such Shared Contract) to cause a member of the SpinCo Group or the Parent Group, as the case may be, to receive the rights and benefits of that portion of each Shared Contract that relates to the SpinCo Business or the Parent Business, as the case may be (in each case, to the extent so related), as if such Shared Contract had been assigned to a member of the applicable Group (or amended to allow a member of the applicable Group to exercise applicable rights under such Shared Contract) pursuant to this Section 2.8, and to bear the burden of the corresponding Liabilities (including any Liabilities that may arise by reason of such arrangement), as if such Liabilities had been assumed by a member of the applicable Group pursuant to this Section 2.8.

  • Administration of Shared-Loss Assets The Assuming Institution shall at all times prior to the Termination Date comply with the Rules Regarding the Administration of Shared-Loss Assets as set forth in Article III of this Commercial Shared-Loss Agreement.

  • Post Default Allocation of Payments Notwithstanding anything herein to the contrary, during an Event of Default, monies to be applied to the Obligations, whether arising from payments by Obligors, realization on Collateral, setoff or otherwise, shall be allocated as follows:

  • Allocation of Payments After Event of Default Notwithstanding any other provisions of this Credit Agreement, after the occurrence and during the continuance of an Event of Default with respect to any Borrower, all amounts collected from such Borrower or received by the Administrative Agent or any Lender on account of amounts outstanding under any of the Credit Documents shall be paid over or delivered as follows: FIRST, to the payment of all reasonable out-of-pocket costs and expenses (including without limitation reasonable outside attorneys’ fees other than the fees of in-house counsel) of the Administrative Agent or any of the Lenders in connection with enforcing the rights of the Lenders under the Credit Documents against such Borrower and any protective advances made by the Administrative Agent or any of the Lenders, pro rata as set forth below; SECOND, to payment of any fees owed to the Administrative Agent or any Lender by such Borrower, pro rata as set forth below; THIRD, to the payment of all accrued interest payable to the Lenders by such Borrower hereunder, pro rata as set forth below; FOURTH, to the payment of the outstanding principal amount of the Loans or Letters of Credit outstanding of such Borrower, pro rata as set forth below; FIFTH, to all other obligations which shall have become due and payable of such Borrower under the Credit Documents and not repaid pursuant to clauses “FIRST” through “FOURTH” above; and SIXTH, the payment of the surplus, if any, to whoever may be lawfully entitled to receive such surplus. In carrying out the foregoing, (a) amounts received shall be applied in the numerical order provided until exhausted prior to application to the next succeeding category and (b) each of the Lenders shall receive an amount equal to its pro rata share (based on each Lender’s Commitment Percentages) of amounts available to be applied.

  • Payment of Sales, Use or Similar Taxes All sales, use, transfer, intangible, recordation, documentary stamp or similar Taxes or charges, of any nature whatsoever, applicable to, or resulting from, the transactions contemplated by this Agreement shall be borne by the Sellers.

  • Distribution of payments to Creditor Parties Subject to Clauses 16.5, 16.6 and 16.7:

  • Payment Processing; Allocation; Priority of Payments (i) The Servicer shall post all payments received to Customer accounts as promptly as practicable, and, in any event, substantially all payments shall be posted no later than three (3) Business Days after receipt.

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