Catch-Up Payment Clause Samples

Catch-Up Payment. If Metro Government completes the Project early and Franchisee has not yet paid the full amount of the Project Fee, Franchisee will pay an amount equal to the Project Fee minus any payments already made within thirty (30) days of receipt of written notice from Metro Government of the Project’s completion.

Catch-Up Payment. On or before October 10, 2018, ▇▇▇▇ shall pay to RACER $4,484,755.50, which is the sum of the unpaid monthly amounts and late fees due to RACER under the Note (from October 2016 to October 2018) plus the sum of the forbearance fees due to RACER via this forbearance agreement and all prior forbearance agreements executed between ▇▇▇▇ and RACER. The monthly payment and late charge portions of the Catch-Up Payment shall be applied to accrued interest due under the Note.

Catch-Up Payment. In the event that (i) the Milestone Payment provided for in Section 1.9(a)(iii)(A) was neither earned nor paid and (ii) the sum of the Foot & Ankle Revenue for the First Period and Second Period exceeds the sum of the Baseline Revenue in the First Period and Second Period by an amount equal to or greater than $26,000,000, Acquiror shall pay to the Paying Agent, concurrently with the Milestone Payment provided for in Section 1.9(a)(iii)(B), a payment in the amount of $1,500,000.

Catch-Up Payment. If ▇▇▇▇ receives net proceeds of at least $25,000,000 in the aggregate from one or more offerings of Elio’s equity or debt on or before September 30, 2017, then ▇▇▇▇ shall pay to RACER, on or before September 30, 2017, the sum of the unpaid monthly amounts due to RACER, under the Note (from October 2016 to September 2017), a total of $2,099,255.50, irrespective of whether ▇▇▇▇ pays CH Capital or CH Capital waives the receipt of Elio’s payment of the $1,250,000 toward the CH Loan on (or before) such date (per the Second Loan Extension Agreement between CH Capital and ▇▇▇▇).

Catch-Up Payment. Upon the occurrence of a Catch Up Payment Event, the Required Purchasers shall have the right, but not the obligation (the “Catch Up Payment Option”), to require the Company to make the Catch Up Payment to the Purchaser Agent, for the account of the Purchasers. For clarity, the Required Purchasers’ exercise of the Catch Up Payment Option shall be binding upon all of the Purchasers. In the event that the Required Purchasers elect to exercise the Catch Up Payment Option, the Required Purchasers shall, or shall direct the Purchaser Agent to, deliver written notice to the Company specifying the closing date which date shall be no earlier than sixty (60) days after the Company’s receipt of such notice (the “Catch Up Payment Date”). On the Catch Up Payment Date, the Company shall make the Catch Up Payment to the Purchaser Agent, for the account of the Purchasers, in cash, by wire transfer of immediately available funds to the account designated by the Purchaser Agent. For the avoidance of doubt, the Required Purchasers’ election not to exercise the Catch Up Payment Option with respect to a given Catch Up Payment Event will not preclude the Required Purchasers from exercising the Catch Up Payment Option with respect to a continuing or subsequent Catch Up Payment Event. The rights of the Purchasers under this Section 5.07(c) are in addition to any rights or remedies of the Purchasers hereunder, including under Section 8.04.

Catch-Up Payment. If Immunetrics Revenue did not meet the First Target during the First Performance Period, but exceeded the Second Target during the Second Performance Period (any such excess, the “Excess Revenue”), then, in addition to amounts payable pursuant to Section 3.2, Equityholders shall be entitled to receive a certain amount of the unpaid portion of the First Tranche corresponding to the amount of Excess Revenue as set forth on Schedule 3 (the “Catch-Up Payment”). Notwithstanding the foregoing, (i) if, Immunetrics Revenue during the First Performance Period is less than the Floor, the terms of this Section 3.3 will not apply and no Catch-Up Payment will be payable and (ii) the Catch-Up Payment will not exceed an amount equal to (x) Four Million Dollars ($4,000,000) minus (y) the amount of the First Earnout Payment (the “Catch-Up Cap”).

Catch-Up Payment. (a) In the event that no First Year Payment is made during Fiscal Year 2011 as a result of Energy Steel’s failure to meet the minimum EBITDA threshold of $3,625,000, the Seller will be entitled to receive a catch-up payment in the amount of up to $1,000,000 (the “Catch-Up Payment”), if Energy Steel’s Fiscal Year 2011 EBITDA plus Energy Steel’s Fiscal Year 2012 EBITDA exceeds the Catch-Up EBITDA Thresholds, as set forth below: By way of examples: (i) if the Fiscal Year 2011 EBITDA is $3,500,000 (an event in which the First Year Payment would not be earned) and the Fiscal Year 2012 EBITDA is $4,500,000, ESAC shall make pay Seller the Second Year Payment of $1,000,000 plus a Catch-Up Payment in the amount of $1,000,000; and (ii) if the Fiscal Year 2011 EBITDA is $3,500,000 (an event in which the First Year Payment would not be earned) and the Fiscal Year 2012 EBITDA is $4,000,000, ESAC shall pay Seller a Catch-Up Payment in the amount of $500,000. (b) Notwithstanding the aforementioned subsection (a), Seller’s right to receive the Catch-Up Payment is conditioned upon Energy Steel’s Fiscal Year 2011 EBITDA being in excess of $3,000,000. For example, if the Fiscal Year 2011 EBITDA is $2,900,000 (an event in which the First Year Payment would not be earned) no Catch-Up Payment would be made regardless of the Fiscal Year 2012 EBITDA attained.