PAYMENTS AND SECURITY. Price and Payment The Maintenance Price is paid in monthly installments, payable in arrears pursuant to Draw Requests submitted on the first day of each month of such Maintenance Term year. The annual Maintenance Price (MP) will be escalated or reduced based on changes in the Engineering News Record Construction Cost Index (ENR CCI). Retainage The Maintenance Contractor shall provide a retainage bond in the amount of 10% of the Maintenance Price, to be used as a guaranty for the protection of any claimants and TxDOT for overpayments, Liquidated Damages, and other deductions or damages owed by the Maintenance Contractor in connection with the COMA. Insurance The Maintenance Contractor is responsible for maintaining insurance meeting TxDOT standards. Additional insurance may be required in the event of any unplanned capital maintenance. Bonds Performance and Payment Bonds are required, each having a term equal or greater to the then-current Maintenance Term. Guaranty TxDOT may, in its discretion based upon the review of the Financial Information provided in the RFQ and RFP, specify that an acceptable parent company or other affiliate company act as a Guarantor to the Design-Build Contractor by providing a guarantee with respect to the Design-Builder’s financial capabilities in a form acceptable to TxDOT. In addition, the Maintenance Contractor may be required to provide a guaranty if minimum net worth requirements are not met during the term of the COMA. Unplanned Capital Maintenance In connection with the performance of any unplanned capital maintenance or Change Orders, the Maintenance Contractor shall procure and maintain (a) the insurance deemed appropriate by TxDOT in its sole discretion and (b) payment and performance bonds all in the full amount of the unplanned capital maintenance or Change Order as determined by TxDOT in its sole discretion; provided, however, that subject to applicable law, TxDOT may, in its sole discretion, lower the level of bonding required.
PAYMENTS AND SECURITY. 3.1 Lessee shall pay Rent to Lessor and provide Lessor’s Security in respect of each Engine when and as specified in the Lease relating to such Engine.
3.2 (a) Regarding the Deposit specified in any Lease:-
(i) it shall be held by Lessor, commingled with its own funds, as security for the full, punctual performance of all of Lessee’s obligations under the Lessee Documents. Lessor may but shall not be obliged to apply the Deposit in whole or in part for the payment of any amounts owing from time to time by Lessee or to perform any of Lessee’s obligations or otherwise remedy any Event of Default. Upon any depletion of the Deposit, Lessee shall, promptly following receipt of a written notice from Lessor that all or any portion of the Deposit has been depleted, restore the Deposit to its full cash amount;
(ii) Lessee shall not attempt to subject the Deposit to any Encumbrance or assign any interest therein to any other party. Subject to Clause 12, the Deposit may be assigned by Lessor in whole but not in part to the Lender or any assignee or transferee of Lessor provided, however, that any such Lender, assignee or transferee shall have agreed in writing for the benefit of Lessee to hold, apply and return such Deposit solely for the purposes and as provided in this Agreement or the relevant Lease;
(iii) upon the occurrence of an Event of Default, the Deposit shall automatically and without further act be applied against any amount due and payable to Lessor, unless Lessor thereafter elects otherwise by notice to Lessee;
(iv) upon Lessor’s acceptance of but no later than 10 days following Redelivery of the Engine in conformity herewith and with the applicable Lease and the full and complete performance of all of Lessee’s accrued obligations in respect of such Engine at that time, the relevant Deposit or the remaining part thereof shall be repaid to Lessee; and
(v) nothing in Clause 3.2(a) shall create a relationship of trust or any duty of a fiduciary nature between Lessor and Lessee.
PAYMENTS AND SECURITY. 1. All amounts due to Eidotech presented in the offer documents, the Agree- ment or other documents related to the conclusion of the Agreement are expressed in Polish Zlotys, unless Eidotech and the Client agree other- wise in writing. These amounts do not include taxes, travel expenses of Eidotech personnel performing the Agreement that are due or will be due in the future in connection with the Agreement. Taxes, fees, travel costs or similar fees shall be charged by Eidotech if, in accordance with these GTPS, the arrangements of the Parties or in accordance with the law, Eido- tech is obliged or entitled to pay or collect them, and the Client is obliged to pay them.
2. The Client shall be obliged to pay the amounts due in the amount and strona 2 Eidotech Polska Sp. z o.o., siedziba i adres: ul. Świerkowa 3a, 05-816 Michałowice • REGON: 020784990 • NIP: PL8992649267 Tel: +00 00 000 00 00 • Tel/Fax: +00 00 000 00 00 • xxx.xxxxxxxx.xx • e-mail: xxxx@xxxxxxxx.xx within the time limits specified in the Agreement as well as pay invoices issued based thereon.
3. All payments to Eidotech shall be made to the bank account indicated on the invoices. The date of payment shall be the date of crediting Eidotech's bank account.
4. If the Client fails to meet the payment deadline, Eidotech shall have the right to charge maximum interest for each day of a delay.
5. In the event of performing additional work not covered by the Agreement, in particular support or assistance provided remotely for more than [1] hour, service or technical intervention at the Place of Service Provision etc., at the Client's request, Eidotech shall be required to estimate the costs of such services in advance (if possible) and shall have the right to document and invoice such costs to the Client
6. The Client shall be obliged to pay remuneration for the Services regard- less of whether the Services were actually performed in the event that Eidotech was ready to perform the Services, in particular Eidotech staff was present at the Place of Service Provision on the agreed date, and to performance of the Services did not occur for reasons attributable to the Client.
7. Eidotech may require the Client to make an advance payment for the performance of the Services. In this case, Eidotech shall be entitled to postpone the Services until the advance payment has been made.
8. Regardless of the remuneration for the provision of Services and other costs specified in the Agreement or these GTPS, the Clie...
PAYMENTS AND SECURITY. Price and Payment The Maintenance Price is paid in monthly installments, payable in arrears pursuant to Draw Requests submitted on the first day of each month of such Maintenance Term year. The annual Maintenance Price (“MP”) will be escalated or reduced based on changes in the Consumer Price Index (“CPI”) and the Engineering News Record Construction Cost Index (“ENR CCI”). Retainage The Maintenance Contractor shall provide a retainage bond in the amount of 10% of the Maintenance Price, to be used as a guaranty for the protection of any claimants and TxDOT for overpayments, Liquidated Damages, and other deductions or damages owed by the Maintenance Contractor in connection with the COMA. Insurance The Maintenance Contractor is responsible for maintaining insurance meeting TxDOT standards. Additional insurance may be required in the event of any Unplanned Capital Maintenance. Bonds Performance and Payment Bonds are required, each having a term equal or greater to the then-current Maintenance Term. Guaranty TxDOT may, in its discretion based upon the review of the Financial Information provided in the Request for Qualifications (“RFQ”) and Request for Proposals (“RFP”), specify that an acceptable parent company or other affiliate company act as a Guarantor to the Maintenance Contractor by providing a guarantee with respect to the Maintenance Contractor’s financial capabilities in a form acceptable to TxDOT. In addition, the Maintenance Contractor may be required to provide a guaranty if minimum net worth requirements are not met during the term of the COMA.
PAYMENTS AND SECURITY. Section 3.1. Upon issuance of the Certificates, the Area School shall provide the Employer with a schedule showing the payments of the principal and interest on the Certificates, provided that the failure to provide such schedule to the Employer shall in no way diminish the liability of the Employer for the payments provided herein to be made by the Employer. In the event that the new jobs credit from withholding with respect to persons employed at the Project and the incremental property taxes produced by the expansion by the Employer as a part of the Project are insufficient for the payment of each payment of principal and interest on the Certificates on the date when due, the Employer shall make, or cause to be made, payments to the Area School in the amount of any such deficiency not later than the date when such principal and interest are due on the Certificates. In any event, the sum of all payments under this Agreement shall be sufficient to pay the total amount due with respect to such principal of and interest on the Certificates as and when due. The Employer shall not be entitled to any reimbursement for any payments made by it for purposes of paying principal and interest on the Certificates and shall not under any circumstances be entitled to any right of set-off with respect to payments due hereunder.
Section 3.2. The Employer shall make, or cause to be made, all payments required hereunder directly to the Area School at its principal office for application to the payment of the corresponding installments of principal, premium, if any, and interest on the Certificates.
Section 3.3. The obligations of the Employer to make payments shall be absolute and unconditional upon issuance of the Certificates, and the Employer shall make such payments without abatement, diminution or deduction regardless of any cause or circumstances whatsoever including, without limitation, any defense, set-off, recoupment or counterclaim which the Employer may have or assert against the Area School or any other person.
Section 3.4. To secure the payment by the Employer of the payments required hereunder and compliance by the Employer with all the terms, provisions and conditions hereof, the Employer agrees that the new jobs credit from withholding and the incremental property taxes shall be pledged for payment of the principal, premium, if any, and interest on the Certificates as provided by the resolution. The Employer further agrees that the payments required to be m...
PAYMENTS AND SECURITY. Sublessee shall make all payments to Sublessor as and when required under Section 3 hereof. As security for such obligation and for the other covenants of Sublessee hereunder, Sublessee has, on or prior to the Sublease Commencement Date, delivered to Sublessor either (i) a cash security deposit equal $350,000.00 (a “Cash Deposit”) or (ii) a letter of credit in a form reasonably approved by Sublessor in an amount equal to $350,000.00 (a “Letter of Credit”) (the “Security Deposit”)[1]. In the event Sublessee delivers Sublessor a Cash Deposit in accordance with the foregoing, Sublessee may, within one (1) month of the Sublease Commencement Date, provide Sublessor a Letter of Credit, and Sublessor shall return the balance of the Cash Deposit to Sublessee within fourteen (14) days following the receipt of such Letter of Credit. Without limiting Sublessor’s rights to utilize the Security Deposit hereunder, Sublessor shall return the balance to Sublessee within fourteen (14) days following the later of expiration of the Sublease and satisfaction by Sublessee of its obligations hereunder.
PAYMENTS AND SECURITY. This Note shall bear interest at 4.99% per annum, compounded annually. Principal and accrued but unpaid interest (the "Outstanding Amount") shall be payable in full on November 24, 2000 (the "Maturity Date"). This Note may be prepaid by Maker at any time without penalty, and if this Note has been prepaid prior to May 24, 2000, no interest shall have accrued. The Outstanding Amount shall accelerate and be immediately due and payable as follows:
(a) Upon termination of Maker's employment with Odisei S.A. ("Odisei") for any reason or no reason by Maker if S-3 effective or by Odisei.
(b) Upon an Event of Default which has not been cured as provided in Section 2.
PAYMENTS AND SECURITY
