Repayment Provision Clause Samples

Repayment Provision. ▇▇▇▇▇▇ agrees that ▇▇▇▇▇▇▇▇ shall have the right, at his sole discretion, to repay the Loan by selling their interest in the subject real property to Lender for its then current fair market value. The parties shall mutually agree in good faith as to the fair market value of the property, but in no event shall the mutually agreed upon fair market value of the property be less than the amount the Borrower has invested in improvements of any kind to the property. The sale price of the property shall be applied to reduce any outstanding principal and interest that may be owing on the Loan at the time of the sale. If the sale price as determined herein is in excess of the outstanding principal and interest owing on the Loan at the time of the sale, such excess shall be paid to Borrower at close.

Repayment Provision. The associate understands and agrees that in the event employment with Cerner terminates voluntarily or involuntarily for cause within two (2) years from the date any recoverable relocation benefit was received, the associated relocation benefit is 100% recoverable during the first year and recoverable on a 12-month prorated basis during the second year. Recoverable benefits are explicitly noted as such in this Guideline. Cerner reserves the right to offset such amounts owed to Cerner against all salary, bonuses, accrue d time off pay, expense reimbursements and other Cerner monies owed to the associate, as allowable by law. Cerner also reserves the right to collect such amounts through legal means if necessary.

Repayment Provision. You agree that in the event employment with Cerner terminates voluntarily or involuntarily for cause within two (2) years from the date any recoverable mobility benefit was received, the associated relocation benefits are 100% recoverable during the first year and recoverable on a 12-month prorated basis during the second year. Recoverable benefits are explicitly noted as such in this Agreement. Cerner reserves the right to offset such amounts owed to Cerner against all salary, bonuses, vacation pay, expense reimbursements and other Cerner monies owed to the Associate, as allowable by law. Cerner also reserves the right to collect such amounts through legal means if necessary. /s/▇▇▇▇ ▇▇▇▇▇▇▇▇ 2/8/2017 ▇▇▇▇ ▇▇▇▇▇▇▇▇ Date /s/▇▇▇▇▇▇▇ ▇▇▇▇▇▇ 2/8/2017 ▇▇▇▇▇▇▇ ▇▇▇▇▇▇, Director, Global Mobility Date The U.S. Homeowner - Direct Reimbursement Relocation Guideline (the "Guideline") is a guide for associates of Cerner Corporation and its affiliated entities ("Cerner") who are considering or have accepted an offer involving relocation within the U.S., and a resource for managers and others responsible for administering Global Mobility programs. Cerner reserves the right to change any components of this Guideline at any time. This benefit is available to associates who are homeowners in the sending location and is only available once the relocation has been approved. The Associate should not contact or make any commitments to a real estate agent prior to initiation with Graebel. Cerner has contracted with Graebel, a national relocation service, to assist associates in selling their homes. The Associate will receive assistance in selecting the best possible real estate agent, developing a marketing strategy, monitoring the marketing plan, negotiating the sale and coordinating all aspects of closing. The objectives of the program are to benefit the Associate by: (1) increasing the Associate's ability to secure the highest sale price possible; (2) decreasing the cost to the Associate of customary seller paid expenses; (3) ensuring a timely receipt of the closing costs reimbursement; (4) eliminating as much time and hassle associated with the home sale process as possible; and (5) resettling the family in the new location in a shorter time frame.

Repayment Provision. The Associate understands and agrees that in the event employment with Cerner terminates voluntarily or involuntarily for cause within two (2) years from the Associate's hire date, transfer date or assignment start date (as applicable), the relocation and/or assignment benefits are 100% recoverable during the first year and recoverable on a 12-month prorated basis during the second year. Recoverable benefits will be noted in the Associate's Offer Letter, Relocation Agreement, Mobility Agreement or Assignment Agreement (as applicable). Cerner reserves the right to offset such amounts owed to Cerner against all salary, bonuses, vacation pay, expense reimbursements and other Cerner monies owed to the Associate. Cerner also reserves the right to collect such amounts through legal means if necessary. Cerner has the right, in its sole discretion to amend this Guideline or to terminate it at any time, for any reason or no reason at all. This Guideline shall not be considered or construed as an employment contract. Furthermore, this Guideline does not confer upon the Associate any right to continued employment, nor does it supersede the Associate's individual Employment Agreement or Cerner's administrative practices.