Covenant Payments definition

Covenant Payments means the payments and benefits under this Agreement that are made or provided to the Executive under Section 4 of this Agreement in exchange for the Executive's agreeing to the covenants in Subsections (b) through (e) (collectively, the "Protective Covenants"). The parties hereby stipulate that the value of the Covenant Payments is Four Hundred Thousand Dollars ($400,000).
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Covenant Payments means those contingent payments to be made by the City to the Owner pursuant to Section 3.2 of this Covenant Agreement in consideration of the Covenants and Owner’s timely and faithful performance thereunder.
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Covenant Payments shall have the meaning set forth in Section 3.1.
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Examples of Covenant Payments in a sentence

  • Therefore, the Company or its successors or assigns shall be entitled, in addition to any other rights and remedies existing in their favor, including the right to retain the Covenant Payments, to an injunction or injunctions to prevent any breach or threatened breach of any such provisions and to enforce such provisions specifically (without posting a bond or other security).

  • No zpecific figurez on the contribution of the textile induztry to overall global or national CHC emizzionz could be located.

  • Furthermore, Owner acknowledges that it is possible that the legislation described above, or some variant thereof, may be enacted and effective during one or more subsequent times during the Eligibility Period and may materially and negatively impact the amount of Sales Tax Revenues and, accordingly, Covenant Payments.

  • Owner acknowledges that it is possible that the legislature may enact similar legislation in the future which would cause a corresponding reduction of and/or delay in the payment of the Sales Tax Revenues and that such reduction will cause Owner a corresponding reduction and/or delay in the payment of the Covenant Payments due to Owner during such time as such legislation is in effect.

  • Should such condition precedent not be satisfied for each Computation Quarter, then City shall have no obligation under this Section 3.2 to make any Covenant Payments to Owner in such Computation Quarter.

  • The determination of the Covenant Payment(s) shall be determined and calculated on a Computation Quarter to Computation Quarter basis.

  • Notwithstanding anything herein to the contrary, if the Executive is terminated for Cause or the Executive voluntarily resigns other than for Good Reason or has a Disability, the Executive will remain subject to the covenants contained in Section 3 but will not be entitled to the Covenant Payments.

  • The Executive agrees that if he materially violates Sections 5 or 6 of the Employment Agreement, the Company shall have the right to cease the Restrictive Covenant Payments and to recoup any such Restrictive Covenant Payments that have already been paid.

  • In consideration of the covenants set forth in Section 4, the Executive shall be paid the Covenant Payments in the manner provided in Section 4.4.

  • The Protective Covenant Payments are contingent upon continued compliance with Protective Covenants.


More Definitions of Covenant Payments

Covenant Payments means fifty percent (50%) of the Associate's base salary at his or her Termination Date payable for the duration of the Covenant Period or, if shorter, until the date of the Associate’s death .
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Related to Covenant Payments

  • Installment Payments shall have the meaning set forth in Section 5(b)(ii).

  • Event Payments has the meaning set forth in Section 6.1(d).

  • Covenant Period means the period of time from the date of this Agreement to the date that is two years after the Date of Termination.

  • Service payments means payments to the private entity of a qualifying project pursuant to a service contract.

  • Basic Rent Payment Date means Basic Rent Payment Date as defined in Paragraph 6.

  • Total After-Tax Payments means the total of all “parachute payments” (as that term is defined in Section 280G(b)(2) of the Code) made to or for the benefit of the Executive (whether made hereunder or otherwise), after reduction for all applicable federal taxes (including, without limitation, the tax described in Section 4999 of the Code).

  • recurring payments “reference transactions” "preauthorized transfers" or "preapproved payment." You can cancel your billing agreement at any time in your account interface or by contacting us. Where a payment under that billing agreement is scheduled to be made before the end of the next Business Day after you tell us to cancel it, we may cancel your billing agreement after that payment has been made. If you cancel a billing agreement, you may still owe the recipient money for goods or services that you have received but have not paid for. If we determine currency conversion is necessary for a billing agreement payment, and we perform the conversion, we will use the transaction exchange rate in effect at the time the payment is processed. The transaction exchange rate for each payment transaction may vary. We may allow the recipient of your payment to: • Refuse to accept it. • Decide to accept it and then use our service to send you a refund of all or any part of the amount of the payment later. We will return the amount of any refused payment or refunded payment to your Balance. We will return the amount of an unclaimed payment to your balance within 30 days after the date you initiated the payment. If any amount of any payment is returned to you in any of the ways outlined above, we may convert the returned amount for you into either: • The currency of the balance you used for the original payment (before any conversion into the currency received by the recipient happened). • The opening currency of your account. • US dollars (opening a balance in that currency for you, if you don’t have one already). If the original payment you sent involved a currency conversion we will convert the returned amount from the currency received by the recipient as follows: • If the amount is returned within one day of the date of the original payment we will use our transaction exchange rate applicable on the date of the original payment, so that you receive the original amount in the original currency you converted for the original payment. • If the amount is returned after one day of the date of the original payment we will use and you agree to accept our transaction exchange rate applicable at the time of the conversion of the returned amount. The transaction exchange rate may be applied immediately and without notice to you. We may also automatically withdraw the returned amount from your Balance and transfer the funds back to the funding source you used for the original payment. Withdrawals can also involve a currency conversion – see the section on Withdrawing money above. The returned amount could be lower in value than your original payment amount. This can happen as a result of: • The recipient sending you a refund lower in value than your original payment amount. As we are only a payment service provider, we cannot know what you are entitled to from the original payment recipient as a refund or why the recipient sent the refund in a particular amount. • Transaction exchange rate fluctuations. PayPal is not responsible for any loss resulting from the recipient's decision to refuse or refund your payment, except to the extent that a refund sent by the recipient is a payment executed incorrectly by PayPal We are not liable to you for the difference between the value of your original payment and the value of the resulting refund, except to the extent that the refund is an incorrect payment (see the section on Resolving Problems).

  • Lease Termination Payments means all payments received by or on behalf of any Seller with respect to a Lease with respect to any terminations, surrenders, modifications, renewals or amendments of any such Lease.

  • Termination Payments has the meaning specified in Section 10(a).

  • relevant payment means either a student loan or an amount intended for the maintenance of dependants referred to in paragraph 76(7) or both.

  • Covenant Testing Period means a period (a) commencing on the last day of the fiscal month of Parent most recently ended prior to a Covenant Trigger Event for which Borrowers are required to deliver to Agent monthly financial statements pursuant to Schedule 5.1 to this Agreement, and (b) continuing through and including the first day after such Covenant Trigger Event that Availability has equaled or exceeded the greater of (a) 15% of the Maximum Revolver Amount, and (b) $4,500,000 for 60 consecutive days.

  • Contingent Payments has the meaning set forth in Section 2.05(b).

  • Restricted Debt Payments has the meaning set forth in Section 6.04(b).

  • Exception Payments means payments to deposit accounts or brokerage accounts, payments to settle securities transactions (including, without limitation, stocks, bonds, securities, futures (forex), options, or an investment interest in any entity or property).

  • Minimum Payments $50 (with respect to all funds in the aggregate.)

  • Installment Payment has the meaning ascribed to it in Section 2.02(a).

  • Scheduled Funded Debt Payments means, as of any date of determination for the Borrower and its Subsidiaries, the sum of all scheduled payments of principal on Funded Debt for the applicable period ending on the date of determination (including payments due on Capital Leases and mortgaged real properties (including any Mortgaged Properties) during the applicable period ending on the date of determination).

  • Severance Payments shall have the meaning set forth in Section 6.1 hereof.

  • Agreement Payment means a Payment paid or payable pursuant to this Agreement.

  • Rent Payment Date means each date on which an installment of rent is due and payable pursuant to Section 5(a) hereof.

  • Installment Payment Date means the date on which an installment payment of an assessment is payable.

  • Total Payments Made shall have the meaning set forth in Section 8.1 of this Agreement.

  • Current Pay Obligation means a Collateral Loan that would otherwise be a Defaulted Loan as to which (i) all scheduled interest and principal payments due (other than those due as a result of any bankruptcy, insolvency, receivership or other analogous proceeding) were paid in Cash and the Borrower or the Services Provider reasonably expects, and delivers to S&P (if S&P is then rating any Loans) a certificate of an Authorized Officer certifying that it reasonably expects, that the remaining scheduled interest and principal payments due will be paid in cash, (ii) the S&P Rating of such Collateral Loan is at least “CCC” and is not on a watch list for possible downgrade; (iii) the Market Value (which is not determined pursuant to clause (d) or subclause (iii) in the proviso of clause (c) of the definition thereof) of such Collateral Loan is at least 80% of par; and (iv) if the Obligor of such Collateral Loan is the subject of a bankruptcy, insolvency, receivership or other analogous proceeding, the bankruptcy court or other authorized official has authorized the payment of interest and/or principal and other amounts due and payable on such Collateral Loan and no such payments that are due and payable are unpaid; provided that to the extent that more than 10.0% of Total Capitalization would otherwise constitute Current Pay Obligations, one or more Collateral Loans (or portions thereof, as applicable) designated by the Borrower having a Maximum Principal Balance at least equal to such excess shall be deemed not to constitute Current Pay Obligations and shall instead constitute Defaulted Loans.

  • Debt Payments means for any period, in each case, all cash actually expended by any Borrower to make: (a) interest payments on any Advances hereunder, plus (b) scheduled principal payments on the Equipment Loans plus (c) scheduled principal payments on the Term Loans plus (d) payments for all fees, commissions and charges set forth herein, plus (e) payments on Capitalized Lease Obligations, plus (f) payments with respect to any other Indebtedness for borrowed money.

  • Earnout Payments has the meaning set forth in Section 2.2(a).

  • Aggregate Payments means, with respect to a Contributing Guarantor as of any date of determination, an amount equal to (1) the aggregate amount of all payments and distributions made on or before such date by such Contributing Guarantor in respect of this Guaranty (including in respect of this Section 7.2), minus (2) the aggregate amount of all payments received on or before such date by such Contributing Guarantor from the other Contributing Guarantors as contributions under this Section 7.2. The amounts payable as contributions hereunder shall be determined as of the date on which the related payment or distribution is made by the applicable Funding Guarantor. The allocation among Contributing Guarantors of their obligations as set forth in this Section 7.2 shall not be construed in any way to limit the liability of any Contributing Guarantor hereunder. Each Guarantor is a third party beneficiary to the contribution agreement set forth in this Section 7.2.