Examples of Conditional Payment in a sentence
Return of all or a portion of the Conditional Payment shall be made reasonably soon after it is determined the extent to which the performance goal or target was not achieved.
In the event that the Performance Hurdle Rate has been met, the Conditional Payment shall be payable by the Company to the Underwriters by wire transfer of immediately available funds to a bank account designated by Xxxxxxx Xxxxx no later than the date which is five (5) business days after the date of delivery of the computations to the Underwriters.
This Agreement shall become effective on the date hereof and shall continue in operation, until the earlier of (a) the reimbursement in full of the Manager Offering Payments and (b) the end of the Conditional Payment Period.
Such Conditional Payment shall not exceed, on a per share basis, 2% of the initial public offering price per share of Common Stock set forth in Schedule C.
If the Performance Hurdle Rate is not met or exceeded for a full four calendar quarter period during the Conditional Payment Period, the Company’s obligation to make the Conditional Payment shall terminate.