Reductions in Payments Sample Clauses

Reductions in Payments. With respect to payments under this chapter for a vessel covered by an operating agreement, the Secretary— (1) except as provided in paragraph (2), shall not reduce any payment for the operation of the vessel to carry military or other pref- erence cargoes under section 55302(a), 55304, 55305, or 55314 of this title, section 2631 of title 10, or any other cargo preference law of the United States; (2) shall not make any payment for any day that the vessel is engaged in transporting more than 7,500 tons of civilian bulk pref- erence cargoes pursuant to section 55302(a), 55305, or 55314 of this title that is bulk cargo; and (3) shall make a pro rata reduction in pay- ment for each day less than 320 in a fiscal year that the vessel is not operated in accordance with section 53105(a)(1), with days during which the vessel is drydocked or undergoing survey, inspection, or repair considered to be days on which the vessel is operated.
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Reductions in Payments. Should Contractor non-conformance of performance result in Department expenses or liquidated damages, the Department shall be entitled to offset those expenses from the amount due the Contractor.
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Reductions in Payments. With respect to payments under this chapter for a vessel covered by an operating agreement, the Secretary— (1) except as provided in paragraph (2), shall not reduce any payment for the operation of the vessel to carry military or other pref- erence cargoes under section 55302(a), 55304, 55305, or 55314 of this title, section 2631 of title 10, or any other cargo preference law of the United States; 1 So in original. The comma probably should not appear. (2) shall not make any payment for any day that the vessel is engaged in transporting more than 7,500 tons of civilian bulk pref- erence cargoes pursuant to section 55302(a), 55305, or 55314 of this title that is bulk cargo; and (3) shall make a pro rata reduction in pay- ment for each day less than 320 in a fiscal year that the vessel is not operated in accordance with section 53105(a)(1), with days during which the vessel is drydocked or undergoing survey, inspection, or repair considered to be days on which the vessel is operated.
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Reductions in Payments. Notwithstanding any other provisions of this Agreement, if any payment or benefit received or to be received by Rivers, including any payment or benefit received in connection with a Change of Control, Closing or the termination of Rivers' employment from the Company, whether pursuant to the terms of this Agreement or any other plan, arrangement or agreement (collectively “Total Payments") would be subject in whole or part to the excise tax (“Excise Tax") imposed under Section 4999 of the Code, then the cash portions of the Total Payments shall first be reduced, and the non-cash portions of the Total Payments shall thereafter be reduced, to the extent necessary so that no portion of the Total Payments is subject to the Excise Tax, but only if the net amount of such Total Payments, as so reduced (and after subtracting the net amount of federal, state and local income taxes on such reduced Total Payments, and after taking into account the phase out of itemized deductions and personal exemptions attributable to such reduced Total Payments) is greater than or equal to the net amount of such Total Payments without such reduction (but after subtracting the net amount of federal, state and local income taxes on such Total Payments and the amount of Excise Tax to which Rivers would be subject in respect of such unreduced Total Payments and after taking into account the phase out of itemized deductions and personal exemptions attributable to such unreduced Total Payments). The Company reserves the right to determine the manner in which the reduction provisions of this Section 5 are to be applied. Rivers shall be responsible for any Excise Tax, as well as all other federal, state and local taxes relating to the Total Payments.
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Reductions in Payments. To the extent a reduction is required under this Section 7, the Company shall reduce or eliminate payments in accordance with this Section 7 and in a manner consistent with Section 409A of the Code. Any reduction in payments shall occur first with respect to awards that are not subject to Section 409A in the following order: (a) reduction of cash payments, beginning with payments scheduled for the latest distribution date; (b) reduction of vesting acceleration of equity awards; and (c) reduction of other benefits paid or provided to Executive. If after the reduction to zero of the payments described in the preceding sentence, further reductions are required under this Section 7, the Company shall reduce all payments subject to Section 409A of the Code on a pro-rata basis (but not below zero). This Section 7 shall take precedence over the provisions of any other plan, arrangement or agreement governing Executive’s rights and entitlement to any payments or benefits.
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Reductions in Payments. With respect to payments under this chapter for a vessel covered by an operating agreement, the Secretary— (1) except as provided in paragraph (2), shall not reduce any payment for the operation of the vessel to carry military or other pref- erence cargoes under section 2631 of title 10, United States Code, the Act of March 26, 1934 (46 U.S.C. App. 1241–1), section 901(a), 901(b), or 901b of the Merchant Marine Act, 1936 (46 U.S.C. App. 1241(a), 1241(b), or 1241f), or any other cargo preference law of the United States; (2) shall not make any payment for any day that the vessel is engaged in transporting more than 7,500 tons of civilian bulk pref- erence cargoes pursuant to section 901(a), 901(b), or 901b of the Merchant Marine Act, 1936 (46 U.S.C. App. 1241(a), 1241(b), or 1241f), that is bulk cargo; and (3) shall make a pro rata reduction in pay- ment for each day less than 320 in a fiscal year that the vessel is not operated in accordance with section 53105(a)(1), with days during which the vessel is drydocked or undergoing survey, inspection, or repair considered to be days on which the vessel is operated.
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Reductions in Payments. Notwithstanding any other provision of this Agreement or any other plan, arrangement or agreement to the contrary, if any of the payments or benefits provided or to be provided by the Company to Executive or for Executive’s benefit pursuant to the terms of this Agreement or otherwise (“Payments”) constitute parachute payments (“Parachute Payments”) within the meaning of Section 280G would, but for this Section 3.1, be subject to the excise tax imposed under Section 4999 of the Code (or any successor provision thereto) or any similar tax imposed by state or local law or any interest or penalties with respect to such taxes (collectively, the “Excise Tax”), then prior to making any such Payments, a calculation shall be made comparing (a) the Net Benefit to Executive of such Payments after payment of the Excise Tax to (b) the Net Benefit to Executive if such Payments were limited to the extent necessary to avoid being subject to the Excise Tax. If the Net Benefit determined pursuant to subsection (a) would be less than the Net Benefit determined pursuant to subsection (b), then the Payments will be reduced to the minimum extent necessary to ensure that no portion of the Payments is subject to the Excise Tax (that amount, the “Reduced Payment”).
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Related to Reductions in Payments

  • ALL-IN PAYMENTS It is agreed all-in payments breach the award and this Agreement. All-in payments to employees will not be made. Where it is alleged all-in payments are being made, the provisions of the VBIA shall apply.

  • Certain Payments Without the prior consent of the Dealer Manager, none of the Company, the Advisor or any of their respective affiliates will make any payment (cash or non-cash) to any associated Person or registered representative of the Dealer Manager.

  • Default in Payment Any payment not made within ten (10) business days after it is due in accordance with this Agreement shall thereafter bear interest, compounded annually, at the prime rate in effect from time to time at Citibank, N.A., or any successor thereto. Such interest shall be payable at the same time as the corresponding payment is payable.

  • CALL-IN PAY 14.01 An employee who is called in to work outside their regularly scheduled hours shall be paid a minimum of four (4) hours pay at their applicable rate whenever there is a break between the employee's regularly scheduled hours and the work the employee is called to perform.

  • Default in Payment of Principal of Loans and Reimbursement Obligations The Borrower shall default in any payment of principal of any Loan or Reimbursement Obligation when and as due (whether at maturity, by reason of acceleration or otherwise).

  • Delay in Payment Notwithstanding anything else to the contrary in this Agreement, the BEP, or any other plan, contract, program or otherwise, the Company (and its affiliates) are expressly authorized to delay any scheduled payments under this Agreement, the BEP, and any other plan, contract, program or otherwise, as such payments relate to the Executive, if the Company (or its affiliate) determines that such delay is necessary in order to comply with the requirements of Section 409A of the Internal Revenue Code. No such payment may be delayed beyond the date that is six (6) months following the Executive’s separation from service (as defined in Section 409A). At the end of such period of delay, the Executive will be paid the delayed payment amounts, plus interest for the period of any such delay. For purposes of the preceding sentence, interest shall be calculated using the six (6) month Treasury Xxxx rate in effect on the date on which the payment is delayed, and shall be compounded daily. If the conditions of the severance exception under Treasury Regulation Section 1.409A-1(b)(9)(iii) (or any successor Regulation thereto) are satisfied, payment of benefits shall not be delayed for six (6) months following termination of employment to the extent permitted under the severance exception.

  • Conversions in Part Subject to the terms of this Indenture, Notes may be converted in part, but only in Authorized Denominations. Provisions of this Article 5 applying to the conversion of a Note in whole will equally apply to conversions of a permitted portion of a Note.

  • Report-In Pay An employee who reports to work on a regularly scheduled workday without previous notice not to report shall receive a minimum of four (4) hours work or four (4) hours pay in lieu thereof at the applicable hourly rate.

  • Distributions in Kind Except as expressly provided herein, no right is given to any Partner to demand and receive property other than cash. The General Partner may determine, in its sole and absolute discretion, to make a distribution in-kind to the Partners of Partnership assets, and such assets shall be distributed in such a fashion as to ensure that the fair market value is distributed and allocated in accordance with Articles 5, 6 and 10.

  • Remittances Generally All payments by any Lender to Agent shall be made by the time and on the day set forth in this Agreement, in immediately available funds. If no time for payment is specified or if payment is due on demand by Agent and request for payment is made by Agent by 11:00 a.m. on a Business Day, payment shall be made by Lender not later than 2:00 p.m. on such day, and if request is made after 11:00 a.m., then payment shall be made by 11:00 a.m. on the next Business Day. Payment by Agent to any Lender shall be made by wire transfer, in the type of funds received by Agent. Any such payment shall be subject to Agent’s right of offset for any amounts due from such Lender under the Loan Documents.

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