Payment to Novant Sample Clauses

Payment to Novant. In consideration of the current and expected future costs to be incurred by Novant as part of the restructuring of the Company contemplated herein and Novant’s provision of health care to communities served by the Company, HMA will pay to Novant: (i) on the Closing Date, an amount equal to Six Million One Hundred Fifty Thousand Dollars ($6,150,000), by wire transfer of immediately available funds to an account designated by Novant, and (ii) an additional Two Million Dollars ($2,000,000), payable in successive annual installments of Two Hundred Thousand Dollars ($200,000) each for ten (10) consecutive years (collectively, the “Deferred Payments”). The first installment of Deferred Payments shall be due on January 15, 2010, and each successive installment of Two Hundred Thousand Dollars ($200,000) shall be due on January 15th of each calendar year thereafter, through and including January 15, 2019. All payments shall be made to the address specified in the Notices section hereof, or at such other address as may be specified by Novant, in writing, from time to time. In the event HMA fails to pay any installment of Deferred Payments on the date it is due, Novant shall give HMA written notice of the failure, and HMA shall have ten (10) days following the date of the notice to cure the failure and to make the payment. In the event HMA fails to make the payment within the ten (10) day cure period, the Two Hundred Thousand Dollars ($200,000) installment shall bear interest at the rate of twelve percent (12%) per annum from the date due until the date it is paid in full. Additionally, in the event an installment of the Deferred Payments is not paid following the aforesaid cure period, Novant shall have the right to accelerate and call immediately due the remainder of the Deferred Payments by giving written notice of acceleration to HMA. In the event the payments are accelerated, the entire balance of the Deferred Payments shall bear interest at the rate of twelve percent (12%) per annum from the date due until the date of payment in full. In the event HMA fails to pay an installment of the Deferred Payments when due, and failure is not cured within the applicable cure period, and in the further event that Novant is required to employ an attorney to enforce its rights and remedies, HMA agrees to pay Novant, in addition to all principal and interest hereof, Novant’s reasonable attorney fees (not exceeding a sum equal to fifteen percent (15%) of the outstanding balanc...
Sample 1
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Payment to Novant. In consideration of the current and expected future costs to be incurred by Novant as part of the restructuring of the Company contemplated herein and Novant’s provision of health care to communities served by the Company, HMA will pay to
Sample 1

Related to Payment to Novant

  • Payment of Benefits Any amounts due under this Agreement shall be paid in one (1) lump sum payment as soon as administratively practicable following the later of: (i) Xx. Xxxxxx'x Termination Date, or (ii) upon Xx. Xxxxxx'x tender of an effective Waiver and Release to the Company in the form of Exhibit A attached hereto and the expiration of any applicable revocation period for such waiver. In the event of a dispute with respect to liability or amount of any benefit due hereunder, an effective Waiver and Release shall be tendered at the time of final resolution of any such dispute when payment is tendered by the Company.

  • Payment to Brokers Upon execution and delivery of this Lease by both Parties, Lessor shall pay to the Brokers the brokerage fee agreed to in a separate written agreement (or if there is no such agreement, the sum of or % of the total Base Rent) for the brokerage services rendered by the Brokers.

  • Payment of Extension Fee The Borrower shall pay to the Agent for the pro rata accounts of the Lenders in accordance with their respective Commitments an extension fee in an amount equal to fifteen (15) basis points on the Total Commitment in effect on the Maturity Date (as determined without regard to such extension), which fee shall, when paid, be fully earned and non-refundable under any circumstances.

  • Distribution of Benefits Members of this unit with at least one year of the service to the District may apply for a number of days consistent with a one-for-one match of their individual sick leave accumulation as of the end of the previous contract year brought forward to the year of the onset of disability. The combined benefit of accumulated personal sick leave and disability bank leave may not exceed one hundred-eighty days and may carry over from one contract year to another. Employees with less than one full year of service in the District will not be require to contribute one of their individual accumulated sick leave days to the disability bank. The Board reviews the right to request re-application and documentation from anyone requesting more than forty (40) days from the pool. Any benefits will be minus other insurance coverage (i.e. worker’s compensation, social security, etc.).

  • Death Subsequent to Commencement of Benefit Payments In the event the Executive dies while receiving payments, but prior to receiving all payments due and owing hereunder, the Employer shall pay the Beneficiary the same amounts at the same times as the Employer would have paid the Executive, had the Executive survived.

  • Payment of Fee The cash management fee referred to in Clause 9.1 (Fee Payable) shall only be payable to the Current Issuer Cash Manager on each Payment Date in the manner contemplated by, in accordance with and subject to the provisions of the Current Issuer Pre-Enforcement Revenue Priority of Payments or, as the case may be, the Current Issuer Post-Enforcement Priority of Payments.

  • Payment of Benefit The Company shall pay the annual benefit to the Executive in 12 equal monthly installments commencing with the month following the Executive’s Normal Retirement Date, paying the annual benefit to the Executive for a period of 15 years.

  • Payment of Note Punctually pay or cause to be paid the principal of, interest on and all other amounts payable hereunder and under the Note in accordance with the terms thereof.

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