Opt-Out Payment Sample Clauses

Opt-Out Payment. As consideration for Protagonist’s exercise of the Rusfertide Opt-Out Right during the Rusfertide Opt-Out Period, (i) Takeda will owe to Protagonist a one-time, non-refundable, non-creditable payment of two hundred million Dollars ($200,000,000), with such payment payable within [***] of Takeda’s receipt of Protagonist’s Opt-Out Notice informing Takeda of Protagonist’s exercise of the Rusfertide Opt-Out Right pursuant to Section ‎4.4(a) and of a valid invoice from Protagonist issued therefor (the “Rusfertide Opt-Out First-Half Payment”), and (ii) Takeda will owe to Protagonist a further one-time, non-refundable, non-creditable payment of two hundred million Dollars ($200,000,000) if the FDA grants approval of the Rusfertide NDA with respect to which the Rusfertide Opt-Out Period commenced, with such payment payable within [***] of Takeda’s or Protagonist’s receipt, as the case may be, of an official notice of such approval by the FDA and of a valid invoice from Protagonist issued therefor (the “Rusfertide Opt-Out Second-Half Payment”, and together with the Rusfertide Opt-Out First-Half Payment, the “Rusfertide Opt-Out Payment”). For clarity, (a) if Takeda terminates this Agreement (either in its entirety or in the U.S.) prior to the start of the Rusfertide Opt-Out Period, (b) if Takeda terminates this Agreement (either in its entirety or in the U.S.) after the start of the Rusfertide Opt-Out Period without Protagonist having prior thereto exercised the Rusfertide Opt-Out Right during the Rusfertide Opt-Out Period, (c) if Takeda terminates this Agreement (either in its entirety or in the U.S.) after the expiration of the Rusfertide Opt-Out Period without Protagonist having exercised the Rusfertide Opt-Out Right during the Rusfertide Opt-Out Period, or (d) if either Party gives notice to convene the JSC to discuss and approve the occurrence of a Rusfertide Failure, then in each case (a), (b), (c) or (d), neither the Rusfertide Opt-Out First-Half Payment nor the Rusfertide Opt-Out Second-Half Payment will be payable; provided that, for clarity, (x) in connection with the foregoing clause (d), (1) if the JSC (or if the matter is escalated pursuant to Sections ‎3.6(c)(vii)(B) and ‎14.2(c), the Expert) concludes that a Rusfertide Failure has not occurred, then Takeda will pay Protagonist either the Rusfertide Opt-Out First-Half Payment or the Rusfertide Opt-Out Second-Half Payment, as applicable based on Protagonist’s exercise of the Rusfertide Opt-Out Right dur...

Opt-Out Payment. A unit employee who is eligible for health care coverage and who elects not to join the health care plan shall receive an annual payment of $3,000 from the District. This amount shall be prorated for any partial year. This election to opt out is made because the unit member is eligible for duplicate health care coverage elsewhere through the employment of a spouse or the unit member is otherwise covered. The unit employee is to make his/her election on the District’s form and submit it during April of each year. Each subsequent year, the unit employee must make an election so as to notify the District of his/her intention with regard to participation in the health care program. This election to opt out will operate unless there occurs a qualifying event under which the unit employee may rejoin the health care plan such as death, divorce, or loss of other health care coverage.

Opt-Out Payment. Developer shall pay to Owner a single one-time payment of Five Thousand dollars ($5,000) (the “Opt Out Payment”) to be paid by Developer within thirty (30) days after the Effective Date.

Opt-Out Payment a. Bargaining unit members eligible for an insurance opt-out payment include all current and new employees who are eligible to enroll in the board’s health insurance plan. However, if an employee and his spouse are employed by the district, neither the employee nor his spouse shall be eligible for any opt-out payment. b. Employees who choose not to take health insurance from the district will have notified the Employer at the time of their open enrollment meeting. Members who do not take health insurance from the district shall be eligible for an opt- out payment. Each eligible member opting-out of the Board’s health insurance plan shall be paid the Opt-Out Amount of one thousand dollars ($1,000), in January following the health insurance plan year in which the member provided advance notice to the Treasurer of the decision to opt-out. c. Any employee who elected to opt-out of the Board’s health insurance plan who involuntarily loses other insurance coverage will be permitted to re-enroll in the Board’s health insurance plan subject to the provisions of the contract with the health insurance carrier. d. The Opt-Out Payment provisions of this Article shall automatically expire on June 30, 2024.

Opt-Out Payment. In lieu of receiving medical insurance, the Employer will permit eligible employees the option of receiving additional compensation. The additional compensation will be in the amount of one hundred fifty ($150.00) dollars per month, payable with the Employee’s regular wage. Employees who choose this option will be required to demonstrate that they and their dependents are covered by another comparable (equal to or better) medical insurance policy. In the event that the other comparable medical insurance policy benefit is terminated for any reason, the employee shall immediately advise the Employer, and the option to receive compensation in lieu of medical insurance benefit shall cease, and coverage under the Employer’s medical insurance plan shall be initiated.