Threshold Payment Clause Samples
A Threshold Payment clause sets a minimum amount that must be reached before a payment obligation is triggered under a contract. For example, if the threshold is set at $1,000, payments are only made once the cumulative amount owed exceeds this figure, and smaller amounts may be carried forward until the threshold is met. This clause helps reduce administrative burden by avoiding frequent processing of minor payments and ensures efficiency in financial transactions between parties.
Threshold Payment. If NRTC has not paid HCG at least $100 million in aggregate Committed Member Payments on or before December 11, 1992, the HCG Agreement may terminate.
Threshold Payment. Upon Your first Partial Surrender prior to the Lifetime Income Eligibility Date, Your Threshold Payment is equal to [4%] multiplied by Your then current Payment Base. Your Threshold Payment will be set on Your Rider Effective Date and may thereafter reset based upon any or all of the following events, provided that such event does not cause the Payment Base to exceed [$5,000,000]:
Threshold Payment. Prior to the Lifetime Income Eligibility Date, an amount that may be taken by Partial Surrender(s) during any Contract Year.
Threshold Payment. Mepco-Michigan and its affiliates shall have paid an aggregate of Two Million Seven Hundred Thousand Dollars ($2,700,000) in satisfaction of the obligations described in Sections 5(a) and 5(b) above.
Threshold Payment. Your Threshold Payment is equal to [4%] multiplied by Your then current Payment Base. Your Threshold Payment will cease on the Lifetime Income Eligibility Date whereupon Lifetime Benefit Payments will be available to You. Your Threshold Payment will be set on the Your Rider Effective Date and may thereafter reset based upon any or all of the following events:
Threshold Payment. A Partial Surrender equal to [4%] multiplied by the Payment Base taken during any Contract Year prior to the Lifetime Income Eligibility Date.
Threshold Payment. The Company must make a prepayment to the Holder when the aggregate amount(s) of one or more financing (“Financing”) received by the Company is in excess of One Million Dollars ($1,000,000) (the “Threshold Amount”). The Company agrees to pay fifty percent (50%) of any proceeds raised by the Company over the Threshold Amount toward the prepayment of the Preferred Stock and dividends thereon until the Preferred Stock is redeemed in full. The prepayments shall be made to the Holder within one (1) business day of the Company’s receipt of the Financing, and the failure by the Company to strictly adhere to the foregoing shall constitute an Event of Default. The Threshold Amount shall also pertain to any assets sold, transferred or disposed of by the Company and any cash balances in the Company’s bank or brokerage accounts at the end of each month.