Payment of the Accrued Sample Clauses

Payment of the Accrued. Interest described in Section 1.2(ii) has been provided for by the purchase of a $120,000 market rate certificate of deposit (the "CD") on December 26, 1995. The CD, which matures on May 15, 1997, was purchased to fund such payments. Upon the maturity of the CD a new market rate certificate of deposit shall be purchased with a comparable maturity for the same purpose as long as Cochxxx xx entitled to deferred compensation payments under the Agreement. Any interest earned (the "Accrued Interest") on the CD and any subsequent certificates of deposit purchased under the Agreement shall be paid to Cochxxx xx follows: (i) on the first May 15 on which Cochxxx xx paid his first yearly deferred compensation payment under the Agreement, Cochxxx xxxll also be paid all Accrued Interest earned from the first date the CD and any subsequent certificates of deposit began earning interest through the May 15 of the year in which Cochxxx xx paid such first yearly payment; (ii) on the 15th day of May of each year thereafter through and including May 15, 2004, Cochxxx xxxll be paid all Accrued Interest earned from the CD and any subsequent certificates of deposit from May 15 of the previous calendar year through May 15 of the current payment year.
Sample 1
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Payment of the Accrued. Interest described in Section 1.2(ii) has been provided for by the purchase of a $120,000 market rate certificate of deposit (the "CD") on December 26, 1995. The CD, which has been or shall be replaced upon maturity as required from time to time to fulfill the terms of the Agreement, was purchased to fund such payments. Upon the maturity of the CD a new market rate certificate of deposit shall be purchased with a comparable maturity for the same purpose as long as Employee is entitled to deferred compensation payments under the Agreement. Any interest earned (the "Accrued Interest") on the CD and any subsequent certificates of deposit purchased under the Agreement shall be paid to Employee as follows: (i) on the first May 15 on which Employee is paid his first yearly deferred compensation payment under the Agreement, Employee shall also be paid all Accrued Interest earned from the first date the CD and any subsequent certificates of deposit began earning interest
Sample 1
Payment of the Accrued. Benefits pursuant to this Section 7(a) shall be made as soon as reasonably practicable following the Executive's termination of employment subject to such limitations and adjustments necessary to comply with Section 409A of the Internal Revenue Code of 1986, as amended (the "Code").
Sample 1
Payment of the Accrued. Interest described in Section 1.2(ii) has been provided for by the purchase of a $120,000 market rate certificate of deposit (the "CD") on December 26, 1995. The CD, which matures on May 15, 1997, was purchased to fund such payments. Upon the maturity of the CD a new market rate certificate of deposit shall be purchased with a comparable maturity for the same purpose as long as Employee is entitled to deferred compensation payments under the Agreement. Any interest earned (the "Accrued Interest") on the CD and any subsequent certificates of deposit purchased under the Agreement shall be paid to Employee as follows: (i) on the first May 15 on which Employee is paid his first yearly deferred compensation payment
Sample 1

Related to Payment of the Accrued

  • Payment of Amounts Due (a) In case an Event of Default described in clause (a) of Section 2.01 shall have happened and be continuing, then, upon demand of Beneficiary, Grantor will pay to Beneficiary the whole amount which then shall have become due and payable on the Note, for principal or interest or both, as the case may be, and after the happening of said Event of Default will also pay to Beneficiary interest at the Default Rate on the then unpaid principal of the Note, and the sums required to be paid by Grantor pursuant to any provision hereof, and in addition thereto such further amount as shall be sufficient to cover the costs and expenses of collection, including reasonable compensation to Trustee and Beneficiary, their agents and counsel and any expenses incurred by Trustee or Beneficiary hereunder. In the event Grantor shall fail forthwith to pay all such amounts upon such demand, Beneficiary shall be entitled and empowered to institute such action or proceedings at law or in equity as may be advised by its counsel for the collection of the sums so due and unpaid, and may prosecute any such action or proceedings to judgment or final decree, and may enforce any such judgment or final decree against Grantor and collect, out of the property of Grantor wherever situated, as well as out of the Mortgaged Property, in any manner provided by law, moneys adjudged or decreed to be payable.

  • Obligations of Company Upon Termination (a) In the event of the termination of Executive's employment pursuant to Section 7 (a), (b), (c) or (e), Executive will be entitled only to the compensation earned by him hereunder as of the date of such termination (plus life insurance or disability benefits if applicable and provided for pursuant to Section 4(c)).

  • Acceleration of the Obligations Upon or at any time after the occurrence and during the continuance of an Event of Default, (i) the Revolving Loan Commitments shall, at the option of Agent or Majority Lenders be terminated and/or (ii) Agent or Majority Lenders may declare all or any portion of the Obligations at once due and payable without presentment, demand protest or further notice by Agent or any Lender, and Borrowers shall forthwith pay to Agent, the full amount of such Obligations, provided, that upon the occurrence of an Event of Default specified in subsection 10.1.8 hereof, the Revolving Loan Commitments shall automatically be terminated and all of the Obligations shall become automatically due and payable, in each case without declaration, notice or demand by Agent or any Lender.

  • Certain Additional Payments In connection with any assignment of rights and obligations of any Defaulting Lender hereunder, no such assignment shall be effective unless and until, in addition to the other conditions thereto set forth herein, the parties to the assignment shall make such additional payments to the Administrative Agent in an aggregate amount sufficient, upon distribution thereof as appropriate (which may be outright payment, purchases by the assignee of participations or subparticipations, or other compensating actions, including funding, with the consent of the Borrower and the Administrative Agent, the applicable pro rata share of Loans previously requested but not funded by the Defaulting Lender, to each of which the applicable assignee and assignor hereby irrevocably consent), to (x) pay and satisfy in full all payment liabilities then owed by such Defaulting Lender to the Administrative Agent, the L/C Issuer or any Lender hereunder (and interest accrued thereon) and (y) acquire (and fund as appropriate) its full pro rata share of all Loans and participations in Letters of Credit and Swing Line Loans in accordance with its Applicable Percentage. Notwithstanding the foregoing, in the event that any assignment of rights and obligations of any Defaulting Lender hereunder shall become effective under applicable Law without compliance with the provisions of this paragraph, then the assignee of such interest shall be deemed to be a Defaulting Lender for all purposes of this Agreement until such compliance occurs.

  • Obligations of the Company Upon Termination (a) Termination by the Company for Cause or by the Executive other than for Good Reason. If, during the Employment Period, or any Additional Employment Period, the Executive’s employment with the Company is terminated by the Company for Cause or by the Executive other than for Good Reason (and not due to death or Disability), the Company shall have no further payment obligations to the Executive or his legal representatives under this Agreement, other than for:

  • Payment of Reimbursement Obligations (a) The Borrower agrees to pay to the Administrative Agent for the account of the Issuing Bank the amount of all Advances for Reimbursement Obligations, interest and other amounts payable to the Issuing Bank under or in connection with any Facility Letter of Credit when due, irrespective of any claim, set-off, defense or other right which the Borrower may have at any time against any Issuing Bank or any other Person, under all circumstances, including without limitation any of the following circumstances:

  • Payment of accrued interest In the case of an Interest Period longer than 3 months, accrued interest shall be paid every 3 months during that Interest Period and on the last day of that Interest Period.

  • Treatment of Passthru Payments and Gross Proceeds The Parties are committed to work together, along with Partner Jurisdictions, to develop a practical and effective alternative approach to achieve the policy objectives of foreign passthru payment and gross proceeds withholding that minimizes burden.

  • Timing of Reimbursements and In-kind Benefits If Executive is entitled to be paid or reimbursed for any taxable expenses under this Agreement, and such payments or reimbursements are includible in Executive’s federal gross taxable income, the amount of such expenses reimbursable in any one calendar year shall not affect the amount reimbursable in any other calendar year, and the reimbursement of an eligible expense must be made no later than December 31 of the year after the year in which the expense was incurred. No right of Executive to reimbursement of expenses under this Agreement shall be subject to liquidation or exchange for another benefit.

  • Payment of Amounts The Death Benefit payable on the death of the Owner, or after the death of the first Owner, or upon the death of the spouse who continues the Contract, will be distributed to the designated Beneficiary(s) as follows:

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