Payments in Lieu Clause Samples

The Payments in Lieu clause allows one party to make a monetary payment instead of performing a specific obligation, such as providing goods, services, or other deliverables. In practice, this clause might be used if a party is unable to fulfill a contractual duty and instead compensates the other party with an agreed-upon sum. This arrangement provides flexibility in contract performance and ensures that the non-breaching party receives compensation, thereby mitigating potential losses or inconvenience caused by non-performance.
Payments in Lieu. In lieu of Annual Vacation, Reduced Work Week Leave (RWWL), Paid Holidays, Sick Leave and Health and Welfare, (excluding Pension Plan Benefits), Casual Employees shall be paid 17.58% of gross earnings on a bi-weekly basis.
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Payments in Lieu. 6.6.1 Following Canada’s acquisition of lands for a Facility, payments in lieu of taxes will be dealt with in accordance with the Payments in Lieu of Taxes Act, S.C. 2000, c.8.
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Payments in Lieu. In settlement of disagreements between the ---------------- parties as to their rights and obligations under the Contract, including but not limited to Executive's right to outplacement services, the Company will pay to Executive, promptly after the right to revoke an acceptance of this Agreement terminates, as provided in Paragraph 10 hereof, the sum of $25,000. The Company intends to make withholding and deductions in respect of this payment at the same rates as have been in effect in the case of Executive's compensation under the Contract.
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Payments in Lieu. Of-Taxes (“PILOT” Payments): The Company will make PILOT payments as set forth in the PILOT Agreement to be executed by the parties. The estimated dates when PILOT payments are to be made and the estimated amounts to be paid to each affected taxing jurisdiction, or a formula by which the amounts will be calculated, are as follows: for a term of thirty (30) years, the Company will make a fixed annual PILOT payment of $6,000 per MWAC, increasing annually by two percent (2%), after which the Project will be subject to full real property taxes.
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Payments in Lieu. In settlement of disagreements between the parties as to their rights and obligations under the Contract, including but not limited to ▇▇▇▇▇▇'▇ right to outplacement services and ▇▇▇▇▇▇'▇ right to a payment under the 1995 Management Incentive Plan for the year ended March 31, 1997, NMC will pay to ▇▇▇▇▇▇, within ten days after the date hereof, the sum of $125,000.00. Pursuant to ▇▇▇▇▇▇'▇ request, NMC will not withhold any amount in respect of taxes on such payment. NMC intends to make withholding and deductions at the same rates as have been in effect in the case of ▇▇▇▇▇▇'▇ compensation under the Contract.
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Payments in Lieu. (a) RACV is not to give an employee a payment in lieu of long service leave, or in lieu of any part of long service leave, except as provided by this clause. (b) An employee must not accept any payment in lieu of long service leave, or in lieu of any part of long service leave, except as permitted by this clause.
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Payments in Lieu. Upon payment from Tenant to Landlord, within thirty (30) days of expiration of such Termination Period, and in addition to any and all other payments provided for herein, such that the total of all payments made by Tenant to Landlord within said Termination Period is at least equal to 5 percent (5%) of ten percent (10%) of the total of all GGR from all casinos which are then in either H▇▇▇▇▇▇▇ County, Mississippi or H▇▇▇▇▇▇ County, Mississippi during said Termination Period, then the exclusivity provided for in 20.1 above shall not terminate as of the end of that Termination Period.
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Related to Payments in Lieu

  • Payments in U.S. Dollars All payments due under this Agreement shall be drawn on a United States bank and shall be payable in United States dollars. Conversion of foreign currency to U.S. dollars shall be made at the conversion rate existing in the United States (as reported in the Wall Street Journal) on the last working day of the calendar quarter of the applicable REPORTING PERIOD. Such payments shall be without deduction of exchange, collection, or other charges, and, specifically, without deduction of withholding or similar taxes or other government imposed fees or taxes, except as permitted in the definition of NET SALES.

  • Payments; Fees Agent may, in its discretion, receive and retain any amounts payable to a Defaulting Lender under the Loan Documents, and a Defaulting Lender shall be deemed to have assigned to Agent such amounts until all Obligations owing to Agent, non-Defaulting Lenders and other Secured Parties have been paid in full. Agent may apply such amounts to the Defaulting Lender’s defaulted obligations, use the funds to Cash Collateralize such Lender’s Fronting Exposure, or readvance the amounts to Borrowers hereunder. A Lender shall not be entitled to receive any fees accruing hereunder during the period in which it is a Defaulting Lender, and the unfunded portion of its Commitment shall be disregarded for purposes of calculating the unused line fee under Section 3.2.1. If any LC Obligations owing to a Defaulted Lender are reallocated to other Lenders, fees attributable to such LC Obligations under Section 3.2.2 shall be paid to such Lenders. Agent shall be paid all fees attributable to LC Obligations that are not reallocated.

  • Payments to Company Except as provided in Section 3 hereof, after the Trust has become irrevocable, Company shall have no right or power to direct Trustee to return to Company or to divert to others any of the Trust assets before all payment of benefits have been made to Plan participants and their beneficiaries pursuant to the terms of the Plan.

  • Payments in Foreign Currency Except as disclosed in the Registration Statement, the Statutory Prospectus and the Prospectus, under current laws and regulations of the Cayman Islands and any political subdivision thereof, all dividends and other distributions declared and payable on the Offered Securities may be paid by the Company to the holder thereof in United States dollars or Cayman Islands dollars that may be converted into foreign currency and freely transferred out of the Cayman Islands and all such payments made to holders thereof or therein who are non-residents of the Cayman Islands will not be subject to income, withholding or other taxes under laws and regulations of the Cayman Islands or any political subdivision or taxing authority thereof or therein and will otherwise be free and clear of any other tax, duty, withholding or deduction in the Cayman Islands or any political subdivision or taxing authority thereof or therein and without the necessity of obtaining any governmental authorization in the Cayman Islands or any political subdivision or taxing authority thereof or therein. Any certificate signed by any officer or director of the Company and delivered to the Representative or counsel for the Underwriters in connection with the Offering shall be deemed a representation and warranty by the Company, as to matters covered thereby, to each Underwriter.

  • Payments Etc All payments hereunder shall be made in immediately available funds, and shall be applied first to accrued interest and then to principal; however, if an Event of Default occurs, Lender may, in its sole discretion, and in such order as it may choose, apply any payment to interest, principal and/or lawful charges and expenses then accrued. Borrower shall receive immediate credit on payments received during Lender's normal banking hours if made in cash, immediately available funds, or by debit to available balances in an account at Lender; otherwise payments shall be credited after clearance through normal banking channels. Borrower authorizes Lender to charge any account of Borrower maintained with Lender for any amounts of principal, interest, taxes, duties, or other charges or amounts due or payable hereunder, with the amount of such payment subject to availability of collected balances in Lender's discretion; unless Borrower instructs otherwise, all Loans shall be credited to an account(s) of Borrower with Lender. LENDER AT ITS OPTION MAY MAKE LOANS HEREUNDER UPON TELEPHONIC INSTRUCTIONS AND IN SO DOING SHALL BE FULLY ENTITLED TO RELY SOLELY UPON INSTRUCTIONS, INCLUDING WITHOUT LIMITATION INSTRUCTIONS TO MAKE TRANSFERS TO THIRD PARTIES, REASONABLY BELIEVED BY LENDER TO HAVE BEEN GIVEN BY AN AUTHORIZED PERSON, WITHOUT INDEPENDENT INQUIRY OF ANY TYPE. All payments shall be made without deduction for or on account of any present or future taxes, duties or other charges levied or imposed on this Note or the proceeds. Lender or Borrower by any government or political subdivision thereof. Borrower shall upon request of Lender pay all such taxes, duties or other charges in addition to principal and interest, including without limitation all documentary stamp and intangible taxes, but excluding income taxes based solely on Lender's income.