Common use of WHEN PAYABLE Clause in Contracts

WHEN PAYABLE. Indemnification under this Article 6 and Article 7 hereof shall be payable with respect to any claim concerning an Indemnifiable Loss or an Environmental Indemnifiable Loss upon the occurrence of the earliest of (a) any payment required to be made to any tax or other administrative authority with respect to any claim from such authority, (b) the resolution of such claim by mutual agreement between Seller and Buyer and/or the Company and/or CEVCO, as the case may be, (c) the issuance of a jugement executoire par provision provided however that if a final judgment subsequently reverses in whole or in part the jugement executoire par provision, the Indemnified Party shall promptly reimburse to the Indemnifying Party as and when cash is actually received by the Indemnified Party from any claimant an amount equal to the amount received by such Indemnified Party as a result of this final judgment up to the amount paid by the Indemnifying Party as a result of such claim, (d) the issuance of a final judgment, award, order or other ruling (which is not subject to appeal or with respect to which the time for appeal has elapsed) by a court or arbitral tribunal having jurisdiction over the parties and the subject matter of such claim or to which such claim was submitted for resolution by joint agreement between Seller and Buyer and/or the Company and/or CEVCO, as the case may be, or (e) the final settlement of such claim with a third party pursuant to mutual authorization by Seller and Buyer.