Preliminary Payment if eligible, the Insured can receive a preliminary payment.
i. A Preliminary Payment takes the Insured’s reported production without grade loss and adds 20 percent to it to mitigate the risk of overpayments.
ii. AFSC then calculates the difference between the estimated production and Coverage, and pays the preliminary payment based on the estimated Production Loss.
iii. Once the post harvest claim is finalized, AFSC recalculates the Production Loss based on the Harvested Production determined during the on-farm inspection, and the Insured will receive the remaining Indemnity including any grade loss. If there is an overpayment due to differences between the Insured’s information reported on the HPR, and the Harvested Production determined during the post harvest inspection, repayment will be required within 30 days of notification. The advance Indemnity must exceed a minimum amount, can be deferred, and will be applied to amounts owing to AFSC and assignments.
Preliminary Payment if eligible, the Insured can receive a preliminary payment.
1) A Preliminary Payment takes the Insured’s reported production without Quality Loss and adds 20 percent to mitigate the risk of overpayments.
2) AFSC then calculates the difference between the estimated production and Coverage, and pays the preliminary payment based on the estimated Production Loss.
3) Once the post harvest claim is finalized, AFSC recalculates the Production Loss based on the Harvested Production determined during the on-farm inspection, and the Insured will receive the remaining Indemnity including any Quality Loss.
Preliminary Payment. Buyer shall have received the Preliminary Payment as provided in Section 3.3(a);
Preliminary Payment. Subject to the terms and conditions hereof, at the Closing, Seller shall wire transfer to Purchaser immediately available funds equal to: (i) the sum of (A) the amount of the Assumed Deposits (including accrued and unpaid interest thereon) reflected on the preliminary closing statement and (B) the amount of all accrued and unpaid expenses reflected as a liability on the preliminary closing statement; LESS (ii) an amount equal to the sum of: (A) twelve and fifteen hundredths percent (12.15%) of the Assumed Deposits based on a 30-day average prior to Closing; (B) the amount of cash on hand at the Branches as of the Closing; (C) the sum of $192,000, representing the Agreed Value of all furniture, fixtures, and equipment constituting part of the Assets; (D) the Agreed Value of the Owned Real Estate and the Leased Real Estate; (E) the amount of all prepaid expenses of Seller as reflected as an asset on the preliminary closing statement; (F) the Net Book Value of all Loans, plus accrued and unpaid interest thereon as reflected on the preliminary closing statement; and (G) the amount of estimated sales taxes, if any, to be paid by Purchaser in connection with the transaction contemplated hereby. (North Central Ohio)
Preliminary Payment. If a Tax case is still open, but the Tax payment has to be made before the Tax has become finally binding (formell und materiell bestandskräftig), the indemnification payment of the Seller shall be treated as an advance indemnification payment to the Purchaser. If a lower Tax than already indemnified is assessed, the difference shall be reimbursed by the Purchaser to the Seller not later than ten (10) Business Days after the difference has been refunded by the Tax authorities (including by way of set-off, deduction or consumption). The Purchaser shall, and shall procure that the Acquired Company or respective Subsidiary will promptly notify the Seller in writing about such lower tax assessment or Tax refunds or benefits. The Seller shall be entitled to have, at the Seller’s own expense, a certified accounting firm review whether the Purchaser has fully complied with its notification obligation.
Preliminary Payment. Within three business days of the execution of this Term Sheet, Investor shall pay, in cash by wire transfer of immediately available funds to an account designated in writing by the Company, $500,000 (the “Preliminary Payment”).
Preliminary Payment. The term "Preliminary Payment" shall have the meaning set forth in Section 4.1.
Preliminary Payment. Subject to the terms and conditions hereof, by no later than 12:00 p.m. on the Closing Date, Seller shall wire transfer to Purchaser immediately available funds equal to: (i) the sum of (A) the amount of the Assumed Deposits (including accrued and unpaid interest thereon) reflected on the preliminary closing statement; (B) the amount of all accrued and unpaid expenses reflected as a liability on the preliminary closing statement; and (C) the aggregate of all prepaid safe deposit rental payments prorated to the Effective Time; less (ii) an amount equal to the sum of: (A) 12.07% of the Assumed Deposits based upon an estimated 30-day average prior September 12, 1997; (B) the amount of cash on hand at the Branches as reflected on the preliminary closing statement; (C) the sum of $125,000, representing the Agreed Value of all furniture, fixtures, and equipment constituting part of the Assets; (D) the Agreed Value of the Owned Real Estate and the Leased Real Estate; (E) the amount of all prepaid expenses of Seller as reflected as an asset on the preliminary closing statement; (F) the Net Book Value of all Loans, plus accrued and unpaid interest thereon as reflected on the preliminary closing statement; and (G) the amount of estimated sales taxes, if any, to be paid by Purchaser in connection with the transaction contemplated hereby.
Preliminary Payment. 8 2.7. Proration Amount...............................................10 2.8. Allocation of Base Purchase Price and Deposit..................13 2.9.
Preliminary Payment. 2.6.1. If the Closing for the Stations shall not have occurred prior to such date which is nine (9) months after the date of this Agreement and Buyer shall not have paid to Seller on or prior to such date the amount of Twenty-Six Million Dollars ($26,000,000) (the "Preliminary Payment") pursuant to Section 2.6.3 below, then (a) if the Deposit Release Date shall have occurred, Seller shall immediately receive the Allocable Deposit, (b) Seller shall sell the Stations for Seller's account and benefit on terms and conditions to such buyer or buyers as determined by Seller in its sole and absolute discretion (such a sale is hereinafter referred to as a "Makewell Sale"), and (c) Seller's obligations hereunder to proceed with the sale of the Stations to Buyer shall automatically terminate without further action by the parties. Seller agrees to use commercially reasonable efforts to consummate such Makewell Sale on arm's length terms within four (4) years after the date hereof. If the issuance of the FCC Orders for the Stations is delayed until after the date which is nine (9) months after the date of this Agreement solely due to any issue raised by the FCC or any petitioner concerning any Subject Party, then Seller's right to sell the Stations in a Makewell Sale pursuant to Section 2.6.1 and to receive the Allocable Deposit pursuant to this Section 2.6.1 shall be delayed until the issuance of the FCC Orders for the Stations. In the event of such a delay, if the FCC Application with respect to the Stations shall ultimately be denied by the FCC and such FCC decision shall become final and non-appealable, then Buyer shall have the right to terminate the transactions contemplated herein with respect to the Stations and, if the Deposit Release Date shall have occurred, then Buyer shall receive the Allocable Deposit or, if later, when the Deposit Release Date occurs. If the Closing shall not have occurred on or prior to such date which is nine (9) months after the date of this Agreement due solely to an intentional breach by Seller which caused the conditions set forth in Section 9.2 not to be satisfied, then Seller's right to sell the Stations in a Makewell Sale pursuant to Section 2.6.1 and to receive the Allocable Deposit pursuant to Section 2.6.1 shall be delayed until such breach is cured by Seller.
2.6.2. At the closing of a Makewell Sale pursuant to Section 2.6.1 (the "Makewell Closing"), Seller shall receive all proceeds from such Makewell Sale, and Buyer shall...
