Timing and Form of Payment of Retention Amount Clause Samples

The "Timing and Form of Payment of Retention Amount" clause defines when and how a specified portion of payment, known as the retention amount, is to be paid in a contractual arrangement. Typically, this clause outlines the schedule for releasing the retained funds, such as upon completion of certain project milestones or after a defect liability period, and specifies whether payment will be made in cash, check, or another agreed-upon method. Its core function is to ensure that the party responsible for delivering goods or services fulfills all obligations before receiving the final portion of payment, thereby protecting the paying party against incomplete or defective performance.
Timing and Form of Payment of Retention Amount 
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  • Timing and Form of Payment Once a Restricted Stock Unit vests, the Participant will be entitled to receive a Share in its place. Delivery of the Share will be made as soon as administratively feasible following the vesting of the associated Restricted Stock Unit. Shares will be credited to an account established for the benefit of the Participant with the Company’s administrative agent. The Participant will have full legal and beneficial ownership of the Shares at that time.

  • Non-Duplication of Payment or Benefits For purposes of clarity, in the event of a Qualifying Pre-CIC Termination, any severance payments and benefits to be provided to the Executive under Section 3(b) will be reduced by any amounts that already were provided to the Executive under Section 3(a). Notwithstanding any provision of this Agreement to the contrary, if the Executive is entitled to any cash severance, continued health coverage benefits, or vesting acceleration of any equity awards (other than under this Agreement) by operation of applicable law or under a plan, policy, contract, or arrangement sponsored by or to which any member of the Company Group is a party (“Other Benefits”), then the corresponding severance payments and benefits under this Agreement will be reduced by the amount of Other Benefits paid or provided to the Executive.

  • PAYMENT OF REFERRAL FEE For each Referred Client, Recipient Broker/Agent shall pay ▇▇▇▇.▇▇▇ 35% of the gross compensation earned on the referred side in connection with the sale and purchase of real property by such Referred Client if closing occurs within 18 months after the date ▇▇▇▇.▇▇▇ identified via the monthly report, agent portal and/or placed such Referred Client to Recipient Agent, and the property closed with Recipient Agent (a “Referral Fee”). In the event Recipient Broker/Agent provides the Referred Clients information to another Agent in the brokerage and the Referred Client closes with that Agent, a Referral Fee will be due and that agent shall also be considered a Recipient Agent for the purposes of this Agreement. In the event the Recipient Broker/Agent is an active client of ▇▇▇▇.▇▇▇’s “Guaranteed Display” featured agent program at the time of the property closing, the applicable referral will be 30%. Recipient Broker/Agent shall either (i) direct the escrow/closing agent to pay the Referral Fee to ▇▇▇▇.▇▇▇ at closing or (ii) pay the Referral Fee directly to ▇▇▇▇.▇▇▇ within 15 calendar days of closing.

  • Time and Form of Payment (a) Each Actual Award shall be paid in Common Stock pursuant to the Award Agreements, subject to any required withholding for income and employment taxes. Dividend equivalent rights shall be paid in cash in a single lump sum to the extent earned. (b) Actual Awards will be paid on or after the third business day after the Company’s annual audit for the last fiscal year of the applicable Performance Period has been completed and the Company’s annual report on Form 10-K for such fiscal year has been filed with the Securities and Exchange Commission, but in no event later than the last day of the calendar year that begins immediately following the end of the applicable Performance Period. (c) Notwithstanding 4.3(b), in the event of a Participant’s death, the Participant’s estate will be eligible to receive an amount not greater than one-hundred percent (100%) of the Participant’s Target Award, prorated to reflect the number of days he or she worked during the applicable Performance Period, and such amount, which will be determined in the Committee’s sole discretion, will be paid in the year following Participant’s death. For clarity, prorated awards will be calculated as follows: one-hundred percent (100%) of a Participant’s Target Award will be multiplied by a fraction, the numerator of which is the number of days the Participant was continuously providing services to the Company during the applicable Performance Period through the date immediately prior to the Participant’s death, and the denominator of which is the total number of days in the applicable Performance Period. (d) Notwithstanding anything to the contrary in this Plan, no payments contemplated by this Plan will be paid during the six-month period following a Participant’s Separation from Service unless the Company determines, in its good faith judgment, that paying such amounts at the times indicated in paragraphs 4.3(b) and (c) would not cause the Participant to incur an additional tax under Code section 409A, in which case the Actual Award shall be paid on the first day of the seventh month following the Participant’s Separation from Service. (e) The Compensation Committee of the Board may require forfeiture or a clawback of any incentive compensation awarded or paid under this Plan in excess of the compensation actually earned based on a restatement of the Company’s financial statements as filed with the Securities and Exchange Commission for the period covered by this Plan.

  • Extension of Payment; Reduction of Principal Interest or Fees; Modification of Terms of Payment Whether or not any Loans are outstanding, extend the Expiration Date or the time for payment of principal or interest of any Loan (excluding the due date of any mandatory prepayment of a Loan), the Commitment Fee or any other fee payable to any Lender, or reduce the principal amount of or the rate of interest borne by any Loan or reduce the Commitment Fee or any other fee payable to any Lender, without the consent of each Lender directly affected thereby;