Postponement of Payment Sample Clauses

Postponement of Payment. The Company may postpone the delivery of payment for the Performance Units for so long as the Company determines to be necessary or advisable to satisfy the following, subject to the requirements and limitations of Code Section 409A:
Sample 1Sample 2See All (4)
AutoNDA by SimpleDocs
Postponement of Payment. For its convenience, Mortgagee has elected not to exercise immediately its right to receive payment to it directly of the proceeds of any sale of the oil, gas and other minerals produced or sold from the Mortgaged Property and the purchasers may continue to make such payment or delivery of the proceeds to Mortgagor until such time as Mortgagor and the purchasers have received notice that an Event of Default has occurred and is continuing, and that the purchasers are directed to make payment or delivery of the proceeds directly to Mortgagee. Such failure by Mortgagee to exercise its rights immediately shall not in any way waive the right of Mortgagee to receive any of the proceeds, or to make any such demand, or to affect any such assignment as to any proceeds not theretofore paid or delivered to Mortgagor. In this regard, if any of the proceeds are paid or delivered directly to Mortgagee and then, at the request of Mortgagee, the proceeds are, for a period or periods of time, paid or delivered to Mortgagor, Mortgagee shall nevertheless have the right, effective upon written notice, to require that future proceeds be again paid or delivered directly to it. Mortgagee shall never be required to send any such notice to all purchasers, and may direct such notice only to those purchasers as it may, in its discretion, desire. It shall never be necessary for Mortgagee to institute legal proceedings to enforce the assignment of hydrocarbons, proceeds, or other rents, profits, or income contained in this instrument. It shall not be necessary for Mortgagee to obtain possession of the Mortgaged Property as a prerequisite to Mortgagee's right to collect or receive any hydrocarbons, other minerals, proceeds, or other rents, profits, or income assigned to Mortgagee under this instrument. Mortgagor and Mortgagee expressly agree and it is the express intention of Mortgagor and Mortgagee that in no event will any reduction in the obligations be measured by the fair market value of the hydrocarbons, other minerals, proceeds, or other rents, profits, or income assigned to Mortgagee under this instrument.
Sample 1See All (4)
Postponement of Payment. The Insured shall not agree to a postponement of the due date for payment of any part of the Insured Debt provided, however, that in the event of the need for such postponement arising at or shortly before the due date, the Insured may grant such postponement as may have been agreed upon with the Insurer. The extension of cover occasioned by such postponement of payment will be subject to such terms and conditions as the Insurer may specify at the time.
Sample 1
Postponement of Payment. SECTION 1.38. Notwithstanding any other provision of this Agreement, any payment to be made by the Partnership pursuant to Article XI hereof or otherwise hereunder to, or withdrawal of capital by, any Partner shall be postponed if, but only to the extent that, after giving effect to the payment or withdrawal, such payment or withdrawal, or any part thereof, would be prohibited by the provisions of Securities and Exchange Commission Rule 15c3-1 (or any successor Rule), or any Rule of the Exchange, or would render the Partnership unable to meet its capital requirements as a specialist firm on the Exchange. Any such postponement shall be until such time as the payment or withdrawal could be made pursuant to the provisions of said Rule 15c3-1 (or any successor Rule) and any Rule of the Exchange and until the Partnership, after giving effect to the payment or withdrawal, would be in compliance with its capital requirements as a specialist firm on the Exchange. In addition, any payment to be made by the Partnership pursuant to Article XI hereof or otherwise hereunder to, or withdrawal of capital by, any Partner shall be postponed if, but only to the extent that, after giving effect to the payment or withdrawal, such payment or withdrawal, or any part thereof, would contravene, result in any breach of, or constitute a default under, or result in the creation of any lien in respect of the property of the Partnership under, any indenture, mortgage, deed of trust, loan, purchase or credit agreement, lease, organizational document, or any other agreement or instrument to which the Partnership is bound or by which the Partnership or any of its properties may be bound or affected. In accordance with Rule 313.11 of the Exchange, all withdrawals of capital hereunder shall be made only with the prior written approval of the Exchange and upon six months written notice to the Partnership given no sooner than six months after such contribution was first made, unless a different period of notice is consented to by the General Partner and approved by the Exchange.
Sample 1
Postponement of Payment. Employee agrees to defer the base salary to which Employee is entitled for a period not to exceed twelve months from the date such installment of base salary is due (the "Deferral Period") until the earlier of the date Employer (i) has a positive cash flow, including general and administrative expenses and debt service requirements or (ii) has raised $1,000,000 in capital (including both debt and equity) or, (iii) or has received value of at least $1,000,000 of value in acquisition or merger for stock of Employer. Also, in addition, upon Employer raising an additional $1,000,000 in capital or receipt of value of $1,000,000, as aforesaid, Employee shall be entitled to a bonus of $100,000. Payments of salary deferred or postponed under this paragraph shall not bear interest.
Sample 1

Related to Postponement of Payment

  • Acceleration of Payments Except as specifically permitted herein, no acceleration of the time or schedule of any payment may be made hereunder. Notwithstanding the foregoing, payments may be accelerated, in accordance with the provisions of Treasury Regulation §1.409A-3(j)(4) in the following circumstances: (i) as a result of certain domestic relations orders; (ii) in compliance with ethics agreements with the federal government; (iii) in compliance with the ethics laws or conflicts of interest laws; (iv) in limited cashouts (but not in excess of the limit under Code §402(g)(1)(B)); (v) to pay employment-related taxes; or (vi) to pay any taxes that may become due at any time that the Agreement fails to meet the requirements of Code Section 409A.

  • Acceleration of Payment of Securities If payment of the Securities is accelerated because of an Event of Default, the Company or the Trustee shall promptly notify the holders of the Designated Senior Indebtedness (or their Representatives) of the acceleration.

  • Condition of Payment All services provided by the Contractor under this Contract must be performed to the State’s reasonable satisfaction, as determined at the discretion of the undersigned State representative and in accordance with all applicable federal, state, local laws, ordinances, rules and regulations. The State shall not be required to pay for work found to be unsatisfactory, inconsistent with this Contract or performed in violation of any federal, state or local statute, ordinance, rule or regulation.

  • Netting of Payments Subparagraph (ii) of Section 2(c) of this Agreement will apply to all Transactions (in each case starting from the date of this Agreement).

  • Confirmation of Payment The Administrative Agent and the Lenders will, upon request after payment of the Credit Party Obligations which are the subject of this Guaranty and termination of the Commitments relating thereto, confirm to the Borrower, the Guarantors or any other Person that such indebtedness and obligations have been paid and the Commitments relating thereto terminated, subject to the provisions of Section 10.2.

  • Manner of Payment All payments due under this Agreement shall be in lawful money of the United States of America in immediately available funds as each party hereto may specify to the other parties; provided, that in the event the Receiver or the Corporation is obligated to make any payment hereunder in the amount of $25,000.00 or less, such payment may be made by check.

  • Timing of Payment Notwithstanding anything herein to the contrary, if the date on which any payment is to be made pursuant to this Indenture or the Notes is not a Business Day, the payment otherwise payable on such date shall be payable on the next succeeding Business Day with the same force and effect as if made on such scheduled date and (provided such payment is made on such succeeding Business Day) no interest shall accrue on the amount of such payment from and after such scheduled date to the time of such payment on such next succeeding Business Day and the amount of any such payment that is an interest payment will reflect accrual only through the original payment date and not through the next succeeding Business Day.

  • Making of Payments Each payment by Borrower hereunder or under the Note shall be made in funds settled through the New York Clearing House Interbank Payments System or other funds immediately available to Lender by 1:00 p.m., New York City time, on the date such payment is due, to Lender by deposit to such account as Lender may designate by written notice to Borrower. Whenever any payment hereunder or under the Note shall be stated to be due on a day which is not a Business Day, such payment shall be made on the next succeeding Business Day.

  • Timing of Payment of Performance When the payment of any obligation or the performance of any covenant, duty or obligation is stated to be due or performance required on a day which is not a Business Day, the date of such payment (other than as described in the definition of Interest Period) or performance shall extend to the immediately succeeding Business Day.

  • Effect of Payment Neither approval of an application for payment, a progress payment, release of retainage, final payment, or partial or entire use or occupancy of the Project by the Owner shall constitute acceptance of work not conforming to the Contract Documents, or waiver of the right to assert overpayment.

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