Implementation of Business Performance Commitment Sample Clauses

Implementation of Business Performance Commitment. 4.1 During the Commitment Period, where the Target Company’s accumulated Achieved Net Profit as of the end of the relevant period (meaning the relevant fiscal year, the same hereinafter) is lower than the accumulated Committed Net Profit as of the end of the relevant period, Party B shall pay a compensatory amount to XJK. The aggregate amount of the compensatory amount for the relevant year plus the accumulated compensatory amount for previous years (if any) shall be capped at the amount of Consideration Shares under the Proposed Transaction and calculated as follows: Compensatory amount payable for the relevant year = (accumulated Committed Net Profit as of the end of the relevant year — accumulated Achieved Net Profit as of the end of the relevant year) / aggregate of Committed Net Profit for each fiscal year during the compensation period * Target Assets purchase price (i.e., RMB 5,764 million) – accumulated compensatory amount in relation to business performance undertaking that has been paid. The aggregate amount of the compensatory amount for the relevant year plus the accumulated compensatory amount for previous years (if any) shall be capped at the amount of Consideration Shares.
Sample 1
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Implementation of Business Performance Commitment. 4.1 During the Commitment Period, where the Target Company’s accumulated Achieved Net Profit of the three fiscal years is lower than the accumulated Committed Net Profit of the three fiscal years at the end of the three-fiscal-year, Party B shall pay compensation to Party A. The aggregate compensatory amount payable by Part B to Party A shall be calculated in accordance with the formula set forth below: Aggregate amount of compensation payable = (accumulated Committed Net Profit of the three fiscal years – accumulated Achieved Net Profit of the three fiscal years)/accumulated Committed Net Profit of the three fiscal years × RMB2,500,000,000 The Parties agree that the aggregate amount of compensation payable by Party B shall be capped at RMB2,500,000,000.
Sample 1

Related to Implementation of Business Performance Commitment

  • Termination and Reduction of Revolving Commitments (a) Unless previously terminated, the Revolving Commitments shall terminate on the Maturity Date.

  • Bank Provides Diverse Financial Services and May Generate Profits as a Result Customer acknowledges that Bank or its Affiliates may have a material interest in transactions entered into by Customer with respect to the Account or that circumstances are such that Bank may have a potential conflict of duty or interest. For example, Bank or its Affiliates may act as a market maker in the Financial Assets to which Instructions relate, provide brokerage services to other customers, act as financial adviser to the issuer of such Financial Assets, act in the same transaction as agent for more than one customer, have a material interest in the issue of the Financial Assets, or earn profits from any of these activities. Customer acknowledges that Bank or its Affiliates may be in possession of information tending to show that the Instructions received may not be in the best interests of Customer. Bank is not under any duty to disclose any such information.

  • Voluntary Termination of Unutilized Commitments (a) Upon at least three Business Days’ prior notice to the Administrative Agent at its Notice Office (which notice the Administrative Agent shall promptly transmit to each of the Lenders), the Borrower shall have the right, at any time or from time to time, without premium or penalty, to terminate or reduce the Total Unutilized Loan Commitment, in whole or in part, in integral multiples of $1,000,000 in the case of partial reductions thereto, provided that each such reduction shall apply proportionately to permanently reduce the Revolving Loan Commitment of each Lender.

  • Termination or Reduction of Revolving Commitments The Borrower shall have the right, upon not less than three Business Days’ notice to the Administrative Agent, to terminate the Revolving Commitments or, from time to time, to reduce the amount of the Revolving Commitments; provided that no such termination or reduction of Revolving Commitments shall be permitted if, after giving effect thereto and to any prepayments of the Revolving Loans and Swingline Loans made on the effective date thereof, the Total Revolving Extensions of Credit would exceed the Total Revolving Commitments. Any such reduction shall be in an amount equal to $1,000,000, or a whole multiple thereof, and shall reduce permanently the Revolving Commitments then in effect.

  • Continuance of Employment/Service Required; No Employment/Service Commitment The vesting schedule requires continued employment or service through each applicable vesting date as a condition to the vesting of the applicable installment of the Option and the rights and benefits under this Option Agreement. Employment or service for only a portion of the vesting period, even if a substantial portion, will not entitle the Grantee to any proportionate vesting or avoid or mitigate a termination of rights and benefits upon or following a termination of employment or services as provided in Section 4 below or under the Plan. Nothing contained in this Option Agreement or the Plan constitutes a continued employment or service commitment by the Corporation or any of its Subsidiaries, affects the Grantee’s status, if he or she is an employee, as an employee at will who is subject to termination without cause, confers upon the Grantee any right to remain employed by or in service to the Corporation or any Subsidiary, interferes in any way with the right of the Corporation or any Subsidiary at any time to terminate such employment or service, or affects the right of the Corporation or any Subsidiary to increase or decrease the Grantee’s other compensation.

  • Termination and Reduction of Commitments (a) Unless previously terminated, the Commitments shall terminate on the Maturity Date.

  • Termination and Reduction of the Commitments (a) Unless previously terminated, the Commitments shall terminate on the Termination Date.

  • Scheduled Termination of Commitments Unless previously terminated, the Commitments shall terminate on the Maturity Date. If at any time the Aggregate Maximum Credit Amounts or the Borrowing Base is terminated or reduced to zero, then the Commitments shall terminate on the effective date of such termination or reduction.

  • Termination of Commitments Declare the Commitments terminated whereupon the Commitments shall be immediately terminated.

  • No Responsibility for Advances, Creditworthiness, Collateral, Recitals, Etc [Intentionally Omitted. See Sections 7.03 and 7.04 of the Credit Agreement for these provisions.]

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