Earned Payment Sample Clauses

Earned Payment. Intercardia shall pay the Earned Payment to Interneuron on the Closing Date. The Earned Payment shall be non-refundable and shall be paid in shares of Intercardia Common Stock calculated by dividing $3,000,000 by the Per Share Price. The Per Share Price shall equal the Fair Market Value of Intercardia Common Stock determined as of the Closing Date; provided, however, that if the Fair Market Value of Intercardia Common Stock determined as of the Closing Date is (i) less than $15.00 then the Per Share Price shall equal $15.00 and (ii) more than $29.00, the Per Share Price shall equal $29.00.
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Earned Payment. The Employee will have the opportunity to earn an additional long-term incentive payment ("Earned Payment") equal to up to 25% of Employee's Base Salary applicable as of June, 1999 if (A) business synergies and objectives (as defined by Philips in consultation with the Senior Vice President, Philips Speech Processing Telephony North America) during the eighteen (18) month period following the Effective Date are achieved and (B) Employee remains actively employed by the Company on the date which is eighteen (18) months following the Effective Date; provided, however, that Employee's performance in relation to such objectives shall be measured every six (6) months, beginning with the date which is six (6) months following the Effective Date, and if the objectives have been achieved after such six (6) month period, Employee shall be paid an amount equal to one-third of the Earned Payment as soon as practicable thereafter, but in no event later than thirty (30) days after each such six (6) month period.
Sample 1Sample 2
Earned Payment. If the payments described in this sub-paragraph are greater than the Minimum Payments described in Paragraph 13.1.c.i above, Lessor shall pay to Lessee commencing on May 31, 2002 and annually on May 31 of each and every year thereafter an earned payment ("Earned Payment") calculated as follows: For the purposes of determining the amount of Earned Payment, if any, a base value ("Base Value") is hereby set at Thirteen Million Dollars ($13,000,000.00). A calculated value ("Calculated Value") shall be determined annually beginning for the year ending December 3l, 2001. Such Calculated Value shall be determined by deducting from the net operating profit of the Leased Premises ("Net Operating Profit") for the year ending December 31, 2001 a capital reserve equal to four percent (4%) of the total gross revenue ("Total Gross Revenue") for that specific year, so long as the Lessee's cumulative capital expenditures following the closing date are equal to or greater than four percent (4%) of the cumulative Total Gross Revenue for the same period. If such cumulative capital expenditures by Lessee are less than four percent (4%) of the cumulative Total Gross Revenue since the closing date, then the amount of capital reserve deducted will be limited to the actual amount spent in that specific year. Said net sum shall then be multiplied by nine (9) to determine the Calculated Value. The Earned Payment due Lessor in any year shall be determined by deducting the Base Value from the Calculated Value and multiplying the net sum by thirty-five percent (35%) and then deducting the
Sample 1
Earned Payment. The Employee will have the opportunity to earn an additional long-term incentive payment ("Earned Payment") equal to up to 25% of $260,000 if (A) business synergies and objectives (as defined by Philips in consultation with Employee) during the eighteen (18) month period following the Effective Date are achieved and (B) Employee remains actively employed by the Company on the date which is eighteen (18) months following the Effective Date; provided, however, that Employee's performance in relation to such objectives shall be measured every six (6) months, beginning with the date which is six (6) months following the Effective Date, and if the objectives have been achieved after such six (6) month period, Employee shall be paid an amount equal to one-third of the Earned Payment as soon as practicable thereafter, but in no event later than thirty (30) days after each such six (6) month period.
Sample 1

Related to Earned Payment

  • Returned Payments If after receipt of any payment which is applied to the payment of all or any part of the Obligations (including a payment effected through exercise of a right of setoff), the Administrative Agent or any Lender is for any reason compelled to surrender such payment or proceeds to any Person because such payment or application of proceeds is invalidated, declared fraudulent, set aside, determined to be void or voidable as a preference, impermissible setoff, or a diversion of trust funds, or for any other reason (including pursuant to any settlement entered into by the Administrative Agent or such Lender in its discretion), then the Obligations or part thereof intended to be satisfied shall be revived and continued and this Agreement shall continue in full force as if such payment or proceeds had not been received by the Administrative Agent or such Lender. The provisions of this Section 2.21 shall be and remain effective notwithstanding any contrary action which may have been taken by the Administrative Agent or any Lender in reliance upon such payment or application of proceeds. The provisions of this Section 2.21 shall survive the termination of this Agreement.

  • Deferred Payment “Deferred Payment” means any severance pay or benefits to be paid or provided to Executive (or Executive’s 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.

  • Returned Payment Fee If your account is subject to a Returned Payment Fee, the fee will be charged to your account when a payment is returned for any reason.

  • Deferred Payments “Deferred Payments” means any severance pay or benefits to be paid or provided to Executive (or Executive’s estate or beneficiaries) pursuant to this Agreement and any other severance payments or separation benefits to be paid or provided to Executive (or Executive’s estate or beneficiaries), that in each case, when considered together, are considered deferred compensation under Section 409A.

  • Refused Payments We reserve the right to refuse to pay any Receiver. We will attempt to notify the Sender promptly if we decide to refuse to pay a Receiver designated by the Sender. This notification is not required if you attempt to make a prohibited payment under this Agreement.

  • Estimated Payments During each calendar year or partial calendar year after the Base Year, in addition to Monthly Rent, Tenant shall pay to Landlord on the first day of each month an amount equal to one-twelfth (1/12) of the product of Tenant's Share multiplied by the "Estimated Operating Expenses" (defined below) for such calendar year. "Estimated Operating Expenses" for any calendar year means Landlord's reasonable estimate of Operating Expenses for such calendar year, less the Operating Expenses for the Base Year and shall be subject to revision according to the further provisions of this Section 5.2 and Section 5.3. During any partial calendar year, Estimated Operating Expenses shall be estimated on a full-year basis. During each December in which this Section 5.2 is applicable, or as soon after each December as practicable, Landlord shall give Tenant written notice of the Estimated Operating Expenses for the ensuing calendar year. On or before the first day of each month during the ensuing calendar year (or each month of the Term if the Term will expire before the end of the calendar year), Tenant shall pay to Landlord one-twelfth (1/12) of the product of Tenant's Share multiplied by the Estimated Operating Expenses for such calendar year; however, if such written notice is not given in December, Tenant shall continue to make monthly payments on the basis of the prior year's Estimated Operating Expenses until the month after such written notice is given, at which time Tenant shall commence making monthly payments based upon the revised Estimated Operating Expenses. In the month Tenant is first required to make a payment based upon the revised Estimated Operating Expenses, Tenant shall pay to Landlord for each month which has elapsed since December the difference between the amount payable based upon the revised Estimated Operating Expenses and the amount payable based upon the prior year's Estimated Operating Expenses. If at any time or times it reasonably appears to Landlord that the actual Operating Expenses for any calendar year will vary from the Estimated Operating Expenses for such calendar year, Landlord may, by written notice to Tenant, revise the Estimated Operating Expenses for such calendar year, and subsequent payments by Tenant in such calendar year shall be based upon such revised Estimated Operating Expenses.

  • Misdirected Payments To the extent there are any misdirected funds forwarded to Seller (or any of its Affiliates, if any) by any third parties, which misdirected funds are paid in respect of the performance of services by or on behalf of the Hospital from and after the Closing Date or with respect to the Accounts Receivable or other Acquired Assets, Seller shall remit such misdirected funds to Buyer within ten (10) Business Days after receipt thereof, to an account designated by Buyer.

  • Delayed Payment Premium balances that remain unpaid for more than 30 days after the Remittance Date will incur interest from the end of the reporting period. The Remittance Date is defined as 30 days after the end of the reporting period. Interest will be calculated using the index specified in Article 13.5 -

  • Required Payments Unless otherwise provided in this Agreement, any payment of Tax required shall be due within 30 days of a Final Determination of the amount of such Tax.

  • Disputed Payments In the event that the Purchaser disputes an invoice, it shall give notice of such a dispute within 15 days of receiving the invoice setting out details of the disputed amount. The Purchaser shall pay by the Due Date 100% of any undisputed amount and in case the invoice is disputed, the Purchaser shall pay an amount based on average consumption of last three consecutive undisputed invoices. Amount so recovered shall be subject to final adjustment on resolution of the dispute. Thereafter, the Parties shall discuss and try to resolve the disputed amount within a week of receipt of such notice of dispute. If the Parties resolve the dispute, an appropriate adjustment shall be made in the next invoice. If the dispute has not been resolved by the date of the next invoice the dispute shall be referred to a committee of one member from each of Purchaser and Power Producer, If the dispute is still-not resolved by the next following invoice if shall be 'referred to Arbitration as provided in the present Agreement.

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