Take or Pay Payments definition

Take or Pay Payments shall have the meaning set forth in Section 6.5.
Sample 1Sample 2
Take or Pay Payments means, as at a particular time, the amounts received or receivable by and for the account of a Purchased Entity prior to such time as a result of which the Purchased Entity has Take or Pay Delivery Obligations which, as at such time, have not been satisfied and have not expired.
Sample 1
Take or Pay Payments means, as at a particular time, the amounts received or receivable by and for the account of the Watford Entities, Watford Energy or Amalco, prior to such time as a result of which the Watford Entities, Watford Energy or Amalco, has Take or Pay Delivery Obligations which, as at such time, have not been satisfied and have not expired.
Sample 1

Examples of Take or Pay Payments in a sentence

  • Termination of this Agreement shall not relieve the parties of any obligation occurring or incurred prior to such termination, nor shall it relieve Misonix from making all Take or Pay Payments and paying to PuriCore the Quarterly Minimum Gross Profit or the aggregate Minimum Gross Profit pursuant to Section 6.5, unless expressly provided otherwise under Section 6.6.

  • If Misonix is (if ever) again permitted to sell Licensed Products, its obligations to make Take or Pay Payments and meet Quarterly Minimum Gross Profit and aggregate Minimum Gross Profit requirements will resume and all such suspended Take or Pay Payments will be paid by Misonix before the end of the Initial Term plus a period of time equal to the time that such Take or Pay Payment have been suspended.

  • In the event that Misonix is manufacturing Licensed Products pursuant to Section 4.9(a), and after Misonix has satisfied the required Take or Pay Payments under this Agreement (as required by Section 4.9(a)), Misonix shall pay PuriCore a royalty (the “Royalty”) of [* * *] percent ([* * *]%) of Net Sales of Licensed Products.

  • If Misonix gains the right to have the Licensed Products manufactured under this Section 4.9 and the aggregate Minimum Gross Profit has not yet been earned by PuriCore, then the Take or Pay Payments will be made regardless of who is manufacturing and supplying the Licensed Product, but such Take or Pay Payments will be suspended until Misonix (or its designee) has been manufacturing the Licensed Products for ninety (90) days.

  • Misonix agrees that it will make Take or Pay Payments no matter what (unless such payments are relieved under Section 6.6 or suspended or relieved under Section 4.9).

  • Except as otherwise provided in Section 6.6, to the extent that purchases of Licensed Products will not achieve the volume levels needed to provide the applicable Quarterly Minimum Gross Profit or the aggregate Minimum Gross Profit, then Misonix will make the Take or Pay Payments.

  • Misonix hereby waives its right to assert against PuriCore or its Affiliates any damage claim for or to offset against Take or Pay Payments, the Quarterly Gross Profit amounts and the aggregate Minimum Gross Profit.

  • The amount of the foregoing adjustment shall be added to amounts due, if any, under the Take or Pay Payments at the end of the Initial Term.

  • All such suspended Take or Pay Payments will be paid by Misonix before the end of the Initial Term plus a period of time equal to the time that such Take or Pay Payments have been suspended.

  • Cumulative Imbalances in Gas Production and "Take or Pay" Payments Schedule 5.27 .


More Definitions of Take or Pay Payments

Take or Pay Payments means, as at a particular time, the amounts received or receivable by and for the account of Invasion prior to such time as a result of which Invasion has Take or Pay Delivery Obligations which, as at such time, have not been satisfied and have not expired.
Sample 1

Related to Take or Pay Payments

  • Reimbursement Payment shall have the meaning given to that term in Subparagraph 2.02(c).

  • Delay Payments means the amounts payable by the Supplier to the Customer in respect of a delay in respect of a Milestone as specified in the Implementation Plan;

  • FILOT Payments means the amount paid or to be paid in lieu of ad valorem property taxes as provided herein.

  • Payments refers to anything of value, including cash, gifts, travel expenses, entertainment, offers of employment, provision of free services, and business meals. It may also include event sponsorships, consultant contracts, fellowship support, job offers, and charitable contributions made at the request of, or for the benefit of, an individual, his or her family, or other relations, even if made to a legitimate charity.

  • Compensation Payment means a payment, whether in monetary form or in the form of a benefit or service, by or on behalf of an insurer to a complainant to compensate the complainant for a proven or estimated financial loss incurred as a result of the insurer’s contravention, non-compliance, action, failure to act, or unfair treatment forming the basis of the complaint, where the insurer accepts liability for having caused the loss concerned, but excludes any –

  • Net Cash Payments means, with respect to any Disposition, the aggregate amount of all cash payments received by the Company and its Restricted Subsidiaries directly or indirectly in connection with such Disposition, whether at the time of such Disposition or after such Disposition under deferred payment arrangements or Investments entered into or received in connection with such Disposition (including, without limitation, Disposition Investments); provided that:

  • Event Payments has the meaning set forth in Section 6.1(d).

  • Administration Expenses Payment means the amount the Administrator will be paid from the Gross Settlement Amount to reimburse its reasonable fees and expenses in accordance with the Administrator’s “not to exceed” bid submitted to the Court in connection with Preliminary Approval of the Settlement.

  • Payments in lieu of contributions means the money payments to

  • Minimum Payments $50 (with respect to all funds in the aggregate.)

  • Reimbursement Amount As defined in Section 2.04.

  • Reimbursement Amounts As defined in Section 3.22.

  • Special Allowance Payments means payments, designated as such, consisting of effective interest subsidies by the Department in respect of the Trust Student Loans to the Eligible Lender Trustee on behalf of the Trust in accordance with the Higher Education Act.

  • Advance Payments means the payments made by Customer in advance of delivery with respect of an Aircraft pursuant to Section 4.2 of the Purchase Agreement.

  • Capitation Payment means a payment the STATE makes periodically to the MCO for each Enrollee covered under the Contract for the provision of services as defined in Article 6 regardless of whether the Enrollee receives these services during the period covered by the payment.

  • Monetary Contribution means that part of the Public Benefits described as “Monetary Contribution” in clause 1 of Schedule 3 to be paid by the Developer to the City in accordance with this document. Occupation Certificate has the same meaning as in the Act.

  • Current Pay Obligation means a Collateral Loan that would otherwise be a Defaulted Loan as to which (i) all scheduled interest and principal payments due (other than those due as a result of any bankruptcy, insolvency, receivership or other analogous proceeding) were paid in Cash and the Borrower or the Services Provider reasonably expects, and delivers to S&P (if S&P is then rating any Loans) a certificate of an Authorized Officer certifying that it reasonably expects, that the remaining scheduled interest and principal payments due will be paid in cash, (ii) the S&P Rating of such Collateral Loan is at least “CCC” and is not on a watch list for possible downgrade; (iii) the Market Value (which is not determined pursuant to clause (d) or subclause (iii) in the proviso of clause (c) of the definition thereof) of such Collateral Loan is at least 80% of par; and (iv) if the Obligor of such Collateral Loan is the subject of a bankruptcy, insolvency, receivership or other analogous proceeding, the bankruptcy court or other authorized official has authorized the payment of interest and/or principal and other amounts due and payable on such Collateral Loan and no such payments that are due and payable are unpaid; provided that to the extent that more than 10.0% of Total Capitalization would otherwise constitute Current Pay Obligations, one or more Collateral Loans (or portions thereof, as applicable) designated by the Borrower having a Maximum Principal Balance at least equal to such excess shall be deemed not to constitute Current Pay Obligations and shall instead constitute Defaulted Loans.

  • Qualified expenses means lost wages not compensated by sick pay and unreimbursed medical expenses as defined for federal income tax purposes, to the extent not deducted in computing federal taxable income, whether or not the taxpayer itemizes federal income tax deductions.

  • Co-payment means a relatively small amount of money paid by the insured person towards the cost of each day in a private hospital per episode of care, with Latrobe paying the rest of the cost.

  • Contingent Compensation Payment means any payment (or benefit) in the nature of compensation that is made or made available (under this Agreement or otherwise) to a “disqualified individual” (as defined in Section 280G(c) of the Code) and that is contingent (within the meaning of Section 280G(b)(2)(A)(i) of the Code) on a Change in Ownership or Control of the Company.

  • Deferred Payments means any severance pay or benefits to be paid or provided to Executive (or Executive’s estate or beneficiaries) pursuant to this Agreement and any other severance payments or separation benefits to be paid or provided to Executive (or Executive’s estate or beneficiaries), that in each case, when considered together, are considered deferred compensation under Section 409A.

  • Incentive Payments means any and all federal or state governmental subsidies, payments, transfers or other benefits, whether now or hereafter established, received by the Borrower in any fiscal year aged less than 120 days.

  • Cash Payment has the meaning set forth in Section 2.02(a).

  • Contingent Payments has the meaning set forth in Section 2.05(b).

  • Non-Cash Compensation Expense means any non-cash expenses and costs that result from the issuance of stock-based awards, partnership interest-based awards and similar incentive based compensation awards or arrangements.

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