Partial Payment Amount definition

Partial Payment Amount. Defined in Section 3.07.

Split View

AI-Powered Contracts

Draft, Review & Redline at the Speed of AI

Get StartedBook a Demo

Partial Payment Amount means any payment of principal on an Auto Loan which is received in advance of its scheduled due date, but excluding any prepayment in full by an Obligor or Recoveries on Defaulted Auto Loans.

Partial Payment Amount means, (a) with respect to each Retained Stockholder, an amount equal to fifty percent (50%) of the Closing Per Share Consideration multiplied by the number of Shares held by such Retained Stockholder, and (b) with respect to each retained Optionholder, fifty percent (50%) of the amount described in clause (i) of Section 2.06(a).

Examples of Partial Payment Amount in a sentence

• If any such request is delivered to Buyer less than ninety (90) days after Buyer’s initial approval to purchase such Purchased Asset from such Seller, Buyer shall pay to such Seller the Partial Payment Amount in respect of such Partially Repaid Purchased Asset.

• If any such request is delivered to Buyer ninety (90) or more days after Buyer’s initial approval to purchase such Purchased Asset from such Seller, Buyer may, in its discretion either decline such request in its entirety, or accept such request in whole or in part and pay to such Seller none, all or part of the Partial Payment Amount in respect of such Partially Repaid Purchased Asset, subject to any terms or conditions Buyer may, in its discretion, require.

• In respect of any Partially Repaid Purchased Asset, the applicable Seller may request, on no less than one (1) Business Day’s prior written notice to Buyer, that Buyer pay to such Seller the Partial Payment Amount in respect of such Partially Repaid Purchased Asset.

More Definitions of Partial Payment Amount

Partial Payment Amount means, (a) with respect to each Retained Stockholder, an amount equal to fifty percent (50%) of the Closing Per Share Consideration multiplied by the number of Shares held by such Retained Stockholder, and (b) with respect to each retained Optionholder, fifty percent (50%) of the amount described in clause (i) of S ection 2.06(a).

Partial Payment Amount means an amount equal to the product of (A) 110% and (B) the Allocated Loan Amount.