Payment in Specie Clause Samples
The Payment in Specie clause defines the requirement or option for fulfilling payment obligations using a specific asset or property, rather than cash. In practice, this means that a party may settle a debt or obligation by transferring ownership of tangible goods, securities, or other non-cash assets as agreed in the contract. This clause is particularly useful in transactions where cash may not be readily available or where the parties prefer to use alternative assets, thereby providing flexibility and accommodating unique business needs.
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Payment in Specie. Upon the resolution of the Board of Directors, the Company (i) may cause any moneys, investments or other assets forming part of the undivided profits of the Company, standing to the credit of a reserve fund or to the credit of a reserve fund for the redemption of capital, or in the control of the Company and available for dividends, or representing premiums received on the issuance of shares and standing to the credit of the share premium account, to be capitalized and distributed among such of the shareholders as would be entitled to receive the same if distributed by way of dividend and in the same proportion, on the basis that they become entitled thereto as capital, or may cause any part of such capitalized fund to be applied on behalf of such shareholders in paying up in full, either at par or at such premium as the resolution may provide, any unissued shares or debentures or debenture stock of the Company that shall be distributed accordingly, in payment, in whole or in part, of the uncalled liability on any issued shares or debentures or debenture stock; and (ii) may cause such distribution or payment to be accepted by such shareholders in full satisfaction of their interest in the said capitalized sum.
Payment in Specie. If so declared by the Board of Directors, a dividend declared in accordance with Article 51 may be paid, in whole or in part, by the distribution of specific assets of the Company or by distribution of paid up shares, debentures or other securities of the Company or of any other companies, or in any combination thereof, in each case, the fair value of which shall be determined by the Board of Directors in good faith.
Payment in Specie. Upon the recommendation of the Board of Directors approved by Ordinary Resolution of the Company, a dividend may be paid, wholly or partly, by the distribution of specific assets of the Company or by distribution of paid up shares, debentures or debenture stock of the Company or of any other companies, or in any one or more of such ways.
Payment in Specie. The Lender retains the option to accept repayment of the Advances in tangible or intangible property, provided that such property and the United States Dollar value ascribed to such property are acceptable to the Lender in its sole discretion. Any appraisal costs shall be at the expense of the Borrower.
Payment in Specie. Upon the declaration of a dividend in accordance with Article 59, a dividend may be paid, wholly or partly, by the distribution of specific assets of the Company or by distribution of paid up shares, debentures or debenture stock of the Company or of any other companies, or in any one or more of such ways.
Payment in Specie. Upon the declaration of a dividend in accordance with Article 59, a dividend may be paid, wholly or partly, by the distribution of specific assets of the Company or by distribution of paid up Shares, debentures or debenture stock of the Company or of any other companies, or in any one or more of such ways.
Payment in Specie. Upon the recommendation of the Board, dividends may be paid, wholly or partly, by the distribution of specific assets of the Company and/or by the distribution of shares and/or debentures of the Company and/or of any other company, or in any combination of such manners.