Release Payment. The payments and benefits provided for in Section 5(b)(ii) through (iv) or Section 5(c) shall be conditioned on (a) the Executive’s continued compliance with the obligations of the Executive under Sections 8 and 9 and (b) the Executive or, in the event of the Executive’s death, the Executive’s estate, executing and delivering to the Company a full release of all claims that the Executive, the Executive’s heirs and assigns may have against the Company, its affiliates and subsidiaries and each of their respective directors, officers, employees and agents, in a form reasonably acceptable to the Company and the Executive (the “Release”). The Release must become enforceable and irrevocable on or before the sixtieth (60th) day following the Termination Date. If the Executive (or the Executive estate) fails to execute without revocation the Release, the Executive shall be entitled to the Accrued Obligations only and no other benefits. The installments of severance provided under Section 5(b)(iv) shall commence in the calendar month following the month in which the Release becomes enforceable and irrevocable. If, however, the sixty (60) day period in which the Release must become enforceable and irrevocable begins in one year and ends in the following year, the Company shall commence payment of the severance installments in the second year in the later of January and the first calendar month following the month in which the Release becomes effective and irrevocable. The first installment shall include, however, all amounts that would otherwise have been paid to the Executive between the Termination Date and the Executive’s receipt of the first installment, assuming the first installment would otherwise have been paid in the month following the month in which the Termination Date occurs. The Pro-Rata Bonus payable in Section 5 shall be paid in accordance with the Company’s applicable Bonus Program.
Release Payment. In most cases, a release from an original lease agreement can offset the Landlord’s finances. To control the costs of the lost money, a consideration for such release of rent payment(s) is often warranted. Produce the exact dollar amount the Tenant should pay the Landlord in exchange for being absolved of completing the current lease. IV. Move-Out (7) Move-Out Date. The precise date that the Tenant(s) being released will be expected to move out and remove all of his or her property from the premises should be established in the ninth article. (8)
Release Payment. The Executive’s entitlement to Severance and benefits set forth in Section 5(b) and Section 5(e) is conditioned on (A) the Executive’s executing and delivering to the Company of a mutual release of claims substantially in the form attached hereto as Exhibit A within forty-five (45) days following the Termination Date, and on such release becoming effective, (B) the Executive’s return of all Company property, data and documents to the Company as of the Termination Date, and (C) the Executive’s compliance with the restrictive covenants set forth in Sections 8 and 9; provided, that if such forty-five (45) day period begins in one taxable year and ends in the following taxable year, the Severance shall commence in the second taxable year (and any payments that would have been made in the first taxable year shall be paid in a lump sum at the time payments commence pursuant to Section 5(b) or 5(e), as the case may be).
Release Payment. (a) After the Termination Date (as defined below), this Deed of Trust shall terminate (provided that all indemnities set forth herein shall survive any such termination) and the Beneficiary, at the request and expense of the Trustor, will execute and deliver to the Trustor a proper instrument or instruments acknowledging the satisfaction and termination of this Deed of Trust. As used in this Deed of Trust, (i) "CA Termination Date" shall mean the date upon which the Total Commitment has been terminated, no Letter of Credit or Note under the Credit Agreement is outstanding and all other Credit Document Obligations have been paid in full in cash (other than arising from indemnities for which no request for payment has been made) and (ii) "Termination Date" shall mean the date upon which (x) the CA Termination Date shall have occurred and (y) if (but only if) a Notified Non-Credit Agreement Event of Default (as defined below) shall have occurred and be continuing on the CA Termination Date (and after giving effect thereto), either (I) such Notified Non-Credit Agreement Event of Default shall have been cured or waived by the requisite holders of the relevant Obligations subject to such Notified Non-Credit Agreement Event of Default or (II) all Secured Hedging Agreements (if any) giving rise to a Notified Non-Credit Agreement Event of Default shall have been terminated and all Obligations subject to such Notified Non-Credit Agreement Event of Default shall have been paid in full (other than arising from indemnities for which no request for payment has been made). As used herein "Notified Non-Credit Agreement Event of Default" means (i) the acceleration of the maturity of any New Senior Notes or Refinancing Senior Notes or the failure to pay at maturity any New Senior Notes or Refinancing Senior Notes, or the occurrence of any bankruptcy or insolvency Event of Default under the New Senior Notes Indenture or the Refinancing Senior Notes Indenture, or (ii) any Event of Default under a Secured Hedging Agreement, in the case of any event described in clause (i) or (ii) to the extent the New Senior Notes Trustee, the Refinancing Senior Notes Trustee or the relevant Hedging Creditor, as the case may be, has given written notice to the Beneficiary that a "Notified Non-Credit Agreement Event of Default" exists; provided that such written notice may only be given if such Event of Default is continuing and, provided further, that any such Notified Non-Credit Agreement Eve...
Release Payment. The payments and benefits provided for in Sections 5(b) shall be conditioned on the Executive executing and delivering to the Company a full release of all claims that the Executive may have against the Company, and its directors, officers, employees and agents in a form reasonably acceptable to the Company (the “Release”). The Release must become enforceable and irrevocable on or before sixtieth (60th) day following the Termination Date. If the Executive fails to execute and deliver the Release, he shall be entitled to the Accrued Obligations only and no other benefits under Section 5(b).
Release Payment. In consideration for the release provided by Section 2.8, MORPHOSYS shall pay XOMA a one time, non-refundable payment of One Million United States Dollars (US$1,000,000), which shall be applied retroactively as a fee for license from the first infringing use by MORPHOSYS through the Effective Date. This payment shall be paid within thirty (30) days of the receipt of a fully executed copy of the Agreement.
Release Payment. For the purposes of this Agreement "Release Payment" means the payment by the Company of the amounts referenced in Section 2.1.
Release Payment. Infinity will make the following payments, which, along with other amendments from the Original Agreement reflected in this Agreement, are in consideration for the termination of the Released Oncology Rights:
Release Payment. Payment of the benefits provided by Sections 6(c)(ii), 6(c)(iii), 6(d)(ii), 6(d)(iii) and 6(d)(iv) shall be conditioned on the Executive’s or, in the event of his death, his estate’s, execution and delivery to the Company of a full release of all claims that the Executive, his heirs and assigns may have against the Company, its Affiliates and each of their respective directors, officers, employees and agents, in substantially the form attached hereto as Exhibit D (the “Release”). The Release must become enforceable and irrevocable on or before the sixtieth (60th) day following the Termination Date (the “Review Period”). If the Executive (or his estate) fails to execute and deliver the Release without revocation within the prescribed time period, the Executive shall not be entitled to any benefits under Section 6 other than the Accrued Obligations. The installments of severance provided under Section 6(d)(ii) shall commence in the calendar month following the month in which the Release becomes enforceable and irrevocable; provided, however, that if the Review Period begins in one taxable year of the Executive and ends in a later taxable year, the installments of the severance shall commence in the later taxable year. The first installment shall include, however, all amounts that would otherwise have been paid to the Executive between the Termination Date and the Executive’s receipt of the first installment, assuming the first installment would otherwise have been paid in the month following the month in which the Termination Date occurs.
Release Payment. The payments and benefits provided for in SECTIONS 5(B) shall be conditioned on the Executive executing and delivering to the Company a full release of all claims that the Executive may have against the Company, and its directors, officers, employees and agents in a form reasonably acceptable to the Company (the "RELEASE"). The Release must become enforceable and irrevocable on or before the sixtieth (60th) day following the Termination Date. If the Executive fails to execute and deliver the Release, he shall be entitled to the Accrued Obligations only and no other benefits under SECTION 5(B). The continued payment of base salary provided under SECTION 5(B) (III) shall be paid in accordance with the Company's normal payroll practices and shall commence on the next payroll date falling after the date the Release becomes enforceable and irrevocable.
