Examples of Deferred Payment Period in a sentence
In order to receive Deferred Payment during a Deferred Payment Period, Employee must elect such Deferred Payment in writing and specify the Deferred Payment Period, which may not exceed the number of months of Base Monthly Salary payable to Employee as the Severance Amount.
In the event of Employee's death during the Deferred Payment Period, any unpaid Deferred Payment shall be paid in a lump sum to such beneficiary or beneficiaries designated by Employee in writing or, failing such designation, to Employee's spouse if Employee is married or to Employee's estate if Employee is unmarried.
Notwithstanding the foregoing, sales of an Extension Product shall not be included in the determination of net sales for a period of eighteen (18) months following the first sale by the Buyer of such Extension Product but shall be included thereafter for the duration of the Deferred Payment Period.
The Deferral Fee shall be calculated as of the end of each month or the last date of the Deferred Payment Period for the month or portion of a month ending on such date.
As used herein, "net sales" shall mean the Buyer's total worldwide gross sales of the Products in all markets, during the Deferred Payment Period, determined on an accrual basis, less actual freight allowances permitted by the Buyer to be taken by its trade customers, returns, trade allowances, trade rebates, and trade and cash discounts.