Payment Owed Sample Clauses

The Payment Owed clause defines the obligation of one party to pay a specified amount to another party under the terms of the agreement. It typically outlines when payments are due, the method of payment, and any conditions that must be met before payment is required, such as delivery of goods or completion of services. This clause ensures that both parties are clear about payment expectations, reducing the risk of disputes over unpaid amounts and providing a clear mechanism for enforcing payment obligations.
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Payment Owed. Except in the case of termination of this Agreement as a result of an uncured, material breach of this Agreement by the Institution, upon termination of an SOW, SPONSOR shall, upon receipt of applicable invoices and other supporting documentation reasonably satisfactory to SPONSOR: (a) reimburse the Institution for its necessary Study costs and necessary un-cancelable Study costs and expenses incurred in connection with transfer of Subjects pursuant to Section 22.3 and (b) with respect to Subjects who have not completed the Study at the date of the termination, make payments to the Institution in accordance with the applicable Study Budget for work already performed in accordance with the Study. For clarity, the SPONSOR shall pay for all work performed and Study expenses incurred in accordance with the applicable Study Budget until the point of the material breach by Institution.
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Payment Owed. Except in the case of termination of this Agreement as a result of an uncured, material breach of this Agreement by the Institution, upon termination of an SOW, SPONSOR shall, upon receipt of applicable invoices and other supporting documentation reasonably satisfactory to SPONSOR: (a) reimburse the Institution for its necessary Study costs and necessary and/or SPONSOR allowed non-cancelable Study costs and expenses incurred and/or committed to in connection with transfer of Subjects pursuant to Section 22.3 and (b) with respect to Subjects who have not completed the Study at the date of the termination, make payments to the Institution in accordance with the applicable Study Budget for work already performed and/or committed to in accordance with the Study. For clarity, the SPONSOR shall pay for all work performed and Study expenses incurred and/or committed to in accordance with the applicable Study Budget until the point of the material breach by Institution. Additionally, irrespective of the time of material breach by Institution, SPONSOR shall pay for any Work Product that is usable by SPONSOR notwithstanding the breach.
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Payment Owed. Except in the case of termination of this Agreement as a result of an uncured breach of this Agreement by the Institution, upon termination of the Study or this Agreement, AstraZeneca shall, upon receipt of applicable invoices and other supporting documentation satisfactory to AstraZeneca: (a) reimburse the Institution for its reasonable and verifiable Study costs and reasonable un-cancelable Study costs or expenses incurred in connection with transfer of Subjects pursuant to Section 24.3 and (b) with respect to Subjects who have not completed the Study at the date of the termination, make payments to the Institution in accordance with Exhibit A for work already performed in accordance with the Study.
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Related to Payment Owed

  • Payment Over (a) So long as the Discharge of First Lien Obligations has not occurred, any payment or distribution or any Collateral, or any proceeds thereof (together with assets or proceeds subject to Liens referred to in the final sentence of Section 2.03), received by each of the Second Lien Collateral Agent or any other Second Lien Secured Party, or Third Lien Collateral Agent or any other Third Lien Secured Party in connection with any Disposition of, or collection on, such Collateral upon the enforcement or the exercise of any right or remedy (including any right of setoff) with respect to the Collateral, or in connection with any insurance policy claim or any condemnation award (or deed in lieu of condemnation), or otherwise in contravention of this Agreement shall be segregated and held in trust and forthwith transferred or paid over to the First Lien Collateral Agent for the benefit of the First Lien Secured Parties in the same form as received, together with any necessary endorsements, or as a court of competent jurisdiction may otherwise direct. Until the Discharge of First Lien Obligations occurs, each of the Second Lien Note Holders and the Third Lien Collateral Note Holders hereby appoints the First Lien Collateral Agent, and any officer or agent of the First Lien Collateral Agent, with full power of substitution, the attorney-in-fact of each Second Lien Note Holder and Third Lien Note Holder, respectively, for the purpose of carrying out the provisions of this Section 4.02 and taking any action and executing any instrument that the First Lien Collateral Agent may deem necessary or advisable to accomplish the purposes of this Section 4.02, which appointment is irrevocable and coupled with an interest. (b) After the Discharge of First Lien Obligations has occurred and so long as the Discharge of Second Lien Obligations has not occurred, any payment or distribution or any Collateral, or any proceeds thereof (together with assets or proceeds subject to Liens referred to in the final sentence of Section 2.03), received by the Third Lien Collateral Agent or any other Third Lien Secured Party in connection with any Disposition of, or collection on, such Collateral upon the enforcement or the exercise of any right or remedy (including any right of setoff) with respect to the Collateral, or in connection with any insurance policy claim or any condemnation award (or deed in lieu of condemnation), or otherwise in contravention of this Agreement shall be segregated and held in trust and forthwith transferred or paid over to the Second Lien Collateral Agent for the benefit of the Second Lien Secured Parties in the same form as received, together with any necessary endorsements, or as a court of competent jurisdiction may otherwise direct. After the Discharge of First Lien Obligations has occurred and until the Discharge of Second Lien Obligations occurs, the Third Lien Note Holders hereby appoints the Second Lien Collateral Agent, and any officer or agent of the Second Lien Collateral Agent, with full power of substitution, the attorney-in-fact of each Third Lien Note Holder for the purpose of carrying out the provisions of this Section 4.02 and taking any action and executing any instrument that the Second Lien Collateral Agent may deem necessary or advisable to accomplish the purposes of this Section 4.02, which appointment is irrevocable and coupled with an interest.

  • ▇▇▇▇▇▇▇▇▇ Payment The Company shall pay to you the following amounts: i. the Accrued Obligations, which shall be paid to you in a single lump sum cash payment within fifteen (15) calendar days of the Date of Termination; ii. the Pro Rata Bonus, which shall be paid to you in a single lump sum cash payment no later than the later of (A) fifteen (15) calendar days following the Date of Termination or (B) the effective date of the Waiver and Release; iii. an amount equal to the product of (A) 2.0 times (B) the sum of (1) your Adjusted Base Salary plus (2) the greater of (x) your Target Bonus or (y) the average of the annual bonuses paid or to be paid to you with respect to the immediately preceding three (3) fiscal years, which amount shall be paid to you in a single lump sum cash payment no later than the later of (i) fifteen (15) calendar days following the Date of Termination or (ii) the effective date of the Waiver and Release; iv. if you had previously consented to the Company’s request to relocate your principal place of employment more than forty (40) miles from its location immediately prior to the Change of Control, all unreimbursed relocation expenses incurred by you in accordance with the Company’s relocation policies, which expenses shall be paid to you in a single lump sum cash payment no later than the later of (A) fifteen (15) calendar days following the Date of Termination or (B) the effective date of the Waiver and Release; and v. the Other Benefits, which shall be paid in accordance with the then-existing terms and conditions of such plans, programs or policies.

  • ▇▇▇▇▇▇▇▇▇ Payments The Company shall pay Executive cash benefits equal to: (1) two times Executive's Base Salary in effect on the date of the Change of Control or the Termination Date, whichever is higher; provided that if any reduction of the Base Salary has occurred, then the Base Salary on either date shall be as in effect immediately prior to such reduction, payable in regular installments at such times as would otherwise be the Company's usual payroll practice over a period of two years; and (2) the higher of: (A) two times Executive's Target Bonus in effect on the date of the Change of Control or the Termination Date, whichever is greater; or (B) two times Executive's most recent actual annual bonus, payable in either case ratably in regular installments at the same time as payments are made to Executive under Section 3(a)(1) above; provided that if any reduction of the Target Bonus has occurred, then the Target Bonus on either date shall be as in effect immediately prior to such reduction; and (3) Executive's Target Bonus (as determined in (2), above) multiplied by a fraction, the numerator of which shall equal the number of days Executive was employed by the Company in the Company fiscal year in which the Termination Date occurs and the denominator of which shall equal 365, payable as a cash lump sum within forty days after the Termination Date; and (4) in the case of a termination of employment by Executive for Good Reason, an amount equal to the severance pay specified in Article 6.A. 1. of the attached Presidents' Council Agreement (as defined in Section 8 hereof), payable according to the schedule set forth therein, determined as if Executive's employment had been terminated by ARAMARK without Cause on the Termination Date.

  • 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.

  • Installment Payments Notwithstanding Section 3.01, the Executive may elect by written notice to receive any payments due to him hereunder by way of periodic or installment payments.