Payment Right definition

Payment Right means (A) any right to payment, whether or not such a right is reduced to judgment, liquidated, unliquidated, fixed, contingent, matured, unmatured, disputed, undisputed, legal, equitable, secured, or unsecured or (B) the right to an equitable remedy for breach of performance if such breach gives rise to a right to payment, whether or not such right to an equitable remedy is reduced to judgment, liquidated, unliquidated, fixed, contingent, matured, unmatured, disputed, undisputed, legal, equitable, secured, or unsecured; and (ii) “Present Fair Saleable Value” means, with respect to Buyer or the Transferred Assets being acquired by Buyer hereunder, the amount that may be realized if its aggregate assets (including its goodwill) are sold as an entirety with reasonable promptness in an arm’s-length transaction under present conditions for the sale of comparable business enterprises.

Payment Right. Each RVO shall represent the right to receive an amount in cash equal to a PRO RATA share of 50% of the Residual Cash Flow remaining after application of the Residual Cash Flow to the AFCC Amount, RVO Expenses and Litigation Expenses, calculated pursuant to, and subject to, the terms below. PAYMENT DATES: Amounts allocated for payment on the RVOs as provided below under "Application of Residual Cash Flow", if any, will be paid on the second business day after the Distribution Dates in April, July, October and January to holders of record on the immediately preceding March 1, June 1, September 1 or December 1, respectively, commencing with the first payment date following the Effective Time (or, if the Effective Time is after the record date in respect of such first payment date, then on the next succeeding payment date).

Payment Right has the meaning ascribed to such term in Section 3.5(b)(iii).

Examples of Payment Right in a sentence

• Subject to the terms and conditions contained herein, the Employee waives his Termination Power and Payment Right (the “Waiver”), in each case only with respect to (i) the Vulcan Sale and (ii) the termination of the EVRA.

• The Purchased Securities and the shares of Common Stock to be issued pursuant to the Contingent Payment Right Agreement, when issued, sold, and delivered in accordance with the terms of this Agreement and the other Transaction Documents, will be duly and validly issued, fully paid, and nonassessable, and will be free of any Liens or restrictions on transfer other than restrictions under this Agreement, the Governance Agreement and under applicable state and federal securities Laws.

• This Contingent Payment Right is issued pursuant to that certain Investment Agreement, dated as of September 13, 2020, by and between the Company and the Investor (the “Investment Agreement”).

• In lieu of any fractional Contingent Payment Right Share to which the Holder would otherwise be entitled, the Company shall make a cash payment equal to the Fair Market Value of one Contingent Payment Right Share multiplied by such fraction.

• The Bank shall, other than with respect to Purchased Diversified Payment Rights the payments with respect to which the Bank is unable to direct to a Designated Depositary Bank, irrevocably instruct each Depositary Bank to make the relevant payment under any Purchased Diversified Payment Right to a Concentration Account maintained at one of the Designated Depositary Banks.

More Definitions of Payment Right

Payment Right has the meaning set forth in the definition of “Receivables Facility Asset.”

Payment Right means all rights of Borrowers to the payment of money from one or more Customers (whether any of such rights constitutes or is evidenced by an Account, Chattel Paper, Instrument, Document, General Intangible, Supporting Obligation, Payment Intangible or Letter-of- Credit Right), including all rights to the repayment of Borrower Advances and all rights to payment in respect of Borrower Royalty Receivables.

Payment Right means (A) any right to payment, whether or not such a right is reduced to judgment, liquidated, unliquidated, fixed, contingent, matured, unmatured, disputed, undisputed, legal, equitable, secured or unsecured or (B) the right to an equitable remedy for breach of performance if such breach gives rise to a right to payment, whether or not such right to an equitable remedy is reduced to judgment, liquidated, unliquidated, fixed, contingent, matured, unmatured, disputed, undisputed, legal, equitable, secured or unsecured; and (ii) “Present Fair Saleable Value” means, with respect to Buyer, the Company Parties or any of their Subsidiaries, the amount that may be realized if the aggregate assets of such Person (including such Person’s goodwill) are sold as an entirety with reasonable promptness in an arm’s-length transaction under present conditions for the sale of comparable business enterprises.

Payment Right means all rights to the payment of money under, but only in each case to the extent the same constitutes Collateral, (i) Accounts (other than Accounts representing the sale or other disposition of Equipment and Other Goods pursuant to Section 4.21of the Indenture, (ii) Payment Intangibles, and (iii) Letter-of-Credit Rights.

Payment Right means (A) any right to payment, whether or not such a right is reduced to judgment, liquidated, unliquidated, fixed, contingent, matured, unmatured, disputed, undisputed, legal, equitable, secured or unsecured or (B) the right to an equitable remedy for breach of performance if such breach gives rise to a right to payment, whether or not such right to an equitable remedy is reduced to judgment, liquidated, unliquidated, fixed, contingent, matured, unmatured, disputed, undisputed, legal, equitable, secured or unsecured; and (ii) “Present Fair Saleable Value” means, with respect to a Party, the amount that may be realized if the aggregate Assets of such Party (including such Party’s goodwill, if applicable) are sold as an entirety with reasonable promptness in an arm’s-length transaction under present conditions for the sale of comparable Assets or business enterprises.

Payment Right means (A) any right to payment, whether or not such a right is reduced to judgment, liquidated, unliquidated, fixed, contingent, matured, unmatured, disputed, undisputed, legal, equitable, secured, or unsecured or (B) the right to an equitable remedy for breach of performance if such breach gives rise to a right to payment, whether or not such right to an equitable remedy is reduced to judgment, liquidated, unliquidated, fixed, contingent, matured, unmatured, disputed, undisputed, legal, equitable, secured, or unsecured; and (ii) “Present Fair Saleable Value” means, with respect to Buyer or the Business, the amount that may be realized if its aggregate assets (including its goodwill) are sold as an entirety with reasonable promptness in an arm’s-length transaction under present conditions for the sale of comparable business enterprises.

Payment Right means, with respect to any holder of a Ten-Year Contract at any time, a number