Suspension of Payment definition

Suspension of Payment has the meaning specified in Section 4.
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Examples of Suspension of Payment in a sentence

  • The use of EFT payment methods is not a substitute for a properly executed assignment of claims in accordance with subpart 32.8. EFT information that shows the ultimate recipient of the transfer to be other than the contractor, in the absence of a proper assignment of claims, is considered to be incorrect EFT information within the meaning of the "Suspension of Payment" paragraphs of the EFT clauses at 52.232-33 and 52.232-34.

  • Information provided to the Contractor's SAM record that indicates payments, including those made by EFT, to an ultimate recipient other than that Contractor will be considered to be incorrect information within the meaning of the ``Suspension of Payment'' paragraph of the EFT clause of this contract.

  • Except as set forth on Schedule 3(t), any real property and facilities held under lease by the Company or any of the Subsidiaries are held by the applicable entity under valid, subsisting and enforceable leases with such exceptions as are not material and do not interfere with the use made and proposed to be made of such property and buildings by the Company and such Subsidiaries.

  • Except to the extent forfeited pursuant to Section 3 for any fiscal quarter in which a Suspension of Payment occurs (each fiscal quarter in which a Suspension of Payment occurs, a “Suspension Quarter”), interest will accrue from the date hereof until the outstanding principal amount is paid or otherwise satisfied in full.

  • Suspension of Payment When Senior Debt in Default...................

  • Suspension of Payment When Senior Indebtedness Is in Default....................................................47 8.03.

  • Contractor is entitled to appeal Suspension of Payment within ten (10) days of receiving the suspension notice.

  • Application for Suspension of Payment to CreditorsOn July 4, 1997, VMC filed with the SEC a Petition for the: (a) Declaration of Suspension of Payment to Creditors, (b) Approval of a Rehabilitation Plan, and (c) Appointment of a MANCOM which was tasked to submit a feasible and viable rehabilitation plan for VMC.

  • Landslides are potentially dangerous and likely to continue to effect SP constructed in mountainous areas.

  • Suspension of Payment When Senior Indebtedness in Default 93 SECTION 1304.

Related to Suspension of Payment

  • Tariff Payment means the payments to be made under Monthly Bills as referred to in Article 10 and the relevant Supplementary Bills;

  • 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.

  • 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.

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

  • 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.

  • Suspension Event As defined in Section 5(b) hereof.

  • 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.

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

  • Final rate of pay means the actual rate upon which earnings of an employee were calculated during the twelve (12) month period immediately preceding the member's effective retirement date, including employee contributions picked up after August 1, 1982, pursuant to KRS 61.560(4). The rate shall be certified to the system by the employer and the following equivalents shall be used to convert the rate to an annual rate: two thousand eighty (2,080) hours for eight (8) hour workdays, nineteen hundred fifty (1,950) hours for seven and one-half (7-1/2) hour workdays, two hundred sixty (260) days, fifty-two (52) weeks, twelve (12) months, one (1) year;

  • 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;

  • daily rate of pay means an employee's weekly rate of pay divided by five (5);

  • 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.

  • 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: a) loadings; b) monetary allowances; c) overtime; and d) penalty rates.

  • Covenant Suspension Event has the meaning assigned to it in Section 3.22(b).

  • hourly rate of pay means an employee's weekly rate of pay divided by thirty-five (35).

  • 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.

  • Debit Payment means a particular transaction where a debit is made.

  • Proof of payment means, as applicable, a copy of the check, confirmation of credit card or debit card payment, or confirmation of wire or automated clearinghouse transfer, and any other information required to demonstrate that payment has been made according to the EPA requirements, in the amount due, and identified with the appropriate docket number and Respondent’s name.

  • Priority of Payments has the meaning specified in Section 9.01(a).

  • Actual QP Rate of Pay means the rate of pay which will be paid to the Agency Worker if and when s/he completes the Qualifying Period, as set out in any variation to the relevant Assignment Details Form;

  • Ordinary rate of pay in Clause 17. - Annual Leave means the average rate the employee received for the four weeks preceding the taking of annual leave or the average rate received for the 12 months preceding such leave, whichever shall be the higher, provided that such average shall be computed taking into consideration any extra rates prescribed for night work, etc., and penalty rates for Sunday work where such work is part of the employee's normal working week of five days but excluding any amounts received by way of overtime or holiday penalty rates.

  • Suspension Period shall have the meaning assigned thereto in Section 2(b).

  • Suspension Date has the meaning set forth in Section 4.18(a).

  • Guarantor of Payment means each of the Companies set forth on Schedule 2 hereof, that are each executing and delivering an Amended and Restated Guaranty of Payment, or any other Person that shall deliver a Guaranty of Payment to Agent subsequent to the Effective Date.

  • Suspension/Withdrawal Event means, in respect of the Benchmark:

  • Downgrade Advance means an Advance made pursuant to Section 2.02(c).