Repayment on Termination. 4.1 If the Province terminates this Contract for any reason before the Participant has completed Postgraduate Medical Education and the Return of Service Term (including due to the Participant breaching the Return of Service or other obligations under the Contract), the Participant must pay the Repayment Amount to the Province.
4.2 The Repayment Amount is the amount set out in column in the table below that corresponds to the timing of the Participant’s breach of the Contract that gives rise to termination of the Contract: Timing of breach (e.g. under Section 9.1)
Repayment on Termination. 10 6.4 Payments Under Security Trust Deed.........................10 6.5
Repayment on Termination. Initial here
4.1 In the event that this Contract is terminated for any reason before the Participant has completed the Return of Service in full, the Participant will pay the Province the corresponding sum set out in the table below (the “Repayment Amount”), plus any interest incurred on that amount from the date the Participant first signed this Contract.
4.2 The interest referred to in Article 4.1 will be at the prime rate as it is announced from time to time by the Canadian Imperial Bank of Commerce on Canadian dollar commercial loans.
4.3 The Parties agree that the Repayment Amount is a reasonable pre- estimation of the damages that the Province will suffer in the event that the Contract is terminated before the Participant has completed the Return of Service in full, recognizing that:
(a) it will cost the Province approximately $8,000 to administer the Participant’s placement in the community;
(b) it will cost the Province at least $70,000 to fund the Participant’s placement in the Practice Ready Assessment-BC Program;
(c) a replacement Participant will be required for the Return of Service community in the event the Participant does not complete the Return of Service, in which case it will cost the Province at least $78,000 to administer that replacement and to fund the replacement’s Practice Ready Assessment-BC Program enrolment;
(d) it takes approximately one year to fill a family practice vacancy in an average community of need in British Columbia, and can take much longer in some communities. There will be added costs for the Province to ensure that comparable services are provided in the Return of Service community during this time period, and such costs are difficult to quantify;
(e) by completing the Practice Ready Assessment-BC Program, the Participant will become eligible to practice medicine in British Columbia, and to xxxx the Medical Services Plan (MSP) for the provision of health services. If the Participant does not complete the Return of Service in the identified Return of Service Community, the Participant will be in breach of this Agreement. Any health services that the Participant provides elsewhere in British Columbia in breach this Agreement, including any MSP xxxxxxxx in relation to those health services, will give rise to further damages, costs and expenses to the government, flowing from the Participant’s breach of this Agreement. The Province has calculated that, in the 2013-2014 fiscal year, the average annual MSP xxxxxxxx fo...
Repayment on Termination. 4.1 In the event that this Contract is terminated for any reason before the Participant has completed Postgraduate Medical Education and the Return of Service Term (including due to the Participant breaching the Return of Service or other obligations under the Contract), the Participant must pay to the Province the Repayment Amount.
4.2 The Repayment Amount is the amount set out in column in the table below that corresponds to the timing of the breach of the Contract by the Participant that gives rise to termination of the Contract: Timing of Breach (as per Section 9.1): Repayment Amount: A Upon signature of this Contract until the start of the Participant’s first day of Residency. Explanation Estimate of one-year cost of Postgraduate Medical Education, plus Compound Interest. $125,000 plus Compound Interest, calculated starting on the first day of Residency B Between the Participant’s first day of Residency and the last day of the Participant’s Year 1 of Residency. Explanation Estimate of two-years costs of Postgraduate Medical Education, plus Compound Interest. $250,000 plus Compound Interest for $125,000 of the $250,000, calculated starting on the first day of Year 1 of Residency plus Compound Interest for the remaining $125,000, calculated starting on the first day of Year 2 of Residency C Between the Participant’s first day of Year 2 of Residency and the last day of the Participant’s Year 2 of Residency. Explanation Estimate of three-years costs of Postgraduate Medical Education, plus Compound Interest. $375,000 plus Compound Interest for $125,000 of the $375,000, calculated starting on the first day of Year 1 of Residency plus Compound Interest for $125,000 of the $375,000, calculated starting on the first day of Year 2 of Residency plus Compound Interest for the remaining $125,000, calculated starting on the first day of Year 3 of Residency D Between the first day of the Participant’s Year 3 of Residency and completion of Return of Service in full. Up to $804,000 plus Compound Interest for $125,000 of the $804,000, Initial here Explanation Estimate of three-years costs or four-years costs as applicable of Postgraduate Medical Education as determined by the University of British Columbia, plus Compound Interest. Starting in the final year of Re-entry Residency, the Repayment Amount also includes liquidated damages associated with Participant’s breach of the Contract, plus Compound Interest. The Repayment Amount is not pro-rated based on partial compl...
Repayment on Termination. Notwithstanding clause 6.1, on the Distribution Date immediately following the Termination Date (or if the Termination Date is on a Distribution Date, then on that Distribution Date), the Trustee will pay or repay so much of the aggregate of all Advances together with interest accrued thereon and all other money, the payment or repayment of which forms part of the Obligations, as is available for this purpose in accordance with the Series Supplement. If all amounts due in accordance with this clause 6.3 are not paid or repaid in full on the Distribution Date in accordance with the foregoing, on each succeeding Distribution Date the Trustee will pay or repay so much of such amounts as there are funds available for this purpose in accordance with the Series Supplement until such amounts are paid or repaid in full.
Repayment on Termination. (a) Subject to clause 5.2, if this Community Housing Assistance Agreement is terminated for any reason, the Provider must repay to the Housing Agency part or all of the Funding together with part or all of the surplus and interest earned on that Funding.
Repayment on Termination. Notwithstanding clause 6.1, on the Distribution Date immediately following the Termination Date, the Trustee will pay or repay so much of the aggregate of all Standby Redraw Facility Principal together with interest accrued thereon and all other money, the payment or repayment of which forms part of the Obligations, as is available for this purpose in accordance with the Series Supplement. If all amounts due in accordance with this clause 6.3 are not paid or repaid in full on the Distribution Date immediately following the Termination Date, on each succeeding Distribution Date the Trustee will pay or repay so much of such amounts as is available for this purpose in accordance with the Series Supplement until such amounts are paid or repaid in full.
Repayment on Termination. Notwithstanding clause 6.1, on the Quarterly Distribution Date immediately following the Termination Date (or if the Termination Date is on a Quarterly Distribution Date, then on that Quarterly Distribution Date), the Trustee will pay or repay so much of the aggregate of all Advances together with interest accrued thereon and all other money, the payment or repayment of which forms part of the Obligations, as is available for this purpose in accordance with the Series Supplement. If all amounts due in accordance with this clause 6.3 are not paid or repaid in full on the Quarterly Distribution Date in accordance with the foregoing, on each succeeding Quarterly Distribution Date the Trustee will pay or repay so much of such amounts as there are funds available for this purpose in accordance with the Series Supplement until such amounts are paid or repaid in full.
Repayment on Termination. Notwithstanding clause 6.1 and subject to the terms of the Security Trust Deed, on the Monthly Payment Date immediately following the Redraw Facility Termination Date, the Borrower must pay or repay so much of the Redraw Facility Principal together with interest accrued on the Redraw Facility Principal and all other money, the payment or repayment of which forms part of the Obligations, as is available for this purpose in accordance with the Sub-Fund Notice. If all amounts due in accordance with this clause 6.3 are not paid or repaid in full on the Monthly Payment Date immediately following the Redraw Facility Termination Date, on each succeeding Monthly Payment Date the Borrower must pay or repay so much of such amounts as there are funds available for this purpose in accordance with the Sub-Fund Notice until such amounts are paid or repaid in full.
Repayment on Termination. In the event that the Agreement is terminated for any reason, or in the event that funds are maintained in Client’s Funding Balance beyond the maximum ninety (90) day period permitted above, AFEX may convert funds that are held in Client’s Funding Balance into Client’s base currency at the then-prevailing exchange rate(s) and return such funds to Client. In the event that the Agreement is terminated for any reason, AFEX may convert funds that are held for Client as Safeguarded Funds into Client’s base currency at the then prevailing exchange rate(s) and return such funds to Client.
