{"component": "clause", "props": {"groups": [{"snippet_links": [{"key": "company-in", "type": "clause", "offset": [28, 38]}, {"key": "immediately-available-funds", "type": "definition", "offset": [39, 66]}, {"key": "days-after", "type": "definition", "offset": [92, 102]}, {"key": "by-the-company", "type": "clause", "offset": [110, 124]}, {"key": "equal-to", "type": "definition", "offset": [136, 144]}, {"key": "parent-termination-fee", "type": "definition", "offset": [162, 184]}, {"key": "pursuant-to-section", "type": "definition", "offset": [234, 253]}, {"key": "the-parent", "type": "definition", "offset": [405, 415]}, {"key": "failure-to-obtain", "type": "clause", "offset": [575, 592]}, {"key": "required-approvals", "type": "clause", "offset": [597, 615]}, {"key": "of-the-stockholders", "type": "clause", "offset": [616, 635]}, {"key": "following-the", "type": "definition", "offset": [691, 704]}, {"key": "date-hereof", "type": "clause", "offset": [705, 716]}, {"key": "termination-of-this-agreement", "type": "clause", "offset": [734, 763]}, {"key": "a-third-party", "type": "clause", "offset": [765, 778]}, {"key": "publicly-announced", "type": "definition", "offset": [783, 801]}, {"key": "acquisition-offer", "type": "definition", "offset": [856, 873]}, {"key": "period-a", "type": "definition", "offset": [900, 908]}, {"key": "agreement-or", "type": "definition", "offset": [1220, 1232]}, {"key": "letter-of-intent", "type": "clause", "offset": [1233, 1249]}, {"key": "the-agreements", "type": "clause", "offset": [1317, 1331]}, {"key": "contained-in", "type": "definition", "offset": [1332, 1344]}, {"key": "the-transactions-contemplated-by-this-agreement", "type": "clause", "offset": [1389, 1436]}, {"key": "fails-to-pay", "type": "clause", "offset": [1546, 1558]}, {"key": "in-a-timely-manner", "type": "definition", "offset": [1559, 1577]}, {"key": "amounts-due", "type": "clause", "offset": [1582, 1593]}, {"key": "in-order-to", "type": "clause", "offset": [1631, 1642]}, {"key": "reasonable-costs-and-expenses", "type": "definition", "offset": [1824, 1853]}, {"key": "reasonable-attorneys", "type": "definition", "offset": [1865, 1885]}, {"key": "fees-and-expenses", "type": "definition", "offset": [1887, 1904]}, {"key": "in-connection-with", "type": "clause", "offset": [1906, 1924]}, {"key": "interest-on-the", "type": "clause", "offset": [1953, 1968]}, {"key": "rate-of", "type": "clause", "offset": [2023, 2030]}, {"key": "chase-manhattan", "type": "definition", "offset": [2035, 2050]}, {"key": "effect-on-the", "type": "clause", "offset": [2059, 2072]}, {"key": "payment-of-the-fees", "type": "clause", "offset": [2116, 2135]}, {"key": "in-lieu-of", "type": "clause", "offset": [2182, 2192]}, {"key": "breach-of-this-agreement", "type": "clause", "offset": [2226, 2250]}, {"key": "for-the-purposes-of-this-agreement", "type": "clause", "offset": [2252, 2286]}, {"key": "business-combination", "type": "clause", "offset": [2445, 2465]}, {"key": "similar-transaction", "type": "definition", "offset": [2488, 2507]}, {"key": "involving-parent", "type": "clause", "offset": [2508, 2524]}, {"key": "equity-interests", "type": "definition", "offset": [2645, 2661]}, {"key": "resulting-entity", "type": "definition", "offset": [2682, 2698]}, {"key": "parent-company", "type": "clause", "offset": [2705, 2719]}, {"key": "sale-or-other-disposition", "type": "clause", "offset": [2757, 2782]}, {"key": "by-parent", "type": "clause", "offset": [2783, 2792]}, {"key": "all-or-substantially-all", "type": "clause", "offset": [2793, 2817]}, {"key": "the-acquisition", "type": "clause", "offset": [2827, 2842]}, {"key": "person-or-group", "type": "definition", "offset": [2850, 2865]}, {"key": "tender-offer", "type": "definition", "offset": [2889, 2901]}, {"key": "an-exchange-offer", "type": "clause", "offset": [2905, 2922]}, {"key": "directly-or-indirectly", "type": "clause", "offset": [2947, 2969]}, {"key": "right-to-acquire", "type": "definition", "offset": [3000, 3016]}, {"key": "beneficial-ownership-of-shares", "type": "clause", "offset": [3017, 3047]}, {"key": "power-of", "type": "clause", "offset": [3092, 3100]}, {"key": "capital-stock-of-parent", "type": "clause", "offset": [3132, 3155]}], "samples": [{"hash": "jK3JOzm74Fp", "uri": "/contracts/jK3JOzm74Fp#parent-payments", "label": "Merger Agreement (Komag Inc /De/)", "score": 18.0, "published": true}, {"hash": "hF0As6d9xES", "uri": "/contracts/hF0As6d9xES#parent-payments", "label": "Merger Agreement (HMT Technology Corp)", "score": 18.0, "published": true}, {"hash": "8IilZxlqagX", "uri": "/contracts/8IilZxlqagX#parent-payments", "label": "Merger Agreement (Komag Inc /De/)", "score": 18.0, "published": true}], "snippet": "(i) Parent shall pay to the Company in immediately available funds, within two (2) business days after demand by the Company, an amount equal to $5,000,000 (the \"PARENT TERMINATION FEE\") if this Agreement is terminated by the Company pursuant to Section 7.1(g).\n(ii) Parent shall pay the Company in immediately available funds, within two (2) business days after demand by the Company, an amount equal to the Parent Termination Fee, if this Agreement is terminated by the Company or Parent, as applicable, pursuant to Section 7.1(b) or Section 7.1(d) as a result of Parent's failure to obtain the required approvals of the stockholders of Parent and any of the following shall occur:\n(1) if following the date hereof and prior to the termination of this Agreement, a third party has publicly announced (and not publicly and irrevocably withdrawn) a Parent Acquisition Offer and within the Applicable Period a Parent Acquisition (as defined below) is consummated; or\n(2) if following the date hereof and prior to the termination of this Agreement, a third party has publicly announced (and not publicly and irrevocably withdrawn) a -49- 55 Parent Acquisition Offer, and within the Applicable Period Parent enters into an agreement or letter of intent providing for a Parent Acquisition.\n(iii) Parent acknowledges that the agreements contained in this Section 7.3(c) are an integral part of the transactions contemplated by this Agreement, and that, without these agreements, the Company would not enter into this Agreement; accordingly, if Parent fails to pay in a timely manner the amounts due pursuant to this Section 7.3(c) and, in order to obtain such payment, the Company commences a lawsuit that results in a judgment against Parent for the amounts set forth in this Section 7.3(c), Parent shall pay to the Company its reasonable costs and expenses (including reasonable attorneys' fees and expenses) in connection with such lawsuit, together with interest on the amounts set forth in this Section 7.3(c) at the prime rate of The Chase Manhattan Bank in effect on the date such payment was required to be made. Payment of the fees described in this Section 7.3(c) shall not be in lieu of damages incurred in the event of breach of this Agreement. For the purposes of this Agreement, \"PARENT ACQUISITION\" shall mean any of the following transactions (other than the transactions contemplated by this Agreement): (i) a merger, consolidation, business combination, recapitalization, or similar transaction involving Parent pursuant to which the stockholders of Parent immediately preceding such transaction hold less than 50% of the aggregate equity interests in the surviving or resulting entity of or Parent Company involved in such transaction, (ii) a sale or other disposition by Parent all or substantially all or (iii) the acquisition by any person or group (including by way of a tender offer or an exchange offer or issuance by Parent), directly or indirectly, of beneficial ownership or a right to acquire beneficial ownership of shares representing in excess of 50% of the voting power of the then outstanding shares of capital stock of Parent.", "size": 23, "hash": "526912ff189c51ef593e1bbcacc9d10a", "id": 1}, {"snippet_links": [{"key": "this-agreement", "type": "clause", "offset": [3, 17]}, {"key": "pursuant-to-section", "type": "definition", "offset": [32, 51]}, {"key": "by-either-party", "type": "clause", "offset": [81, 96]}, {"key": "at-the-time", "type": "definition", "offset": [128, 139]}, {"key": "business-days", "type": "definition", "offset": [313, 326]}, {"key": "to-the-company", "type": "clause", "offset": [381, 395]}, {"key": "equal-to", "type": "definition", "offset": [406, 414]}, {"key": "parent-termination-fee", "type": "definition", "offset": [433, 455]}, {"key": "transfer-of", "type": "clause", "offset": [466, 477]}, {"key": "immediately-available-funds", "type": "definition", "offset": [478, 505]}, {"key": "account-or-accounts", "type": "definition", "offset": [512, 531]}, {"key": "in-writing", "type": "definition", "offset": [543, 553]}, {"key": "by-the-company", "type": "clause", "offset": [554, 568]}], "samples": [{"hash": "joYfQufbkjH", "uri": "/contracts/joYfQufbkjH#parent-payments", "label": "Merger Agreement (Liberty Tax, Inc.)", "score": 30.5989055634, "published": true}, {"hash": "7NbKtEYpcnD", "uri": "/contracts/7NbKtEYpcnD#parent-payments", "label": "Merger Agreement (Vitamin Shoppe, Inc.)", "score": 30.5989055634, "published": true}], "snippet": "If this Agreement is terminated pursuant to Section 8.1(g) or Section 8.1(i), or by either Party pursuant to Section 8.1(c) and at the time of such termination the Company could have terminated this Agreement pursuant to Section 8.1(g) or Section 8.1(i), then Parent shall promptly (and in any event within three Business Days following such termination) pay, or cause to be paid, to the Company an amount equal to $11,340,000 (the \u201cParent Termination Fee\u201d) by wire transfer of immediately available funds to an account or accounts designated in writing by the Company.", "size": 13, "hash": "164203824e511dcc102d172f13c1003f", "id": 2}, {"snippet_links": [{"key": "the-contractor-must", "type": "clause", "offset": [0, 19]}, {"key": "in-relation-to", "type": "clause", "offset": [65, 79]}, {"key": "provision-of-a", "type": "clause", "offset": [84, 98]}, {"key": "by-the-department", "type": "clause", "offset": [138, 155]}, {"key": "payments-in", "type": "clause", "offset": [180, 191]}, {"key": "government-schools", "type": "definition", "offset": [202, 220]}, {"key": "the-parent", "type": "definition", "offset": [224, 234]}, {"key": "payment-policy", "type": "definition", "offset": [235, 249]}, {"key": "contractor-to", "type": "clause", "offset": [272, 285]}, {"key": "request-for-payment", "type": "clause", "offset": [308, 327]}, {"key": "comply-with", "type": "definition", "offset": [335, 346]}, {"key": "school-council", "type": "definition", "offset": [384, 398]}, {"key": "prior-to", "type": "clause", "offset": [428, 436]}, {"key": "approval-of", "type": "definition", "offset": [504, 515]}, {"key": "with-respect-to", "type": "clause", "offset": [535, 550]}, {"key": "the-payment", "type": "clause", "offset": [565, 576]}, {"key": "form-of", "type": "definition", "offset": [585, 592]}, {"key": "the-request", "type": "clause", "offset": [593, 604]}, {"key": "for-the-avoidance-of-doubt", "type": "clause", "offset": [618, 644]}, {"key": "the-contractor-acknowledges", "type": "clause", "offset": [646, 673]}, {"key": "no-fees", "type": "definition", "offset": [679, 686]}, {"key": "learning-and-teaching", "type": "clause", "offset": [734, 755]}, {"key": "materials-and-resources", "type": "clause", "offset": [781, 804]}, {"key": "associated-with", "type": "definition", "offset": [836, 851]}, {"key": "standard-curriculum-program", "type": "definition", "offset": [871, 898]}], "samples": [{"hash": "bNjcnW4eJw5", "uri": "/contracts/bNjcnW4eJw5#parent-payments", "label": "Standard Community Vcal Contract", "score": 23.9295005798, "published": true}, {"hash": "4Px3pH8FYiy", "uri": "/contracts/4Px3pH8FYiy#parent-payments", "label": "Standard Community Vcal Contract", "score": 23.9295005798, "published": true}, {"hash": "6ue1yDaBDR1", "uri": "/contracts/6ue1yDaBDR1#parent-payments", "label": "Re Engagement Program Contract", "score": 23.5489387512, "published": true}], "snippet": "The Contractor must not request any payments from Parents for or in relation to the provision of a Program or Service except as permitted by the Department\u2019s Policy titled \u2018Parent Payments in Victorian Government Schools\u2019 (\u2018the Parent Payment Policy\u2019). Any request by the Contractor to Parents for payment (\"Request for Payment\") must comply with: the Parent Payments Policy; and the School Council\u2019s policy on parent payments. Prior to making a Request for Payment, the Contractor must obtain the prior approval of the School Council with respect to the amount of the payment and the form of the Request for Payment. For the avoidance of doubt, the Contractor acknowledges that no fees may be charged to parents for the provision of learning and teaching, instructional supports, materials and resources, administration and facilities associated with the provision of a Standard Curriculum Program.", "size": 12, "hash": "03563bea0dce5030145752a08eca902d", "id": 3}, {"snippet_links": [{"key": "pursuant-to-section", "type": "definition", "offset": [40, 59]}, {"key": "breach-of-this-agreement", "type": "clause", "offset": [86, 110]}, {"key": "by-parent", "type": "clause", "offset": [111, 120]}, {"key": "merger-sub", "type": "definition", "offset": [124, 134]}, {"key": "business-days", "type": "definition", "offset": [213, 226]}, {"key": "to-the-company", "type": "clause", "offset": [259, 273]}, {"key": "equal-to", "type": "definition", "offset": [284, 292]}, {"key": "parent-termination-fee", "type": "definition", "offset": [311, 333]}], "samples": [{"hash": "8NVe5f8UNc0", "uri": "/contracts/8NVe5f8UNc0#parent-payments", "label": "Merger Agreement (Monotype Imaging Holdings Inc.)", "score": 30.5633125305, "published": true}], "snippet": "If this Agreement is validly terminated pursuant to Section 8.1(g) due to the willful breach of this Agreement by Parent or Merger Sub or Section 8.1(i), then Parent must promptly (and in any event within two (2) Business Days) following such termination pay to the Company an amount equal to $49,500,000 (the \u201cParent Termination Fee\u201d).", "size": 5, "hash": "1ded1e0b9ecce96042951750cebab4e7", "id": 4}, {"snippet_links": [{"key": "to-the-company", "type": "clause", "offset": [30, 44]}, {"key": "reverse-termination-fee", "type": "clause", "offset": [51, 74]}, {"key": "transfer-of", "type": "clause", "offset": [85, 96]}, {"key": "immediately-available-funds", "type": "definition", "offset": [97, 124]}, {"key": "account-or-accounts", "type": "definition", "offset": [138, 157]}, {"key": "in-writing", "type": "definition", "offset": [169, 179]}, {"key": "by-the-company", "type": "clause", "offset": [180, 194]}, {"key": "days-after", "type": "definition", "offset": [220, 230]}, {"key": "this-agreement", "type": "clause", "offset": [257, 271]}, {"key": "pursuant-to-section", "type": "definition", "offset": [301, 320]}, {"key": "provided-that", "type": "definition", "offset": [358, 371]}, {"key": "sole-discretion", "type": "definition", "offset": [497, 512]}, {"key": "and-return", "type": "clause", "offset": [623, 633]}, {"key": "if-applicable", "type": "definition", "offset": [635, 648]}, {"key": "all-rights", "type": "clause", "offset": [692, 702]}, {"key": "action-or-proceeding", "type": "definition", "offset": [724, 744]}, {"key": "monetary-damages", "type": "clause", "offset": [749, 765]}, {"key": "in-accordance-with", "type": "definition", "offset": [781, 799]}, {"key": "amount-payable", "type": "definition", "offset": [896, 910]}, {"key": "tax-year", "type": "clause", "offset": [918, 926]}, {"key": "the-company-shall", "type": "clause", "offset": [930, 947]}, {"key": "lesser-of", "type": "definition", "offset": [963, 972]}, {"key": "payable-to", "type": "definition", "offset": [1005, 1015]}, {"key": "sum-of", "type": "clause", "offset": [1042, 1048]}, {"key": "maximum-amount", "type": "definition", "offset": [1057, 1071]}, {"key": "the-requirements", "type": "clause", "offset": [1148, 1164]}, {"key": "the-code", "type": "clause", "offset": [1197, 1205]}, {"key": "relevant-tax", "type": "definition", "offset": [1214, 1226]}, {"key": "payment-of", "type": "definition", "offset": [1254, 1264]}, {"key": "qualifying-income", "type": "definition", "offset": [1362, 1379]}, {"key": "the-company-has", "type": "definition", "offset": [1386, 1401]}, {"key": "in-addition-to", "type": "clause", "offset": [1493, 1507]}, {"key": "anticipated-income", "type": "definition", "offset": [1521, 1539]}, {"key": "each-case", "type": "definition", "offset": [1576, 1585]}, {"key": "independent-accountants", "type": "definition", "offset": [1618, 1641]}, {"key": "in-the-event-the", "type": "clause", "offset": [1652, 1668]}, {"key": "from-the-company", "type": "clause", "offset": [1706, 1722]}, {"key": "an-opinion", "type": "clause", "offset": [1846, 1856]}, {"key": "outside-counsel", "type": "definition", "offset": [1876, 1891]}, {"key": "equal-to", "type": "definition", "offset": [1945, 1953]}, {"key": "the-excess", "type": "clause", "offset": [1954, 1964]}, {"key": "under-clause", "type": "clause", "offset": [2020, 2032]}, {"key": "to-secure", "type": "clause", "offset": [2049, 2058]}, {"key": "obligation-to-pay", "type": "clause", "offset": [2068, 2085]}, {"key": "deposit-into-escrow", "type": "clause", "offset": [2114, 2133]}, {"key": "by-parent", "type": "clause", "offset": [2219, 2228]}, {"key": "mutually-agreed", "type": "clause", "offset": [2289, 2304]}, {"key": "the-escrow-agent", "type": "definition", "offset": [2337, 2353]}, {"key": "at-the-time", "type": "definition", "offset": [2468, 2479]}, {"key": "the-escrow-agreement", "type": "clause", "offset": [2586, 2606]}, {"key": "escrow-agent-shall", "type": "clause", "offset": [3329, 3347]}, {"key": "receipt-by-the", "type": "clause", "offset": [3508, 3522]}, {"key": "gross-income", "type": "definition", "offset": [3630, 3642]}, {"key": "meaning-of", "type": "definition", "offset": [3654, 3664]}, {"key": "legal-opinion", "type": "clause", "offset": [3756, 3769]}, {"key": "to-amend", "type": "definition", "offset": [4112, 4120]}, {"key": "reasonable-request", "type": "definition", "offset": [4149, 4167]}, {"key": "in-order-to", "type": "clause", "offset": [4183, 4194]}, {"key": "company-hereunder", "type": "clause", "offset": [4282, 4299]}, {"key": "assist-the", "type": "clause", "offset": [4412, 4422]}, {"key": "taxable-year", "type": "definition", "offset": [4639, 4651]}, {"key": "as-soon-as-possible", "type": "definition", "offset": [4666, 4685]}, {"key": "the-foregoing", "type": "definition", "offset": [4732, 4745]}, {"key": "year-five", "type": "clause", "offset": [4874, 4883]}, {"key": "to-parent", "type": "definition", "offset": [5018, 5027]}, {"key": "funds-remaining", "type": "definition", "offset": [5334, 5349]}], "samples": [{"hash": "70Ib9BhqfJB", "uri": "/contracts/70Ib9BhqfJB#parent-payments", "label": "Merger Agreement (Brookfield Property Partners L.P.)", "score": 29.238193512, "published": true}, {"hash": "OTIw2qFpev", "uri": "/contracts/OTIw2qFpev#parent-payments", "label": "Merger Agreement (Brookfield Asset Management Inc.)", "score": 29.2354545593, "published": true}, {"hash": "PiCoLQJEyI", "uri": "/contracts/PiCoLQJEyI#parent-payments", "label": "Merger Agreement (GGP Inc.)", "score": 29.232717514, "published": true}], "snippet": "Parent shall pay $1.2 billion to the Company (the \u201cReverse Termination Fee\u201d) by wire transfer of immediately available funds to an escrow account or accounts designated in writing by the Company, within two (2) Business Days after demand by the Company, if this Agreement is terminated by the Company pursuant to Section 8.01(b)(iii) or Section 8.01(b)(iv); provided that, in the event this Agreement is terminated by the Company pursuant to Section 8.01(b)(iv), the Company may, at the Company\u2019s sole discretion elect to either (i) receive the Reverse Termination Fee pursuant to this this Section 8.03(c) or (ii) reject (and return, if applicable) such Reverse Termination Fee and preserve all rights to pursue any claim, action or proceeding for monetary damages against Parent in accordance with Section 9.09.\n(i) In the event that Parent is obligated to pay the Reverse Termination Fee, the amount payable in any tax year of the Company shall not exceed the lesser of (i) the Reverse Termination Fee payable to the Company, and (ii) the sum of (A) the maximum amount that can be paid to the Company without causing the Company to fail to meet the requirements of Section 856(c)(2) and (3) of the Code for the relevant tax year, determined as if the payment of such amount did not constitute income described in Sections 856(c)(2) or 856(c)(3) of the Code (\u201cQualifying Income\u201d) and the Company has $1,000,000 of income from unknown sources during such year which is not Qualifying Income (in addition to any known or anticipated income which is not Qualifying Income), in each case, as determined by the Company\u2019s independent accountants, plus (B) in the event the Company receives either (x) a letter from the Company\u2019s counsel indicating that the Company has received a ruling from the IRS as described below in Section 8.03(c)(ii), or (y) an opinion from the Company\u2019s outside counsel as described below in Section 8.03(c)(ii), an amount equal to the excess of the Reverse Termination Fee less the amount payable under clause (A) above.\n(ii) To secure Parent\u2019s obligation to pay these amounts, Parent shall deposit into escrow an amount in cash equal to the Reverse Termination Fee with an escrow agent selected by Parent on such terms (subject to this Section 8.03(c)) as shall be mutually agreed upon by Parent, the Company and the escrow agent. The payment or deposit into escrow of the Reverse Termination Fee pursuant to this Section 8.03(c) shall be made at the time Parent is obligated to pay the Reverse Termination Fee pursuant to this Section 8.03(c) by wire transfer. The escrow agreement shall provide that the Reverse Termination Fee in escrow or any portion thereof shall not be released to the Company unless the escrow agent receives any one or combination of the following: (i) a letter from the Company\u2019s independent accountants indicating the maximum amount that can be paid by the escrow agent to the Company without causing the Company to fail to meet the requirements of Sections 856(c)(2) and (3) of the Code determined as if the payment of such amount did not constitute Qualifying Income and the Company has $1,000,000 of income from unknown sources during such year which is not Qualifying Income (in addition to any known or anticipated income which is not Qualifying Income), in which case the escrow agent shall release such amount to the Company, or (ii) a letter from the Company\u2019s counsel indicating that (A) the Company received a ruling from the IRS holding that the receipt by the Company of the Reverse Termination Fee would either constitute Qualifying Income or would be excluded from gross income within the meaning of Sections 856(c)(2) and (3) of the Code or (B) the Company\u2019s outside counsel has rendered a legal opinion to the effect that the receipt by the Company of the Reverse Termination Fee should either constitute Qualifying Income or should be excluded from gross income within the meaning of Sections 856(c)(2) and (3) of the Code, in which case the escrow agent shall release the remainder of the Reverse Termination Fee to the Company. Parent agrees to amend this Section 8.03(c) at the reasonable request of the Company in order to (i) maximize the portion of the Reverse Termination Fee that may be distributed to the Company hereunder without causing the Company to fail to meet the requirements of Sections 856(c)(2) and (3) of the Code, or (ii) assist the Company in obtaining a favorable ruling or legal opinion from its outside counsel, in each case, as described in this Section 8.03(c). Any amount of the Reverse Termination Fee that remains unpaid as of the end of a taxable year shall be paid as soon as possible during the following taxable year, subject to the foregoing limitations of this Section 8.03(c). Any amount of the Reverse Termination Fee that remains unpaid as of the end of the taxable year five (5) years after this Agreement is terminated by the Company pursuant to Section 8.01(b)(iii) or Section 8.01(b)(iv) shall be released to Parent. Notwithstanding anything in the foregoing to the contrary, in the event Parent has paid or caused to be paid to the Company the full amount of any damages awarded to the Company pursuant to any claim, action or proceeding against Parent pursuant to Section 9.09, whether directly or from such escrow, the funds remaining in such escrow, if any, shall be simultaneously released to Parent.", "size": 4, "hash": "7fd9330c565cabbf0782d821bf653bcd", "id": 5}, {"snippet_links": [{"key": "in-the-event", "type": "clause", "offset": [0, 12]}, {"key": "this-agreement", "type": "clause", "offset": [18, 32]}, {"key": "by-the-company", "type": "clause", "offset": [47, 61]}, {"key": "pursuant-to-section", "type": "definition", "offset": [62, 81]}, {"key": "to-the-company", "type": "clause", "offset": [146, 160]}, {"key": "parent-termination-fee", "type": "definition", "offset": [165, 187]}, {"key": "transfer-of", "type": "clause", "offset": [197, 208]}, {"key": "immediately-available-funds", "type": "definition", "offset": [209, 236]}, {"key": "account-or-accounts", "type": "definition", "offset": [243, 262]}, {"key": "in-writing", "type": "definition", "offset": [274, 284]}, {"key": "days-after", "type": "definition", "offset": [325, 335]}, {"key": "the-parties-hereto", "type": "clause", "offset": [354, 372]}, {"key": "in-no-event-shall", "type": "clause", "offset": [407, 424]}, {"key": "to-pay", "type": "clause", "offset": [444, 450]}, {"key": "one-occasion", "type": "definition", "offset": [491, 503]}, {"key": "provision-of", "type": "clause", "offset": [582, 594]}], "samples": [{"hash": "5C2vH3rKTXD", "uri": "/contracts/5C2vH3rKTXD#parent-payments", "label": "Merger Agreement (Vimicro International CORP)", "score": 24.7029438019, "published": true}, {"hash": "7pylueb6THz", "uri": "/contracts/7pylueb6THz#parent-payments", "label": "Merger Agreement (WSP Holdings LTD)", "score": 22.1403141022, "published": true}], "snippet": "In the event that this Agreement is terminated by the Company pursuant to Section 9.1(e) or Section 9.1(f), then in either case, Parent shall pay to the Company the Parent Termination Fee, by wire transfer of immediately available funds to an account or accounts designated in writing by the Company, within two (2) Business Days after such termination. The parties hereto acknowledge and hereby agree that in no event shall Parent be required to pay the Parent Termination Fee on more than one occasion, whether or not the Parent Termination Fee may be payable under more than one provision of this Agreement at the same or at different times and the occurrence of different events.", "size": 3, "hash": "f8bb121069a9194000d5944fcb25e6b3", "id": 6}, {"snippet_links": [{"key": "by-the-company", "type": "clause", "offset": [44, 58]}, {"key": "pursuant-to-section", "type": "definition", "offset": [59, 78]}, {"key": "parent-or-merger-sub-breach", "type": "clause", "offset": [87, 114]}, {"key": "failure-to-close", "type": "definition", "offset": [142, 158]}, {"key": "termination-date", "type": "clause", "offset": [221, 237]}, {"key": "time-at-which", "type": "clause", "offset": [245, 258]}, {"key": "right-to-terminate-this-agreement", "type": "clause", "offset": [279, 312]}, {"key": "business-days", "type": "definition", "offset": [474, 487]}, {"key": "a-termination", "type": "definition", "offset": [505, 518]}, {"key": "parent-termination-fee", "type": "definition", "offset": [545, 567]}, {"key": "transfer-of", "type": "clause", "offset": [578, 589]}, {"key": "immediately-available-funds", "type": "definition", "offset": [590, 617]}, {"key": "account-or-accounts", "type": "definition", "offset": [624, 643]}, {"key": "in-writing", "type": "definition", "offset": [655, 665]}], "samples": [{"hash": "1yCuK4HNH9I", "uri": "/contracts/1yCuK4HNH9I#parent-payments", "label": "Merger Agreement (Perficient Inc)", "score": 35.3436012268, "published": true}], "snippet": "If this Agreement is validly terminated (i) by the Company pursuant to Section 8.1(g) (Parent or Merger Sub Breach) or Section 8.1(i) (Parent Failure to Close) or (ii) by the Company or Parent pursuant to Section 8.1(c) (Termination Date) (at a time at which the Company had the right to terminate this Agreement pursuant to Section 8.1(g) (Parent or Merger Sub Breach) or Section 8.1(i) (Parent Failure to Close)), then Parent shall promptly (and in any event within three Business Days) pay the Company a termination fee of $162,637,888 (the \u201cParent Termination Fee\u201d) by wire transfer of immediately available funds to an account or accounts designated in writing by the Company.", "size": 3, "hash": "049a4823ec67ae8b2bb53b38f427054b", "id": 7}, {"snippet_links": [{"key": "this-agreement", "type": "clause", "offset": [3, 17]}, {"key": "to-the-extent", "type": "clause", "offset": [104, 117]}, {"key": "the-law", "type": "clause", "offset": [118, 125]}, {"key": "termination-right", "type": "clause", "offset": [177, 194]}, {"key": "relates-to", "type": "definition", "offset": [195, 205]}, {"key": "antitrust-laws", "type": "definition", "offset": [219, 233]}, {"key": "in-the-case", "type": "clause", "offset": [258, 269]}, {"key": "termination-pursuant-to-section", "type": "clause", "offset": [275, 306]}, {"key": "at-the-time", "type": "definition", "offset": [333, 344]}, {"key": "the-conditions", "type": "clause", "offset": [376, 390]}, {"key": "section-72", "type": "clause", "offset": [584, 595]}, {"key": "at-the-closing", "type": "clause", "offset": [691, 705]}, {"key": "capable-of", "type": "definition", "offset": [724, 734]}, {"key": "breach-or-failure-to-perform", "type": "clause", "offset": [866, 894]}, {"key": "section-62", "type": "clause", "offset": [932, 943]}, {"key": "by-parent", "type": "clause", "offset": [962, 971]}, {"key": "ultimate-parent", "type": "definition", "offset": [973, 988]}, {"key": "merger-sub", "type": "definition", "offset": [992, 1002]}, {"key": "to-the-company", "type": "clause", "offset": [1068, 1082]}, {"key": "equal-to", "type": "definition", "offset": [1093, 1101]}, {"key": "parent-termination-fee", "type": "definition", "offset": [1121, 1143]}, {"key": "business-days", "type": "definition", "offset": [1188, 1201]}, {"key": "transfer-of", "type": "clause", "offset": [1240, 1251]}, {"key": "immediately-available-funds", "type": "definition", "offset": [1252, 1279]}, {"key": "account-or-accounts", "type": "definition", "offset": [1286, 1305]}, {"key": "in-writing", "type": "definition", "offset": [1317, 1327]}, {"key": "by-the-company", "type": "clause", "offset": [1328, 1342]}], "samples": [{"hash": "9hPi8PioCwi", "uri": "/contracts/9hPi8PioCwi#parent-payments", "label": "Merger Agreement (CVS HEALTH Corp)", "score": 34.1033554077, "published": true}, {"hash": "27DKFchy8Gg", "uri": "/contracts/27DKFchy8Gg#parent-payments", "label": "Merger Agreement (Oak Street Health, Inc.)", "score": 34.1033554077, "published": true}], "snippet": "If this Agreement is validly terminated by (x) Parent or the Company pursuant to Section 8.1(b) (solely to the extent the Law, judgment, injunction or order giving rise to such termination right relates to U.S. federal Antitrust Laws) or Section 8.1(c) and, in the case of a termination pursuant to Section 8.1(b) or Section 8.1(c), at the time of such valid termination, (1) the conditions set forth in Section 7.1(b) or Section 7.1(c) shall have not been satisfied, (2) the conditions set forth in Section 7.1(a) shall have been satisfied and (3) all of the conditions set forth in Section 7.2 shall have been satisfied (other than those conditions that by their terms are to be satisfied at the Closing, each of which is capable of being satisfied if the Closing were to occur on such date) or waived, or (y) the Company pursuant to Section 8.1(g) by reason of a breach or failure to perform a covenant or agreement set forth in Section 6.2 of this Agreement by Parent, Ultimate Parent or Merger Sub, then, in each such case, Parent shall pay, or cause to be paid, to the Company an amount equal to $500,000,000 (the \u201cParent Termination Fee\u201d) promptly (and in any event within two (2) Business Days) after such valid termination by wire transfer of immediately available funds to an account or accounts designated in writing by the Company.", "size": 2, "hash": "a51e362acda60cb07457f0775589bd6a", "id": 8}, {"snippet_links": [{"key": "company-a", "type": "definition", "offset": [24, 33]}, {"key": "equal-to", "type": "definition", "offset": [38, 46]}, {"key": "parent-termination-fee", "type": "definition", "offset": [75, 97]}, {"key": "transfer-of", "type": "clause", "offset": [109, 120]}, {"key": "immediately-available-funds", "type": "definition", "offset": [121, 148]}, {"key": "account-or-accounts", "type": "definition", "offset": [155, 174]}, {"key": "in-writing", "type": "definition", "offset": [186, 196]}, {"key": "pursuant-to-section", "type": "definition", "offset": [286, 305]}, {"key": "the-applicable-law", "type": "clause", "offset": [317, 335]}, {"key": "applicable-order", "type": "definition", "offset": [347, 363]}, {"key": "arising-out-of", "type": "definition", "offset": [383, 397]}, {"key": "legal-proceeding", "type": "definition", "offset": [410, 426]}, {"key": "antitrust-laws", "type": "definition", "offset": [442, 456]}, {"key": "based-on", "type": "definition", "offset": [507, 515]}, {"key": "breach-of-section", "type": "clause", "offset": [518, 535]}, {"key": "each-case", "type": "definition", "offset": [564, 573]}, {"key": "relates-to", "type": "definition", "offset": [580, 590]}, {"key": "conditions-to-closing", "type": "definition", "offset": [716, 737]}, {"key": "article-vii", "type": "clause", "offset": [751, 762]}, {"key": "actions-taken", "type": "clause", "offset": [875, 888]}, {"key": "at-the-closing", "type": "clause", "offset": [889, 903]}, {"key": "capable-of", "type": "definition", "offset": [928, 938]}, {"key": "date-from", "type": "definition", "offset": [970, 979]}, {"key": "the-notice-of-termination", "type": "clause", "offset": [989, 1014]}, {"key": "with-respect-to", "type": "clause", "offset": [1106, 1121]}, {"key": "legal-restraint", "type": "clause", "offset": [1167, 1182]}, {"key": "in-the-event", "type": "clause", "offset": [1273, 1285]}, {"key": "date-of-this-agreement", "type": "definition", "offset": [1358, 1380]}, {"key": "termination-of-this-agreement", "type": "clause", "offset": [1389, 1418]}, {"key": "agreement-in-principle", "type": "definition", "offset": [1484, 1506]}, {"key": "letter-of-intent", "type": "clause", "offset": [1508, 1524]}, {"key": "term-sheet", "type": "definition", "offset": [1526, 1536]}, {"key": "merger-agreement", "type": "clause", "offset": [1538, 1554]}, {"key": "acquisition-agreement", "type": "definition", "offset": [1556, 1577]}, {"key": "agreement-or", "type": "definition", "offset": [1586, 1598]}, {"key": "stock-purchase", "type": "definition", "offset": [1674, 1688]}, {"key": "purchase-of-assets", "type": "clause", "offset": [1727, 1745]}, {"key": "ownership-interest", "type": "clause", "offset": [1776, 1794]}, {"key": "any-person", "type": "clause", "offset": [1808, 1818]}, {"key": "material-delay", "type": "definition", "offset": [1837, 1851]}, {"key": "consummation-of-the-merger", "type": "clause", "offset": [1891, 1917]}, {"key": "additional-fee", "type": "definition", "offset": [1959, 1973]}, {"key": "in-the-case", "type": "clause", "offset": [2231, 2242]}, {"key": "termination-by-parent", "type": "clause", "offset": [2347, 2368]}, {"key": "business-days", "type": "definition", "offset": [2388, 2401]}, {"key": "termination-by-the-company", "type": "clause", "offset": [2447, 2473]}], "samples": [{"hash": "M8YiZ8QE6V", "uri": "/contracts/M8YiZ8QE6V#parent-payments", "label": "Merger Agreement (Neophotonics Corp)", "score": 32.8521575928, "published": true}, {"hash": "2D4nZGjjpyc", "uri": "/contracts/2D4nZGjjpyc#parent-payments", "label": "Merger Agreement (Lumentum Holdings Inc.)", "score": 32.8439407349, "published": true}], "snippet": "Parent shall pay to the Company a fee equal to:\n(i) $55,100,000 (the \u201cBase Parent Termination Fee\u201d), by wire transfer of immediately available funds to an account or accounts designated in writing by the Company, if this Agreement is terminated as follows:\n(1) by Parent or the Company pursuant to Section 8.1(c), if the Applicable Law is, or the applicable Order is pursuant to, or arising out of or from any Legal Proceeding involving, any Antitrust Laws;\n(2) by the Company pursuant to Section 8.1(e)(i) based on a breach of Section 6.5(a) or Section 6.5(d) in each case as it relates to Antitrust Laws; or\n(3) by Parent or the Company pursuant to Section 8.1(d), if, as of the time of such termination, the only conditions to Closing set forth in Article VII that have not been satisfied or waived (other than those conditions that by their nature are to be satisfied by actions taken at the Closing, each of which shall be capable of being satisfied if the Closing Date from the date the notice of termination is delivered) are any of those set forth in (A) Section 7.1(b) or (B) Section 7.1(c) (but, with respect to Section 7.1(c), only if such Applicable Law, Legal Restraint or other restriction is pursuant to or arising out of or from an Antitrust Law); and\n(ii) In the event that (A) the Base Parent Termination Fee is payable and (B) between the date of this Agreement and the termination of this Agreement, Parent or any of its Affiliates enters into any enters into any agreement in principle, letter of intent, term sheet, merger agreement, acquisition agreement, option agreement or other similar agreement or other similar instrument for an acquisition (by stock purchase, merger, consolidation, amalgamation, purchase of assets, license or otherwise) of any ownership interest or assets of any Person that has caused a material delay in, or resulted in the failure of, the consummation of the Merger, then Parent shall pay to the Company an additional fee equal to $36,700,000 (the \u201cAdditional Parent Termination Fee\u201d and, together with the Base Parent Termination Fee, the \u201cParent Termination Fee\u201d), by wire transfer of immediately available funds to an account or accounts designated in writing by the Company; in the case of clause (i) and (ii), such payment(s) to be made concurrently with such termination, in the case of a termination by Parent, or within two (2) Business Days following such termination, in the case of a termination by the Company.", "size": 2, "hash": "78b2993d9cf197994c9efcb52beac890", "id": 9}, {"snippet_links": [{"key": "company-a", "type": "definition", "offset": [24, 33]}, {"key": "equal-to", "type": "definition", "offset": [38, 46]}, {"key": "parent-termination-fee", "type": "definition", "offset": [65, 87]}, {"key": "transfer-of", "type": "clause", "offset": [98, 109]}, {"key": "immediately-available-funds", "type": "definition", "offset": [110, 137]}, {"key": "account-or-accounts", "type": "definition", "offset": [144, 163]}, {"key": "in-writing", "type": "definition", "offset": [175, 185]}, {"key": "this-agreement", "type": "clause", "offset": [205, 219]}, {"key": "pursuant-to-section", "type": "definition", "offset": [275, 294]}, {"key": "the-applicable-law", "type": "clause", "offset": [306, 324]}, {"key": "antitrust-laws", "type": "definition", "offset": [373, 387]}, {"key": "payment-to", "type": "clause", "offset": [394, 404]}, {"key": "in-the-case", "type": "clause", "offset": [449, 460]}, {"key": "termination-by-parent", "type": "clause", "offset": [466, 487]}, {"key": "business-days", "type": "definition", "offset": [503, 516]}, {"key": "termination-by-the-company", "type": "clause", "offset": [562, 588]}, {"key": "conditions-to-closing", "type": "definition", "offset": [700, 721]}, {"key": "article-vii", "type": "clause", "offset": [735, 746]}, {"key": "actions-taken", "type": "clause", "offset": [849, 862]}, {"key": "at-the-closing", "type": "clause", "offset": [863, 877]}, {"key": "capable-of", "type": "definition", "offset": [902, 912]}, {"key": "the-closing-date", "type": "clause", "offset": [932, 948]}, {"key": "the-notice-of-termination", "type": "clause", "offset": [963, 988]}, {"key": "an-order", "type": "clause", "offset": [1074, 1082]}], "samples": [{"hash": "bthdJHrhQRh", "uri": "/contracts/bthdJHrhQRh#parent-payments", "label": "Merger Agreement (Lumentum Holdings Inc.)", "score": 29.1916503906, "published": true}, {"hash": "5F6muDrnu2t", "uri": "/contracts/5F6muDrnu2t#parent-payments", "label": "Merger Agreement (Oclaro, Inc.)", "score": 29.1916503906, "published": true}], "snippet": "Parent shall pay to the Company a fee equal to $80,000,000 (the \u201cParent Termination Fee\u201d) by wire transfer of immediately available funds to an account or accounts designated in writing by the Company, if this Agreement is terminated as follows:\n(i) by Parent or the Company pursuant to Section 8.1(c), if the Applicable Law is an Antitrust Law or the Order is pursuant to Antitrust Laws, such payment to be made concurrently with such termination, in the case of a termination by Parent, or within two Business Days following such termination, in the case of a termination by the Company; or\n(ii) by Parent or the Company pursuant to Section 8.1(d), if, as of the time of such termination, the only conditions to Closing set forth in Article VII that have not been satisfied (other than those conditions that by their nature are to be satisfied by actions taken at the Closing, each of which shall be capable of being satisfied if the Closing Date were the date the notice of termination is delivered) are those set forth in Section 7.1(b) or Section 7.1(c) (solely due to an Order arising under, or an Applicable Law that is, an Antitrust Law), such payment to be made concurrently with such termination, in the case of a termination by Parent, or within two Business Days following such termination, in the case of a termination by the Company.", "size": 2, "hash": "0b5bfe5d5841e4a0777bb417304b9963", "id": 10}], "next_curs": "ClgSUmoVc35sYXdpbnNpZGVyY29udHJhY3RzcjQLEhZDbGF1c2VTbmlwcGV0R3JvdXBfdjU2IhhwYXJlbnQtcGF5bWVudHMjMDAwMDAwMGEMogECZW4YACAA", "clause": {"children": [["interest-and-costs-other-remedies", "Interest and Costs; Other Remedies"], ["payment", "Payment"], ["expenses", "Expenses"], ["interpretation", "Interpretation"], ["notices", "Notices"]], "size": 101, "title": "Parent Payments", "parents": [["fees-and-expenses", "Fees and Expenses"], ["termination-amendment-and-waiver", "Termination Amendment and Waiver"], ["termination", "Termination"], ["representations-and-warranties-of-parent-and-merger-sub", "REPRESENTATIONS AND WARRANTIES OF PARENT AND MERGER SUB"], ["tax-matters", "Tax Matters"]], "id": "parent-payments", "related": [["settlement-payments", "Settlement Payments", "Settlement Payments"], ["cash-payments", "Cash Payments", "Cash Payments"], ["rent-payments", "Rent Payments", "Rent Payments"], ["installment-payments", "Installment Payments", "Installment Payments"], ["contingent-payments", "Contingent Payments", "Contingent Payments"]], "related_snippets": [], "updated": "2026-02-12T06:00:13+00:00", "also_ask": [], "drafting_tip": null, "explanation": "The Parent Payments clause outlines the obligations of a parent entity to make payments on behalf of its subsidiary or related party under an agreement. Typically, this clause specifies the circumstances under which the parent must pay, such as if the subsidiary fails to meet its financial commitments, and may detail the process for invoicing and payment timelines. Its core practical function is to provide assurance to the other party that payment will be received, thereby reducing credit risk and enhancing the enforceability of financial obligations."}, "json": true, "cursor": ""}}