Notification; Payment Clause Samples

The "Notification; Payment" clause establishes the procedures and requirements for providing formal notice regarding payments and the process for making those payments under the agreement. Typically, this clause outlines how and when payment notifications must be delivered, the acceptable methods of payment, and any deadlines or conditions that must be met for payments to be considered valid. For example, it may specify that invoices must be sent to a designated address and that payments are due within a certain number of days after receipt. The core function of this clause is to ensure both parties have a clear understanding of their obligations related to payment, reducing the risk of disputes or missed payments by setting out transparent and enforceable processes.
Notification; Payment. Servier shall promptly notify MacroGenics in writing of the first achievement of each of the milestones under this Section 9.3 (other than milestones under Section 9.3.1) and the corresponding milestone payment shall be due within *** after receipt of the corresponding invoice from MacroGenics.
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Notification; Payment. Kolltan shall notify MedImmune in writing promptly, and in no event beyond [**] days, after a milestone event described in Section 6.2.1 has been achieved, and the corresponding milestone payment shall be due within [**] days after receipt of the corresponding invoice from MedImmune.
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Notification; Payment. Gilead shall promptly notify MacroGenics in writing of the first achievement of each of the milestones under this Section 8.3 and the corresponding milestone payment shall be due within *** after receipt of the corresponding invoice from MacroGenics.
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Notification; Payment. For clarity, each of the foregoing payments is payable a maximum of one (1) time only, even if the corresponding milestone event is achieved more than once. Further, for the avoidance of doubt, in no event shall Rigel be entitled to receive from ATI more than $80,000,000, payable in accordance with this Section 4.2. ATI shall notify Rigel in writing, within five (5) Business Days of the first occurrence of each of the milestone events in this Section 4.2. The corresponding milestone payment shall be due within [***] after the occurrence of the applicable milestone event or, in the case of milestone payments due for [***],[***] from ATI’s receipt of [***].
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Notification; Payment. (a) UpREIT shall notify Prime orally and in writing of as soon as possible of its receipt of any oral or written notification or written certificate described in Section 4 of each of the Hadesman Tax Indemnity Agreement or the ▇▇▇▇▇ Tax Indemnity Agreement. (b) UpREIT agrees to act in good faith to claim any tax benefits (including filing claims for refunds and amended tax returns) and take such other actions as may be reasonable to minimize the net amount of any indemnity payment due from Prime hereunder and to maximize the amount of its tax savings; PROVIDED, HOWEVER, that UpREIT shall not be required to take any action which, in its good faith judgment, would have any material adverse business consequences to it or to Prime Group Realty Trust. Prime shall have the right to timely and comprehensively review any computation of any Indemnity Payment received or prepared by UpREIT or the independent accounting firm described in Section 4 of each Tax Indemnity Agreement. (c) Any payment due to UpREIT pursuant to this Section 2 shall be paid upon the time an Indemnity Payment is due under the respective Tax Indemnity Agreement.
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Notification; Payment. (i) Purchaser shall notify Seller in writing of the achievement of a Milestone within forty-five (45) days after such occurrence (the “Notification Date”). If the Notification Date occurs prior to the initial public offering of the Purchaser Common Stock, then (A) such notice shall be accompanied by copies of (x) Purchaser’s financial statements for the most recent fiscal quarter and fiscal year and (y) the most recent investor deck and other similar marketing materials provided to investors and prospective investors of Purchaser and (B) if requested by Seller, Purchaser shall make its Chief Financial Officer available for a meeting (by videoconference or in Purchaser’s offices) to address Seller’s questions regarding such materials and such other information concerning the Purchaser and its business, operations and financial condition as Seller may reasonably request to discuss, at such time and date as shall be mutually agreed upon by Purchaser and Seller. (ii) Thereafter, Purchaser and Seller will negotiate in good faith to agree upon the proportion of each Milestone Payment to be paid in cash versus shares of Purchaser Common Stock. If no agreement is reached by Purchaser and Seller within thirty (30) days after the Notification Date, fifty percent (50%) of such Milestone Payment shall be paid in cash and fifty percent (50%) of such Milestone Payment shall be paid in Purchaser Common Stock, unless Purchaser elects in its sole discretion to pay one hundred percent (100%) of such Milestone Payment in cash. (iii) Purchaser shall pay or cause to be paid (x) the cash portion, if any, of the applicable Milestone Payment to Seller within ten (10) Business Days after the determination of the proportion of the applicable Milestone Payment to be paid in cash versus shares of Purchaser Common Stock in accordance with Section 1.7(e)(ii), and (y) the stock portion, if any, of the applicable Milestone Payment to Seller within thirty (30) calendar days after the determination of the proportion of the applicable Milestone Payment to be paid in cash versus shares of Purchaser Common Stock in accordance with Section 1.7(e)(ii). The cash portion, if any, of any such Milestone Payment shall be paid by wire transfer of readily available funds to a bank account or bank accounts designated in writing by Seller. The stock portion, if any, shall be paid by the issuance to Seller of a number of shares of Purchaser Common Stock equal to (A) the applicable Milestone Payment, divi...
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Notification; Payment. Servier shall promptly notify MacroGenics in writing of the first achievement of each of the milestones under this Section 9.3 (other than milestones under Section 9.3.1) and the corresponding milestone payment shall be due within *** after receipt of the corresponding invoice from MacroGenics. *** = Portions of this exhibit have been omitted pursuant to a request for confidential treatment. An unredacted version of this exhibit has been filed separately with the Commission.
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Related to Notification; Payment

  • Notification of Non-payment The Global Agent shall forthwith notify Freddie Mac by facsimile, e-mail or other rapid means of communication if it has not received the full amount for any payment due in respect of the Notes on the date such payment is due. The Global Agent shall have no liability, responsibility, duty or obligation to any Holder or beneficial owner of Notes to take any action against Issuer in the event that Issuer fails to make available funds sufficient to pay amounts due and payable and owing to any Holder on any Payment Date. The Global Agent shall give issuance instructions to DTC in accordance with DTC’s procedures.

  • Termination Payment The final payment delivered to the Certificateholders on the Termination Date pursuant to the procedures set forth in Section 9.01(b).

  • Consideration Payment The consideration paid to Contractor is the entire compensation for all Work performed under this Agreement, including all of Contractor's approved reimbursable expenses incurred, such as travel and per diem expenses, unless otherwise expressly provided, as set forth in Exhibit 8 (Fees, Pricing and Payment Terms).

  • Down Payment The Mortgagor has contributed at least 5% of the purchase price for the Mortgaged Property with his/her own funds.

  • Retention Payment Payment of the Retention amount will be made in accordance with Public Contract Code Section 7107. If the Retention Payment is made before D-BE has complied with all of its obligations under the Contract, then payment of Retention shall not be interpreted as Final Payment and shall not relieve D-BE of its obligations under the Final Payment provisions.