Common use of Refund of Claims Clause in Contracts

Refund of Claims. If, after Executive’s receipt of an amount advanced by the Company pursuant to Section 9.B., Executive becomes entitled to receive any refund with respect to such claim, Executive shall (subject to the Company’s complying with the requirements of Section 9.B.) promptly pay to the Company the amount of such refund (together with any interest paid or credited thereon after taxes applicable thereto). If, after Executive’s receipt of an amount advanced by the Company pursuant to Section 9.B., a determination is made that Executive shall not be entitled to any refund with respect to such claim and the Company does not notify Executive in writing of its intent to contest such denial of refund prior to the expiration of 30 days after such determination, then such advance shall be forgiven and shall not be required to be repaid and the amount of such advance shall offset, to the extent thereof, the amount of Gross-Up Payment required to be paid.

Appears in 9 contracts

Samples: Change in Control Agreement (Mony Group Inc), Change in Control Agreement (Mony Group Inc), Change in Control Agreement (Mony Group Inc)

AutoNDA by SimpleDocs

Refund of Claims. If, after Executive’s 's receipt of an amount advanced by the Company pursuant to Section 9.B.9(B), Executive becomes entitled to receive any refund with respect to such claim, Executive shall (subject to the Company’s 's complying with the requirements of Section 9.B.9(B)) promptly pay to the Company the amount of such refund (together with any interest paid or credited thereon after taxes applicable thereto). If, after Executive’s 's receipt of an amount advanced by the Company pursuant to Section 9.B.9(B)), a determination is made that Executive shall not be entitled to any refund with respect to such claim and the Company does not notify Executive in writing of its intent to contest such denial of refund prior to the expiration of 30 days after such determination, then such advance shall be forgiven and shall not be required to be repaid and the amount of such advance shall offset, to the extent thereof, the amount of Gross-Up Payment required to be paid.

Appears in 1 contract

Samples: Employment Agreement (Advest Group Inc)

Refund of Claims. If, after Executive’s receipt of an amount advanced by the Company pursuant to Section 9.B.9(B), Executive becomes entitled to receive any refund with respect to such claim, Executive shall (subject to the Company’s complying with the requirements of Section 9.B.9(B)) promptly pay to the Company the amount of such refund (together with any interest paid or credited thereon after taxes applicable thereto). If, after Executive’s receipt of an amount advanced by the Company pursuant to Section 9.B.9(B)), a determination is made that Executive shall not be entitled to any refund with respect to such claim and the Company does not notify Executive in writing of its intent to contest such denial of refund prior to the expiration of 30 days after such determination, then such advance shall be forgiven and shall not be required to be repaid and the amount of such advance shall offset, to the extent thereof, the amount of Gross-Up Payment required to be paid.

Appears in 1 contract

Samples: Employment Agreement (Mony Group Inc)

Refund of Claims. If, after Executive’s 's receipt of an amount advanced by the Company pursuant to Section 9.B.6(b), Executive becomes entitled to receive any refund with respect to such claim, Executive shall (subject to the Company’s 's complying with the requirements of Section 9.B.6(b)) promptly pay to the Company the amount of such refund (together with any interest paid or credited thereon after taxes applicable thereto). If, after Executive’s 's receipt of an amount advanced by the Company pursuant to Section 9.B.6(b), a determination is made that Executive shall not be entitled to any refund with respect to such claim and the Company does not notify Executive in writing of its intent to contest such denial of refund prior to the expiration of 30 days after such determination, then such advance shall be forgiven and shall not be required to be repaid and the amount of such advance shall offset, to the extent thereof, the amount of Gross-Up Payment required to be paid.

Appears in 1 contract

Samples: Executive Agreement (Advest Group Inc)

Refund of Claims. If, after Executive’s receipt of an amount advanced by the Company pursuant to Section 9.B.10.B., Executive becomes entitled to receive any refund with respect to such claim, Executive shall (subject to the Company’s complying with the requirements of Section 9.B.10.B.) promptly pay to the Company the amount of such refund (together with any interest paid or credited thereon after taxes applicable thereto). If, after Executive’s receipt of an amount advanced by the Company pursuant to Section 9.B.10.B., a determination is made that Executive shall not be entitled to any refund with respect to such claim and the Company does not notify Executive in writing of its intent to contest such denial of refund prior to the expiration of 30 days after such determination, then such advance shall be forgiven and shall not be required to be repaid and the amount of such advance shall offset, to the extent thereof, the amount of Gross-Up Payment required to be paid.

Appears in 1 contract

Samples: Change in Control Employment Agreement (Mony Group Inc)

AutoNDA by SimpleDocs

Refund of Claims. If, after Executive’s 's receipt of an amount advanced by the Company pursuant to Section 9.B.9(B), Executive becomes entitled to receive any refund with respect to such claim, Executive shall (subject to the Company’s 's complying with the requirements of Section 9.B.9(B)) promptly pay to the Company the amount of such refund (together with any interest paid or credited thereon after taxes applicable thereto). If, after Executive’s 's receipt of an amount advanced by the Company pursuant to Section 9.B.9(B), a determination is made that Executive shall not be entitled to any refund with respect to such claim and the Company does not notify Executive in writing of its intent to contest such denial of refund prior to the expiration of 30 days after such determination, then such advance shall be forgiven and shall not be required to be repaid and the amount of such advance shall offset, to the extent thereof, the amount of Gross-Up Payment required to be paid.to

Appears in 1 contract

Samples: Change in Control Employment Agreement (Advest Group Inc)

Refund of Claims. If, after Executive’s receipt of an amount advanced by the Company pursuant to Section 9.B.9(B), Executive becomes entitled to receive any refund with respect to such claim, Executive shall (subject to the Company’s complying with the requirements of Section 9.B.9(B)) promptly pay to the Company the amount of such refund (together with any interest paid or credited thereon after taxes applicable thereto). If, after Executive’s receipt of an amount advanced by the Company pursuant to Section 9.B.9(B), a determination is made that Executive shall not be entitled to any refund with respect to such claim and the Company does not notify Executive in writing of its intent to contest such denial of refund prior to the expiration of 30 days after such determination, then such advance shall be forgiven and shall not be required to be repaid and the amount of such advance shall offset, to the extent thereof, the amount of Gross-Up Payment required to be paid.

Appears in 1 contract

Samples: Change in Control Agreement (Mony Group Inc)

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!