Settlement Payment Clause Samples
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Settlement Payment a. METROBANK shall, during the term and subject to the terms and conditions of this Agreement, pay to the MERCHANT at such time/s determined by METROBANK from time to time in accordance with the prevailing practice at the relevant time, the total amount of the Credit Card transactions effected with the MERCHANT which have been so submitted less: (i) the aggregate Discount Rate on all such Credit Card transactions; (ii) the government taxes; (iii) the aggregate refunds or rebates granted to Cardholders, if applicable; and (iv) all other amounts payable or due to METROBANK under this Agreement or otherwise.
b. As applicable, all payments made to the MERCHANT shall be made available to the MERCHANT by check, drawn in favor of the MERCHANT, or credited to the MERCHANT’s account with any branch of the Metropolitan Bank & Trust Company (“MBTC”) or with other banks, subject to METROBANK’s right at its discretion at any time to change the mode of such payment to the MERCHANT. For crediting to the MERCHANT’s account with other banks, the relevant transfer fees and other related charges shall be borne by the MERCHANT.
c. All approval codes given to the MERCHANT does not guarantee outright payment. There may be instance/s of fraud and/or disputes that may preclude such payment. If the MERCHANT does not raise any objection to the amount of payment by METROBANK within thirty (30) days after the date METROBANK issues the check or credits the MERCHANT’s account, the MERCHANT shall be deemed to have accepted such amount as correct; Provided that nothing in this Section shall preclude METROBANK from correcting any error or discrepancy in such amount paid.
d. Subject to the submission of proof to the contrary, any payment by METROBANK under this Agreement, whether or not the MERCHANT has complied with all its obligations under this Agreement, shall be made without prejudice to any claims, rights or remedies that METROBANK may have against the MERCHANT, and shall not constitute any admission or acknowledgment by METROBANK that the MERCHANT has duly performed its obligations under this Agreement or of the correctness of the amount so paid.
Settlement Payment. If and only if Final Court Approval is obtained, Bank of America and/or Countrywide shall pay or cause to be paid eight billion five hundred million dollars ($8,500,000,000.00) (the “Settlement Payment”) within one-hundred and twenty (120) days of the Approval Date, in accordance with the following provisions.
Settlement Payment. Provided that you sign and return this Agreement, and it thereafter becomes effective as described below, you will receive a settlement payment equivalent to ___________________of your base salary, for a total amount of $__________________ (“Settlement Payment”). Payment shall be made in bi-weekly installments in accordance with the Company’s normal payroll schedule, less applicable federal, state, and local taxes and other authorized deductions and shall be started within 15 days of the Termination Date.
Settlement Payment. 3.1 Within seven (7) days of the Effective Date, BSC shall pay or cause to be paid to Medinol the amount of seven hundred and fifty million dollars ($750,000,000) by wire transfer to an account directed by Medinol (the “Settlement Payment”) for the settlement of the U.S. Action. The Settlement Payment represents remuneration for lost commercial profits claimed by Medinol under Section 3.02(a) of the Supply Agreement relating to the alleged breaches of the Supply Agreement.
3.2 Effective upon Medinol’s receipt of the full amount of the Settlement Payment into the account specified by Medinol and the surrender and forfeiture of the BSC Equity Stake pursuant to Section 2.1, (a) the releases pursuant to Article 9 of this Agreement shall take effect, (b) the BSC-Medinol Agreements shall be canceled and terminated, to the extent not previously canceled and terminated, and (c) the Actions shall be dismissed with prejudice pursuant to Section 8.1.
3.3 The Parties agree that, upon Medinol’s receipt of the Settlement Payment, the BSC Companies have satisfied any monetary obligations arising out of the Supply Agreement and each of the other BSC-Medinol Agreements up to the Effective Date and that the Settlement Payment is in full and complete satisfaction of all monetary and other claims made or which could have been made by the Medinol Parties against the BSC Companies and its officers, directors and Affiliates prior to and through the Effective Date, stemming from the Supply Agreement and each of the other BSC-Medinol Agreements or the Express/Taxus Express Stents.
3.4 The Parties agree that, effective upon Medinol’s receipt of the Settlement Payment, Medinol and its officers, directors and Affiliates have no remaining monetary or other obligations to the BSC Companies arising out of the BSC-Medinol Agreements, except as contemplated in Article 4 of this Agreement.
3.5 The Parties agree that the Settlement Payment made pursuant to this Article does not cover any future infringement claims that may be made by Medinol. Such potential future claims are addressed in Article 5.
Settlement Payment. If the resulting net amount is positive, it shall be payable by the Defaulting Party to the Non-Defaulting Party, and if it is negative, then the absolute value of such amount shall be payable by the Non-Defaulting Party to the Defaulting Party.
Settlement Payment a. In the event and only upon the achievement of the “Threshold” level of performance with respect to the Performance Goals as described in the table(s) set forth in Exhibit A to this Agreement during the Performance Period, which achievement must be certified in writing by the Committee following the expiration of the Performance Period, you will receive such amount in cash up to your Maximum Potential Payout under this Annual Performance Award as determined pursuant to Section 3 and Exhibit A to this Agreement and subject to applicable withholding. If none of the Performance Goals are achieved at the “Threshold” level of performance or above, then this Annual Performance Award will be forfeited and canceled and you will receive no payment in settlement thereof. You may not receive a greater amount in cash than your Maximum Potential Payout.
b. In the event this Annual Performance Award is forfeited or cancelled for any reason pursuant to Sections 3, 5, 6 or 7 of this Agreement or otherwise, no payment shall be made in settlement of this Annual Performance Award.
c. Except as provided in paragraph (d) below, in no event will Toro make payment to you later than March 15 of the calendar year following the calendar year in which the Performance Period ends.
d. Notwithstanding any of the foregoing or any other provision of this Agreement, in the event you have properly elected to defer your receipt of any payment pursuant to this Annual Performance Award under The Toro Company Deferred Compensation Plan, as such plan may be amended from time to time, or any similar successor plan, you will receive such payment in accordance with your deferral election.
e. The payment pursuant to this Annual Performance Award shall be subject to all applicable laws, rules and regulations, and to such approvals by any governmental agencies or national securities exchanges as may be required.
Settlement Payment. In consideration for the release of the Released Claims and the dismissal with prejudice of the Action, within fourteen business days of the Court’s grant of Preliminary Approval, ▇▇▇▇▇▇▇▇▇ Farms shall pay or cause to be paid $38,300,000 (thirty-eight million three hundred thousand U.S. dollars) into the Settlement Fund.
▇. ▇▇▇▇▇▇▇▇▇ Farms’ payment to the Escrow Agent described herein shall be by wire transfer pursuant to instructions from the Escrow Agent or Interim Co-Lead Counsel.
b. The payment described in Section II(A)(1) shall constitute the total Settlement Amount and ▇▇▇▇▇▇▇▇▇ Farms shall have no other payment obligations to the Settlement Class or owe any further amount under this Settlement Agreement of the Action, and the obligations described in Section II(A)(2) shall continue so long as this Settlement Agreement remains in effect.
Settlement Payment. “Settlement Payment” is defined is Paragraph 4.a of this Agreement.
Settlement Payment. Within fourteen (14) days of receipt of a copy of this Agreement executed by all Parties, the Defendant shall deliver to KCC a check, money order, or cashier’s check in the amount of [settlement amount in words] ($ ) (the “Settlement Payment”) payable to the order of “KCC, Tribune MDL Settlement Administrator.” The amount of the Settlement Payment equals the sum of (i) the Step One transfer amount times 0.1625 and (ii) the Step Two transfer amount times 0.315. Plaintiffs agree that payment to KCC in accordance with this Agreement constitutes payment to Plaintiffs, and Defendant shall have no obligation for the delivery or distribution of the Settlement Payment from KCC to Plaintiffs.
Settlement Payment. (A) Deutsche Bank shall pay or cause to be paid the Settlement Amount into a mutually acceptable escrow account within fifteen (15) days of executing this Agreement. The terms of such account shall be negotiated by the Parties in good faith. All interest earned by any portion of the Settlement Amount paid into the Settlement Fund shall be added to and become part of the Settlement Fund. The settlement is non-recapture, i.e., it is not a “claims-made” settlement and, if this Settlement Agreement receives Final Approval, Deutsche Bank shall not be entitled to return of any of the consideration paid under any circumstances. Except in the event of termination pursuant to Section 21(A), Deutsche Bank shall not have a reversionary interest in the Settlement Fund.
(B) The Escrow Agent shall only act in accordance with instructions mutually agreed upon by the Parties in writing, except as otherwise provided in this Agreement or by Order of the Court.
(C) Deutsche Bank has denied any liability, fault, or wrongdoing of any kind in connection with the allegations in the Action, and as such neither the Settlement Agreement, nor any of its terms or provisions, nor any of the negotiations, term sheets, or proceedings connected with it, shall be construed as an admission or concession by Deutsche Bank of the truth of any of the allegations in the Action, or of any liability, fault, or wrongdoing of any kind. Other than payment of the Settlement Amount in accordance with the provisions of Section 3(A) above, neither Deutsche Bank nor any of the DB Released Parties shall have any liability, responsibility, or obligation to pay or reimburse any other amounts to any Person, including but not limited to Representative Plaintiffs, Interim Co-Lead Counsel, any member of the Settlement Class, or any Plaintiff Releasing Parties in connection with, relating to, or arising out of the Action, the Plaintiff Released Claims, or this Settlement Agreement. Deutsche Bank shall have no liability, obligation or responsibility whatsoever for making a payment into the Settlement Fund for any other Non-Settling Defendant. Deutsche Bank shall have no liability, obligation, or responsibility with respect to the investment, allocation, use, disbursement, administration, or oversight of the Settlement Fund.