Guaranteed Payment Sample Clauses

Guaranteed Payment. The above Management Fees and Technical Manager Fees in Section 9.3(a), the Incentive Bonus in Section 9.3(b) and the Bonus Payment in Section 9.5 will be treated as a “guaranteed payment” to the Managing Member under Section 707(c) of the Code.
Guaranteed Payment. Agent guarantees that Merchant shall receive an amount equal to forty-nine and one-half percent (49.5%) of the Retail Value (the "Guaranteed Payment") of the Merchandise. In the event that the aggregate value of all the Merchandise shall be less than Five Million Seven Hundred Thousand Dollars ($5,700,000), the Merchant will transfer to the Stores' inventory of a mix and quality to be agreed upon so that the inventory level is equal to or greater than $5,700,000. In addition to the Guaranteed Payment, Merchant will be entitled to sixty percent (60%) of the Net Profit of the Sale. For purposes of this Agreement, Net Profit of the Sale is the gross proceeds of the sale after payment of the Guaranteed Payment, Expenses of Sale and payment to Agent of an amount equal to one percent (1%) of the Retail Value. Merchant shall retain all amounts collected during the Sale, as well as any insurance proceeds resulting from the loss of any Merchandise subject to this Agreement (the "Proceeds"), out of which it shall pay Expenses of Sale, as set forth below, and satisfy the Guaranteed Payment. After satisfaction of the Guaranteed Payment and payment of Expenses of Sale, and subject to the sharing of the Net Profit of the Sale set forth above, Agent shall be entitled to receive its share of the Proceeds as its commission herein. As security for the Guaranteed Payment and Expenses of Sale, Agent will deliver to Merchant an irrevocable Letter of Credit, in a form attached hereto as Schedule B from Wellx Xxxgo Bank in the amount of $2,115,000 having an expiration date of not earlier than November 30, 2000. Reductions in the Letter of Credit amount will be permitted as appropriate. In the event, following the End Date, that Proceeds from the Sale are insufficient to satisfy the Guaranteed Amount and Expenses of Sale, Merchant shall be entitled to draw down upon the Letter of Credit for the amount of the deficiency.
Guaranteed Payment. The Company shall pay the Executive a guaranteed payment at the rate of $200,000.00 per annum for the period beginning on the Effective Date through December 31, 2011 (the “Guaranteed Payment”), payable in equal monthly installments. For each year thereafter, the Executive’s Guaranteed Payment shall equal the sum of: (a) $200,000 and (b) the amount of the Initial Annual Allocation (as herein determined), if any, for the immediately preceding calendar year. (Any such amount shall constitute the “Guaranteed Payment” as of the time of the calculation.) For United States federal, state and local tax purposes, each Guaranteed Payment shall be treated and reported by the Company and the Partners as a “guaranteed payment” within the meaning of Section 707(c) of the Internal Revenue Code of 1986, as amended (the “Code”) and the Treasury Regulations promulgated thereunder.
Guaranteed Payment. (a) The Company shall make a Guaranteed Payment to the Managing Member, within the meaning of Section 707(c) of the Code, for the use of capital contributed to the Company by the Managing Member, in an amount equal to One Million Dollars ($1,000,000) per annum, for the period between the date hereof and the fifth anniversary hereof for a total of Five Million Dollars ($5,000,000).
Guaranteed Payment. In the event the Company is liquidated or the Company exercises its redemption option pursuant to Section 6.17 hereof and, as of such date, (A) the cumulative Preferred Return as to a Preferred Unit Holder exceeds (B) the amount by which the cumulative Profits allocated to such Preferred Unit Holder pursuant to Section 3.1(c) exceeds the cumulative Losses allocated to such Preferred Unit Holder pursuant to Section 3.2(b), then the portion of the Redemption Price payable pursuant to Section 6.17 or the portion of the liquidation amount payable pursuant to Section 10.2(b) equal to the difference of (A) over (B) shall be paid to such Preferred Unit Holder as a payment for the use of such Preferred Unit Holder’s capital. Amounts paid pursuant to this Section 4.4 are intended to constitute guaranteed payments within the meaning of Section 707(c) of the Code.
Guaranteed Payment. Commencing the Date of Resignation, Egghead shall pay Xxxxxxxx his current annual base salary of $250,000 for a period of nine (9) months (the "Severance Period"), less any lawful withholding. Such amount shall be paid in bi-weekly installments at normal bi-weekly payroll intervals or pursuant to a payment schedule that is mutually agreeable to the parties. Xxxxxxxx shall also be paid in full for any unused vacation pay accrued as of the Date of Resignation, as reflected in Egghead's records, to be paid at the end of the payroll period next following the Date of Resignation, or pursuant to a payment schedule that is mutually agreeable to the parties. Xxxxxxxx shall not be entitled to vacation pay accrual during the Severance Period. Xxxxxxxx agrees to be available for consulting, either in person or via telephonic means, no more than one day per month during the Severance Period, at the reasonable request of Egghead management.
Guaranteed Payment. The Employee will be eligible to receive a guaranteed payment ("Guaranteed Payment") equal to 50% of $260,000 which shall become payable to Employee in three (3) substantially equal installments if Employee is actively employed by the Company on the date which is (A) six (6) months following the Effective Date, (B) twelve (12) months following the Effective Date and (C) eighteen (18) months following the Effective Date, respectively, one such installment to be paid following each of the dates described in clauses (A), (B) and (C) above if the employment condition has been satisfied on such date.
Guaranteed Payment. A payment that is due whether or not the Annuitant, or Joint Annuitant, if applicable, is alive on the payment due date, as described in the Schedule of Benefits on the Specifications page.
Guaranteed Payment. In the event of a Change of Control of the Company, the Company will pay to Executive a bonus payable in cash or Company Common Stock, as determined by the Board in its sole and absolute discretion, in an amount, if any, equal to $1,000,000 less the amount by which the "Fair Market Value" (as defined in the Option Plan) of the shares of the Company's Common Stock subject to the Options exceeds the aggregate exercise price of the shares of the Company's Common Stock subject to such Options, provided in no event shall the amount payable to Executive exceed $1,000,000. In the event Executive has exercised an Option but has not disposed of such exercised shares on the effective date of a Change of Control, such shares shall be considered to still be subject to the Option from which they were issued for purposes of determining the bonus amount. Additionally, in the event Executive has exercised an Option and sold or otherwise disposed of such exercised shares, the bonus amount shall be reduced by the greater of (i) the difference between the sale price received by Executive for such shares less the exercise price of such shares; provided, however, that if Executive gifts any exercised shares or otherwise disposes of such shares for consideration less than the Fair Market Value of such shares on the date of disposition, then the shares shall be deemed to have been disposed of for the Fair Market Value of such shares on the date of such disposition, or (ii) the difference between the Fair Market Value of such shares on the effective date of a Change of Control less the exercise price of such shares.
Guaranteed Payment. Buyer shall pay to Seller (i) on Closing in immediately available funds the amount of $30,000; (ii) on or prior to the date which is one month after closing, the amount of $20,000; and (iii) $10,000 in each month for five months beginning on the date which is six months after closing for an aggregate guaranteed amount of $100,000.