Cash (Optional Sample Clauses

The "Cash (Optional)" clause allows one or both parties in a contract to choose to settle certain obligations using cash instead of another form of payment or performance. In practice, this might mean that a party can opt to pay a specified amount of money rather than delivering goods, services, or other assets as originally agreed. This clause provides flexibility in fulfilling contractual duties and can simplify transactions by offering a straightforward cash alternative, thereby reducing complexity and potential disputes over non-cash performance.
Cash (Optional. Represented employees may allocate a portion of their Cafeteria Plan Allotment to a taxable cash payment. These payments will be paid to employees on a pro-rata accrual two times per benefit year.
View SourceView Similar (5)
Cash (Optional. Represented employees may allocate a portion of their Cafeteria Plan allotment to a taxable cash payment. These payments will be paid to employees on a pro-rata basis two times per benefit year. Effective calendar year 2018, the maximum cash option will be $8,000. Effective calendar year 2019, the maximum cash option will be $4,000.
View SourceView Similar (2)
Cash (Optional. A. Employees hired by the City into a permanent benefited position on or before December 31, 2018: Represented employees may allocate a portion of their Cafeteria Plan Allotment to a taxable cash payment. These payments will be paid to employees on a pro-rata accrual the first two pay checks of each month (24 times per calendar year). • Max cash out for 2019 will be $10,764 • Max cash out for 2020 will be $9,600 B. Employees hired by the City into a permanent benefited position on or after January 1, 2019 shall have no cash out. C. The City provides a cafeteria plan that permits a cash-out of unused cafeteria benefits. The cafeteria plan and the cash-out are permitted under both the FLSA and IRC. However, should there be any litigated case, court opinion or decision, or U.S. Department of Labor (or similar administrative entity) administrative opinion or decision (whether or not they involve the City as a party) that finds or determines that the cafeteria plan or cash-out is improper, results in an increase in the regular rate of pay, or invalidates the plan’s IRC Section 125 tax exemption, then the cash-out will immediately terminate and the City shall offer a special open enrollment period for impacted employees.
View Source

Related to Cash (Optional

  • CASH SETTLEMENT OPTION The undersigned Existing Tranche C Term Lender hereby irrevocably and unconditionally approves of, and consents to, the Amendment and having 100% of the outstanding principal amount of the Tranche C Term Loans held by such Existing Term Lender repaid on the Third Amendment Effective Date and to purchase by assignment Tranche D Term Loans in a like principal amount. By choosing this option, each undersigned Lender hereby acknowledges and agrees that the Administrative Agent may, in its sole discretion, elect not to allocate to such Lender or to allocate less than 100% of the principal amount of such Lender’s Tranche C Term Loans in Tranche D Term Loans. Northwoods Capital XIV, Limited By: ▇▇▇▇▇▇, ▇▇▇▇▇▇ & Co., LP As Collateral Manager By: /s/ ▇▇▇▇▇▇▇ ▇’▇▇▇▇▇▇ Name: ▇▇▇▇▇▇▇ ▇’▇▇▇▇▇▇ Title: Authorized Signatory ☑ CASHLESS ROLLOVER OPTION Each undersigned Existing Tranche C Term Lender hereby irrevocably and unconditionally approves of, and consents to, the Amendment and the exchange (on a cashless basis) of 100% of the outstanding principal amount of the Tranche C Term Loans held by such Lender for a Tranche D Term Loan in a like principal amount. By choosing this option, each undersigned Lender hereby acknowledges and agrees that the Administrative Agent may, in its sole discretion, elect not to exchange any amount of such Lender’s Tranche C Term Loans for Tranche D Term Loans or to exchange (on a cashless basis) less than 100% of the principal amount of such Lender’s Tranche C Term Loans for Tranche D Term Loans, in which case the difference between the current principal amount of such Lender’s Tranche C Term Loans and the allocated principal amount of Tranche D Term Loans will be prepaid on, and subject to the occurrence of, the Third Amendment Effective Date.

  • Optional Redemption in Cash The Borrower will have the option of prepaying this Note ("OPTIONAL REDEMPTION") by paying to the Holder a sum of money equal to one hundred thirty percent (130%) of the outstanding principal amount of this Note at the time of prepayment, together with accrued but unpaid interest thereon and any and all other sums due, accrued or payable to the Holder arising under this Note, the Purchase Agreement or any Related Agreement (the "REDEMPTION AMOUNT") outstanding on the day written notice of redemption (the "NOTICE OF REDEMPTION") is given to the Holder. The Notice of Redemption shall specify the date for such Optional Redemption (the "REDEMPTION PAYMENT DATE") which date shall be seven (7) business days after the date of the Notice of Redemption (the "REDEMPTION PERIOD"). A Notice of Redemption shall not be effective with respect to any portion of this Note for which the Holder has a pending election to convert pursuant to Section 3.1, or for conversions initiated or made by the Holder pursuant to Section 3.1 during the Redemption Period. The Redemption Amount shall be determined as if such ▇▇▇▇▇▇'s conversion elections had been completed immediately prior to the date of the Notice of Redemption. On the Redemption Payment Date, the Redemption Amount must be paid in good funds to the Holder. In the event the Borrower fails to pay the Redemption Amount on the Redemption Payment Date as set forth herein, then such Redemption Notice will be null and void.

  • Optional Payments Subject to Section 3.04, the Company may, at any time or from time to time, upon at least three Business Day’s written notice to the Administrative Agent, ratably prepay Loans in whole or in part, in amounts of $5,000,000 or any multiple of $1,000,000 in excess thereof. Such notice of prepayment shall specify the date and amount of such prepayment and whether such prepayment is of Base Rate Loans, or Offshore Rate Loans, or any combination thereof. Such notice shall not thereafter be revocable by the Company and the Administrative Agent will promptly notify each Bank thereof and of such Bank’s Commitment Percentage of such prepayment. If such notice is given by the Company, the Company shall make such prepayment and the payment amount specified in such notice shall be due and payable on the date specified therein, together with accrued interest to each such date on the amount prepaid and any amounts required pursuant to Section 3.04.

  • Optional Principal Payments 8 Method of Selecting Types and Interest Periods for New Advances..........................................12 2.9 Conversion and Continuation of Outstanding Advances......................................................12 2.10 Changes in Interest Rate, etc...........................................................................12 2.11

  • Payment of Option Price The purchase price of Common Stock upon exercise of this Option shall be paid in full to the Corporation at the time of the exercise of the Option in cash or by the surrender to the Corporation of shares of previously acquired Common Stock which shall have been held by the Participant for at least six (6) months and which shall be valued at Fair Market Value on the date the Option is exercised, or by a combination of cash and such Common Stock.