Payments to Tenant. All payments required to be made by Landlord to Tenant hereunder shall be payable to Tenant at the address set forth above, or at such other address within the continental United States as Tenant may specify from time to time by written notice delivered in accordance herewith.
Payments to Tenant. Tenant acknowledges that City cannot make any payments to Tenant unless Tenant is qualified as an approved vendor in City’s financial and payment system. Therefore, City will not be in default of any monetary obligation to Tenant if City is required to make a payment to Tenant but Tenant is not an approved vendor with City. More information about being an approved vendor is available at xxxxx://xxxxxxxxxxxxx.xxxxx.xxx/Vendor/BecomeSupplier.
Payments to Tenant. On the date that Tenant delivers the Formal Withdrawal pursuant to Section 2 above, Tenant will become irrevocably due the following amounts on the following dates (it being understood that such amounts represent the agreed-upon annual values of the Projected Total Credit as of the date of this Agreement): Date Amount January 1, 2015 $534,462.00 January 1, 2016 $534,462.00 January 1, 2017 $400,846.00 January 1, 2018 $400,846.00 January 1, 2019 $267,231.00 January 1, 2020 $267,231.00 For purposes of administrative ease, the parties agree that each such payment will be credited to Tenant’s account as of January 1 of each applicable year, and used to offset or reduce Basic Monthly Rent owed by Tenant until such credit is depleted; provided that, if for any reason all or any portion of an annual payment amount has not been fully credited to Tenant by March 1 of any applicable year, then Tenant reserves the right to require Landlord to make direct payment of any remaining portion of the annual credit on five (5) business days written notice from Tenant. Landlord acknowledges and agrees that the payment obligations in this Section 4 (as may be adjusted pursuant to Section 5), will survive termination of the Lease except where such termination is based on the Tenant’s default under the Lease.
Payments to Tenant. (a) Not later than thirty (30) days after satisfaction by Tenant of all of the conditions to the payment of the Allowance set forth in Section II of Exhibit C to the Lease, including, without limitation, delivery to Landlord of a requisition for the Allowance accompanied by all of the items listed in said section (the “Disbursement Conditions”), Landlord shall direct Escrow Agent in writing to disburse to Tenant so much of the Allowance as is due and payable under the Lease (the “Allowance Payment”). Landlord shall provide a copy of such disbursement notice to Tenant concurrently with sending the same to Escrow Agent. If Landlord fails to direct Escrow Agent to disburse the Allowance Payment within the time period set forth above, then Tenant shall have the right to provide notice of such failure (a “Payment Failure Notice”) to Landlord and to Escrow Agent. The Payment Failure Notice shall include (i) a demand for payment of the Allowance Payment stating the amount thereof, and (ii) substantially the following provision in bold face and in all capital letters at the top thereof: “PAYMENT FAILURE NOTICE: IF LANDLORD FAILS, WITHIN FIVE (5) DAYS AFTER RECEIPT OF THIS NOTICE, EITHER (A) TO MAKE PAYMENT OF THE ALLOWANCE PAYMENT OR (B) TO PROVIDE A LANDLORD’S DISPUTE NOTICE TO ESCROW AGENT AND TENANT, THEN ESCROW AGENT SHALL DISBURSE TO TENANT AN AMOUNT EQUAL TO THE SUM OF THE ALLOWANCE PAYMENT SET FORTH BELOW.” If Landlord does not, within five (5) days after receipt of such Payment Failure Notice, (i) make the payment in question (and Escrow Agent shall be entitled to rely on any certification from an officer of Tenant stating that the payment was not made within such period, a copy of which certification shall be delivered to Landlord concurrently with delivery of the same to Escrow Agent), or (ii) provide Tenant and Escrow Agent with a Landlord’s Dispute Notice, Escrow Agent shall disburse to Tenant the Allowance Payment. For purposes of this Agreement, a “
Payments to Tenant. Upon compliance with the foregoing provisions of Section 17.3(a), the Town, out of the Insurance Proceeds, shall pay or cause to be paid to Tenant or to the persons named in the certificate the respective amounts stated therein to have been paid by Tenant or to be due to them, as the case may be. All sums so paid to Tenant and any other Insurance Proceeds received or collected by or for the account of Tenant (other than by way of reimbursement to Tenant for sums previously paid by Xxxxxx or sums paid directly to by an insurer to Tenant as coverage for business interruption) shall be held by Tenant in trust for the purpose of paying the cost of such work. Upon receipt by the Town of evidence satisfactory to it of the character required by Section 17.3(a) that the Restoration Work has been completed and paid for in full and that there are no liens of the character referred to therein, and if no Event of Default exists, the Town shall pay to Tenant any remaining balance of the Insurance Proceeds.
