ADJUSTING PAYMENT Clause Samples

The "Adjusting Payment" clause defines the process by which payments under a contract may be modified in response to certain events or changes in circumstances. Typically, this clause outlines the conditions that trigger a payment adjustment, such as changes in the scope of work, unforeseen costs, or variations in project requirements. For example, if additional work is required or if there are delays caused by factors outside the parties' control, the payment amount may be increased or decreased accordingly. The core function of this clause is to provide a fair and transparent mechanism for recalculating payments, thereby reducing disputes and ensuring that compensation remains aligned with the actual work performed or costs incurred.
ADJUSTING PAYMENT. Based upon computations to be prepared by the effected Group and approved by the Tax Administrators and the Tax CPA, an adjusting payment equal to the difference between amounts previously paid with respect to estimated taxes for the Consolidated Return shall be made by one Group to the other on or before October 15, 1999 based on the Consolidated Return as filed.
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ADJUSTING PAYMENT. If (i) the proceeds received by one Party under ▇▇▇▇ ▇▇▇’▇ Insurance Policies exceed that Party’s Shared Percentage of the total coverage available under those Insurance Policies (the “Overallocated Party”), (ii) those Insurance Policies are exhausted by the claims of one or both of the Parties, and (iii) the other Party has Liabilities which cannot be paid under those Insurance Policies due to the exhaustion of those policies or because an insurer becomes insolvent (the “Underallocated Party”), then the Overallocated Party shall make a payment to the Underallocated Party in an amount which will result in the Underallocated Party having received, after taking into account actual insurance proceeds received by the Underallocated Party under the ▇▇▇▇ ▇▇▇ Insurance Policies and any insolvent insurer distributions or guarantee fund payments and the adjusting payment (and previous adjusting payments made under this Section 2.5), proceeds equal to the lesser of (x) the Underallocated Party’s Shared Percentage of the total coverage or (y) the amount of Liabilities of the Underallocated Party. The Parties shall make adjusting payments under this Section 2.5 at any time and from time to time when there is an Underallocated Party. The requirement to make an adjusting payment under this Section shall terminate ten years after the Distribution Date, except with respect to any matters in dispute between the Parties at that time.
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ADJUSTING PAYMENT. Within ten Business Days of the agreement or determination of the Completion Statements in accordance with schedule 5: 3.4.1 if the Consideration less the Deposit exceeds the Completion Payment, the Purchaser shall pay the difference to the Seller; or 3.4.2 if the Consideration less the Deposit is less than the Completion Payment, the Seller shall repay the difference to the Purchaser.
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ADJUSTING PAYMENT. If the Contico Interest Purchase Price adjustment represents an increase of the Contico Interest Purchase Price above $22,500,000, then (i) Contico shall be entitled to receive the entire escrow account and all earnings thereon, and (ii) the Buyer shall pay the amount of such increase by wire transfer of immediately available funds to such account(s) as Contico shall direct. If the Contico Interest Purchase Price adjustment results in the Contico Interest Purchase Price decreasing by the Maximum Decrease, then the Buyer shall be entitled to receive the entire escrow account and all earnings thereon. If the Contico Interest Purchase Price adjustment results in the Contico Interest Purchase Price decreasing by less than the Maximum Decrease, then (1) the Buyer shall be entitled to receive from the escrow account an amount equal to such decrease in Purchase Price, (2) Contico shall be entitled to receive the balance of the principal of the escrow account, and (3) the earnings shall be paid over to the parties in the same proportions as the principal is paid over. Any payment required to be made by a party under this Section 1.3(c), shall be made within three (3) business days after agreement on, or determination of, the Final Audited Financial Statements.
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ADJUSTING PAYMENT. Within 15 Business Days of the agreement, deemed agreement or determination of the Completion Statements in accordance with schedule 5: (a) if the Consideration exceeds the Completion Payment, the Purchaser shall pay an amount equal to the excess to the Seller; or (b) if the Consideration is less than the Completion Payment, the Seller shall repay an amount equal to the difference to the Purchaser.
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ADJUSTING PAYMENT. (a) Within three (3) Business Days of the agreement or determination of the Purchase Price in accordance with Clause 3.3: (i) if the Purchase Price exceeds the Closing Payment, the Buyer shall pay the difference to the Seller, on such bank account as shall have been notified by the Seller to the Buyer no later than five (5) Business Days prior to the Closing Date; or (ii) if the Purchase Price is less than the Closing Payment, the Seller shall repay the difference to the Buyer, on such bank account as shall have been notified by the Buyer to the Seller no later than five (5) Business Days prior to the Closing Date. (a) shall bear interest except for the legal interest that would be applicable in the case of late payment as per paragraph (a). (b) The amount of the Purchase Price as determined pursuant to Clause 3.3 shall be final and binding on the Parties which expressly waive any rights whatsoever to dispute the determination of the computation of the Cash, the Debt, the Target Working Capital and the Working Capital, and therefore, the Purchase Price except in case of fraud or manifest error.
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ADJUSTING PAYMENT. 10-11 5. Ownership Rights............................................................................ 11-13 6. Site Licences and Licence Fees.............................................................. 13-17 7. Further Stations to be acquired, additional Stations to be shared and removal of Stations.................................................................................... 17-19 8. Operating Procedures Manual.....................................................................
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ADJUSTING PAYMENT. Within *** of the end of each calendar quarter (commencing after Elan has made the first commercial sale of any Product), Elan shall calculate the amount of an additional payment from Elan to Ligand (if any) as follows: in respect of each Product and for the quantities supplied in each country of the Territory, Elan shall pay to Ligand the amount (if any) by which the product of the Net Sale Price and the relevant proportion for that Product set out in APPENDIX B exceeds the Floor Price in respect of the Product in each country of the Territory. Such adjusting payment shall be made within *** from the end of each calendar quarter (commencing after Elan has made the first commercial sale of any Product). For purposes of this calculation, the Net Sale Price shall be converted into US dollars at the mid-price exchange rate between the local currencies and the US dollar as published in THE FINANCIAL TIMES on the day on which such additional payment is calculated. For the *** Portions of this page have been omitted pursuant to a request for Confidential Treatment and filed separately with the Commission. avoidance of doubt, in no instance shall the result of these calculations cause a negative adjustment to the Floor Price.
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ADJUSTING PAYMENT. (a) Within five Business Days of the agreement, deemed agreement or determination of the Completion Statements in accordance with schedule 6: (i) if the Consideration exceeds the Completion Payment, the Purchaser shall pay an amount equal to the difference to the Seller; or (ii) if the Consideration is less than the Completion Payment, the Seller shall repay an amount equal to the difference to the Purchaser. (b) Any adjusting payment made in accordance with this clause 3.4 shall be converted (to the extent expressed in Pounds Sterling for the purposes of the Completion Statements) into dollars at the relevant exchange rate prevailing at the close of business on the Business Day immediately preceding the date of payment, as shown in the London edition of the Financial Times, or such other point of reference as the parties shall agree.
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Related to ADJUSTING PAYMENT

  • Billing & Payment 6.2.1 The Generator shall raise a monthly energy ▇▇▇▇ based on the joint meter reading taken by the Generator and the MSEDCL at the end of each month along with the monthly fuel usage certificate certified by the Chartered Account, in the forms annexed as Annexures (A to E). 6.2.2 The due date for the payment of ▇▇▇▇ by the MSEDCL shall be thirty (30) days from the date of receipt of the ▇▇▇▇ in Circle Office.

  • Crediting Payments The receipt of any payment item by Agent shall not be required to be considered a payment on account unless such payment item is a wire transfer of immediately available funds made to Agent’s Account or unless and until such payment item is honored when presented for payment. Should any payment item not be honored when presented for payment, then Borrowers shall be deemed not to have made such payment. Anything to the contrary contained herein notwithstanding, any payment item shall be deemed received by Agent only if it is received into Agent’s Account on a Business Day on or before 1:30 p.m. If any payment item is received into Agent’s Account on a non-Business Day or after 1:30 p.m. on a Business Day (unless Agent, in its sole discretion, elects to credit it on the date received), it shall be deemed to have been received by Agent as of the opening of business on the immediately following Business Day.

  • Corresponding Payment Each permanent reduction permitted pursuant to this Section shall be accompanied by a payment of principal sufficient to reduce the aggregate outstanding Revolving Credit Loans, Swingline Loans and L/C Obligations, as applicable, after such reduction to the Revolving Credit Commitment as so reduced, and if the aggregate amount of all outstanding Letters of Credit exceeds the Revolving Credit Commitment as so reduced, the Borrower shall be required to deposit Cash Collateral in a Cash Collateral account opened by the Administrative Agent in an amount equal to such excess. Such Cash Collateral shall be applied in accordance with Section 10.2(b). Any reduction of the Revolving Credit Commitment to zero shall be accompanied by payment of all outstanding Revolving Credit Loans and Swingline Loans (and furnishing of Cash Collateral satisfactory to the Administrative Agent for all L/C Obligations) and shall result in the termination of the Revolving Credit Commitment and the Swingline Commitment and the Revolving Credit Facility. If the reduction of the Revolving Credit Commitment requires the repayment of any LIBOR Rate Loan, such repayment shall be accompanied by any amount required to be paid pursuant to Section 5.9 hereof.

  • Invoicing Payment All invoicing and payment for services performed under this Contract shall be as specified in Attachment B, hereto.

  • Salary Payment In consideration of Executive’s timely execution and non-revocation of the Release by the Release Deadline Date, the Company shall pay Executive a severance payment equal to Executive’s Monthly Base Salary multiplied by the number of months in the Covered Termination Severance Period, less applicable withholdings. The severance payment shall be payable (except as set forth in Article 5) in a lump sum on the first regularly-scheduled payroll date occurring on or after the Release Deadline Date.