Available Discount definition
Available Discount means, for each Delivery Month of a Reset Period, the amount, expressed in cents per MMBtu (rounded down to the nearest one-half cent), determined by the Calculation Agent pursuant to the Re-Pricing Agreement.
Available Discount means, for each Reset Period, the amount, expressed in cents per MWh (rounded down to the nearest one-half cent), determined by the Calculation Agent pursuant to the Re-Pricing Agreement for such Reset Period. The Available Discount shall equal the sum of the Monthly Discount and any anticipated Annual Refunds for the applicable Reset Period.
Available Discount means any reduction in the usual and customary price offered for a 30-day supply of a prescription drug to individuals in Minnesota regardless of their health insurance coverage.
Examples of Available Discount in a sentence
For each Reset Period, Issuer shall provide to Purchaser, at least ten (10) days prior to the Remarketing Election Deadline, written notice (a “Reset Period Notice”) setting forth (i) the duration of such Reset Period, (ii) the estimated Available Discount Percentage for such Reset Period, and (iii) the applicable Remarketing Election Deadline.
The Parties acknowledge and agree that the final Available Discount for any Reset Period following the Initial Reset Period will be determined on the applicable Re-Pricing Date, and that such Available Discount may differ from the estimate or estimates of such Available Discount provided to Gas Purchaser and the other Gas Purchasers prior to the applicable Remarketing Election Deadline.
TEAC shall provide notice setting forth the duration of the Reset Period and the estimated Available Discount for such Reset Period no later than at least ten (10) days prior to the applicable Remarketing Election Deadline for such Reset Period.
The Parties acknowledge that the determination of the Available Discount for a Reset Period under the Re-Pricing Agreement will be through an iterative, on-going process and that TEAC may provide preliminary communications concerning the estimated Available Discount for a Reset Period.
In such case MMGA shall provide such new estimated Available Discount to Gas Purchaser promptly in writing, and the Remarketing Election Deadline shall be extended to the third (3rd) Business Day following the date of such notice.
More Definitions of Available Discount
Available Discount means, for each Delivery Month of a Reset Period, the amount, expressed in cents per MMBtu (rounded down to the nearest one-half cent), determined by the Calculation Agent pursuant to the Re-Pricing Agreement. The Available Discount shall equal the sum of the Monthly Discount and any anticipated Annual Refunds for the applicable Reset Period, and shall be the discount available to Gas Purchaser before application of the Project Administration Fee. During the Initial Reset Period, the Available Discount shall be no less than 35 cents per MMBtu.
Available Discount means, for each Reset Period, the amount, expressed in cents per MMBtu (rounded down to the nearest one-half cent), determined by the Calculation Agent pursuant to the Re-Pricing Agreement for such Reset Period. The Available Discount shall equal the sum of the Monthly Discount and any anticipated Annual Refunds for the applicable Reset Period.
Available Discount means, for each Month of a Reset Period, eighty percent (80%) of the discount amount expressed in cents per MMBtu (rounded down to the nearest one-half cent) determined in accordance with the procedures specified in the FGU
Available Discount means, for each Month of a Reset Period, [eighty percent (80%)] of the discount amount expressed in cents per MMBtu (rounded down to the nearest one-half cent) determined in accordance with the procedures specified in the FGU
Available Discount has the meaning set forth in the Re-Pricing Agreement. “Bankruptcy” means, with respect to any Person, if (i) an involuntary case or other proceeding shall be commenced against such Person seeking liquidation, reorganization or other relief with respect to it or its debts under any applicable federal or state bankruptcy, insolvency, fraudulent transfer, reorganization, moratorium or similar law now or hereafter in effect or seeking the appointment of a custodian, receiver, liquidator, assignee, trustee, sequestrator or similar official of it or any substantial part of its property, and such involuntary case or other proceeding shall remain undismissed and unstayed, or an order or decree approving or ordering any of the foregoing shall be entered and continued unstayed and in effect, in any such event, for a period of 60 days; or (ii) such Person shall commence a voluntary case or proceeding under any applicable federal or state bankruptcy, insolvency, fraudulent transfer, reorganization, moratorium or other similar law or any other case or proceeding to be adjudicated a bankrupt or insolvent, or shall consent to the entry of a decree or order for relief in an involuntary case or proceeding under any applicable federal or state bankruptcy, insolvency, reorganization or other similar law or to the commencement of any bankruptcy or insolvency case or proceeding against it, or if it shall file a petition or answer or consent seeking reorganization or relief under any applicable federal or state law, or consent to the filing of such petition or to the appointment of or taking possession by a custodian, receiver, liquidator, assignee, trustee, sequestrator or similar official of such Person or any substantial part of its property, or shall make an assignment for the benefit of creditors, or admit in writing its inability to pay its debts generally as they become due, or shall take corporate action in furtherance of any such action. The foregoing definition of “Bankruptcy” is intended to replace and shall supersede and replace the definition of “Bankruptcy” set forth in Sections 18- 101(1) and 18-304 of the Act.
Available Discount means (a) with regards to the first Qualified Financing, the Discount through the end of the calendar month in which UPS makes the investment in the Qualified Financing (including any Discount accrued under the Prior Agreement through the Effective Date), and (b) with regards to any subsequent Eligible Qualified Financing, the Discount through the end of the calendar month in which UPS makes the investment in the Eligible Qualified Financing (including any Discount accrued under the Prior Agreement through the Effective Date), less the aggregate Discounts applied to earlier Eligible Qualified Financings to ensure there is no double- counting (the “Deployed Discount”). If (A) UPS fails to invest a minimum of $1,000,000 in a Qualified Financing or (B) the Company, in accordance with the Financing Documents, validly rejects UPS’s offer to invest in an Eligible Qualified Financing, then the Discount for the term of this Agreement that has not been applied to an earlier Eligible Qualified Financing will be forfeited (the “Forfeited Discount”). A “Qualified Financing” means any bona fide equity financing of the Company with aggregate gross proceeds to the Company of at least $5,000,000 occurring during the term of this Agreement. For purposes of determining the amount of accrued Discount, the Discount will accrue at the rate of (6%). As of the Effective Date, UPS has accrued a Discount equal to $350,221, of which (x) $148,883 was paid by the Company to UPS in the form of 123,989 shares of the Company’s Series A-2 Preferred Stock and (y) $201,338 will be paid by the Company to UPS in the form of 14,924 shares of the Company’s Series B Preferred Stock on the Effective Date. In no event will the cumulative Available Discount earned by UPS from the Effective Date until the Termination Date exceed $7,649,779.
Available Discount means, for each Month of a Reset Period, the amount, expressed in cents per MMBtu (rounded down to the nearest one-half cent) or as a percentage per MWh, determined by the Calculation Agent pursuant to the Re-Pricing Agreement. The Available Discount shall equal the sum of the Monthly Discount and any anticipated Annual Refunds for the applicable Reset Period, and shall be the discount available to Purchaser before application of the Supply Administration Fee. During the Initial Discount Period, the Available Discount shall be no less than [ ] cents per MMBtu.