Payment Company definition
Examples of Payment Company in a sentence
In addition to the Severance Payment, Company shall pay for Executive's COBRA coverage during the payout period of the Severance Payment.
In addition to the Severance Payment, Company shall pay for Executive’s COBRA coverage during payout period of the Severance Payment.
In the event that the Excise Tax is determined to exceed the amount taken into account hereunder at the time of the termination of Employee's employment (including by reason of any payment the existence or amount of which cannot be determined at the time of the Gross-Up Payment), Company shall make an additional Gross-Up Payment in respect of such excess (plus any interest payable with respect to such excess) at the time that the amount of such excess is finally determined.
In the event that the Excise Tax is determined to exceed the amount taken into account hereunder at the time of the termination of Employee’s employment (including by reason of any payment the existence or amount of which cannot be determined at the time of the Gross-Up Payment), Company shall make an additional Gross-Up Payment in respect of such excess (plus any interest payable with respect to such excess) at the time that the amount of such excess is finally determined.
Upon the occurrence and during the continuance of an Event of Default, if any Grantor fails to perform any agreement contained herein, the Agent may, but without any obligation to do so and without notice, itself perform, or cause performance of, such agreement, and the expenses of the Agent incurred in connection therewith shall be payable by such Grantor under Section 23.
If, however, Company receives written notice from Executive of Company's failure to pay a Monthly Severance Payment, Company shall pay Executive in a lump sum, in cash, an amount equal to the unpaid balance of the Monthly Severance Payments on or before the fifth (5th) day following the date Company receives such written notice from Executive.
The procedure described in this Section 5.8 for Chargeback Losses shall also be followed for such credit and fraud risks as well as any Payment Company fines or penalties.
Payment Company shall pay net salary amount to employee, after deduction made by company for the employee’s personal income taxes, social security and other taxes which the company is liable to pay on behalf employee from his/her salary required by Laws and regulations.
WFB will advise Company as to any changes to the form of Merchant Agreement required by a Payment Company, and Company shall timely effect all such changes.
In accordance with a schedule to be agreed upon by Company and WFB, and subject to the negotiation of an Assignment and Assumption Agreement in a form that is acceptable to WFB, the BIN and ICA used by the Company's existing Payment Company sponsor will be transferred to WFB.