Subsequent Payment Amount definition
Examples of Subsequent Payment Amount in a sentence
The Subsequent Payment will be settled as follows: (i) if the Support Amount is less than the Subsequent Payment Amount, then the Partnership will pay to Targa the Excess Amount; (ii) if the Support Amount is greater than the Subsequent Payment Amount, then Targa will pay to the Partnership the Excess Amount; and (iii) if the Support Amount is equal to the Subsequent Payment Amount, then no payment will be made by either the Partnership or Targa.
Purchaser may set-off the Initial Adjustment Amount against the Subsequent Payment Amount due to Sellers and/or the amounts due to Sellers under the Employment Agreements.
SML guarantees the performance of all of obligations of the Purchaser hereunder, including but not limited to, the payment of the Subsequent Payment Amount or delivery of the SML Shares.
In the event of a dispute regarding the calculation of the Met 10 Subsequent Payment Amount, Purchaser shall ensure that ▇▇▇▇ reasonably cooperates with Seller with respect to that dispute.
The aggregate amount of any and all Claims payable to Buyer may be recouped and set-off by Buyer against any Subsequent Payment Amount hereunder, without limiting any other rights or remedies of Buyer.
Subject to this Agreement not having been terminated in accordance with Section 5.1 hereof, on the Subsequent Payment Date: Vista shall sell, assign, transfer, convey and set over to the Purchaser, and the Purchaser hereby agrees to purchase and acquire from Vista that portion of the Debt equal to the Subsequent Debt Amount; and the Purchaser shall wire to Vista funds in the amount of the Subsequent Payment Amount in accordance with the instructions set forth in Schedule “A”.
The Initial Payment Amount and the Subsequent Payment Amount shall be collectively referred to as the Purchase Price.
The Purchase Price shall be adjusted by (i) increasing the Subsequent Payment Amount by the amount of accounts receivables actually collected by the Purchaser during the ninety (90) day period following the Closing which were as of the Closing 150 or more days past due and (ii) decreasing the Subsequent Payment Amount by the amount of accounts receivable which were as of the Closing less than 150 days past due and were uncollected by the Purchaser during the ninety (90) day period following the Closing.
All of the Diva Shares immediately prior to the Effective Time, by virtue of the Merger and without any action on the part of the holders thereof, shall be converted into the right to receive an aggregate of (a) $875,000 in immediately available funds (the "Initial Payment Amount") and (b) $1,400,000 (the "Subsequent Payment Amount") on the first anniversary (the "Subsequent Payment Date") of the date of closing (the "Closing Date").
On the Subsequent Payment Date, the Purchaser may pay the Subsequent Payment Amount (i) in cash, or (ii) by delivering a 186,667 shares of Common Stock of SML (the "SML Shares").