Reimbursement Amount definition
Examples of Reimbursement Amount in a sentence
The Company shall pay the Reimbursement Amount to the Executive, in immediately available funds, no later than 10 days following the date on which the Executive delivers to the Company a written notice setting forth the amount and circumstances of the relevant Guaranty Payment, accompanied by reasonable supporting documentation (such date of payment, the “Reimbursement Date”).
The Reimbursement Amount shall bear interest from the date the Executive made the relevant Guaranty Payment until the Reimbursement Date at a simple rate equal to 8.75% per annum (or, if lower, the maximum rate permitted by applicable law), calculated on the basis of a 365-day year and the actual number of days elapsed.
The Executive shall not be entitled to recover under this Section 7.11 any amount in respect of which he has previously received reimbursement, contribution, indemnification or other recovery from the Company or any other person, and any such other recovery shall reduce the Reimbursement Amount on a dollar-for-dollar basis.