Close-Out Payment definition

Close-Out Payment means the amount due upon termination, acceleration, liquidation, and close out of this Agreement pursuant to Section 13.2.3 hereof, to be calculated by the Terminating Party in its sole, reasonable discretion as (i) the difference between (a) the price of remaining Product to be sold under the relevant Transaction and (b) the prevailing market price for such Product or its commercially reasonable equivalent as published in an industry publication or as otherwise determined by the Terminating Party in its sole, reasonable discretion, plus or minus (as applicable) any location differential, determined by the Terminating Party in its sole, reasonable discretion, multiplied by (ii) the remaining quantities of the Product to be delivered under the relevant Transaction.
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Close-Out Payment means an amount in cash equal to the Remaining Amount.
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Close-Out Payment means the payment calculated under Clause 8.5
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Examples of Close-Out Payment in a sentence

  • The Close-Out Payment includes Travelers estimate of all future Obligations under the Insurance Policies and Insurance Agreements, and all Obligations which are due and owing on or prior to the effective date of this Agreement.

  • Delivery of such notices, and of instruments, certifications, documents and/or other deliveries (other than the Close-Out Payment) (collectively "Notices") contemplated by this Agreement shall become effective, and/or delivery of the same shall be deemed complete, upon receipt by the intended recipient thereof.

  • At the Closing, Insured shall pay to Travelers the sum of $1,879,801 (U.S.) (the "Close-Out Payment") by certified check or wire transfer payable to The Travelers Indemnity Company.

Related to Close-Out Payment

  • Close Out means the termination, cancellation, liquidation, acceleration, or other similar action with respect to all transactions under one or more Contracts.

  • Close-out Report means a report from the Grantee allowing the Grantor to determine whether all applicable administrative actions and required work have been completed, and therefore closeout actions can commence.