Payout Period Clause Samples

The Payout Period clause defines the specific timeframe during which payments are to be made under an agreement. Typically, this clause outlines when the first payment is due, the frequency of subsequent payments (such as monthly or quarterly), and the duration over which these payments will continue. By clearly establishing the schedule and duration for payouts, this clause ensures both parties have a mutual understanding of payment expectations, reducing the risk of disputes over timing or missed payments.
Payout Period. 13.1 WHAT IS THE PAYOUT The payout period is the second of the two PERIOD? periods of your contract. The payout period begins on the payout date. It continues until we make the last payment as provided by the income payout option chosen. On the first day of this period, the contract value (adjusted as described below) will be applied to the anticipated income payout option shown on the data page, unless you have selected another option. Income payments will begin as provided under that option. The contract value applied to an income payout option will be adjusted as follows: a.) any applicable surrender charge will be deducted for amounts applied to Option 1 and Option 2B; b.) any applicable premium expense charge will be deducted; c.) any applicable charge for riders will be deducted, if the payout date is not on the contract anniversary; d.) any other applicable adjustments or deductions described in any endorsement attached to your contract will be deducted; and e.) if the payout date is not on the contract anniversary, the annual contract fee will be deducted on a pro-rated basis.
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Payout Period. 15.01 What is the Payout Period? The Payout Period is the period of time that: a.) Begins on the Payout Date; and b.) Continues until we make the last payment as provided by the income option chosen. On the first day of this period, the Contract Value will be applied to the income option you selected. A Surrender Charge and Market Value Adjustment will not apply to proceeds applied to an income option. If you do not select an income option we will make monthly payments on the following basis, unless otherwise required under the IRC: a.) Life Income Option with a 10-Year Guaranteed Period Certain for contracts with one Annuitant; and b.) Joint and Survivor Life Income Option with a 10-Year Guaranteed Period Certain for contracts with two Annuitants. If there is only one Annuitant on the Payout Date and you select Option 3 (the Joint and Survivor Life Income Option described in Section 16.03) or any other available joint and survivor option, you may name a Joint Annuitant upon whose life expectancy, in conjunction with the Annuitant’s, the income payments will be based. 15.02 Can the Annuitant or Owner be changed? You cannot change the Annuitant or Owner on or after the Payout Date for any reason.
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Payout Period. A period of 36 months from the effective date of the termination of Executive's employment with the Company.
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Payout Period. “Payout Period” means the period ending one (1) year from the date the Settlement Checks are first mailed by the Settlement Administrator or up to thirty (30) days thereafter to the extent any replacement or subsequent Settlement Checks remain payable after one (1) year from the date the Settlement Checks are first mailed by the Settlement Administrator.
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Payout Period. The period during which the Net Proceeds are to be applied against the costs is called the “Payout Period”. Charges and expenditures during the Payout Period shall be made in accordance with the provisions in the Accounting Procedure attached hereto as part of Exhibit “D”. Nothing herein, or in said Accounting Procedure, shall be construed as constituting joint operations during said period. Well costs as referenced in Article IV.K., above, will not include FARMEE’S ▇▇▇▇▇ overhead charges or salaries of FARMEE’S employees. Within 90 days after completion of any well provided for herein as a well capable of producing oil and/or gas in paying quantities, FARMEE shall furnish the cumulative costs of drilling, completing, and equipping said well as a producer. Quarterly thereafter during the Payout Period, FARMEE shall furnish reports showing operating expenses, production volumes, and proceeds from the sale of FARMEE’S share of production from the well for the preceding month.
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Payout Period. At all times after the Payout Period Start Date, the Company shall repay the aggregate outstanding principal amount of the Revolving Loans on each Interest Payment Date (commencing on the Interest Payment Date that first occurs following the Payout Period Start Date) in an amount for such installment equal to (i) the aggregate principal amount of Revolving Loans on the Payout Period Start Date multiplied by (ii) the applicable Payout Period Percentage as of such date.
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Payout Period. Section 13
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Payout Period. The phase the contract is in once income payments begin.
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Related to Payout Period

  • Performance Period This Agreement shall be performed during the period which begins Oct 01 2020 and ends Sep 30 2022. All services under this Agreement must be rendered within this performance period, unless directly specified under a written change or extension provisioned under Article 14, which shall be fully executed by both parties to this Agreement.

  • Annual Performance Bonus During the Employment Term, the Executive shall be entitled to participate in the STIP, with such opportunities as may be determined by the Chief Executive Officer in his sole discretion (“Target Bonuses”), and as may be increased (but not decreased, except for across-the-board reductions generally applicable to the Company’s senior executives) from time to time, and the Executive shall be entitled to receive full payment of any award under the STIP, determined pursuant to the STIP (a “Bonus Award”).

  • Annual Incentive Bonus The Company shall, in addition to Executive’s Base Salary, pay Executive an Annual Incentive Bonus, which shall be payable within 120 days of the end of each fiscal year in accordance with the formula set forth on Exhibit A, attached hereto and made a part hereof.

  • Ongoing Performance Measures The Department intends to use performance-reporting tools in order to measure the performance of Contractor(s). These tools will include the Contractor Performance Survey (Exhibit G), to be completed by Customers on a quarterly basis. Such measures will allow the Department to better track Vendor performance through the term of the Contract(s) and ensure that Contractor(s) consistently provide quality services to the State and its Customers. The Department reserves the right to modify the Contractor Performance Survey document and introduce additional performance-reporting tools as they are developed, including online tools (e.g. tools within MFMP or on the Department's website).

  • Annual Bonus Opportunity Your annual target bonus opportunity following the Effective Date will be 50% of your annual base salary (the “Target Bonus”). The Target Bonus shall be subject to review and may be adjusted based upon the Company’s normal performance review practices. Your actual bonuses shall be based upon achievement of performance objectives to be determined by the Board in its sole and absolute discretion. Bonuses will be paid as soon as practicable after the Board determines that such bonuses have been earned, but in no event will a bonus be paid to you after the later of (i) the fifteenth (15th) day of the third (3rd) month following the close of the Company’s fiscal year in which such bonus is earned or (ii) March 15 following the calendar year in which such bonus is earned.