Payment of the Success Fee Clause Samples

The "Payment of the Success Fee" clause defines the obligation of one party to pay a specified fee to another party upon the successful completion of a particular event or achievement, such as closing a deal or reaching a project milestone. Typically, this clause outlines the conditions that trigger the payment, the amount or calculation method of the fee, and the timeline for payment after the success criteria are met. Its core practical function is to incentivize performance and ensure that compensation is clearly tied to measurable results, thereby aligning the interests of the parties and reducing disputes over when and how the fee should be paid.
Payment of the Success Fee. Notwithstanding anything to the contrary herein, payment of the Success Fee shall be conditional upon the closing of the transactions contemplated by the Business Combination Agreement to be concluded by and among the SPAC, FCB, BP, as defined by such Business Combination Agreement (the “Closing”). Payment of the Success Fee shall be made by the SPAC or the parent company of which any shareholders of the SPAC or BP will be shareholders as of the Closing (the “Combined Entity”) to Purchaser within ten (10) Business Days following the Closing by wire transfer of immediately available funds to an account to be designated by Purchaser.
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Payment of the Success Fee. The Success Fee shall be payable in (a) cash or (b) in a combination of cash and Common Stock in the Company (or any successor), at the sole option of Employee. If Employee elects to be paid the Success Fee in cash only, the Company shall have the option to pay the Success Fee in four equal quarterly installments. If the Company elects to pay a cash Success Fee in quarterly installments, the first installment shall be due and payable on the date the Restructuring Event is consummated and each successive installment shall be due and payable on the date that is 90 days from the date on which the previous installment payment was due.
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Related to Payment of the Success Fee

  • Expense Accrual and Payment Services (1) For each valuation date, calculate the expense accrual amounts as directed by the Trust as to methodology, rate or dollar amount. (2) Process and record payments for Fund expenses upon receipt of written authorization from the Trust. (3) Account for Fund expenditures and maintain expense accrual balances at the level of accounting detail, as agreed upon by USBFS and the Trust. (4) Provide expense accrual and payment reporting.

  • Computation and Payment of Fee The advisory fee shall accrue on each calendar day, and shall be payable monthly on the first business day of the next succeeding calendar month. The daily fee accruals shall be computed by multiplying the fraction of one divided by the number of days in the calendar year by the annual advisory fee rate, and multiplying this product by the Managed Assets of the Fund, determined in the manner established by the Directors, as of the close of business on the last preceding business day on which the Fund's net asset value was determined.

  • Compensation and Payment 3.1 Consultant’s fees shall be calculated at the rates set forth in the attached Exhibit A. The Maximum Compensation for the performance of Services within the Scope of Services described in Exhibit A is ten thousand five hundred eighty-five dollars and no/100 ($10,585.00) as set forth in Exhibit A. In no case shall the amount paid by County under this Agreement exceed the Maximum Compensation without a written agreement executed by the parties. 3.2 All performance of the Scope of Services by Consultant including any changes in the Scope of Services and revision of work satisfactorily performed will be performed only when approved in advance and authorized by County. 3.3 County will pay Consultant based on the following procedures: Upon completion of the tasks identified in the Scope of Services, Consultant shall submit to County staff person designated by the County Engineer, one (1) electronic (pdf) copy of the invoice showing the amounts due for services performed in a form acceptable to County. County shall review such invoices and approve them within 30 calendar days with such modifications as are consistent with this Agreement and forward same to the Auditor for processing. County shall pay each such approved invoice within thirty (30) calendar days. County reserves the right to withhold payment pending verification of satisfactory work performed.

  • Compensation and Payment Terms (a) S&C’s fees for the Services shall be calculated at the rate(s) set forth in Exhibit “A” attached hereto. The Maximum Compensation to S&C for the Services performed under this Agreement is One Hundred Two Thousand Five Hundred and 00/100 Dollars ($102,500.00).In no event shall the amount paid by County to S&C under this Agreement exceed said Maximum Compensation without an approved change order. (b) S&C understands and agrees that the Maximum Compensation stated is an all- inclusive amount and no additional fee, cost or reimbursed expense shall be added whatsoever to the fees stated in the attached Exhibit “A.” (c) County will pay S&C based on the following procedures: Upon completion of the tasks identified in the Scope of Services, S&C shall submit to County staff person designated by the Facilities Management and Planning Director, one (1) electronic (pdf) copy of the invoice showing the amounts due for services performed in a form acceptable to County. County shall review such invoices and approve them within 30 calendar days with such modifications as are consistent with this Agreement and forward same to the Auditor for processing. County shall pay each such approved invoice within thirty (30) calendar days. (d) Accrual and payment of interest on overdue payments shall be governed by Chapter 2251 of the Texas Government Code. (e) S&C understands and agrees that County’s obligation to make any payment(s) hereunder is dependent upon S&C’s completion of the Services in a timely, good, and professional manner and in accordance with the performance representations made in Section 25 of this Agreement. Therefore, County reserves the right to withhold payment pending verification of satisfactory work performed.

  • Calculation and Payment of Additional Rent Tenant shall pay to Landlord, in the manner set forth in Section 4.4.1, below, and as Additional Rent, Tenant’s Share of Direct Expenses for each Expense Year.