Termination of Payment Sample Clauses

Termination of Payment. When o ner terminates the lease. Housing as- sistance payments terminate when the lease is terminated by the owner in ac- cordance with the lease. However, if the owner has commenced the process to evict the tenant, and if the family continues to reside in the unit, the PHA must continue to make housing
Sample 1
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Termination of Payment. The Company shall pay the Retirement Amount annually for a period equal to the aggregate length of time the director served on the Board of Directors up to December 5, 2002 (not including time served when a full-time employee of the Company), such period to be rounded up to the next full year; provided that the Company’s obligation shall earlier terminate (i) upon the death of the director, (ii) upon the termination of this Plan as to all then current and retired directors, in which case payment shall be made to all eligible retired directors for the year in which the termination of this Plan occurs and two additional years, or (iii) upon determination of the Board of Directors that the retired director is serving as a director, officer or employee of a competitor of the Company and the continuation of such relationship after 15 days written notice of such determination to the retired director. Approved by the Board of Directors: December 5, 2002
Sample 1
Termination of Payment. The parties hereto agree and acknowledge ---------------------- that SPL shall have no right to receive any further payments of the Complex Net Revenue Amount pursuant to Section 1.1 above immediately upon the occurrence of any event as expressly described in Section 10.7 of the Amended JV, and SPL's right to receive such payments shall thereafter be null, void and of no further legal effect.
Sample 1
Termination of Payment. Payments shall be made until the teacher is eligible for full Social Security or a maximum of five years, whichever is the lesser. The teacher's supplemental benefit shall be calculated by determining the actual number of years between the age of retirement and the age of unreduced Social Security multiplied by $4,000 from which the 403(b) offset amount, according to the 403(b) Reference Chart, is subtracted. Once the supplemental benefit has been calculated, the annual payments are determined by dividing the benefit into equal annual installments from the year of retirement until the date of unreduced Social Security, providing that the divisor and the subsequent annual payments shall never exceed five (5). The year the teacher qualifies for full Social Security, the Social Security supplemental payment shall be made on a pro-rated daily basis. The year shall be from August 15 to August 14 of the following year.
Sample 1
Termination of Payment. Obligation in respect of Excess Net ---------------------------------------------------------- Proceeds. The Company shall not be required to make any payment to -------- Mattel in respect of Excess Net Proceeds received by the Company in Liquidity Events with respect to which the initial closing occurs after the fifth anniversary of the Closing.
Sample 1
Termination of Payment. On the day of termination, the tenant pays the landlord an amount of five hundred and two thousand eight hundred ($502,800.00) dollars. 3. Landlord- Tenant Mutual release. In view of the distance and for other good and valuable consideration the lessor and the lessee hereby irrevocably and unconditionally remission, dismissal and forever dismissal of each other and each other's shareholders, members, officers, directors, managers, employees, agents, employees and agents and all persons acting through, through, under, or in concert with the other party, both personally and as its agents, or any of them , or any of the aforementioned heirs , personal agents, successors or agents, and from any debts, requirements, actions, causes, actions, actions, accounts, contracts, contracts, agreements, damages and all claims, counterclaims, requirements and obligations of all names and nature, both by law and in justice, which against any of the above releases, each party has or has had from the beginning of the world to the date of termination , including, without in any way limiting the generality of the forementioned, any claims, rights or obligations arising out of or in connection with the Lease. Each lessor and lessee expressly acknowledges and agrees that the obligations of the other party under this Agreement must be in full compliance with and fulfilment of all obligations that the other party has or is alleged to have under the terms of the lease, and that no party has any other right, right or claim of any kind under the lease. Each Party hereby acknowledges and agrees that the above release is intended as a complete and complete release of all of the above claims that it may or may have, and by accepting the terms of this Agreement it does so upon full settlement of all such claims. The lessee hereby waives and waives any right, title or claim of any nature that the tenant may have with respect to caterpillar generator located on the premises and agrees that the lessor is the sole owner of all rights, title and interest and said Caterpillar Generator. 4.
Sample 1
Termination of Payment. The Termination Payment payable to Executive shall be equal to one hundred percent (100%) of the Executive's then current year's base salary, plus one hundred percent (100%) of the amount, if any of the prior year's bonus.
Sample 1
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Related to Termination of Payment

  • Termination of Payments Notwithstanding section 2.2, no payments shall be due to Purchaser afler Purchaser has received an aggregate amount under this Note, including payments made by the Company pursuant to section 2.3, equal to (i) the Principal Amount (as defined in the Investor Information Sheet above), multiplied by (ii) the Maximum Payment Multiple. We refer to the result of this multiplication as the “Maximum Payment Amount.”

  • Termination of Payment Fund Any portion of the Payment Fund that remains undistributed to the holders of Certificates and Book Entry Shares for twelve months after the Effective Time shall be delivered by the Paying Agent to the Parent, upon demand, and any holder of a Certificate or Book Entry Shares who has not theretofore complied with this Article II shall thereafter look only to the Parent for payment of the Merger Consideration, but shall have no greater rights against the Parent than may be accorded to general unsecured creditors of the Parent under applicable law.

  • 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.

  • Notice of Payment of Termination Payment As soon as practicable after a liquidation, Notice shall be given by the Non-Defaulting Party to the Defaulting Party of the amount of the Termination Payment and whether the Termination Payment is due to the Non-Defaulting Party. The Notice shall include a written statement explaining in reasonable detail the calculation of such amount and the sources for such calculation. The Termination Payment shall be made to the Non-Defaulting Party, as applicable, within ten (10) Business Days after such Notice is effective.

  • Reduction of Payments Any reduction under Subsection (b) above shall be applied first to Payments that constitute “deferred compensation” (within the meaning of Section 409A of the Code and the regulations thereunder). If there is more than one such Payment, then such reduction shall be applied on a pro rata basis to all such Payments. Subject to the foregoing rules, the Employee may elect, in the Employee’s sole discretion, which and how much of the Payments shall be eliminated or reduced (as long as after such election the aggregate present value of the Payments equals the Reduced Amount) and shall advise the Company in writing of the Employee’s election within 10 business days of receipt of notice. If no such election is made by the Employee within such 10-day period, then the Company may elect which and how much of the Payments shall be eliminated or reduced (as long as after such election the aggregate present value of the Payments equals the Reduced Amount) and shall notify the Employee promptly of such election. For purposes of this Section 3, a present value shall be determined in accordance with Section 280G(d)(4) of the Code. All determinations made by the Accounting Firm under this Section 3 shall be binding upon the Company and the Employee and shall be made within 10 business days of the date when a Payment becomes payable or transferable. As promptly as practicable following such determination and the elections hereunder, the Company shall pay or transfer to or for the benefit of the Employee such amounts as are then due to the Employee and shall promptly pay or transfer to or for the benefit of the Employee in the future such amounts as become due to the Employee.

  • 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.

  • Proration of Payments If any Lender shall obtain any payment or other recovery (whether voluntary, involuntary, by application of offset or otherwise, on account of (a) principal of or interest on any Loan, but excluding (i) any payment pursuant to Section 8.7 or 15.6 and (ii) payments of interest on any Affected Loan) or (b) its participation in any Letter of Credit) in excess of its applicable Pro Rata Share of payments and other recoveries obtained by all Lenders on account of principal of and interest on the Loans (or such participation) then held by them, then such Lender shall purchase from the other Lenders such participations in the Loans (or sub-participations in Letters of Credit) held by them as shall be necessary to cause such purchasing Lender to share the excess payment or other recovery ratably with each of them; provided that if all or any portion of the excess payment or other recovery is thereafter recovered from such purchasing Lender, the purchase shall be rescinded and the purchase price restored to the extent of such recovery.

  • Application of Payment The monthly housing assistance payment shall be credited against the monthly rent to owner for the contract unit.

  • 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.

  • Calculation of Payments The State shall use the fee schedule set forth in Attachment E to the contract (Fee Schedule) in determining the value of the work performed up to the time of termination. In the case of partially completed engineering services, eligible costs will be calculated as set forth in Attachment E, Fee Schedule. The sum of the provisional overhead percentage rate for payroll additives and for general and administrative overhead costs during the years in which work was performed shall be used to calculate partial payments. Any portion of the fixed fee not previously paid in the partial payments shall not be included in the final payment.

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