Transaction Trigger Payment definition
Transaction Trigger Payment means the payment the Plan Trust will receive on account of the Plan Note upon the following terms and conditions: (1) upon a Transaction Trigger occurring in calendar year 2007, if the Net Enterprise Value exceeds $15,700,000, the Plan Trust shall receive a payment equal to 20% of the amount in excess of such $15,700,000; (2) upon a Transaction Trigger occurring in calendar year 2008, if the Net Enterprise Value exceeds $20,000,000, the Plan Trust shall receive a payment equal to 20% of the amount in excess of such $20,000,000; (3) upon a Transaction Trigger occurring in calendar year 2009, if the Net Enterprise Value exceeds $25,600,000, the Plan Trust shall receive a payment equal to 20% of the amount in excess of such $25,600,000; (4) upon a Transaction Trigger occurring in calendar year 2010, if the Net Enterprise Value exceeds $33,000,000, the Plan Trust shall receive a payment equal to 20% of the amount in excess of such $33,000,000; (5) upon a Transaction Trigger occurring in calendar year 2011, if the Net Enterprise Value exceeds $42,800,000, the Plan Trust shall receive a payment equal to 20% of the amount in excess of such $ 42,800,000; provided, however, that the aggregate amount of the Transaction Trigger Payment and any Cash Distribution Trigger Payments shall not exceed $2 million.
Transaction Trigger Payment means the payment the Plan Trust will receive on account of the Plan Note upon the following terms and conditions: (1) upon a Transaction Trigger occurring in calendar year 2007, if the Net Enterprise Value exceeds $15,700,000, the Plan Trust shall receive a payment equal to 20% of the amount in excess of such $15,700,000; (2) upon a Transaction Trigger occurring in calendar year 2008, if the Net Enterprise Value