Aggregate Monetary Obligations definition
Aggregate Monetary Obligations means the sum of all obligations for the payment of money by Seller or Buyer (to a third party) under the Immaterial Contracts that are legally binding on Buyer immediately following the Closing Date and for which Buyer could not avoid by terminating such Contracts to the extent Buyer could do so without breaching such Contracts.
Examples of Aggregate Monetary Obligations in a sentence
In the event that the Aggregate Monetary Obligations of Buyer, effective as of the Closing Date, under all of the Immaterial Contracts, exceeds $100,000, then on or before the end of such 45 day period, Buyer shall have the right (exercisable in its sole discretion) to designate one or more Immaterial Contracts as “Designated Immaterial Contracts”, provided that after giving effect to each such designation, Buyer’s Aggregate Monetary Obligations under all other Immaterial Contracts is at least $100,000.