Examples of Quarterly Payments in a sentence
L5.1 This Agreement shall commence on the date of delivery and shall continue until the earlier of (i) termination at our option upon the occurrence of an event of default, or (ii) the occurrence of an event of a non-appropriation under Section L10, or (iii) the expiration of the Term and your payment of all Quarterly Payments and other sums due and your fulfillment of all other obligations under this Agreement.
Any Capital Expense in an amount less than $10,000 required to be capitalized on the books of the Center in accordance with generally accepted accounting principles will be treated as an operating expense when calculating Quarterly Payments by Manager as defined below in Section 4.4.
The Annual Reconciliation Amount is a payment by each Partner to the Host Authority (if positive) or to each Partner from the Host Authority (if negative) in respect of reconciliation differences between the amounts which have accrued due during the relevant Contract Year and payments actually made through each Partner’s Monthly Payments and Quarterly Payments in respect of the relevant Contract Year.
If the Option is exercised and the Share Purchase is consummated, the Option Payment will not be applied toward the initial Quarterly Payments required under Section 2.2(a).
Operator shall not be entitled to receive a refund of all or any portion of the Membership Fees paid by Operator except where termination of this Agreement is due to the revocation by the relevant authorities of ECRC's certification as a response organization with 10,000 tonne rated capability in which case Registration Fees shall be refunded on a pro-rated basis and, if applicable, Advance Quarterly Payments exceeding Bulk Oil Cargo Fees owing shall be refunded in full.