Deposit and Other Payments Sample Clauses

Deposit and Other Payments. The Parties acknowledge that (a) Buyer has posted a deposit consisting of (i) an aggregate of $3,000,000 in cash (the "CASH DEPOSIT") and (ii) an aggregate of 1,000,000 shares of Buyer Parent Common Stock (the "STOCK DEPOSIT" and together with the Cash Deposit, the "SIGNING DEPOSIT"), (b) the Cash Deposit was paid to FRS on behalf of the Seller Parties and will be used by FRS for the purpose of funding capital expenditures required in the continued operation of FRS' business, and (c) the Stock Deposit will be allocated among the Seller Parties in accordance with the proceeds direction set forth on EXHIBIT A attached to this Agreement. The Cash Deposit and the Stock Deposit shall be applied toward payment of the Cash Consideration or the Stock Consideration, as applicable, at Closing.
View Source
Deposit and Other Payments. 5.1. Notwithstanding any other provision in this Agreement, if any Payment Date on which any payment under this Agreement is payable shall fall on a day which is not a Business Day, the payment payable on that Payment Date shall be due and payable on the immediately succeeding Business Day; and if that immediately succeeding Business Day shall fall in the next calendar month, then the said payment shall be due and payable on the Business Day immediately preceding that Payment Date; and if in a given calendar month there is no date corresponding to that Payment Date, the Payment shall be paid on the last Business Day of the calendar month in which that Payment Date initially falls. On the Expiry Date, the Hirer will pay the Owner any Residual payment. 5.2. If the total amount of Total Rent payable under this Agreement shall change by virtue of any adjustment to any Payment Date, variation will be correspondingly made to the amount of any Total Rent payable on any Payment Date as the Owner thinks fit at its absolute discretion in order to reflect the abovementioned change in the total amount of Total Rent payable. 5.3. All sums payable to the Owner under this Agreement shall be paid to the Owner in such manner and at such address as the Owner may from time to time specify. Such payments shall only be deemed to have been made when received by the Owner. Payments made by post shall be at the risk of the Hirer. 5.4. The Hirer confirms that it is customary in the hire purchase business for an owner to pay or be paid commission in respect of the supply of goods the subject of a hire purchase agreement or otherwise in respect of a hire purchase agreement and hereby expressly agrees and consents to the Owner making or receiving any such payment, including but not limited to payment to the Hirer’s agents, in respect of the Goods or this Agreement and acknowledges that the amount of any such payment may be reflected in the Total Rent payable under this Agreement and that the Owner has no obligation to account to the Hirer for the amount of any sum so received. 5.5. The Hirer’s obligation to the pay the Total Rent and all other money payable under this Agreement and the Owner’s rights in and to all such payments are absolute and unconditional and are not affected by: a. Any defect in the Goods; b. The condition, operation or fitness for use of the Goods; c. Any loss of or damage to the Goods; d. Any lien or other encumbrance over or in respect of the Goods; e. Any def...
View Source
Deposit and Other Payments 
View SourceView Similar (6)

Related to Deposit and Other Payments

  • Rent and Other Payments This paragraph contains detailed commercial terms. ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ .

  • Royalties and Other Payments A. For the rights, privileges and exclusive license granted hereunder, Licensee shall pay to CMCC the following amounts in the manner hereinafter provided. Unless expressly stated otherwise in this Agreement, periodic payment obligations listed below shall endure through the Term of this Agreement, unless this Agreement shall be sooner terminated as hereinafter provided. 1. A license amendment fee of [* * *], and such fee is due within thirty (30) days after the Effective Date of this Agreement. 2. As of the Effective Date Licensee has paid in full the license issue fee of [* * *], which license issue fee was deemed earned and due within thirty (30) days of the effective date of the Original Agreement. 3. Licensee shall make the following one-time payments to CMCC in connection with the first occurrence of the following events (“Milestones”): (a) [* * *] upon the [* * *] by Licensee or any Sublicensee with respect to a Licensed Product; (b) [* * *] upon the [* * *] by Licensee or any Sublicensee with respect to a Licensed Product; and (c) [* * *] upon the [* * *] of a Licensed Product. Licensee will promptly notify CMCC in writing of the achievement of any of the foregoing Milestones by Licensee or any of its Sublicensees, and will require its Sublicensees to provide it with prompt written notice upon their achievement of any of the foregoing Milestones. CMCC may invoice Licensee for the applicable Milestone payment after receipt of such notice, and Licensee shall pay such invoice within forty-five (45) days after its receipt thereof. B. During the Term, Licensee shall pay CMCC running royalties in an amount equal to [* * *] of Net Sales of Licensed Products or Licensed Processes used, leased or sold by and/or for Licensee (including its Affiliates) or any Sublicensees (“Running Royalties”); provided, however, to the extent that a license or licenses is required by Licensee to third party patents or other intellectual property (i) in order to practice the Patent Rights, or (ii) in order to manufacture or sell Licensed Products without such activities (as described in clause (i) or (ii) of this sentence) resulting in the infringement of such third party intellectual property, Licensee may, for each such required license, deduct from the Running Royalties owed to CMCC an amount up to [* * *] of the royalties due to each third party for such intellectual property rights; provided further, that no single Running Royalty payment owed to CMCC may be reduced by more than [* * *] as a result of any such deduction. Licensee may not deduct, as a result of any such required third party license, a greater percentage of royalties from those owed to CMCC than the percentage deducted from such third party from whom such license is required as described in this Paragraph. Notwithstanding anything in this ARTICLE IV, Paragraph B, the Running Royalty owed to CMCC by Licensee shall not be reduced below [* * *] of the Net Sales of Licensed Products or Licensed Processes. 1. No multiple royalties shall be payable on account of any Licensed Product or Licensed Process, its manufacture, use, lease or sale being covered by more than one Patent Rights patent application or Patent Rights issued patent licensed under this Agreement. In the event that any patent or claim thereof included within the Patent Rights is no longer a Valid Claim, then all obligations to pay royalties based on that patent or claim or any claim patentably indistinct therefrom will cease as of the date such patent or claim is no longer a Valid Claim. 2. For purposes of calculating royalties, in the event that a Licensed Product includes [* * *], then Net Sales of the [* * *] shall be calculated using one of the following methods: (a) [* * *]; or (b) In the event that no such [* * *] during the applicable accounting period, Net Sales for purposes of determining royalties payable hereunder shall be calculated by [* * *]. C. In the event Licensee has granted sublicenses under this Agreement, Licensee shall pay to CMCC the relevant percentage as set forth below of Sublicensee Payments: (i) [* * *] of Sublicensee Payments received by Licensee any time prior to [* * *]; and (ii) [* * *] of Sublicensee Payments received by Licensee any time after [* * *]. D. Royalty payments shall be paid in United States dollars in Boston, Massachusetts, or at such other place as CMCC may reasonably designate consistent with the laws and regulations controlling in any foreign country. If currency conversion shall be required in connection with the payments of royalties or other amounts hereunder, the conversion shall be made by using the exchange rate prevailing at Bank of America on the last business day of the calendar quarterly reporting period to which such royalty payments relate. E. Licensee shall make payment of the amounts specified in this ARTICLE IV to CMCC within forty-five (45) days after March 31, June 30, September 30 and December 31 each year during the Term of this Agreement, covering the quantity of Licensed Products sold by Licensee during the preceding calendar quarter (in the case of royalties payable under ARTICLE IV, Paragraph B) and covering the percentage of any Sublicensee Payment (as calculated in accordance with ARTICLE IV, Paragraph C) received during the preceding calendar quarter. The last such payment shall be made within forty-five (45) days after termination of this Agreement. The royalty payments set forth in this Agreement shall, if overdue, bear interest until payment at a per annum rate of two and a half percent (2.5%) above the prime rate in effect at Bank of America on the due date. The payment of such interest shall not foreclose CMCC from exercising any other rights it may have as a consequence of the lateness of any payment.

  • Bills and Other Disbursements Upon receipt of Instructions, the Custodian shall pay, or cause to be paid, all bills, statements, or other obligations of a Fund.

  • Administrative and Other Fees The Borrower agrees to pay the administrative and other fees of the Administrative Agent as provided in the Fee Letter and as may be otherwise agreed to in writing from time to time by the Borrower and the Administrative Agent.

  • Interest and other amounts Any prepayment under this Agreement shall be made together with accrued interest on the amount prepaid and, subject to any Break Costs, without premium or penalty.