Distribution Payment Clause Samples
A Distribution Payment clause defines the terms and conditions under which payments are made to parties from a pool of funds, such as profits, dividends, or liquidation proceeds. It typically outlines the timing, method, and order of payments, specifying who is entitled to receive distributions and in what proportion. This clause ensures that all parties understand how and when they will receive their share, thereby preventing disputes and providing transparency in financial dealings.
Distribution Payment. The Trustee’s disbursement of money from the Trust made at the written direction of the Department to a person and in an amount specified by the Department and as provided by this Consent Order and Agreement.
Distribution Payment. In consideration of the exclusive rights granted to Distributor herein, Distributor shall make the following one-time payments to Empyrean:
5.3.1 the sum of US$600,000 upon the signing of this Agreement; and
5.3.2 the additional sum of US$600,000 within 120 days following the receipt by Distributor of written notification from Empyrean that the Food and Drug Administration of the United States of America (the "FDA") has approved the claims made for the Products listed in Exhibit A in relation to the prevention of the transmission of the Human Immunodeficiency Virus ("HIV") (the "FDA Approval"). In addition, the parties hereto agree that out of the sub-distribution fee to be paid by each distributor to Distributor under each Sub-Distribution Agreement (the "Sub-Distribution Fee"):
(i) 33 per cent of the Sub-Distribution Fee shall be paid to Empyrean;
(ii) 33 per cent of the Sub-Distribution Fee shall be utilized by Distributor to promote and market the Products in the Territory; and
(iii) the balance of the Sub-Distribution Fee shall be retained by Distributor for its account.
B. Empyrean factory or designated warehouse facility) during Year One of this Agreement, and which US$100,000 shall be credited towards the Year One Minimum Annual Purchase requirement.
Distribution Payment. Prior to the Distribution, The Limited shall determine an estimated amount equal to 40.0% of the Net Book Income of Too, Inc. for Pre-Distribution FY 1999. Too, Inc. shall pay this amount to The Limited within 5 days of receipt of notice of the amount.
Distribution Payment. Prior to the Distribution, ITC Holding shall determine the estimated KNOLOGY Federal Tax Liability and, if applicable, the estimated KNOLOGY State Tax Liability resulting from Combined State Tax filings for Pre-Distribution CY 1999. KNOLOGY shall pay this amount to ITC Holding (or vice versa in the case of Net Taxable Loss by The KNOLOGY GROUP) within 5 days of receipt of notice of the amount.