Restoration Payment if Elective Early Termination Occurs Sample Clauses

Restoration Payment if Elective Early Termination Occurs. In the event that Tenant does select the Elective Early Termination option pursuant to the terms of Section 7 above and the Lease Agreement terminates on the Elective Early Termination Date, the Restoration Payment shall be the lesser of: (i) the Actual Restoration Costs (defined below), or (ii) $250,000.00 (as applicable, the “Elective Termination Restoration Payment”), which amount shall be due and payable in full to Landlord thirty (30) days prior to the Elective Early Termination Date. In order to determine the “Actual Restoration Costs” for the foregoing Sections, Landlord shall, after determining, in its sole discretion, the scope of the Restoration of the Leased Premises that Landlord will undertake, obtain three (3) fixed price bids for the Restoration from general contractors that are licensed, bonded, and have at least 10-years experience constructing and/or restoring industrial buildings, selected by Landlord in its reasonable discretion after consulting with Tenant regarding Landlord's proposed contractors. The “Actual Restoration Costs” for the purposes hereof shall be the amount of the fixed price bid of the general contractor selected by Landlord to complete the Restoration of the Leased Premises; provided, however, if Landlord selects the general contractor with the highest fixed price bid, the Actual Restoration Costs shall be deemed limited to the amount of the middle fixed price bid. Notwithstanding the foregoing, the Actual Restorations Costs are subject to increase based on costs and expenses related to any change orders and unexpected costs and expenses, including, without limitation, any permit or code requirements or latent defects or conditions that were not factored into the original fixed price bid (as applicable, an “Actual Restoration Cost Increase”). Any additional Actual Restoration Costs resulting from an Actual Restoration Cost Increase following Tenant's payment of the Restoration Payment shall be made by Tenant to Landlord within fifteen (15) days of written notice of the Actual Restoration Cost Increase from Landlord. The obligation to reimburse Landlord for one or more Actual Restoration Cost Increases shall specifically survive the expiration or termination of the Lease Agreement, but shall remain subject to the caps in Sections 9.2.1 and 9.2.2 above. Notwithstanding the foregoing, Tenant shall have no obligation to pay for the installation of any new structures or systems or the upgrade of any existing structures or s...
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Related to Restoration Payment if Elective Early Termination Occurs

  • Early Termination Benefit If Early Termination occurs, the Bank shall distribute to the Executive the benefit described in this Section 2.2 in lieu of any other benefit under this Article.

  • Termination Payment The final payment delivered to the Certificateholders on the Termination Date pursuant to the procedures set forth in Section 9.01(b).

  • Automatic Early Termination The "Automatic Early Termination" provision of Section 6(a) will not apply to Party A or Party B.

  • Termination for Non-Payment In the event that full payment of any or all fees due to Escrow Associates under this Agreement have not been received by Escrow Associates within thirty (30) days of the date payment is due, Escrow Associates will notify all parties hereto of the delinquent fees. If the delinquent fees are not received within thirty (30) days of the delinquency notification, Escrow Associates shall have the right to terminate this Agreement and destroy the Deposit Materials.

  • Lump Sum Severance Payment Payment of a lump sum amount equal to twelve (12) months of Executive’s then-current Base Salary plus the Pro Rated Bonus, less all customary and required taxes and employment-related deductions, paid on the first payroll date following the date on which the Release required by Paragraph 4(g) becomes effective and non-revocable, but not after seventy (70) days following the effective date of termination from employment.

  • Payment Through Termination Upon termination of Employee's employment for any reason provided above, Employee shall be entitled to receive all compensation earned and all benefits and reimbursements (including payments for accrued vacation and sick leave, in each case in accordance with applicable policies of the Company) due through the effective date of termination. Additional compensation subsequent to termination, if any, will be due and payable to Employee only to the extent and in the manner expressly provided above in this Section 6. With respect to incentive bonus compensation, Employee shall be entitled to receive any bonus declared but not paid prior to termination. In addition, in the event of a termination by the Company under Section 6(b) or 6(d), Employee shall be entitled to receive incentive bonus compensation through the end of the Company's fiscal year in which termination occurs, calculated as if Employee had remained employed by the Company through the end of such fiscal year, and paid in such amounts, at such times, and in such forms as are determined pursuant to Section 3(b) above and Exhibit A attached hereto. Except as specified in the preceding two sentences, Employee shall not be entitled to receive any incentive bonus compensation after the effective date of termination of his employment. All other rights and obligations of USFloral, the Company, and Employee under this Agreement shall cease as of the effective date of termination, except that Employee's obligations under Sections 7, 8, 9 and 10 below shall survive such termination in accordance with their terms.

  • Termination Giving Rise to a Termination Payment If there is a Covered Termination by the Executive for Good Reason, or by the Company other than by reason of (i) death, (ii) disability pursuant to Section 11, or (iii) Cause, then the Executive shall be entitled to receive, and the Company shall promptly pay, Accrued Benefits and, in lieu of further base salary for periods following the Termination Date, as liquidated damages and additional severance pay and in consideration of the covenant of the Executive set forth in Section 13(a), the Termination Payment pursuant to Section 8(a).

  • Change in Control Benefit If a Change in Control occurs followed within twenty-four (24) months by Separation from Service prior to Normal Retirement Age, the Bank shall distribute to the Executive the benefit described in this Section 2.4 in lieu of any other benefit under this Article.

  • Payment upon Early Termination (a) Within three (3) calendar days after an Early Termination Effective Date, the Corporate Taxpayer shall pay to each TRA Party an amount equal to the Early Termination Payment in respect of such TRA Party. Such payment shall be made by wire transfer of immediately available funds to a bank account or accounts designated by such TRA Party or as otherwise agreed by the Corporate Taxpayer and such TRA Party or, in the absence of such designation or agreement, by check mailed to the last mailing address provided by such TRA Party to the Corporate Taxpayer.

  • Cash Severance Payment Provided that Executive complies with Section 5 below, Executive shall receive a lump sum cash payment in an amount equal to fifteen (15) months of Executive’s the effective base salary (less applicable withholding), paid within ten (10) business days of the effective date of the Termination Upon a Change of Control.

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