Cash Retention Sample Clauses

Cash Retention. Unless otherwise specified in the Letter of Intent or Work Order or Subcontract, an amount equivalent to 10% (ten percentage) of the gross value (including escalation payable, if any) of all invoices, running account xxxx / interim progress xxxx shall be deducted from all invoices / running account / interim progress bills towards Cash Retention. The retention money so withheld shall be returned without interest to the Subcontractor / PRW after completion of Defect Liability Period and Subcontractor / PRW’s fulfilling all its obligations, duties, responsibilities and liabilities under this Work Order / Subcontract and signing of ‘No Claim Certificate’ as per the format of the Company. In case of failure on the part of the Subcontractor / PRW to remedy the defects, the Company reserves its right to utilize this retention amount for carrying out the rectification works or discharging obligations, duties, responsibilities or liabilities of the Subcontractor / PRW and for this purpose the Company shall also have the right to invoke Cross Fall Breach and Set Off provisions of Clause 24.
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Cash Retention. A lump sum cash payment equal to $242,000, less all applicable authorized and required deductions and withholdings (the “Cash Retention”); and
Sample 1See All (4)
Cash Retention. You will be eligible to receive cash retention payments totaling up to $109,756 (the “Potential Retention Amount”), to be payable, if at all, as follows: •50% of the Potential Retention Amount ($54,878) will be payable if you remain employed by the Company through execution of an agreement providing for the merger or consolidation of the Company (or a wholly owned subsidiary of the Company) with a non-affiliate third-party (the “Merger Transaction”); and •50% of the Potential Retention Amount ($54,878) will be payable if you remain employed by the Company on the date of the closing of the Merger Transaction. The Company will pay any portion of the Potential Retention Amount that becomes payable, less all applicable taxes and withholdings, as a lump sum payment on the first regularly scheduled payroll date following the date on which such portion of the Potential Retention Amount becomes payable. If you cease to be employed by the Company for any reason prior to the date on which any portion of the Potential Retention Amount becomes payable, then you will not be eligible to receive such portion(s) of the Potential Retention Amount.
Sample 1
Cash Retention. If the Compensation Committee of the Board, in its sole discretion, determines that you have achieved the Retention Goals referenced in subsection (iii) below before December 31, 2012, with such determination to be made on or before January 31, 2013, then you shall be paid a cash retention payment of $150,000, minus customary deductions for federal and state taxes and the like. Any cash retention payment to which you are determined to be entitled shall be paid to you no later than March 15, 2013.
Sample 1
Cash Retention. The Representing Sellers shall cause the Company and Trinity India as a whole, and in addition to the existing net working capital reflected in the Company's Interim Financial Statements, to retain as cash in hand, net of Selling Expenses and any unreserved Taxes, penalties and fines, at least United States $2.1 million on the Closing Date. The remainder amounts possessed by the Company on the Closing Date after setting aside the aforesaid amounts shall be paid to the Sellers.
Sample 1
Cash Retention. On the Effective Date, and on each of the second and third anniversaries of the Effective Date, the Company shall pay Executive $333,333, to the extent the Executive remains in the employ of the Company on such dates. Retention payments provided in this Agreement in no way affect the Executive's eligibility for any cash short-term incentive programs which the Board may put into place for the Company's executive officers. If, prior to the first anniversary of the Effective Date, the Executive's employment is terminated by (i) the Company for Cause (as defined in Section 6.3) or (ii) the Executive without Good Reason (as defined in Section 6.4), then the Executive shall repay to the Company, within five (5) days of such termination of employment, a lump sum amount equal to the product of (x) and (y), where (x) is the after-tax amount received from the Company in respect of the first retention payment and (y) is a fraction, the numerator of which shall be the number of days between the date of the Executive's termination of employment and the first anniversary of the Effective Date and the denominator of which shall be 365.
Sample 1
Cash Retention. Prior to the finalization of the Estimated Working Capital Statement, the Company shall comply with the restrictions set forth in Section 6.2(l); provided, however, that the Company shall be entitled to declare and pay cash dividends to the Sellers to the extent required to enable Sellers to pay Federal, state and/or local income Taxes that result from net income of the Company (or reasonable estimates thereof) being passed through to the Sellers. From and after the finalization of the Estimated Working Capital Statement and until the later of (x) the close of business on the day preceding the Closing Date and (y) the finalization of the Estimated Working Capital Statement, the Company shall be entitled to declare and pay cash dividends to the Sellers, but only to the extent that the such dividends do not cause the Target Working Capital to exceed the Estimated Working Capital.
Sample 1
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Cash Retention 
Sample 1

Related to Cash Retention

  • Risk Retention The Equityholder hereby covenants, for the benefit of the Administrative Agent, the Lenders, the Collateral Agent and, in respect of paragraphs (d) and (e) below only, the Servicer that, for so long as any Advance remains outstanding: (a) it will retain, as originator, on an ongoing basis, a material net economic interest in the form specified in paragraph (d) of Article 6(3) of the Securitisation Regulation, being retention of the first loss tranche and, if necessary, other tranches having the same or a more severe risk profile than those transferred or sold to investors and not maturing any earlier than those transferred or sold to investors, through maintaining funding to the Borrower under the LLC Agreement, in an amount equal to not less than 5% of the Retention Basis Amount (such net economic interest being the “Retention”); (b) neither it nor any of its Affiliates will sell, hedge or otherwise mitigate its credit risk under or associated with the Retention where to do so would cause the transaction contemplated by the Facility Documents to cease to be compliant with the EU Retention Requirements; (c) it will take such further action, provide such information as is in its possession (provided that the provision of such information would not contravene any applicable contract, law or regulation or duties of confidentiality binding on the Equityholder) and enter into such other agreements, in each case, as may reasonably be required by the Borrower, a Lender or the Administrative Agent to satisfy the EU Retention Requirements; (d) it will confirm to each of the Borrower, the Administrative Agent, the Servicer, each Lender and the Collateral Agent, its continued compliance with the covenants set out at paragraphs (a) and (b) above in each Monthly Report; (e) it will promptly notify the Borrower, the Administrative Agent, the Servicer, each Lender and the Collateral Agent in writing if for any reason it fails to comply with either of the covenants set out in paragraphs (a) or (b) above in any way; and (f) it will notify each of its Affiliates of the contents of paragraph (b) above and shall use reasonable endeavours to procure that each of its Affiliates complies with the terms of paragraph (b) as if it were a party thereto. Notwithstanding anything to the contrary contained herein, neither the Equityholder nor the Borrower makes any representation as to compliance of the transaction or any of the parties hereto with respect to Securitisation Regulation. Any Person accepting the benefits of this Section 13.22 and/or Section 13.23 below (including any related definitions or provisions), shall be deemed to have agreed to the terms set forth in this paragraph and each Lender hereby represents that is not relying on any of the Borrower, the Servicer or the Equityholder or any of their respective Affiliates, for any financial, tax, legal, accounting, or regulatory advise in connection with the matters set forth in this Section 13.22 and/or Section 13.23 below.

  • Final Retention Subject to the provisions of this Work Letter, a check for the Final Retention payable jointly to Tenant and Contractor, or directly to Contractor at Landlord’s sole discretion, shall be delivered by Landlord to Tenant within thirty (30) days following the completion of construction of the Improvements, provided that (i) Tenant delivers to Landlord (a) paid invoices for all Improvements and related costs for which the Improvement Allowance is to be dispersed, (b) signed permits for all Improvements completed within the Premises, (c) properly executed unconditional mechanics lien releases in compliance with both California Civil Code Section 8134 and either Section 8136 or Section 8138 from Tenant’s contractor, subcontractors and material suppliers and any other party which has lien rights in connection with the construction of the Improvements, (ii) Landlord has determined that no substandard work exists which adversely affects the mechanical, electrical, plumbing, heating, ventilating and air conditioning, life-safety or other systems of the Building, the curtain wall of the Building, the structure or exterior appearance of the Building, or any other tenant’s use of such other tenant’s leased premises in the Building, (iii) Architect delivers to Landlord a “Certificate of Substantial Completion”, in a form reasonably acceptable to Landlord, certifying that the construction of the Improvements in the Premises has been substantially completed, (iv) Tenant delivers to Landlord a “close-out package” in both paper and electronic forms (including, as-built drawings, and final record CADD files for the associated plans, warranties and guarantees from all contractors, subcontractors and material suppliers, and an independent air balance report); and (v) a certificate of occupancy, a temporary certificate of occupancy or its equivalent is issued to Tenant for the Premises.

  • Period of Retention All books, records, reports, and statements relevant to this Contract must be retained a minimum three years and for five years if any federal funds are used under this Contract. The retention period runs from the date of payment for the relevant goods or services by the City, or from the date of termination of this Contract, whichever is later. Retention time shall be extended when an audit is scheduled or in progress for a period reasonably necessary to complete an audit and/or to complete any administrative and judicial litigation which may ensue.

  • Final Compensation Final Compensation for an employee, who is employed by the State for the first time and becomes a member of CalPERS prior to January 15, 2011, is based on the highest average monthly pay rate during twelve (12) consecutive months of employment. Final Compensation for an employee, who is employed by the State for the first time and becomes a member of CalPERS on or after January 15, 2011, is based on the highest average monthly pay rate during thirty-six (36) consecutive months of employment.

  • Document Retention The Firm shall maintain for review by Citizens any documentation, receipts, files, invoices and time-keeping records in support of all disbursements for at least three (3) years after the file is closed by the Firm. Additional document retention requirements may be specified in the Firm’s Contract for Legal Services with Citizens. Citizens will not honor fees or expenses associated with audit preparation, proceedings or resolution, unless the expenses are requested and pre-approved by Citizens (i.e. copying services, delivery services, etc.).

  • Progress Payments; Retainage A. Owner shall make progress payments on account of the Contract Price on the basis of Contractor’s Applications for Payment on or about the first day of each month during performance of the Work as provided in Paragraph 6.02.A.1 below, provided that such Applications for Payment have been submitted in a timely manner and otherwise meet the requirements of the Contract. All such payments will be measured by the Schedule of Values established as provided in the General Conditions (and in the case of Unit Price Work based on the number of units completed) or, in the event there is no Schedule of Values, as provided elsewhere in the Contract. 1. Prior to Substantial Completion, progress payments will be made in an amount equal to the percentage indicated below but, in each case, less the aggregate of payments previously made and less such amounts as Owner may withhold, including but not limited to liquidated damages, in accordance with the Contract a. 95 percent of Work completed (with the balance being retainage). If the Work has been 50 percent completed as determined by Engineer, and if the character and progress of the Work have been satisfactory to Owner and Engineer, then as long as the character and progress of the Work remain satisfactory to Owner and Engineer, there will be no additional retainage; and

  • Payment of Reinsurance Premiums For automatic and facultative reinsurance, following the close of each calendar month, the Ceding Company will send the Reinsurer a statement and a listing of new business, changes and terminations. If a net reinsurance premium balance is payable to the Reinsurer, the Ceding Company will forward this balance within (60) sixty days after the close of each month. If a net reinsurance premium balance is payable to the Ceding Company, the balance due will be subtracted from the reinsurance premium payable by Ceding Company for the current month. The Reinsurer shall pay any remaining balance due the Ceding Company sixty days after the Ceding Company submits the statement.

  • Award and Insurance Benefits Borrower shall cooperate with Lender in obtaining for Lender the benefits of any Awards or Insurance Proceeds lawfully or equitably payable in connection with the Property, and Lender shall be reimbursed for any expenses incurred in connection therewith (including attorneys’ fees and disbursements, and the payment by Borrower of the expense of an appraisal on behalf of Lender in case of Casualty or Condemnation affecting the Property or any part thereof) out of such Insurance Proceeds.

  • Performance Bonuses The Executive will be eligible to receive an annual cash bonus at an annualized rate of up to 40% of his base salary, based on the achievement of reasonable individual and Company performance targets to be established by the Company and Parent.

  • Annual Vacation Entitlement (a) An Employee shall be entitled to receive annual vacation leave with pay: (i) each year during her first forty-eight (48) months of service at the rate of one and one-quarter (1 1/4) days for each month of service; and (ii) each year after forty-eight (48) months of service at the rate of one and two-thirds (1 2/3) days for each month of service; and (iii) each year after one hundred and sixty-eight (168) months of service at the rate of two and one-twelfth (2-1/12) days for each month of service; and (iv) each year after two hundred and eighty-eight (288) months of service at the rate of two and one half (2 ½) days for each month of service. (b) An Employee who, as of February 19, 2001, has earned entitlement to more vacation than provided for in Article 17.01(a) of the collective agreement by virtue of her terms and conditions of employment with a predecessor employer shall retain that entitlement. Any future increase in vacation entitlement for such Employees shall be pursuant to Article 17.01(a).

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