In Kind Payment Clause Samples
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In Kind Payment. (a) With respect to the retrospective payment of Professional Development Allowance (PDA), there is no obligation from the previous Agreement to provide such payment.
(b) However, in recognition of the value of VMO’s and the trust with which the Parties hold the Mater/VMO relationship, a once off “In Kind” payment shall be made to all VMO’s covered by this Agreement as of the date of approval by the Fair Work Commission (FWC); and
(c) The one-off “In Kind” payment shall be up to $20,000 for each eligible VMO, and shall depend on eligibility requirements identified as per clause 6.1, specifically 6.
1.1. The period of eligibility will be from 1 March 2009 until the date the Agreement is approved by the FWC. This one off payment will be paid pro-rata if a VMO was only eligible for part of this period. For example, if a VMO commenced employment in July 2011 they would only be eligible for a pro rata payment of the $20,000 for the period of their employment from July 2011 and not from March 2009.
In Kind Payment. In lieu of receiving royalty payment for the market value of the state's royalty share of oil or gas, the State may elect that such royalty share of oil or gas be delivered in kind at the mouth of the well into tanks or pipelines provided by the State.
In Kind Payment. If Owner timely elects to take payment in kind from Miranda's inventory, Miranda shall schedule delivery of the doré to Owner or Owner's representatives to take place within thirty (30) days after the date on which the doré is deemed sold. Miranda shall segregate the doré from its inventory and shall deliver the doré to Owner or Owner's representatives. Owner or Owner's representatives shall have the right to observe Miranda's segregation and delivery of the doré. Miranda's delivery shall be deemed conclusively to have been made and Owner's possession deemed to have commenced at such time as the doré is delivered to Owner. Owner shall pay to Miranda a reasonable segregation and delivery charge and Owner shall bear and pay all insurance and transportation costs following Miranda's delivery of the doré to Owner. Title to the doré shall pass to Owner on delivery and Owner shall assume the risk and liability for loss of or damage to the doré at such time.
In Kind Payment. In the event that (a) the Interest due on a given Interest Date exceeds the Monthly Payment for such date permitted pursuant to Section 2, or (b) due to the terms of the Intercreditor Agreement, Company cannot make or Holder cannot accept cash payments of Interest on this Note, then the dollar amount of such unpaid Interest for that Payment Date shall be added to the Principal amount of this Note (a “PIK Adjustment”). Interest on each PIK Adjustment shall accrue from the Interest Date in respect of which such PIK Adjustment was made until repayment of the principal and payment of all accrued Interest in full.