Payment Blockage Period Sample Clauses

Payment Blockage Period. 8 Person................................................... 8
Sample 1See All (6)
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Payment Blockage Period. 7 Person...................................................... 7 PIK Securities.............................................. 7
Sample 1See All (5)
Payment Blockage Period. Section 6.2................................... 36
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Payment Blockage Period. 20 7.4 Acceleration of Subordinated Notes .....................20 7.5 Insolvency, Bankruptcy, etc ............................21 7.6 Maturity or Acceleration of Senior Debt ................22 7.7
Sample 1
Payment Blockage Period. During any Payment Blockage Period, unless and until all Senior Debt shall have been paid in full, or each Blockage Default shall have been remedied or waived or shall have ceased to exist, no direct or indirect payment (in cash, property or securities or by set-off or otherwise) shall be made or agreed to be made by or on behalf of the Company or from any of its properties or from any other source on account of the principal of, or interest on any Note, or in respect of any prepayment, redemption, retirement, purchase or other acquisition of any of the Notes or of any judgment for any of the foregoing; provided that, the Company shall promptly inform each holder of the Notes of the existence of such Blockage Default, specifying whether such Blockage Default(s) is a Senior Payment Default(s) and/or a Senior Covenant Default(s) and describing such Blockage Default(s) with particularity; provided further, that any such failure on the part of the Company to so notify each holder of the Notes of any such Blockage Default(s) shall not in any way affect the validity of the Payment Blockage Period.
Sample 1
Payment Blockage Period. The term "Payment Blockage Period" shall be any period commencing on the date of receipt by the Subordinated Lender from the Senior Lender (with a copy to the Companies and WC Holdings) of a written notice specifying that a Senior Payment Default has occurred and is continuing (and a brief description thereof) and ending on the earlier to occur of: (a) the date on which such Senior Payment Default has been cured, or waived in writing by the Senior Lender, or the Payment Blockage Period shall have been terminated by written notice to the Subordinated Lender from the Senior Lender; (b) the date on which the Senior Indebtedness is paid in full and the obligation of the Senior Lender to extend further credit to the Companies under the Senior Loan Documents is terminated; and (c) the commencement of a Reorganization, in which case the provisions of Section 3.3 hereof shall apply.
Sample 1
Payment Blockage Period. 6 Person . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6
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Payment Blockage Period. (a) Senior Lender may issue a Payment Blockage Notice if a Default exists under the Senior Debt Documents.
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Payment Blockage Period. 11.01(b) Payment Blockage Notice.......................................................................... 11.01(b) Payment Default.................................................................................. 11.01(b) Principal Value Conversion....................................................................... 10.02
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Related to Payment Blockage Period

  • Payment Period Whenever a payment under this Agreement specifies a payment period with reference to a number of days (e.g., “payment shall be made within forty (40) days following the date of termination), the actual date of payment within the specified period shall be within the sole discretion of the Company.

  • Payment Grace Period The Borrower shall have a ten (10) day grace period to pay any monetary amounts due under this Note, after which grace period a default interest rate of fifteen percent (15%) per annum shall apply to the amounts owed hereunder.

  • Funding Period The Funding Period, if any, shall not have terminated.

  • Average Log Length and Payment Reduction If the average log length for all logs delivered under this contract is less than the average log length specified in the table in clause G-024.2, The amount of allowable payment reduction shall be calculated by multiplying the payment rate in P-028.2 by the total volume delivered, and the difference between the average length of logs delivered and the average log length specified in G-024.2, times 1% as follows: Log Length Payment Reduction = (B x V x L) x (.01) 1/10th) Where: B = Bid rate from P-028.2 clause V = total delivered log Volume L = Length in feet below specified average (rounded to nearest Average log length payment reductions calculated by the Purchaser must be approved by the State, prior to payment for the final billing period. Third-party scaling organization information is required to determine Xxxxxxxx mbf and Average log length for payment reduction purposes. Average log length is determined on a piece count basis. Value of log length price reduction will be derived from the applicable sort value as described in this contract. Scale information for determining Average log length for payment reduction eligibility must be obtained from roll-out scale. Truck-ramp, sample scaling, and/or bundle scaling information is not acceptable for determining eligibility. Purchaser’s exclusive remedy for below average log lengths shall be the payment reduction described in this clause, notwithstanding other provisions in the Uniform Commercial Code.

  • Extension of Interest Payment Period The Company shall have the right, at any time and from time to time during the term of the Debentures so long as no Event of Default has occurred and is continuing, to defer payments of interest by extending the interest payment period of such Debentures for a period not exceeding 20 consecutive quarters (the "Extended Interest Payment Period"), during which Extended Interest Payment Period no interest shall be due and payable; provided that no Extended Interest Payment Period may extend beyond the Maturity Date or end on a date other than an Interest Payment Date. To the extent permitted by applicable law, interest, the payment of which has been deferred because of the extension of the interest payment period pursuant to this Section 4.1, shall bear interest thereon at the Coupon Rate compounded quarterly for each quarter of the Extended Interest Payment Period ("Compounded Interest"). At the end of the Extended Interest Payment Period, the Company shall calculate (and deliver such calculation to the Trustee) and pay all interest accrued and unpaid on the Debentures, including any Additional Interest and Compounded Interest (together, "Deferred Interest") that shall be payable to the holders of the Debentures in whose names the Debentures are registered in the Debenture Register on the first record date after the end of the Extended Interest Payment Period. Before the termination of any Extended Interest Payment Period, the Company may further extend such period so long as no Event of Default has occurred and is continuing, provided that such period together with all such further extensions thereof shall not exceed 20 consecutive quarters, or extend beyond the Maturity Date of the Debentures or end on a date other than an Interest Payment Date. Upon the termination of any Extended Interest Payment Period and upon the payment of all Deferred Interest then due, the Company may commence a new Extended Interest Payment Period, subject to the foregoing requirements. No interest shall be due and payable during an Extended Interest Payment Period, except at the end thereof, but the Company may prepay at any time all or any portion of the interest accrued during an Extended Interest Payment Period.

  • Compensation for Breakage or Non-Commencement of Interest Periods Borrower shall compensate each Lender, as promptly as practicable after written request by such Lender (which request shall set forth the basis for requesting such amounts and shall be conclusive absent manifest error), for all reasonable losses, expenses and liabilities (including any interest paid or calculated to be due and payable by such Lender to lenders of funds borrowed by it to make or carry its Eurodollar Rate Loans and any loss, expense or liability sustained by such Lender in connection with the liquidation or deployment of such funds but excluding loss of anticipated profits) which such Lender may sustain: (i) if for any reason (other than a default by such Lender) a borrowing of any Eurodollar Rate Loan does not occur on a date specified therefor in a Funding Notice or a telephonic request for borrowing, or a conversion to or continuation of any Eurodollar Rate Loan does not occur on a date specified therefor in a Conversion/Continuation Notice or a telephonic request for conversion or continuation; (ii) if any prepayment or other principal payment of, or any conversion of, any of its Eurodollar Rate Loans occurs on a date prior to the last day of an Interest Period applicable to that Loan; or (iii) if any prepayment of any of its Eurodollar Rate Loans is not made on any date specified in a notice of prepayment given by Borrower.

  • Extension Period Any extension hereof shall be subject to the provisions of Article III hereof.

  • Company’s Failure to Timely Convert If within two (2) Trading Days after the Company's receipt of the facsimile or email copy of a Conversion Notice the Company shall fail to issue and deliver to Holder via “DWAC/FAST” electronic transfer the number of shares of Common Stock to which the Holder is entitled upon such holder's conversion of any Conversion Amount (a "Conversion Failure"), the Original Principal Amount of the Note shall increase by $2,000 per day until the Company issues and delivers a certificate to the Holder or credit the Holder's balance account with DTC for the number of shares of Common Stock to which the Holder is entitled upon such holder's conversion of any Conversion Amount (under Holder’s and Company’s expectation that any damages will tack back to the Issuance Date). Company will not be subject to any penalties once its transfer agent processes the shares to the DWAC system. If the Company fails to deliver shares in accordance with the timeframe stated in this Section, resulting in a Conversion Failure, the Holder, at any time prior to selling all of those shares, may rescind any portion, in whole or in part, of that particular conversion attributable to the unsold shares and have the rescinded conversion amount returned to the Outstanding Balance with the rescinded conversion shares returned to the Company (under Xxxxxx’s and Company’s expectations that any returned conversion amounts will tack back to the original date of the Note).

  • Call Back Time Any employee called back to work after completion of his/her regular assignment shall be compensated for at least two (2) hours of work at the overtime rate, irrespective of the actual time worked.

  • Notice of Termination Payment As soon as practicable after calculation of a Termination Payment, notice shall be given by the Non-Defaulting Party to the Defaulting Party of the amount of the Termination Payment and whether the Termination Payment is due to or due from the Non-Defaulting Party. The notice shall include a written statement explaining in reasonable detail the calculation of such amount. Subject to Section 5.4(b) above, the Termination Payment shall be made by the Party that owes it within three (3) Business Days after such notice is effective.

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