{"component": "clause", "props": {"groups": [{"size": 79, "snippet": "\u201cDeferred Payment\u201d means any severance pay or benefits to be paid or provided to Executive (or Executive\u2019s estate or beneficiaries) pursuant to this Agreement and any other severance payments or separation benefits, that in each case, when considered together, are considered deferred compensation under Section 409A.", "snippet_links": [{"key": "to-executive", "type": "clause", "offset": [78, 90]}, {"key": "pursuant-to-this-agreement", "type": "clause", "offset": [132, 158]}, {"key": "other-severance-payments", "type": "clause", "offset": [167, 191]}, {"key": "separation-benefits", "type": "definition", "offset": [195, 214]}, {"key": "each-case", "type": "definition", "offset": [224, 233]}, {"key": "deferred-compensation", "type": "clause", "offset": [276, 297]}, {"key": "section-409a", "type": "clause", "offset": [304, 316]}], "samples": [{"hash": "8uuWWUA3O5D", "uri": "/contracts/8uuWWUA3O5D#deferred-payment", "label": "Executive Employment Agreement (Savara Inc)", "score": 37.1943855286, "published": true}, {"hash": "gtx6ytmoKWz", "uri": "/contracts/gtx6ytmoKWz#deferred-payment", "label": "Executive Employment Agreement (Savara Inc)", "score": 36.2334022522, "published": true}, {"hash": "XjoSwLKX8F", "uri": "/contracts/XjoSwLKX8F#deferred-payment", "label": "Executive Employment Agreement (Savara Inc)", "score": 36.2334022522, "published": true}], "hash": "5b4eb6e52c0183013271a9346544b7e2", "id": 1}, {"size": 10, "snippet": "If any of Party A\u2019s payments under this Agreement are delayed, it shall pay penalties for deferred payment to Party B pursuant to this Agreement. 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For purposes of this Section 4.3, \"DEFERRED PAYMENT RATE\" means, for any month, (i) if the debt of the Bank has an implied investment grade rating at all times during such month, the average interest rate paid by the Bank to obtain funds during such month, and (ii) if the debt of the Bank does not have an implied investment grade rating at all times during such month, the then-current reference rate or index maintained or provided by a nationally recognized investment banking firm (which firm shall be reasonably acceptable to the Company and the Bank) in respect of issuers whose debt has the lowest investment grade rating.", "snippet_links": [{"key": "credit-card", "type": "definition", "offset": [66, 77]}, {"key": "payment-basis", "type": "definition", "offset": [107, 120]}, {"key": "period-of", "type": "definition", "offset": [136, 145]}, {"key": "during-the-period", "type": "clause", "offset": [200, 217]}, {"key": "the-company-will", "type": "clause", "offset": [231, 247]}, {"key": "equal-to", "type": "definition", "offset": [271, 279]}, {"key": "deferred-payment-rate", "type": "definition", "offset": [284, 305]}, {"key": "balance-of-purchase-price", "type": "clause", "offset": [353, 378]}, {"key": "section-43", "type": "clause", "offset": [431, 442]}, {"key": "debt-of", "type": "definition", "offset": [501, 508]}, {"key": "investment-grade-rating", "type": "definition", "offset": [533, 556]}, {"key": "at-all-times", "type": "definition", "offset": [557, 569]}, {"key": "average-interest-rate", "type": "definition", "offset": [593, 614]}, {"key": "by-the-bank", "type": "clause", "offset": [620, 631]}, {"key": "reference-rate", "type": "clause", "offset": [798, 812]}, {"key": "nationally-recognized", "type": "definition", "offset": [850, 871]}, {"key": "investment-banking-firm", "type": "definition", "offset": [872, 895]}, {"key": "the-company-and-the", "type": "clause", "offset": [942, 961]}, {"key": "in-respect-of", "type": "definition", "offset": [968, 981]}, {"key": "lowest-investment-grade", "type": "definition", "offset": [1009, 1032]}], "samples": [{"hash": "lKnr7lSWTKF", "uri": "/contracts/lKnr7lSWTKF#deferred-payment", "label": "Credit Card Processing Agreement (Alliance Data Systems Corp)", "score": 18.0, "published": true}, {"hash": "hWeB5Ok2eNA", "uri": "/contracts/hWeB5Ok2eNA#deferred-payment", "label": "Credit Card Processing Agreement (Alliance Data Systems Corp)", "score": 18.0, "published": true}, {"hash": "cEGdRrEQkVn", "uri": "/contracts/cEGdRrEQkVn#deferred-payment", "label": "Credit Card Processing Agreement (Alliance Data Systems Corp)", "score": 18.0, "published": true}], "hash": "042bcabd4ced2a1bc51ecc937211d39a", "id": 6}, {"size": 11, "snippet": "Notwithstanding Section 2(e) above, the Participant may elect to defer the payment date of his or her vested Restricted Stock Units beyond the Scheduled Payment Date (such elected deferred payment date, the \u201cDeferred Payment Date\u201d), provided, that:\n(a) In order for a deferral election under this Section 3 to be effective, the Participant must make the election prior to the Grant Date.\n(b) A deferral election made by the Participant pursuant to this Section 3 with respect to one or more of the Participant\u2019s Restricted Stock Units shall, subject to Sections 3(c) and (e) below, defer the payment date of such Restricted Stock Units to the Deferred Payment Date elected by the Participant, which must be one of the following: (i) the third (3rd) anniversary of the Scheduled Payment Date; (ii) the fifth (5th) anniversary of the Scheduled Payment Date; (iii) the seventh (7th) anniversary of the Scheduled Payment Date; (iv) the tenth (10th) anniversary of the Scheduled Payment Date; or (v) the date of the Participant\u2019s Termination of Services which occurs after the Scheduled Payment Date.\n(c) The Participant shall also be permitted to further defer the payment date of his or her vested Restricted Stock Units beyond the Deferred Payment Date, provided that: (i) in order to be effective, the Participant must make such deferral election at least twelve (12) months prior to the Deferred Payment Date; (ii) a deferral election made by the Participant pursuant to this Section 3(c) shall defer the payment date of his or her vested Restricted Stock Units for a period of time (expressed in whole years) of not less than five (5) years and no more than ten (10) years beyond the Deferred Payment Date; and (iii) the Participant\u2019s deferral election shall not become effective until twelve (12) months after the date on which it is made. The Participant shall be entitled to make more than one deferral election under this Section 3(c) with respect to his or her vested Restricted Stock Units, and any such new Deferred Payment Date election that becomes effective in accordance herewith shall supersede any previous Deferred Payment Date election made by the Participant with respect to such Restricted Stock Units on and after the twelve (12) month anniversary after the election is made.\n(d) The Participant must make any deferral election permitted under this Section 3 in writing on the election form and in accordance with the procedures established by the Company. A deferral election is valid solely with respect to the Restricted Stock Units identified on the election form and must comply with the requirements of this Section 3 to be given effect. Subject to the requirements set forth in this Section 3, the Participant shall be entitled to make deferral elections with respect to all or only a portion of his or her Restricted Stock Units and any such deferral elections need not be the same for all of the Participant\u2019s Restricted Stock Units.\n(e) If the Participant elects in accordance with this Section 3 to defer the date of payment of any of his or her Restricted Stock Units beyond the Scheduled Payment Date, the payment date of such Restricted Stock Units, to the extent vested, shall occur within the thirty (30) day period following the earliest of the following to occur: (i) the Deferred Payment Date; (ii) the Participant\u2019s Termination of Services (other than as a result of the Participant\u2019s death, Disability or Retirement), but only if such Termination of Services qualifies as a \u201cseparation from service\u201d within the meaning of Section 409A(a)(2)(A)(i) of the Code and the Treasury regulations 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If the Trust Student Loans are purchased by Funding pursuant to Section 6.1 of the Administration Agreement, Funding shall pay to \u2587\u2587\u2587\u2587\u2587\u2587 \u2587\u2587\u2587 as part of the Deferred Payment the present value of the excess of the projected future yield on the Trust Student Loans after the date of such purchase over the projected cost to Funding of carrying the Trust Student Loans as reasonably estimated by Funding assuming (1) that interest rates applicable to the Trust Student Loans in effect on the date of such purchase remain in effect, (2) that the cost to Funding of carrying the Trust Student Loans is equal to the blended rate on the Notes and Certificates on the date of such purchase, (3) that the servicing costs and loss experience applicable to the Trust Student Loans during the one year period preceding such purchase continue during the remaining life of the Trust Student Loans and (4) a discount rate equal to the blended rate on the Notes and Certificates on the date of such", "snippet_links": [{"key": "payment-to", "type": "clause", "offset": [31, 41]}, {"key": "received-by", "type": "definition", "offset": [77, 88]}, {"key": "the-trust-student-loans", "type": "clause", "offset": [101, 124]}, {"key": "section-61", "type": "clause", "offset": [162, 173]}, {"key": "administration-agreement", "type": "definition", "offset": [181, 205]}, {"key": "pay-to", "type": "definition", "offset": [221, 227]}, {"key": "present-value", "type": "clause", "offset": [275, 288]}, {"key": "the-excess", "type": "clause", "offset": [292, 302]}, {"key": "date-of", "type": "clause", "offset": [370, 377]}, {"key": "projected-cost", "type": "definition", "offset": [401, 415]}, {"key": "to-funding", "type": "clause", "offset": [416, 426]}, {"key": "to-the-trust", "type": "clause", "offset": [542, 554]}, {"key": "effect-on-the", "type": "clause", "offset": [572, 585]}, {"key": "the-cost", "type": "clause", "offset": [635, 643]}, {"key": "equal-to", "type": "definition", "offset": [694, 702]}, {"key": "blended-rate", "type": "definition", "offset": [707, 719]}, {"key": "notes-and-certificates", "type": "clause", "offset": [727, 749]}, {"key": "servicing-costs", "type": "definition", "offset": [793, 808]}, {"key": "loss-experience", "type": "clause", "offset": [813, 828]}, {"key": "one-year-period", "type": "definition", "offset": [878, 893]}, {"key": "remaining-life", "type": "definition", "offset": [938, 952]}, {"key": "of-the-trust", "type": "clause", "offset": [953, 965]}, {"key": "discount-rate", "type": "definition", "offset": [990, 1003]}], "samples": [{"hash": "g66iosB3FwJ", "uri": "/contracts/g66iosB3FwJ#deferred-payment", "label": "Purchase Agreement (SLM Funding Corp)", "score": 18.0, "published": true}, {"hash": "6boYu3WaRrW", "uri": "/contracts/6boYu3WaRrW#deferred-payment", "label": "Purchase Agreement (SLM Funding Corp)", "score": 18.0, "published": true}, {"hash": "4eFSbMnUdu5", "uri": "/contracts/4eFSbMnUdu5#deferred-payment", "label": "Purchase Agreement (SLM Funding Corp)", "score": 18.0, "published": true}], "hash": "ec04c37f103440bd510de617394ec09a", "id": 10}, {"size": 12, "snippet": "Receipt by the Seller of amounts distributed to the Seller pursuant to Section 2.8C(G) of the Administration Agreement (exclusive of the amount of any such distribution attributable to the reduction from time to time of the Specified Reserve Account Balance) shall constitute payment to the Seller of the Deferred Payment portion of the Purchase Price.", "snippet_links": [{"key": "by-the-seller", "type": "clause", "offset": [8, 21]}, {"key": "amounts-distributed", "type": "clause", "offset": [25, 44]}, {"key": "pursuant-to-section", "type": "clause", "offset": [59, 78]}, {"key": "administration-agreement", "type": "definition", "offset": [94, 118]}, {"key": "time-of-the", "type": "clause", "offset": [212, 223]}, {"key": "specified-reserve-account-balance", "type": "clause", "offset": [224, 257]}, {"key": "payment-to-the-seller", "type": "clause", "offset": [276, 297]}, {"key": "the-purchase-price", "type": "clause", "offset": [333, 351]}], "samples": [{"hash": "kBW1K2zDj8C", "uri": "/contracts/kBW1K2zDj8C#deferred-payment", "label": "Sale Agreement (SLM Funding Corp)", "score": 18.0, "published": true}, {"hash": "iOluaSWiRYm", "uri": "/contracts/iOluaSWiRYm#deferred-payment", "label": "Sale Agreement (SLM Funding Corp)", "score": 18.0, "published": true}, {"hash": "hioeSUBfG6y", "uri": "/contracts/hioeSUBfG6y#deferred-payment", "label": "Sale Agreement (SLM Funding Corp)", "score": 18.0, "published": true}], "hash": "d22afb7fa935fd7f076e494975e8c083", "id": 2}, {"size": 6, "snippet": "Funding shall pay the Deferred Payment to \u2587\u2587\u2587\u2587\u2587\u2587 Mae when and as the same is received by Funding. If the Trust Student Loans are purchased by Funding pursuant to Section 6.1 of the Administration Agreement, Funding shall pay to \u2587\u2587\u2587\u2587\u2587\u2587 \u2587\u2587\u2587 as part of the Deferred Payment 66 2/3% of the present value of the excess of the projected future yield on the Trust Student Loans after the date of such purchase over the projected cost to Funding of carrying the Trust Student Loans as reasonably estimated by Funding assuming (1) that interest rates applicable to the Trust Student Loans in effect on the date of such purchase remain in effect, (2) that the cost to Funding of carrying the Trust Student Loans is equal to the blended rate on the Notes and Certificates on the date of such purchase, (3) that the servicing costs and loss experience applicable to the Trust Student Loans during the one year period preceding such purchase continue during the remaining life of the Trust Student Loans and (4) a discount rate equal to the blended rate on the Notes and Certificates on the date of such purchase. If the Trust Student Loans are sold pursuant to the auction provision in Section 4.4 of the Indenture, Funding shall pay to \u2587\u2587\u2587\u2587\u2587\u2587 Mae as part of the Deferred Payment 66 2/3% of the amount, if any, by which the sale price exceeds the Minimum Purchase Amount and any costs of terminating the Trust. 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