Time for Payment; Interest Sample Clauses
The 'Time for Payment; Interest' clause establishes when payments are due under a contract and sets out the consequences for late payment, typically in the form of interest charges. It specifies the exact timeframe within which invoices or amounts owed must be paid, such as within 30 days of receipt, and details the interest rate or penalty that will accrue if payment is delayed. This clause ensures timely payment, discourages late payments, and compensates the payee for any delay, thereby promoting financial discipline and reducing disputes over payment timing.
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Time for Payment; Interest. The cash Benefits payable made under this Section 2.1 shall be paid to Employee in a single lump sum within ten days following the date of termination. The Company's obligation to pay to Employee any amounts under this Section 2.1 will bear interest at the lesser of (i) 10% or (ii) the maximum rate allowed by law until paid by the Company, and all accrued and unpaid interest will bear interest at the same rate, all of which interest will be compounded annually.
Time for Payment; Interest. The Termination Payment made under this Section 7.1 shall be paid to Employee in a single lump sum within ten days following the date of termination. The Company's obligation to pay to Employee any amounts under this Section 7.1, including without limitation the Termination Payment and any Gross-Up Payment due under Section 6.2, will bear interest at the prime rate as quoted in The Wall Street Journal plus 2%, and all accrued and unpaid interest will bear interest at the same rate, all of which interest will be compounded annually.
Time for Payment; Interest. The cash amounts payable under this Section 2.1 shall be paid to Executive in a single lump sum within ten days following the date of termination of employment. The Company’s obligation to pay to Executive any amounts under this Section 2.1 will bear interest at the lesser of (i) 10% or (ii) the maximum rate allowed by law until paid by the Company, and all accrued and unpaid interest shall bear interest at the same rate, all of which interest will be compounded annually.
Time for Payment; Interest. The Company will pay the Termination Payment to Employee concurrent with Employee's termination of employment. The Company's obligation to pay to Employee any amounts under this Section 8, including without limitation the Termination Payment, will bear interest at the maximum rate allowed by law until paid by the Company, and all accrued and unpaid interest will bear interest at the same rate, all of which interest will be compounded daily.
Time for Payment; Interest. Employer shall pay the Termination Payment to Employee concurrently with the Triggering Termination or, if the Triggering Termination occurs before the Change In Control, concurrently with the Change In Control. Employer's obligation to pay to Employee any amounts under this Section 10, including without limitation the Termination Payment and any Gross Up Payment due under Section 10(d), shall bear interest at the rate of 18% per annum or, if different, the maximum rate allowed by law until paid by Employer, and all accrued and unpaid interest shall bear interest at the same rate, all of which interest shall be compounded daily.
Time for Payment; Interest. The severance payment described in Section 8 and the Termination Payment described in Section 9 shall be paid to Executive in a single lump sum within 15 days following the date of termination, provided that the Gross-Up Payment described in Section 9(c) shall be payable in accordance with the procedures described therein. The Company's obligation to pay to Executive any amounts under this Agreement will bear interest at the prime rate as quoted in The Wall Street Journal plus 2%, and all accrued and unpaid interest will bear interest at the same rate, all of which interest will be compounded annually.
Time for Payment; Interest. Except as otherwise provided in Section 10(j) and subject to Section 11(p), Employer shall pay the Termination Payment to Employee for 12 months after the date of termination in equal monthly payments in arrears. Employer’s obligation to pay to Employee any amounts under this Section 10, including without limitation the Termination Payment and any Gross Up Payment due under Section 10(d), shall bear interest at the rate of 18% per annum or, if different, the maximum rate allowed by law until paid by Employer, and all accrued and unpaid interest shall bear interest at the same rate, all of which interest shall be compounded daily.
Time for Payment; Interest. The Company will pay the Termination Payment to Employee as soon as practical after Employee’s termination of employment but not later than fifteen (15) days after such termination of employment.
Time for Payment; Interest. Except as set forth in Section 6.7 with respect to the cash payments required thereunder, Milestone Payments payable to Licensor are due and payable within thirty (30) days after the achievement of the Milestone Event, except that the Milestone Payment set forth in Section 6.5.1 shall be payable within ten (10) days after achievement of the Milestone Event. If Licensor does not receive payment of any sum due to it on or before the due date, interest shall thereafter accrue on the sum due to Licensor until the date of payment at the per annum rate of five percent (5%) over the then-current prime rate reported in The Wall Street Journal or the maximum rate allowable by Applicable Laws, whichever is lower, with such interest compounded quarterly.