Common use of Estimated Payment Clause in Contracts

Estimated Payment. Notwithstanding the foregoing, if the Additional Amount cannot be finally determined on or before the Payment Date (as defined in section 2.4), the Parent shall pay or cause the Company to pay on the Payment Date an estimate, as determined in good faith by the Company, of the minimum amount of the Additional Amount. Any portion of the Additional Amount that is not made on the Payment Date shall bear interest at a rate equal to one-hundred twenty (120) percent of the monthly compounded applicable federal rate, as in effect under section 1274(d) of the Code for the month in which the Payment Date occurs. In the event that the amount of the estimated payment exceeds the amount subsequently determined to have been due, such excess shall constitute a loan by the payor, payable on the fifth day after demand by the Parent or the Company, as applicable, with interest at the rate provided under section 1274(d) of the Code until paid.

Estimated Payment. Notwithstanding the foregoing, if the Additional Amount cannot be finally determined on or before the Payment Date (as defined in section 2.4), the Parent shall pay or cause the Company to pay on the Payment Date an estimate, as determined in good faith by the Company, of the minimum amount of the Additional Amount. Any portion of the Additional Amount that is not made on the Payment Date shall bear interest at a rate equal to one-one- hundred twenty (120) percent of the monthly compounded applicable federal rate, as in effect under section 1274(d) of the Code for the month in which the Payment Date occurs. In the event that the amount of the estimated payment exceeds the amount subsequently determined to have been due, such excess shall constitute a loan by the payor, payable on the fifth day after demand by the Parent or the Company, as applicable, with interest at the rate provided under section 1274(d) of the Code until paid.