Cover Payment Sample Clauses

Cover Payment. If a Participant defaults in making a contribution or cash call required by an adopted Program and Budget, the non-defaulting Participant may, but shall not be obligated to, advance some portion or all of the amount in default on behalf of the defaulting Participant (a “Cover Payment”). Each and every Cover Payment shall constitute a demand loan bearing interest from the date of the advance at the rate provided in Section 10.3. If more than one Cover Payment is made, the Cover Payments shall be aggregated and the rights and remedies described herein pertaining to an individual Cover Payment shall apply to the aggregated Cover Payments. The failure to repay such loan upon demand shall be a default.
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Cover Payment. 10.5 REMEDIES................................................. 10.6 AUDITS...................................................
Sample 1
Cover Payment. 30 10.5 Remedies . . . . . . . . . . 30 10.6 Audits . . . . . . . . . . . . 33
Sample 1
Cover Payment. If a Participant defaults in making a contribution or cash call required by an adopted Program and Budget, the non-defaulting Participants may, but shall not be obligated to, advance some portion or all of the amount in default on behalf of the defaulting Participant (a “Cover Payment”). If more than one Participant elects to fund the deficiency, the electing Participants may do so in proportion to their respective Participating Interests. Each and every Cover Payment shall constitute a demand loan bearing interest from the date of the advance at the rate provided in Section
Sample 1
Cover Payment. If a Participant defaults in making a contribution or cash call in respect of an Additional Contribution required by an adopted Program and Budget in accordance with Section 9.5, the non-defaulting Participant may, but shall not be obligated to, advance some portion or all of the amount in default on behalf of the defaulting Participant (a “Cover Payment”). Each and every Cover Payment shall constitute a demand loan bearing interest from the date of the advance at the rate provided in Section 10.3. If more than one Cover Payment is made, the Cover Payments shall be aggregated and the rights and remedies described herein pertaining to an individual Cover Payment shall apply to the aggregated Cover Payments. The failure to repay such loan upon demand shall be a default. TABLE OF CONTENTS (continued) Page
Sample 1
Cover Payment. 38. If a Party defaults in making a cash call to be made in accordance with Section 34, the non-defaulting Party may, but will not be obligated to, advance some portion or all of the amount in default on behalf of the defaulting Party (a “Cover Payment”). Each and every Cover Payment will constitute a demand loan from the non-defaulting Party to the defaulting Party bearing interest at the CIBC Prime Rate plus 5% from the date of the advance. If more than one Cover Payment is made, the Cover Payments will be aggregated and the rights and remedies described in the Joint Venture Documents pertaining to an individual Cover Payment will apply to the aggregated Cover Payments. The failure to repay such loan upon demand will be a default under such loan.
Sample 1
Cover Payment. If a JV Participant defaults in making a contribution or cash call required by an adopted Program and Budget, the non-defaulting JV Participant may, but shall not be obligated to, advance some portion or all of the amount in default on behalf of the defaulting JV Participant (a “Cover Payment”). Each and every Cover Payment shall constitute a demand loan bearing interest from the date of the advance at the rate provided in Section 10.3. If more than one Cover Payment is made, the Cover Payments shall be aggregated and the rights and remedies described herein pertaining to an individual Cover Payment shall apply to the aggregated Cover Payments. The failure to repay such loan upon demand shall be a default; provided, however, if TCM has made a Cover Payment on behalf of USE, TCM may, at its option, treat the Cover Payment as a loan to USE, with interest at a rate agreed upon by the Parties, to be paid out of production from the Business.
Sample 1
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Cover Payment. If a Member defaults in making a contribution or cash call required by (a) a Program and Budget to which the provisions of Section 6.6.1(a) apply, or (b) an adopted Program and Budget to which that Member has agreed to contribute, the non-defaulting Member may, but shall not be obligated to, advance some portion or all of the amount in default on behalf of the defaulting Member (a “Cover Payment”). Each and every Cover Payment shall constitute a demand loan bearing interest from the date of the advance at the rate provided in Section 7.3. If more than one Cover Payment is made, the Cover Payments shall be aggregated and the rights and remedies pertaining to an individual Cover Payment shall apply to the aggregated Cover Payments. The failure to repay such loan upon demand shall be a default.
Sample 1
Cover Payment. If a Member defaults in making a contribution or capital call required by an adopted Program and Budget, the non-defaulting Members may, but shall not be obligated to, advance to the Company some portion or the entire amount in default on behalf of the defaulting Member (a “Cover Payment”). Each and every Cover Payment by a non-defaulting Member shall constitute a demand loan from such non-defaulting Member to the defaulting Member bearing interest from the date of the advance at the rate provided in Section . If more than one Cover Payment is made, the Cover Payments shall be aggregated and the rights and remedies described herein pertaining to an individual Cover Payment shall apply to the aggregated Cover Payments. The failure to repay such loan upon demand shall be a default. The defaulting Member shall remain liable to the Company as provided in Section 13.3 for any deficiency in a capital call that is not covered by a Cover Payment.
Sample 1

Related to Cover Payment

  • Upfront Payment Upon the execution of this Agreement, the Lessee shall pay to the Lessor the following: (check one) ☐ - First Month’s Rent of: _ Dollars ($ _) ☐ - Last Month’s Rent of: ___ _ Dollars ($ _) ☐ - Security Deposit of: _ _ Dollars ($ _)

  • Premium Payment The Bank shall pay any premiums due on the Policy.

  • Retention Payment 6.4.1 There are two situations in which an employee may be eligible to receive a retention payment. These are total facility closures and relocation of work units.

  • Interim Payment At the end of each of the periods indicated in Annex I the Contractor shall submit to the Agency a formal request for payment accompanied by those of the following documents which are provided for in the Special Conditions: ⮚ an interim technical report in accordance with the instructions laid down in Annex I; ⮚ the relevant invoices indicating the reference number of the Contract and of the order or specific contract to which they refer;

  • Earn-Out Payment (a) The Parties intend for Seller and Buyer to operate and manage the Business after the Closing Date pursuant to the Operating Plan in substantially the form attached hereto as Exhibit J. In the event of any conflict between the Operating Plan and this Agreement, the terms of this Agreement shall control. Subject to the terms of this Section 2.6, Seller will be entitled to receive, as an earn out payment, an amount not to exceed Four Million Dollars ($4,000,000) in ***Confidential Treatment has been requested for portions of this exhibit. The copy filed herewith omits the information subject to the confidentiality request. Omissions are designated as [***]. A complete version of this exhibit has been filed separately with the Securities and Exchange Commission. cash (the “Earn Out Cash”) and 76,300 shares of in InPhonic Common Stock having a value of Two Million Dollars ($2,000,000) as of the Effective Date, (which number of shares was obtained by dividing (a) $2,000,000 by (b) the average closing market price for InPhonic’s Common Stock on the NASDAQ Stock Market (excluding after-hours trading) for the ten (10) day trading period preceding the Effective Date (the “Earn Out Stock”), (together, the Earn Out Cash and Earn Out Stock, the “Earn Out Payment”). In accordance with Section 2.6(b), the Earn Out Payment will be received by Seller in four quarterly installments over the course of the twelve month period beginning on the Effective Date and ending on December 31, 2005 (the “Measuring Period”) based upon the number of Activations (as defined herein below) achieved by Seller during the Measuring Period, provided that upon Seller earning the Earn Out Payment or any portion thereof, the portion of the Earn Out Payment shall be deemed “Held In Trust” for the Benefit of A1 Wireless USA, Inc.” while in the custody of the Escrow Agent, provided that there are not any indemnity claims by Buyer or the earned portion of the Earn Out Payment exceed the Indemnification Cap. For purposes of determining whether Seller is entitled to any Earn Out Payment during any Quarterly Measuring Period, on or before the tenth day following the end of each Quarterly Measuring Period, Buyer shall cause to be prepared and delivered to Seller a quarterly statement setting forth the actual number of Activations achieved (i) during the respective Quarterly Measuring Period and (ii) for each month of the Quarterly Measuring Period (each, a “Quarterly Activation Statement”). Each Quarterly Activation Statement will also set forth the amount, if any, of the Earn Out Payment due to Seller for such Quarterly Measuring Period, and the basis for Buyer’s calculation. If, within ten (10) days following receipt of any Quarterly Activation Statement, Seller has not given Buyer written notice of its objection to such Quarterly Activation Statement (which objection notice must contain a reasonable statement of the basis of Seller’s objection) (the “Notice of Objection”), then such Quarterly Activation Statement shall be deemed accepted by Seller and will be used to determine whether Seller is entitled to any Earn Out Payment for that Quarterly Measuring Period. If Seller provides the Notice of Objection to Buyer, Seller and Buyer will have fifteen (15) days to resolve the dispute in good faith among themselves. If Seller and Buyer have not resolved their dispute within such fifteen (15) day period, then Seller and Buyer shall resolve their dispute in accordance with the Arbitration Procedures set forth in Section 2.6(f) below. During the 15-day period Seller shall have the right, and Buyer shall give access during this period, to inspect Buyer’s books and records used in connection with Buyer’s determination of the amounts due to Seller set forth in the Quarterly Activiation Statement.

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