Monthly Target Amount definition
Monthly Target Amount means (I) for each month of the fiscal year of the Company ended June 30, 1996, the following amount set forth opposite such month: Monthly Target Month Year Amount ----- ---- ------------------ July 1995 $ 2,857,903 August 1995 2,605,852 September 1995 1,835,830 October 1995 1,713,422 November 1995 204,494 December 1995 805,051 January 1996 (290,770) February 1996 (513,025) March 1996 504,432 April 1996 668,572 May 1996 1,454,238 June 1996 2,249,899 --------- Total $14,095,898 =========== ; and (II) for each month of each subsequent fiscal year of the Company during the Term, an amount equal to a reasonable forecast of the monthly expected amount of the Bonusable Earnings for each month of such fiscal year which the Board shall in good faith establish by resolution as the Target Amount within thirty (30) days after the first day of such fiscal year and which shall, in the aggregate, equal the Target Amount for such fiscal year.
Monthly Target Amount means (I) for each month of the fiscal year of the Company ended June 30, 1996, the following amount set forth opposite such month:
Monthly Target Amount means the “Post-Sale Target Amount.” Similarly, if Purchaser sells the Cumberland County Property known as Village at Cliffdale, during the Revenue Assurance Period and whether before or after any sale of the Cumberland Trace property, then the Monthly Target Amount shall be reduced by Two Hundred Thirty-Four Thousand Eight Hundred Dollars ($234,800.00) and/or if Purchaser sells the Cumberland County Property known as Morganton Place, during the Revenue Assurance Period, then the Monthly Target Amount shall be reduced by One Hundred Ninety-Nine Thousand Dollars ($199,000.00). In the event of such reductions triggered by the sale of the Village at Cliffdale property and/or the Morganton Place property, then all references in this Agreement to “Monthly Target Amount,” shall be reduced by the amount associated with each such property sold.
Examples of Monthly Target Amount in a sentence
The WO Operating Income of the Sellers for each full calendar month between the Execution Date and the Closing Date shall be at least 90% of the WO Operating Income Monthly Target Amount; provided, however, that the WO Operating Income and the WO Operating Income Monthly Target Amount shall be adjusted accordingly in the event that the Waxhaw Lease Assignment is not consented to by the landlord thereunder and the Purchase Price Adjustment applies.