Change in Payment Terms Sample Clauses

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Change in Payment Terms. McKesson reserves the right, in its reasonable discretion and upon prior written notice, to change a payment term (including imposing the requirement of cash payment upon delivery (“C.O.D.”) or limit total credit, if McKesson concludes there has been an unsatisfactory payment performance and such unsatisfactory payment performance remains uncured for a period of [***Redacted***] following Rite Aid’s receipt of written notice (the “Unsatisfactory Payment Notice”, which shall set forth in reasonable detail the grounds or basis for such determination) thereof. For purposes hereof, “unsatisfactory payment performance” shall be defined as failure by Rite Aid to pay at least [***Redacted***] of the full amount owed to McKesson on the applicable due date; provided however, nothing in this Section 7.12 shall limit any of Rite Aids rights pursuant to Section 7.3 of this Agreement. If McKesson has changed Rite Aid’s payment terms to C.O.D. and Rite Aid fails to make such C.O.D. payment, McKesson further shall be entitled to suspend or discontinue the shipment of any additional orders to Rite Aid’s Pharmacies and Warehouses. In the event that McKesson exercises its right to change payment terms pursuant to this Section 7.12 as specified above, McKesson will offer Rite Aid an additional [***Redacted***] for each day Days Sales Outstanding (“DSO”) is reduced beyond the then current payment terms and any such pricing adjustment will be reflected in the invoiced Cost of Goods (“DSO Cost of Goods Adjustment”). With the exception of the DSO Cost of Goods Adjustment, McKesson shall have no right to alter any pricing terms under this Agreement in conjunction with its right to change payment terms pursuant to this Section 7.12. Notwithstanding anything in the foregoing, in the event that McKesson changes Rite Aid’s payment terms hereunder pursuant to Section 7.12 above, Rite Aid shall have the right [***Redacted***]. If following any change in Rite Aid’s payment terms by McKesson, Rite Aid becomes and remains for [***Redacted***] consecutive business days current with respect to all outstanding amounts due and owing to McKesson, McKesson agrees that it will immediately following such [***Redacted***] period restore Rite Aid to [***Redacted***]. Upon such restoration of [***Redacted***], any previously applicable DSO Cost of Goods Adjustment will no longer be in effect. Additionally, in the event that Rite Aid’s payment terms are restored as discussed above and a subsequent un...
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Change in Payment Terms. The remaining principal outstanding shall be due and payable in 24 equal consecutive monthly installments in the amount of $228,000.00 each, commencing on April 1, 1998, and continuing on the first day of each consecutive month thereafter to and including March 1, 2000, and a final installment of $228,000.00 on March 31, 2000. Interest shall be payable at the same times as the principal payments, as billed by the Bank. Any outstanding principal and accrued interest shall be due and payable in full on March 31, 2000.
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Change in Payment Terms. In the event that Buyer fails to make payments on a timely basis, QUALCOMM shall have the right to condition further deliveries under open P.O.s, and/or acceptance of additional P.O.s on Buyers payment of the full price for Product(s) covered thereby prior to delivery.
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Change in Payment Terms. 2.1 Change in the Payment Terms From and after the date set forth above, the Vendors hereby agree, notwithstanding any other provision of the Share Purchase Agreement, to accept the Settlement Consideration as full and final consideration for the Purchased Shares, in lieu of the Obligations which remains currently payable under the Share Purchase Agreement. The Settlement Consideration shall be paid to the Vendors in 43 equal monthly instalments as follows: (a) on the first business day of each calendar month (a "Payment Date") commencing August 1, 2006 and continuing for 42 months thereafter the amount of $50,000 in cash. In addition, an commencing on the earlier of: (i) November 1, 2006; or (ii) the effective date of the registration statement filed by Purchaser in connection with Section 2.3(a) below, and continuing for 42 months thereafter the amount of $35,000 in shares of the Purchaser's common stock (each share a "Consideration Share", collectively the "Consideration Shares"). The obligation of the Purchaser to issue and deliver the Consideration Shares to the Vendors is hereinafter referred to as the ("Share Payment Obligation"). Purchaser shall not pay Vendors any interest on the Settlement Consideration or with respect to the payments set forth in this section. Vendors expressly agree and acknowledge that, except as set forth in this Agreement, Purchaser shall have no further payment obligations to Vendors, including, but not limited to those obligations set forth in Article 2 of the Share Purchase Agreement. In the event that the registration statement filed by Purchaser (as set forth below) is not effective at the time that the first or any subsequent Share Payment Obligation is due, Purchaser shall pay the Share Payment Obligation by paying to the Vendors the sum of $35,000 cash.
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Change in Payment Terms. In addition to any other rights and remedies under the Interim Supply Agreement, upon the expiration of any Cure Period following any Unsatisfactory Payment Performance, without cure from RAC, and without any further notice or consent of RAC or any other person, McKesson may elect to (i) suspend or discontinue the shipment of any additional orders to RAC or any of its Pharmacies and/or (ii) change any of the payment terms of this Interim Supply Agreement including, without limitation, by imposing the requirement for all future invoices of cash payment upon delivery, subject to payment in full of all outstanding invoices for goods delivered on and after the Petition Date. Superpriority Claims All amounts owed by RAC to McKesson on account of goods shipped on and after the Petition Date shall be granted a superpriority administrative expense claim against each of the Debtors’ estates pursuant to Section 364(c)(1) of the Bankruptcy Code8 (the “Superpriority Claims”), which for the purposes of section 1129(a)(9)(A) of the Bankruptcy Code shall be considered an administrative expense allowed in full under section 503(b) of the Bankruptcy Code. McKesson’s Superpriority Claims shall be senior to all administrative claims in the Bankruptcy Cases and shall be immediately junior to (i) the DIP Superpriority Claims, (ii) any Adequate Protection Superpriority Claims, and (iii) for the avoidance of doubt, the Carve Out.9
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Change in Payment Terms. If Distributor fails to make any payment at the time required pursuant to the terms of this Agreement, Company shall have the right to withhold shipment of Product until all late payment has been made or to revoke or alter the above credit terms by delivery of written notice to Distributor.
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Change in Payment Terms. 2.1 Change in the Payment Terms From and after the date set forth above, the Vendors hereby agree, notwithstanding any other provision of the Share Purchase Agreement or the Amendment, to accept the following consideration instead of the Settlement Consideration and in lieu of the Obligations which are payable under the Share Purchase Agreement and the Amendment as full and final consideration for the Purchased Shares. The Vendors shall be paid $3,600,000 in 60 equal monthly instalments of $60,000 (in cash) on the first business day of each calendar month (a "Payment Date") commencing August 1, 2006 and continuing for 59 months thereafter. Vendors expressly agree and acknowledge that, except as set forth in this Agreement, Purchaser shall have no further payment obligations to Vendors, including, but not limited to those obligations set forth in Article 2 of the Share Purchase Agreement and those obligations set forth in Article 2 of the Amendment.
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Change in Payment Terms. The new payment terms will change from 30 days to 60 days, as of the Effective Date. All payment amounts are due 60 days from the date of the invoice.
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Change in Payment Terms. The language under “Payment Terms” in SOW 2 is hereby amended to read in full as follows: “Service Provider shall submit monthly invoices to DemandTec at the end of the month detailing the Services performed and the fees incurred in the previous month. DemandTec shall pay Service Provider all undisputed fees within 45 days of its receipt of invoice. A penalty of 0.5% per month shall apply to all late payments.”
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Related to Change in Payment Terms

  • Transfer to Avoid Termination Event If either an Illegality under Section 5(b)(i)(1) or a Tax Event occurs and there is only one Affected Party, or if a Tax Event Upon Merger occurs and the Burdened Party is the Affected Party, the Affected Party will, as a condition to its right to designate an Early Termination Date under Section 6(b)(iv), use all reasonable efforts (which will not require such party to incur a loss, excluding immaterial, incidental expenses) to transfer within 20 days after it gives notice under Section 6(b)(i) all its rights and obligations under this Agreement in respect of the Affected Transactions to another of its Offices or Affiliates so that such Termination Event ceases to exist. If the Affected Party is not able to make such a transfer it will give notice to the other party to that effect within such 20 day period, whereupon the other party may effect such a transfer within 30 days after the notice is given under Section 6(b)(i). Any such transfer by a party under this Section 6(b)(ii) will be subject to and conditional upon the prior written consent of the other party, which consent will not be withheld if such other party's policies in effect at such time would permit it to enter into transactions with the transferee on the terms proposed.

  • Change of Control Termination If, during a Protected Period following a Change of Control, the Company terminates Executive’s employment during the Term without Cause, Executive resigns his employment upon the expiration of the Term following the Company’s election not to extend the Term, or Executive resigns his employment during the Term for Good Reason, then Executive shall be entitled to receive (i) payment of the Accrued Obligation and any unreimbursed business expenses and (ii) subject to the satisfaction of any applicable performance targets, as described in Section 3.3, any of Executive’s unpaid Bonuses with respect to a previous calendar year completed prior to the Date of Termination (without regard to any requirement that Executive remain employed through the date of determination of such Bonuses). In addition, subject to Executive’s (x) delivery to the Company by the Release Expiration Date (and non-revocation in any time provided to do so) of an executed Release and (y) compliance with Articles V, VI, and VII, Executive shall also be entitled to receive: (1) a payment of the Annual Bonus for the calendar year during which Executive’s employment is terminated at the target level; (2) any and all long-term equity compensation awards granted to Executive under any plan not previously vested shall become fully vested, with any unexercised options as of the Date of Termination remaining exercisable for the full term thereof; provided, however, that, with respect to any award that is intended to be performance-based compensation under Section 162(m) of the Code, such award shall be paid at the target level without regard to any performance goal otherwise applicable thereto; (3) a lump sum payment of an amount equal to three (3) times the sum of (A) the annualized rate of Executive’s Base Salary as in effect on the Date of Termination and (B) Executive’s target Annual Bonus for the calendar year in which the Date of Termination occurs; and (4) a lump sum payment of an amount equal to all COBRA premiums that would be payable during the period beginning on the Date of Termination and ending on the date that is three (3) years after the Date of Termination, assuming Executive and his dependents who were enrolled in the Company’s group health plans as of the Date of Termination elected continuation coverage under the Company’s group health plans as in effect, and at the applicable COBRA rates, as of the Date of Termination, without regard to whether Executive and his dependents actually elected such coverage or whether actual COBRA coverage is applicable for the above-referenced time period.

  • Change in Payment Instructions to Obligors Except as may be required by Agent pursuant to Section 8.2(b), such Seller Party will not add or terminate any bank as a Collection Bank, or make any change in the instructions to Obligors regarding payments to be made to any Lock-Box or Collection Account, unless Agent and each Purchaser Agent shall have received, at least ten (10) days before the proposed effective date therefor, (i) written notice of such addition, termination or change and (ii) with respect to the addition of a Collection Bank or a Collection Account or Lock-Box, an executed Collection Account Agreement with respect to the new Collection Account or Lock-Box; provided, however, that Servicer may make changes in instructions to Obligors regarding payments if such new instructions require such Obligor to make payments to another existing Collection Account.

  • Repurchase upon Change of Control (a) If a Change of Control Triggering Event occurs, unless the Company has exercised its right, if any, to redeem the Senior Notes in full, the Company shall offer (the “Change of Control Offer”) to repurchase any and all of each Holder’s Senior Notes (equal to $2,000 or an integral multiple of $1,000 above that amount) at a repurchase price in cash equal to 101% of the aggregate principal amount of the Senior Notes repurchased plus accrued and unpaid interest, if any, to, but not including, the date of repurchase (the “Change of Control Payment”). Within 30 days following any Change of Control Triggering Event, the Company shall be required to mail a notice to each Holder of the Senior Notes to the address of such Holder appearing in the Registrar, with a copy to the Trustee or otherwise in accordance with the procedures of DTC, describing the transaction or transactions that constitute the Change of Control Triggering Event and offering to repurchase such Senior Notes on the date specified in the notice, which date will be no less than 30 days and no more than 60 days from the date such notice is mailed (the “Change of Control Payment Date”), with the following information: (i) a Change of Control Offer is being made pursuant to this Section 2.9 and that all Senior Notes properly tendered pursuant to such Change of Control Offer will be accepted for payment; (ii) the repurchase price and the Change of Control Payment Date; (iii) any Senior Note not properly tendered will remain outstanding and continue to accrue interest; (iv) unless the Company defaults in the payment of the Change of Control Payment, all Senior Notes accepted for payment pursuant to the Change of Control Offer will cease to accrue interest on, but not including, the Change of Control Payment Date; (v) Holders electing to have any Senior Notes repurchased pursuant to a Change of Control Offer will be required to surrender such Senior Notes, in the form set forth in Exhibit A entitled “Option of Holder to Elect Purchase”, on the reverse of such Senior Notes completed, to the Paying Agent specified in the notice at the address specified in the notice prior to the close of business on the third business day preceding the Change of Control Payment Date; (vi) Holders will be entitled to withdraw their tendered Senior Notes and their election to require the Company to repurchase such Senior Notes, provided that the Paying Agent receives, not later than the close of business on the last day of the Change of Control Offer period, a facsimile transmission, an email or a letter setting forth the name of the Holder of Senior Notes, the principal amount of Senior Notes tendered for repurchase, and a statement that such Holder is withdrawing his tendered Senior Notes and his election to have such Senior Notes repurchased; (vii) if such notice is mailed prior to the occurrence of a Change of Control, stating that the Change of Control Offer is conditional on the occurrence of such Change of Control; and (viii) that Holders whose Senior Notes are being repurchased only in part will be issued new Senior Notes equal in principal amount to the unpurchased portion of the Senior Notes surrendered, which unpurchased portion must be equal to $2,000 in principal amount or an integral multiple of $1,000 in excess thereof. (b) While the Senior Notes are in global form and the Company makes an offer to repurchase all of the Senior Notes pursuant to the Change of Control Offer, a Holder may exercise its option to elect for the repurchase of the Senior Notes through the facilities of DTC, Euroclear and Clearstream, subject to their rules and regulations. (c) The Company shall not be required to make a Change of Control Offer upon the occurrence of a Change of Control Triggering Event if (1) a third party makes the Change of Control Offer in the manner, at the times and otherwise in compliance with the requirements set forth in this Supplemental Indenture applicable to a Change of Control Offer made by the Company and the third party repurchases on the applicable date all Senior Notes properly tendered and not withdrawn under such Change of Control Offer, provided that a failure by such third party to comply with the requirements of such Change of Control Offer and to complete such Change of Control Offer shall be treated as a failure by the Company to comply with its obligations to offer to repurchase the Senior Notes unless the Company promptly makes an offer to repurchase the Senior Notes at 101% of the principal amount thereof plus accrued and unpaid interest, if any, to, but not including the date of repurchase, which shall be no later than 30 days after the third party’s scheduled Change of Control Payment Date, or (2) a notice of redemption has been given pursuant to the Indenture as described under Section 4.03 of the Base Indenture, unless and until there is a default in payment of the applicable redemption price. Notwithstanding anything to the contrary herein, a Change of Control Offer may be made in advance of a Change of Control, conditional upon such Change of Control. (d) The Company shall comply with the requirements of Rule 14e-1 under the Exchange Act and any other securities laws and regulations thereunder to the extent such laws and regulations are applicable in connection with the repurchase of Senior Notes as a result of a Change of Control Triggering Event. To the extent that the provisions of any securities laws or regulations conflict with the Change of Control repurchase provisions of this Supplemental Indenture, the Company shall comply with the applicable securities laws and regulations and shall not be deemed to have breached its obligations under Section 2.9 of this Supplemental Indenture by virtue thereof. (e) On the Change of Control Payment Date, the Company shall, to the extent permitted by law, (i) accept or cause a third party to accept for payment all Senior Notes properly tendered pursuant to the Change of Control Offer; (ii) deposit or cause a third party to deposit with the Paying Agent an amount equal to the Change of Control Payment in respect of all Senior Notes properly tendered; and (iii) deliver or cause to be delivered to the Trustee the Senior Notes properly accepted, together with an Officers’ Certificate stating the principal amount of Senior Notes being repurchased. (f) The Paying Agent shall promptly deliver to each Holder of Senior Notes the Change of Control Payment for such Senior Notes. The Company shall publicly announce the results of the Change of Control Offer on or as soon as practicable after the Change of Control Payment Date.

  • Payment on Change of Control In the event that a Change of Control of the Company occurs while this Note remains outstanding, upon the written consent of the Majority Holders, the Company shall pay to the Holder at the closing of such Change of Control a cash amount equal to three (3) times the outstanding principal amount of such Note, together with all interest accrued thereon. A “Change of Control” means: (i) a merger or consolidation of the Company (or of a subsidiary of the Company) in which outstanding shares of the Company (or of a subsidiary of the Company) are exchanged for securities or other consideration issued, or caused to be issued, by the acquiring corporation or its subsidiary and after which the Company’s stockholders own less than 50% of the voting stock of the surviving company (other than a bona fide equity financing or a mere reincorporation transaction), (ii) a sale or other disposition of all or substantially all of the assets of the Company and its subsidiaries, taken as a whole, (iii) a transfer of more than 50% of the Company’s voting securities to any person or group of persons or (iv) any Deemed Liquidation Event, as such term is defined in the Company’s Certificate of Incorporation, as amended from time to time. For the avoidance of doubt, if this Note is converted pursuant to Section 2(b), Holder shall not be entitled to any payment pursuant to this Section 3.