Preferred Payment Sample Clauses

The Preferred Payment clause establishes the method or order in which payments are to be made under a contract. Typically, it specifies a particular payment method, such as electronic transfer, or prioritizes certain payees or obligations over others. For example, it may require that payments to a primary supplier are made before any secondary vendors are paid. This clause ensures that payment processes are clear and prioritized, reducing disputes and delays by setting expectations for how and when payments will be executed.
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Preferred Payment. 4.1 The Parties acknowledge and agree that the Sellers shall be entitled to preferred payments from any dividends distributed by the Company in an aggregate amount equal to EUR 12,150,000 (in words: twelve million one hundred fifty thousand euro) (the Preferred Payment), on the terms and subject to the conditions of this Clause 4 and the provisions of clause 2.3 of the Shareholders’ Agreement. 4.2 The Preferred Payment will be paid to the Sellers in the following minimum installments (each, an Installment), unless the Purchaser, in its sole discretion, elects to accelerate the Preferred Payment in whole or in part: (a) an amount of EUR 1,350,000 (in words: one million three hundred fifty thousand euro) within five (5) Business Days after the Annual Accounts in respect of the financial year 2015 have been adopted; (b) an amount of EUR 2,700,000 (in words: two million seven hundred thousand euro) within five (5) Business Days after the Annual Accounts in respect of the financial year 2016 have been adopted; (c) an amount of EUR 2,700,000 (in words: two million seven hundred thousand euro) within five (5) Business Days after the Annual Accounts in respect of the financial year 2017 have been adopted; (d) an amount of EUR 2,700,000 (in words: two million seven hundred thousand euro) within five (5) Business Days after the Annual Accounts in respect of the financial year 2018 have been adopted; (e) an initial amount of EUR 2,700,000 (in words: two million seven hundred thousand euro), which shall be reduced by an amount equal to the Estimated Base Purchase Price Adjustment, in accordance with the provisions of Clause 3.3.2, and adjusted by an amount equal to the Difference (if any), in accordance with the provisions of Clause 3.3.10, within five (5) Business Days after the Annual Accounts in respect of the financial year 2019 have been adopted. The Parties hereby acknowledge and agree that the Preferred Payment and the Installments as set out in this Clause 4.2 shall, to the extent possible, be set off against the dividend distributions on the Prefs B, all as further set out in Clause 4.5(a). 4.3 The Preferred Payment will be paid to the Sellers, on the terms and subject to the conditions of this Clause 4, in the following order: (i) fifty per cent. (50%) of the Preferred Payment shall be paid to ▇▇▇▇▇ and shall be considered to be a payment in respect of the Shares 1; (ii) fifty per cent. (50%) of the Preferred Payment shall be paid to Hardenberg and shall be ...
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Preferred Payment. “Preferred Payment” shall mean that payment due the Tribe as described in Section 6.4.
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Preferred Payment. To avoid additional processing fees, the preferred payment method is via check.
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Preferred Payment. “Preferred Payment” shall mean that payment due the Authority as described in Section 6.4.
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Related to Preferred Payment

  • Deferred Payment “Deferred Payment” means any severance pay or benefits to be paid or provided to Executive (or Executive’s estate or beneficiaries) pursuant to this Agreement and any other severance payments or separation benefits, that in each case, when considered together, are considered deferred compensation under Section 409A.

  • Required Payments Unless otherwise provided in this Agreement, any payment of Tax required shall be due within 30 days of a Final Determination of the amount of such Tax.

  • Deferred Payments “Deferred Payments” means any severance pay or benefits to be paid or provided to Executive (or Executive’s estate or beneficiaries) pursuant to this Agreement and any other severance payments or separation benefits to be paid or provided to Executive (or Executive’s estate or beneficiaries), that in each case, when considered together, are considered deferred compensation under Section 409A.

  • Guaranteed Payments To the extent any compensation paid to any Member by the Company, including any fees payable to any Member pursuant to Section 5.3 hereof, is determined by the Internal Revenue Service not to be a guaranteed payment under Code Section 707(c) or is not paid to the Member other than in the Person’s capacity as a Member within the meaning of Code Section 707(a), the Member shall be specially allocated gross income of the Company in an amount equal to the amount of that compensation, and the Member’s Capital Account shall be adjusted to reflect the payment of that compensation.

  • Delayed Payment Premium balances that remain unpaid for more than thirty (30) days after the Remittance Date will incur interest from the end of the reporting period. The Remittance Date is defined as thirty (30) days after the end of the reporting period. Interest will be calculated using the index specified in Article 13.5 − Interest Rate.