Guaranteed Payment Sample Clauses

Guaranteed Payment. In the event the Company is liquidated or the Company exercises its redemption option pursuant to Section 6.17 hereof and, as of such date, (A) the cumulative Preferred Return as to a Preferred Unit Holder exceeds (B) the amount by which the cumulative Profits allocated to such Preferred Unit Holder pursuant to Section 3.1(c) exceeds the cumulative Losses allocated to such Preferred Unit Holder pursuant to Section 3.2(b), then the portion of the Redemption Price payable pursuant to Section 6.17 or the portion of the liquidation amount payable pursuant to Section 10.2(b) equal to the difference of (A) over (B) shall be paid to such Preferred Unit Holder as a payment for the use of such Preferred Unit Holder’s capital. Amounts paid pursuant to this Section 4.4 are intended to constitute guaranteed payments within the meaning of Section 707(c) of the Code.

Guaranteed Payment. The above Management Fees and Technical Manager Fees in Section 9.3(a), the Incentive Bonus in Section 9.3(b) and the Bonus Payment in Section 9.5 will be treated as a “guaranteed payment” to the Managing Member under Section 707(c) of the Code.

Guaranteed Payment. (a) The Company shall make a Guaranteed Payment to the Managing Member, within the meaning of Section 707(c) of the Code, for the use of capital contributed to the Company by the Managing Member, in an amount equal to One Million Dollars ($1,000,000) per annum, for the period between the date hereof and the fifth anniversary hereof for a total of Five Million Dollars ($5,000,000). (b) If any Guaranteed Payment is not paid on the due date thereof (other than by reason of the Managing Member's failure to cause the Company to pay it notwithstanding the availability of sufficient funds therefor), the amount of such Guaranteed Payment shall accrue interest at the prime rate of interest charged by Bank of America, N.A. to its most creditworthy customers, compounded annually, from the due date thereof to the date same is actually paid. (c) All payments required under this Section 3.8 shall be made in dollars by wire transfer of federal funds to an account designated by the Managing Member or by certified or official bank check or checks in New York Clearing House or similar next day funds payable to the order of the Managing Member. (d) If the Managing Member shall cease to be the Managing Member under this Agreement, then, from and after the date of such cessation, the Guaranteed Payment shall cease accruing to the Managing Member hereunder.

Guaranteed Payment. Department will guarantee payment for a minimum of fifty (50) offenders per day, per month at the Warm Springs facility, regardless of the actual number of offenders in the facility.

Guaranteed Payment. A payment that is due whether or not the Annuitant, or Joint Annuitant, if applicable, is alive on the payment due date, as described in the Schedule of Benefits on the Specifications page.

Guaranteed Payment. Department will guarantee payment for a minimum of thirty

Guaranteed Payment. In the event of a Change of Control of the Company, the Company will pay to Executive a bonus payable in cash or Company Common Stock, as determined by the Board in its sole and absolute discretion, in an amount, if any, equal to $1,000,000 less the amount by which the "Fair Market Value" (as defined in the Option Plan) of the shares of the Company's Common Stock subject to the Options exceeds the aggregate exercise price of the shares of the Company's Common Stock subject to such Options, provided in no event shall the amount payable to Executive exceed $1,000,000. In the event Executive has exercised an Option but has not disposed of such exercised shares on the effective date of a Change of Control, such shares shall be considered to still be subject to the Option from which they were issued for purposes of determining the bonus amount. Additionally, in the event Executive has exercised an Option and sold or otherwise disposed of such exercised shares, the bonus amount shall be reduced by the greater of (i) the difference between the sale price received by Executive for such shares less the exercise price of such shares; provided, however, that if Executive gifts any exercised shares or otherwise disposes of such shares for consideration less than the Fair Market Value of such shares on the date of disposition, then the shares shall be deemed to have been disposed of for the Fair Market Value of such shares on the date of such disposition, or (ii) the difference between the Fair Market Value of such shares on the effective date of a Change of Control less the exercise price of such shares.

Guaranteed Payment. In addition, for each calendar year during the Employment Period commencing with 2015, the Founder shall receive a guaranteed annual payment of One Million Three Hundred Thousand Dollars ($1,300,000) (the “Guaranteed Payment”), pro rated for partial years of employment during the Employment Period. The Guaranteed Payment shall be paid at the same time as Base Compensation is paid and shall be subject to all applicable income and employment tax withholding.

Guaranteed Payment. The undersigned unconditionally guarantees to Management the full and timely performance of all of Tenant's covenants, conditions, and agreements in the Lease, including without limitation the payment of Rent, late fees, property damage, repair costs, animal violation fines or other fines, utility charges, and all other amounts which may become due under the Lease. In addition, the undersigned expressly agrees that the validity of the Guaranty of the Lease and the obligations of the undersigned shall not be terminated, affected, or impaired by reason of (i) any forbearance, receipt or release of security, settlement or compromises between Management and Tenant,