Ordinary Course Payment means the payment by the Debtor of a liability incurred in the ordinary course of business after the Petition Date, made as and when due, in accordance with the Debtor’s ordinary business practices.
Ordinary Course Payment means any of the following paid to an Affiliate: (i) payment of reasonable compensation for services (including salary, bonus and fringe benefits) to an Affiliate who is a full-time employee of the Corporation, and reimbursement of reasonable expenses to an Affiliate who is a full-time employee of the Corporation, (ii) reasonable director’s fees and reimbursement of expenses of directors of the Corporation in attending meetings of the Board of Directors and performing the functions of a director of the Corporation; and (iii) payments for goods or services supplied by an Affiliate to the Corporation in the ordinary course of the Corporation’s business on terms no less favorable to the Corporation than could be obtained from a Person who is not an Affiliate.
Examples of Ordinary Course Payment in a sentence
A deferred tax asset has not been recognised in respect of the historic losses within the Group’s Irish business as the RenaStat product remains in development and future taxable profit is not forecast in the short term.
Section 6.4(m) Ordinary Course Payment.........................................................................