Right of Payment Sample Clauses

The Right of Payment clause establishes a party’s entitlement to receive payment under the terms of an agreement. It typically outlines when payments are due, the method of payment, and any conditions that must be met before payment is made, such as completion of services or delivery of goods. By clearly defining payment rights and obligations, this clause helps prevent disputes over compensation and ensures that both parties understand when and how payments will be processed.
POPULAR SAMPLE Copied 2 times
Right of Payment. The Notes shall be senior secured obligations of the Issuer and each Guaranty shall be the senior secured obligation of the applicable Guarantor. The Notes and the Existing Senior Secured Notes shall rank pari passu in right of payment, and the Guaranty of the Notes by each Guarantor shall rank pari passu with the "Guaranty" (as such term is defined in the Purchase Agreement) of the Existing Senior Secured Notes by such Guarantor.
View SourceView Similar (4)
Right of Payment. Common Shareholder who complies with the provisions of this Agreement shall, in addition to any other rights it may have, have the right, on or after the Transaction Date, to be paid by Lifeco in cash an amount equal to the fair value of its CLFC Common Shares. Such fair value shall be determined as of the close of business on the day before the Transaction Resolution was adopted and shall be expressed as a cash amount for each such CLFC Common Share.
View SourceView Similar (2)
Right of Payment. The Notes shall be senior secured obligations of the Issuer and each Guaranty shall be the senior secured obligation of the applicable Guarantor. From and after the issuance date of the New Notes, the New Notes and the Notes shall rank pari passu in right of payment, and the Guaranty of the Notes by each Guarantor shall rank pari passu with the New Guaranty of the New Notes by such Guarantor.
View SourceView Similar (2)
Right of Payment. If Consultant becomes unable to perform services pursuant to this Agreement by reason of illness, incapacity or death, compensation shall cease upon the happening of the event. Otherwise, the shares rendered as payment are deemed to be earned by the Consultant and forthcoming by the Corporation immediately upon the execution of this Agreement. Further, the Corporation acknowledges and waives all rights to contest the issuance of shares at any point after the execution of this Agreement by the parties hereto.
View SourceView Similar (3)
Right of Payment. For so long as any Promissory Note is outstanding, if the Company: (a) enters into any financing transaction, the Company shall make a prepayment of amounts owed under the Promissory Notes, unless waived by the Investor, in an amount equal to 20% of the net proceeds of such financing transaction; and (b) receives any disbursement(s) pursuant to the transactions contemplated in the FPA, the Company shall make a prepayment of amounts owed under the Promissory Notes, unless waived by the Investor, in an amount equal to 100% of the net proceeds that the Company receives from any such disbursements pursuant to the FPA, with such amounts first being applied to the next Installment Amount due under such Promissory Note(s) and any remaining amounts from such disbursement(s), if any, applied to the last Installment Amount due under such Promissory Note(s). For the avoidance of doubt, any prepayment made in accordance with this Section 7.26 shall not be subject to the conditions of an Optional Redemption (as defined in the Promissory Notes) and shall not incur any Redemption Premium (as defined in the Promissory Notes).
View Source
Right of Payment. The Trustees have the right to pay benefits to any other organization or person, as needed, to carry out the provisions of the Plan. The Trustees may pay for or provide services or equipment that they deem to be Medically Necessary, but not otherwise covered by the Plan, if in their sole discretion, they conclude that paying for or providing such services or equipment would be financially beneficial to the Plan. This action is not deemed to be an amendment to the Plan nor does it establish a precedent, nor will it obligate such actions in the case of any subsequent claim. The Trustees may, but are not required to, delegate to their administrative manager the authority to authorize such payments on a uniform application.
View Source
Right of Payment. The Collateral Trustee's right to payment of the Obligations arising in any way (including, but not limited to, under a negotiable instrument or another contract with the Chargor) does not merge with the Chargor’s undertaking to pay the Obligations under this deed.
View Source
Right of Payment. Notwithstanding any limitations on the ability of Bondholders to direct the actions of the Trustee hereunder, and notwithstanding any other provisions of this Guaranty, the holder of any Bond shall have the right, which is absolute and unconditional, to receive payment of the principal of, premium (if any) and interest on such Bond on the respective maturity date expressed in such Bond and such right shall not be impaired without the consent of such Holder.
View Source

Related to Right of Payment

  • Condition of Payment All services provided by the Contractor under this Contract must be performed to the State’s reasonable satisfaction, as determined at the discretion of the undersigned State representative and in accordance with all applicable federal, state, local laws, ordinances, rules and regulations. The State shall not be required to pay for work found to be unsatisfactory, inconsistent with this Contract or performed in violation of any federal, state or local statute, ordinance, rule or regulation.

  • Effect of Payment Neither approval of an application for payment, a progress payment, release of retainage, final payment, or partial or entire use or occupancy of the Project by the Owner shall constitute acceptance of work not conforming to the Contract Documents, or waiver of the right to assert overpayment.

  • Restriction of payment An employee shall not be entitled to payment for inclement weather as provided for in this clause unless the employee remains on the job until the provisions set out in this clause have been observed.

  • Termination of Payments Notwithstanding section 2.2, no payments shall be due to Purchaser ▇▇▇▇ Purchaser has received an aggregate amount under this Note, including payments made by the Company pursuant to section 2.3, equal to (i) the Principal Amount (as defined in the Investor Information Sheet above), multiplied by (ii) the Maximum Payment Multiple. We refer to the result of this multiplication as the “Maximum Payment Amount.”

  • Notation of Payment Each Lender agrees that before disposing of any Note held by it, or any part thereof (other than by granting participations therein), that Lender will make a notation thereon of all Loans evidenced by that Note and all principal payments previously made thereon and of the date to which interest thereon has been paid; provided that the failure to make (or any error in the making of) a notation of any Loan made under such Note shall not limit or otherwise affect the obligations of Company hereunder or under such Note with respect to any Loan or any payments of principal or interest on such Note.