Payment of Difference Clause Samples

Payment of Difference. If and so often as at any time (whether during, or at the end of, an Interest Period) during which the Loan is denominated in an Optional Currency the Lender shall determine that, at the current spot rate of exchange for the purchase of Dollars with the Optional Currency, the amount of the Loan is greater than 110 per cent. of the Original Dollar Amount of the Loan (for the purposes of this Clause 4.6, the “excess”) the Borrower shall, within 3 Business Days’ of notice from the Lender: (a) deposit in an account (which shall, at the cost of the Borrower, be pledged in favour of the Lender) with the Lender an amount in the Optional Currency equal to the excess if the amount of the Loan (at the then current spot rate of exchange for the purchase of Dollars with the relevant Optional Currency) does not exceed 120 per cent. of the Original Dollar Amount of the Loan. Amounts paid pursuant to this Clause 4.6(a) shall be retained on the deposit account until such time as the amount of the Loan (at the then current spot rate of exchange for the purchase of Dollars with the relevant Optional Currency) shall be less than 110 per cent. of the Original Dollar Amount of the Loan for a period of 10 consecutive Business Days whereupon the amount on the deposit account shall, following a request from the Borrower, be released to the Borrower; and (b) pay to the Retention Account an amount in the Optional Currency equal to the excess if the amount of the Loan (at the then current spot rate of exchange for the purchase of Dollars with the relevant Optional Currency) exceeds 120 per cent. of the Original Dollar Amount of the Loan. Amounts paid pursuant to this Clause 4.6(b) shall be retained by the Lender and applied on the last day of the then current Interest Period in prepayment of the Loan.

Payment of Difference. Any amount of cash and collected receivables that pertain to the Excluded Assets, which is in excess of the amount of payments that pertain to the Excluded Liabilities, will be paid by the Purchaser to the Vendor on or before April 30, 2000. Any amount of cash and collected receivables that pertain to the Excluded Assets which is less than the amount of payments that pertain to the Excluded Liabilities will be paid by the Vendor to the Purchaser on or before April 30, 2000. All account receivables collected by the Purchaser after April 15, 2000 shall be paid to the Vendor within ten (10) days of receipt.

Payment of Difference. The amount of the difference between the Preliminary Amount paid by Buyer to Sellers at the Closing and the amount as determined in accordance with this Section, shall be paid by the appropriate party to the party to whom it is owed within five Business Days after its final determination in immediately available funds.

Payment of Difference. 8 2.8 Right of Set-Off..................................................................................8 2.9

Payment of Difference. Any amount of cash and collected receivables that pertain to the Excluded Assets, which is in excess of the amount of payments that pertain to the Excluded Liabilities, will be paid by the Purchaser to Heritage, its successor or assigns on or before the day which is 60 days following the Reconciliation Date (the "Reconciliation Payment Date"). Any amount of cash and collected receivables that pertain to the Excluded Assets which is less than the amount of payments that pertain to the Excluded Liabilities (the "Heritage Reconciliation Payment") will be paid by Heritage to the Purchaser on or before the Reconciliation Payment Date, at the option of Heritage, in cash or by way of Heritage returning to the Purchaser that amount of the Neptune Shares which equals the Heritage Reconciliation Payment divided by the average aggregate closing price of the Neptune Shares on the NASD OTC Bulletin Board, or other stock exchange in the United States of America on which the Neptune Common Stock is listed, for the 30 day period preceding the first trading day following the Reconciliation Date and rounding the quotient to the nearest whole number.