Minimum Payments to Owner Sample Clauses

Minimum Payments to Owner. For the purpose of this Agreement, Reference Year shall mean each successive twelve (12) month period subsequent to the first anniversary of the Effective Date. Owner shall have the right, but not the obligation, to terminate this Agreement upon sixty (60) days prior written notice to Operator (a "Termination Notice"), such Termination Notice to be delivered within fifteen (15) days after the delivery of the annual report for such Reference Year (as hereinafter defined) prepared pursuant to Section 9.3 above, if Owner did not receive the full Owner Priority with respect to any Reference Year; provided, however, that such Termination Notice shall be of no force or effect if (i) prior to the expiration of such fifteen (15) day period Operator delivers to Owner a written notice stating that Operator will pay to Owner within thirty (30) days an amount (the "Cure Payment") equal to the full Owner Priority for such Reference Year less any amounts received by Owner on account of such Owner Priority with respect to such Reference Year and (ii) within thirty (30) days thereafter Operator actually pays the Cure Payment to Owner. Any Cure Payment made by the Operator to Owner shall not be added to the balance of the Deferred Operator Fees for the purpose of this Agreement or otherwise paid as an Operating Expense or from Total Revenues. Notwithstanding the foregoing, after the end of the second anniversary of the Effective Date, if during any two consecutive Referenced Years, Operator has made a Cure Payment to Owner, then if during the following Referenced Year a Cure Payment is offered to be made by Operator, Owner may elect not to accept such Cure Payment and terminate this Agreement after providing at least 30 days prior written notice to Operator, in which case a termination payment of $250,000.00 will be paid by Owner to Operator within 30 days after Operator vacates and delivers possession of the Managed Outlet and all applicable operating and liquor licenses to Owner.
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Related to Minimum Payments to Owner

  • PAYMENTS TO OWNER Section 4.01 Remittances...................................................29 Section 4.02 Statements to Owner...........................................29 Section 4.03 Monthly Advances by Servicer..................................30 Section 4.04 Due Dates Other Than the First of the Month...................30 ARTICLE V

  • Minimum Payments If the Executive’s Termination Date occurs during the Agreement Term for any reason, the Executive shall be entitled to the following payments, in addition to any payments or benefits to which the Executive may be entitled under the following provisions of this Section 5 (other than this paragraph 5(a)) or the express terms of any employee benefit plan or as required by law:

  • Payments to Xxxxxx In connection with the distribution of shares of the Fund, Xxxxxx will be entitled to receive: (a) payments pursuant to any Distribution Plan and Agreement from time to time in effect between the Fund and Xxxxxx with respect to the Fund or any particular class of shares of the Fund, (b) any contingent deferred sales charges applicable to the redemption of shares of the Fund or of any particular class of shares of the Fund, determined in the manner set forth in the then current Prospectus and Statement of Additional Information of the Fund and (c) subject to the provisions of Section 3 below, any front-end sales charges applicable to the sale of shares of the Fund or of any particular class of shares of the Fund, less any applicable dealer discount.

  • Payments to Specified Employees Notwithstanding any other Section of this Agreement, if the Employee is a Specified Employee at the time of the Employee’s Separation from Service, payments or distribution of property to the Employee provided under this Agreement, to the extent considered amounts deferred under a non-qualified deferred compensation plan (as defined in Code Section 409A) shall be deferred until the six (6) month anniversary of such Separation from Service to the extent required in order to comply with Code Section 409A and Treasury Regulation 1.409A-3(i)(2).

  • Quarterly Payments If Tenant during any six (6) month period shall be more than five (5) days delinquent in the payment of any rent or other amount payable by Tenant hereunder on three (3) or more occasions, then, notwithstanding anything herein to the contrary, Landlord may, by written notice to Tenant, elect to require Tenant to pay all Base Monthly Rent and Additional Rent quarterly in advance. Such right shall be in addition to and not in lieu of any other right or remedy available to Landlord hereunder or at law on account of Tenant's default hereunder

  • Payments to the Owner Section 4.1

  • Payments to Company Except as provided in Section 3 hereof, after the Trust has become irrevocable, Company shall have no right or power to direct Trustee to return to Company or to divert to others any of the Trust assets before all payment of benefits have been made to Plan participants and their beneficiaries pursuant to the terms of the Plan.

  • Maximum Payments Nothing contained herein shall be deemed to establish or require the payment of a rate of interest or other charges in excess of the maximum permitted by applicable law. In the event that the rate of interest required to be paid or other charges hereunder exceed the maximum permitted by such law, any payments in excess of such maximum shall be credited against amounts owed by the Borrower to the Holder and thus refunded to the Borrower.

  • Payments to Seller With respect to each Pledged Timeshare Loan, the Borrower shall have (i) received such Pledged Timeshare Loan as a contribution to the capital of the Borrower by the Seller or (ii) purchased such Pledged Timeshare Loan from the Seller in exchange for payment (made by the Seller in accordance with the provisions of the Sale and Contribution Agreement) in an amount which constitutes fair consideration and reasonably equivalent value. No such sale shall have been made for or on account of an antecedent debt owed by the Seller to the Borrower and no such sale is or may be voidable or subject to avoidance under any section of the Bankruptcy Code.

  • Premium Payments a. Each annual premium on the Policy shall be paid when due as follows:

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