Common use of Payment Obligations Absolute Clause in Contracts

Payment Obligations Absolute. Provided that the preconditions for payment set forth in this Agreement are fully satisfied, Company's obligation to pay Executive the severance payments provided herein shall be absolute and unconditional and shall not be affected by any circumstances, including, without limitation, any set-off counter claim, recoupment, defense or other right which Company may have against Executive. All amounts payable by Company hereunder shall be paid without notice or demand.

Appears in 11 contracts

Samples: Change of Control Agreement (DNB Financial Corp /Pa/), Change of Control Agreement (DNB Financial Corp /Pa/), Change of Control Agreement (DNB Financial Corp /Pa/)

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Payment Obligations Absolute. Provided that the preconditions for payment set forth in this Agreement are fully satisfied, Company's ’s obligation to pay Executive the severance payments provided herein shall be absolute and unconditional and shall not be affected by any circumstances, including, without limitation, any set-off counter claim, recoupment, defense or other right which Company may have against Executive. All amounts payable by Company hereunder shall be paid without notice or demand.

Appears in 3 contracts

Samples: Change of Control Agreement (DNB Financial Corp /Pa/), Change of Control Agreement (DNB Financial Corp /Pa/), Change of Control Agreement (DNB Financial Corp /Pa/)

Payment Obligations Absolute. Provided that the preconditions for payment set forth in this Agreement are fully satisfied, Company's obligation to pay Executive Director the severance payments provided herein shall be absolute and unconditional and shall not be affected by any circumstances, including, without limitation, any set-off counter claim, recoupment, defense or other right which Company may have against ExecutiveDirector. All amounts payable by Company hereunder shall be paid without notice or demand.

Appears in 3 contracts

Samples: Change of Control Agreement (DNB Financial Corp /Pa/), Change of Control Agreement (DNB Financial Corp /Pa/), Retirement and Change of Control Agreement (DNB Financial Corp /Pa/)

Payment Obligations Absolute. Provided that the preconditions for payment set forth in this Agreement are fully satisfied, Company's Bank’s obligation to pay Executive the severance payments payment provided herein shall be absolute and unconditional and shall not be affected by any circumstances, including, without limitation, any set-off counter claim, recoupment, defense or other right which Company Bank may have against Executive. All amounts payable by Company Bank hereunder shall be paid without notice or demand.

Appears in 3 contracts

Samples: Change of Control Agreement (Customers Bancorp, Inc.), Change of Control Agreement (Customers Bancorp, Inc.), Change of Control Agreement (Customers Bancorp, Inc.)

Payment Obligations Absolute. Provided that the preconditions for payment set forth in this Agreement are fully satisfied, the Company's obligation to pay Executive Employee the severance payments provided herein shall be absolute and unconditional and shall not be affected by any circumstances, including, without limitation, any set-off counter claim, recoupment, defense or other right which the Company may have against ExecutiveEmployee. All amounts payable by the Company hereunder shall be paid without notice or demand.

Appears in 2 contracts

Samples: Employment Agreement (DNB Financial Corp /Pa/), Employment Agreement (DNB Financial Corp /Pa/)

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Payment Obligations Absolute. Provided that the preconditions for payment set forth in this Agreement are fully satisfied, CompanyBank's obligation to pay Executive the severance payments payment provided herein shall be absolute and unconditional and shall not be affected by any circumstances, including, without limitation, any set-off counter claim, recoupment, defense or other right which Company Bank may have against Executive. All amounts payable by Company Bank hereunder shall be paid without notice or demand. 5.

Appears in 2 contracts

Samples: Change of Control Agreement (Customers Bancorp, Inc.), Change of Control Agreement (Customers Bancorp, Inc.)

Payment Obligations Absolute. Provided that the preconditions for payment set forth in this Agreement are fully satisfied, Company's obligation to pay Executive the severance payments provided herein shall be absolute and unconditional and shall not be affected by any circumstances, including, without limitation, any set-off counter claim, recoupment, defense or other right which Company may have against Executive. All amounts payable by Company hereunder shall be paid without notice or demand.. 

Appears in 1 contract

Samples: Change of Control Agreement (DNB Financial Corp /Pa/)

Payment Obligations Absolute. Provided that the preconditions for payment set forth in this Agreement are fully satisfied, CompanyBank's obligation to pay Executive the severance payments payment provided herein shall be absolute and unconditional and shall not be affected by any circumstances, including, without limitation, any set-off counter claim, recoupment, defense or other right which Company Bank may have against Executive. All amounts payable by Company Bank hereunder shall be paid without notice or demand.

Appears in 1 contract

Samples: Change of Control Agreement (Customers Bancorp, Inc.)

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