Payment of Deferred Amount Sample Clauses
The 'Payment of Deferred Amount' clause establishes the obligation and conditions under which a party must pay amounts that have been postponed or delayed from their original due date. Typically, this clause outlines the timing, method, and any interest or penalties associated with the deferred payment, and may specify triggers or events that require the deferred sum to be paid, such as the completion of certain milestones or the passage of a set period. Its core practical function is to provide clarity and structure for handling delayed payments, ensuring both parties understand when and how deferred amounts will be settled, thereby reducing disputes and managing cash flow expectations.
Payment of Deferred Amount. If it is reasonably determined that Deferred Amounts are due to Sellers, Buyer shall make all such payments fully and when due.
Payment of Deferred Amount. At Closing, Buyer shall deliver to the Member, in payment of the portion of the Purchase Price represented by the Deferred Amount, a promissory note made and duly executed by the Company in the principal amount of Ten Million Dollars ($10,000,000.00) (the “Deferred Amount Note”), which note shall be in the form of Exhibit D-1 attached hereto and guaranteed by Buyer pursuant to a Guaranty in the form of Exhibit D-2 attached hereto(the “Buyer Guaranty”).
Payment of Deferred Amount. The vested portion of the Deferred Amount, after any adjustment pursuant to Section 4(c) above, shall be payable to the Executive (or the Executive's beneficiaries or estate) in a lump sum payment within 30 days after the Date of Termination.
Payment of Deferred Amount. Each June 30 and December 31 beginning in 2018, HTG shall determine, in accordance with U.S. generally accepted accounting principles (“GAAP”), its operating profit as defined under GAAP (but not including accrued, unpaid Deferred Amount) in the trailing 12 month period. If such operating profit is $1,000,000 or more, or no later than June 30, 2020 in any event, then 50% of the Deferred Amounts, together with 50% of the accrued interest on the Deferred Amount, shall be payable to Seller within 15 business days thereafter, and the balance of the unpaid Deferred Amounts and interest thereon shall be payable within one hundred eighty (180) days thereafter. Each payment of interest on the Deferred Amounts shall be payable, at Seller’s option, either in cash or by issuance of a 5-year warrant to purchase the number of shares of HTG common stock equal to payment amount divided by $1, at an exercise price of $1 per share. HTG’s payment of the Deferred Amount and interest thereon shall be in addition to and not in lieu of the Minimum Payments or Percentage Amounts payable in accordance with the terms of the Agreement after January 1, 2018. Upon payment in full of the Deferred Amounts, all obligations of HTG under this paragraph shall terminate. For each calendar year during which the Deferred Amount or any portion thereof remains unpaid and outstanding, HTG shall, with reasonable advance written notice and during normal business hours, permit Seller to audit HTG’s books and records to the extent necessary to determine whether HTG’s operating profit was $1,000,000 or Amended and Restated Third Amendment to Asset Purchase Agreement Nuvogen, ▇▇▇▇, ▇▇▇▇▇▇/HTG Page 2 of 4 CONFIDENTIAL more for such 12-month trailing period. Seller shall treat information to which it has access for audit purposes as Confidential Information under Section 6.1 of the Agreement.
Payment of Deferred Amount. Upon Owner’s request to City’s Building Division that the first utility inspection be conducted, the then-current PFF amount will be calculated to arrive at an adjusted total Deferred PFF Amount. Prior to the release of electrical services for the Project and/or Real Property, Owner will submit payment of the total adjusted Deferred PFF Amount to City, and said payment must have cleared the applicable financial institution for deposit into the City’s account.
Payment of Deferred Amount. (a) Date Certain. The amount credited to Executive's Account shall be paid to Executive in a single lump-sum amount on August 6, 2005.
Payment of Deferred Amount. (i) On or prior to the Closing Date, MSGI, Merger-Sub and the Stockholders' Representative will execute and deliver the Holdback Agreement substantially in the form of Exhibit A hereto. MSGI shall pay the Per Share Deferred Payments to the ▇▇▇▇▇▇▇▇ Stockholders at the times and subject to the terms and conditions of the Holdback Agreement. At the Closing, MSGI will deliver to the Stockholders' Representative a standby letter of credit substantially in the form of Appendix I to the Holdback Agreement (the "Standby Letter of Credit") issued by a nationally recognized financial institution acceptable to the Stockholders' Representative in an amount equal to $5,000,000 (the "Initial Deferred Amount") plus interest thereon at the Interest Rate, for a three (3) year period commencing on the Closing Date, which Standby Letter of Credit will secure the obligation of MSGI to make payments to the ▇▇▇▇▇▇▇▇ Stockholders as provided in the Holdback Agreement.
Payment of Deferred Amount. The manner and time of distribution of Account Balance shall be determined by the Committee at its sole discretion. . The Account Balance may be paid after the Director ceases to serve as a Director, within thirty (30) days after the Director’s written request for payment is delivered to the President of the Company. The Account Balance shall be paid to the beneficiary or beneficiaries designated by the Director within thirty (30) days after the death of the Director. If no beneficiary has been designated by the Director, such payment shall be made to the Director’s estate.
Payment of Deferred Amount