Common use of PAYMENT OF CONTINGENT MERGER CONSIDERATION Clause in Contracts

PAYMENT OF CONTINGENT MERGER CONSIDERATION. The Contingent Merger Consideration shall be paid in a combination of cash, Class A Common Stock and Series M-2003 Preferred Stock within two business days after the amount thereof has been determined. The amount of the Contingent Merger Consideration to be paid in Lithia stock shall equal CSP in the formula: Where: X = the sum of the Contingent Merger Consideration payable under this Agreement plus the Contingent Merger Consideration payable under all of the Other Reorganization Agreements; Y = the Contingent Merger Consideration payable under this Agreement; and Z = X minus the Contingent Merger Consideration payable under the Other Reorganization Agreements relating to the acquisition of L.A.H. Automotive Enterprises, Inc. and Reno Auto Sales, Inc.

PAYMENT OF CONTINGENT MERGER CONSIDERATION. The Contingent Merger Consideration shall be paid in a combination of cash, Class A Common Stock and Series M-2003 Preferred Stock within two business days after the amount thereof has been determinedStock. The amount of the Contingent Merger Consideration to be paid in Lithia stock shall equal CSP in the formula: X Y CSP = --- x --- 2 Z Where: X = the sum of the Contingent Merger Consideration payable under this Agreement plus the Contingent Merger Consideration payable under all of the Other Reorganization Agreements; Y = the Contingent Merger Consideration payable under this Agreement; and Z = X minus the Contingent Merger Consideration payable under the Other Reorganization Agreements relating to the acquisition of L.A.H. Automotive Enterprises, Inc. and Reno Auto Sales, Inc.