Compensation Reimbursement Etc Sample Clauses
The 'Compensation, Reimbursement, etc.' clause outlines the terms under which one party will pay another for services rendered, expenses incurred, or losses suffered in connection with the agreement. Typically, this clause specifies the types of compensation or reimbursement allowed, the process for submitting claims or invoices, and any limitations or exclusions that apply. Its core function is to ensure that parties are fairly compensated for their contributions and that there is a clear, agreed-upon process for handling payments and reimbursements, thereby reducing disputes over financial matters.
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Compensation Reimbursement Etc. (a) Pursuant to the Contribution and Servicing Agreement, the Servicer has agreed:
(i) to pay to the Trustee from time to time such compensation for all services rendered by it hereunder as the Servicer and the Trustee have agreed in writing prior to the Closing Date (which compensation shall not be limited by any provision of law in regard to the compensation of a trustee of an express trust), such payment to be made independent of the other payment obligations of the Servicer hereunder;
(ii) except as otherwise expressly provided herein, to reimburse the Trustee upon its request for all reasonable expenses, disbursements, and advances incurred or made by the Trustee in accordance with any provision of this Indenture (including the reasonable compensation and the expenses and disbursements of its agents and counsel), except any such expense, disbursement, or advance as may be attributable to its negligence or bad faith;
(iii) to pay the Trustee its annual administrative fee on the Closing Date;
(iv) to pay the reasonable fees and expenses of Trustee's counsel on the Closing Date; and
(v) to pay the reasonable annual administrative fee of each Lock-Box Bank.
(b) The Trustee hereby acknowledges and agrees that if the Servicer fails to pay the amounts set forth in Section 7.06(a) of this Indenture, the Trustee will continue to perform its obligations under this Indenture, regardless of the Servicer's failure to pay such amounts, until the appointment of a successor Trustee reasonably satisfactory to the Noteholders in accordance with Section 7.08 of this Indenture; PROVIDED, HOWEVER, that in such event, the Trustee shall withhold amounts otherwise payable to it pursuant to Section 7.06(a) hereof from amounts payable to the Servicer pursuant to Section 3.04(b)(i).
Compensation Reimbursement Etc. The Servicer agrees:
(a) to pay to the Trustee from time to time such compensation for all services rendered by it hereunder as the Issuer and the Trustee may agree in writing (which compensation shall not be limited by any provision of law in regard to the compensation of a trustee of an express trust); and
(b) to reimburse the Trustee upon its request, for all reasonable expenses, disbursements, and advances incurred or made by the Trustee in accordance with any provision of this Indenture (including the reasonable compensation and the expenses and disbursements of its agents and counsel), except any such expense, disbursement, or advance as may be attributable to its negligence or bad faith.
Compensation Reimbursement Etc. Subject to Section 3.04(c) of the Sales and Servicing Agreement, the Company agrees:
(a) to pay to the Trustee from time to time, solely from and only to the extent that amounts are available, such compensation for all services rendered by it hereunder as the Company and the Trustee may agree in writing (which compensation shall not be limited by any provision of law in regard to the compensation of a trustee of an express trust); and
(b) except as otherwise expressly provided herein, to reimburse the Trustee upon its request, solely from and only to the extent that amounts are available under clause twelfth of Section 3.03(b) or clause first of Section 6.06(a), for all reasonable expenses, disbursements, and advances incurred or made by the Trustee in accordance with any provision of this Indenture (including the reasonable compensation and the expenses and disbursements of its agents and counsel), except any such expense, disbursement, or advance as may be attributable to its negligence or bad faith.
Compensation Reimbursement Etc. Subject to completion of the Spin-off, and commencing on the Distribution Date, the Employer shall provide the Employee the following compensation and benefits:
Compensation Reimbursement Etc. (a) The Company shall pay to Executive as compensation for all services rendered by Executive during the term of this Agreement a basic annualized salary of $85,800.00 per year (the "Basic Salary"), or such other sums as the Board of Directors of the Company and Executive may agree on from time to time, payable monthly or in other more frequent installments, as determined by the Company, subject to all standard withholding practices and procedures of the Company. The Board of Directors of the Company shall have the right to increase Executive's compensation from time to time by action of the Board of Directors. For the period commencing January 1, 2000 through the date of this Agreement, Executive will be paid a prorated share of the "Total Target Bonus" set forth on Annex I attached hereto, payable on such date as the Board of Directors may determine on or before December 31, 2001. In addition, the Board of Directors of the Company, in its discretion, may, with respect to any year during the term hereof, award a bonus or bonuses to Executive. The compensation provided for in this Section 3(a) shall be in addition to any 401(k), pension or profit sharing payments set aside or allocated for the benefit of Executive.
(b) The Company shall reimburse Executive for all reasonable expenses incurred by Executive in the performance of his duties under this Agreement; provided, however, that Executive must furnish to the Company an itemized account, satisfactory to the Company, in substantiation of such expenditures.
(c) Executive shall be entitled to such fringe benefits including, but not limited to, medical and insurance benefits as may be provided from time to time by the Company to other senior officers of the Company.
Compensation Reimbursement Etc. The Issuer agrees:
(i) to pay to the Indenture Trustee from time to time such compensation for all services rendered by it hereunder as the Issuer and the Indenture Trustee have agreed in writing prior to the Closing Date (which compensation shall not be limited by any provision of law in regard to the compensation of a trustee of an express trust), such payment to be made independent of the other payment obligations of the Issuer hereunder; and
(ii) except as otherwise expressly provided herein, to reimburse the Indenture Trustee upon its request for all reasonable expenses, disbursements, and advances incurred or made by the Indenture Trustee in accordance with any provision of this Indenture (including the reasonable compensation and the expenses and disbursements of its agents and counsel), except any such expense, disbursement, or advance as may be attributable to its negligence or bad faith.
Compensation Reimbursement Etc. (a) of the Employment Agreement shall be replaced in its entirety as follows:
Compensation Reimbursement Etc. Subsections (a), (b) and (c) of the Employment Agreement shall be replaced in their entirety as follows:
Compensation Reimbursement Etc. (a) The amount of the "Trustee Fee" which the Trustee shall be entitled to receive on each Payment Date following the Issuance of the Receivables Notes shall be determined by multiplying the (i) Discounted Present Value of Performing Leases as of the prior Payment Date times (ii) one-twelfth of ____%. The amount of the "Residual Trustee Fee" which the Trustee shall be entitled to receive on each Payment Date following the issuance of the Residual Notes shall be determined by multiplying (i) the Booked Residual Values as of the prior Payment Date for all Performing Leases times (ii) one-twelfth of ____%.
(b) Except as otherwise expressly provided herein, to reimburse the Trustee upon its request, solely from and only to the extent that amounts are available to the Issuer under Section 3.03(b) or Section 3.04(b) or payable to the Trustee under clause first of Section 6.06 or clause first of Section 6.13), for all reasonable expenses, disbursements, and advances incurred or made by the Trustee in accordance with any provision of this Indenture (including the reasonable compensation and the expenses and disbursements of its agents and counsel), except any such expense, disbursement, or advance as may be attributable to its negligence or bad faith.
Compensation Reimbursement Etc. (a) The basic compensation to the Employee shall be initially payable (bi-weekly) based upon calendar year annual compensation of $60,000.
(b) The Employer shall provide the Employee with an automobile. In addition, the Employer shall also pay all related automobile expenses, including but not limited to maintenance, repairs, insurance and other costs. The Employee shall submit to the Employer on a monthly basis an automobile expense report.
(c) The Employee may incur reasonable expenses for travel, meals and lodging in connection with the performance of his duties hereunder. The Employer will reimburse the Employee for all such expenses upon the Employee's periodic presentation of an itemized account of such expenditures.
(d) The Employee shall be eligible to receive an annual bonus equal to five percent (5%) of the net earnings before taxes attributable to the stores within the Northern Division (initially covering Alachua and Levy County). Such bonus shall be calculated for each period ended as of December 31 covered by the term of this Agreement and shall be payable to the Employee no later than the following June 30.
(e) The Employee shall be entitled to such other benefits (e.g., health, life or disability insurance) as may be provided from time to time by the Employer to other management employees of the Employer. However, it is agreed that Employee may obtain his own medical policy and Employer will pay the cost of such policy up to $225.00.