Acceleration of Payment. If (a) any Event of Default occurs and notice of demand for payment under this Section 2.3 is given by the Required Lenders to any Guarantor, or (b) any Guarantor becomes a debtor in any bankruptcy case or the subject of any insolvency, reorganization, receivership, dissolution or liquidation proceeding commenced voluntarily by such Guarantor or (if it remains pending for more than 60 days or such Guarantor consents to entry of an order for relief therein) commenced involuntarily against such Guarantor, then (in each such event) all liability of such Guarantor under this Agreement that is not then due and payable shall thereupon become and be immediately due and payable, without notice or demand.
Acceleration of Payment. Upon termination of the Agreement by AltiGen Communications for cause, the due dates of all outstanding invoices for Products will automatically be accelerated so that they become due and payable on the effective date of termination, even if longer terms had been provided previously. All orders or portions of orders remaining un-shipped as of the effective date of such termination shall automatically be canceled.
Acceleration of Payment. Notwithstanding the foregoing Section 2, the Board, in its sole discretion, may accelerate the payment of all or part of the Executive's SERP benefits if so requested by the Executive or, after the Executive's death, by his Beneficiary; provided, however, that any such accelerated payment may be permitted only in case of an unforeseeable emergency (within the meaning of Section 457 of the Internal Revenue Code and the regulations promulgated thereunder) that is caused by an event beyond the control of the Executive or his Beneficiary and that would result in severe financial hardship to such person if accelerated payment were not permitted. Any such accelerated payment shall be limited to the amount necessary to meet or satisfy the emergency.
Acceleration of Payment. The Institution may, only upon the mutual written consent of the Employee, or if deceased, Employee's Beneficiaries, accelerate the payment of any benefits payable under this Agreement. In the event it is agreed to accelerate these payments, the present value of all future payments shall be paid to the Employee or his Beneficiaries. The then current Federal Reserve discount rate which is charged on loans to depository institutions by the New York Federal Reserve Bank shall be used in discounting any payments as determined by the Institution.
Acceleration of Payment. The time or schedule of payment hereunder may be accelerated only upon such events and conditions as the IRS may permit in generally applicable published regulatory or other guidance under Code Section 409A, including, without limitation, payment to a person other than the Executive to the extent necessary to fulfill the terms of a domestic relations order (as defined in Code Section 414(p)(1)(B)) or payment of the amount required to be included in income for the Executive as a result of failure of this Agreement at any time to meet the requirements of Code Section 409A with respect to the Executive.
Acceleration of Payment. Payment of a benefit hereunder may be accelerated if the Company determines such payment to a person other than the Executive is necessary to fulfill the terms of a domestic relations order (as defined in Code Section 414(p)(1)(B)). To the extent permitted under Code Section 409A and applicable treasury regulations and applicable published regulatory or other guidance, the Company may authorize payment of any portion of an Executive's benefit (i) to pay FICA tax imposed on any amounts under this Agreement and/or (ii) at any time that the Agreement fails to meet the requirements of Code Section 409A with respect to the Executive, the amount required to be included in income for the Executive as a result of such failure, and (iii) to otherwise comply with the requirements of Code Section 409A.IN WITNESS WHEREOF, the Executive and a duly authorized Company officer have signed this Agreement.EXECUTIVE: COMPANY: /s/ Christopher T. Holmes THE SOUTH FINANCIAL GROUP, INC. Christopher T. Holmes By: /s/ Mary A. Jeffrey Title: Executive Vice President BENEFICIARY DESIGNATIONTHE SOUTH FINANCIAL GROUPSUPPLEMENTAL EXECUTIVE RETIREMENT AGREEMENTCHRISTOPHER T. HOLMES
Acceleration of Payment. Notwithstanding paragraph 1, or any other provision in this Agreement to the contrary, if Executive’s employment with the Company ends as a result of Executive’s death, disability, or involuntary termination by the Company without cause as approved by the Company’s Board of Managers, then any unpaid portion of the Aggregate Bonus Opportunity amounts shall be paid in a single lump sum within 60 days following Executive’s separation from service with the Company or within 10 days following a change in control of the Company.
Acceleration of Payment. Upon the occurrence of an Insolvency Default, payment of this Note shall be Accelerated automatically and without Notice. Upon the occurrence and during the continuation of any other Event of Default, the Payee may, in the sole exercise of its discretion, elect to cause payment of this Note to be Accelerated by giving Notice of such election to the Makers. Once payment of this Note has been Accelerated, such Acceleration may be revoked only by the Payee, in the sole exercise of its discretion, by giving Notice of revocation to the Makers.
Acceleration of Payment. Upon termination of this Agreement by COLLABRIA under Section 9.1, 9,2, or 9.3 hereof, the due dates of all outstanding invoices to CLRI for Licensed Product(s) will automatically be accelerated so that they become due and payable on the effective date of termination, even if different terms had been previously granted or allowed.
Acceleration of Payment. Except in accordance with Treas. Reg. 1.409A-3(j)(4), any payment made under this Agreement to which Code Section 409A applies may not be accelerated, , i.e., payments may only be made upon the Executive’s separation from service, the Executive becoming disabled, the Executive’s death, at a time or pursuant to a fixed schedule specified in this Agreement, a change of ownership or effective control, or in the ownership of a substantial portion of the assets, or upon an unforeseeable emergency (all as detailed in Treas. Reg. 1.409A-3(a)).