MIP Payment definition

MIP Payment means with respect to a Mortgage Loan, all mortgage insurance premiums payable to either HUD or a private mortgage insurer, as set forth in the related Asset File.

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MIP Payment means payments of Participation Bonuses as defined in, and pursuant to, the Management Incentive Program (together with any employment related Taxes, including payroll taxes, social security contributions, unemployment insurance and employment training tax, which are required to be paid by the Company or the Surviving Company in connection with such amounts).

MIP Payment means an annual incentive payment earned under the Management Incentive Plan.

Examples of MIP Payment in a sentence

Subject to your exercising your Stock Options on the terms set forth below, Chemtura will pay you the Target MIP Payment (less applicable withholding taxes) before the end of 2016.
You acknowledge and agree that, if you do not exercise your Stock Options prior to such date, Chemtura will have no obligation to provide you with the Target MIP Payment.
For the avoidance of doubt, in no event shall the Purchaser or any Group Company have any Liability under this Section 6.9(d) for any MIP Payment or to pay any funds or take any action unless (A) sufficient funds are provided in advance thereof to the Purchaser or the Group Companies with respect thereto; and (B) Globeleq Holdings is in compliance with its obligations under this Section 6.9(d).
If the amount of the award that you would have earned under the 2016 MIP, based on actual performance for the full 2016 calendar year, exceeds the Target MIP Payment, Chemtura will pay you the excess amount (less applicable withholding taxes) on the regular payment date in March 2017 (the “MIP Payment Date”).
Therefore, you acknowledge, agree, and accept that it is possible that no MIP Payment for fiscal year ending March 31, 2025 will be made to you under this Agreement.
If, prior to the MIP Payment Date, your employment with Chemtura terminates due to your resignation or termination by Chemtura for “Cause” (as defined in the Chemtura Corporation 2010 Long-Term Incentive Plan), you will repay to Chemtura the entire amount of the Target MIP Payment (calculated on a pre-tax basis) promptly following such termination.
If the Target MIP Payment exceeds the amount of the award that you would have earned under the 2016 MIP, based on actual performance for the full 2016 calendar year, you will repay to Chemtura the excess amount (calculated on a pre-tax basis) promptly following the MIP Payment Date.
Notwithstanding the foregoing to the contrary, if Employee voluntarily terminates her employment with the Company on or prior to April 1, 2012, then upon such termination Employee shall pay to Company an amount equal to the pro-rated amount of the First MIP Payment based on a 10 month period and the time remaining from the date of voluntary termination to April 1, 2012.
All Indebtedness of the Company and the Company Subsidiaries, including all Indebtedness associated with the MIP Payment and any MIP-Related Taxes, except for the European Indebtedness and that Indebtedness set forth in Section 3.2.1(c) of the Company Disclosure Schedule, and Liens securing such Indebtedness, shall be prepaid, extinguished and released at or prior to the Effective Time.
The 2023 MIP Payment will be payable in full with the first installment of the salary-based severance.

More Definitions of MIP Payment

MIP Payment means the amount to discharge all severance, termination, retention, “golden parachute,” transaction bonuses, LTIP payments, all employee national insurance contributions or other similar payments or obligations which are payable to any employee or consultant of the Target Group as a result of the consummation of the Transaction (together with all associated Taxes payable by the Target Group in respect of the same);

MIP Payment means, with respect to a HECM Loan, all mortgage insurance premiums payable to either HUD or a private mortgage insurer, as set forth in the related Mortgage File.

MIP Payment means a payment under the Management Incentive Plan, whether in connection with the Closing or otherwise.