During the Test Period Sample Clauses

During the Test Period. (1) In Stride shall supply to the Company all of the Footwear required, as determined by the Manager, to undertake the ShopKo Test. In addition, In Stride shall pay all costs of training and Company operational overhead required (as determined by the Manager) during the Test Period to undertake the ShopKo Test. The sum of (a) In Stride’s documented direct cost of the Footwear supplied to the Company pursuant to this Section 3.1(b)(1), and (b) the aggregate amount of documented costs of training and Company operational overhead paid by In Stride pursuant to this Section 3.1(b)(1), shall constitute a loan by In Stride to the Company (the “Initial In Stride Loan”) which shall not bear interest and the principal of which shall be repaid out of Distributable Cash pursuant to Sections 4.2(a) and 4.3(a) hereof; provided, however, that (i) the documentation corresponding to any such costs shall be provided to the Manager within thirty (30) days after such costs are incurred, and (ii) any individual expenditure (or commitment to make an individual expenditure) in excess of ten thousand dollars ($10,000) shall require the approval of the Manager and the vote of those Members owning, in the aggregate, at least sixty percent (60%) of the Membership Interests, before such expenditure or commitment is incurred. Notwithstanding clause (ii) of this Section 3.1(b)(1), (I) the Manager shall have the ability to propose a budget to the Members, and if the proposed budget is approved by at least sixty percent (60%) of the Membership Interests, then the Member vote referred to in clause (ii) shall not be required unless the expenditure or commitment at issue would result in the approved budgeted expenses being exceeded by more than ten thousand dollars ($10,000), and (II) regardless of whether or not a budget has been approved, if the Company’s gross revenue for any Fiscal Year exceeds two million dollars ($2,000,000), then the Member vote referred to in clause (ii) shall not be required for the remainder of that Fiscal Year and for all future Fiscal Years.
Sample 1
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Related to During the Test Period

  • During the Term (a) As compensation for services hereunder rendered during the Term hereof, Executive shall receive a base salary (“Base Salary”) of Five Hundred Thousand Dollars ($500,000) per year payable in equal installments in accordance with the Company’s payroll procedure for its salaried executives. Salary payments and other payments under this Agreement shall be subject to withholding of taxes and other appropriate and customary amounts. Executive may receive increases in his Base Salary from time to time, based upon his performance, subject to approval of the Company.

  • Allocations During the Rapid Amortization Period During the Rapid Amortization Period, the Servicer shall, prior to the close of business on the day any Collections are deposited in the Collection Account, allocate to the Investor Certificateholders and pay or deposit from the Collection Account the following amounts as set forth below:

  • Computation Period Interest on the Loans and all other amounts payable by Borrower hereunder on a per annum basis shall be computed on the basis of a 360-day year and the actual number of days elapsed (including the first day but excluding the last day) unless such calculation would result in a usurious rate, in which case interest shall be calculated on the basis of a 365-day year or 366-day year, as the case may be. In computing the number of days during which interest accrues, the day on which funds are initially advanced shall be included regardless of the time of day such advance is made, and the day on which funds are repaid shall be included unless repayment is credited prior to the close of business on the Business Day received. Each determination by Administrative Agent of an interest rate or fee hereunder shall be conclusive and binding for all purposes, absent manifest error.

  • Construction Period During the construction period, Redeveloper agrees to keep the construction area, including completed operations insured against loss or damage by fire, and such other risks, casualties, and hazards as are customarily covered by builders’ risk or extended coverage policies in an amount not less than the replacement value but allowing for reasonable coinsurance clauses and deductibles. In the event of any insured damage or destruction, Redeveloper agrees to use its good faith efforts to commence restoration of the Private Improvements to its prior condition within nine (9) months from the date of the damage or destruction, and shall diligently pursue the same to completion.

  • Allocations During the Revolving Period During the Revolving Period, the Servicer shall, prior to the close of business on the day any Collections are deposited in the Collection Account, allocate to the Investor Certificateholders or the Holder of the Seller Interest and pay or deposit from the Collection Account the following amounts as set forth below:

  • Period 4.1. The period of this Framework Agreement is from and including 1 August 2019 (the “Commencement Date”) to and including 31 July 2023 unless it is terminated earlier under Clause 4.2.

  • Commencement of Interest Periods The first Interest Period shall commence on the Drawdown Date and each subsequent Interest Period shall commence on the expiry of the preceding Interest Period.

  • Commencement Date Delay Except as otherwise provided in the Lease, Delivery of the Premises shall occur when Landlord’s Work has been Substantially Completed, except to the extent that completion of Landlord’s Work shall have been actually delayed by any one or more of the following causes (“Tenant Delay”):

  • Extension Period Any extension hereof shall be subject to the provisions of Article III hereof.

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