Examples of Termination Payment in a sentence
Buyer shall calculate the Termination Payment by aggregating all Settlement Amounts into a single liquidated amount by summing the calculated Settlement Amount with respect to a Designated System across all Designated Systems.
For avoidance of doubt, the Non-Defaulting Party shall not owe any amount as Termination Payment to the Defaulting Party and payment of the Termination Payment shall only be from the Defaulting Party to the Non-Defaulting Party.
Termination Payment = $949,002.62 Step 3: Termination Payment is due to Buyer by Seller The Termination Payment, if any, is due to Buyer as the Non-Defaulting Party within twenty (20) Business Days following notice by Buyer to Seller pursuant to Section 10.3. Unless Seller pays the Termination Payment in full during this twenty (20) Business Day period, Seller’s Performance Assurance held by Buyer shall be applied to the Termination Payment, with any excess amounts returned to Seller.
The Non-Defaulting Party will calculate a Settlement Amount with respect to each Designated System and a Termination Payment with respect to this Agreement pursuant to Section 10.4 as of the Early Termination Date, and provide such calculation to the Defaulting Party by the Early Termination Date.
No Settlement Amount or Termination Payment shall be due from or to either Party as a result of any such termination.