Payments and Funding Sample Clauses

Payments and Funding. Any payments under this Agreement shall be independent of, and in addition to, those under any other plan, program or agreement which may be in effect between the parties hereto, or any other compensation payable to Employee or Employee’s designee by Employer. This Agreement shall not be construed as a contract of employment nor does it restrict the right of Employer to discharge Employee at will or the right of Employee to terminate said Employee’s employment at will. Employer may, in its sole discretion, purchase an insurance policy on the life of Employee to fund or assist in the funding of this Agreement. Employee agrees to promptly supply to Employer and its selected or prospective insurance carrier, upon request, any and all information requested, in order to enable the insurance carrier to evaluate the risks involved in providing the insurance requested by Employer. Any and all rights to any and all benefits under such insurance policy on the life of Employee shall be solely the property of Employer and all proceeds of such policy shall be payable by the insurer solely to Employer, as owner of such policy. Employee specifically waives any rights in any insurance policy on Employee’s life owned by Employer pursuant to this Agreement. Such policy shall not serve in any way as security to Employee for Employer’s performance under this Agreement. The rights accruing to Employee or any designee hereunder shall be solely those of an unsecured creditor of Employer and shall be subordinate to the rights of the depositors of Employer. Employer may, in its sole discretion, discharge its liabilities under this Agreement to Employee, Employee’s designated beneficiary(ies) or Employee’s estate at any time by the purchase of an annuity from a reputable insurance or similar company authorized to do, and doing, business in North Carolina and the assignment of the rights under said annuity to the benefit of Employee, Employee’s designated beneficiary(ies) or Employee’s estate. If this option is exercised by Employer, all rights accruing to Employee, Employee’s designated beneficiary(ies) or Employee’s estate hereunder shall be governed solely by the annuity contract and any election made under said annuity contract; and Employer shall be fully discharged from any further liabilities to Employee, Employee’s designated beneficiary(ies) or Employee’s estate under this Agreement. Employer may, in its sole discretion, discharge its liabilities under this Agreement to Emp...
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Payments and Funding. Any payments under this Agreement shall be independent of, and in addition to, those under any other plan, program or agreement which may be in effect between the parties hereto, or any other compensation payable to Executive or Executive’s designee by Company. This Agreement shall not be construed as a contract of employment nor does it restrict the right of Company to discharge Executive at will or the right of Executive to terminate said Executive’s employment at will. Company may, in its sole discretion, purchase an insurance policy on the life of Executive to fund or assist in the funding of this Agreement. Executive agrees to promptly supply to Company and its selected or prospective insurance carrier, upon request, any and all information requested, in order to enable the insurance carrier to evaluate the risks involved, in providing the insurance requested by Company. Any and all rights to any and all benefits under such insurance policy on the life of Executive shall be solely the property of Company and all proceeds of such policy shall be payable by the insurer solely to Company, as owner of such policy. Executive specifically waives any rights in any insurance policy on Executive’s life owned by Company pursuant to this Agreement. Such policy shall not serve in any way as security to Executive for Company’s performance under this Agreement. The rights accruing to Executive or any designee hereunder shall be solely those of an unsecured creditor of Company and shall be subordinate to the rights of the depositors of Company.
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Payments and Funding. Any payment under this Agreement shall be independent of and in addition to those under any other plan, program, or agreement that may be in effect between the parties hereto or any other compensation payable to the Executive by the Bank.
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Payments and Funding. The [Equity which is required to be contributed by Financial Close in accordance with the terms of the Shareholder Contribution and Sponsor Support Agreement has been contributed in full] to the Borrower. Evidence that all Fees and Costs then due from the Borrower (including legal fees and costs) have been paid or will be paid [by/before] the first Utilisation Date from proceeds of the [Term Loan A Facility]241. The Original Financial Model, approved by the Model Auditor. The Original Base Case and the list of Assumptions to be used in the Original Base Case agreed between the Borrower and the Intercreditor Agent (in consultation with the Technical Adviser). The Initial Financial Report containing the items that are required for each Financial Report as set out in Clause 16.4 (Financial Report), showing compliance with the following Ratios: (i) Projected DSCR on each Calculation Date at least equal to [ ]:1.0 and (ii) LLCR on that date at least equal to [ ]:1.0.
Sample 1
Payments and Funding. Payments shall be made to the Company for the Unit Cost unless it is a Builder buyout as outlined in section 2.6. Payments shall be made to the Builder, for Soft Costs. Payments shall be as follows: ALL PERCENTAGES ARE LISTED AFTER GIVING EFFECT TO AN INVOICE OR ADVANCE DISCOUNT OF 150 BASIS POINTS A. Model Home:
Sample 1
Payments and Funding. Any payments under this Agreement shall be independent of and in addition to those under any other plan, program, or agreement that may be in effect between the parties hereto or any other compensation payable to the Executive by the Company or the Bank. In its sole discretion the Company may purchase an insurance policy on the Executive’s life. Executive agrees to promptly supply to the Company and its selected or prospective insurance carrier, upon request, any and all information requested to enable the insurance carrier to evaluate the risks associated with providing the insurance requested by the Company. Any and all rights to any and all benefits under the insurance policy on the Executive’s life shall be solely the property of the Company and all proceeds of the policy shall be payable by the insurer solely to the Company as owner of such policy. The Executive specifically waives any rights in any insurance policy on the Executive’s life owned by the Company under this Agreement. Any such insurance policy shall not serve in any way as security to the Executive for the Company’s performance under this Agreement. Any insurance on the Executive’s life is a general asset of the Company to which the Executive and the Executive’s designated beneficiary have no preferred or secured claim.
Sample 1
Payments and Funding. In consideration for the rights granted to Licensee in Article III hereto, Licensee shall pay Licensor the amounts specified in this Funding Agreement including as more specifically set forth in this Article II and Schedule B attached hereto and incorporated herein by reference. (a) Licensee shall pay Licensor within sixty (60) days of the Effective Date a one-time, non-refundable, non-creditable cash payment in the amount equaling Ten Million USD (US$10,000,000.00) (the “Upfront Payment”). (b) In addition to the Upfront Payment, Licensee shall pay Licensor all Cash Funding payable to Licensor hereunder in the amounts, and in accordance with the payment schedules, set forth in Schedule B (all such Cash Funding, the “Flu-CoV Cash Funding”). (c) In addition to Flu-CoV Cash Funding, Licensee shall pay to Licensor such additional amounts as may be agreed upon by the Parties in advance in writing and invoiced by Licensor to Licensee in compensation for any unforeseen costs and expenses incurred by the Research Parties in connection with any Research relating to this Funding Agreement (such additional amounts, “Funding for Cost Overruns”); provided, that the Funding for Cost Overruns shall not exceed more than 10% of the total aggregate Flu-CoV Cash Funding received by Licensor under this Funding Agreement (the “Overages Cap”) without Licensee’s prior written approval for such excess cost overruns or overages. For the avoidance of doubt, any unforeseen costs and expenses incurred for any such Research in excess of the Overages Cap shall be compensated by Licensee to Licensor pursuant to a Project Amendment Order as shall be separately agreed upon and duly executed by the Parties. In addition to the foregoing, in the event that the Research Parties document any additional costs or expenses incurred by (or anticipated to be incurred by) the Research Parties in connection with any INTERACT or Pre-IND benchmark for any Product Candidate or Product, which costs and expenses exceed the Funding for Cost Overruns and the Overages Cap payable by Licensor as set forth above, then Licensor and Licensee will enter into good faith discussions to agree upon an additional resource commitment from Licensee to Licensor, which mutual agreement shall be documented in a duly executed Project Amendment Order under this Funding Agreement. Notwithstanding anything to the contrary herein, in the event the Research Parties undertake Research, upon mutual written agreement of Licensor, L...
Sample 1
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Payments and Funding. Any payments under this Second Agreement shall be independent of, and in addition to, those under any other Plan, program or agreement which may be in effect between the parties hereto, or any other compensation payable to Xxxxxxxxx or Xxxxxxxxx'x designee by Bank. This Second Agreement shall not restrict payment to Xxxxxxxxx for service to Bank as a director or in any other capacity. This Second Agreement shall not be construed as a contract of employment. Bank has purchased an insurance policy on the life of Xxxxxxxxx to fund, or assist in the funding, of the 1986 Agreement. A previously purchased life insurance policy may be used to fund, or assist in the funding of, this Second Agreement. Xxxxxxxxx agrees to promptly supply to Bank and its selected or prospective insurance carrier, upon request, any and all information requested in order to enable the insurance carrier to evaluate the risks involved in providing any insurance requested by Bank, or the continuation of the outstanding policy. Any and all rights to any and all benefits under such insurance policy on the life of Xxxxxxxxx shall be solely the property of Bank and all proceeds of such policy shall be payable by the insurer solely to Bank, as owner of such policy. Xxxxxxxxx specifically waives any rights in any insurance policy on Xxxxxxxxx'x life owned by Bank pursuant to the 1986 Agreement or this Second Agreement. Such policy shall not serve in any way as security to Xxxxxxxxx for Bank's performance under this Second Agreement. The rights accruing to Xxxxxxxxx or any designee hereunder shall be solely those of an unsecured creditor of Bank and shall be subordinate to the rights of the depositors of Bank.
Sample 1
Payments and Funding 
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Related to Payments and Funding

  • Payments and Collections All funds received by the Agent in respect of any payments made by any Borrower on the Term Notes shall be distributed promptly on the date of receipt thereof by the Agent among the Banks, in like currency and funds as received, ratably according to each Bank’s Term Loan Percentage. All funds received by the Agent in respect of any payments made by any Borrower on the Revolving Notes, Revolving Commitment Fees or Letter of Credit Fees shall be distributed promptly on the date of receipt thereof by the Agent among the Banks, in like currency and funds as received, ratably according to each Bank’s Revolving Percentage. After any Event of Default has occurred, all funds received by the Agent, whether as payments by the Borrowers or as realization on collateral or on any guaranties, shall (except as may otherwise be required by law) be distributed by the Agent in the following order: (a) first to the Agent or any Bank that has incurred unreimbursed costs of collection with respect to any Obligations hereunder, ratably to the Agent and each Bank in the proportion that the costs incurred by the Agent or such Bank bear to the total of all such costs incurred by the Agent and all Banks; (b) next to the Agent for the pro rata account of (i) the Banks (in accordance with their respective Total Percentages) for application on the Notes and (ii) the Rate Protection Providers (in accordance with their outstanding and owed Rate Protection Obligations) for application on the Rate Protection Agreements; (c) next to the Agent for the account of the Banks (in accordance with their respective Revolving Percentages) for any unpaid Revolving Commitment Fees or Letter of Credit Fees owing by the Borrowers hereunder; and (d) last to the Agent to be held in the Holding Account to cover any outstanding Letters of Credit.

  • Payments and Prepayments 1.1 Payments and prepayments of principal and interest on this Note shall be made to Payee at 000 Xxxxxxxxx Xxxx Xxxxx, Xxxxx 000, Xxxxx Xxxxxx, X.X. 10604. 1.2 Payments and prepayments of principal and interest on this Note shall be made in lawful money of the United States of America. 1.3 If any payment on this Note becomes due and payable on a Saturday, Sunday or other day an which commercial banks in New York City are authorized or required by law to close, the maturity thereof shall be extended to the next succeeding business day, and, with respect to payments of principal, interest thereon shall be payable during such extension at the then applicable rate. 1.4 The Company shall be obligated to prepay the outstanding principal amount of this Note within ten (10) days after such time as (i) the Company receives net proceeds of at least $1,000,000 from an equity financing, or (ii) the Company sells substantially all its assets. The Company shall have the right at any time and from time to time to prepay this Note in whole or in part, together with interest on the amount prepaid to the date of prepayment, without penalty or premium. Upon payment of part of the principal amount of this Note, the Company may require the holder to present this Note for notation of such payment and, if this Note is paid in full, require the holder to surrender this Note. 1.5 Upon payrnent in full of all outstanding principal and interest due under this Note, the Company's obligations in respect of payment of this Note shall terminate and the holder shall return it to the Company.

  • Payments and Interest Payments required of PURCHASER by this contract or modifications of this contract, other than those in Sections 13 and 42, shall be received by STATE within the time period stated on the instrument requesting payment from PURCHASER. Payments received after the due date stated on the billing instrument may be subject to an interest charge. The interest rate applied to overdue payments shall be the prime interest rate in effect on the day the payment became delinquent, as established by U.S. Bank, Xxxx and Xxxx Branch, plus 4 percent. Interest shall be calculated from the date of the original billing to the date payment is received by the State Forester.

  • Payments and Fees Customer must pay the Fees according to the payment terms in the Sales Order in the currency stated. All invoices will only be delivered electronically using the billing and contact information provided by Customer. Customer agrees to provide clear indication with its payment as to which invoices (or portions thereof) the payment should be applied. Alternatively, these payment details can be emailed to Xxxxxxx@Xxxxxxx.xxx no later than the date of payment.

  • Disbursements and Payments Each disbursement by the Bank and each payment by the Borrower will be: (a) made at the Bank's branch (or other location) selected by the Bank from time to time; (b) made for the account of the Bank's branch selected by the Bank from time to time; (c) made in immediately available funds, or such other type of funds selected by the Bank; (d) evidenced by records kept by the Bank. In addition, the Bank may, at its discretion, require the Borrower to sign one or more promissory notes.

  • Payments and Computations (a) The Borrower shall make each payment to be made by it hereunder not later than 1:00 P.M. (New York City Time) on the day when due in Dollars to the Administrative Agent at the Agent’s Account in same day funds without condition or deduction for any counterclaim, defense, recoupment or setoff. The Administrative Agent will promptly thereafter cause to be distributed like funds relating to the payment of principal or interest or commitment fees ratably (other than amounts payable pursuant to Section 2.02(c), 2.06, 2.11(c), 2.13(c), 2.15, 2.18, 2.21 or 8.04(c)) to the Lenders for the account of their respective Applicable Lending Offices, and like funds relating to the payment of any other amount payable to any Lender to such Lender for the account of its Applicable Lending Office, in each case to be applied in accordance with the terms of this Agreement. Upon its acceptance of an Assignment and Assumption and recording of the information contained therein in the Register pursuant to Section 8.07(c), from and after the effective date specified in such Assignment and Assumption, the Administrative Agent shall make all payments hereunder in respect of the interest assigned thereby to the Lender assignee thereunder, and the parties to such Assignment and Assumption shall make all appropriate adjustments in such payments for periods prior to such effective date directly between themselves. (b) The Borrower hereby authorizes each Lender, if and to the extent payment owed to such Lender is not made when due hereunder, after any applicable grace period, to charge from time to time against any or all of the Borrower’s accounts with such Lender any amount so due. (c) All computations of interest based on the rate referred to in clause (i) of the definition of the “Base Rate” contained in Section 1.01 shall be made by the Administrative Agent on the basis of a year of 365 or 366 days, as the case may be, and all computations of interest based on the Eurodollar Rate, the Federal Funds Effective Rate, NYFRB Rate or the rate referred to in clause (iii) of the definition of the “Base Rate” and of commitment fees and LC Fees shall be made by the Administrative Agent on the basis of a year of 360 days, in each case for the actual number of days (including the first day but excluding the last day) occurring in the period for which such interest, commitment fees or LC Fees are payable. Each determination by the Administrative Agent of an interest rate hereunder shall be conclusive and binding for all purposes, absent manifest error. (d) Whenever any payment hereunder shall be stated to be due on a day other than a Business Day, such payment shall be made on the next succeeding Business Day, and such extension of time shall in such case be included in the computation of payment of interest or commitment fees, as the case may be; provided, however, that, if such extension would cause payment of interest on or principal of Eurodollar Rate Revolving Loans to be made in the next following calendar month or on a date after the Termination Date, such payment shall be made on the next preceding Business Day. (e) Unless the Administrative Agent shall have received notice from the Borrower prior to the date on which any payment is due to a Lender hereunder that the Borrower will not make such payment in full, the Administrative Agent may assume that the Borrower has made such payment in full to the Administrative Agent on such date, and the Administrative Agent may, in reliance upon such assumption, cause to be distributed to each Lender on such due date an amount equal to the amount then due such Lender. If and to the extent that the Borrower shall not have so made such payment in full to the Administrative Agent, each Lender shall repay to the Administrative Agent forthwith on demand such amount distributed to such Lender together with interest thereon, for each day from the date such amount is distributed to such Lender until the date such Lender repays such amount to the Administrative Agent, at the Federal Funds Effective Rate. (f) Notwithstanding anything to the contrary set forth in subsection (a) above or Section 2.04(d), the Borrower may pay, or cause to be paid pursuant to the applicable Related Documents, the Reimbursement Amount with respect to any drawing under a Bond Letter of Credit directly to the LC Issuing Bank that issued such Bond Letter of Credit. Upon receipt of any such payment, such LC Issuing Bank will promptly (i) (A) apply such payment to that portion of such Reimbursement Amount participations in which have not been funded by the Lenders under Section 2.04(e) and (B) remit the balance of such payment to the Administrative Agent for further payment to the Lenders that have funded participations in such Reimbursement Amount pursuant to Section 2.04(e), or (ii) if such Reimbursement Amount has been financed with Borrowings, remit such payment to the Administrative Agent, which will apply such payment to the prepayment of Borrowings in a principal amount equal to the principal amount of such Reimbursement Amount so financed. The Administrative Agent shall select the Borrowings to be prepaid pursuant to clause (ii) above in a manner that will mitigate, to the extent practical, the Borrower’s obligations under Section 8.04(c) with respect to such prepayment.

  • Loan Payments a. On each Payment Date during the term of the Loan, the Borrower shall pay interest in arrears at the Applicable Rate(s) on the outstanding principal balance of the Loan in the amount of all interest accrued and unpaid through the last day of the calendar month preceding the calendar month in which such payment is due; and b. If on a Determination Date, the amount of the Loan exceeds the Borrowing Base, Borrower shall pay to Bank within fifteen (15) days after such Determination Date a principal payment in an amount sufficient to reduce the principal balance of the Loan as of such Determination Date to an amount equal to the Borrowing Base; c. In any and all events, the entire outstanding principal balance of the Loan, together with all accrued and unpaid interest thereon, shall be due and payable on the Scheduled Maturity Date. Borrower may sell any of the Borrower Kite Units subject to the lien and security interest of the Kite Units Pledge Agreement, provided no Event of Default is the continuing and provided Borrower makes to Bank a principal payment in an amount sufficient to reduce the principal balance of the Loan immediately following such sale to an amount equal to Fifty Percent (50%) of the then market value (as quoted on the New York Stock Exchange) of the number of shares of beneficial interest (or other comparable equity interest of Kite) which would be subject to the lien and security interest of the Kite Units Pledge Agreement immediately following such sale (such a payment being referred to herein as a "Pledge Agreement Release Price"). Upon the receipt of such Pledge Agreement Release Price payment, Bank will execute a release of the Kite Units Pledge Agreement from the beneficial interests for which such Pledge Agreement Release Price payment is made and will release all of its other security encumbering such interests.

  • Prepayments Payments Taxes Mandatory and Voluntary Payment; Mandatory and Voluntary Reduction of Commitments.................................. 10 3.02

  • Repayments and Prepayments; Application The Borrower agrees that the Loans shall be repaid and prepaid pursuant to the following terms.

  • Payments and Computations, Etc (a) All amounts to be paid or deposited by the Seller or the Servicer hereunder or under any other Transaction Document shall be made without reduction for offset or counterclaim and shall be paid or deposited no later than noon (New York, New York time) on the day when due in same day funds to the account for each Purchaser maintained by the applicable Purchaser Agent as may be designated from time to time by such Purchaser Agent to the Seller and the Servicer. All amounts received after 1:00 p.m. (New York, New York time) will be deemed to have been received on the next Business Day. Except as expressly set forth herein, each Purchaser Agent shall distribute the amounts paid to it hereunder for the benefit of the Purchasers in its Purchaser Group to the Purchasers within its Purchaser Group ratably (x) in the case of such amounts paid in respect of Discount and fees, according to the Discount and fees payable to such Purchasers and (y) in the case of such amounts paid in respect of Capital (or in respect of any other obligations other than Discount and fees), according to the outstanding Capital funded by such Purchasers. (b) The Seller (with respect to amounts payable by the Seller) or the Servicer (with respect to amounts payable by the Servicer), as the case may be, shall, to the extent permitted by law, pay interest on any amount not paid or deposited by the Seller or the Servicer, as the case may be, when due and payable hereunder, at an interest rate equal to 2.00% per annum above the Base Rate, payable on demand; provided, that such rate shall not at any time exceed the maximum rate permitted by applicable Law. (c) All computations of interest under clause (b) and all computations of Discount, fees and other amounts hereunder shall be made on the basis of a year of 360 days (or 365 or 366 days, as applicable, with respect to Discount or other amounts calculated by reference to the Base Rate) for the actual number of days elapsed. Whenever any payment or deposit to be made hereunder shall be due on a day other than a Business Day, such payment or deposit shall be made on the next Business Day and such extension of time shall be included in the computation of such payment or deposit.

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