Units Payable Clause Samples
The 'Units Payable' clause defines how and when payment is to be made for specific units of goods or services delivered under a contract. Typically, this clause outlines the method for calculating the amount due based on the number of units provided, such as per item, per hour, or per milestone achieved. It may also specify invoicing procedures and payment timelines. The core function of this clause is to ensure both parties have a clear understanding of payment obligations, reducing the risk of disputes over compensation for delivered units.
Units Payable. The number of Units payable is equal to the result of multiplying the total number of Performance Units set forth in Section 1 by the Performance Unit Payout Percentage. The number of Units payable will be rounded down to the nearest Unit. No fractional Units will be issued pursuant to this Agreement. In its sole discretion, the Committee may make a payment to you assuming a Performance Percentage of up to 200% of the Performance Units instead of the Performance Unit Payout Percentage as determined pursuant to this Section 3(b).
Units Payable. The number of Units payable is equal to the result of multiplying Performance Units by the “Performance Percentage” set forth below with respect to Achieved DCF/Unit set forth below: The percentages above shall be interpolated between points up to a maximum of 200%; the number so derived shall be rounded to the nearest whole percentage, but not to a percentage in excess of 200%. In its sole discretion, the Committee may make a payment to you assuming a Performance Percentage of up to 200% of the Performance Units instead of the Performance Percentage as determined pursuant to this Section 3(b).
Units Payable. The number of PSUs payable is the shares awarded multiplied by the TSR Percentage payable. For performance levels falling between the values as shown above, the Percentages will be determined by interpolation. Payment will be made in stock.