Pre-payment Option. 1. Any Settling Distributor shall have the right, subject to the limitations set forth in Section IV.J.3, to prepay any base payment or incentive payment in whole or in part, without premium or penalty (a “Settlement Prepayment”) by providing at least fourteen (14) calendar days prior written notice to the Settlement Fund Administrator and Enforcement Committee (a “Prepayment Notice”). Any Prepayment Notice shall specify: (a) the gross amount of the Settlement Prepayment (the “Gross Settlement Amount”), (b) the manner in which such Settlement Prepayment shall be applied to reduce such Settling Distributor’s future share of Annual Payments (i.e., to which future year(s) the allocable portion of an Annual Payment owed by such Settling Distributor the Settlement Prepayment should be applied) (such manner of application, a “Settlement Prepayment Reduction Schedule”), (c) the net present value of the Settlement Prepayment as of the Prepayment Date based on the Settlement Prepayment Reduction Schedule using a discount rate equal to the prime rate as published by the Wall Street Journal on the date of the Prepayment Notice plus 1.75% (such net present value amount, the “Net Settlement Prepayment Amount”), and (d) the date on which the prepayment will be made, which shall be no more than fifteen (15) calendar days after the date of the Prepayment Notice (the “Prepayment Date”).
2. On the Prepayment Date the Settling Distributor shall pay the Net Settlement Prepayment Amount to the Settlement Fund and such amount shall be used only as specified in Section V. Following such payment, all future portions of the Annual Payments allocated to the applicable Settling Distributor under Section IV.
Pre-payment Option. A teacher may request prepayment for Courses which have been approved by the District. Monies advanced to the teacher shall be considered advanced under a loan agreement. If a teacher fails to attend a conference, workshop or seminar that has been paid in advance, or fails to satisfactorily complete a course that has been paid in advance, the teacher must reimburse the District for those costs. Reimbursement to the District is due within sixty (60) calendar days of such notification. The teacher shall not be eligible for further professional development funds under this Article until such time payment is made in full.
Pre-payment Option. The Company may at any time and from time to time, upon written notice (“Prepayment Notice”) under Section 10 below, prepay part or all of the outstanding Notes without penalty. In the event that Maker sends a Prepayment Notice to Payee, Payee may elect within 10 days following the receipt of such notice to convert into common stock of ICC WORLDWIDE, INC. (“ICC WORLDWIDE, INC. Common Stock”), pursuant to Section 5 hereof, all or part of the amount of principal to be repaid by the proposed Prepayment instead of receiving such prepayment.
Pre-payment Option. Notwithstanding the foregoing, the Parties agree that Masimo Cayman has the option, without penalty, to pre-pay the Royalties, in whole or in part, during the term of this Agreement. Any prepayment amount shall be nonrefundable and shall reduce the net present value of the total payments due under Section 4.
1. Future Royalty Payments shall be reduced accordingly, provided however, that the net present value of the total Royalty Payments due under Section 4.1 will be subject to the periodic adjustment of Royalties, as provided in Section 4.3.
Pre-payment Option. Lessee may choose to pre-pay the entire Initial Term of the Lease and receive a discounted price upon execution of the Lease. Lessee may also elect, at any time in the future, to prepay any remaining balance of the Annual Payments due under the Initial Term, or any Renewal Term, of this Agreement by sending a written notification to City. Within ten (10) business days of receipt of such notice, City shall respond by sending Lessee an invoice for the net present value of the remaining Annual Payments, which net present value shall be determined by discounting the sum of the remaining future payments due under the Initial Term or the Renewal Term, as applicable, of this Agreement by fifteen percent (15%) per year. The amount due shall reflect the annual price per fiber mile prevailing at the time of prepayment. Lessee shall pay such invoice within thirty (30) days of receipt thereof, or shall forfeit the election to prepay the remainder of the Initial Term or the applicable Renewal Term. Any Lessee electing to pre-pay the Lease shall be required to pay a Maintenance Fee as set forth in paragraph 3.5 Below.
Pre-payment Option. Subject to customary equity conditions, the Company may at any time, upon 30 days written notice, prepay all of the outstanding Notes on a pro-rata basis at 110% of the outstanding principal balance only after the note has amortized 1 year. In the event that Maker sends a Prepayment Notice to Lender, Lender may elect prior to the Prepayment Date to convert into common stock of TeknoCreations, Inc. (“TeknoCreations, Inc. Common Stock”), pursuant to Section 5 hereof, all or part of the amount of principal to be repaid by the proposed Prepayment instead of receiving such prepayment.
Pre-payment Option. (1) During the first quarter of each calendar year of the term of the Installment Period outlined in section II(a) above, but no later than March 31st of each such quarter (the "Election Date"), at the sole option of the Company, it may elect and must inform Executive in writing of its intention to pay Executive the Severance Amount due for the then current year, either on the quarterly installment basis or as a single annual installment for the entire calendar year, provided however, that this option to prepay is subject to the Average Closing Price of the common stock of HealthAxis Inc. for the 20 consecutive trading days immediately preceding such Election Date being at or above $4.25 per share. In the event the Company elects to prepay as a single annual installment for the entire calendar year, the Company shall pay such amount pursuant to Section II(c) above.
(2) Notwithstanding the provisions in II(f)(1) above, at any time during the Installment Period, but subject to the $4.25 price floor described in II(f)(1) above, the Company may elect to discharge all (or such portion as may be discharged using the balance of the shares remaining from the Aggregate Share Limit), or any part greater than that required to be discharged as at that Quarterly Payment Date, of its responsibilities under this Agreement by pre-paying Executive all or such portion of the outstanding Severance Amount herein using any such number of the remaining shares within the Aggregate Share Limit valued at the Average Closing Price for the Trading Period immediately prior to such election. [For example: if the remaining compensation due Executive were $1,000,000, and the Average Closing Price of HealthAxis Inc. common stock for any immediately preceding consecutive 20 trading days was $10 per share, then subject to share availability under the Aggregate Share Limit, the Company could opt to pay off Executive by issuing 100,000 shares as full and final payment of its obligations herein.] Nothing in this Section shall limit the Executive's right to receive cash in lieu of shares of stock as provided in section III(b) herein.
Pre-payment Option. The Patties agree that Insmed Ireland has the option, without penalty, to pre-pay the PCT Payments, in whole or in part, during the term of this Agreement, but in no event prior to 2016. Any pre-payment amount shall reduce the net present value of the outstanding payments still remaining under Section 3.1 (Compensation). Upon such pre payment. if any, the net present value of the outstanding future PCT Payments shall be calculated using a discount rate that is reflective of the then current risk associated with the forecasted Bookings. Upon such pre-payment, the Parties will mutually develop a new schedule for payment of the remaining amounts due, if any, under this Agreement.
Pre-payment Option. Subject to customary equity conditions, the Company may at any time, upon 30 days written notice, prepay all of the outstanding Notes on a pro-rata basis at 110% of the outstanding principal plus interest balance.
Pre-payment Option. 1. Any Settling Distributor shall have the right, subject to the limitations set forth in Section V.I.3, to prepay any base payment or incentive payment in whole or in part, without premium or penalty (a “Settlement Prepayment”) by providing at least fourteen
