Earn-Out Payments definition
Examples of Earn-Out Payments in a sentence
For the avoidance of doubt the parties acknowledge that any Earn-Out Payments earned and received by the Contributors shall be included in calculation of the Total Consideration.
Such payment shall be made by Acquiror as soon as reasonably practicable following the Seller Representative’s delivery of the final determination of the amount of the Earn-Out Payments, which such payment shall be made no later than June 15, 2024.
In no event shall the Buyer or any of its Affiliates be required to take any action (or omit to take any action) or to expend any funds or incur any Liabilities or expenses in connection with increasing the likelihood of achieving the Earn-Out Payment or Bonus Payments or to otherwise protect, expedite or maximize the Earn-Out Payments or Bonus Payments.
The Parties acknowledge that the Earn-Out Payments are intended to be adjustments to the Purchase Price of the Purchased Shares to reflect the underlying goodwill of the Business, the value of which cannot be accurately determined by the Parties on or before Closing Date.
For the avoidance of doubt, the Vendors’ Delegate shall only invoice the Purchaser for the portion of any Earn-Out Payments or Royalties in dispute after such dispute is settled and the applicable portion of such Earn-Out Payment or Royalty is finally determined and failure to issue the invoice due to any dispute shall not prejudice the Vendors or the Vendors’ Delegate in any manner.