First Year Period Sample Clauses

First Year Period. The subsequent payment corresponding to the First Year Period (the “First Earnout Payment”) shall be the First Earnout Payment for the First Year Period, provided that the First Year Achieved Revenue is greater than or equal to the First Year Target Revenue and First Year Target Minimum Gross Margin. If the First Year Achieved Revenue is: (i) less than the First Year Target Revenue, and (ii) less than the Minimum Gross Margin, then the Earnout Payment for the First Year Period shall be equal to zero. Alternatively, however, if the First Year Achieved Revenue is greater than or equal to the target revenue of any subsequent years target revenue, and there is a Minimum Gross Margin corresponding to that year, then in that event the Earnout Payment shall be the Earnout Payment corresponding to the year for which the target revenue was achieved. However, at no time shall the aggregate Earnout Payments exceed the Maximum Earnout Payment.
Sample 1
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First Year Period. Following the end of the First Year Period, the Purchaser shall issue to the Sellers, in accordance with this Section 2.5, a payment of Additional Consideration as follows: (A) If the EBITDA of the New Business Segment for the First Year Period is greater than or equal to the Additional Consideration Target, then the Purchaser shall issue to the Sellers that number of shares of Common Stock equal to the quotient obtained by dividing $3,111,112 by the Closing Share Price (the “First Year Stock Issuance”). (B) If the EBITDA of the New Business Segment for the First Year Period is less than the Additional Consideration Target (a “Missed First Year Target”), then the Purchaser shall issue to the Sellers that number of shares of Common Stock equal to (x) the Target Percentage for the First Year Period multiplied by (y) the First Year Stock Issuance (the “Adjusted First Year Stock Issuance”); provided, however, that, if the EBITDA of the New Business Segment for the First Year Period is less than $2,900,000 (the “EBITDA Floor”), Purchaser shall have no obligation to pay any Adjusted First Year Stock Issuance to Sellers at the end of the First Year Period.
Sample 1
First Year Period. Following the end of the First Year Period, if the First Year Earn-Out Net Income exceeds the Additional Consideration Target (the amount of such excess, the “First Year Excess Amount”), then Parent shall pay to the Members an amount equal to such First Year Excess Amount in accordance with Section 2.9(c)(v).
Sample 1

Related to First Year Period

  • week period If an employee fails to return at the end of the family care or medical leave, the CSU may require repayment of insurance premiums paid during the unpaid portion of the leave. The CSU shall not require repayment of premiums if the employee's failure to return is due to his/her serious health condition or due to circumstances beyond the employee's control.

  • Fiscal Year; Taxable Year The fiscal year and the taxable year of the Company is the calendar year.

  • Meal Period Employees shall receive a meal period which shall commence no less than two (2) hours nor more than five (5) hours from the beginning of the employee's regular shift or when the employee is called in to work on their regular day off. The meal period shall be no less than one-half (½) hour nor more than one (1) hour in duration and shall be without compensation. Should an employee be required to work in excess of five (5) continuous hours from the commencement of their regular shift without being provided a meal period, the employee shall be compensated two (2) times the employee's straight-time hourly rate of pay for the time worked during their normal meal period and be afforded a meal period at the first available opportunity during working hours without compensation.

  • PRORATION PERIOD The Tenant: (check one)

  • Election Period The period which begins on the first day of the Plan Year in which the Participant attains age thirty-five (35) and ends on the date of the Participant’s death. If a Participant separates from Service prior to the first day of the Plan Year in which age thirty-five (35) is attained, the Election Period shall begin on the date of separation, with respect to the account balance as of the date of separation.

  • Contract Year A twelve (12) month period during the term of the Agreement commencing on the Effective Date and each anniversary thereof.

  • Initial Period The Initial Period will begin on the date set forth above (date of signed Agreement) and will terminate on the earlier of (i) the Commercial Operation Date or (ii) the date the Agreement is terminated pursuant to the provisions of Section 4(b) or 4(d).

  • Calendar Year Calendar Year" for the purposes of this Agreement shall mean the twelve (12) month period from January 1st to December 31st, inclusive.

  • End of Fiscal Years; Fiscal Quarters The Borrower will cause (i) its and each of its Domestic Subsidiaries’ fiscal years to end on December 31 of each calendar year and (ii) its and each of its Domestic Subsidiaries’ fiscal quarters to end on March 31, June 30, September 30 and December 31 of each calendar year.

  • Vacation Period ‌ The choice of vacation periods shall be granted to employees on the basis of seniority with the Employer except where the period requested would be detrimental to the operation of the Employer.

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