Damage Payment Sample Clauses

A Damage Payment clause establishes the obligation for one party to compensate the other for losses or harm resulting from a breach of contract or specific events. Typically, this clause outlines the types of damages covered, such as direct, indirect, or consequential damages, and may specify how the amount is calculated or capped. Its core practical function is to allocate financial risk between the parties and provide a clear mechanism for addressing losses, thereby promoting fairness and predictability in the event of a dispute.
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Damage Payment. HIGH SCHOOL shall, as soon as practical but not more than sixty (60) days following receipt of written demand and support for the demand, pay for any damages occasioned by it, its school-sponsored auxiliary groups or its employees to any city-owned property.
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Damage Payment. The Parties agree that the Damage Payment to be paid by Seller for any Event of Default arising prior to the commencement of the Delivery Term shall be considered liquidated damages and not a penalty, in accordance with Section 7.1.
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Damage Payment. Landlord is required to bear the costs to repair and fix damages that are not caused by Tenant; and
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Damage Payment a. With respect to Site Built Structures, Damage Payment means the amount payable to Settlement Class Members under this Settlement Agreement calculated in accordance with the compensation formula A =[(CD) x (RC)]-D where A is the Damage Payment, CD is the amount of Compensable Damage, RC is the Replacement Cost, and D is the applicable Deductions. b. With respect to Mobile Homes, Damage Payment means 50% of the applicable Replacement Cost times the number of panels on the mobile home evidencing Damage without any other Age or Non-Painting Deduction. c. All Damage Payments shall be in the amounts and paid at the times provided in this Settlement Agreement calculated in strict accordance with the provisions of this Agreement; provided that the payments to Settlement Class Members who file a Claim for Unreimbursed Repair shall not exceed the lesser of the reasonable and properly documented out-of-pocket costs of the repairs or replacements or the amount that would have been awarded under the compensation formula; and provided, further that any amounts payable under this compensation formula shall be reduced by any compensation received by the Settlement Class Member on account of such Damaged Siding from any other source, including but not limited to Defendants, builders, developers, contractors, manufacturers, wholesalers, retailers or insurers, but only to the extent that the sum of such other payments and the Damage Payment exceeds the product of Replacement Cost multiplied times the total square footage of the Siding that has sustained Damage. d. If any portion of a piece of lap or panel Siding has sustained both Excluded Damage and Compensable Damage, the entire surface area of that lap board or panel Siding will be deemed to be Compensable Damage in calculating the Damage Payment. e. Compensable Damage to any Siding, the production of which has been discontinued or is discontinued before or during the Term of this Agreement and for which there is no reasonably appropriate substitute, shall be entitled to payment as follows: (i) if 30% or more of any Side of a Property has sustained Compensable Damage, then the Compensation Formula shall include all of the remaining Siding on that Side as Compensable Damage; or (ii) if 40% or more of the Siding on the entire Property has sustained Compensable Damage, then the Compensation Formula shall include all of the remaining Siding on the Property as Compensable Damage. The Parties agree that no reasonable substit...
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Damage Payment. If a family is responsible for payment due to loss, theft, or damage, a notice will be sent with a brief explanation and the amount due. Payments should be made at the school office. Replacement costs will be determined at the time of the incident. No less than $300 for the Chromebook, no less than $25 for a missing charger, and $15 for a missing case.
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Damage Payment. In the event of default of obligations under this agreement, damages at the rate of 14.5% per annum on the amount owed shall be paid.
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Damage Payment. In the event that this Agreement is terminated pursuant to Section 6.1(b)(ii), the Corporation shall pay Offeror an amount equal to US$1,374,852.00 being 3% of the amount on the date hereof that would be paid by Offeror to acquire all of the Shares pursuant to the completion of the Offers.
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Damage Payment. In the event that a family is responsible for payment due to loss, theft or damage, a notice will be sent with a brief explanation and amount due. Payments should be made at the school office. Battery $20 - $70 Top case $15 - $50 Display/Screen $35 - $50 Power adapter $20 - $30 Power port $5 - $10 System board $60 - $125 Middle case $25 - $45 Trackpad $25 - $75 Bottom case $15 - $50 Daughter board $40 - $60 Keyboard $35 - $75 Hard disk drive $40 - $55 Display bezel $20 - $30 iPad screen $100 - $150 iPad display $100 - $125 The policies, procedures, and information within this document apply to all students who are issued an electronic device owned by MPS. Classroom teachers may set additional requirements for use in their classrooms. ● A device will be distributed to all students in grades K - 8. ○ Chromebook carts in the 3rd - 8th grade homerooms will make devices available to your child. ○ K - 2 classrooms will use iPads and most elementary classrooms have charging stations for iPads. ● Parents and students must sign this contract in order to use devices at school. ● Wireless network access is available throughout the school. MPS makes no guarantee that their network will be up and running 100% of the time. In the rare case that the network is down, the district will not be responsible for lost or missing data.
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Related to Damage Payment

  • PRE-PAYMENT The Tenant shall: (check one)

  • One-Time Payment Tenant shall pay to Landlord a one-time payment in the amount of Twelve Thousand Five Hundred and No/100 Dollars ($12,500.00), payable within thirty (30) days of the Effective Date and subject to the following conditions precedent: (a) ▇▇▇▇▇▇’s receipt of this Amendment executed by ▇▇▇▇▇▇▇▇, on or before January 14, 2021; (b) ▇▇▇▇▇▇’s confirmation that Landlord’s statements as further set forth in this Amendment are true, accurate, and complete, including verification of Landlord’s ownership; (c) Tenant’s receipt of any documents and other items reasonably requested by Tenant in order to effectuate the transaction and payment contemplated herein; and (d) receipt by Tenant of an original Memorandum (as defined herein) executed by ▇▇▇▇▇▇▇▇.

  • Contingent Payment (a) In the event that Purchaser consummates a Change of Control Transaction prior to the second anniversary of the Closing Date (a “Qualifying Sale Transaction”), then Seller shall be entitled to receive a payment in an amount equal to twenty percent (20%) of the Net Sale Proceeds, valuing any non-cash consideration included in the Net Sale Proceeds at fair market value (as determined in good faith by the board of directors of Purchaser) (such payment, the “Contingent Payment”), payable in accordance with the provisions of this Section 2.7. (b) No later than five (5) days following the final determination of the Qualifying Sale Proceeds pursuant to the post-closing purchase price adjustment provisions of the definitive agreement for such Qualifying Sale Transaction (the “Qualifying Sale Agreement”) Purchaser shall deliver to Seller, along with reasonable supporting documentation, a statement setting forth in reasonable detail Purchaser’s good faith calculation of the Net Sale Proceeds and the resulting Contingent Payment (the “Contingent Payment Statement”). Purchaser’s calculation of the Contingent Payment set forth in the Contingent Payment Statement shall be final and binding for all purposes of this Agreement unless Seller delivers to Purchaser a written objection to such calculation within twenty (20) days following the date of delivery of the Contingent Payment Statement setting forth in reasonable detail Seller’s basis for its objection. In the event that Seller timely submits any such written objection, then Purchaser and Seller shall negotiate in good faith to resolve their dispute with respect to the calculation of the Contingent Payment; provided, that if such dispute is not resolved within twenty (20) days after delivery of such written objection, then the dispute resolution provisions of Section 2.4(b) shall apply, mutatis mutandis. (c) No later than three (3) Business Days after final determination of the amount of the Contingent Payment pursuant to Section 2.7(b), Purchaser shall pay to Seller the Contingent Payment by wire transfer of immediately available funds to the bank account designated by Seller at least one (1) Business Day prior to the end of such three (3) Business Day period; provided, that in the event that any portion of the consideration to be received by Cerberus pursuant to such Qualifying Sale Transaction (i) is subject to any escrow, holdback or other contingency, then the proportionate amount of the Contingent Payment shall be withheld and not paid to Seller unless, until and only to the extent that such portion of Cerberus’s consideration is released to Cerberus from any such escrow or holdback, or such contingency lapses or is satisfied (or any portion of the amounts withheld in respect of such contingency is distributed to the limited partners or other investors of Cerberus), as applicable, and (ii) is non-cash consideration, then the Contingent Payment shall be made in the same proportion of cash and non-cash consideration as the proportion of cash and non-cash consideration comprising the Qualifying Sale Proceeds; provided further that, to the extent receipt of any non-cash consideration would cause Seller or any of its Affiliates to be bound by, or otherwise subject to, any noncompetition, nonsolicitation or other material restrictive covenant (other than a customary confidentiality covenant, and expressly excluding any shareholder restrictions on transfer that apply equally to Cerberus), Seller instead shall be entitled to receive from Purchaser cash with a value equivalent to such non-cash consideration, valuing such non-cash consideration at fair market value (as determined in good faith by the board of directors of Purchaser). (d) Notwithstanding anything to the contrary in this Section 2.7 or otherwise, but subject to any rights Seller or any of its Affiliates may have under the Ancillary Agreements, (i) Seller shall have no rights with respect to any Change of Control Transaction, Qualifying Sale Transaction or Qualifying Sale Agreement (including, without limitation, no information rights or rights to object or consent to any such transaction or agreement) other than the rights expressly set forth herein to receive the Contingent Payment if and when payable pursuant to the terms of this Section 2.7 and (ii) Purchaser shall not be permitted in connection with any Qualifying Sale Transaction to bind Seller or any of its Affiliates to sell any equity interests to, or to make any agreement, covenant or restriction with or in favor of, any third party.

  • Late Payment Surcharge In the event of delay in payment of a Monthly ▇▇▇▇ by Buyer beyond thirty (30) days of its Due Date, a Late Payment Surcharge shall be payable to the SPD at the rate of 1.25% per month on the outstanding amount calculated on a day to day basis subject to such late payment being duly received by Buyer under the PSA from the Buying Entity(ies). The Late Payment Surcharge shall be claimed by the SPD through the Supplementary ▇▇▇▇.

  • Overtime Payment Full-time employees shall be paid at the rate of one and one-half times the employee's straight time hourly rate for all time worked outside of their normal work hours and/or work days up to sixteen (16) hours in a twenty-four (24) hour period. For hours worked in excess of sixteen (16) in a twenty-four (24) hour period, employees shall be paid double time. Employees who receive an unpaid lunch period and are not required to work at their work assignments during such period shall not have such time treated as hours worked for the purpose of computing overtime.