Initial Shortfall Amount definition
Initial Shortfall Amount is defined in Section 7.D of this Settlement Agreement.
Initial Shortfall Amount means, if the funds necessary to consummate the transactions contemplated by the Stock Purchase Agreement as mutually determined by the Sellers’ Representative and the Company is greater than zero, the lesser of (i) $6,000,000 and (ii) the amount of funds necessary to consummate the transactions contemplated by the Stock Purchase Agreement as mutually determined by the Sellers’ Representative and the Company.
Initial Shortfall Amount has the meaning set forth in Section 2.6(b).
Examples of Initial Shortfall Amount in a sentence
Transfer to the New VEBA the assets in the TAA that represent the value in the TAA, as of the date of transfer to the New VEBA, of the Initial Shortfall Amount and any additional Shortfall Amount payment(s) described in Section 7.D of this Settlement Agreement made to the TAA and the investment returns thereon, net of expenses (but limited to those expenses that could be charged to the TAA under ERISA if the TAA was a plan subject to ERISA), or at GM’s option cash in lieu of some or all of these assets.
The Initial Shortfall Amount represents the Shortfall Amount payable to the TAA on April 1, 2008 as set forth in the Shortfall Amount column of the amortization schedule in Exhibit D to this Settlement Agreement.