PAYMENT TO THE BENEFICIARY Sample Clauses

PAYMENT TO THE BENEFICIARY. Within ten (10) days following receipt by the Escrow Agent of a certificate from the Beneficiary (a form of which is attached hereto as Exhibit F) stating that the procedure set forth in Article 6 of the Share Purchase Agreement has been completed, the Escrow Agent shall pay to the Beneficiary any Price Reduction and/or Price Differential, up to the limit of the Escrowed Amount. The certificate shall confirm that (i) the procedure set forth in Article 6 of the Share Purchase Agreement has been completed, (ii) that a Price Reduction and/or a Price Differential is (are) due by the Warrantors under such procedure, (iii) that the Warrantors have not paid the amount of the Price Reduction and/or Price Differential to the Beneficiary on the terms and conditions set forth in the Share Purchase Agreement, and (iv) the amount of the Price Reduction and/or Price Differential should be released from the Escrowed Amount for the Beneficiary's benefit. There shall be attached to the certificate a copy of the certificate of the firm of Deloitte & Touche or Mazars et Gxxxxxx, as the case may be, indicating the amount of the Price Reduction and/or Price Differential due by the Warrantors under Article 6 of the Share Purchase Agreement.
Sample 1
AutoNDA by SimpleDocs
PAYMENT TO THE BENEFICIARY. The Trustor shall pay to the Beneficiary all amounts identified in the Note in the amount(s) and at the time(s) specified in such document. The failure to do so constitutes an Event of Default authorizing and permitting the Beneficiary to exercise the remedies set forth in Article VII hereof.
Sample 1

Related to PAYMENT TO THE BENEFICIARY

  • Payments to Beneficiary If the Executive dies before receiving amounts to which the Executive is entitled under this Agreement, such amounts shall be paid in a lump sum to the beneficiary designated in writing by the Executive, or if none is so designated, to the Executive’s estate.

  • Notice of Final Distribution The notice to be provided pursuant to Section 9.02 to the effect that final distribution on any of the Certificates shall be made only upon presentation and surrender thereof.

  • Distribution or Notice to Representative Whenever a distribution is to be made or a notice given to holders of Senior Indebtedness, the distribution may be made and the notice given to their Representative (if any).

  • Distribution to Lenders Upon the Administrative Agent’s receipt of payments hereunder, the Administrative Agent shall immediately distribute to each Lender or the applicable LC Issuer, as the case may be, its ratable share, if any, of the amount of principal, interest, and Fees received by it for the account of such Lender. Payments received by the Administrative Agent in Dollars shall be delivered to the Lenders or the applicable LC Issuer, as the case may be, in Dollars in immediately available funds; provided, however, that if at any time insufficient funds are received by and available to the Administrative Agent to pay fully all amounts of principal, Unpaid Drawings, interest and Fees then due hereunder then, except as specifically set forth elsewhere in this Agreement and subject to Section 8.03, such funds shall be applied, first, towards payment of interest and Fees then due hereunder, ratably among the parties entitled thereto in accordance with the amounts of interest and Fees then due to such parties, and second, towards payment of principal and Unpaid Drawings then due hereunder, ratably among the parties entitled thereto in accordance with the amounts of principal and Unpaid Drawings then due to such parties.

  • Trustee Responsibility Regarding Payments to Trust Beneficiary When Company Is Insolvent (a) Trustee shall cease payment of benefits to Plan participants and their beneficiaries if the Company is Insolvent. Company shall be considered "Insolvent" for purposes of this Trust Agreement if (i) Company is unable to pay its debts as they become due, or (ii) Company is subject to a pending proceeding as a debtor under the United States Bankruptcy Code.

  • Appointment to Fill a Vacancy in the Office of Trustee The Issuers, whenever necessary to avoid or fill a vacancy in the office of Trustee, will appoint, in the manner provided in Section 7.08, a Trustee, so that there shall at all times be a Trustee hereunder with respect to each series of Debt Securities.

  • Exclusive Benefit The foregoing conditions are for the exclusive benefit of the Purchaser and any such condition may be waived in whole or in part by the Purchaser delivering to the Vendor a written waiver to that effect signed by the Purchaser.

  • Designation of Beneficiary The depositor may designate a beneficiary or beneficiaries to receive benefits from the custodial account in the event of the depositor’s death. In the event the depositor has not designated a beneficiary, or if all beneficiaries shall predecease the depositor, the following persons shall take in the order named:

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