Target TNAV definition
Target TNAV means an amount equal to the product of (a) the aggregate gross revenue of the Lime Entities for the three (3) month period ending as of the last day of the calendar month immediately preceding the calendar month in which the Closing occurs, multiplied by (b) the average TNAV Percentage for the twelve (12) calendar month period ending as of the last day of the calendar month immediately preceding the calendar month in which the Closing occurs, all as set forth in the Closing Adjustment Illustration.
Target TNAV means five hundred thousand dollars ($500,000), less the Software License Impacts, provided that the signed, final license agreement for such Software License Impacts must be signed within 180 days of the Closing Date.
Examples of Target TNAV in a sentence
In the event the Closing TNAV is finally determined to be less than the Target TNAV, the Buyer shall be entitled to retain a portion of the Holdback Amount equal to the Post-Closing Adjustment and within five Business Days of acceptance of the applicable Closing TNAV Statement the Seller Representative shall collect the amount of deficiency from the Sellers and pay to the Purchaser the full amount of such deficiency in cash.