Billing Target definition

Billing Target means $30,750,000 for the period beginning April 1, 2008 through and including December 31, 2008 (the “Earnout Period”) with respect to Qualified ▇▇▇▇▇▇▇▇ of the Purchaser. Within 45 days after the end of the Earnout Period, Purchaser shall prepare and deliver to Seller a written report (the “Report”) setting forth the Actual ▇▇▇▇▇▇▇▇ for Earnout Period and the calculations used to determine the Actual Earnout Issue. Notwithstanding the foregoing, in the event that the Billing Target is not achieved during the Earnout Period, the Target Earnout Issue shall be reduced to an amount equal to the product of (i) the Target Earnout Issue multiplied by (ii) the quotient, expressed as a percentage, of (A) the Actual ▇▇▇▇▇▇▇▇ for the Earnout Period divided by (B) the Billing Target for the Earnout Period (the “Actual Earnout Issue”). For example, if the Actual ▇▇▇▇▇▇▇▇ for the Earnout Period are equal to $26,137,500, the Actual Earnout Issue for the Earnout Period would be 19,691.10 Shares, calculated as 23,166 Shares (the Target Earnout Issue) multiplied by 85%, which is the quotient of $26,137,500 (the Actual ▇▇▇▇▇▇▇▇ for the Earnout Period) divided by $30,750,000 (the Billing Target for the Earnout Period).
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Billing Target shall have the meaning set forth in Section 3.2(a).
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Examples of Billing Target in a sentence

  • If Actual ▇▇▇▇▇▇▇▇ during any given Year fail to meet that Year’s Interim Billing Target set forth in Chart 1, either Party may implement the Escalation Plan.

  • As set forth in Chart 1 above, the Renewal Billing Period is broken up into ten (10) interim review periods, each a Renewal Billing Period “Year”* with its own minimum Interim Renewal Billing Target.

  • If, by the end of Year 5 the cumulative Actual ▇▇▇▇▇▇▇▇ attributed to Years 1-5 in Chart 1 above (“Years 1-5 Actual ▇▇▇▇▇▇▇▇”) do not equal or surpass Reseller’s cumulative Interim Billing Target attributed to those Years (“Years 1-5 Interim Billing Target”), then within [*] of the end of Year 5, Reseller shall pay to SFDC a “true up” amount equal to the difference between the Years 1-5 Interim Billing Target and the Years 1-5 Actual ▇▇▇▇▇▇▇▇ (the “Year 5 Shortfall Payment”).

  • Notwithstanding the foregoing, in the event that the Billing Target is not achieved during the Earnout Period, the Target Earnout Issue shall be reduced to an amount equal to the product of (i) the Target Earnout Issue multiplied by (ii) the quotient, expressed as a percentage, of (A) the Actual ▇▇▇▇▇▇▇▇ for the Earnout Period divided by (B) the Billing Target for the Earnout Period (the “Actual Earnout Issue”).

  • Reseller will not be entitled to a refund from SFDC if any Year’s Actual ▇▇▇▇▇▇▇▇ exceed that Year’s Interim Billing Target nor if any number of Years’ Actual ▇▇▇▇▇▇▇▇ exceed the Interim Billing Targets attributable to those Years (including, for example, if at any time the Actual ▇▇▇▇▇▇▇▇ during the First Renewal Billing Period exceed the First Renewal Billing Commitment).

  • At the end of each Year, the Parties will compare the Actual ▇▇▇▇▇▇▇▇ during the Year to the Interim Billing Target for that Year.

  • If Actual ▇▇▇▇▇▇▇▇ during any given Year exceed the Year’s Interim Billing Target, the overage will count towards the next Year’s Interim Billing Target.

  • For example, if the Actual ▇▇▇▇▇▇▇▇ for the Earnout Period are equal to $26,137,500, the Actual Earnout Issue for the Earnout Period would be 19,691.10 Shares, calculated as 23,166 Shares (the Target Earnout Issue) multiplied by 85%, which is the quotient of $26,137,500 (the Actual ▇▇▇▇▇▇▇▇ for the Earnout Period) divided by $30,750,000 (the Billing Target for the Earnout Period).

  • In the event that Actual SKA EBIT exceeds 100% of the SKA EBIT Target and Actual MSGI Net ▇▇▇▇▇▇▇▇ are less than the MSGI Billing Target in any Fiscal Year, then each dollar of Actual SKA EBIT in excess of the SKA EBIT Target shall be added to the Actual MSGI Net ▇▇▇▇▇▇▇▇ until such number is equal to the MSGI Billing Target; provided, however, that this provision shall not apply to the determination of Actual MSGI Net ▇▇▇▇▇▇▇▇ in Section 1.2(d).

Related to Billing Target

  • KPI Target means the acceptable performance level for a KPI as set out in relation to each KPI;

  • Soft Target means a target that will suffer minimum damage and cause minimum damage to the subject vehicle in the event of a collision.

  • Collaboration Target means the Initial Collaboration Targets set forth on Exhibit F and any Additional Target or Substitute Target that is selected in accordance with Section 3.3 of this Agreement.

  • Contract Quarter means a three-month period that commences on January 1, April 1, July 1 or October 1 and ends on March 31, June 30, September 30, or December 31, respectively.

  • Product Category means the applicable category which best describes the product as listed in this Section 94508.