Interim Settlements Sample Clauses
Interim Settlements. Within 5 Business Days following each Reset Date of the type referred to in clause (i) of the definition of Reset Date, the Companies shall (i) deliver the Interim Settlement Amount, if any, in Interim Settlement Shares to LBF. Interim Settlement Shares shall be the subject of a registration statement covering any sale of such Interim 38 Settlement Shares by LBI that has been declared effective under the Securities Act by the Commission (an "Effective Registration Statement"). Interim Settlement Shares shall be registered in the stock register of the Companies as instructed by LBF and shall be held by LBI or a custodian or depository designated by LBI. If the Companies are unable to deliver Interim Settlement Shares in accordance with the preceding sentence, the Companies shall deliver "restricted" Interim Settlement Shares that are not the subject of an Effective Registration Statement in an amount equal to the Interim Settlement Amount. If the Interim Settlement Shares are not the subject of an Effective Registration Statement, the Companies shall deliver additional Interim Settlement Shares equal to 20% of the Interim Settlement Shares. At such time as the Interim Settlement Shares are the subject of an Effective Registration Statement, the Companies may elect to have returned all additional Interim Settlement Shares delivered pursuant to the preceding sentence. On any Reset Date, if Interim Settlement Shares are held by LBF, LBF shall deliver to the Companies within five (5) Business Days after such Reset Date, the amount in Interim Settlement Shares by which the amount in Interim Settlement Shares held by LBF (valued at the Closing Price on such Reset Date) plus any cash amounts in the collateral account exceeds the Interim Settlement Amount (or 120% of the Interim Settlement Amount, in the event that LBF holds restricted Interim Settlement Shares that are not the subject of an Effective Registration Statement). Distributions on the Interim Settlement Shares will be deposited in a collateral account at LI or a custodian or depositary designated by LBI. All Interim Settlement Shares will be, when delivered, duly authorized, validly issued, fully paid and non-assessable. Interim Settlement Shares shall not be voted by LBF or LBI. All distributions received in respect of the Interim Settlement Shares shall be held in the collateral account at LBI or a depositary designated by LBI. The cash amounts in the collateral account will be immediately returned to...
Interim Settlements. The parties hereby direct the Collateral Agent, and the Collateral Agent agrees, to deliver to Share Purchaser from the Collateral Shares on the applicable delivery date any Seller Interim Settlement Shares to which Share Purchaser is entitled under Section 2.5(a) of the Stock Purchase Agreement. Share Seller agrees that delivery by Share Purchaser to the Collateral Agent for credit to the Collateral Account of any Purchaser Interim Settlement Shares required to be delivered by Share Purchaser pursuant to Section 2.5(b) of the Stock Purchase Agreement shall discharge Share Purchaser's obligations under the Stock Purchase Agreement with respect to such delivery.
Interim Settlements. With respect to each day during the Term, ▇▇▇▇ shall calculate, as provided in Section 8.1(c) of the Monetization Master Agreement, an Interim Lien Settlement which shall be due from one Party to the other and settled as provided therein and shall take into account any Advances or prepayments required to be made pursuant to Section 5.2(c); provided that ▇▇▇▇ shall not be obligated to pay any such Interim Lien Settlement to the Company at any time that a Default or Event of Default with respect to the Company or any Transaction Party has occurred and is continuing. Such Interim Lien Settlement shall constitute, (i) in respect of Feedstock (x) if paid by ▇▇▇▇ to the Company in respect of Feedstock, an increase in the Feedstock Lien Amount and (y) if paid by the Company to ▇▇▇▇, a decrease in the Feedstock Lien Amount and (ii) in respect of Products (x) if paid by ▇▇▇▇ to the Company, an increase in the Product Lien Amount and (y), if paid by the Company to ▇▇▇▇, a decrease in the Product Lien Amount. Any Interim Lien Settlement paid by ▇▇▇▇ to the Company hereunder shall be deemed an Advance and any Interim Lien Settlement paid by the Company to ▇▇▇▇ hereunder shall be deemed a repayment of an Advance, in each case, for all purposes of this Agreement and the other Transaction Documents. 4159-0352-3661.14
Interim Settlements