Make Whole. (a) In the event it shall be determined pursuant to Section 2(b) below that any Payment (as defined below) would be subject to the Excise Tax (as defined below), then the Executive shall be entitled to receive from the Company an additional payment (the “Gross-Up Payment”) in an amount such that after payment by the Executive of all taxes (including any interest or penalties imposed with respect to such taxes), including, without limitation, any income taxes (and any interest and penalties imposed with respect thereto) and Excise Tax imposed upon the Gross-Up Payment, but excluding any taxes and penalties imposed pursuant to Section 409A of the Internal Revenue Code of 1986, as amended (the “Code”), the Executive retains an amount of the Gross-Up Payment equal to the Excise Tax imposed upon the Payments. The Company’s obligation to make Gross-Up Payments under this Section 2 shall not be conditioned upon the Executive’s termination of employment.
Make Whole. 12.3.1 Where the issue submitted to Arbitration involves the payment of money to a grievant retroactively or otherwise, the Arbitrator shall have the authority to include in the award a direction for the payment of money retroactively or otherwise, but limited to making the grievant whole and no more. With respect to back wages only "make whole" means reimbursing the grievant for the wages he/she would have made if employment had been continuous, less wages actually received by the grievant, from any other source, Workers' Compensation, Unemployment Compensation, or other monetary compensation for which the grievant would not have been eligible for had the grievant not been suspended or discharged, during the period in question.
Make Whole. Notwithstanding anything to the contrary in the Indenture or the Notes, upon any redemption, repurchase, retirement of the Notes in connection with a Fundamental Change, Event of Default, Redemption or similar event, the Company shall, on a contemporaneous basis, (x) issue to the Holder, without any action on the part of the Holder, 100% of the remaining number of shares the Holder would otherwise have been entitled to receive pursuant to Section 3.01(A), through to and including the Maturity Date (provided, that, in the event such redemption, repurchase, retirement or conversion or similar event involves fewer than all of the then-outstanding Notes, such issuance will be made on a pro rata basis with the corresponding amount of Notes that are redeemed, repurchased, retired, converted or otherwise extinguished under this Section 3.01(H)) and (y) make any payment that would have otherwise been required to be made pursuant to Section 3.01(G) relating to such shares issued pursuant to subsection (x) as if the date of such redemption, repurchase or retirement, were a Stock Shortfall Payment Date and the period commencing on the day of and inclusive of the immediately preceding Stock Shortfall Payment Date (or, if none, the Issue Date) and ending on and inclusive of such date were the relevant Stock Shortfall Period (the “Make-Whole Payment”).
Make Whole. If the Conversion Date Closing Price is more than the First Registration Closing Price (as defined below), the Maker shall pay to Payee an amount equal to (i) the total number of Conversion Shares multiplied by (ii) the amount obtained by subtracting (A) the First Registration Closing Price from (B) the Conversion Date Closing Price (the “Make Whole Payment”). The Make Whole Payment shall be paid to Payee, at the sole discretion of Buyer, in: (i) immediately available funds or (ii) the form of additional shares of Iconix Common Stock calculated by dividing the Make Whole Payment by the First Registration Closing Price (the “Additional Shares”); provided, that if Buyer pays the Make Whole Payment in Additional Shares, such Additional Shares shall be registered pursuant to the terms of the Registration Rights Agreement. In the event that all of the Additional Shares have not already been registered for resale pursuant to the Initial Registration Statement at time of delivery, then those Additional Shares which have not been included shall be registered in a subsequent registration statement (the “Subsequent Registration Statement”) in accordance with Section 1(b) of the Registration Rights Agreement (the “Subsequent Registration”). In connection with any such Subsequent Registration, if the product of (A) the Second Registration Closing Price times (B) the number of Additional Shares which were not included in the Initial Registration Statement is less than the amount of (C) the Make Whole Payment, after deducting the amount from the Make Whole Payment, if any, of (1) the value of the Additional Shares which were included in the Initial Registration Statement times (2) the First Registration Closing Price (the amount calculated in this sentence being hereafter referred to as the “Deficiency”). Maker shall pay the Deficiency in immediately available funds to Payee within two days after the Second Valuation Period. As used herein the following terms have the definitions set forth below:
Make Whole. If within twelve months following the date of the termination of Executive’s employment by the Company Parties without Cause or as a result of Executive’s death or Disability or Executive’s resignation for Good Reason (i) a Sale of the Company or a Public Offering occurs and (ii) the distributions per unit received (whether or not received within such twelve month period) in the liquidation of Investors LLC by holders of vested Common Units in respect of their vested Common Units or the public offering price per share of common stock of the Company (net of any underwriting discounts but including the fair market value of all dividends and distributions declared or paid by the Company to the holders of Common Stock after the date of Executive’s termination of employment to and including the date of such transaction), as the case may be, exceed the price per unit paid for any Vested Securities as determined in accordance with subparagraph (g) above, each seller of Vested Securities shall be entitled to receive an upward adjustment in the Repurchase Price for the Vested Securities sold by such seller, if any, pursuant to a Call Notice. The excess of (x) the amount which such sellers of Vested Securities would have received in such Sale of the Company or Public Offering assuming the sale in such transaction of all Vested Securities purchased pursuant to such Call Notice, over (y) the amount which such sellers of Vested Securities received from the sale of Vested Securities upon exercise of the Call Option (the amount of such excess, the “Additional Proceeds”) shall be paid to the applicable seller of Vested Securities by the buyer thereof by certified or cashier’s check or wire transfer of funds to the applicable seller of Vested Securities upon consummation of such Sale of the Company (or at such later time as holders of Investors LLC Common Units receive the distributions described in clause (ii) above) or upon the consummation of such Public Offering, as the case may be.
Make Whole. Without limiting the foregoing, the Company agrees that, in the event that any of the representations and warranties in Section 3.2, 3.3, 3.5, 3.7 or 3.11 are not true and correct in all respects, notwithstanding anything set forth in the Disclosure Schedule relating to such representations and warranties, and as a result the Company pays any monetary damages or issues any additional securities to any party to a prior agreement with the Company or whose consent is otherwise required for the Company to enter into and perform this Agreement and the Registration Rights Agreement, then the Losses to which a Buyer is subject shall be grossed-up so as to preserve the economic substance of this Agreement (as of the Closing) as if such monetary damages or issuances of additional securities had not occurred, including by the Company shall taking appropriate action to ensure that a Buyer has not been diluted, directly or indirectly, by any issuance of additional securities contemplated by this subsection (c), and ensuring that a Buyer does not bear the portion of such monetary damages that corresponds to its ownership percentage as of the Closing.
Make Whole. Dealer or its affiliate may sell such Shares or Share Termination Delivery Units, as the case may be, during a period (the “Resale Period”) commencing on the Exchange Business Day following delivery of such Shares or Share Termination Delivery Units, as the case may be, and ending on the Exchange Business Day on which Dealer completes the sale of all such Shares or Share Termination Delivery Units, as the case may be, or a sufficient number of Shares or Share Termination Delivery Units, as the case may be, so that the realized net proceeds of such sales exceed the Freely Tradeable Value (such amount of the Freely Tradeable Value, the “Required Proceeds”). If any of such delivered Shares or Share Termination Delivery Units remain after such realized net proceeds exceed the Required Proceeds, Dealer shall return such remaining Shares or Share Termination Delivery Units to Issuer. If the Required Proceeds exceed the realized net proceeds from such resale, Issuer shall transfer to Dealer by the open of the regular trading session on the Exchange on the Exchange Business Day immediately following the last day of the Resale Period the amount of such excess (the “Additional Amount”) in cash or in a number of additional Shares or Share Termination Delivery Units, as the case may be, (“Make-whole Shares”) in an amount that, based on the Relevant Price on the last day of the Resale Period (as if such day was the “Valuation Date” for purposes of computing such Relevant Price), has a dollar value equal to the Additional Amount. The Resale Period shall continue to enable the sale of the Make-whole Shares in the manner contemplated by this Section 8(c). This provision shall be applied successively until the Additional Amount is equal to zero, subject to Section 8(e).
Make Whole. Section 4(b) of the Severance Agreement is amended and restated as set forth below:
Make Whole. The definitive documents will provide for a make-whole upon the occurrence of certain events to be determined.
Make Whole. (a) Not less than 30 days prior to the Closing, GWG may at its option secure a valuation opinion from a nationally recognized valuation firm to the effect that the MLP Units will have, as of the Closing Date, a fair value of not less than $10.00 per unit. In the event such opinion ascribes a fair value of less than $9.00 per unit to the MLP Units, GWG and the Company shall engage a second nationally recognized valuation firm, as they shall mutually agree, to conduct a final and binding valuation at the cost of the Company. If, and only in the event that, such final valuation ascribes a value to the MLP Units of less than $9.00 per unit, the Company undertakes to provide such additional number of MLP Units to GWG at Closing as shall be necessary to provide an aggregate value to GWG equal to the value of the Consideration. The Company agrees to assist and cooperate with GWG and the valuation firms in completing such valuations.
