Common use of Payment of Break Fee or Reverse Break Fee Clause in Contracts

Payment of Break Fee or Reverse Break Fee. If the Break Fee or Reverse Break Fee become payable under this Agreement, Pushpay or the Bidder (as the case requires) must pay it to or as directed by the other party without withholding or set-off (except as required by law) within 13 Business Days after receipt of a written demand for payment from the other party. The obligation to make the payment described in the preceding sentence will be satisfied by the payment of the relevant amount in immediately available funds to the recipient’s nominated account. For the avoidance of doubt, if only a portion of the Break Fee or the Reverse Break Fee is held by a Court to be enforceable, that portion which is payable must be paid within 13 Business Days of the relevant determination.

Payment of Break Fee or Reverse Break Fee. If the Break Fee or the Reverse Break Fee become payable under this Agreementagreement, Pushpay the Company or the Bidder Acquirer (as the case requires) must pay it to or as directed by the other party without withholding or set-off (except as required by law) within 13 10 Business Days after receipt of a written demand for payment from the other party. The obligation to make the payment described in the preceding sentence will be satisfied by the payment of the relevant amount in immediately available funds to the recipient’s nominated account. For the avoidance of doubt, if only a portion of the Break Fee or the Reverse Break Fee is held by a Court to be enforceable, that portion which is payable must be paid within 13 10 Business Days of the relevant determination.