{"component": "clause", "props": {"groups": [{"snippet": "The final accounting shall take place within one hundred twenty (120) Days of the first to occur of (i) the Commercial Operations Date, (ii) the date this Agreement is declared null and void under either Section 12.5 (Prior to Effective Date) or Section 12.6 (Time Periods for PUC Submittal Date and PUC Approval) of this Agreement, or (iii) the date this Agreement is terminated, whichever occurs first. Company shall be entitled to an extension for a commercially reasonable amount of time to complete the final accounting if a delay in such completion is caused by Seller's delay or failure to respond to any Company request for information needed to complete the final accounting or take any action necessary for Company to complete the final accounting. Upon completion of the final accounting, Company shall deliver to Seller an invoice for payment of the amount, if any, of the difference between the Total Estimated Interconnection Cost paid to date and the Total Actual Interconnection Cost, which is the final accounting of the Total Interconnection Costs. Payment of such invoice shall be made within thirty (30) Days of receipt of such invoice from Company. If the Total Actual Interconnection Cost is less than the payments received by Company as the Total Estimated Interconnection Cost, Company shall repay the difference to Seller within thirty (30) Days of the final accounting.", "size": 34, "snippet_links": [{"key": "final-accounting", "type": "clause", "offset": [4, 20]}, {"key": "commercial-operations-date", "type": "clause", "offset": [108, 134]}, {"key": "this-agreement", "type": "clause", "offset": [150, 164]}, {"key": "null-and-void", "type": "definition", "offset": [177, 190]}, {"key": "prior-to-effective-date", "type": "clause", "offset": [218, 241]}, {"key": "section-126", "type": "clause", "offset": [246, 258]}, {"key": "time-periods-for-puc-submittal-date-and-puc-approval", "type": "clause", "offset": [260, 312]}, {"key": "reasonable-amount", "type": "definition", "offset": [466, 483]}, {"key": "complete-the", "type": "clause", "offset": [495, 507]}, {"key": "completion-is", "type": "clause", "offset": [544, 557]}, {"key": "by-seller", "type": "clause", "offset": [565, 574]}, {"key": "respond-to", "type": "definition", "offset": [597, 607]}, {"key": "information-needed", "type": "clause", "offset": [632, 650]}, {"key": "any-action", "type": "definition", "offset": [692, 702]}, {"key": "for-company", "type": "clause", "offset": [713, 724]}, {"key": "upon-completion-of-the", "type": "clause", "offset": [759, 781]}, {"key": "deliver-to-seller", "type": "clause", "offset": [814, 831]}, {"key": "payment-of-the", "type": "clause", "offset": [847, 861]}, {"key": "total-estimated-interconnection-cost", "type": "definition", "offset": [908, 944]}, {"key": "paid-to-date", "type": "definition", "offset": [945, 957]}, {"key": "total-actual-interconnection-cost", "type": "definition", "offset": [966, 999]}, {"key": "interconnection-costs", "type": "definition", "offset": [1044, 1065]}, {"key": "within-thirty", "type": "clause", "offset": [1105, 1118]}, {"key": "receipt-of", "type": "clause", "offset": [1132, 1142]}, {"key": "by-company", "type": "clause", "offset": [1246, 1256]}], "samples": [{"hash": "csO9WbF9et0", "uri": "/contracts/csO9WbF9et0#true-up", "label": "Power Purchase Agreement", "score": 35.9222602844, "published": true}, {"hash": "8BSpezmdl6A", "uri": "/contracts/8BSpezmdl6A#true-up", "label": "Power Purchase Agreement", "score": 26.6536617279, "published": true}, {"hash": "dUsbI2s9Iy1", "uri": "/contracts/dUsbI2s9Iy1#true-up", "label": "Power Purchase Agreement", "score": 26.5455169678, "published": true}], "hash": "5c03ace0efc354fd922155661e5d2aff", "id": 5}, {"snippet": "Pursuant to Section 2.5 of this Agreement, the following calculation applies to determine any payment due by the Assuming Institution to the Receiver on the True-Up Date. All capitalized terms used in this Exhibit 2.5 have the meanings defined or referenced in Article 8 of this Agreement.", "size": 38, "snippet_links": [{"key": "pursuant-to-section", "type": "clause", "offset": [0, 19]}, {"key": "this-agreement", "type": "clause", "offset": [27, 41]}, {"key": "to-determine", "type": "clause", "offset": [77, 89]}, {"key": "payment-due", "type": "definition", "offset": [94, 105]}, {"key": "assuming-institution", "type": "clause", "offset": [113, 133]}, {"key": "up-date", "type": "definition", "offset": [162, 169]}, {"key": "capitalized-terms-used", "type": "definition", "offset": [175, 197]}, {"key": "this-exhibit", "type": "definition", "offset": [201, 213]}, {"key": "the-meanings", "type": "definition", "offset": [223, 235]}, {"key": "article-8", "type": "definition", "offset": [261, 270]}], "samples": [{"hash": "8Igv83XYklj", "uri": "/contracts/8Igv83XYklj#true-up", "label": "Purchase and Assumption Agreement (HCBF Holding Company, Inc.)", "score": 28.2991104126, "published": true}, {"hash": "1IcSZcYQqHP", "uri": "/contracts/1IcSZcYQqHP#true-up", "label": "Purchase and Assumption Agreement (Talmer Bancorp, Inc.)", "score": 25.024641037, "published": true}, {"hash": "2LkOIBxF18v", "uri": "/contracts/2LkOIBxF18v#true-up", "label": "Purchase and Assumption Agreement (Hilltop Holdings Inc.)", "score": 24.7152633667, "published": true}], "hash": "4541c1f3dfcf5a60a4ed37a3f93ebfff", "id": 4}, {"snippet": "Masterworks Gallery will be entitled to receive a true-up equal to 11% of the purchase price of the Artwork. The true-up will be deemed to be earned upon the acquisition of the Artwork by the segregated portfolio of Masterworks Cayman SPC that is wholly owned by the Company, but payment will be paid in installments upon each closing of the Offering in cash and or a combination of cash and Class A shares of the Company (valued at $20 per share for such purposes). Unless the Parties otherwise agree to a different allocation, each payment that occurs in connection with a closing of the Offering shall be prorated between the true-up and the advance based on the relative size of each obligation. Under no circumstances will any portion of the true-up remain as an outstanding obligation of the Company following the final closing of the Offering and the application of the use of proceeds therefrom.", "size": 142, "snippet_links": [{"key": "to-receive", "type": "definition", "offset": [37, 47]}, {"key": "equal-to", "type": "definition", "offset": [58, 66]}, {"key": "the-artwork", "type": "clause", "offset": [96, 107]}, {"key": "the-acquisition", "type": "clause", "offset": [154, 169]}, {"key": "segregated-portfolio", "type": "definition", "offset": [192, 212]}, {"key": "by-the-company", "type": "clause", "offset": [260, 274]}, {"key": "closing-of-the-offering", "type": "definition", "offset": [327, 350]}, {"key": "shares-of-the-company", "type": "definition", "offset": [400, 421]}, {"key": "the-parties", "type": "definition", "offset": [474, 485]}, {"key": "agree-to", "type": "clause", "offset": [496, 504]}, {"key": "in-connection-with", "type": "clause", "offset": [554, 572]}, {"key": "a-closing", "type": "definition", "offset": [573, 582]}, {"key": "the-advance", "type": "clause", "offset": [641, 652]}, {"key": "based-on", "type": "definition", "offset": [653, 661]}, {"key": "no-circumstances", "type": "clause", "offset": [706, 722]}, {"key": "obligation-of-the-company", "type": "clause", "offset": [780, 805]}, {"key": "the-final-closing", "type": "clause", "offset": [816, 833]}, {"key": "application-of-the", "type": "clause", "offset": [858, 876]}, {"key": "use-of-proceeds", "type": "definition", "offset": [877, 892]}], "samples": [{"hash": "h4cqBQXXgXu", "uri": "/contracts/h4cqBQXXgXu#true-up", "label": "Masterworks Intercompany Agreement (Masterworks 254, LLC)", "score": 33.1054077148, "published": true}, {"hash": "iEJQ8lTAREY", "uri": "/contracts/iEJQ8lTAREY#true-up", "label": "Intercompany Agreement (Masterworks 289, LLC)", "score": 32.4483222961, "published": true}, {"hash": "en62YthwXiX", "uri": "/contracts/en62YthwXiX#true-up", "label": "Intercompany Agreement (Masterworks 288, LLC)", "score": 32.4291572571, "published": true}], "hash": "94b7876f618c1f56835fe07fa8fde832", "id": 1}, {"snippet": "This section applies only to Tennessee and other rates that are interim or expressly subject to true-up under this attachment.\n13.1 The interim prices for Network Elements and Other Services and Local Interconnection shall be subject to true-up according to the following procedures:\n13.2 The interim prices shall be trued-up, either up or down, based on final prices determined either by further agreement between the Parties, or by a final order (including any appeals) of the Commission which final order meets the criteria of", "size": 14, "snippet_links": [{"key": "other-rates", "type": "clause", "offset": [43, 54]}, {"key": "subject-to", "type": "definition", "offset": [85, 95]}, {"key": "network-elements", "type": "clause", "offset": [155, 171]}, {"key": "services-and", "type": "clause", "offset": [182, 194]}, {"key": "local-interconnection", "type": "clause", "offset": [195, 216]}, {"key": "according-to", "type": "definition", "offset": [245, 257]}, {"key": "based-on", "type": "definition", "offset": [346, 354]}, {"key": "agreement-between-the-parties", "type": "clause", "offset": [397, 426]}, {"key": "final-order", "type": "clause", "offset": [436, 447]}, {"key": "the-commission", "type": "clause", "offset": [475, 489]}, {"key": "the-criteria", "type": "clause", "offset": [514, 526]}], "samples": [{"hash": "aFWKFwOyzKb", "uri": "/contracts/aFWKFwOyzKb#true-up", "label": "Interconnection Agreement", "score": 26.8124580383, "published": true}, {"hash": "dL3SSzcbgNS", "uri": "/contracts/dL3SSzcbgNS#true-up", "label": "Interconnection Agreement", "score": 21.0, "published": true}, {"hash": "aMdenQCyrlx", "uri": "/contracts/aMdenQCyrlx#true-up", "label": "Interconnection Agreement", "score": 21.0, "published": true}], "hash": "ee3090f8f1c7b455f95aac5eb02c7fd0", "id": 8}, {"snippet": "Subsequent to the Closing, if at any time during the 90-day period following Closing the actual amount of any pro-rated items that were based upon estimations at Closing, including without limitation, utilities and other operating expenses with respect to the Property for the month in which the Closing occurs, are determined, the parties agree to adjust the proration of utilities and other operating expenses and, if necessary, to refund or repay such sums as shall be necessary to effect such adjustment. For clarification, this Section 8(g) shall not apply to Taxes, Rents or RUBS which shall be pro-rated and paid under Sections 8(a), 8(b) and 8(f) respectively.", "size": 17, "snippet_links": [{"key": "subsequent-to-the-closing", "type": "clause", "offset": [0, 25]}, {"key": "at-any-time", "type": "clause", "offset": [30, 41]}, {"key": "day-period", "type": "definition", "offset": [56, 66]}, {"key": "following-closing", "type": "clause", "offset": [67, 84]}, {"key": "actual-amount", "type": "definition", "offset": [89, 102]}, {"key": "at-closing", "type": "clause", "offset": [159, 169]}, {"key": "including-without-limitation", "type": "clause", "offset": [171, 199]}, {"key": "other-operating-expenses", "type": "definition", "offset": [215, 239]}, {"key": "with-respect-to", "type": "clause", "offset": [240, 255]}, {"key": "the-property", "type": "clause", "offset": [256, 268]}, {"key": "agree-to", "type": "clause", "offset": [340, 348]}, {"key": "proration-of-utilities", "type": "clause", "offset": [360, 382]}, {"key": "expenses-and", "type": "clause", "offset": [403, 415]}, {"key": "for-clarification", "type": "clause", "offset": [509, 526]}], "samples": [{"hash": "kWA0uabmoPu", "uri": "/contracts/kWA0uabmoPu#true-up", "label": "Purchase and Sale Agreement (Resource Real Estate Investors 7, L.P.)", "score": 25.3709793091, "published": true}, {"hash": "8DPaN69KaCZ", "uri": "/contracts/8DPaN69KaCZ#true-up", "label": "Purchase and Sale Agreement (Resource Real Estate Investors 6 LP)", "score": 25.3709793091, "published": true}, {"hash": "dKIsWpEFD58", "uri": "/contracts/dKIsWpEFD58#true-up", "label": "Purchase and Sale Agreement (Resource Real Estate Investors 7, L.P.)", "score": 25.2395610809, "published": true}], "hash": "bb1610777abb30d821d0e496c69d4a17", "id": 7}, {"snippet": "As consideration for Masterworks Gallery sourcing the Painting and committing to finance the acquisition of the Painting, Masterworks Gallery will be entitled to receive a true-up amount upon the closing of the offering equal to 10% of the purchase price of the Painting. The true-up payment will be paid in installments upon each closing of the Offering in cash and or a combination of cash and Class A shares of the Company (valued at $20 per share for such purposes). Each payment that occurs in connection with a closing of the Offering shall be prorated between the true-up and the advance based on the relative size of each obligation. Under no circumstances will any portion of the true-up remain as an outstanding obligation of the Company following the final closing of the Offering and the application of the use of proceeds therefrom.", "size": 42, "snippet_links": [{"key": "the-acquisition", "type": "clause", "offset": [89, 104]}, {"key": "to-receive", "type": "definition", "offset": [159, 169]}, {"key": "closing-of-the-offering", "type": "definition", "offset": [196, 219]}, {"key": "equal-to", "type": "definition", "offset": [220, 228]}, {"key": "price-of-the", "type": "clause", "offset": [249, 261]}, {"key": "each-closing", "type": "clause", "offset": [326, 338]}, {"key": "shares-of-the-company", "type": "definition", "offset": [404, 425]}, {"key": "in-connection-with", "type": "clause", "offset": [496, 514]}, {"key": "a-closing", "type": "definition", "offset": [515, 524]}, {"key": "the-advance", "type": "clause", "offset": [583, 594]}, {"key": "based-on", "type": "definition", "offset": [595, 603]}, {"key": "no-circumstances", "type": "clause", "offset": [648, 664]}, {"key": "obligation-of-the-company", "type": "clause", "offset": [722, 747]}, {"key": "the-final-closing", "type": "clause", "offset": [758, 775]}, {"key": "application-of-the", "type": "clause", "offset": [800, 818]}, {"key": "use-of-proceeds", "type": "definition", "offset": [819, 834]}], "samples": [{"hash": "lRu9MZvY78p", "uri": "/contracts/lRu9MZvY78p#true-up", "label": "Intercompany Agreement (Masterworks 026, LLC)", "score": 29.6447639465, "published": true}, {"hash": "6rKHbxPT639", "uri": "/contracts/6rKHbxPT639#true-up", "label": "Intercompany Agreement (Masterworks 025, LLC)", "score": 29.590007782, "published": true}, {"hash": "5Tm42AEq8Wt", "uri": "/contracts/5Tm42AEq8Wt#true-up", "label": "Intercompany Agreement (Masterworks 024, LLC)", "score": 29.590007782, "published": true}], "hash": "c5f93cdc2826211bcd4b78c33ff206b0", "id": 3}, {"snippet": "Within [***] days after the end of each Calendar Quarter during which either Party incurred Registration Program Costs under the Registration Program Plans for HCM1 Products or HCM2 Products, each Party shall submit to the other Party a reasonably detailed report setting forth the actual Registration Program Costs under the Registration Program Plan for HCM1 Products or HCM2 Products incurred by such Party in such Calendar Quarter, and, within [***] days after both Parties have submitted such reports, the Parties shall determine which Party owes a payment to the other such that each Party will bear its * Confidential Information, indicated by [***], has been omitted from this filing and filed separately with the Securities and Exchange Commission share of the total Registration Program Costs incurred. If the amount paid by Sanofi pursuant to Section 9.5(a) above for such Calendar Quarter is less than the amount owed to MyoKardia pursuant to the preceding sentence, then Sanofi shall pay the deficit to MyoKardia within thirty (30) days after the Parties\u2019 determination of the amount owed. If instead the amount paid by Sanofi pursuant to Section 9.5(a) above for such Calendar Quarter is more than the amount owed MyoKardia for such Calendar Quarter, then the excess shall be credited towards Sanofi\u2019s next advance payment for Registration Program Costs (except where such Calendar Quarter is the final Calendar Quarter in which MyoKardia will incur Registration Program Costs, in which case the excess shall be refunded by MyoKardia to Sanofi within thirty (30) days after the determination of the amount owed and thereafter MyoKardia shall reimburse Sanofi for its share of any future Registration Program Costs incurred by Sanofi). In addition, in the event that the foregoing aggregate credit against Sanofi\u2019s next advance payment exceeds the next advance payment, then Sanofi may request a refund of the difference between such amounts.", "size": 10, "snippet_links": [{"key": "days-after", "type": "definition", "offset": [13, 23]}, {"key": "either-party", "type": "clause", "offset": [70, 82]}, {"key": "program-costs", "type": "clause", "offset": [105, 118]}, {"key": "the-registration", "type": "clause", "offset": [125, 141]}, {"key": "plans-for", "type": "clause", "offset": [150, 159]}, {"key": "submit-to", "type": "clause", "offset": [209, 218]}, {"key": "party-a", "type": "clause", "offset": [229, 236]}, {"key": "detailed-report", "type": "clause", "offset": [248, 263]}, {"key": "such-party", "type": "clause", "offset": [399, 409]}, {"key": "both-parties", "type": "clause", "offset": [465, 477]}, {"key": "the-parties-shall", "type": "clause", "offset": [507, 524]}, {"key": "payment-to-the", "type": "clause", "offset": [554, 568]}, {"key": "each-party-will", "type": "clause", "offset": [585, 600]}, {"key": "confidential-information", "type": "definition", "offset": [612, 636]}, {"key": "commission-share", "type": "definition", "offset": [746, 762]}, {"key": "the-total", "type": "clause", "offset": [766, 775]}, {"key": "costs-incurred", "type": "clause", "offset": [797, 811]}, {"key": "amount-paid", "type": "clause", "offset": [820, 831]}, {"key": "by-sanofi", "type": "clause", "offset": [832, 841]}, {"key": "pursuant-to-section", "type": "clause", "offset": [842, 861]}, {"key": "amount-owed", "type": "clause", "offset": [918, 929]}, {"key": "pursuant-to-the", "type": "definition", "offset": [943, 958]}, {"key": "within-thirty", "type": "clause", "offset": [1026, 1039]}, {"key": "determination-of-the-amount", "type": "clause", "offset": [1069, 1096]}, {"key": "the-excess", "type": "clause", "offset": [1270, 1280]}, {"key": "payment-for", "type": "clause", "offset": [1329, 1340]}, {"key": "final-calendar-quarter", "type": "definition", "offset": [1411, 1433]}, {"key": "the-determination-of", "type": "definition", "offset": [1588, 1608]}, {"key": "future-registration", "type": "clause", "offset": [1694, 1713]}, {"key": "in-addition", "type": "clause", "offset": [1749, 1760]}, {"key": "in-the-event", "type": "clause", "offset": [1762, 1774]}, {"key": "the-foregoing", "type": "definition", "offset": [1780, 1793]}, {"key": "aggregate-credit", "type": "definition", "offset": [1794, 1810]}], "samples": [{"hash": "cz4fFw8Ag6k", "uri": "/contracts/cz4fFw8Ag6k#true-up", "label": "License and Collaboration Agreement (MyoKardia Inc)", "score": 26.8179321289, "published": true}, {"hash": "hU09cHdETJl", "uri": "/contracts/hU09cHdETJl#true-up", "label": "License and Collaboration Agreement (MyoKardia Inc)", "score": 26.7385349274, "published": true}], "hash": "a2bf75ee7f3422e371477a9f1c62a680", "id": 9}, {"snippet": "On the date that is twenty (20) Trading Days (a \u201cTrue-Up Date\u201d) from each date that the Redemption Conversion Shares delivered by Borrower to Lender become Free Trading, there shall be a true-up where Borrower shall deliver to Lender additional Redemption Conversion Shares (\u201cTrue-Up Shares\u201d) if the Redemption Conversion Price as of the True-Up Date is less than the Redemption Conversion Price used in the applicable Redemption Notice. In such event, Borrower shall deliver to Lender within three (3) Trading Days of the True-Up Date (the \u201cTrue-Up Share Delivery Date\u201d) a number of True-Up Shares equal to the difference between the number of Redemption Conversion Shares that would have been delivered to Lender on the True-Up Date based on the Redemption Conversion Price as of the True-Up Date and the number of Redemption Conversion Shares originally delivered to Lender pursuant to the applicable Redemption Notice. For the avoidance of doubt, if the Redemption Conversion Price as of the True-Up Date is higher than the Redemption Conversion Price set forth in the applicable Redemption Notice, then Borrower shall have no obligation to deliver True-Up Shares to Lender, nor shall Lender have any obligation to return any excess Redemption Conversion Shares to Borrower under any circumstance. For the convenience of Borrower only, Lender may, in its sole discretion, deliver to Borrower a notice (pursuant to a form of notice substantially in the form attached hereto as Exhibit C) informing Borrower of the number of True-Up Shares it is obligated to deliver to Lender as of any given True-Up Date, provided that if Lender does not deliver any such notice, Borrower shall not be relieved of its obligation to deliver True-Up Shares pursuant to this Section 11. Notwithstanding the foregoing, if Borrower fails to deliver any required True-Up Shares on or before any applicable True-Up Share Delivery Date, then in such event the Outstanding Balance of this Note will automatically increase by a sum equal to the number of True-Up Shares deliverable as of the applicable True-Up Date multiplied by the Market Price for the Common Stock as of the applicable True-Up Date (under Lender\u2019s and Borrower\u2019s expectations that any such increase will tack back to the Purchase Price Date for purposes of determining the holding period under Rule 144).", "size": 25, "snippet_links": [{"key": "trading-days", "type": "definition", "offset": [32, 44]}, {"key": "up-date", "type": "definition", "offset": [54, 61]}, {"key": "redemption-conversion-shares", "type": "definition", "offset": [88, 116]}, {"key": "by-borrower", "type": "clause", "offset": [127, 138]}, {"key": "free-trading", "type": "definition", "offset": [156, 168]}, {"key": "borrower-shall", "type": "clause", "offset": [201, 215]}, {"key": "deliver-to-lender", "type": "clause", "offset": [216, 233]}, {"key": "up-shares", "type": "definition", "offset": [281, 290]}, {"key": "redemption-conversion-price", "type": "definition", "offset": [300, 327]}, {"key": "the-applicable", "type": "clause", "offset": [404, 418]}, {"key": "redemption-notice", "type": "definition", "offset": [419, 436]}, {"key": "share-delivery-date", "type": "clause", "offset": [550, 569]}, {"key": "number-of", "type": "definition", "offset": [574, 583]}, {"key": "equal-to", "type": "definition", "offset": [599, 607]}, {"key": "based-on", "type": "definition", "offset": [735, 743]}, {"key": "pursuant-to-the", "type": "definition", "offset": [877, 892]}, {"key": "for-the-avoidance-of-doubt", "type": "clause", "offset": [923, 949]}, {"key": "obligation-to-deliver", "type": "clause", "offset": [1131, 1152]}, {"key": "obligation-to-return", "type": "clause", "offset": [1205, 1225]}, {"key": "any-excess", "type": "definition", "offset": [1226, 1236]}, {"key": "to-borrower", "type": "definition", "offset": [1266, 1277]}, {"key": "lender-may", "type": "definition", "offset": [1340, 1350]}, {"key": "sole-discretion", "type": "clause", "offset": [1359, 1374]}, {"key": "a-notice", "type": "clause", "offset": [1396, 1404]}, {"key": "pursuant-to-a", "type": "definition", "offset": [1406, 1419]}, {"key": "form-of-notice", "type": "definition", "offset": [1420, 1434]}, {"key": "exhibit-c", "type": "clause", "offset": [1480, 1489]}, {"key": "provided-that", "type": "clause", "offset": [1609, 1622]}, {"key": "section-11", "type": "clause", "offset": [1759, 1769]}, {"key": "notwithstanding-the-foregoing", "type": "clause", "offset": [1771, 1800]}, {"key": "if-borrower", "type": "clause", "offset": [1802, 1813]}, {"key": "fails-to-deliver", "type": "clause", "offset": [1814, 1830]}, {"key": "outstanding-balance", "type": "clause", "offset": [1939, 1958]}, {"key": "this-note", "type": "clause", "offset": [1962, 1971]}, {"key": "the-market-price", "type": "clause", "offset": [2107, 2123]}, {"key": "the-common-stock", "type": "clause", "offset": [2128, 2144]}, {"key": "purchase-price-date", "type": "definition", "offset": [2268, 2287]}, {"key": "for-purposes-of", "type": "clause", "offset": [2288, 2303]}, {"key": "holding-period", "type": "definition", "offset": [2320, 2334]}, {"key": "rule-144", "type": "clause", "offset": [2341, 2349]}], "samples": [{"hash": "udL0qKoH11", "uri": "/contracts/udL0qKoH11#true-up", "label": "Securities Purchase Agreement (Growlife, Inc.)", "score": 30.5742645264, "published": true}, {"hash": "9j3qGb4Ep9c", "uri": "/contracts/9j3qGb4Ep9c#true-up", "label": "Securities Purchase Agreement (Growlife, Inc.)", "score": 29.2354545593, "published": true}, {"hash": "fpNNSDqHNqU", "uri": "/contracts/fpNNSDqHNqU#true-up", "label": "Securities Purchase Agreement (Growlife, Inc.)", "score": 28.6249141693, "published": true}], "hash": "7da9e964a696e7527592c479555e9de2", "id": 6}, {"snippet": "As consideration for Masterworks Gallery sourcing the Painting and committing to finance the acquisition of the Painting, Masterworks Gallery will be entitled to receive a true-up amount from the segregated portfolio company of Masterworks Cayman acquiring the Painting upon the closing of the Offering equal to approximately 11% of the purchase price of the Painting. The true-up will be deemed to be earned upon the acquisition of the Painting by the segregated portfolio of Masterworks Cayman SPC that is wholly owned by the Company, but payment will be paid in installments upon each closing of the Offering in cash and or a combination of cash and Class A shares of the Company (valued at $20 per share for such purposes). Unless the Parties otherwise agree to a different allocation, each payment that occurs in connection with a closing of the Offering shall be prorated between the true-up and the advance based on the relative size of each obligation. Under no circumstances will any portion of the true-up remain as an outstanding obligation of the Company following the final closing of the Offering and the application of the use of proceeds therefrom.", "size": 104, "snippet_links": [{"key": "the-acquisition", "type": "clause", "offset": [89, 104]}, {"key": "to-receive", "type": "definition", "offset": [159, 169]}, {"key": "segregated-portfolio-company", "type": "clause", "offset": [196, 224]}, {"key": "closing-of-the-offering", "type": "definition", "offset": [279, 302]}, {"key": "equal-to", "type": "definition", "offset": [303, 311]}, {"key": "price-of-the", "type": "clause", "offset": [346, 358]}, {"key": "by-the-company", "type": "clause", "offset": [521, 535]}, {"key": "each-closing", "type": "clause", "offset": [583, 595]}, {"key": "shares-of-the-company", "type": "definition", "offset": [661, 682]}, {"key": "the-parties", "type": "definition", "offset": [735, 746]}, {"key": "agree-to", "type": "clause", "offset": [757, 765]}, {"key": "in-connection-with", "type": "clause", "offset": [815, 833]}, {"key": "a-closing", "type": "definition", "offset": [834, 843]}, {"key": "the-advance", "type": "clause", "offset": [902, 913]}, {"key": "based-on", "type": "definition", "offset": [914, 922]}, {"key": "no-circumstances", "type": "clause", "offset": [967, 983]}, {"key": "obligation-of-the-company", "type": "clause", "offset": [1041, 1066]}, {"key": "the-final-closing", "type": "clause", "offset": [1077, 1094]}, {"key": "application-of-the", "type": "clause", "offset": [1119, 1137]}, {"key": "use-of-proceeds", "type": "definition", "offset": [1138, 1153]}], "samples": [{"hash": "1XYRH0HZHGT", "uri": "/contracts/1XYRH0HZHGT#true-up", "label": "Intercompany Agreement (Masterworks 139, LLC)", "score": 31.5147151947, "published": true}, {"hash": "3uzuNl8uC23", "uri": "/contracts/3uzuNl8uC23#true-up", "label": "Intercompany Agreement (Masterworks 140, LLC)", "score": 31.5119781494, "published": true}, {"hash": "dCHIpiGYZ2T", "uri": "/contracts/dCHIpiGYZ2T#true-up", "label": "Intercompany Agreement (Masterworks 131, LLC)", "score": 31.4928131104, "published": true}], "hash": "5fc48786e1c9f799a600e450e4f24dcf", "id": 2}, {"snippet": "(i) Following the end of each Fiscal Quarter, as soon as the Company shall have determined the Net Revenues for such Fiscal Quarter and for each other Fiscal Quarter in the Fiscal Year in which the then most recently ended Fiscal Quarter occurred (the \u201cYear-to-Date Net Revenues\u201d) and in any event no later than forty-five (45) days after the end of such Fiscal Quarter (unless such Fiscal Quarter is the last Fiscal Quarter of a Fiscal Year in which case no later than ninety (90) days after the end of such Fiscal Quarter), the Company shall present Purchaser a certificate, in reasonable detail with supporting calculations and information, detailing the Year-to-Date Net Revenues (the \u201cTrue-Up Statement\u201d). The True-Up Statement shall include a calculation of (A) the year-to-date Assigned Interests as of the end of such quarterly period, which shall be the product of the Applicable Percentage multiplied by the Year-to-Date Net Revenues, with a separate calculation taking into account any mandatory minimum payments as provided in the definition of Assigned Interests (\u201cYear-to-Date Assigned Interests\u201d) and (B) the difference between (X) the amount Purchaser has received on or prior to the last day of the most recently ended Fiscal Quarter in payments from the Company under Section 2.02(a) or this Section 5.08 in respect of the Fiscal Year for which Year-to-Date Net Revenues is calculated less (Y) the Year-to-Date Assigned Interests (the \u201cTrue-Up Amount\u201d).\n(ii) If the True-Up Amount calculated pursuant to clause (i) above is positive, Purchaser shall pay such amount to the Company within five (5) days of receipt by Purchaser of the True-Up Statement.\n(iii) If the True-Up Amount calculated pursuant to clause (i) above is negative, the Company shall pay the absolute value of such amount to Purchaser within five (5) days of the receipt by Purchaser of the True-Up Statement.", "size": 10, "snippet_links": [{"key": "following-the", "type": "definition", "offset": [4, 17]}, {"key": "fiscal-quarter", "type": "definition", "offset": [30, 44]}, {"key": "the-company-shall", "type": "clause", "offset": [57, 74]}, {"key": "net-revenues", "type": "definition", "offset": [95, 107]}, {"key": "fiscal-year", "type": "clause", "offset": [173, 184]}, {"key": "most-recently-ended", "type": "definition", "offset": [203, 222]}, {"key": "days-after", "type": "definition", "offset": [328, 338]}, {"key": "case-no", "type": "clause", "offset": [451, 458]}, {"key": "purchaser-a", "type": "definition", "offset": [552, 563]}, {"key": "supporting-calculations", "type": "definition", "offset": [603, 626]}, {"key": "and-information", "type": "clause", "offset": [627, 642]}, {"key": "the-year", "type": "definition", "offset": [654, 662]}, {"key": "calculation-of", "type": "definition", "offset": [749, 763]}, {"key": "assigned-interests", "type": "definition", "offset": [785, 803]}, {"key": "quarterly-period", "type": "clause", "offset": [826, 842]}, {"key": "the-product", "type": "clause", "offset": [859, 870]}, {"key": "applicable-percentage", "type": "clause", "offset": [878, 899]}, {"key": "a-separate", "type": "definition", "offset": [950, 960]}, {"key": "minimum-payments", "type": "clause", "offset": [1007, 1023]}, {"key": "the-definition-of", "type": "clause", "offset": [1039, 1056]}, {"key": "received-on", "type": "clause", "offset": [1172, 1183]}, {"key": "prior-to-the", "type": "clause", "offset": [1187, 1199]}, {"key": "day-of", "type": "clause", "offset": [1205, 1211]}, {"key": "in-payments", "type": "clause", "offset": [1251, 1262]}, {"key": "from-the-company", "type": "clause", "offset": [1263, 1279]}, {"key": "in-respect-of", "type": "definition", "offset": [1323, 1336]}, {"key": "pursuant-to-clause", "type": "clause", "offset": [1510, 1528]}, {"key": "to-the-company", "type": "definition", "offset": [1584, 1598]}, {"key": "receipt-by-purchaser", "type": "clause", "offset": [1623, 1643]}, {"key": "to-purchaser", "type": "clause", "offset": [1807, 1819]}], "samples": [{"hash": "cmB6muwFbpf", "uri": "/contracts/cmB6muwFbpf#true-up", "label": "Revenue Interests Purchase Agreement", "score": 31.3408622742, "published": true}, {"hash": "gmTjowXTqTm", "uri": "/contracts/gmTjowXTqTm#true-up", "label": "Revenue Interests Purchase Agreement (AxoGen, Inc.)", "score": 24.5756340027, "published": true}], "hash": "32e06c10ff38316390ddca4a0592e0cd", "id": 10}], "next_curs": "ClASSmoVc35sYXdpbnNpZGVyY29udHJhY3RzciwLEhZDbGF1c2VTbmlwcGV0R3JvdXBfdjU2IhB0cnVlLXVwIzAwMDAwMDBhDKIBAmVuGAAgAA==", "clause": {"title": "True-Up", "children": [["", ""], ["payment", "Payment"], ["construction-phasing", "Construction phasing"], ["water-allotments", "Water Allotments"], ["expansions-and-capital-cost", "Expansions and Capital Cost"]], "parents": [["parallel-operation", "PARALLEL OPERATION"], ["miscellaneous", "Miscellaneous"], ["apportionments", "Apportionments"], ["fees-and-charges", "Fees and Charges"], ["general", "General"]], "size": 848, "id": "true-up", "related": [["true-up-adjustments", "True-Up Adjustments", "<strong>True-Up</strong> Adjustments"], ["payment-and-year-end-adjustment", "Payment and Year-End Adjustment", "Payment and Year-End Adjustment"], ["tax-invoices", "Tax invoices", "Tax invoices"], ["crediting-payments", "Crediting Payments", "Crediting Payments"], ["cost-share", "Cost Share", "Cost Share"]], "related_snippets": [], "updated": "2026-05-06T04:38:42+00:00"}, "json": true, "cursor": ""}}