Additional Payment Amount Clause Samples
Additional Payment Amount. (a) The Buyer shall pay the Seller an additional purchase price of $225,000,000 (the "Additional Payment Amount") as adjusted in the manner described below:
(i) if the Retail Choice Date (as defined below) occurs after the later of the Closing or January 1, 1999 and prior to January 1, 2000, the Additional Payment Amount shall be reduced by $75,000,000 multiplied by (x) the number of days in the calendar year 1999 before the Retail Choice Date divided by (y) 365;
(ii) if the Retail Choice Date occurs on or after January 1, 2000 and prior to January 1, 2003, the Additional Payment Amount shall be reduced by (A) $75,000,000 plus (B) $50,000,000 multiplied by (x) the number of days from January 1, 2000 to the Retail Choice Date divided by (y) 365.
(iii) if the Retail Choice Date occurs on or after January 1, 2003, the Additional Payment Amount shall be zero.
(b) The "Retail Choice Date" shall be defined as the date on which Retail Access (as defined below) is first available to either (i) customers representing 89% of the 1995 kilowatthour sales of investor-owned utilities in Massachusetts or (ii) customers (including those of Massachusetts Electric Company) representing 50% of the 1995 kilowatthour sales of utilities in New England. "Retail Access" shall mean the ability of retail electric customers to purchase electric power directly from power generators, power marketers, or any other entities at prices not subject to regulation.
Additional Payment Amount. On each Interest Payment Date following the Special Provision Effective Date, the Borrower shall pay in cash to each Lender holding Term A Loans or Term B Loans an additional amount equal to the excess of (x) (I) the aggregate amount of interest (in cash or “paid in kind”) payable to such Lender on account of all Term Loans held by such Lender on such Interest Payment Date (such amount in this clause (x)(I) on such Interest Payment Date, the “Applicable Aggregate Interest Amount”) divided by (II) (a) one minus (b) the Additional Cash Rate (expressed as a decimal) in effect; over (y) the Applicable Aggregate Interest Amount at such time.”
Additional Payment Amount. (i) Following the Closing, the Purchaser shall determine, in its sole discretion, subject to Section 1.2(c)(iv), whether the Additional Payment Amount shall consist of cash, shares of Purchaser Common Stock or some combination thereof and shall thereafter deliver a written notice (a “Determination Notice”) to the Shareholder Representative setting forth (i) the relative allocation (in dollars) of the Additional Payment Amount between cash and Purchaser Common Stock and (ii) if applicable, the anticipated effective date of the Registration Statement (such date, as designated by the Purchaser in the Determination Notice or thereafter designated in a subsequent notice by the Purchaser, the “Target Effective Date”, which shall not be later than November 30, 2007). If Purchaser determines that any portion of the Additional Payment Amount shall consist of Purchaser Common Stock, Purchaser shall deliver the initial Determination Notice no later than ten (10) Business Days prior to the Target Effective Date. Any amount of the Additional Payment Amount that the Purchaser determines to pay in Purchaser Common Stock (as expressed in dollars on the Determination Notice) is referred to herein as the “Additional Payment Stock Value”. The aggregate number of shares of Purchaser Common Stock to be issued as a portion of the Additional Payment Amount shall equal the quotient obtained by dividing (A) the Additional Payment Stock Value by (B) the Trading Price and shall thereafter be adjusted pursuant to Section 1.2(c)(vii) (such aggregate number of shares, as adjusted, the “Stock Consideration Number”). The aggregate amount of cash to be paid as a portion of the Additional Payment Amount shall equal (i) the Additional Payment Amount minus (ii) the product of the Stock Consideration Number, if any, multiplied by the Trading Price.
(ii) Subject to the terms and conditions of this Agreement, the Purchaser shall pay and/or deliver the Additional Payment Amount to the Shareholders (allocated as provided in Section 1.2(a)) either (i) if the Additional Payment Amount is being paid solely in cash, within ten (10) Business Days following the date of the Determination Notice, but in no event later than November 30, 2007 or (ii) if any portion of the Additional Payment Amount is being paid in shares of Purchaser Common Stock, the portion paid in Purchaser Common Stock shall be issued as promptly as reasonably practicable following the Trading Price Measurement Date, but in any event p...
Additional Payment Amount. As additional consideration for the Interests, at the time provided in Section 1.6(d), Purchaser (or its designee so long as Purchaser remains an obligor thereof) shall pay to Sellers, based on each Seller’s Pro Rata Percentage, an amount, if any, equal to the Additional Payment Amount.
Additional Payment Amount. 1, 16 Affiliate..........................1 Agreement..........................1
Additional Payment Amount. Effective as of January 1, 1996, the parties ------------------------- hereby agree to delete "EXHIBIT E" to the Agreement in its entirety and to substitute the "AMENDED EXHIBIT E"' set forth as Attachment I hereto in its place.