Residual Payment Clause Samples

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Residual Payment. In the event Transferee or his successor or assigns collects any amount of the Intercompany Debt within the three (3) year period following the date of this Agreement, Transferee shall promptly deliver to Transferor in readily available funds a percentage of all amounts collected based on the following scale: (a) if any amount is collected in the first year following the date of this agreement, ten percent (10%) of the first $500,000.00; twenty-five percent (25%) of the second $500,000.00; and thirty-three percent (33%) of any amount over $1,000,000.00; (b) if any amount is collected in the second year following the date of this agreement, ten percent (10%) of the first $1,000,000.00; and fifteen percent (15%) of any amount over $1,000,000; and (c) if any amount is collected in the third year following the date of this agreement, ten percent (10%) of the total amount collected.
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Residual Payment. Upon expiration of this Agreement, ICOS will be compensated in the form of a residual payment as follows: (i) If this Agreement expires as of December 31, 2006, SOLVAY shall pay ICOS a residual payment equal to [*] percent ([*]%) of the Gross Margin on the amount by which total Net Sales for [*] exceed [*] U.S. dollars (U.S. $[*]). (ii) In the event this Agreement is terminated prior to expiration by either party in accordance with Section 8.2 or 8.3 above, no residual payment shall be paid. SOLVAY shall make any residual payment due hereunder by wire transfer of immediately available funds, within forty-five (45) days following the last day of the period used in calculating such payment, to an account designated by ICOS.
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Residual Payment. Party B shall pay the balance according to the construction progress of the project. (1) When the project is in the positive and negative zero stage of the main structure, Party B shall pay 20% of the total building price, i.e. RMB 25,645,240 (twenty five million six hundred forty five thousand two hundred and forty Yuan) within 15 working days after receiving Party A’s payment notice. (2) When constructing the fourth floor of the main structure above ground, Party B shall pay 10% of the total building price, i.e. 12,822,620 (twelve million eight hundred twenty two thousand six hundred and twenty Yuan) within 15 working days after receiving Party A’s payment notice. (3) When reaching the roof-sealing of the main structure, Party B shall pay 20% of the total building price, i.e. RMB 25,645,240 (twenty five million six hundred forty five thousand two hundred and forty Yuan) within 15 working days after receiving Party A’s payment notice. (4) When delivering the building property for usage, Party B shall pay 30% of the total building price, i.e. RMB 38,467,860 (thirty eight million four hundred sixty seven thousand eight hundred and sixty Yuan) within 15 working days after receiving Party A’s payment notice. If Party B defaults in any of the above payments for more than 90 days, Party A is entitled to terminate the Purchase Agreement and this Supplementary Agreement.
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Residual Payment. (1) If there are monies remaining in the Trust Account after claims have been paid pursuant to Sections 6.4 and 6.5, additional payments will be made to Eligible Settlement Claimants from the remaining monies (the “Residual Payment Fund”) in accordance with this Section 6.6. (2) The additional payments will be calculated based on a residual point value which will be the quotient of the Residual Payment Fund divided by the aggregate number of points awarded to all Eligible Settlement Claimants who filed a Settlement Claim Form, subject to the maximum amounts provided for in Section 6.3(2)(c) or 6.3(3) and a minimum payment amount of $20. (3) Notwithstanding any other provision herein, payments from the Residual Payment Fund will be issued as cash payments. (4) If there are monies remaining in the Trust Account after payments have been issued pursuant to Section 6.6(2), such funds will be paid cy-prés to a non-profit organization jointly recommended by Class Counsel and the Defendants and approved by the Ontario Court.
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Residual Payment. Pursuant to Section 4.1(e), ▇▇▇▇▇▇ shall pay Cephalon residual payments for the Residual Periods in accordance with Section 4.1(e), except as set forth in this Section 11.6. if this Agreement terminates due to: (i) a Cephalon material breach; or (ii) termination pursuant to Section 10.2(f), then ▇▇▇▇▇▇ shall not pay any residual payment to Cephalon, except as specifically provided in Section l0.2(f)(ii). If this Agreement terminates due to an ▇▇▇▇▇▇ material breach, then ▇▇▇▇▇▇ shall pay the residual payment due Cephalon pursuant to Section 4.1(e). In the event such termination by Cephalon is due to an ▇▇▇▇▇▇ material breach, the amount of the residual payment due Cephalon shall not be construed as a penalty or as damages, but rather as compensation, and as such, it shall be included for purposes of calculating compensatory damages in the event Cephalon exercises any remedies available to it pursuant to Section 11.7 as a result of ▇▇▇▇▇▇'▇ material breach. If the Agreement terminates for any other reason, such residual payment shall be paid with respect to Net Sales accrued during the two - twelve (12) month periods immediately following the termination date and the residual commission rate shall be determined as follows: the residual payment commission rate as set forth in Section 4.1(e) shall be multiplied by a fraction, the numerator of which is the number of months completed under this Agreement and the denominator of which is one hundred four (104) months, the number of months in the full Collaboration Period. The newly-calculated commission rate shall be the commission rate used to calculate commissions due to Cephalon for the two - twelve (12) month periods immediately following the termination date. ▇▇▇▇▇▇ shall pay Cephalon the amounts payable pursuant to this Section 11.6 within forty-five (45) days of the end of each such twelve (12) month period. ▇▇▇▇▇▇ shall make such payment by wire transfer to such bank and account number as Cephalon may identify to ▇▇▇▇▇▇ from time to time.
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Residual Payment. A. Bargaining unit members retiring at the end of the school year may apply for residual salary payment before July 1, in order to commence retirement pay during that month. In order to be eligible for such residual salary, a bargaining unit member must notify the Superintendent of their intention to retire not later than January 15 of the year of retirement, barring circumstances arising after January 15 which are beyond the control of the bargaining unit member.
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Related to Residual Payment

  • Principal Payment The Borrower shall fail to pay any principal of any Note when the same becomes due and payable as set forth in this Agreement;

  • Rental Payment Licensee agrees to pay to LRPM as a license fee for the use of the parking space(s) granted under this Agreement, the sum listed above in one lump sum payment for each parking space. Payment shall be made payable to Legacy Realty & Property Management, LLC and is due at the time of submission of the signed agreement. Any agreement received is not considered complete unless payment is included.

  • Final Payment A. Upon final completion and acceptance of the Work in accordance with Paragraph 15.06 of the General Conditions, Owner shall pay the remainder of the Contract Price as recommended by Engineer as provided in said Paragraph 15.06.

  • Rental Payments ‌ (a) The Lessee agrees to pay rental for the Premises at a rate per year during the term of this Lease not to exceed Five Hundred Fifty Thousand Dollars ($550,000). Each such semi- annual installment, payable as hereinafter described, shall be based on the value of the Real Estate and Existing Improvements together with that portion of the New Improvements which are complete and ready for use and occupancy by the Lessee at the time such semi-annual installment is made. The first rental installment shall be due on June 30, 20 or December 31, 20 , as determined by the Lessor and the Lessee at the time the parties hereto endorse the Addendum to Lease in the form attached hereto as Exhibit B. Thereafter, such rental shall be payable in advance in semi-annual installments on June 30 and December 31 of each year. The last semi-annual rental payment due before the expiration of this Lease shall be adjusted to provide for rental at the yearly rate so specified from the date such installment is due to the date of the expiration of this Lease. All rentals payable under the terms of this Lease shall be paid by the Lessee to the trustee (the “Trustee”) under the trust indenture (the “Indenture”) securing the bonds to be issued by the Lessor to provide funds for the project on the Premises (such bonds, or bonds issued to refund such bonds, the “Bonds”). All payments so made by the Lessee shall be considered as payments to the Lessor of the rentals payable hereunder. (b) After the sale of the Bonds, the annual rental shall be reduced to an amount sufficient to pay principal and interest due in each twelve (12) month period commencing each year on January 15, payable in semi-annual installments, rounded to the next One Thousand Dollars, ($1,000) plus Five Thousand Dollars ($5,000). In addition, each such reduced semi- annual installment shall be based on the value of the Real Estate and the Existing Improvements together with that portion of the New Improvements which are complete and ready for use and occupancy by the Lessee at the time such semi-annual installment is made. Such amount of adjusted rental shall be endorsed on this Lease at the end hereof in the form of Exhibit B attached hereto by the parties hereto as soon as the same can be done after the sale of the Bonds, and such endorsement shall be recorded as an addendum to this Lease. (c) The fixed annual rentals described in this Section 2 (the “Fixed Annual Rentals”) and the additional rentals described in Section 3 (the “Additional Rentals”) shall be payable solely from the revenues of the tax levied by the Lessee pursuant to the Indiana Code § 36-1-10- 17 (the “Tax Revenues”). The Lessee may pay the Fixed Annual Rentals and the Additional Rentals or any other amounts due hereunder from any other revenues legally available to the Lessee; provided, however, the Lessee shall be under no obligation to pay any Fixed Annual Rentals or Additional Rentals or any other amounts due hereunder from any moneys or properties of the Lessee except the Tax Revenues received by the Lessee.

  • Annual Payment During each calendar year, an employee may choose to receive payment for up to twenty (20) hours of accrued vacation leave or compensatory time. Request for payment may be made in November or December of each year. Such payment shall be made during the month of November or December and will be granted only if the employee has taken at least forty (40) hours of vacation/compensatory time during the calendar year. Such payment shall be at the base hourly rate only, no add-ons.