Nature of Payments definition

Nature of Payments. Any amounts due under this Section 5 are in the nature of severance payments, liquidated damages, or both, and shall compensate Executive, and the dependents, beneficiaries and estate of Executive for any and all direct damages and consequential damages that they may suffer as a result of the termination of Executive's employment, and are not in the nature of a penalty.
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Examples of Nature of Payments in a sentence

  • Nature of Payments Threshold Company Individual If NoMade to Resident Firm Co- HUF PAN ORop Soc.

  • Complexity and variability of interpreting and applying laws, regulations, and standards required of the program. Nature of Payments and Recipients – Type, volume, and size of payments.

  • SURVIVAL AND INDEMNIFICATION 27 Section 8.1 Survival 27 Section 8.2 Indemnification by Parent and Seller 27 Section 8.3 Indemnification by Purchaser 28 Section 8.4 Limits on Indemnification 28 Section 8.5 Notice of Loss; Claims 28 Section 8.6 Nature of Payments 30 Section 8.7 Exclusive Remedy 30 Article IX.

  • Exclusive Monetary Remedy; Consequential Damages; Nature of Payments; No Duplicate Recovery; Access Rights 70 SECTION 9.07.

  • DSAs will remain available to assist students with the additional cost of specialist accommodation, incurred due to a disability, where the accommodation is privately rented provided by a landlord and not covered in the above examples.

  • The Chiroptera of the classified forest of Assoukoko: Diversity, ecology and epidemiological interest, Master's thesis Ecology and Management of Wildlife Resources, FDS / Univ.

  • Newness of program to the agency. Nature of Payments and Recipients – Type, volume, and size of payments.

  • In its sole discretion, the Committee may authorize the creation of trusts or other arrangements to meet the obligations created under the Plan to deliver the shares of Common Stock or payments in lieu of or with respect to Awards hereunder; provided, however, that the existence of such trusts or other arrangements is consistent with the unfunded status of the Plan.(l) Nature of Payments.

  • Exclusive Monetary Remedy; Consequential Damages; Nature of Payments; No Duplicate Recovery; Access Rights 70 Table of Contents SECTION 9.07.

  • E.g. Goods and Service Tax (GST), Nature of Payments for Tax Deducted at Source (TDS), etc.

Related to Nature of Payments

  • Schedule of Payments means the schedule of payments disclosed on a Contract.

  • Due Date of Payment means the date on which the amount payable by the DISCOM to the solar power developer hereunder for Delivered Energy, if any, supplied during a billing month becomes due for payment, which date shall be thirty (30) days from the meter reading date provided the bill is received by DISCOM within 5 working days from meter reading date, and in the case of any supplemental or other bill or claim, if any, the due date of payment shall be thirty (30) days from the date of the presentation of such bill or claim to the designated officer of DISCOM. If the last date of payment falls on a holiday, the next working date shall be considered as last date.

  • Priority of Payments The meaning specified in Section 11.1(a).

  • Tariff Payment means the payments to be made under Monthly Bills as referred to in Article 10 and the relevant Supplementary Bills;

  • Date of Payment means the date on which NYSERDA requisitions a check from its statutory fiscal agent, the Department of Taxation and Finance, to make a Payment.

  • Basic Rate of Pay means the incremental step in the Salaries Schedule applicable to an Employee in accordance with the terms of this Collective Agreement, exclusive of all premium payments.

  • Place of Payment when used with respect to the Securities of any series, means the place or places where the principal of and any premium and interest on the Securities of that series are payable as specified as contemplated by Section 301.

  • Regular rate of pay means the rate of pay the employee was receiving at the time maternity leave commenced, but does not include retroactive adjustment of rate of pay, acting pay, shift premium, overtime or any other form of supplementary compensation.

  • Guaranty of Payment means each Guaranty of Payment executed and delivered on or after the Closing Date in connection with this Agreement by the Guarantors of Payment, as the same may from time to time be amended, restated or otherwise modified.

  • Debit Payment means a particular transaction where a debit is made.

  • Base rate of pay means the rate of pay payable to the Employee for their Ordinary Hours of work, but not including any of the following: a) loadings; b) monetary allowances; c) overtime; and d) penalty rates.

  • weekly rate of pay means an employee’s annual rate of pay divided by 52.176.

  • hourly rate of pay means an employee's weekly rate of pay divided by thirty-five (35).

  • Final rate of pay means the actual rate upon which earnings of an employee were calculated during the twelve (12) month period immediately preceding the member's effective retirement date, and shall include employee contributions picked up after August 1, 1982, pursuant to KRS 78.610(4). The rate shall be certified to the system by the employer and the following equivalents shall be used to convert the rate to an annual rate: two thousand eighty (2,080) hours for eight (8) hour workdays, one thousand nine hundred fifty (1,950) hours for seven and one-half (7.5) hour workdays, two hundred sixty (260) days, fifty-two (52) weeks, twelve (12) months, one (1) year;

  • Actual Rate of Pay means, unless and until the Agency Worker has completed the Qualifying Period, the rate of pay which will be paid for all time worked during an Assignment for each hour worked, as set out in the relevant Assignment Details Form;

  • FILOT Payments means the amount paid or to be paid in lieu of ad valorem property taxes as provided herein.

  • Annual Rate of Pay means, as of any date, an employee’s annualized base pay rate. An employee’s Annual Rate of Pay shall not include sales commissions or other similar payments or awards.

  • Guarantor of Payment means each of the Companies set forth on Schedule 2 hereto, that are each executing and delivering a Guaranty of Payment, or any other Person that shall deliver a Guaranty of Payment to Agent subsequent to the Closing Date.

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

  • Ordinary rate of pay in Clause 17. - Annual Leave means the average rate the employee received for the four weeks preceding the taking of annual leave or the average rate received for the 12 months preceding such leave, whichever shall be the higher, provided that such average shall be computed taking into consideration any extra rates prescribed for night work, etc., and penalty rates for Sunday work where such work is part of the employee's normal working week of five days but excluding any amounts received by way of overtime or holiday penalty rates.

  • Special Payments Account means the Eligible Deposit Account created pursuant to Section 2.2(a)(ii) as a sub-account to the Collection Account.

  • daily rate of pay means an employee's weekly rate of pay divided by five (5);

  • Guarantee Priority of Payments means the priority of payments relating to moneys received by the Cash Manager for and on behalf of the Guarantor and moneys standing to the credit of the Guarantor Accounts, to be paid on each Guarantor Payment Date in accordance with the Guarantor Agreement.

  • Advance Payments means the payments made by Customer in advance of delivery with respect of an Aircraft pursuant to Section 4.2 of the Purchase Agreement.

  • Current rate of pay means the member's actual hourly, daily, weekly, biweekly, monthly, or yearly rate of pay converted to an annual rate as defined in final rate of pay. The rate shall be certified by the employer;

  • Policy Payments Account means a separate special purpose trust account that is an Eligible Account, for the benefit of Holders of the Notes and the Credit Enhancer over which the Indenture Trustee has exclusive control and sole right of withdrawal.