Payment and Release. The right to payment of any Retention Benefits or Office Closure Severance Benefits (each, a “Benefit”) will be contingent on the timely execution and delivery of a waiver and release in a form acceptable to and provided by the Company (the “Release”) and your non-revocation of the Release. The lump sum cash portion of any Benefit will be payable to you within 14 days following the Release becoming irrevocable, subject to your execution and delivery of the Release by the 50th day following the date of your termination of employment or the Retention Date, as applicable. If you fail to timely execute the required Release as prescribed above or you revoke the Release during any applicable revocation period, you will not be eligible to receive payment of any portion of your Benefit and it will be forfeited in full. COBRA Retention payments will be payable as set forth under Section 1(b) above; provided that no COBRA Retention payments will be made prior to delivery of the Release and expiration of the revocation period in relation thereto. In the event that payments are due under 1(b) prior to delivery of the Release and expiration of the revocation period, they will be provided as reimbursements to you on the first payroll date that occurs after your delivery of the Release and expiration of the revocation period in relation thereto.
Payment and Release. If you give any notice to us pursuant to Clause 4.2 (Disposal of Allotted Securities) of this Schedule, you shall pay to us at the time of giving such notice or otherwise on demand all amounts owing to us in connection with the relevant Application (including all fees, charges and expenses specified by any Relevant Person). We are not obliged to release to release to you the certificates relating to the Allotted Securities, or to procure the Allotted Securities to be credited to your account, unless and until all amounts owing to us have been received in full to our satisfaction.
Payment and Release. The Holder agrees:
Payment and Release. In the event an employee does not receive notification of school closure and reports for work, he or she will receive two (2) hours' pay (may be required to work the two
Payment and Release. Upon satisfactory completion of the Work, the City will provide Consultant a written statement accepting all deliverables. Acceptance of the final payment shall constitute a release in full of all claims against the City arising from or by reason of the Work, with the exception of any pending claims for additional compensation that have been documented and filed as required by this Agreement.
Payment and Release. Payment of the First Payment to the account set forth in Sections 2.1, 2.2 shall fully satisfy all initial payment obligations under this Agreement to Assignor. Upon receipt of the executed copy of this Agreement as well as the original Executed Assignment(s), Escrow Agent shall immediately give Parties a written notice to acknowledge receipt of duly Executed Assignment(s) as provided in Exhibit B, and present for Assignee’s payment. At the Closing and upon receipt of the payment set forth in Section 2.1 under this Agreement, Assignor will provide Escrow Agent written notice of permission, with a copy to Assignee’s Representatives, to release immediately the Executed Assignments to Assignee. Upon the receipt of such permission from Assignor, the Escrow Agent will then transfer the Executed Assignment(s) in Escrow to Assignee, who may then and only then record the Executed Assignments with the applicable patent offices.
Payment and Release. 4 4.8 Closing of Stock Redemption.....................................4 4.9 Stockholders' Agreement.........................................5 4.10 Employment and Non-Competition Agreements.......................5 4.11
Payment and Release. The Company shall have received an executed general ------------------- release in the form attached hereto as Exhibit D from Xxxxxx X. Xxxxx in --------- consideration of the payment of $6,213,173 concurrently with the closing of the purchase and sale of the Preferred Shares under this Agreement and the funding pursuant to the Bank Financing Agreement.
Payment and Release. The Company shall have received pay-off letters, in customary form, including, to the extent applicable, forms of Uniform Commercial Code termination statements (the "UCC Termination Statements"), reasonably acceptable to SCM, with respect to the C.S.K.-Ele Note, the FINOVA Note and the Fuji Debt stating that upon receipt of all applicable funds, such entities will release the Company from all obligations thereunder and release all liens thereunder, and to the extent applicable, immediately execute the UCC Termination Statements upon receipt of such funds.
Payment and Release. On the closing date of the Merger, if it occurs:
