Installments Based Upon Gross Profit Sample Clauses

Installments Based Upon Gross Profit i. Where the annual Gross Profit of the LLC is less than $100,000 or exceeds $1,000,000, the sum paid for the acquired Membership interest shall paid in twelve (12) equal monthly installments totaling the purchase price with interest thereon at the prime rate. The first installment payment shall be due on the date of closing, which shall be not later than thirty (30) days following the agreement as to the purchase price of the Membership interest. Upon receipt of the first installment payment, the selling Member or Member’s successor shall execute a commercially reasonable assignment of the Membership interest free and clear of any and all encumbrances. The purchasing party shall in turn execute a commercially reasonable security agreement granting a lien upon the Membership interest assigned along with a UCC-1 and/or such other documentation required to perfect the security interest, and file such documentation with the County Clerk, and such security agreement shall only be released upon full payment of all amounts due. Where the price to be paid for the Membership interest was determined by arbitration, then the first installment shall be due on the 1st day of the month following the date on which the arbitration order was confirmed by an Oklahoma District Court, provided that where such 1st day of the month is less than ten (10) business days from the date of the confirmed order, then the first installment shall be due on the 1st day of the next month. The remaining installments shall be due on the 1st day of each month thereafter, and the order confirming the arbitration award shall be deemed as evidence of the transfer. ii. Where the annual Gross Profit of the LLC is equal to or more than $100,000 or less than $1,000,000, the sum paid for the acquired Membership interest shall paid in thirty-six (36) equal monthly installments totaling the purchase price with interest thereon at the prime rate. The first installment payment shall be due on the date of closing, which shall be not later than thirty (30) days following the agreement as to the purchase price of the Membership interest. Upon receipt of the first installment payment, the selling Member or Member’s successor shall execute a commercially reasonable assignment of the Membership interest free and clear of any and all encumbrances. The purchasing party shall in turn execute a commercially reasonable security agreement granting a lien upon the Membership interest assigned along with a UCC-1 and/...
Sample 1

Related to Installments Based Upon Gross Profit

  • Adjustment of Minimum Quarterly Distribution and Target Distribution Levels (a) The Minimum Quarterly Distribution, First Target Distribution, Second Target Distribution, Third Target Distribution, Common Unit Arrearages and Cumulative Common Unit Arrearages shall be proportionately adjusted in the event of any distribution, combination or subdivision (whether effected by a distribution payable in Units or otherwise) of Units or other Partnership Securities in accordance with Section 5.10. In the event of a distribution of Available Cash that is deemed to be from Capital Surplus, the then applicable Minimum Quarterly Distribution, First Target Distribution, Second Target Distribution and Third Target Distribution, shall be adjusted proportionately downward to equal the product obtained by multiplying the otherwise applicable Minimum Quarterly Distribution, First Target Distribution, Second Target Distribution and Third Target Distribution, as the case may be, by a fraction of which the numerator is the Unrecovered Capital of the Common Units immediately after giving effect to such distribution and of which the denominator is the Unrecovered Capital of the Common Units immediately prior to giving effect to such distribution. (b) The Minimum Quarterly Distribution, First Target Distribution, Second Target Distribution and Third Target Distribution, shall also be subject to adjustment pursuant to Section 6.9.

  • Treatment of Each Installment as a Separate Payment For purposes of applying the provisions of Section 409A to this Agreement, each separately identified amount to which the Executive is entitled under this Agreement shall be treated as a separate payment. In addition, to the extent permissible under Section 409A, any series of installment payments under this Agreement shall be treated as a right to a series of separate payments.

  • Total Payments to Other Dist & Govt Units Tuition (In State) 2500 2600 2600 2900 2000 3000 4000 4100 4200 4300 4000 5000 5100 5200 5000 6000

  • Are There Penalties for Early Distribution from a Xxxx XXX As indicated above, earnings on your contributions, as well as amounts contributed to a Xxxx XXX as a rollover from a Traditional IRA, that are distributed before certain events are subject to various taxes. Please see IRS Publication 590 for further information about Xxxx XXX rules and restrictions.

  • Maximum Total Payment Including the reimbursable expenses shown above (if any), the maximum total payment under this Contract is $ ; this is a not-to-exceed amount, and the District will not pay more than this amount unless specifically agreed to in an amendment executed by the parties.

  • Carry Forward to a Subsequent Year If you do not withdraw the excess contribution, you may carry forward the contribution for a subsequent tax year. To do so, you under-contribute for that tax year and carry the excess contribution amount forward to that year on your tax return. The six percent excess contribution penalty tax will be imposed on the excess amount for each year that it remains as an excess contribution at the end of the year. You must file IRS Form 5329 along with your income tax return to report and remit any additional taxes to the IRS.

  • Sales Milestone Payments Artiva shall make the following one-time, non-refundable and non-creditable sales milestone payments to GCLC when the aggregate annual Net Sales of Products in the Territory first reach the thresholds specified below. Artiva shall notify GCLC promptly of the achievement of each such sales threshold. Each sales milestone payment shall be made by Artiva within [***] days after the end of the calendar quarter in which such sales threshold is achieved. To the extent more than one sales threshold is reached in any given calendar year, then the applicable milestone payment for each such achievement shall be due and owing with respect to such calendar year. For clarification, the total milestone payments payable hereunder if all milestone events are achieved is [***].

  • Sales Milestones On a Co-Co Product-by-Co-Co Product basis, Celgene shall make the following sales milestone payments to Jounce that are set forth below upon the first achievement by or on behalf of Celgene, its Affiliates or Sublicensees of the sales milestone events (“Sales Milestone Events”) set forth below with respect to sales of such Co-Co Product in the ROW Territory. [***] [***] [***] [***]

  • Maximum Total Compensation Subsection 10.1 is amended to Increase Decrease the Maximum Total Compensation from $ to $ .

  • Incentive Payment 11.3.1 An employer may offer and an employee may accept an early retirement incentive based on the age at retirement to be paid in the following amounts Age at Retirement % of Annual Salary at Time of Retirement 11.3.2 An employer may opt to pay the early retirement incentive in three equal annual payments over a thirty-six (36) month period. 11.3.3 Eligible bargaining unit members may opt for a partial early retirement with a pro- rated incentive.