Determination of Amounts Payable Sample Clauses

The 'Determination of Amounts Payable' clause defines the process and criteria for calculating the sums that one party owes to another under the contract. Typically, this clause outlines the methods for assessing amounts due, such as referencing invoices, agreed rates, or specific milestones, and may specify who is responsible for making the calculation and when payments are to be made. Its core function is to ensure transparency and consistency in financial transactions between the parties, reducing the risk of disputes over payment amounts.
Determination of Amounts Payable. Not later than 12:00 noon (New York City time) on the first (1st) Business Day prior to the Record Date for each Payment Date, the Issuer shall determine, and provide notice to the Trustee and the Paying Agent of, and promptly thereafter disclose on its website (which shall be publicly accessible): (i) with respect to each series of Notes, the amount of interest that will be accrued but unpaid through the last day of the Interest Period ending on the date immediately preceding such Payment Date; and (ii) the excess, if any, as of the last day of the immediately preceding Fiscal Quarter, of the Interest Reserve Account Balance over the Interest Reserve Amount (the “Excess Interest Reserve Account Balance”); (iii) the Excess Cash Redemption Amount, if any, payable on such Payment Date; and (iv) with respect to each series of Notes, the amount in redemption of principal, if any, in the aggregate and per $1.00 of Outstanding Principal Balance of the respective series, payable on such Payment Date. A calculation of the amounts set forth in clause (iv) shall be in the form of Appendix D, shall be provided to the Trustee, the Paying agent and shall be posted on the Issuer’s website (which shall be publicly accessible).
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Determination of Amounts Payable. Payment Date: ___________
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Determination of Amounts Payable. (a) On each Determination Date, the Ceding Company shall calculate the amount of each Obligor Excess Loss, if any, associated with each Obligor in the Ceding Company's total portfolio of insured Obligors. The Ceding Company shall then compute the sum of all Obligor Excess Losses (such sum being referred to herein as the "Liability Amount"). If there are no Obligor Excess Losses as of any Determination Date, the Liability Amount shall equal zero (0). (b) For each Determination Date other than the first Determination Date, the Ceding Company shall calculate an amount (the "Incremental Liability Amount") equal to (a) the Liability Amount for the current Determination Date minus (b) the Liability Amount for the prior Determination Date. If the Incremental Liability Amount is a positive number, the Reinsurer shall owe the Ceding Company an amount equal to such Incremental Liability Amount (such amount owed by the Reinsurer to the Ceding Company being referred to herein as an "XLI Incremental Liability Payment"). If the Incremental Liability Amount is a negative number, the Ceding Company shall owe the Reinsurer an amount equal to the lesser of (a) the absolute value of the Incremental Liability Amount and (b) the total of all unreimbursed Liability Amounts and XLI Incremental Liability Payments (such amount owed by the Ceding Company to the Reinsurer being referred to herein as an "XLFA Incremental Liability Payment"). (c) Within ten (10) Business Days following each Determination Date, the Ceding Company shall advise the Reinsurer of its calculations pursuant to paragraphs (a) and (b) of this Section, which shall be reflected on the Bordereaux required under Section 6.2.
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Related to Determination of Amounts Payable

  • Determination of Amount In lieu of the payment of the Exercise Price multiplied by the number of Units for which this Purchase Option is exercisable (and in lieu of being entitled to receive Common Stock and Warrants) in the manner required by Section 2.1, the Holder shall have the right (but not the obligation) to convert any exercisable but unexercised portion of this Purchase Option into Units ("Conversion Right") as follows: upon exercise of the Conversion Right, the Company shall deliver to the Holder (without payment by the Holder of any of the Exercise Price in cash) that number of shares of Common Stock and Warrants comprising that number of Units equal to the quotient obtained by dividing (x) the "Value" (as defined below) of the portion of the Purchase Option being converted by (y) the Current Market Value (as defined below). The "Value" of the portion of the Purchase Option being converted shall equal the remainder derived from subtracting (a) (i) the Exercise Price multiplied by (ii) the number of Units underlying the portion of this Purchase Option being converted from (b) the Current Market Value of a Unit multiplied by the number of Units underlying the portion of the Purchase Option being converted. As used herein, the term "Current Market Value" per Unit at any date means the remainder derived from subtracting (x) the exercise price of the Warrants multiplied by the number of shares of Common Stock issuable upon exercise of the Warrants underlying one Unit from (y) the Current Market Price of the Common Stock multiplied by the number of shares of Common Stock underlying the Warrants and the Common Stock issuable upon exercise of one Unit. The "Current Market Price" of a share of Common Stock shall mean (i) if the Common Stock is listed on a national securities exchange or quoted on the Nasdaq National Market, Nasdaq SmallCap Market or NASD OTC Bulletin Board (or successor such as the Bulletin Board Exchange), the last sale price of the Common Stock in the principal trading market for the Common Stock as reported by the exchange, Nasdaq or the NASD, as the case may be; (ii) if the Common Stock is not listed on a national securities exchange or quoted on the Nasdaq National Market, Nasdaq SmallCap Market or the NASD OTC Bulletin Board (or successor such as the Bulletin Board Exchange), but is traded in the residual over-the-counter market, the closing bid price for the Common Stock on the last trading day preceding the date in question for which such quotations are reported by the Pink Sheets, LLC or similar publisher of such quotations; and (iii) if the fair market value of the Common Stock cannot be determined pursuant to clause (i) or (ii) above, such price as the Board of Directors of the Company shall determine, in good faith.

  • Calculation of Amounts Binding Effect of Interpretations and Actions of Master Servicer...............................

  • Computation of Amounts For purposes of computing the amount of any item of income, gain, loss, deduction or expense to be reflected in Capital Accounts, the determination, recognition and classification of each such item shall be the same as its determination, recognition and classification for federal income tax purposes; provided that: (i) any income that is exempt from Federal income tax shall be added to such taxable income or losses; (ii) any expenditures of the Company described in Section 705(a)(2)(B) of the Code or treated as Code Section 705(a)(2)(B) expenditures pursuant to Treasury Regulation Section 1.704-1(b)(2)(iv)(i), shall be subtracted from such taxable income or losses; (iii) if the Book Value of any Company property is adjusted pursuant to Treasury Regulation Section 1.704-1(b)(2)(iv)(e) (in connection with a distribution of such property) or (f) (in connection with a revaluation of Capital Accounts), the amount of such adjustment shall be taken into account as gain or loss from the disposition of such property; (iv) if property that is reflected on the books of the Company has a Book Value that differs from the adjusted tax basis of such property, depreciation, amortization and gain or loss with respect to such property shall be determined by reference to such Book Value; and (v) the computation of all items of income, gain, loss, deduction and expense shall be made without regard to any election pursuant to Section 754 of the Code that may be made by the Company, unless the adjustment to basis of Company property pursuant to such election is reflected in Capital Accounts pursuant to Treasury Regulation Section 1.704-1(b)(2)(iv)(m).

  • Determination of Gross-Up Payment Subject to sub-paragraph (c) below, all determinations required to be made under this Section 6, including whether a Gross-Up Payment is required and the amount of the Gross-Up Payment, shall be made by the firm of independent public accountants selected by the Company to audit its financial statements for the year immediately preceding the Change in Control (the "Accounting Firm") which shall provide detailed supporting calculations to the Company and the Executive within 30 days after the date of the Executive's termination of employment. In the event that the Accounting Firm is serving as accountant or auditor for the individual, entity or group affecting the Change of Control, the Executive may appoint another nationally recognized accounting firm to make the determinations required under this Section 6 (which accounting firm shall then be referred to as the "Accounting Firm"). All fees and expenses of the Accounting Firm in connection with the work it performs pursuant to this Section 6 shall be promptly paid by the Company. Any Gross-Up Payment shall be paid by the Company to the Executive within 5 days of the receipt of the Accounting Firm's determination. If the Accounting Firm determines that no Excise Tax is payable by the Executive, it shall furnish the Executive with a written opinion that failure to report the Excise Tax on the Executive's applicable federal income tax return would not result in the imposition of a penalty. Any determination by the Accounting Firm shall be binding upon the Company and the Executive. As a result of the uncertainty in the application of Section 4999 of the Code at the time of the initial determination by the Accounting Firm, it is possible that Gross-Up Payments which will not have been made by the Company should have been made ("Underpayment"). In the event that the Company exhausts its remedies pursuant to sub-paragraph (c) below, and the Executive is thereafter required to make a payment of Excise Tax, the Accounting Firm shall promptly determine the amount of the Underpayment that has occurred and any such Underpayment shall be paid by the Company to the Executive within 5 days after such determination. Amended and Restated Change in Control Agreement

  • Certification of amounts A notice which is signed by 2 officers of a Creditor Party, which states that a specified amount, or aggregate amount, is due to that Creditor Party under this Clause 21 and which indicates (without necessarily specifying a detailed breakdown) the matters in respect of which the amount, or aggregate amount, is due shall be prima facie evidence that the amount, or aggregate amount, is due.