Shortfalls Sample Clauses
The Shortfalls clause defines the procedures and responsibilities when there is a deficiency or failure to meet specified requirements, such as delivery quantities, quality standards, or performance metrics. In practice, this clause typically outlines how shortfalls are identified, reported, and remedied, and may specify timelines for correction or compensation, such as requiring the supplier to deliver the missing goods or provide a refund. Its core function is to ensure that any gaps between contractual expectations and actual performance are addressed promptly and fairly, thereby protecting the interests of the parties and maintaining the integrity of the agreement.
POPULAR SAMPLE Copied 1 times
Shortfalls. If the amounts described in Section 2.3 are insufficient to pay the Series 2005-2 Monthly Interest on any Distribution Date, payments of interest to the Series 2005-2 Noteholders will be reduced on a prorata basis by the amount of such deficiency. The aggregate amount, if any, of such deficiency on any Distribution Date shall be referred to as the “Series 2005-2 Shortfall.” Interest shall accrue on the Series 2005-2 Shortfall at the Series 2005-2 Note Rate.
Shortfalls. (i) If the amounts described in Section 2.3 are insufficient to pay the Class A Monthly Interest on any Distribution Date, payments of interest to the Class A 45 Noteholders will be reduced on a pro rata basis by the amount of such deficiency. The aggregate amount, if any, of such deficiency on any Distribution Date, together with the aggregate unpaid amount of any such deficiencies with respect to all prior Distribution Dates, shall be referred to as the “Class A Shortfall”. Interest shall accrue on the Class A Shortfall at the Class A Note Rate.
(ii) If the amounts described in Section 2.3 are insufficient to pay the amounts described in clauses (i) and (ii) of Section 2.3(a) and the Class B Monthly Interest on any Distribution Date, payments of interest to the Class B Noteholders will be reduced on a pro rata basis by the amount of such deficiency. The aggregate amount, if any, of such deficiency on any Distribution Date (which deficiency on any Distribution Date shall not exceed the Class B Monthly Interest for the Series 2023-5 Interest Period ended on the day preceding such Distribution Date), together with the aggregate unpaid amount of any such deficiencies with respect to all prior Distribution Dates, shall be referred to as the “Class B Shortfall”. Interest shall accrue on the Class B Shortfall at the Class B Note Rate.
(iii) If the amounts described in Section 2.3 are insufficient to pay the amounts described in clauses (i) through (iv) of Section 2.3(a) and the Class C Monthly Interest on any Distribution Date, payments of interest to the Class C Noteholders will be reduced on a pro rata basis by the amount of such deficiency. The aggregate amount, if any, of such deficiency on any Distribution Date (which deficiency on any Distribution Date shall not exceed the Class C Monthly Interest for the Series 2023-5 Interest Period ended on the day preceding such Distribution Date), together with the aggregate unpaid amount of any such deficiencies with respect to all prior Distribution Dates, shall be referred to as the “Class C Shortfall”. Interest shall accrue on the Class C Shortfall at the Class C Note Rate.
(iv) If the amounts described in Section 2.3 are insufficient to pay the amounts described in clauses (i) through (vi) of Section 2.3(a) and the Class D Monthly Senior Interest on any Distribution Date, payments of interest to the Class D Noteholders will be reduced on a pro rata basis by the amount of such deficiency. The aggregate amount, if...
Shortfalls. (i) If the amounts described in Section 2.3 are insufficient to pay the Class A Monthly Interest on any Distribution Date, payments of interest to the Class A Noteholders will be reduced on a pro rata basis by the amount of such deficiency. The aggregate amount, if any, of such deficiency on any Distribution Date, together with the aggregate unpaid amount of any such deficiencies with respect to all prior Distribution Dates, shall be referred to as the “Class A Shortfall”. Interest shall accrue on the Class A Shortfall at the Class A Note Rate.
Shortfalls. In the event that the balance referred to in clause 11.1 is insufficient to pay in full the whole of the Outstanding Indebtedness, the Mortgagee shall be entitled to collect the shortfall from the Owner or any other person liable for the time being therefore.
Shortfalls. Any shortfalls that occur due to non-sufficient funds in the Account, return of ACH transactions, dispute of ACH transactions, or other reversals, for which User will immediately pay to Autobooks all such amounts.
Shortfalls. In the event that the balance referred to in clause 2.3 of the Assignment of Earnings and Insurances is insufficient to pay in full the whole of the Outstanding Indebtedness, the Collateral Agent shall be entitled to collect the shortfall from the Owner or any other person liable for the time being therefor.
Shortfalls. If a Paying Agent pays any amounts to the US$ Noteholders at a time when it has not received payment in full in respect of the relevant US$ Notes in accordance with Clause 3.1 (the excess of the amounts so paid over the amounts so received being the Shortfall), the Issuer will, at the direction of the Manager (and the Manager agrees that it will give such written direction), in addition to paying amounts due under ▇▇▇▇▇▇ 3.1, pay (as an expense of the Series Trust) to the Paying Agent on demand interest (at a rate which represents the Paying Agent’s reasonable cost of funding the Shortfall) on the Shortfall (or the unreimbursed portion thereof) until the receipt in full by the Paying Agent of the Shortfall.
Shortfalls. There shall be no pay back for shortfall of annual working hours.
Shortfalls. (a) If at the end of the first Contract Year, iVillage has not provided AT&T with a minimum of [*] Clickthrus (as audited by a third party in accordance with Section 3.7) during the first Contract Year ("Clickthru Shortfall") then iVillage will continue to perform under this Agreement (without any change to Anchor Positions, Guaranteed Impression Levels, etc.) during a "Make Good Period" not to exceed 3 months, provided AT&T has not exercised its termination right under Section 10.3. AT&T shall have no obligation to make any Quarterly Minimum Payments or other payments during the Make Good Period unless and until the Clickthru Shortfall is covered. If AT&T does not exercise its termination right under Section 10.3, regardless of whether or not the Clickthru Shortfall has been covered in such 3 month period Make Good Period, AT&T will resume making Quarterly Minimum Payments as of the next following Contract Quarter.
(b) If there is a Clickthru Shortfall at the end of the second Contract Year (meaning that iVillage has not delivered at least [*] Clickthrus in the case that the Annual Minimum for the second Contract Year is $[*]; and [*] Clickthrus during the second Contract Year in the case that the Annual Minimum for the second Contract Year is $[*]), iVillage shall have the option of either (a) requesting payment of the final Quarterly Minimum Payment, pro rated to cover the shortfall or (b) providing a make good period, for up to 6 months, and, at any time during such 6 month period, requesting payment of the final pro rated Quarterly Minimum Payment. iVillage will continue during any such make good period to perform under this Agreement (without any change to Anchor Positions, Guaranteed Impression Levels, etc.)
Shortfalls. (i) If, for any Contract Quarter, Actual Throughput is less than the Minimum Throughput Commitment, then Lion shall pay Logistics an amount (a “Shortfall Payment”) equal to the difference between (i) the Minimum Throughput Commitment multiplied by the Throughput Fee and (ii) the aggregate Throughput Fees for such Contract Quarter payable under Section 2(c)(i).
(ii) The Parties acknowledge and agree that there shall be no carry-over of deficiency volumes with respect to the Minimum Throughput Commitment and the payment by Lion of the Shortfall Payment shall relieve Lion of any obligation to meet such Minimum Throughput Commitment for the relevant Contract Quarter. The Parties further acknowledge - 12 - and agree that there shall not be any carry-over of volumes in excess of the Minimum Throughput Commitment to any subsequent Contract Quarter.