Special Cash Payments. If the Company determines, in its sole discretion, that it cannot pay its share of the COBRA premiums without a substantial risk of violating applicable law (including, without limitation, Section 2716 of the Public Health Service Act), the Company instead shall pay to Executive, on the first day of each calendar month, a fully taxable cash payment equal to the Company’s share of the applicable COBRA premiums for that month, subject to applicable tax withholdings, for the remainder of the Benefits Continuation Period.
Special Cash Payments. (a) At any time, the Company may elect on any Interest Payment Date, upon not less than 20 calendar days prior written notice in the manner provided below, to make one or more payments in cash ("Special Cash Payments"), pro rata to Holders of record on the fifteenth day (whether or not a Business Day) immediately preceding the effective date of an election (which effective date shall be such payment date), of all or part of the Adjusted Principal Amount of the Debentures as of the date immediately preceding the effective date of such election. Any such election shall be irrevocable.
Special Cash Payments. In addition, a Special Cash Payment of $750,000.00, less applicable taxes, will be paid to you at the Closing. In addition, a second Special Cash Payment equal to $5,771,500.00, less applicable taxes, will be paid to you at the Closing. Upon your written instructions to the Company all or a portion of the cash payments in II(7) and II(8) shall be paid to Holdings on your behalf at the Closing. A draft of such written instructions is attached for your convenience as Attachment D.
