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Right of Payment Sample Clauses

Right of PaymentThe Notes shall be senior secured obligations of the Issuer and each Guaranty shall be the senior secured obligation of the applicable Guarantor. The Notes and the Existing Senior Secured Notes shall rank pari passu in right of payment, and the Guaranty of the Notes by each Guarantor shall rank pari passu with the "Guaranty" (as such term is defined in the Purchase Agreement) of the Existing Senior Secured Notes by such Guarantor.
Right of Payment. If Consultant becomes unable to perform services ----------------- pursuant to this Agreement by reason of illness, incapacity or death, compensation shall cease upon the happening of the event. Otherwise, the shares rendered as payment are deemed to be earned by the Consultant and forthcoming by the Corporation immediately upon the execution of this Agreement. Further, the Corporation acknowledges and waives all rights to contest the issuance of shares at any point after the execution of this Agreement by the parties hereto.
Right of PaymentCommon Shareholder who complies with the provisions of this Agreement shall, in addition to any other rights it may have, have the right, on or after the Transaction Date, to be paid by Lifeco in cash an amount equal to the fair value of its CLFC Common Shares. Such fair value shall be determined as of the close of business on the day before the Transaction Resolution was adopted and shall be expressed as a cash amount for each such CLFC Common Share.
Right of PaymentThe Collateral Trustee's right to payment of the Obligations arising in any way (including, but not limited to, under a negotiable instrument or another contract with the Chargor) does not merge with the Chargor’s undertaking to pay the Obligations under this deed.
Right of Payment. For so long as any Promissory Note is outstanding, if the Company: (a) enters into any financing transaction, the Company shall make a prepayment of amounts owed under the Promissory Notes, unless waived by the Investor, in an amount equal to 20% of the net proceeds of such financing transaction; and (b) receives any disbursement(s) pursuant to the transactions contemplated in the FPA, the Company shall make a prepayment of amounts owed under the Promissory Notes, unless waived by the Investor, in an amount equal to 100% of the net proceeds that the Company receives from any such disbursements pursuant to the FPA, with such amounts first being applied to the next Installment Amount due under such Promissory Note(s) and any remaining amounts from such disbursement(s), if any, applied to the last Installment Amount due under such Promissory Note(s). For the avoidance of doubt, any prepayment made in accordance with this Section 7.26 shall not be subject to the conditions of an Optional Redemption (as defined in the Promissory Notes) and shall not incur any Redemption Premium (as defined in the Promissory Notes).
Right of Payment. Notwithstanding any limitations on the ability of Bondholders to direct the actions of the Trustee hereunder, and notwithstanding any other provisions of this Guaranty, the holder of any Bond shall have the right, which is absolute and unconditional, to receive payment of the principal of, premium (if any) and interest on such Bond on the respective maturity date expressed in such Bond and such right shall not be impaired without the consent of such Holder.
Right of PaymentThe Trustees have the right to pay benefits to any other organization or person, as needed, to carry out the provisions of the Plan. The Trustees may pay for or provide services or equipment that they deem to be Medically Necessary, but not otherwise covered by the Plan, if in their sole discretion, they conclude that paying for or providing such services or equipment would be financially beneficial to the Plan. This action is not deemed to be an amendment to the Plan nor does it establish a precedent, nor will it obligate such actions in the case of any subsequent claim. The Trustees may, but are not required to, delegate to their administrative manager the authority to authorize such payments on a uniform application.

Related to Right of Payment

  • Application of Payment The monthly housing assistance payment shall be credited against the monthly rent to owner for the contract unit.

  • Limitation of Payments City’s obligation to pay the Consultant for services rendered pursuant to this Contract is conditioned upon the availability of City’s funds which are allocated to pay the Consultant. If funds are not allocated and available to pay the Consultant for these services, City may terminate this Contract at the end of the period for which the funds are available. City shall notify the Consultant at the earliest possible time if this agreement will or may be affected by a shortage of funds. No liability shall accrue to City in the event this provision is exercised, and the City shall not be obligated or liable for any future payments due or for any damages as a result of termination under this section. This provision shall not be construed so as to permit City to terminate this Contract in order to acquire similar services from another party. The Consultant shall be paid for any allowable services provided and expenses incurred prior to receipt of any such notification that City was terminating the Contract because of a shortage of funds.

  • MODE OF PAYMENT Subject to the terms of the Agreement and the Promoter abiding by the construction milestones, the Allottee shall make all payments, on demand by the Promoter, within the stipulated time as mentioned in the Payment Plan through A/c Payee Cheque / Demand Draft or Online Payment (as applicable) in favour of ' ' payable at .

  • Timing of Payment Notwithstanding anything herein to the contrary, if the date on which any payment is to be made pursuant to this Indenture or the Notes is not a Business Day, the payment otherwise payable on such date shall be payable on the next succeeding Business Day with the same force and effect as if made on such scheduled date and (provided such payment is made on such succeeding Business Day) no interest shall accrue on the amount of such payment from and after such scheduled date to the time of such payment on such next succeeding Business Day and the amount of any such payment that is an interest payment will reflect accrual only through the original payment date and not through the next succeeding Business Day.