Progress Payment Rider definition

Progress Payment Rider shall refer to that document wherein the seller of the Equipment requires payment prior to the commencement of a Lease Order and Lessee agrees to make payments prior to the commencement of a Lease Order.
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Examples of Progress Payment Rider in a sentence

  • Rental shall begin to accrue on the Delivery and Acceptance Date and Lessee shall pay to Lessor, as rental for the Equipment during the Initial Term, the rent set forth in the respective Lease Order, which shall be due and payable in advance on the first day of each calendar month or quarter as specified in the Lease Order during such Initial Term plus any extended term (each date being hereinafter called a "Rent Payment Date"), unless modified by a Progress Payment Rider.

  • Rental shall begin to accrue on the Delivery and Acceptance Date and Lessee shall pay to Lessor, as rental for the Equipment during the Initial Term, the rent set forth in the respective Lease Order, which shall be due and payable in advance on the first day of each calendar month or quarter as specified in the Lease Order during such Initial Term plus any extended term (each date being hereinafter called a `Rent Payment Date"), unless modified by a Progress Payment Rider.

  • All Equipment is subject to Lessor's review and approval prior to making any progress payment pursuant to the Progress Payment Rider (as defined below) or entering any Supplement.

  • The Term with respect to an item of the Equipment covered by this Schedule shall commence on the earlier of (a) the date that Lessor makes a progress payment with respect to such Equipment pursuant to the Progress Payment Rider dated as of the date hereof (the "Progress Payment Rider") between Lessee and Lessor or (b) the date of the Certificate of Acceptance executed by Lessee with respect to such Equipment (the "Acceptance Date").

  • Subject to the terms and conditions contained herein and effective upon Agent's receipt of an Equipment Rights Agreement, substantially in the form attached hereto as Exhibit D, executed and delivered by all parties thereto other than Agent, Agent and Lenders hereby consent to Borrowers entering into the Lombard Agency Agreement and the Lombard Progress Payment Rider and to consummating the Lombard Agency Transactions.

  • The aggregate Original Equipment Cost for all of the Equipment in the Equipment Group is $13,300,330.56, of which $0 has been funded by Progress Payments (as defined in the Progress Payment Rider) and $13,300,330.56 is being funded in connection with this Supplement.

Related to Progress Payment Rider

  • Progress Payment means a payment by a public agency to a contractor for work in place under the terms of a construction contract.

  • Progress Payments County shall make periodic progress payments consist with the Contract Price on the basis of Contractor's Applications for Payments, as provided in paragraph 5.2.1 below. (Payment pursuant to this Contract shall be made as earned, in whole or in part, from available County funds in an amount not to exceed the contract amount.) 5.2.1 Prior to Contract Completion, unless terminated prior to Completion, progress payments shall occur in an amount equal to:

  • Excess Payment means the amount paid by any Guarantor in excess of its Ratable Share of any Obligations; (b) “Ratable Share” shall mean, for any Guarantor in respect of any payment of Obligations, the ratio (expressed as a percentage) as of the date of such payment of Obligations of (i) the amount by which the aggregate present fair salable value of all of its assets and properties exceeds the amount of all debts and liabilities of such Guarantor (including contingent, subordinated, unmatured, and unliquidated liabilities, but excluding the obligations of such Guarantor hereunder) to (ii) the amount by which the aggregate present fair salable value of all assets and other properties of all of the Loan Parties exceeds the amount of all of the debts and liabilities (including contingent, subordinated, unmatured, and unliquidated liabilities, but excluding the obligations of the Loan Parties hereunder) of the Loan Parties; provided, however, that, for purposes of calculating the Ratable Shares of the Guarantors in respect of any payment of Obligations, any Guarantor that became a Guarantor subsequent to the date of any such payment shall be deemed to have been a Guarantor on the date of such payment and the financial information for such Guarantor as of the date such Guarantor became a Guarantor shall be utilized for such Guarantor in connection with such payment; and (c) “Contribution Share” shall mean, for any Guarantor in respect of any Excess Payment made by any other Guarantor, the ratio (expressed as a percentage) as of the date of such Excess Payment of (i) the amount by which the aggregate present fair salable value of all of its assets and properties exceeds the amount of all debts and liabilities of such Guarantor (including contingent, subordinated, unmatured, and unliquidated liabilities, but excluding the obligations of such Guarantor hereunder) to (ii) the amount by which the aggregate present fair salable value of all assets and other properties of the Loan Parties other than the maker of such Excess Payment exceeds the amount of all of the debts and liabilities (including contingent, subordinated, unmatured, and unliquidated liabilities, but excluding the obligations of the Loan Parties) of the Loan Parties other than the maker of such Excess Payment; provided, however, that, for purposes of calculating the Contribution Shares of the Guarantors in respect of any Excess Payment, any Guarantor that became a Guarantor subsequent to the date of any such Excess Payment shall be deemed to have been a Guarantor on the date of such Excess Payment and the financial information for such Guarantor as of the date such Guarantor became a Guarantor shall be utilized for such Guarantor in connection with such Excess Payment. This Section 10.06 shall not be deemed to affect any right of subrogation, indemnity, reimbursement or contribution that any Guarantor may have under Law against the Borrower in respect of any payment of Obligations.

  • Performance Milestone means an act or event specified in section 5.1 and described in section 9 of the EPLA.

  • Payment Schedule ’ means a schedule which sets out—

  • Payment Year means the calendar year during which the applicable Initial Year Payments or Annual Payments are due pursuant to subsection V.B. Payment Year 1 is 2022, Payment Year 2 is 2023 and so forth. References to payment “for a Payment Year” mean the Initial Year Payments or Annual Payment due during that year. References to eligibility “for a Payment Year” mean eligibility in connection with the Initial Year Payments or Annual Payment due during that year.

  • Milestone Payment Date has the meaning set forth in Section 2.4(a).

  • Milestone means an event or task described in the Implementation Plan which must be completed by the corresponding date set out in such plan;

  • Payout Amount means the vested portion of the Final Amount expressed as an amount of cash equal to the Fair Market Value of the shares of Stock underlying the RSUs and related Dividend Equivalents.

  • Minimum Payment Due means the least payment amount, specified in the “Statement of Account”, required to be paid by the “Principal Cardholder” on or before the “Payment Due Date” in order to keep the “Card Account” active. “Past Due Amount” from previous “Billing Cycle” will form part of the “Minimum Payment Due”.

  • Payment request means any request for contract financing payment or invoice payment submitted by the contractor under this contract.

  • Milestone 2 means achievement of annual Net Sales of at least $35,000,000 during any Calendar Year ending on or before December 31, 2024.

  • Milestone Date means the date set against the relevant Milestone in the Implementation Plan;

  • Delta Payment means as it is described in this Agreement.

  • Milestone Dates means the dates for completion of specified Project activities as contained in the Project Schedule.

  • Bonus Payment means a cash payment in an amount equal to the sum of (i) all Excise Taxes payable by the Executive, plus (ii) all additional Excise Taxes and federal or state income taxes to the extent such taxes are imposed in respect of the Bonus Payment, such that the Executive shall be in the same after-tax position and shall have received the same benefits that he would have received if the Excise Taxes had not been imposed. For purposes of calculating any income taxes attributable to the Bonus Payment, the Executive shall be deemed for all purposes to be paying income taxes at the highest marginal federal income tax rate, taking into account any applicable surtaxes and other generally applicable taxes which have the effect of increasing the marginal federal income tax rate and, if applicable, at the highest marginal state income tax rate, to which the Bonus Payment and the Executive are subject. An example of the calculation of the Bonus Payment is set forth below. Assume that the Excise Tax rate is 20%, the highest federal marginal income tax rate is 40% and the Executive is not subject to state income taxes. Further assume that the Executive has received an excess parachute payment in the amount of $200,000, on which $40,000 ($200,000 x 20%) in Excise Taxes are payable. The amount of the required Bonus Payment is thus computed to be $100,000, i.e., the Bonus Payment of $100,000, less additional Excise Taxes on the Bonus Payment of $20,000 (i.e., 20% x $100,000) and income taxes of $40,000 (i.e., 40% x $100,000), yields $40,000, the amount of the Excise Taxes payable in respect of the original excess parachute payment.

  • Milestone Payment has the meaning set forth in Section 4.2.

  • Development Milestone Payment shall have the meaning set forth in Section 9.2(a).

  • Payment Ahead means, with respect to a Precomputed Receivable and a Collection Period, any Excess Payment (not representing, when added to any Deferred Prepayment with respect to such Precomputed Receivable, a prepayment in full of such Precomputed Receivable) which the Servicer, in accordance with its customary servicing practices, will apply towards the payment of Scheduled Payments due in one or more future Collection Periods.

  • Premium payment plan means a benefit plan whereby school em- ployees may pay their share of group health plan premiums with pretax dollars as provided in the salary reduction plan under chapter 41.05 RCW pursuant to 26 U.S.C. Sec. 125 or other sections of the Internal Revenue Code.

  • Payment Cap For each Mortgage Loan, the percentage limit set forth in the related Mortgage Note concerning the maximum permitted increase in a monthly payment.

  • Additional Payment has the meaning given in clause 11.1 (Right to repay the Facility early).

  • Earnout Payment has the meaning set forth in Section 2.3(b).

  • Sales Milestone Payment shall have the meaning set forth in Section 8.4.

  • Basic Rent Payment Date means Basic Rent Payment Date as defined in Paragraph 6.

  • Project Milestone means the project milestone set forth in Schedule-J;