Second Extension Payment Clause Samples

The Second Extension Payment clause defines the terms under which a party must make an additional payment to extend a contractual deadline or option period for a second time. Typically, this clause specifies the amount, timing, and method of payment required to secure the extension, and may outline any conditions that must be met for the extension to take effect. Its core practical function is to provide a clear mechanism for extending contractual obligations or rights beyond the original or first extension period, thereby offering flexibility while ensuring both parties understand the financial and procedural requirements involved.
Second Extension Payment. In consideration of Contributor agreeing to the amendments set forth above, each of Acquiror and each HPK Party (except for the HPK Representative) jointly and severally agree to pay to Contributor by wire transfer of immediately available funds to the account set forth on Attachment 1 an aggregate amount equal to Fifteen Million Dollars ($15,000,000.00) (the “Second Extension Payment”) which amount shall be due and payable as follows: (a) One Million Dollars ($1,000,000.00) no later than 5:00 pm Central Time on the date hereof; (b) Five Million Dollars ($5,000,000.00) no later than 5:00 pm Central Time on February 21, 2020; (c) Five Million Dollars ($5,000,000.00) no later than 5:00 pm Central Time on March 20, 2020; and (d) Four Million Dollars ($4,000,000.00) no later than 5:00 pm Central Time on April 21, 2020. For the avoidance of doubt and notwithstanding anything to the contrary herein or in the Agreement, (i) the Second Extension Payment shall not be credited against Acquiror’s obligation to pay the Cash Acquisition Price at Closing and (ii) the obligation of Acquiror and each HPK Party (except for the HPK Representative) to jointly and severally pay the entirety of the Second Extension Payment is consideration for the execution of this Amendment by Contributor and shall survive any termination of the Agreement.
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Second Extension Payment. Celgene may, after extending the Research Term for the First Extension and in its sole discretion, extend the Research Term from the [***] of the Effective Date to the [***] of the Effective Date (the “Second Extension”) by providing written notice to Jounce at least [***] prior to the [***] of the Effective Date and Celgene shall, within [***] after issuance of such notice, pay to Jounce an extension payment in an amount equal to [***].
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Related to Second Extension Payment

  • Payment of Extension Fee The Borrower shall pay to the Agent for the pro rata accounts of the Lenders in accordance with their respective Commitments an extension fee in an amount equal to twenty-five (25) basis points on the Total Commitment in effect on the Maturity Date (as determined without regard to such extension), which fee shall, when paid, be fully earned and non-refundable under any circumstances.

  • Exceptions and Extension of Payment Due Date NYSERDA has determined that, notwithstanding the provisions of Sections 504.3 and 504.4 of this Exhibit, any of the following facts or circumstances, which may occur concurrently or consecutively, reasonably justify extension of the Payment Due Date: (a) If this Agreement provides Payment will be made on a specific date or at a predetermined interval, without having to submit a written invoice, if any documentation, supporting data, performance verification, or notice specifically required by this Agreement or other State or Federal mandate has not been submitted to NYSERDA on a timely basis, then the Payment Due Date shall be extended by the number of calendar days from the date by which all such matter was to be submitted to NYSERDA and the date when NYSERDA has actually received such matter. (b) If an inspection or testing period, performance verification, audit or other review or documentation independent of the Contractor is specifically required by this Agreement or by other State or Federal mandate, whether to be performed by or on behalf of NYSERDA or another entity, or is specifically permitted by this Agreement or by other State or Federal provision and NYSERDA or other entity with the right to do so elects to have such activity or documentation undertaken, then the Payment Due Date shall be extended by the number of calendar days from the date of Receipt of an Invoice to the date when any such activity or documentation has been completed, NYSERDA has actually received the results of such activity or documentation conducted by another entity, and any deficiencies identified or issues raised as a result of such activity or documentation have been corrected or otherwise resolved. (c) If an invoice must be examined by a State or Federal agency, or by another party contributing to the funding of the Contract, prior to Payment, then the Payment Due Date shall be extended by the number of calendar days from the date of Receipt of an Invoice to the date when the State or Federal agency, or other contributing party to the Contract, has completed the inspection, advised NYSERDA of the results of the inspection, and any deficiencies identified or issues raised as a result of such inspection have been corrected or otherwise resolved. (d) If appropriated funds from which Payment is to be made have not yet been appropriated or, if appropriated, not yet been made available to NYSERDA, then the Payment Due Date shall be extended by the number of calendar days from the date of Receipt of an Invoice to the date when such funds are made available to NYSERDA.

  • Non-Payment The Borrower or any other Loan Party fails to pay (i) when and as required to be paid herein, any amount of principal of any Loan or any L/C Obligation, or (ii) within three days after the same becomes due, any interest on any Loan or on any L/C Obligation, or any fee due hereunder, or (iii) within five days after the same becomes due, any other amount payable hereunder or under any other Loan Document; or

  • Loan Payment Payments of principal, interest, and Late Charges (as defined in the Note) shall be made as provided in the Note.

  • Termination Payment The final payment delivered to the Certificateholders on the Termination Date pursuant to the procedures set forth in Section 9.01(b).