Monetary Settlement Terms Clause Samples
The Monetary Settlement Terms clause defines the specific conditions and procedures for the payment of money to resolve a dispute or fulfill an obligation under the agreement. It typically outlines the amount to be paid, the payment schedule, acceptable methods of payment, and any interest or penalties for late payment. By clearly establishing how and when monetary settlements are to be made, this clause helps prevent misunderstandings and disputes over financial obligations, ensuring both parties have a clear roadmap for resolving monetary issues.
Monetary Settlement Terms. 3.1 Civil Penalty Payment
Monetary Settlement Terms. 3.1 Payments Pursuant to Health and Safety Code § 25249.7(b)(2)
Monetary Settlement Terms. 3.1 Civil Penalty Pursuant to Health & Safety Code § 25249.7(b)
Monetary Settlement Terms. 3.1 Civil Penalty Payment Pursuant to Health and Safety Code section 25249.7(b)(2), and as consideration for the releases contained in Sections 4.1 and 4.2 below, ▇▇▇▇▇▇▇▇ agrees to pay $3,600 in civil penalties no later than ten (10) days after the Effective Date. The penalty payment will be allocated in accordance with California Health and Safety Code section 25249.12(c)(I) & (d), with 75% of the penalty amount remitted to the California Office of Environmental Health Hazard Assessment ("OEHHA") and the remaining 25% of the penalty amount paid to ▇▇▇▇▇▇▇ and delivered to the address in Section 3.3 herein.
Monetary Settlement Terms. Subject to the conditions and/or contingencies set forth in this Agreement, CornerWorld agrees pay to ▇▇▇▇▇▇ Seven Million Eight Hundred Thousand Dollars and No Cents ($7,800,000.00) as follows:
a. A lump sum payment of Six Million Dollars and No Cents ($6,000,000.00) (the “Lump Sum Payment”) to be made via wire transfer pursuant to wire transfer instructions to be provided by ▇▇▇▇▇▇;
b. A five (5) year junior secured note for One Million Eight Hundred Thousand Dollars and No Cents ($1,800,000.00) (the “Note”);
i. The Note shall be payable in five (5) annual payments of $360,000 with the first payment becoming due April 30, 2012 and the last payment becoming due April 30, 2016;
ii. The Note shall bear interest at 10% which shall start accruing on the date of the Note and which shall be paid based on a 365 day year on a quarterly basis with payments beginning April 30, 2011;
iii. The payments on the Note are contingent upon ▇▇▇▇▇▇’▇ agreement to refrain from disclosing to anyone after December 1, 2010, the terms, provisions or existence of any patent license agreements, including without limitation, patent license agreements, to which the Company or any of its affiliates is a party (as either licensor or licensee), except as required by law or court order, and then only to the extent so required, and such Note payments shall immediately cease if such disclosure is made by ▇▇▇▇▇▇;
iv. The Note shall be secured by existing collateral held by ▇▇▇▇▇▇ as set forth in the Pledge and Security Agreements dated February 23, 2009 made by CornerWorld Corporation, CornerWorld, Inc., Enversa Companies, LLC, Woodland Holdings Corp., Woodland Wireless Solutions Ltd., S Squared LLC, West Michigan Co-Location Services, LLC, and T2 TV, LLC in favor of ▇▇▇ ▇. ▇▇▇▇▇▇;
v. Subject to Paragraph 7, ▇▇▇▇▇▇ understands and agrees that while the Note is secured by existing collateral as explained in Paragraph 5(b)(iv) above, ▇▇▇▇▇▇ will be a junior and/or subordinated secured creditor, meaning that his security interests will be subordinate to the third party lender or lenders who provide the new financing for the Lump Sum Payment and associated transaction fees set forth in Paragraph 5a above (but subordinate only as to the amount of the Lump Sum Payment and associated transaction fees) and present secured creditors IU Investments, LLC and Internet University, Inc. In the event that the lender or lenders providing the financing for the Lump Sum Payment is replaced, the financing is ...
Monetary Settlement Terms. 3.1 C ivil Penalty Payments
(a) “OEHHA” in the amount of $750 and (b) “▇▇▇▇ ▇▇▇▇▇▇▇, Client Trust Account” in the amount of $250. Thereafter, ▇▇▇▇▇▇▇’▇ counsel shall send OEHHA’s portion of the penalties paid by Grocery Outlet to OEHHA.
Monetary Settlement Terms.
3.1 Civil Penalty Payment
(a) “OEHHA” and (b) Environmental Health Advocates, Inc., as follows: • One payment of $1,500.00 to OEHHA, due fourteen (14) days after the Effective Date. • One payment of $500.00 to EHA, due fourteen (14) days after the Effective Date. All payments owed to OEHHA (EIN: ▇▇-▇▇▇▇▇▇▇), pursuant to this Section shall be delivered directly to OEHHA (Memo Line "Prop 65 Penalties") at the following addresses: For United States Postal Service Delivery: P.O. Box 4010 Sacramento, CA 95812-4010 All penalty payments owed to EHA shall be sent to: ▇▇▇▇▇ ▇▇▇▇▇▇ Environmental Health Advocates ▇▇▇ ▇▇▇▇▇▇▇▇, ▇▇▇▇▇ ▇▇▇▇ ▇▇▇ ▇▇▇▇▇, ▇▇ ▇▇▇▇▇
Monetary Settlement Terms. 3.1. Civil Penalty Pursuant to Health and Safety Code section 25249.7(b), Leco shall pay the civil penalties described herein, and each penalty payment shall be allocated according to Health and Safety Code section 25249.12(c)(1) and (d), with 75% of the penalty amount paid to the California Office of Environmental Health Hazard Assessment (“OEHHA”) and the
Monetary Settlement Terms. In settlement of all the claims referred to in the Notice and this Settlement Agreement, PB & Co. shall pay an all-inclusive total of $20,000 as set forth below in Sections 4 and 5 (the “Total Settlement Payment” ).
Monetary Settlement Terms. 3.1 Civil Penalty