We use cookies on our site to analyze traffic, enhance your experience, and provide you with tailored content.

For more information visit our privacy policy.

Payments to Xx Sample Clauses

Payments to Xx. XXXXXX: The Company agrees to pay Xx. Xxxxxx the following sums of money by delivery of such payments to counsel for Xx. Xxxxxx: (1) The Company agrees to pay Xx. Xxxxxx all accrued, unpaid base salary, less applicable withholdings required by law, until and including August 21, 2002. This payment will be made to Xx. Xxxxxx upon execution of this Agreement. (2) The Company agrees to pay Xx. Xxxxxx the total amount of $26,314.18 less applicable withholdings required by law, for all accrued, unused vacation. This payment will be made to Xx. Xxxxxx upon execution of this Agreement. (3) The Company agrees to pay Xx. Xxxxxx the total amount of $195,000.00, less applicable withholdings required by law, for 90 days of base salary. This payment will be made to Xx. Xxxxxx 8 days after execution of this Agreement, assuming no revocation or breach of this Agreement by Xx. Xxxxxx. (4) The Company agrees to pay Xx. Xxxxxx the total amount of $50,000.00 for premiums on life insurance policies, as determined to be appropriate by Xx. Xxxxxx in his sole discretion. This payment will be made to Xx. Xxxxxx upon execution of this Agreement. (5) The Company agrees to pay Xx. Xxxxxx the total amount of $25,000.00 for executive recruiting assistance, as determined to be appropriate by Xx. Xxxxxx in his sole discretion. This payment will be made to Xx. Xxxxxx upon execution of this Agreement. (6) The Company agrees to pay to counsel for Xx. Xxxxxx the total amount of $30,713.51 for reasonable legal fees incurred by Xx. Xxxxxx in connection with this Agreement. This payment is earmarked for counsel to Xx. Xxxxxx and will be delivered upon execution of this Agreement. (7) The Company agrees to pay Xx. Xxxxxx the total amount of $24,000.00 per month for 5 months - on January 1, 2003, February 1, 2003, March 1, 2003, April 1, 2003, and May 1, 2003. These payments will be made to Xx. Xxxxxx on the dates specified, assuming no revocation of this Agreement by Xx. Xxxxxx. However, these payments are subject to offset in accordance with paragraph 1(l) of this Agreement, above.
Payments to Xx. Xxxxxx 2.1 Except as otherwise provided in Section 2.2 below, in full settlement of any and all claims by Xx. Xxxxxx against Bally Gaming and in payment of the consulting services to be provided by Xx. Xxxxxx under this Agreement, Bally Gaming shall pay Xx. Xxxxxx a total sum of $400,000.00, payable in monthly installments of $8,333.33, commencing on August 1, 2006 and continuing on the first day of the month thereafter during the Consulting Period. Xx. Xxxxxx shall be responsible for all taxes associated with these payments that are assessed on him, including but not limited to federal and state income taxes, and agrees to indemnify Bally Gaming for any such tax assessments that are paid on his behalf by Bally Gaming. 2.2 In the event Xx. Xxxxxx breaches this Agreement, which shall include but is not limited to circumstances wherein Xx. Xxxxxx voluntarily fails to provide consulting services to Bally Gaming during the Consulting Period without good cause, and Xx. Xxxxxx fails to cure any such breach within 30 days of written notice from Bally Gaming, Bally Gaming may discontinue monthly payments made to Xx. Xxxxxx. Discontinuance of payments as a result of Xx. Xxxxxx’x uncured breach of this Agreement, shall not alter Xx. Xxxxxx’x obligations set forth in Sections 1.1.3 and 1.1.4 for the then-remaining term of the Consulting Period, nor shall it alter or otherwise be construed as a revocation of the partiesmutual releases of claims set forth in Section 3. 2.3 As a result of the parties agreement on the payments made to Xx. Xxxxxx under this Agreement, Bally Gaming will not pay Xx. Xxxxxx for any accrued and unused vacation time earned up to the Separation Date and Xx. Xxxxxx shall not seek recovery of any such payments for vacation time. 2.4 As of the Separation Date, Xx. Xxxxxx shall not be eligible for the following benefits: a) Short-Term Disability; b) Long-Term Disability; c) Basic Life; d) Accidental Death & Dismemberment; or e) Dependent Life Insurance. As of the Separation Date, Xx. Xxxxxx is not and will not be eligible to contribute to the 401k plan offered to Bally Gaming employees. 2.5 Bally Gaming will pay Xx. Xxxxxx’x employer-premium portion of COBRA coverage during the Consulting Period as long as Xx. Xxxxxx remains eligible for COBRA coverage.
Payments to Xx. Xxxxxxx X. Hartnett not to exceed those set forth in that certain Employment Agreement, dated December 18, 2000, by and between Borrower and Xx. Xxxxxxx X. Hartnett, as in effect on the Closing Date and (i) payments and distributions with respect to Zero Coupon Debt and Senior Subordinated Notes permitted in accordance with SECTION 6.3(a)(vii); and PROVIDED that no Event of Default has occurred and is continuing or would result after giving effect to any Restricted Payment pursuant to CLAUSE (e) above.
Payments to Xx. Xxxxxx. Any checks, stock certificates or other payments or transmittals to Xx. Xxxxxx required by this Agreement shall be sent to him at the address indicated in Paragraph 26(b) above or to such other address that he may provide USCC or TDS in writing.
Payments to Xx. Xxxxxxx: The Company agrees to pay Xx. Xxxxxxx the following sums of money by delivery of such payments to Xx. Xxxxxxx via mail at his current home address as found in his personal file: (1) The Company agrees to pay Xx. Xxxxxxx his monthly salary of Fifteen Thousands Five Hundred Dollars ($15,500.00) per month, less applicable withholdings required by law, for twelve (12) months following his execution of this Agreement. These payments shall be made once each month on or before the last day of each month. (2) The Company agrees to pay Xx. Xxxxxxx for all accrued, unused vacation (13 days) less applicable withholdings required by law. This payment will be made to Xx. Xxxxxxx upon execution of this Agreement. (3) The Company agrees to pay Xx. Xxxxxxx the amount of Twelve Thousand Dollars ($12,000.00) to cover outplacement services. (4) The Company agrees to make monthly payments for Xx. Xxxxxxx’x COBRA medical benefits coverage (including family members presently enrolled, as applicable under the Company’s current insurance), subject to payment of required deductibles and copays for a period of twelve (12) months after execution of this Agreement, assuming no breach of this Agreement by Xx. Xxxxxxx. After twelve (12) months, Xx. Xxxxxxx shall be solely responsible for the costs associated with continuing health insurance coverage under COBRA. Terms of these medical benefits will continue to be governed by the applicable plans. Should Xx. Xxxxxxx find new employment that provides like benefits before the end of such twelve (12) month period, the Company’s obligation to continue payments for such benefits or COBRA medical benefits coverage will cease. (5) The Company agrees to pay Xx. Xxxxxxx a prorated bonus pursuant to the Management Incentive Bonus Plan for the year ending December 31, 2003, subject to any applicable withholding for taxes if, as and when paid to the other eligible executives of the Company. (6) The Company agrees to make all remaining payments on the Toyota Sequoia currently used by Xx. Xxxxxxx and transfer title of such vehicle to Xx. Xxxxxxx. All other expenses associated with ownership and operation of the vehicle shall be the responsibility of Xx. Xxxxxxx.
Payments to Xx. XxXxxxxxx: The Company will pay Xx. XxXxxxxxx the following amounts, by delivery of Company checks to Xx. XxXxxxxxx: (1) All accrued, unpaid base salary, less applicable withholdings required by law, through the Effective Date. This payment will be made to Xx. XxXxxxxxx on either the first usual and customary employee-pay date of the Company after the Effective Date or the first business day of the Company after the expiration of the Revocation Period, whichever is later. (2) All reimbursable amounts for reimbursable expenses incurred before the Effective Date, as required by Section 3.3 of the Employment Agreement. This payment will be made to Xx. XxXxxxxxx within 10 business days after all conditions to reimbursement, in accordance with the Company’s policies and procedures, are satisfied. (3) $1,000, less amounts withheld for applicable federal taxes. This payment will be made to Xx. XxXxxxxxx within 10 business days after the expiration of the Revocation Period.

Related to Payments to Xx

  • Payments to Owner Section 4.01 Remittances...................................................29 Section 4.02 Statements to Owner...........................................29 Section 4.03 Monthly Advances by Servicer..................................30 Section 4.04 Due Dates Other Than the First of the Month...................30 ARTICLE V

  • Payments to Agent A payment by the Borrower to the Agent hereunder or any of the other Loan Documents for the account of any Bank shall constitute a payment to such Bank. The Agent agrees promptly to distribute to each Bank such Bank's pro rata share of payments received by the Agent for the account of the Banks except as otherwise expressly provided herein or in any of the other Loan Documents.

  • Payments to Company Except as provided in Section 3 hereof, after the Trust has become irrevocable, Company shall have no right or power to direct Trustee to return to Company or to divert to others any of the Trust assets before all payment of benefits have been made to Plan participants and their beneficiaries pursuant to the terms of the Plan.

  • Payments to Recipients The Distributor is authorized under the Plan to pay Recipients (1) distribution assistance fees for rendering distribution assistance in connection with the sale of Shares and/or (2) service fees for rendering administrative support services with respect to Accounts. However, no such payments shall be made to any Recipient for any period in which its Qualified Holdings do not equal or exceed, at the end of such period, the minimum amount (“Minimum Qualified Holdings”), if any, that may be set from time to time by a majority of the Independent Trustees. All fee payments made by the Distributor hereunder are subject to reduction or chargeback so that the aggregate service fee payments and Advance Service Fee Payments do not exceed the limits on payments to Recipients that are, or may be, imposed by the FINRA Rules. The Distributor may make Plan payments to any “affiliated person” (as defined in the 0000 Xxx) of the Distributor if such affiliated person qualifies as a Recipient or retain such payments if the Distributor qualifies as a Recipient.

  • Adjustments to Fees Notwithstanding any of the fee limitations set forth in this Article 6, commencing upon the expiration of the first year of this Agreement, and upon the expiration of each year thereafter during the Term, the then-­‐current fees set forth in Section 6.1 and Section 6.3 may be adjusted, at ICANN’s discretion, by a percentage equal to the percentage change, if any, in (i) the Consumer Price Index for All Urban Consumers, U.S. City Average (1982-­‐1984 = 100) published by the United States Department of Labor, Bureau of Labor Statistics, or any successor index (the “CPI”) for the month which is one (1) month prior to the commencement of the applicable year, over (ii) the CPI published for the month which is one (1) month prior to the commencement of the immediately prior year. In the event of any such increase, ICANN shall provide notice to Registry Operator specifying the amount of such adjustment. Any fee adjustment under this Section 6.5 shall be effective as of the first day of the first calendar quarter following at least thirty (30) days after ICANN’s delivery to Registry Operator of such fee adjustment notice.

  • Payments to Holders No payment shall be made with respect to the principal of, or premium, if any, or interest on the Securities (including, but not limited to, the redemption price with respect to the Securities to be called for redemption in accordance with Article III as provided in the Indenture), except payments and distributions made by the Trustee as permitted by the first or second paragraph of Section 12.5, if: (i) a default in the payment of principal, premium, interest or other obligations due on any Senior Indebtedness occurs and is continuing (or, in the case of Senior Indebtedness for which there is a period of grace, in the event of such a default that continues beyond the period of grace, if any, specified in the instrument or lease evidencing such Senior Indebtedness), unless and until such default shall have been cured or waived or shall have ceased to exist; or (ii) a default, other than a payment default, on a Designated Senior Indebtedness occurs and is continuing that then permits holders of such Designated Senior Indebtedness to accelerate its maturity and the Trustee receives a notice of the default (a "Payment Blockage Notice") from a Representative or the Company. If the Trustee receives any Payment Blockage Notice pursuant to clause (ii) above, no subsequent Payment Blockage Notice shall be effective for purposes of this Section 12.1 unless and until (A) at least 365 days shall have elapsed since the initial effectiveness of the immediately prior Payment Blockage Notice, and (B) all scheduled payments of principal, premium, if any, and interest on the Securities that have come due have been paid in full in cash. No nonpayment default that existed or was continuing on the date of delivery of any Payment Blockage Notice to the Trustee shall be, or be made, the basis for a subsequent Payment Blockage Notice. The Company may and shall resume payments on and distributions in respect of the Securities upon the earlier of: (1) the date upon which the default is cured or waived or ceases to exist, or (2) in the case of a default referred to in clause (ii) above, 179 days after notice is received if the maturity of such Designated Senior Indebtedness has not been accelerated, unless this Article XII otherwise prohibits the payment or distribution at the time of such payment or distribution. Upon any payment by the Company, or distribution of assets of the Company of any kind or character, whether in cash, property or securities, to creditors upon any dissolution or winding-up or liquidation or reorganization of the Company, whether voluntary or involuntary or in bankruptcy, insolvency, receivership or other proceedings, all amounts due or to become due upon all Senior Indebtedness shall first be paid in full in cash or other payment satisfactory to the holders of such Senior Indebtedness, or payment thereof in accordance with its terms provided for in cash or other payment satisfactory to the holders of such Senior Indebtedness, before any payment is made on account of the principal of, premium, if any, or interest on the Securities (except payments made pursuant to Article VI from monies deposited with the Trustee pursuant thereto prior to commencement of proceedings for such dissolution, winding-up, liquidation or reorganization); and upon any such dissolution or winding-up or liquidation or reorganization of the Company or bankruptcy, insolvency, receivership or other proceeding, any payment by the Company, or distribution of assets of the Company of any kind or character, whether in cash, property or securities, to which the Holders of the Securities or the Trustee would be entitled, except for the provision of this Article XII, shall (except as aforesaid) be paid by the Company or by any receiver, trustee in bankruptcy, liquidating trustee, agent or other Person making such payment or distribution, or by the Holders of the Securities or by the Trustee under this Indenture if received by them or it, directly to the holders of Senior Indebtedness (pro rata to such holders on the basis of the respective amounts of Senior Indebtedness held by such holders, or as otherwise required by law or a court order) or their representative or representatives, or to the trustee or trustees under any indenture pursuant to which any instruments evidencing any Senior Indebtedness may have been issued, as their respective interests may appear, to the extent necessary to pay all Senior Indebtedness in full, in cash or other payment satisfactory to the holders of such Senior Indebtedness, after giving effect to any concurrent payment or distribution to or for the holders of Senior Indebtedness, before any payment or distribution or provision therefor is made to the Holders of the Securities or to the Trustee. For purposes of this Article XII, the words, "cash, property or securities" shall not be deemed to include shares of stock of the Company as reorganized or readjusted, or securities of the Company or any other corporation provided for by a plan of reorganization or readjustment, the payment of which is subordinated at least to the extent provided in this Article XII with respect to the Securities to the payment of all Senior Indebtedness which may at the time be outstanding; provided that (i) the Senior Indebtedness is assumed by the new corporation, if any, resulting from any reorganization or readjustment, and (ii) the rights of the holders of Senior Indebtedness (other than leases which are not assumed by the Company or the new corporation, as the case may be) are not, without the consent of such holders, altered by such reorganization or readjustment. The consolidation of the Company with, or the merger of the Company into, another corporation or the liquidation or dissolution of the Company following the conveyance or transfer of its property as an entirety, or substantially as an entirety, to another corporation upon the terms and conditions provided for in Article V shall not be deemed a dissolution, winding-up, liquidation or reorganization for the purposes of this Section 12.2 if such other corporation shall, as a part of such consolidation, merger, conveyance or transfer, comply with the conditions stated in Article V. In the event of the acceleration of the Securities because of an Event of Default, no payment or distribution shall be made to the Trustee or any Holder of Securities in respect of the principal of, premium, if any, or interest on the Securities (including, but not limited to, the redemption price with respect to the Securities called for redemption in accordance with Article III as provided in the Indenture), except payments and distributions made by the Trustee as permitted by the first or second paragraph of Section 12.5, until all Senior Indebtedness has been paid in full in cash or other payment satisfactory to the holders of Senior Indebtedness or such acceleration is rescinded in accordance with the terms of this Indenture. If payment of the Securities is accelerated because of an Event of Default, the Company shall promptly notify holders of Senior Indebtedness of the acceleration. In the event that, notwithstanding the foregoing provisions, any payment or distribution of assets of the Company of any kind or character, whether in cash, property or securities (including, without limitation, by way of setoff or otherwise), prohibited by the foregoing, shall be received by the Trustee or the Holders of the Securities before all Senior Indebtedness is paid in full in cash or other payment satisfactory to the holders of such Senior Indebtedness, or provision is made for such payment thereof in accordance with its terms in cash or other payment satisfactory to the holders of such Senior Indebtedness, such payment or distribution shall be held in trust for the benefit of and shall be paid over or delivered to the holders of Senior Indebtedness or their representative or representatives, or to the trustee or trustees under any indenture pursuant to which any instruments evidencing any Senior Indebtedness may have been issued, as their respective interests may appear, as calculated by the Company, for application to the payment of all Senior Indebtedness remaining unpaid to the extent necessary to pay all Senior Indebtedness in full in cash or other payment satisfactory to the holders of such Senior Indebtedness, after giving effect to any concurrent payment or distribution to or for the holders of such Senior Indebtedness. Nothing in this Section 12.2 shall apply to claims of, or payments to, the Trustee under or pursuant to Section 7.7. This Section 12.2 shall be subject to the further provisions of Section 12.5.

  • Adjustments to Payments (a) If any payment or benefit Executive would receive pursuant to this Agreement or otherwise, including accelerated vesting of any equity compensation (all such payments and/or benefits hereinafter, “Payment”), would (i) constitute a “parachute payment” within the meaning of Section 280G of the Code, and (ii) but for this sentence, be subject to the excise tax imposed by Section 4999 of the Code (the “Excise Tax”), then such Payment shall be either (x) provided to the Executive in full, or (y) provided to the Executive to such lesser extent which would result in no portion of such Payment being subject to the excise tax, further reduced by $5,000 (including such further reduction, the “Cutback Amount”), whichever of the foregoing amounts, when taking into account applicable federal, state, local and foreign income and employment taxes, such excise tax and other applicable taxes, (all computed at the highest applicable marginal rates), results in the receipt by the Executive, on an after-tax basis, of the greatest amount of the Payment, notwithstanding that all or a portion of such Payment may be subject to the excise tax. If a reduction in payments or benefits constituting “parachute payments” is necessary so that the Payment equals the Cutback Amount, reduction shall occur in the following order: (A) cash payments shall be reduced first and in reverse chronological order such that the cash payment owed on the latest date following the occurrence of the event triggering such excise tax will be the first cash payment to be reduced; (B) accelerated vesting of performance-based equity awards shall be cancelled or reduced next and in the reverse order of the date of grant for such awards (i.e., the vesting of the most recently granted awards will be reduced first), with full-value awards reduced before any performance-based stock option or stock appreciation rights are reduced; (C) health and welfare benefits shall be reduced and in reverse chronological order such that the benefit owed on the latest date following the occurrence of the event triggering such excise tax will be the first benefit to be reduced; and (D) accelerated vesting of time-based equity awards shall be cancelled or reduced last and in the reverse order of the date of grant for such awards (i.e., the vesting of the most recently granted awards will be reduced first), with full-value awards reduced before any time-based stock option or stock appreciation rights are reduced. (b) The Company shall appoint a nationally recognized accounting firm to make the determinations required hereunder and perform the foregoing calculations. The Company shall bear all expenses with respect to the determinations by such accounting firm required to be made hereunder. The accounting firm engaged to make the determinations hereunder shall provide its calculations, together with detailed supporting documentation, to the Company and Executive within fifteen (15) calendar days after the date on which right to a Payment is triggered (if requested at that time by the Company or Executive). Any good faith determinations of the accounting firm made hereunder shall be final, binding and conclusive upon the Company and Executive.

  • Payments to the Agent On each date on which an Obligor or a Lender is required to make a payment under a Finance Document, that Obligor or Lender shall make the same available to the Agent (unless a contrary indication appears in a Finance Document) for value on the due date at the time and in such funds specified by the Agent as being customary at the time for settlement of transactions in the relevant currency in the place of payment.

  • PAYMENTS TO PURCHASER 52 ARTICLE VI....................................................................54

  • Payments to the Company Except as provided in Sections 3, 8, and 14 hereof, the Company shall have no right or power to direct the Trustee to return to the Company or to divert to others any of the Trust assets before all payment of benefits have been made to Participants and their Beneficiaries pursuant to the terms of the Arrangements.