Settlement Timing Clause Samples

The Settlement Timing clause defines when payments or obligations between parties must be fulfilled following a transaction or event. Typically, it specifies a set number of days after an invoice is issued, delivery is completed, or another triggering event occurs, during which payment or settlement must be made. This clause ensures both parties have a clear understanding of their financial timelines, reducing the risk of disputes or delays related to payment schedules.
Settlement Timing. Unless and until the Restricted Stock Units become vested and non-forfeitable in accordance with Section 2, Section 3 or Section 6 of this Agreement, the Grantee will have no right to settlement of any such Restricted Stock Units. Restricted Stock Units will be settled under this Section 4 by the Company delivering to the Grantee (or his beneficiary in the event of death) a number of Shares equal to the number of Restricted Stock Units that have become vested and non-forfeitable and are to be settled at the applicable settlement date. In the case of Restricted Stock Units that become vested and non-forfeitable at the Determination Date in accordance with Section 2 of this Agreement (including Restricted Stock Units not forfeited by operation of Section 6(a) or 6(c)), such Restricted Stock Units will be settled at a date that is as prompt as practicable after the Determination Date but in no event later than two and one-half (2-1/2) months after the Determination Date (settlement that is prompt but in no event later than two and one-half (2-1/2) months after the applicable vesting date is referred to herein as “Prompt Settlement”). The settlement of Restricted Stock Units that become vested and non-forfeitable in circumstances governed by Section 3 or Section 6(b) will be as follows: (i) Restricted Stock Units that do not constitute a deferral of compensation under Code Section 409A will be settled as follows: (A) Restricted Stock Units that become vested in accordance with Section 6(b) (due to the Grantee’s death) will be settled within the period extending to not later than two and one-half (2-1/2) months after the later of the end of calendar year or the end of the Company’s fiscal year in which death occurred; and (B) Restricted Stock Units that become vested in accordance with Section 3(a) (on the Change in Control Anniversary) or Section 3(b) (during the year following a Change in Control) will be settled in a Prompt Settlement following the applicable vesting date under Section 3(a) or 3(b). (ii) Restricted Stock Units that constitute a deferral of compensation under Code Section 409A (“▇▇▇▇ ▇▇▇▇”) will be settled as follows: (A) ▇▇▇▇ ▇▇▇▇ that become vested in accordance with Section 6(b) (due to the Grantee’s death) will be settled on the 30th day after the date of the Grantee’s death; (B) ▇▇▇▇ ▇▇▇▇ that become vested in accordance with Section 3(a) (on the Change in Control Anniversary), if in connection with the Change in Control there occurred a...
View SourceView Similar (74)
Settlement Timing. Unless and until the Awarded Units become vested and nonforfeitable in accordance with Section 3, 4, 5 or 6 of this Agreement, the Participant will have no right to settlement of any such Awarded Units. Awarded Units will be settled under this Section 8 by the Company delivering to the Participant (or his beneficiary in the event of death) a number of Common Shares equal to the number of Awarded Units that have become vested and nonforfeitable in accordance with Section 3, 4, 5 or 6 of this Agreement and are to be settled at the applicable settlement date. In the case of Awarded Units that become vested and nonforfeitable in accordance with Section 3, 4, 5 or 6 such Awarded Units will be settled at a date that is as prompt as practicable after the vesting date but in no event later than sixty (60) days after the applicable vesting date.
View SourceView Similar (4)
Settlement Timing. The timing of settlement of Awarded Units is set forth in Exhibit B.
View SourceView Similar (3)
Settlement Timing. If a merchant submits a withdrawal request on day “T” before 3pm, Latipay will process the settlement on business day “T+1” between 3pm and 4pm. If a merchant submits a withdrawal request on day “T” after 3pm, Latipay will process the settlement on business day “T+2” between 3pm and 4pm.
View SourceView Similar (2)
Settlement Timing. On the second Business Day after each day on which Citibank receives from Merchant or Acquirer any Records of transactions on Sears Cards, Citibank will credit to the Merchant checking account as specified in the merchant application (the “Account”), the aggregate amount of all Sales Drafts so received and settled by Citibank since the previous settlement, unless otherwise specified in Citibank Merchant Agreement — Sears Card Exhibit B. A separate debit will be posted for any Chargebacks or adjustments received. A separate debit will be posted for all interchange fees charged by Citibank on such transactions, and any discount, fees and/or service charges due to Citibank under the Pricing Schedule as outlined in Exhibit B, will be debited on the second Business Day after month end, if applicable. For purposes of this Agreement, “Business Day” means the days the Federal Reserve Bank is open.
View Source
Settlement Timing. Unless and until the Awarded Units become vested and nonforfeitable in accordance with Sections 3 and 4 of the Agreement, the Participant will have no right to settlement of any such Awarded Units. Awarded Units will be settled under the Agreement by the Company delivering to the Participant (or his beneficiary in the event of death) a number of Common Shares equal to the number of Awarded Units that have become vested and nonforfeitable in accordance with Section 3 or 4 of the Agreement and are to be settled at the applicable settlement date. In the case of Awarded Units that become vested and nonforfeitable upon an anniversary of the Date of Grant in accordance with Section 3, such Awarded Units will be settled at a date that is as prompt as practicable after the date of the applicable anniversary of the Date of Grant but in no event later than two and one-half (2 1/2) months after the end of the calendar year in which the applicable anniversary occurs. The settlement of Awarded Units that become vested and nonforfeitable in accordance with Section 4(b) or 4(c) will be made at a date that is as prompt as practicable after the Participant’s Termination of Service but in no event later than two and one-half (2 1/2) months after the end of the calendar year in which Termination of Service occurred. The settlement of Awarded Units that become vested and nonforfeitable in accordance with Section 4(d) will be made on or before the Change in Control. b.
View Source

Related to Settlement Timing

  • Payment Timing Any lump sum Salary or bonus payments under Sections 3(a)(i), 3(b)(i), and 3(b)(ii) will be provided on the first regularly scheduled payroll date of the Company following the date the Release becomes effective and irrevocable (the “Severance Start Date”), subject to any delay required by Section 5(d) below. Any taxable installments of any COBRA-related severance benefits that otherwise would have been made to the Executive on or before the Severance Start Date will be paid on the Severance Start Date, and any remaining installments thereafter will be provided as specified in the Agreement. Any restricted stock units, performance shares, performance units, and/or similar full value awards that accelerate vesting under Section 3(b)(iv) will be settled (x) on a date no later than ten (10) days following the date the Release becomes effective and irrevocable, or (y) if later, in the event of a Qualifying Pre-CIC Termination, on a date no later than the Change in Control.

  • Settlement Payment If the resulting net amount is positive, it shall be payable by the Defaulting Party to the Non-Defaulting Party, and if it is negative, then the absolute value of such amount shall be payable by the Non-Defaulting Party to the Defaulting Party.

  • Settlement Payments On the first Business Day of each month (“Interest Settlement Date”), Agent will advise each Lender by telephone, fax or telecopy of the amount of such Lender’s share of interest and fees on the Loans as of the end of the last day of the immediately preceding month. Provided that such Lender has made all payments required to be made by it under this Agreement, Agent will pay to such Lender, by wire transfer to such Lender’s account (as specified by such Lender in writing to Agent) not later than 3:00 p.m., New York City time, on the next Business Day following the Interest Settlement Date, such Lender’s share of interest and fees on the Loans. Such Lender’s share of interest on the Loans will be calculated by adding together the Daily Interest Amounts for each calendar day of the prior month for the Loan and multiplying the total thereof by the Interest Ratio for the Loan. Such Lender’s share of the Unused Line Fee payable under Section 3 of the Schedule for a month shall be an amount equal to (a)(i) such Lender’s Pro Rata Share of the Maximum Credit Limit during such month, less (ii) such Lender’s average Daily Loan Balance of the Loans for such month, multiplied by (b) the percentage specified regarding the Unused Line Fee in Section 3 of the Schedule. Such Lender’s share of all other fees paid to Agent for the benefit of Lenders hereunder shall be paid and calculated based on such Lender’s Pro Rata Share of the Total Credit Exposure, except that the Loan Fee payable under Section 3 of the Schedule shall be allocated $400,000 to Ally and $100,000 to PWB. To the extent Agent does not receive the total amount of any fee owing by Borrowers under this Agreement, each amount payable by Agent to a Lender under this Section 8A.3(A)(3) with respect to such fee shall be reduced on a pro rata basis based on their Pro Rata Share. Any funds disbursed or received by Agent pursuant to this Agreement, including, without limitation, under Sections 8A.2, 8A.3(A)(1), and 8A.4, prior to the Settlement Date for such disbursement or payment shall be deemed advances or remittances by Ally, in its capacity as a Lender, for purposes of calculating interest and fees pursuant to this Section 8A.3(A)(3).

  • Settlement Funds For the purpose of settling a Securities transaction, Customer will provide BNY Mellon with sufficient immediately available funds or Securities, as applicable, in the relevant Account by such time and date as is required to enable BNY Mellon to settle such transaction in the country of settlement and in the currency to be used to settle such transaction.

  • Settlement Fund All payments under this Section IV shall be made into the Settlement Fund, except that, where specified, they shall be made into the Settlement Fund Escrow. The Settlement Fund shall be allocated and used only as specified in Section V.