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Payoff Sample Clauses

Payoff. The Prepetition First Lien Notes Payoff shall have occurred (or shall occur substantially contemporaneously with the Closing Date).
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Payoff. The Administrative Agent shall have received a payoff letter from PNC Bank, National Association, as administrative agent under the Existing Credit Agreement, reasonably satisfactory in form and substance to the Administrative Agent evidencing that the Existing Credit Agreement has been or concurrently with the Closing Date is being terminated, all obligations thereunder are being paid in full (other than the Existing Letters of Credit).
Payoff. Upon the termination of employment, and after thirteen (13) pay periods of employment, an employee shall be entitled to a lump sum payment for any unused or accrued vacation time, as of the date of termination.
Payoff. The following provisions establish the methods for application of sick leave benefits in conjunction with other benefits: 9.5.1 In no case shall the combined effect of sick leave and/or other benefits be applied so that compensation exceeds the employee’s normal rate of pay. 9.5.2 An employee who is collecting Worker’s Compensation temporary occupational disability benefits may draw sufficient sick leave benefits from his/her disability benefits,
Payoff. Unless Accentia takes advantage of the Restructure Opportunity described in Section 9 below, all Obligations that remain outstanding after the sums payable pursuant to Section 4(c) above are paid, including the Deferred Obligations, plus accrued and unpaid interest as provided herein, together with any fees, costs and expenses incurred by McKesson in connection with the Obligations, plus any other indebtedness owed by Accentia to McKesson (or to any affiliate of McKesson), other than in connection with the Biologics Distribution Agreement, shall be paid in full on or before the “Full Payment Deadlinedefined above (unless and to the extent McKesson converts any portion of the Obligations to equity, which McKesson may elect to do in its sole and absolute discretion on terms no less favorable than the proposed Series E financing that Accentia expected to obtain in 2003, all as more particularly set forth in Section 25 of the Assumption Agreement). The payment obligations under the Biologics Distribution Agreement shall be paid as and when provided in the Biologics Distribution Agreements, subject to acceleration upon the occurrence of a default thereunder or an Event of Default under the Assumption Agreement (as amended from time to time in writing and signed by McKesson).
PayoffUnused sick leave may not be converted to cash payment, except that upon termination or retirement after five (5) years of continuous service, qualified employees shall be compensated for fifty percent (50%) of their unused sick leave (within the four hundred eighty [480] hour limit) at the rate of pay at termination.
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Payoff. The prorated balance of all annual leave will be paid to employees upon discharge, termination, or resignation. Upon discharge, termination, resignation, or retirement, unused hours of annual leave, if any, are paid off in full as a contribution by the University to a 403(b) special pay plan account established on the employee’s behalf (415 (m) if applicable), to the extent allowable by plan provisions. (See Appendix E: Special Pay Plan definition.)
Payoff. In the event of termination of employment, regardless of the reason, the employee's comp time bank shall be settled as provided under the FLSA.
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