Covenant Payments definition

Covenant Payments means the payments and benefits under this Agreement that are made or provided to the Executive under Section 4 of this Agreement in exchange for the Executive's agreeing to the covenants in Subsections (b) through (e) (collectively, the "Protective Covenants"). The parties hereby stipulate that the value of the Covenant Payments is Four Hundred Thousand Dollars ($400,000).
Sample 1Sample 2
Covenant Payments means those contingent payments to be made by the City to the Owner pursuant to Section 3.2 of this Covenant Agreement in consideration of the Covenants and Owner’s timely and faithful performance thereunder.
Sample 1Sample 2Sample 3
Covenant Payments shall have the meaning set forth in Section 3.1.
Sample 1Sample 2Sample 3

Examples of Covenant Payments in a sentence

  • Additionally, the City may deduct any amount required to be repaid by Owner under this Section 3.2.6 from any future Covenant Payments otherwise payable to Owner under this Covenant Agreement.

  • The determination of the Covenant Payment(s) shall be determined and calculated on a Computation Quarter to Computation Quarter basis.

  • City shall have no liability to Affiliate for the distribution of Covenant Payments.

  • Should such condition precedent not be satisfied for each Computation Quarter, then City shall have no obligation under this Section 3.2 to make any Covenant Payments to Owner in such Computation Quarter.

  • Furthermore, Owner acknowledges that it is possible that the legislation described above, or some variant thereof, may be enacted and effective during one or more subsequent times during the Eligibility Period and may materially and negatively impact the amount of Sales Tax Revenues and, accordingly, Covenant Payments.

  • Owner acknowledges that it is possible that the legislature may enact similar legislation in the future which would cause a corresponding reduction of and/or delay in the payment of the Sales Tax Revenues and that such reduction will cause Owner a corresponding reduction and/or delay in the payment of the Covenant Payments due to Owner during such time as such legislation is in effect.


More Definitions of Covenant Payments

Covenant Payments means fifty percent (50%) of the Associate's base salary at his or her Termination Date payable for the duration of the Covenant Period or, if shorter, until the date of the Associate’s death .
Sample 1

Related to Covenant Payments

  • Installment Payments shall have the meaning set forth in Section 5(b)(ii).

  • Covenant Period means the period of time from the date of this Agreement to the date that is two years after the Date of Termination.

  • Service payments means payments to the private entity of a qualifying project pursuant to a service contract.

  • relevant payment means either a student loan or an amount intended for the maintenance of dependants referred to in paragraph 76(7) or both.

  • Covenant Testing Period means the period commencing on the last day of the fiscal month of Borrower most recently ended prior to the occurrence of a Fixed Charge Test Commencement Date for which month Borrowers have delivered to Agent monthly financial statements of Solutions and its Subsidiaries, and continuing until the Termination Date has occurred.

  • Exception Payments means payments to deposit accounts or brokerage accounts, payments to settle securities transactions (including, without limitation, stocks, bonds, securities, futures (forex), options, or an investment interest in any entity or property).

  • Severance Payments shall have the meaning set forth in Section 6.1 hereof.

  • Section 409A Payment Date means the earlier of (a) the date of Executive’s death or (b) the date that is six months after the date of termination of Executive’s employment with the Company.

  • Installment Payment Date means the date on which an installment payment of an assessment is payable.