PAYMENT OF FUNDS BY THERMO ELECTRON Sample Clauses

PAYMENT OF FUNDS BY THERMO ELECTRON. If in any year Biomedical incurs a loss or generates tax credits or similar tax benefits (a "tax benefit item"), Thermo Electron shall pay to Biomedical a sum equal to the amount of benefit realized by Thermo Electron that is attributable to the Biomedical tax benefit item: payments due to Biomedical from Thermo Electron under this section shall be made upon the earlier of (1) the year in which Biomedical would have obtained a tax benefit from the tax benefit item if Biomedical had in all years filed a separate federal income tax return or (2) the year in which any applicable carry-forward period with respect to the tax benefit item expires; provided that payments under this section shall be made first by being taken into account in determining amounts payable to Biomedical under Section 3, and any remaining amount due to Biomedical shall be paid by Thermo Electron to Biomedical at the times set forth for payments by Biomedical under Section 3.
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PAYMENT OF FUNDS BY THERMO ELECTRON. If in any year Metrika incurs a loss or generates tax credits or similar tax benefits (a "tax benefit item"), Thermo Electron shall pay to Metrika a sum equal to the amount of benefit realized by Thermo Electron that is attributable to the Metrika tax benefit item; payments due to Metrika from Thermo Electron under this section shall be made upon the earlier of (1) the year in which Metrika would have obtained a tax benefit from the tax benefit item if Metrika had in all years filed a separate federal income tax return or (2) the year in which any applicable carry-forward period with respect to the tax benefit item expires; provided that payments under this section shall be made first by being taken into account in determining amounts payable to Metrika under Section 3, and any remaining amount due to Metrika shall be paid by Thermo Electron to Metrika at the times set forth for payments by Metrika under Section 3.
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PAYMENT OF FUNDS BY THERMO ELECTRON. If in any year the Companies incur a loss, Thermo Electron shall pay to ThermoLase a sum equal to the amount of benefit realized by Thermo Electron that is attributable to the tax loss incurred by ThermoLase. Payments due to ThermoLase from Thermo Electron under this section shall be made promptly following the realization and receipt of such tax benefits by Thermo Electron.
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PAYMENT OF FUNDS BY THERMO ELECTRON. If in any year Ecotek incurs a loss or generates tax credits or similar tax benefits (a "tax benefit item"), Thermo Electron shall pay to Ecotek a sum equal to the amount of benefit realized by Thermo Electron that is attributable to the Ecotek tax benefit item; payments due to Ecotek from Thermo Electron under this section shall be made upon the earlier of (1) the year in which Ecotek would have obtained a tax benefit from the tax benefit item if Ecotek had in all years filed a separate federal income tax return or (2) the year in which any applicable carry-forward period with respect to the tax benefit item expires; provided that payments under this section shall be made first by being taken into account in determining amounts payable to Ecotek under Section 3, and any remaining amount due to Ecotek shall be paid by Thermo Electron to Ecotek at the times set forth for payments by Ecotek under Section 3.
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PAYMENT OF FUNDS BY THERMO ELECTRON. If in any year ONIX incurs a loss or generates tax credits or similar tax benefits (a "tax benefit item"), Thermo Electron shall pay to ONIX a sum equal to the amount of benefit realized by Thermo Electron that is attributable to the ONIX tax benefit item; payments due to ONIX from Thermo Electron under this section shall be made upon the earlier of (1) the year in which ONIX would have obtained a tax benefit from the tax benefit item if ONIX had in all years filed a separate federal income tax return or (2) the year in which any applicable carry-forward period with respect to the tax benefit item expires; provided that payments under this section shall be made first by being taken into account in determining amounts payable to ONIX under Section 3, and any remaining amount due to ONIX shall be paid by Thermo Electron to ONIX at the times set forth for payments by ONIX under Section 3.
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Related to PAYMENT OF FUNDS BY THERMO ELECTRON

  • Authorization of Receipt of Funds by the Trustee Under the Security Documents Subject to the provisions of the Intercreditor Agreement, the Trustee is authorized to receive any funds for the benefit of the Holders distributed under the Security Documents, and to make further distributions of such funds to the Holders according to the provisions of this Indenture.

  • Advancement of Funds by the Seller No holder of a Mortgage Loan has advanced funds or induced, solicited or knowingly received any advance of funds from a party other than the owner of the related Mortgaged Property, directly or indirectly, for the payment of any amount required by such Mortgage Loan.

  • Authorization of Receipt of Funds by the Trustee Under the Collateral Documents Subject to the provisions of the Intercreditor Agreements, the Trustee is authorized to receive any funds for the benefit of the Holders distributed under the Collateral Documents, and to make further distributions of such funds to the Holders according to the provisions of this Indenture.

  • Non-Receipt of Funds by the Agent Unless the Borrower or a Lender, as the case may be, notifies the Agent prior to the date on which it is scheduled to make payment to the Agent of (i) in the case of a Lender, the proceeds of a Loan or (ii) in the case of the Borrower, a payment of principal, interest or fees to the Agent for the account of the Lenders, that it does not intend to make such payment, the Agent may assume that such payment has been made. The Agent may, but shall not be obligated to, make the amount of such payment available to the intended recipient in reliance upon such assumption. If such Lender or the Borrower, as the case may be, has not in fact made such payment to the Agent, the recipient of such payment shall, on demand by the Agent, repay to the Agent the amount so made available together with interest thereon in respect of each day during the period commencing on the date such amount was so made available by the Agent until the date the Agent recovers such amount at a rate per annum equal to (x) in the case of payment by a Lender, the Federal Funds Effective Rate for such day for the first three days and, thereafter, the interest rate applicable to the relevant Loan or (y) in the case of payment by the Borrower, the interest rate applicable to the relevant Loan.

  • Payment of Funds Subject to the terms and conditions hereof, at the Closing:

  • Non-Receipt of Funds by the Administrative Agent Unless the Borrower or a Lender, as the case may be, notifies the Administrative Agent prior to the date on which it is scheduled to make payment to the Administrative Agent of (i) in the case of a Lender, the proceeds of a Loan or (ii) in the case of the Borrower, a payment of principal, interest or fees to the Administrative Agent for the account of the Lenders, that it does not intend to make such payment, the Administrative Agent may assume that such payment has been made. The Administrative Agent may, but shall not be obligated to, make the amount of such payment available to the intended recipient in reliance upon such assumption. If such Lender or the Borrower, as the case may be, has not in fact made such payment to the Administrative Agent, the recipient of such payment shall, on demand by the Administrative Agent, repay to the Administrative Agent the amount so made available together with interest thereon in respect of each day during the period commencing on the date such amount was so made available by the Administrative Agent until the date the Administrative Agent recovers such amount at a rate per annum equal to (x) in the case of payment by a Lender, the Federal Funds Effective Rate for such day for the first three days and, thereafter, the interest rate applicable to the relevant Loan or (y) in the case of payment by the Borrower, the interest rate applicable to the relevant Loan.

  • Application of Funds Received It is anticipated that the Master Servicer will be collecting all payments with respect to the Mortgage Loans, any Serviced Companion Mortgage Loan and any B Note (other than payments with respect to REO Income). If, however, the Special Servicer should receive any payments with respect to any Mortgage Loan (other than REO Income) it shall, within one Business Day of receipt from the Mortgagor or otherwise of any amounts attributable to payments with respect to or the sale of any Mortgage Loan or any Specially Serviced Mortgage Loan, if any, (but not including REO Income, which shall be deposited in the applicable REO Account as provided in Section 9.14 hereof), either, (i) forward such payment (endorsed, if applicable, to the order of the Master Servicer), to the Master Servicer, or (ii) deposit such amounts, or cause such amounts to be deposited, in the Certificate Account. The Special Servicer shall notify the Master Servicer of each such amount received on or before the date required for the making of such deposit or transfer, as the case may be, indicating the Mortgage Loan or Specially Serviced Mortgage Loan to which the amount is to be applied and the type of payment made by or on behalf of the related Mortgagor.

  • Distribution of Funds Deliver (i) to Seller, or order, the cash portion of the Purchase Price, adjusted for prorations, charges and other credits and debits provided for herein; and (ii) to Buyer, or order, any excess funds delivered to Escrow Agent by Buyer. Such funds shall be delivered by wire transfer or cashier’s check in accordance with instructions for Seller and Buyer; if no instructions are given, Escrow Agent shall deliver such funds by Escrow Agent’s check via overnight courier (or as otherwise requested by the intended recipient) to the appropriate party at the address set forth for notice in this Agreement.

  • Advance of Funds by the Seller After origination, no advance of funds has been made by the Seller to the related Mortgagor other than in accordance with the Loan Documents, and, to the Seller’s knowledge, no funds have been received from any person other than the related Mortgagor or an affiliate for, or on account of, payments due on the Mortgage Loan (other than as contemplated by the Loan Documents, such as, by way of example and not in limitation of the foregoing, amounts paid by the tenant(s) into a Mortgagee-controlled lockbox if required or contemplated under the related lease or Loan Documents). Neither the Seller nor any affiliate thereof has any obligation to make any capital contribution to any Mortgagor under a Mortgage Loan, other than contributions made on or prior to the date hereof.

  • Money for Certificate Payments to Be Held in Trust All moneys deposited with any Paying Agent for the purpose of any payment on Certificates shall be deposited and held in trust for the benefit of the Certificateholders entitled to such payment, subject to the provisions of this Section. Moneys so deposited and held in trust shall constitute a separate trust fund for the benefit of the Certificateholders with respect to which such money was deposited. The Trustee may at any time, for the purpose of obtaining the satisfaction and discharge of this Agreement or for any other purpose, direct any Paying Agent to pay to the Trustee all sums held in trust by such Paying Agent, such sums to be held by the Trustee upon the same trusts as those upon which such sums were held by such Paying Agent; and, upon such payment by any Paying Agent to the Trustee, such Paying Agent shall be released from all further liability with respect to such money.

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