Incentive Purchase Price Sample Clauses

Incentive Purchase Price. (i) The Sellers shall have the right to be paid up to an additional aggregate $800,000.00 (“Incentive Performance Purchase Price”) in restricted common shares of the Purchaser,the number of shares of which shall be determined by dividing the Incentive Performance Purchase Price amount for the applicable Incentive Performance Period (defined below), by an amount equal to the average per share closing “ask” price of the Company shares, reported by Bloomberg, for the five (5) trading days preceding the end of applicable Incentive Performance Period. The Incentive Performance Periods shall be the period from the Closing Date through December 31, 2006 (“2006”) and the calendar years 2007 and 2008. The end of each Incentive Performance Period shall be December 31. The Incentive Performance Purchase Price amount available to be earned in each of the three Incentive Bonus Periods is as follows: for (x) 2006 - $200,000.00, (y) 2007 - $200,000.00 and (z) 2008 - $400,000.00. The calculation of the amount of Incentive Bonus to which Sellers are entitled for a particular Incentive Bonus Period shall be determined as provided in section 1(b)(ii) below. Notwithstanding any other provision of this Agreement, the number of shares issuable to Sellers pursuant to section 1(b) hereof shall be rounded to the nearest whole number of shares.
Sample 1
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Incentive Purchase Price. The Purchaser shall also pay to the Seller an incentive purchase price (the "Incentive Purchase Price") in an amount equal to one percent (1%) of the aggregate gross sales of all of the Seller's 28 currently existing locations, a list of which is set forth on Schedule 1.5 hereto, for each of the three years beginning June 1, 1997 and ending May 31, 2000 up to a maximum aggregate amount of Five Hundred Thousand Dollars ($500,000). For purposes of this Agreement, "gross sales" shall mean all revenues generated from sales made and services performed less discounts, rebates, credits, refunds and returns during such period. The Purchaser agrees to grant discounts, rebates, credits, refunds and returns in a manner generally consistent with past practice. The Purchaser shall pay the Incentive Purchase Price to the Seller on or before July 15th immediately following the annual period that such Incentive Purchase Price was earned. The Purchaser agrees to provide to the Seller (or the Stockholder, if the Stockholder so elects in writing) on a quarterly basis a statement setting forth the total amount of gross sales generated by such locations during each quarter that the Incentive Purchase Price may be earned. Each statement shall be accompanied by a certificate of an officer of the Purchaser certifying that such statement is accurate and complete. The Seller (or the Stockholder) shall have fifteen (15) days from the date of receipt to verify the accuracy of any gross sales statement. The Seller (or the Stockholder) and the Purchaser shall attempt to promptly resolve any dispute regarding the accuracy of any statement. If the parties are unable to resolve any such dispute within fifteen (15) days, the matter shall be submitted to binding arbitration using a "big six" accounting firm not otherwise engaged by either the Seller, the Stockholder or the Purchaser (a "CPA Firm"), the cost of which shall be shared equally by the Purchaser and the Seller (or the Stockholder). Notwithstanding the foregoing, nothing herein shall preclude the Purchaser from closing any of the locations listed on Schedule 1.5 hereto; provided, however, that in the event the Purchaser closes any of such locations and opens a new location within two miles of such closed location and within three months of such closure, the gross sales generated by such new location shall be included in the calculation of the Incentive Purchase Price and provided, further, that in the event the Purchaser sells all...
Sample 1

Related to Incentive Purchase Price

  • Share Purchase Price The aggregate purchase price for the Purchased Shares (the "Share Purchase Price") will consist of the payment of an amount of cash, equal to $30.10 per Purchased Share, as set forth on Schedule I.

  • Option Purchase Price Subject to Section 6.3(a)(iii) below, if ---- --------------------- the Management Investor shall be terminated by the Company with or without Cause or shall cease to be employed by the Company by reason of retirement or resignation, the "Option Purchase Price" for the Common Stock to be purchased from such Management Investor pursuant to the Purchase Option (such number of shares of Common Stock being the "Purchase Number") shall equal the price calculated as set forth in the table below opposite the applicable Termination Date of such Management Investor: Original Management Investors ----------------------------- If the Termination Occurs: Option Purchase Price -------------------------- --------------------- On or prior to July 29, 1995 Adjusted Cost Price multiplied by the Purchase Number After July 29, 1995 and on or Adjusted Cost Price multiplied by 80% of prior to July 29, 1996 the Purchase Number After July 29, 1996 and on or Adjusted Cost Price multiplied by 60% of prior to July 29, 1997 the Purchase Number After July 29, 1997 and on or Adjusted Cost Price multiplied by 40% of prior to July 29, 1998 the Purchase Number After July 29, 1998 and on or Adjusted Cost Price multiplied by 20% of prior to July 29, 1999 the Purchase Number New Management Investors ------------------------ If the Termination Date Occurs: Option Purchase Price ------------------------------- --------------------- On or prior to the first anniversary of the Adjusted Cost Price multiplied by the Closing Date Purchase Number After the first anniversary of the Closing Date, Adjusted Cost Price multiplied by 66 2/3% and on or prior to the second anniversary of the of the Purchase Number Closing Date After the second anniversary of the Closing Date, Adjusted Cost Price multiplied by 33 1/3% and on or prior to the third anniversary of the of the Purchase Number Closing Date As used herein, "Closing Date" for each New Management Investor means the date specified opposite such person's respective name on Schedule II hereto. Notwithstanding anything to the contrary contained herein, in connection with the exercise of any Purchase Option pursuant to Section 6.3, the Company may deduct from the Option Purchase Price paid to any Management Investor the aggregate amount of the outstanding principal and accrued but unpaid interest due on any Promissory Note of such Management Investor to the Company. As used herein, "Adjusted Cost Price" for each share of Common Stock means the original purchase price per share for the Management Investor's Common Stock as set forth in Section 1.1 (including any shares of Common Stock which have been converted into other shares of capital stock of the Company, and adjusted for any stock dividend payable upon, or subdivision or combination of, the Common Stock);

  • Base Purchase Price 10 3.2 Adjustments to Base Purchase Price..................................... 10 3.3

  • Cash Purchase Price The term "Cash Purchase Price" shall have the meaning set forth in Section 2.3(a).

  • Purchase Price Payment Purchaser shall deliver to SAFEDOX the sum of $5,000 in payment of the 16,667 shares of Common Stock purchased by Purchaser hereunder, a per share price of $.30, which payment shall be delivered as provided in paragraphs VI and VII hereinbelow.

  • The Purchase Price Notwithstanding the termination of the Option, Grantee will be entitled to exercise its rights under this Section 6(c) if it has exercised such rights in accordance with the terms hereof prior to the termination of the Option.

  • Deferred Purchase Price On each Business Day on and after the Final Payout Date, the Servicer, on behalf of the Agent, shall pay to the SPV an amount equal to the Collections of Receivables received by the SPV less the accrued and unpaid Servicing Fee (and the SPV (or the Servicer on its behalf) shall apply such Collections in the manner described in Section 2.14).

  • Purchase Price Payments 23 Section 10.02. THE PURCHASER NOTE.........................................................................23 ARTICLE XI Confidentiality.......................................................................................24 ARTICLE XII Term.................................................................................................25

  • Purchase Price; Payment of Purchase Price In addition to the Assumed Liabilities described below, the aggregate consideration for the Subject Assets (the “Purchase Price”) shall be the amount equal to: $2,000,000. The Purchase Price shall be subject to adjustment as set forth in Section 1.7 below as so adjusted.

  • Purchase Price The Purchase Price for each Mortgage Loan shall be the percentage of par as stated in the related Purchase Price and Terms Agreement (subject to adjustment as provided therein), multiplied by the aggregate principal balance, as of the related Cut-off Date, of the Mortgage Loans listed on the related Mortgage Loan Schedule, after application of scheduled payments of principal due on or before the related Cut-off Date, but only to the extent such payments were actually received. The initial principal amount of the related Mortgage Loans shall be the aggregate principal balance of the Mortgage Loans, so computed as of the related Cut-off Date. If so provided in the related Purchase Price and Terms Agreement, portions of the Mortgage Loans shall be priced separately. In addition to the Purchase Price as described above, the Purchaser shall pay to the Seller, at closing, accrued interest on the current principal amount of the related Mortgage Loans as of the related Cut-off Date at the weighted average Mortgage Interest Rate of those Mortgage Loans. The Purchase Price plus accrued interest as set forth in the preceding paragraph shall be paid to the Seller by wire transfer of immediately available funds to an account designated by the Seller in writing.

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