Make Good Payment Sample Clauses
A Make Good Payment clause requires one party to compensate the other if certain agreed-upon targets or conditions are not met, typically in financial or performance-based agreements. For example, if a business acquisition is based on projected earnings, and the actual earnings fall short, the seller may be required to pay the buyer the difference. This clause ensures that the receiving party is protected against underperformance or shortfalls, thereby allocating risk and providing financial assurance in case expectations are not fulfilled.
Make Good Payment. In the event of any event of default or breach by the Corporation of any terms of the Transaction Documents which breach or default has not been cured within three (3) Business Days of written notice from any Holder, in addition to, and not in substitution of, any other rights of any such Holder pursuant to the applicable Transaction Document, the Corporation shall pay to such Holder an amount equal to $210 per $1,000 of the Stated Value of the Preferred Shares held by such Holder (each, a “Make Good Payment Amount”). In each case, the Corporation shall satisfy each Make Good Payment Amount by delivering shares of Common Stock to the Holder, in an amount of shares that prices each share of Common Stock at 80% of the average of the Corporation’s lowest closing price for the 10 Trading Days prior to the subject conversion date (the “Make Good Shares”). The Corporation shall deliver the Make Good Shares to the Holder within two (2) Business Days of the subject conversion date. In the event that the Corporation does not timely deliver the Make Good Shares, the provisions of Section 4(c)(ii) regarding Conversion Failures shall apply to such shares.
Make Good Payment. (a) In this clause 12, Make Good Payment means: (i) the amount of $325 per square metre (plus GST) of lettable area of the Premises, and (ii) an amount equal to two (2) months' Base Rent plus the Tenant's Proportion of Increases in Building Outgoings payable by the Tenant under the lease (calculated at the date the Make Good Payment is made). .