FASA Payment definition
FASA Payment means the dollar amount due to FASA in the event of a change of control pursuant to that certain Royalty Agreement dated March 14, 2001 between FASA and the Company, less any offset taken by the Company. If paid prior to July 15, 2003, the FASA Payment (i) is expected to be approximately $1,661,185, and (ii) for purposes of this Agreement shall not exceed $1,800,000.
Examples of FASA Payment in a sentence
Between the date of formation of the Merger Subsidiary and the Effective Time, the Acquiror Parties will ensure that the Merger Subsidiary has no material assets or liabilities, other than, immediately prior to Closing, the Initial Consideration, the FASA Payment, and liabilities incident to the formation of the Merger Subsidiary.
The Company shall have received written confirmation from FASA as to the amount of the FASA Payment.