Adjusted Installment Payment Clause Samples

Adjusted Installment Payment. Notwithstanding Section 3.4(a) above, if, the sum of the Formula Period Profits (as defined in Section 3.4(f)(v) below) of the Provider Network and the Subsidiary for any Formula Period is less than the Earnings Threshold (as defined in Section 3.4(f)(ii) below, after the assignment of any income pursuant to the Management Services Agreement, the amount of the Intended Installment Payment for such Formula Period shall be recalculated (the “Adjusted Installment Payment”) to equal the product of the Intended Installment Payment, multiplied by the applicable “Installment Payment Percentage Discount” as defined hereinafter. The “Installment Payment Percentage Discount” shall equal (i) the Formula Period Profits for such Formula Period divided by the Earnings Threshold; multiplied by: (ii) ninety percent (90%) if such Formula Period Profits are Two Million Seven Hundred Thousand and 00/100 Dollars ($2,700,000) or more but less than the Earnings Threshold; or (iii) seventy percent (70%) if such Formula Period Profits are Two Million One Hundred Thousand and 00/100 Dollars ($2,100,000) or more but less than Two Million Seven Hundred Thousand and 00/100 Dollars ($2,700,000); or (iv) fifty percent (50%) if such Formula Period Profits are One Million Five Hundred Thousand and 00/100 Dollars ($1,500,000) or more but less than Two Million One Hundred Thousand and 00/100 Dollars ($2,100,000). There shall be no Installment Payment for the Formula Period if such Formula Period Profits are less than One Million Five Hundred Thousand and 00/100 Dollars ($1,500,000).