Default Payment Amount definition
Default Payment Amount means, as of a Default Payment Date, an amount, if any, as determined by the Accounting Firm, equal to the lesser of (i) the excess, if any, of (x) the Base Amount determined as of such Default Payment Date over (y) the 30-Day Average Market Price determined as of such Default Payment Date and (ii) $3.25.
Default Payment Amount means, with respect to each CPR, as of a Default Payment Date (as defined herein), an amount, equal to the difference between (i) $2.00 and (ii) the aggregate of all Contingent Payments paid or provided for, in accordance with the terms hereof, from the Effective Date through and including such Default Payment Date.
Default Payment Amount means the sum of (i) the greater of: (A) 120% of the outstanding principal amount of this Note, or (B) the outstanding principal amount of this Note divided by the Conversion Price on (x) the date the Default Payment Amount is demanded or otherwise due or (y) the date the Default Payment Amount is paid in full, whichever is less, multiplied by the Market Price on (x) the date the Default Payment Amount is demanded or otherwise due or (y) the date the Default Payment Amount is paid in full, whichever is greater, and (ii) all other amounts, costs, expenses and liquidated damages due in respect of this Note, including accrued and unpaid interest on the unpaid principal amount of this Note to the date of payment, including any Default Interest. A “Change in Control Transaction” will be deemed to exist if (i) there occurs any consolidation, merger or other business combination of the Borrower with or into any other corporation or other entity or person (whether or not the Borrower is the surviving corporation), or any other corporate reorganization or corporate transaction or series of related transactions in which in any of such events the voting stockholders of the Borrower prior to such event cease to own 50% or more of the voting power, or corresponding voting equity interests, of the surviving corporation after such event (including without limitation any “going private” transaction under Rule 13e-3 promulgated pursuant to the Exchange Act or tender offer by the Borrower under Rule 13e-4 promulgated pursuant to the Exchange Act for 20% or more of the Borrower’s Common Stock), (ii) any person (as defined in Section 13(d) of the Exchange Act), together with its affiliates and associates (as such terms are defined in Rule 405 under the Securities Act), other than ▇▇▇▇▇ ▇▇▇▇▇▇ or his affiliates, beneficially owns or is deemed to beneficially own (as described in Rule 13d-3 under the Exchange Act without regard to the 60-day exercise period) in excess of 35% of the Borrower’s voting power, (iii) there is a replacement of more than one-half of the members of the Borrower’s Board of Directors which is not approved by those individuals who are members of the Borrower’s Board of Directors on the date thereof, (iv) in one or a series of related transactions, there is a sale or transfer of all or substantially all of the assets of the Borrower, determined on a consolidated basis, or (v) the Borrower enters into an agreement providing for an event set forth in (i), (i...
Examples of Default Payment Amount in a sentence
The Non-Defaulting Party shall not have to enter into any transactions to replace the Agreement in order to establish an Event of Default Payment Amount.
The Yearly GMR Default Payment Amount and the Yearly GMR Catch-Up Payment Amount shall be adjusted ratably based on Licensee’s and the other Members’ relative ownership of Class A Units.
Until this Lease has been terminated and Lessee has been dispossessed of the Leased Property, payment of the Default Payment Amount shall not affect Lessee's obligations in respect of Additional Rent, which shall survive.
In addition to the foregoing payment, the Company shall, for each calendar month in which a Registration Default occurred and/or existed, make an additional cash payment to each Holder equal to the Registration Default Payment Amount (pro rated for a partial month), and such payment shall be due no later than two (2) Business Days following the last day of such calendar month.
More Definitions of Default Payment Amount
Default Payment Amount is defined in Section 13.1 of the Lease.
Default Payment Amount. The net amount payable in the event of an Event of Default by one party to the other, as reasonably calculated by the Non-Defaulting Party by aggregating and setting-off, as applicable, and without duplication:
(i) the outstanding payments due (or that would have been due but for Section 6) under this Agreement to each party immediately prior to the Default Termination Date (as defined in Section 10);
(ii) the Replacement Value of Options to be settled under Section 10 which are unexercised immediately prior to the Default Termination Date;
(iii) the Non-Defaulting Party's Other Expenses; and
(iv) at the option of the Non-Defaulting Party, any Cash Performance Assurance or collateral or the liquidation value of Non-Cash Performance Assurance or collateral.
Default Payment Amount has the meaning set forth in Section 1.4(b)(i).
Default Payment Amount has the meaning given in Clause 8.3.