First Year Cap definition

First Year Cap means (a) the lesser of (x) $3,000,000 and (y) 75% of Seller’s Total Share Value, minus (b) the aggregate value of Time-Based Shares already used to satisfy prior indemnification claims by Parent Indemnified Parties pursuant to the terms of this Agreement.
Sample 1

Examples of First Year Cap in a sentence

  • Borrower Qualification Numeric – Integer 3 99 Always See Coding 1 = Start Rate 2 = First Year Cap Rate 3 = I/O Amount 4 = Fully Indexed 5 = Min Payment 98 = Other 99 = Unknown 119 City The name of the city.

  • Borrower Qualification Numeric – Integer 3 99 Always See Coding 1 = Start Rate 2 = First Year Cap Rate 3 = I/O Amount 4 = Fully Indexed 5 = Min Payment 98 = Other 99 = Unknown 118 Percentage of Down Payment from Borrower Own Funds Include only borrower funds, do not include any gift or borrowed funds.

  • At Sublandlord's option, Sublandlord shall provide Subtenant on or before the Sublease Commencement Date, and the first day of each calendar year commencing after the Sublease Commencement Date, with a reasonable written estimate of the amount of Subtenant's Share of Total Taxes for the following year (or partial year), and Subtenant shall pay with each installment of Monthly Base Rein one-twelfth (1/12) of the estimated Total Taxes, subject to the First Year Cap.

  • Subject to the First Year Cap, Subtenant shall pay to Sublandlord Subtenant's Share of Total Taxes within fifteen (15) calendar days after receipt of the statement.

  • If Sublandlord elects to charge Subtenant monthly estimates, then within fifteen (15) calendar days after Subtenant's receipt of the year-end statement described above, Subtenant shall pay any deficiency in the actual Total Operating Costs for the prior calendar year, subject to the First Year Cap.

  • Subject to the First Year Cap, Subtenant shall pay to Sublandlord Subtenant's Share of Total Operating Costs within fifteen (15) calendar days after receipt of the statement.

  • The First Year Cap applies only to Total Operating Costs and Total Taxes for the Original Rentable Area of the Premises, and not to any additional space leased by Subtenant from Sublandlord pursuant to Subtenant's First Offer Right described in Section 12 hereof.

  • Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.Dated: February 6, 2007 /s/ Stephen D.

  • If Sublandlord elects to charge Subtenant monthly estimates, then within fifteen (15) calendar days after Subtenant's receipt of the year-end statement described above, Subtenant shall pay any deficiency in the actual Total Taxes for the prior calendar year, subject to the First Year Cap.

  • At Sublandlord's option, Sublandlord shall provide Subtenant on or before the Sublease Commencement Date, and the first day of each calendar year commencing after the Sublease Commencement Date, with a reasonable written estimate of the amount of Subtenant's Share of Total Operating Costs for the following year (or partial year), and Subtenant shall pay with each installment of Monthly Base Rent one-twelfth (1/12) of the estimated Total Operating Costs, subject to the First Year Cap.

Related to First Year Cap

  • First Year means the intake group of Students for the most junior class or year in a school.

  • Base Year Value means the assessed value of eligible property January 1 preceding the execution of the agreement plus the agreed upon value of eligible property improvements made after January 1 but before the execution of the agreement.

  • Earn-Out Period has the meaning set forth in Section 2.6.1.

  • Earnout Period has the meaning set forth in Section 2.5(a)(iii).

  • Year 2 means the year after year 1; year 3 means the year after year 2, year 4 means the year after year 3, and so on; and

  • Three-Year Period means, with respect to a Restatement, the three completed fiscal years immediately preceding the date that the Board, a committee of the Board, or the officer or officers of the Company authorized to take such action if Board action is not required, concludes, or reasonably should have concluded, that the Company is required to prepare such Restatement, or, if earlier, the date on which a court, regulator or other legally authorized body directs the Company to prepare such Restatement. The “Three-Year Period” also includes any transition period (that results from a change in the Company’s fiscal year) within or immediately following the three completed fiscal years identified in the preceding sentence. However, a transition period between the last day of the Company’s previous fiscal year end and the first day of its new fiscal year that comprises a period of nine to 12 months shall be deemed a completed fiscal year.

  • EBITDA Target means the Company's projected earnings before interest, taxes, one-time transition expenses, non-cash compensation expense charges, depreciation and amortization, as contained in the Company's budget for the Applicable Period and which is approved by the Board (without reference to any adjustments or revision, upwards or downwards, to such projected earnings which are subsequently approved by the Board as part of any subsequent revision to such budget), and (ii) the term "Financial Results" shall mean the Company's EBITDA calculated by reference to the Company's financial statements for the Applicable Period as filed with the Securities and Exchange Commission (the "SEC").

  • Minimum Quarterly Distribution means $0.35 per Unit per Quarter (or with respect to the period commencing on the Closing Date and ending on September 30, 2005, it means the product of $0.35 multiplied by a fraction of which the numerator is the number of days in such period and of which the denominator is 92), subject to adjustment in accordance with Section 6.6 and Section 6.9.

  • Year 3 means the tax year preceding the current tax year.

  • Year 1 means the year next following the export date and “year” followed immediately by any other numeral has a corresponding meaning; reference in this Agreement to an Act shall include the amendments to such Act for the time being in force and also any Act passed in substitution therefor or in lieu thereof and the regulations for the time being in force thereunder; power given under any clause of this Agreement other than clause 17 hereof to extend any period or date shall be without prejudice to the power of the Minister under the said clause 17; marginal notes shall not affect the interpretation or construction hereof; the phases in which it is contemplated that this Agreement will operate are as follows —

  • Payout Period means the time frame during which certain benefits payable hereunder shall be distributed. Payments shall be made in monthly installments commencing on the first day of the month following the occurrence of the event which triggers distribution and continuing for a period of one hundred eighty (180) months. Should the Executive make a Timely Election to receive a lump sum benefit payment, the Executive's Payout Period shall be deemed to be one (1) month.

  • Budget year means the financial year of the municipality for which an annual budget is to be approved in terms of section 16(1) of the MFMA;

  • M1 Target Amount With respect to any Distribution Date, an amount equal to the lesser of (a) the product of (i) 70.00% and (ii) the Pool Balance for such Distribution Date and (b) the amount, if any, by which (i) the Pool Balance for such Distribution Date exceeds (ii) 0.50% of the Cut-off Date Balance.

  • Quarterly Distribution Date means the last Business Day of the month following the end of each calendar quarter after the Effective Date; provided, however, that if the Effective Date is within 45 days of the end of a calendar quarter, the first Quarterly Distribution Date will be the last Business Day of the month following the end of the first calendar quarter after the calendar quarter in which the Effective Date falls.

  • M3 Target Amount With respect to any Distribution Date, an amount equal to the lesser of (a) the product of (i) 85.50% and (ii) the Pool Balance for such Distribution Date and (b) the amount, if any, by which (i) the Pool Balance for such Distribution Date exceeds (ii) 0.50% of the Cut-off Date Balance.

  • Estimated Incremental Quarterly Tax Amount has the meaning assigned to such term in Section 6.9.

  • Income year means any year or accounting period beginning 1 July of one calendar year and ending 30 June of the following calendar year or any other period that the Trustees by resolution adopt;

  • Run-Out Period means a period after the close of a Plan Year or other period during which Participants in a flexible spending arrangement (FSA) may request reimbursement for expenses incurred during the Period of Coverage.

  • M5 Target Amount With respect to any Distribution Date, an amount equal to the lesser of (a) the product of (i) 94.50% and (ii) the Aggregate Pool Balance for such Distribution Date determined as of the last day of the related Collection Period and (b) the amount, if any, by which (i) the Aggregate Pool Balance for such Distribution Date determined as of the last day of the related Collection Period exceeds (ii) the Targeted Overcollateralization Amount for such Distribution Date.

  • Earn-Out Payments has the meaning set forth in Section 2.3(a).

  • Earn-Out Payment has the meaning set forth in Section 2.5(a).

  • First Target Distribution means $0.4025 per Unit per Quarter (or, with respect to the period commencing on the Closing Date and ending on September 30, 2005, it means the product of $0.4025 multiplied by a fraction of which the numerator is the number of days in such period, and of which the denominator is 92), subject to adjustment in accordance with Section 6.6 and Section 6.9.

  • Earn-Out Amount has the meaning set forth in Section 2.07(a).

  • M2 Target Amount For any Distribution Date, an amount equal to the lesser of (a) the product of (1) 75.40% and (2) the Aggregate Pool Balance for such Distribution Date determined as of the last day of the related Collection Period and (b) the amount, if any, by which (1) the Aggregate Pool Balance for such Distribution Date determined as of the last day of the related Collection Period exceeds (2) the Overcollateralization Floor.

  • Relevant Year t means the Financial Year for the purposes of which any calculation falls to be made; "Relevant Year t-1" means the Financial Year preceding Relevant Year t, and similar expressions shall be construed accordingly;