Material Expense definition
Examples of Material Expense in a sentence
The Company shall host weekly calls with the Investors and advisors to the Investors (including the Ad Hoc Counsel) at which the Company’s management will provide updates with regard to the Debtors’ business and any developments, including a discussion of, among other things, any proposed or existing Material Expense Contracts or Material Revenue Contracts.
Notwithstanding the foregoing, SD shall have approval rights as to any Operational Expense in excess of Three Thousand Dollars ($3,000.00) and SD shall have approval rights as to any Source Material Expense in excess of Ten Thousand Dollars ($10,000.00).
In the event that Purchaser fails to obtain any such written consent, the amount of such unconsented Material Expense shall not be included in the EBITDA calculation for purposes of the adjustment provisions contained in Article III of this Agreement.
The Company shall host weekly calls with the Investors, advisors to the Investors (including the Ad Hoc Counsel) and advisors to the Committee at which the Company’s management will provide updates with regard to the Debtors’ business and any developments, including a discussion of, among other things, any proposed or existing Material Expense Contracts or Material Revenue Contracts.