Second Year Period Sample Clauses

Second Year Period. The subsequent payment corresponding to the Second Year Period (the “Second Earnout Payment”), shall be the Second Earnout Payment for the Second Year Period, provided that the Second Year Achieved Revenue and the Minimum Gross Margin is greater than or 7 Initial ISH Initial YS equal to the Second Year Target Revenue and the Minimum Gross Margin. If the Second Year Achieved Revenue is: (i) less than the Second Year Target Revenue, and (ii) less than the Minimum Gross Margin, then the Earnout Payment for the Second Year Period shall be equal to zero. Alternatively, however, if the Second Year Achieved Revenue is greater than or equal to the target revenue of any subsequent years target revenue, and there is a Minimum Gross Margin corresponding to that year, then in that event the Earnout Payment shall be the Earnout Payment corresponding to the year for which the target revenue was achieved. However, at no time shall the aggregate Earnout Payments exceed the Maximum Earnout Payment.
Sample 1
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Second Year Period. Following the end of the Second Year Period, the Purchaser shall issue to the Sellers, in accordance with this Section 2.5, a payment of Additional Consideration as follows: (A) If (1) the EBITDA of the New Business Segment for the First Year Period is greater than or equal to the Additional Consideration Target, or (2) in the event of a Missed First Year Target, the EBITDA of the New Business Segment for the Second Year Period is greater than or equal to the Additional Consideration Target, then the Purchaser shall issue to the Sellers that number of shares of Common Stock equal to the quotient obtained by dividing $3,111,112 by the Closing Share Price (the “Second Year Stock Issuance”). (B) If, in the event of a Missed First Year Target, the EBITDA of the New Business Segment for the Second Year Period is less than the Additional Consideration Target (a “Missed Second Year Target”), then the Purchaser shall issue to the Sellers that number of shares of Common Stock equal to (x) the Target Percentage for the Second Year Period multiplied by (y) the Second Year Stock Issuance (the “Adjusted Second Year Stock Issuance”); provided that, if the EBITDA of the New Business Segment for the Second Year Period is less than the EBITDA Floor, Purchaser shall have no obligation to pay any Adjusted Second Year Stock Issuance to Sellers at the end of the Second Year Period.
Sample 1
Second Year Period. Following the end of the Second Year Period, if the Second Year Earn-Out Net Income exceeds the greater of (a) the Additional Consideration Target and (b) the First Year Earn-Out Net Income (the amount of such excess, the “Second Year Excess Amount”), then Parent shall pay to the Members an amount equal to the Second Year Excess Amount in accordance with Section 2.9(c)(v).
Sample 1

Related to Second Year Period

  • PRORATION PERIOD The Tenant: (check one)

  • Election Period The period which begins on the first day of the Plan Year in which the Participant attains age thirty-five (35) and ends on the date of the Participant’s death. If a Participant separates from Service prior to the first day of the Plan Year in which age thirty-five (35) is attained, the Election Period shall begin on the date of separation, with respect to the account balance as of the date of separation.

  • Meal Period Employees shall receive a meal period which shall commence no less than two (2) hours nor more than five (5) hours from the beginning of the employee's regular shift or when the employee is called in to work on their regular day off. The meal period shall be no less than one-half (½) hour nor more than one (1) hour in duration and shall be without compensation. Should an employee be required to work in excess of five (5) continuous hours from the commencement of their regular shift without being provided a meal period, the employee shall be compensated two (2) times the employee's straight-time hourly rate of pay for the time worked during their normal meal period and be afforded a meal period at the first available opportunity during working hours without compensation.

  • Fiscal Year; Taxable Year The fiscal year and the taxable year of the Company is the calendar year.

  • week period If an employee fails to return at the end of the family care or medical leave, the CSU may require repayment of insurance premiums paid during the unpaid portion of the leave. The CSU shall not require repayment of premiums if the employee's failure to return is due to his/her serious health condition or due to circumstances beyond the employee's control.

  • Computation Period Interest on the Loans and all other amounts payable by Borrower hereunder on a per annum basis shall be computed on the basis of a 360-day year and the actual number of days elapsed (including the first day but excluding the last day) unless such calculation would result in a usurious rate or to the extent such Loan bears interest based upon the Base Rate, in which case interest shall be calculated on the basis of a 365-day year or 366-day year, as the case may be. In computing the number of days during which interest accrues, the day on which funds are initially advanced shall be included regardless of the time of day such advance is made, and the day on which funds are repaid shall be included unless repayment is credited prior to the close of business on the Business Day received. Each determination by Administrative Agent of an interest rate or fee hereunder shall be conclusive and binding for all purposes, absent manifest error.

  • Payment Period Whenever a payment under this Agreement specifies a payment period with reference to a number of days, the actual date of payment within the specified period shall be within the sole discretion of Company.

  • Measurement Period In this Agreement, unless the contrary intention appears, a reference to:

  • Payment and Year-End Adjustment Amounts accrued pursuant to this Agreement shall be payable to the Adviser as of the last day of each month. If necessary, on or before the last day of the first month of each fiscal year, an adjustment payment shall be made by the appropriate party in order that the actual Fund Operating Expenses of a Fund for the prior fiscal year (including any reimbursement payments hereunder with respect to such fiscal year) do not exceed the Maximum Annual Operating Expense Limit.

  • Duty Year A. The duty year for teachers shall not exceed 187 days, including days for professional activities. B. Except when school is delayed due to inclement weather, all bargaining unit members shall be released two and one-half (2.5) hours early on the workdays preceding the Thanksgiving and Christmas holidays. C. Bargaining unit members shall be provided with time within the work year for the following duties and responsibilities: Parent Conferences: 1. Two (2) days for parent conferences 2. Staff Development: a. Two (2) days prior to the start of school shall be used for professional and staff development activities, as determined by the Superintendent or his/her designee. b. Half-days within the workday and throughout the work year, as determined by the Superintendent or his/her designee.

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