Common use of Payment Offset Clause in Contracts

Payment Offset. At or prior to the Closing, Purchaser shall contribute $31,000,000 to one or more of the Purchased Entities, at Purchaser’s election (with respect to the identity of the applicable Purchased Entity), and such capital contribution shall be deemed to be paid in respect of a portion of the Licensed Sports Business Purchase Price, ShopRunner Purchase Price and the RueLaLa Purchase Price payable at the Closing.