Shortfall Year definition

Shortfall Year is defined in Section 4.1(f).

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Shortfall Year has the meaning given to it in the Cover Sheet.” The following is added as Section 1.62.1:

Shortfall Year is defined in Section 5.1(f).

Examples of Shortfall Year in a sentence

The Delivery Year Requirement for the first Delivery Year will be an amount between the minimum 1,520 RECs and the maximum 3,040 RECs. Buyer will pay Seller for actual RECs delivered up to the maximum Delivery Year Requirement amount, or 3,040 RECs. If Seller fails to deliver the minimum Delivery Year Requirement of 1,520 RECs, the Delivery Year will be designated a Shortfall Year.
The Delivery Year Requirement for the second Delivery Year will be an amount between the minimum 3,345 RECs and the maximum 3,650 RECs. Buyer will pay Seller for actual RECs delivered up to the maximum Delivery Year Requirement amount, or 3,650 RECs. If Seller fails to deliver the minimum Delivery Year Requirement of 3,345 RECs, the second Delivery Year will be designated a Shortfall Year.
Pursuant to Section 5.1(f) of the Agreement, Seller’s failure to Deliver the Delivery Year Requirement for Delivery Year 0 and Delivery Year 1 shall be excused, and such Delivery Year shall not be a Shortfall Year and such amount of RECs that Seller fails to Deliver to satisfy the Delivery Year Requirement shall not constitute a Shortfall Amount.
If Master Franchisee fails to achieve the Target for the Shortfall Year by the expiration of the Development Cure Period, then, in addition to any other legal rights and remedies available to PLK set out in this Agreement or at Law, PLK may, in its sole discretion, terminate the Development Rights or terminate this Agreement in its entirety.
For the avoidance of doubt, if a Restaurant is counted for purposes of determining Master Franchisee’s compliance with the applicable Annual Opening Target or Extension Period Target, if applicable, for a Shortfall Year, it will not be counted for purposes of determining compliance with the applicable Annual Opening Target or Extension Period Target for the Development Year in which the Restaurant actually opened.

More Definitions of Shortfall Year

Shortfall Year has the meaning set out in clause 6.8. CERTAIN PORTIONS OF THE EXHIBIT THAT ARE NOT MATERIAL AND IS THE TYPE OF INFORMATION THAT THE REGISTRANT TREATS AS PRIVATE OR CONFIDENTIAL HAVE BEEN REDACTED PURSUANT TO ITEM 601(b)(10)(iv) OF REGULATION S-K. [****] INDICATES THAT INFORMATION HAS BEEN REDACTED.

Shortfall Year has the meaning set forth in Article 4(3);

Shortfall Year has the meaning given to it in the Cover Sheet.

Shortfall Year means each twelve (12) month period from April 1, 2001, and from each anniversary of such date.) The number of Territory Outlets shall be measured as of the end of each Shortfall Year for which such number of Territory Outlets is required and such Shortfall Fee, if any, shall be due and payable within thirty (30) days after the end of each Shortfall Year for which such number of Territory Outlets is not achieved. No Shortfall Fee shall be payable if the total number of Territory Outlets open at the end of the Shortfall Year in question is at or above the minimum set forth on Exhibit E.

Shortfall Year shall have the meaning set forth in Section 2.02(a)(i).

Shortfall Year has the meaning set out in clause 6.8.

Shortfall Year has the meaning set forth in Section 7.3.3.