Payment by the Partnership Sample Clauses

Payment by the Partnership. In accordance with Section 6225 of the Code, the Partnership shall pay an imputed underpayment as calculated under Section 6225(b) of the Code with respect to the IRS Adjustment, including interest and penalties (“Imputed Tax Underpayment”) in the Adjustment Year. The Partnership Representative shall use commercially reasonable efforts to pursue available procedures to reduce any Imputed Tax Underpayment on account of any Partner’s tax status and each Partner shall promptly comply with any reasonable request made by the Partnership Representative to accommodate such procedures.
Sample 1Sample 2Sample 3See All (55)
AutoNDA by SimpleDocs
Payment by the Partnership. On the Admission Date, the -------------------------- Partnership shall pay ZCC III that portion of the Contract Price in full payment for the number of Turbines then purchased pursuant to Section 4.1 above, together with the Related Turbine Equipment pertaining thereto and the Power Substation, which is equal to the product of $168,000 and the number of Turbines then purchased. Such payment shall be made at the time of the execution of the related Turbine Completion Certificate and the Power Substation Completion Certificate by ZCC III and the Partnership and the Power Transfer Facilities Completion Certificate by Zond. Upon each purchase of additional Turbines and the Related Turbine Equipment pertaining thereto in accordance with the provisions of Section 4.1 above, the Partnership shall pay that portion of the Contact Price, in full payment for such Turbines and the Related Turbine Equipment pertaining thereto, which is equal to the product of $168,000 and the number of Turbines then purchased. Such payment shall be made at the time of the execution of the related Turbine Completion Certificate by ZCC III and the Partnership. Forty-nine percent (49%) of the Contact Price payable upon each purchase of Turbines shall be paid in~ cash or by check, with the balance of the Contract Price being represented by a Series A Purchase Note which shall be in such form as the parties shall agree. Each Series A Purchase Note shall bear interest, compounded semiannually, at the greater of (i) 11.25% per annum and (ii) the lowest rate then in effect to avoid imputed interest under the Internal Revenue Code of 1954, as amended, and the regulations thereunder, and shall be secured by such Turbines, the Related Turbine Equipment pertaining thereto, the Power Substation and by such other collateral as the Partnership and ZCC III shall agree, all as set forth in a security agreement executed by the Partnership and ZCC III.
Sample 1
Payment by the Partnership. In the event that the Bank terminates this Agreement pursuant to subsection 7.1.4(a), including on the basis of the Partnership's failure to provide funds (or cause funds to be provided) to the Exchange Agent pursuant to Section 2.4.2, the Partnership agrees to pay to the Bank the sum of (a) $200,000, plus (b) all of the Bank's Expenses, not to exceed $75,000, as liquidated damages, and if the Partnership pays (or causes to be paid) such amount to the Bank within ten (10) Business Days of the Partnership's receipt from the Bank of an invoice therefor, which period shall be extended by an additional reasonable time if the Partnership has reasonably disputed the existence or amount of such obligations, the Bank's receipt of such payment shall constitute an exclusive remedy, and following such receipt and acceptance, the Bank shall be barred from recovering damages for any breach of any term of this Agreement.
Sample 1
Payment by the Partnership. On the Admission Date, the -------------------------- Partnership shall pay ZCC IV that portion of the Contract Price in full payment for the number of Turbines then purchased pursuant to Section 4.1 above, together with the Related Turbine Equipment pertaining thereto and the Power Substation which is equal to the product of $160,000 and the number of Turbines then purchased. Such payment shall be made at the time of the execution of the related Turbine Completion Certificate and the Power Substation Completion Certificate by ZCC IV. Upon each purchase of additional Turbines and the Related Turbine Equipment pertaining thereto in accordance with the provisions of Section 4.1 above, the Partnership shall pay that portion of the Contract Price, in full payment for such Turbines and the Related Turbine Equipment pertaining thereto, which is equal to the product of $160,000 and the number of Turbines then purchased. Such payment shall be made at the time of the execution of the related Turbine Completion Certificate by ZCC IV and the Partnership.
Sample 1

Related to Payment by the Partnership

  • Employment by the Company Executive agrees to be employed by the Company during the Term upon the terms and subject to the conditions set forth in this Agreement. Executive shall serve as an executive of the Company and shall have such duties as may be prescribed by the Company and shall serve in such other and/or additional position(s) as the Company may determine from time to time.

  • Assignment by the Executive This Agreement will inure to the benefit of and be enforceable by the Executive’s personal or legal representatives, executors, administrators, successors, heirs, distributees, devisees, and legatees. If the Executive dies while any amount would still be payable to him hereunder had he continued to live, all such amounts, unless otherwise provided herein, will be paid in accordance with the terms of this Agreement to the Executive’s Beneficiary. If the Executive has not named a Beneficiary, then such amounts will be paid to the Executive’s devisee, legatee, or other designee, or if there is no such designee, to the Executive’s estate, and such designee, or the Executive’s estate will be treated as the Beneficiary hereunder.

  • Assignment by the Company The rights, interests or obligations of the Company hereunder may not be assigned, by operation of law or otherwise, in whole or in part, by the Company without the prior written consent of the Investor.

  • Performance by the Company The Company shall have performed, satisfied and complied in all material respects with all covenants, agreements and conditions required by this Agreement to be performed, satisfied or complied with by the Company.

Time is Money Join Law Insider Premium to draft better contracts faster.