Second Period. If a Sworn employee is unable to return to work during the first period, his/her seniority shall continue to accrue for an additional twelve
Second Period. For the next 12 Month period immediately following the first period referred to above, the Price per MCM of Gas delivered under this Contract shall be US$32.00 (thirty two US dollars).
Second Period. (i) During the Second Period, the interest rate on the Loan shall be 3% per annum, if the Lender has determined that during the Second Period at least 1600 Employees were employed.
(ii) During the Second Period, the interest on the Loan shall be 4% per annum, if the Lender has determined that during the Second Period on average at least 1550 but not more than 1599 Employees were employed.
(iii) During the Second Period, the interest rate on the Loan shall be 5% per annum, if the Lender has determined that during the Second Period on average at least 1500 but not more than 1549 Employees were employed.
(iv) During the Second Period, the interest rate on the Loan shall be 6% per annum, if the Lender has determined that during the Second Period on average at least 1450 but not more than 1499 Employees were employed.
(v) During the Second Period, the interest rate on the Loan shall be 8% per annum, if the Lender has determined that during the Second Period on average at least 1400 but not more than 1449 Employees were employed.
Second Period. During the period April 1, 2015 through March 31, 2016 (“Second Period”), Executive shall be prepared to devote, on average, 20 to 30 hours per month to Consulting Services hereunder and shall be paid a total of Sixty-Six Thousand Seven Hundred and Fifty Dollars ($66,750). This amount shall be paid one-twelfth (1/12) at the end of each month of the Second Period for twelve (12) months.
Second Period. December 01 to March 01 , inclusive , inclusive
Second Period. After the Initial Period for the remaining Term of this Agreement ("Second Period"), the Employee shall devote by telephone such time and attention to the business of the Company as requested by the Board, CEO and/or President. Employee also shall participate in special Company projects from time to time as requested by the Board, CEO and/or President provided employee and the Company can mutually agree upon Employee's compensation for such participation.
Second Period. The benchmark for the second period (the “Second Period”) shall be Five Million Three Hundred Thousand Dollars ($5,300,000) pre-tax income earned between the conclusion of the First Period and the date that is six (6) months after such date; provided that in the event that Sway falls short of this projection it will have an automatic additional thirty (30) days to comply, otherwise the terms of’ this Section shall apply. The number of Escrow Shares to be released from escrow and distributed shall be determined as follows: the numerator shall he actual pre-tax income earned by Sway determined consistent with the terms of this Section multiplied by the number of Escrow Shares less the number of shares distributed in the First Release and the denominator of Five Million Three Hundred Thousand ($5,300,000) Dollars (“Second Release”). In no event shall the Second Release be greater than the total number of Escrow Shares less the number of shares distributed in the First Release. Escrow Shares shall be distributed within thirty (30) days following the conclusion of the First Period and the Second Period. Further, in the event that Cornerworld should sell all or substantially all of the business or the assets of Sway prior to the Second Release, or Sway or Cornerworld should otherwise undergo a change in control, then Cornerworld will distribute the balance of all the Escrow Shares not yet distributed.
Second Period. During the Second Period, if Metuchen receives: (i) confirmation from the FDA of Orphan Drug status for the Product for Peyronie’s Disease, and (ii) written confirmation by HYBRID with acknowledgement by its counterpart contracting part(ies) of termination of any and all licenses, permission, or other agreements involving the Products (which may occur through execution of an Amendment providing for a full and final termination, without cause, on reasonable notice, of the agreement between Custom RX, LLC and HYBRID in a form mutually acceptable to HYBRID and Metuchen), then Metuchen will pay to HYBRID the non-refundable, non-creditable amount of Eight Hundred Thousand Dollars ($800,000.00) within seven (7) days after receipt of such confirmation. If Metuchen does not receive confirmation from the FDA of Orphan Drug status for the Product for Peyronie’s Disease as of the end of the Second Period, then Metuchen will have the right, exercisable for a period of seven (7) days thereafter, (the “Termination Period”) to terminate this Agreement immediately with no further obligations by either party to the other. In the event that METUCHEN has not exercised its right of termination within the Termination Period, then METUCHEN will pay to HYBRID the non-refundable, non-creditable amount of Eight Hundred Thousand Dollars ($800,000.00) within three (3) days after the end of the Termination Period.
Second Period. As from the date on which the total outstanding debt of the Phase IA Banks, and of the amount in principal remaining due to the Phase XX Xxxxx and to the Phase IB Lenders, represents less than 25% of the aggregate of the Outstanding Debt of the Phase IA Banks, increased by the unreimbursed amount under the Phase IA Partners’ Advances Agreement, the unreimbursed amount of the Loans and Advances under the Phase IB Credit Facility Agreement and the Phase IB Advances Agreement and the unreimbursed amount of the loans under the CDC Loan Agreements (this last total amount being hereafter called the “Total Outstanding Amount”), the following stipulations shall apply:
(A) the Creditors shall constitute a single voting group, the consultation of which shall be organised by the Single Agent through the intermediary of the other Agents;
(B) any authorisation or derogation shall be considered as adopted by the Creditors if it is approved by one or several Creditors the sum of whose participations in the Total Outstanding Amount represents more than two thirds of the sum of the participations in the Total Outstanding Amount of the Creditors having taken part in the vote, as long as the sum of the participations in the Total Outstanding Amount of the Creditors having taken part in the vote represents more than 50% of the Total Outstanding Amount; in the case where such quorum is not achieved, a second consultation shall be organised by the Single Agent within a period of ten days following the latest day on which the Creditors should have reached a decision on the first consultation; this second consultation shall be organised under the same terms and conditions as the first; on the second consultation, the single voting group of the creditors shall decide under the same majority rules, but without any quorum of the Creditors participating in the vote being required.
(C) CALYON is hereby appointed Single Agent and accepts its appointment. The stipulations described above will continue to apply even if any one of the four voting groups mentioned above ceases to exist.
Second Period. Up to 10 Hours of Weekly Consulting Services. From August 1, 2013, until March 31, 2014, you will conduct business and perform duties for Company pursuant to agreed- upon assignments from Xxxxxxx X. Xxxxx, or his designee, for up to 10 hours a week. These assignments will be in keeping with the duties and responsibilities that you performed in your Current Position. During this Second Period of Consulting Services you shall be prepared to, and be available to, render your regular duties, as requested, for up to 10 hours a week. The particular amount of time you may spend in providing Consulting Services may vary from day to day or week to week, but you are to use your best efforts to be prepared and available at such times as reasonably may be requested by Company. You agree to make yourself available for up to the hours noted above during the Consulting Period. You are to ensure that you do not work any hours in excess of the designated hours in the specific Consulting Period. The Company shall have no responsibility to monitor the number of hours worked and does not authorize any hours beyond those noted above. The Company agrees to provide you with reasonable notice of all requests for Consulting Services.
