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.

Examples of Nature of Payments in a sentence

  • Nature of Payments All Awards made pursuant to the LTIP are in consideration of services performed for the Company.

  • Nature of Payments.................................................

  • Nature of Payments All Awards made pursuant to the LTIP are in consideration of services performed for the Corporation or the business unit employing the recipient.

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

  • The Committee may in its discretion provide for payment of interest on deferred cash dividends.18.7 Nature of Payments.

  • Nature of Payments ..................................................

  • Payment of Principal, Interest and Fees 23 Section 3.1. Repayment of Principal 23 Section 3.2. Prepayments 23 Section 3.3. Interest 26 Section 3.4. Agent’s Fees 27 Section 3.5. Nature of Payments 27 Section 3.6. Payment Procedures 28 Section 3.7. Administrative Agent’s Determination 28 Section 3.8. Payments Pro Rata 28 Section 3.9. Governmental Approvals 29 SECTION 4.

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

  • 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.

  • Nature of Payments All Awards made pursuant to the LTIP are in consideration of services performed for the Corporation.

Related to Nature of Payments

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

  • 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, overtime, shift premium 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.

  • 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:

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

  • 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.

  • Receivables Fees means distributions or payments made directly or by means of discounts with respect to any accounts receivable or participation interest therein issued or sold in connection with, and other fees paid to a Person that is not a Restricted Subsidiary in connection with, any Receivables Facility.

  • 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).

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

  • 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.

  • 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.

  • Payment Currency has the meaning given in Clause 21.4;