Transition Period Payments Sample Clauses

Transition Period Payments. It is the intention of the Company and Executive to negotiate an arrangement with Executive’s prior employer under which Executive would continue to provide services to his prior employer for a period of up to four (4) months on a part-time basis that would not require Executive to spend more than one-fifth of his productive time on the business of his prior employer (the “Transition Period”). To the extent that an acceptable arrangement can be reached with Executive’s prior employer, any payments from Executive’s prior employer for Executive’s services to the prior employer during the Transition Period shall be made directly to the Company rather than to Executive, who shall have no claim thereto. It is understood that Executive shall not be entitled to any additional payments or compensation other than as set forth in this Agreement as a result of providing such services to the prior employer.
Sample 1
AutoNDA by SimpleDocs
Transition Period Payments. 4.1 The Parties acknowledge and agree that, prior to the Lease Effective Date, Tenant paid Landlord certain payments, including an upfront payment in the amount of Fifty-Four Million Dollars ($54,000,000.00) (such amount, the "Transition Period Payment Reserve"). Xxxxxxxx agrees to hold and disburse the Transition Period Payment Reserve in accordance with the provisions of this Section 4.1. For each Lease Year or portion thereof occurring during the first three (3) Lease Years of the Lease Term, Tenant shall pay Landlord a non-refundable annual payment in the amount of $10,000,000.00, which shall be due to Landlord as of the first day of such Lease Year (a “Transition Period Payment”). Notwithstanding anything herein to the contrary, the Transition Period Payment payable by Tenant hereunder during the first three (3) Lease Years of the Lease Term shall be deducted from the Transition Period Payment Reserve when due hereunder and be deemed paid by Xxxxxx in accordance with the terms hereof. Landlord shall return to Tenant, within two (2) Business Days of the first (1st) day of the fourth (4th) Lease Year of the Lease Term, the remaining amount of the Transition Period Payment Reserve in full. Notwithstanding the foregoing, in the event that Tenant has terminated this Lease prior to the last day of the third (3rd) Lease Year of the Lease Term pursuant to Section 5.1, Landlord shall immediately accelerate the payment of the Transition Period Payment for the remainder of the first three (3) Lease Years from the Transition Period Payment Reserve and return the remaining amount of the Transition Period Payment Reserve over Thirty Million Dollars ($30,000,000) to Tenant.
Sample 1
Transition Period Payments. During the six (6) calendar month period immediately following the Effective Date (the “Transition Period”), as further consideration for terminating the Restated Sales Agreement, Company shall pay to SpineSource an amount equal to five hundred ten thousand United Stated dollars ($510,000), payable in equal installments of eighty-five thousand United States dollars ($85,000) per month on the last business day of each calendar month commencing on the last business day of the first (1st) calendar month following the Effective Date of this Agreement. For clarity, no additional amounts shall be due or payable as consideration under the terms of this Agreement following the end of such Transition Period, unless otherwise mutually agreed to in writing by the Parties.
Sample 1

Related to Transition Period Payments

  • Transition Period Due to the nature of our purchasing process, the District often requires an existing service provider to continue to provide goods and/or services while the District is in the process of advertising, evaluating, and awarding a contract for the provision of the same goods and/or services in the future. To accommodate this process, the Contractor shall agree to maintain the same terms and conditions set forth in this Agreement for a period up to ninety (90) days after the automatic termination of this Agreement at the end of its term, if requested by the District, as a transition period. In addition, if the Contractor is not the successful bidder for a future solicitation for the same or similar services, he or she shall agree to provide the same goods and/or services provided in this Agreement for a period up to ninety (90) days to allow for an orderly transition to the new provider. The District and the Contractor may mutually agree to a longer transition period.

  • Retention periods Documentation which serves as evidence of orderly and proper data processing must be retained by ATOSS in accordance with the applicable statutory retention periods beyond the end of the contract. To relieve itself of this obligation, ATOSS may turn said documentation over to the Customer at the end of the contract.

  • Transitional Period At the end of the transitional period as defined in Article 10(2) of the Directive, the contracting parties shall cease to apply the withholding/retention tax and revenue sharing provided for in this Agreement and shall apply in respect of the other contracting party the automatic exchange of information provisions in the same manner as is provided for in Chapter II of the Directive. If during the transitional period either of the contracting parties elects to apply the automatic exchange of information provisions in the same manner as is provided for in Chapter II of the Directive it shall no longer apply the withholding/retention tax and the revenue sharing provided for in Article 9 of this Agreement.

  • PRORATION PERIOD The Tenant: (check one)

  • Vacation Periods Vacation schedules will be set by the employee’s immediate supervisor(s) and sent to the Office of Human Resources for approval. Employees may request a particular period for vacation. Vacation days may not be taken in advance of their accrual. Those employees who are on a 12-month teacher contract are paid during Spring Break and Winter Recess, however, are not expected to be in attendance or perform duties during those breaks.

  • Payment Period Whenever a payment under this Agreement specifies a payment period with reference to a number of days, the actual date of payment within the specified period shall be within the sole discretion of Company.

  • Distribution Assistance Fees (Asset-Based Sales Charge) Payments In its sole discretion and irrespective of whichever alternative method of making service fee payments to Recipients is selected by the Distributor, in addition the Distributor may make distribution assistance fee payments to a Recipient quarterly, or at such other interval as deemed appropriate by the Distributor, within forty-five (45) days after the end of each calendar quarter or other period, at a rate not to exceed 0.1875% (0.75% on an annual basis) of the average during the period of the aggregate net asset value of Shares computed as of the close of each business day constituting Qualified Holdings owned beneficially or of record by the Recipient or its Customers until such Shares are redeemed or converted to another class of shares of the Fund, provided, however, that a majority of the Independent Trustees may, but are not obligated to, set a time period (the "Recipient Maximum Holding Period") for making such payments. Distribution assistance fee payments shall be made only to Recipients that are registered with the SEC as a broker-dealer or are exempt from registration. The distribution assistance to be rendered by the Recipients in connection with the sale of Shares may include, but shall not be limited to, the following: distributing sales literature and prospectuses other than those furnished to current Shareholders, providing compensation to and paying expenses of personnel of the Recipient who support the distribution of Shares by the Recipient, and providing such other information and services in connection with the distribution of Shares as the Distributor or the Fund may reasonably request.

  • Expense Accrual and Payment Services (1) For each valuation date, calculate the expense accrual amounts as directed by the Trust as to methodology, rate or dollar amount. (2) Process and record payments for Fund expenses upon receipt of written authorization from the Trust. (3) Account for Fund expenditures and maintain expense accrual balances at the level of accounting detail, as agreed upon by USBFS and the Trust. (4) Provide expense accrual and payment reporting.

  • Termination Period This Option shall be exercisable for three (3) months after Participant ceases to be a Service Provider, unless such termination is due to Participant’s death or Disability, in which case this Option shall be exercisable for twelve (12) months after Participant ceases to be a Service Provider. Notwithstanding the foregoing sentence, in no event may this Option be exercised after the Term/Expiration Date as provided above and this Option may be subject to earlier termination as provided in Section 13 of the Plan.

  • Meal Period Employees shall receive a meal period which shall commence no less than two (2) hours nor more than five (5) hours from the beginning of the employee's regular shift or when the employee is called in to work on their regular day off. The meal period shall be no less than one-half (½) hour nor more than one (1) hour in duration and shall be without compensation. Should an employee be required to work in excess of five (5) continuous hours from the commencement of their regular shift without being provided a meal period, the employee shall be compensated two (2) times the employee's straight-time hourly rate of pay for the time worked during their normal meal period and be afforded a meal period at the first available opportunity during working hours without compensation.

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!