Obligation to Make Payment Clause Samples

The Obligation to Make Payment clause establishes the requirement for one party to pay another party under the terms of an agreement. Typically, this clause specifies the amount due, the payment schedule, and acceptable methods of payment, ensuring both parties understand when and how payments must be made. By clearly outlining payment responsibilities, this clause helps prevent disputes over financial obligations and ensures timely fulfillment of contractual commitments.
POPULAR SAMPLE Copied 1 times
Obligation to Make Payment. Nothing contained in this Section 8 shall relieve any Party of the obligation to make payments when due pursuant to this Agreement.
View SourceView Similar (2)
Obligation to Make Payment. Nothing contained in this Article X shall relieve any Party of the obligation to make payments when due pursuant to this Agreement.
View SourceView Similar (2)
Obligation to Make Payment. Notwithstanding Paragraph 2 hereof, Wilshire agrees that to the extent that the realizable value of the Promissory Note at the time of the transfer from Resource Company to RLP or RMRF (the “Realizable Value”) is less than the Face Value, Wilshire will immediately pay to RLP or RMRF, as the case may be, the difference between the Face Value and the Actual Value.
View Source
Obligation to Make Payment. This provision replaces Section 3.1(c) of the Agreement: Except as explicitly and minimally required under applicable legislation, no Subsidiary (including, but not limited to, the Employer) has any obligation to make any payment of any kind to Participant under this Agreement; Exclusion from Compensation or Salary. This provision replaces Section 3.1(i) of the Agreement: Except as explicitly and minimally required under applicable legislation, the Performance Shares and any Shares acquired under the Plan, and the income from and value of same, are not part of normal or expected compensation for any purposes, including but not limited to, calculating any severance, resignation, termination, redundancy, dismissal, end of service payments, bonuses, long-service awards, holiday pay, pension or retirement benefits, welfare benefits or other similar payments;
View Source
Obligation to Make Payment. If OEB has given notice to exercise the Call Option pursuant to Clause 2.2 of this Agreement, OEB shall, pursuant to the terms of this Agreement, pay to the Issuer an amount equal to the outstanding principal amount of the Notes plus interest and other amounts (if any) accrued to, but excluding, the Optional Redemption Date two Business Days prior to the relevant Optional Redemption Date in respect of which such option is to be exercised.
View Source
Obligation to Make Payment. CLIENT shall make timely payment of compensation, including fees and reimbursable expenses, to ENGINEER for the Services.
View Source
Obligation to Make Payment. Except as provided in Section 4.4.2, Minnesota Power shall make all payments that are required pursuant to the terms of this Agreement at such time or times herein provided for such payments, notwithstanding (i) the non-performance by Square Butte of any of its obligations herein or in the Joint Operating Agreement, whether due to Uncontrollable Forces or otherwise; (ii) the failure, inoperativeness or suspension, interruption or interference of the operation of Unit #2 or the Transmission Facilities; (iii) the failure to make available to Minnesota Power Net Capability or Alternate Capacity or to deliver to Minnesota Power Energy or Alternate Energy (except as provided in Section 4.4.2); (iv) the invalidity or unenforceability or lack of due authorization of this Agreement; or (v) any other matter or event whatsoever, including without limitation the bankruptcy or insolvency of Square Butte or the disaffirmance of any agreement by any trustee or receiver, which might otherwise relieve Minnesota Power from the obligation to pay such amounts at such times, notwithstanding any present or future law to the contrary. Minnesota Power agrees that no such payment by Minnesota Power shall be subject to any right of set-off or counterclaim or any other defense which Minnesota Power may now or hereafter have against Square Butte. This Section 4.4.1 shall not be construed as a guarantee by Minnesota Power of any obligation of Square Butte or to release Square Butte from the performance of any of its obligations expressed in this Agreement or, except to the extent expressly provided in this Agreement, prevent or restrict Minnesota Power from asserting any rights it may have against Square Butte under this Agreement.
View Source
Obligation to Make Payment. There shall be no obligation to deliver the Closing Per Common Share Merger Consideration in respect of any Company Common Shares, or the Preferred Share Merger Consideration in respect of any Company Preferred Shares, until (and then only to the extent that) the holder thereof surrenders its certificate(s) representing Company Common Shares or Company Preferred Shares, as applicable, for exchange, together with a duly executed Letter of Transmittal as provided in Section 2.3 or, in lieu thereof, delivers to the Closing Exchange Agent an appropriate affidavit of loss and an indemnity agreement and/or a bond as may be reasonably required in any such case by Purchaser. If any payment for Company Common Shares or Company Preferred Shares is to be made or is to be issued in a name other than that in which the certificate for Company Common Shares or Company Preferred Shares surrendered for exchange is registered, it shall be a condition to the payment or issuance that the certificate so surrendered shall be properly endorsed or otherwise in proper form for transfer, that all signatures shall be guaranteed by a financial institution (including most banks, savings and loan associations and brokerage houses) which is a participant in the Securities Transfer Agents Medallion Program, the New York Stock Exchange Medallion Signature Program, or the Stock Exchange Medallion Program, and that the person requesting the payment shall either (a) pay to the Closing Exchange Agent any transfer or other taxes required by reason of the payment to a person other than the registered holder of the certificate surrendered or (b) establish to the reasonable satisfaction of the Closing Exchange Agent that such taxes have been paid or are not payable. From and after the Effective Time, there shall be no transfers on the stock transfer books of the Company of any of the Company Common Shares or Company Preferred Shares outstanding immediately prior to the Effective Time and any of such Company Common Shares or Company Preferred Shares presented to the Closing Exchange Agent shall be cancelled in exchange for the merger consideration payable as provided in Sections 2.2, 2.3 and 2.4.
View Source
Obligation to Make Payment 
View SourceView Similar (4)

Related to Obligation to Make Payment

  • Obligation to Make Payments Any Interconnection Party's obligation to make payments for services shall not be suspended by Force Majeure.

  • Obligation to Make Expense Advances Upon receipt of a written undertaking by or on behalf of the Indemnitee to repay such amounts if it shall ultimately be determined that the Indemnitee is not entitled to be indemnified therefore by the Company hereunder under applicable law, the Company shall make Expense Advances to Indemnitee.

  • Failure to Make Payment In the event a participating Authorized User fails to make payment to the Contractor for Products delivered, accepted and properly invoiced, within thirty calendar days of such delivery and acceptance, the Contractor may, upon five business days advance written notice to both the Commissioner and the Authorized User’s purchasing official, suspend additional shipments of Product or provision of services to such entity until such time as reasonable arrangements have been made and assurances given by such entity for current and future Contract payments.

  • Obligation to Issue The City has no obligation to issue any Approved Service Orders under this Master Agreement. The City may issue any number of Approved Service Orders provided that the sum of the maximum compensation of all Approved Service Orders cannot exceed the Maximum Total Compensation (defined in Subsection 10.1 below).

  • Failure to Make Payments If the Company fails to make any payment of interest on this Subordinated Note when such interest becomes due and payable and such default continues for a period of 30 days, or if the Company fails to make any payment of the principal of this Subordinated Note when such principal becomes due and payable, the Company will, upon demand of the Trustee, pay to the Trustee, for the benefit of the Holder, the whole amount then due and payable with respect to this Subordinated Note, with interest upon the overdue principal, any premium and, to the extent permitted by applicable law, upon any overdue installments of interest at the rate or respective rates, as the case may be, provided for or with respect to this Subordinated Note or, if no such rate or rates are so provided, at the rate or respective rates, as the case may be, of interest borne by this Subordinated Note. Upon an Event of Default, the Company may not declare or pay any dividends or distributions on, or redeem, purchase, acquire, or make a liquidation payment with respect to, any of the Company’s capital stock, make any payment of principal or interest or premium, if any, on or repay, repurchase or redeem any debt securities of the Company that rank equal with or junior to this Subordinated Note, or make any payments under any guarantee that ranks equal with or junior to this Subordinated Note, other than: (i) any dividends or distributions in shares of, or options, warrants or rights to subscribe for or purchase shares of, any class of Company’s common stock; (ii) any declaration of a dividend in connection with the implementation of a shareholders’ rights plan, or the issuance of stock under any such plan in the future, or the redemption or repurchase of any such rights pursuant thereto; (iii) as a result of a reclassification of Company’s capital stock or the exchange or conversion of one class or series of Company’s capital stock for another class or series of Company’s capital stock; (iv) the purchase of fractional interests in shares of Company’s capital stock in accordance with the conversion or exchange provisions of such capital stock or the security being converted or exchanged; or (v) purchases of any class of Company’s common stock related to the issuance of common stock or rights under any benefit plans for Company’s directors, officers or employees or any of Company’s dividend reinvestment plans.