COMPANY BREACH PAYMENT Clause Samples

COMPANY BREACH PAYMENT. (1) The Company will pay to Parent the sum of $250,000 (the "COMPANY BREACH PAYMENT") if Parent has terminated this Agreement pursuant to Section 9.01(d) and the breach of the representation, warranty, covenant or agreement under Section 9.01(d) was caused by the willful conduct or gross negligence of the Company. Under such circumstances the Company shall also pay to Parent Expenses as provided in Section 9.02(b).