Common use of Repayment of Advance from Refund Clause in Contracts

Repayment of Advance from Refund. If, after the receipt by -------------------------------- Executive of an amount advanced by SPI pursuant to paragraph 7.3, Executive becomes entitled to receive any refund with respect to such claim, Executive shall (subject to SPI's complying with the requirements of paragraph 7.3) promptly pay to SPI the amount of such refund (together with any interest paid or credited on the amount of the refund after taxes applicable to such interest). If, after the receipt by Executive of an amount advanced by SPI pursuant to paragraph 7.3 a determination is made that Executive shall not be entitled to any refund with respect to such claim and SPI does not notify Executive in writing within 30 days after such determination of its intent to contest such denial of refund, then any obligation of Executive to repay such advance shall be forgiven and the amount of such advance shall offset the amount of Gross-Up Underpayment required to be paid.

Appears in 3 contracts

Samples: Severance Agreement (Sizeler Property Investors Inc), Severance Agreement (Sizeler Property Investors Inc), Severance Agreement (Sizeler Property Investors Inc)

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Repayment of Advance from Refund. If, after the receipt by -------------------------------- Executive of an amount advanced by SPI pursuant to paragraph 7.3, Executive becomes entitled to receive any refund with respect to such claim, Executive shall (subject to SPI's complying with the requirements of paragraph 7.3) promptly pay to SPI the amount of such refund (together with any interest paid or credited on the amount of the refund after taxes applicable to such interest). If, after the receipt by Executive of an amount advanced by SPI pursuant to paragraph 7.3 a determination is made that Executive shall not be entitled to any refund with respect to such claim and SPI does not notify Executive in writing within 30 days after such determination of its intent to contest such denial of refund, then any obligation of Executive to repay such advance shall be forgiven and the amount of such advance shall offset the amount of Gross-Up Underpayment required to be paid.

Appears in 2 contracts

Samples: Severance Agreement (Sizeler Property Investors Inc), Severance Agreement (Sizeler Property Investors Inc)

Repayment of Advance from Refund. If, after the -------------------------------- receipt by -------------------------------- Executive of an amount advanced by SPI pursuant to paragraph 7.3, Executive becomes entitled to receive any refund with respect to such claim, Executive shall (subject to SPI's complying with the requirements of paragraph 7.3) promptly pay to SPI the amount of such refund (together with any interest paid or credited on the amount of the refund after taxes applicable to such interest). If, after the receipt by Executive of an amount advanced by SPI pursuant to paragraph 7.3 a determination is made that Executive shall not be entitled to any refund with respect to such claim and SPI does not notify Executive in writing within 30 days after such determination of its intent to contest such denial of refund, then any obligation of Executive to repay such advance shall be forgiven and the amount of such advance shall offset the amount of Gross-Up Underpayment required to be paid.

Appears in 1 contract

Samples: Severance Agreement (Sizeler Property Investors Inc)

Repayment of Advance from Refund. If, after the receipt by -------------------------------- Executive of an amount advanced by SPI pursuant to paragraph Section 7.3, Executive becomes entitled to receive any refund with respect to such claim, Executive shall (subject to SPI's complying with the requirements of paragraph Section 7.3) promptly pay to SPI the amount of such refund (together with any interest paid or credited on the amount of the refund after taxes applicable to such interest). If, after the receipt by Executive of an amount advanced by SPI pursuant to paragraph Section 7.3 a determination is made that Executive shall not be entitled to any refund with respect to such claim and SPI does not notify Executive in writing within 30 days after such determination of its intent to contest such denial of refund, then any obligation of Executive to repay such advance shall be forgiven and the amount of such advance shall offset the amount of Gross-Up Underpayment required to be paid.

Appears in 1 contract

Samples: Nonelective Deferred Compensation Agreement (Sizeler Property Investors Inc)

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Repayment of Advance from Refund. If, after the receipt by -------------------------------- Executive of an amount advanced by SPI pursuant to paragraph 7.36.3, Executive becomes entitled to receive any refund with respect to such claim, Executive shall (subject to SPI's complying with the requirements of paragraph 7.36.3) promptly pay to SPI the amount of such refund (together with any interest paid or credited on the amount of the refund after taxes applicable to such interest). If, after the receipt by Executive of an amount advanced by SPI pursuant to paragraph 7.3 6.3 a determination is made that Executive shall not be entitled to any refund with respect to such claim and SPI does not notify Executive in writing within 30 days after such determination of its intent to contest such denial of refund, then any obligation of Executive to repay such advance shall be forgiven and the amount of such advance shall offset the amount of Gross-Gross Up Underpayment required to be paid.

Appears in 1 contract

Samples: Change in Control Agreement (Sizeler Property Investors Inc)

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