Acceleration of Payment. Notwithstanding anything to the contrary contained in this Agreement, the Committee shall have the right, at any time in its sole discretion, to accelerate the time of a payment under this Agreement to a time otherwise permitted under Section 409A in accordance with the requirements, restrictions and limitations of Treasury Regulation Section 1.409A-3(j).
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. (a) If any Trigger Event occurs prior to the date on which Purchaser pays the Second Cash Payment to Seller, the Second Cash Payment shall become immediately due and payable on the date of such Trigger Event. If any Trigger Event described in clauses (ii) through (vi) of Section 1.9(b) below occurs prior to Purchaser’s payment of a Milestone to Seller, any such unpaid Milestone shall become immediately due and payable on the date of such Trigger Event.
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. 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.
Acceleration of Payment. If Tenant shall fail to pay any monthly installment of Rent pursuant to the terms of this Lease, within five (5) days of the date when each such payment is due, for three (3) consecutive months, or three (3) times in any period of twelve (12) consecutive months, then Landlord may, by giving written notice to Tenant, exercise any of the following options: (A) declare the entire rent reserved under this Lease to be due and payable within ten (10) days of such notice; (B) declare the rent reserved under this Lease for the next six (6) months (or at Landlord's option for a lesser period) to be due and payable within ten (10) days of such notice; or (C) require an additional security deposit to be paid to Landlord within ten (10) days of such notice in an amount not to exceed six (6) months rent. Landlord may invoke any of the options provided for herein at any time during which an Event of Default remains uncured.
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. 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. 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. If the Notes become immediately due and payable pursuant to Section 8.01 of the Credit Agreement, then all liability of each Guarantor under this Guaranty in respect of any Guaranteed Obligation that is not then due and payable shall thereupon become and be immediately due and payable, without notice or demand.
