VMY Deferred Payment Sample Clauses

VMY Deferred Payment. On the six month anniversary of the Closing -------------------- Date, DoveBid shall pay the VMY Shareholders (excluding ▇▇▇▇▇▇▇ Wee ▇▇▇▇ ▇▇▇▇ and ▇▇▇▇▇▇ Wee Soon Keng) in cash $35,625 (the "VMY Deferred Payment"); provided that, if on such date, there is outstanding an unresolved Notice of Claim or Contested Claim (as defined in Article VIII hereof), an amount equal to the amount of Damages (as defined in Article VIII hereof) claimed in such Notice of Claim or Contested Claim shall be withheld from such payment to the VMY Shareholders (excluding ▇▇▇▇▇▇▇ Wee ▇▇▇▇ ▇▇▇▇ and ▇▇▇▇▇▇ Wee Soon Keng), pending resolution of the Notice of Claim or Contested Claim pursuant to the Article VIII hereof; and provided that, if on such date, there has been a resolved Notice of Claim or Contested Claim (as defined in Article VIII hereof) that has not been paid by a VMY Shareholder (excluding ▇▇▇▇▇▇▇ Wee ▇▇▇▇ ▇▇▇▇ and ▇▇▇▇▇▇ Wee Soon Keng) or VMY, an amount equal to such unpaid amount shall be withheld from such payment to the VMY Shareholders (excluding ▇▇▇▇▇▇▇ Wee ▇▇▇▇ ▇▇▇▇ and ▇▇▇▇▇▇ Wee Soon Keng) and such withheld amount shall be deemed to have been paid by such VMY Shareholder (excluding ▇▇▇▇▇▇▇ Wee ▇▇▇▇ ▇▇▇▇ and ▇▇▇▇▇▇ Wee Soon Keng) or VMY to DoveBid.
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Related to VMY Deferred Payment

  • Deferred Payment “Deferred Payment” means any severance pay or benefits to be paid or provided to Executive (or Executive’s estate or beneficiaries) pursuant to this Agreement and any other severance payments or separation benefits, that in each case, when considered together, are considered deferred compensation under Section 409A.

  • Deferred Payments “Deferred Payments” means any severance pay or benefits to be paid or provided to Executive (or Executive’s estate or beneficiaries) pursuant to this Agreement and any other severance payments or separation benefits to be paid or provided to Executive (or Executive’s estate or beneficiaries), that in each case, when considered together, are considered deferred compensation under Section 409A.

  • Returned Payment Fee If your account is subject to a Returned Payment Fee, the fee will be charged to your account when a payment is returned for any reason.

  • Required Payments Unless otherwise provided in this Agreement, any payment of Tax required shall be due within 30 days of a Final Determination of the amount of such Tax.

  • Returned Payments If after receipt of any payment which is applied to the payment of all or any part of the Obligations (including a payment effected through exercise of a right of setoff), the Administrative Agent or any Lender is for any reason compelled to surrender such payment or proceeds to any Person because such payment or application of proceeds is invalidated, declared fraudulent, set aside, determined to be void or voidable as a preference, impermissible setoff, or a diversion of trust funds, or for any other reason (including pursuant to any settlement entered into by the Administrative Agent or such Lender in its discretion), then the Obligations or part thereof intended to be satisfied shall be revived and continued and this Agreement shall continue in full force as if such payment or proceeds had not been received by the Administrative Agent or such Lender. The provisions of this Section 2.21 shall be and remain effective notwithstanding any contrary action which may have been taken by the Administrative Agent or any Lender in reliance upon such payment or application of proceeds. The provisions of this Section 2.21 shall survive the termination of this Agreement.