Pay Off. The following provisions establish the methods for application of sick leave benefits in conjunction with other benefits:
Pay Off. In the event that circumstances associated with this position change or preclude such usage, faculty who retire, resign or transfer shall, at the time of such retirement, resignation, or transfer, be compensated3 for their annual leave as follows: • Depending on when the employee retires, resigns or transfers during the fiscal year (i.e., his/her length of service during the fiscal year), the employee will be paid his/her unused accumulated Annual Leave from the prior fiscal year which is carried forward to July 1, and a pro-rated amount of his/her unused Annual Leave hours for the current fiscal year maximum payout of 200 hours.
Pay Off. The Company will, upon the request of the Buyer, cooperate with the Buyer in arranging the pay-off or refinancing of any indebtedness of the Company set forth in Schedule 6.15 which the Buyer, in its business discretion, desires to pay off or refinance in connection with the consummation of the transactions contemplated hereby.
Pay Off. The Borrower agrees that, on the closing date of the IPO, subject to the closing of the IPO, the Borrower will pay to the Lender, via wire transfer of immediately available funds using the wire instructions set forth on Exhibit A hereto, the Pay-Off in amount of $10,000,000, which amount will reduce dollar for dollar the principal amount outstanding and owing to the Lender under the Convertible Debentures.
Pay Off. In the event that circumstances associated with this position change or preclude such usage, faculty who retire, resign or transfer shall, at the time 1 An employee on unpaid leave as of July 1 will – upon returning to payroll – receive a prorated Annual Leave Lump Sum Allotment. of such retirement, resignation, or transfer, be compensated3 for their annual leave as described in 27.§1.2.2.1.
Pay Off. Prior to the Effective Time, the Company shall (a) deliver (or cause to be delivered) notices of prepayment and/or termination of the Credit Agreement and (b) deliver to Parent (i) an executed pay-off letter (in form and substance reasonably satisfactory to Parent) (the “Pay-Off Letter”) from the Administrative Agent (as defined in the Credit Agreement) in respect of the Credit Agreement at least one (1) business day prior to Closing and (ii) a draft of such Pay-Off Letter not fewer than five (5) business days prior to the contemplated Effective Time together with drafts of lien terminations and instruments of discharge with respect to the capital stock, property and assets of the Company and its Subsidiaries securing their obligations under the Credit Agreement (other than any obligation which, pursuant to the terms of the Credit Agreement, expressly survives termination). Notwithstanding anything to the contrary in this Agreement, (i) in no event shall this Section 5.12 require the Company or any of its Subsidiaries to repay any portion of, or terminate, the Credit Agreement unless the Closing shall have occurred and (ii) Parent shall provide, or cause to be provided, all funds (after taking into account any cash of the Acquired Companies used to effect repayment under the Credit Agreement as contemplated by this Agreement) required substantially concurrently with the Closing to effect the repayment under the Credit Agreement.
Pay Off. In the event that circumstances associated with this position change preclude such usage, faculty shall, at the time of such retirement, resignation, or transfer, be compensated for their accrued annual leave. The department chairpersons shall determine, in consultation with the faculty member, the amount of accrued annual leave that may be paid off in lieu of annual leave wages.
Pay Off. The Parent shall have made arrangements in form and substance satisfactory to Lender to pay in full the Hercules Credit Facility on or prior to the Effective Date from the proceeds of the Loan (net of any original issue discount, fees and expenses), terminate the Hercules Credit Facility and ensure the prompt release of collateral thereunder.
Pay Off. As of the 30th Amendment Effective Date, all obligations under the Term Loan Agreement and the Existing Indenture (including any notes issues pursuant thereto) (each term, as defined in the First Lien ISDA Master Agreement immediately prior to giving effect to this Amendment) have been paid off in full, repurchased and canceled or satisfied and discharged, in each case to the extent necessary to release the liens granted to secure such obligations.
