The Accrued and Other Obligations Sample Clauses

The Accrued and Other Obligations. The benefits and compensation described in Sections 5(f)(i) through (iii) that the Executive shall receive is referred to jointly herein as the “Disability Severance Compensation.” The Company shall not be obligated to pay or provide to the Executive any Disability Severance Compensation due and owing to him on or after the date that he willfully and materially breaches Section 7 and/or Section 8 of this Agreement; provided, however, that before the Company ceases paying or providing any such Disability Severance Compensation, the Company shall give the Executive written notice of the event or events giving rise to such forfeiture and no less than twenty (20) days to cure and if the Executive cures such event or events, the Disability Severance Compensation shall continue to be paid or provided as set forth herein. Whether the Executive has willfully and materially breached Section 7 and/or Section 8 shall be subject to de novo review in accordance with Section 18 below. Also, no Disability Severance Compensation shall be paid to the Executive until he executes and delivers to the Company, and does not revoke in the time period provided therein, the release attached hereto as Exhibit A. Upon the Executive delivering and not revoking such Release, DFG and DFC agree to execute and promptly deliver the Release attached hereto as Exhibit B to the Executive. If the Executive delivers and does not revoke the Release in the time period provided therein, the Disability Severance Compensation shall be due and payable to him; provided, however, that such Release shall not be effective as a release of claims until the Company delivers the Release attached hereto as Exhibit B to the Executive. The parties hereto acknowledge that the Disability Severance Compensation to be provided under this Section 5(f) is to be provided in consideration for the above-specified release. The Disability Severance Compensation described in this Section 5(f) supersedes any other severance payment provided by any Company policy, plan or practice. Therefore, the Executive acknowledges and agrees that he is not eligible to receive any severance payment under any other Company severance policy, plan or practice. The foregoing will not be construed to limit the Executive’s right to payment or reimbursement for claims under any disability plan, policy or arrangement of the Company in accordance with the terms of such plan, policy or arrangement.
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Related to The Accrued and Other Obligations

  • Debt and Other Obligations Borrower’s obligations for the payment of the Debt and the performance of the Other Obligations shall be referred to collectively herein as the “Obligations.”

  • Debts, Guaranties and Other Obligations The Borrower shall not, and shall not permit any of its Subsidiaries to, create, assume, suffer to exist, or in any manner become or be liable in respect of, any Debt except:

  • Indebtedness and Other Obligations No Loan Party will create, incur, assume or permit to exist any Indebtedness, except Permitted Indebtedness.

  • Taxes and Other Obligations Pay all of its taxes, assessments and other obligations, including, but not limited to taxes, costs or other expenses arising out of this transaction, as the same become due and payable, except to the extent the same are being contested in good faith by appropriate proceedings in a diligent manner.

  • Payment of Taxes and Other Obligations Pay, discharge or otherwise satisfy at or before maturity or before they become delinquent, as the case may be, subject, where applicable, to specified grace periods, (a) all of its taxes (Federal, state, local and any other taxes) and (b) all of its other obligations and liabilities of whatever nature in accordance with industry practice and (c) any additional costs that are imposed as a result of any failure to so pay, discharge or otherwise satisfy such taxes, obligations and liabilities, except when the amount or validity of any such taxes, obligations and liabilities is currently being contested in good faith by appropriate proceedings and reserves, if applicable, in conformity with GAAP with respect thereto have been provided on the books of the Credit Parties.

  • Royalties and Other Payments A. For the rights, privileges and exclusive license granted hereunder, Licensee shall pay to CMCC the following amounts in the manner hereinafter provided. Unless expressly stated otherwise in this Agreement, periodic payment obligations listed below shall endure through the Term of this Agreement, unless this Agreement shall be sooner terminated as hereinafter provided.

  • Financial and Other Covenants Borrower shall at all times comply with the financial and other covenants set forth in the Schedule.

  • Impositions and Other Claims Each Borrower shall pay and discharge, or cause to be paid and discharged, all taxes, assessments and governmental charges levied upon it, its income and its assets and the Properties prior to delinquency, as well as all lawful claims for labor, materials and supplies or otherwise, subject to any rights to contest contained in the definition of Permitted Encumbrances. Each Borrower shall file or cause to be filed all federal, state and local tax returns and other reports that it or its subsidiaries are required by law to file. If any law or regulation applicable to Lender, any Note, any of the Mortgage Loan Collateral Properties or any of the Mortgages is enacted that deducts from the value of property for the purpose of taxation any Lien thereon, or imposes upon Lender the payment of the whole or any portion of the taxes or assessments or charges or Liens required by this Agreement to be paid by Borrower, or changes in any way the laws or regulations relating to the taxation of mortgages or security agreements or debts secured by mortgages or security agreements or the interest of the mortgagee or secured party in the property covered thereby, or the manner of collection of such taxes, so as to affect any of the Mortgages, the Indebtedness or Lender, then Borrower, upon demand by Lender, shall pay such taxes, assessments, charges or Liens, or reimburse Lender for any amounts paid by Lender. If in the opinion of Lender’s counsel it might be unlawful to require Borrower to make such payment or the making of such payment might result in the imposition of interest beyond the maximum amount permitted by applicable Law, Lender may elect to declare all of the Indebtedness to be due and payable 90 days from the giving of written notice by Lender to Borrower.

  • Interest and other amounts Any prepayment under this Agreement shall be made together with accrued interest on the amount prepaid and, subject to any Break Costs, without premium or penalty.

  • Default in Payment of Interest and Other Obligations The Borrower shall fail to pay when due any interest on any of the Loans or any of the other payment Obligations owing by the Borrower under this Agreement or any other Loan Document, or any other Loan Party shall fail to pay when due any payment Obligation owing by such other Loan Party under any Loan Document to which it is a party, and such failure shall continue for a period of 5 Business Days.

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