Percentage Excess definition

Percentage Excess shall have the meaning set forth in Section 1.5(b)(ii).
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Percentage Excess means, with respect to each Period, the percentage by which the Working Capital Amount exceeds the Working Capital Limit. For example, if the Working Capital Amount for Period 2 is $8,000,000 and the Working Capital Limit for Period 2 is $5,000,000, the Percentage Excess for Period 2 is 60% ($3,000,000/$5,000,000 x 100), and the Preliminary Earnout Amount shall be reduced by 30% (1/2x60%). Therefore, if the Preliminary Earnout Amount for Period 2 is $7,247,150 and the Percentage Excess for Period 2 is 60%, the Preliminary Earnout Amount shall be reduced by 30%, and the Earnout Amount payable by Delta to the Company with respect to Period 1 shall be $5,073,005 (and Delta, in its discretion, may cause Purchaser to pay the Earnout Amount to the Company). The Preliminary Earnout Amounts, after any applicable reductions, shall be referred to herein as the "Earnout Amounts."
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Examples of Percentage Excess in a sentence

  • These calculations include, but are not limited to, determinations of the Last Reported Sale Prices of the Common Stock, the Daily VWAPs, accrued interest payable on the Notes, any Additional Interest on the Notes, the Conversion Rate of the Notes, Buy-In Price, Maximum Percentage, Excess Shares, .

  • Whenever the Applicable Percentage, Excess Funding Capacity or any other term of a Transaction (other than the Pricing Rate, Market Value and outstanding Purchase Price) with respect to an Asset is revised or adjusted in accordance with this Agreement, an amended and restated Confirmation reflecting such revision or adjustment and that is otherwise acceptable to the Parties shall be prepared by Seller and executed by the Parties.

  • Whenever the Applicable Percentage, Excess Financing Capacity or any other term of a Transaction (other than the Pricing Rate, Market Value and outstanding Purchase Price) with respect to an Asset is revised or adjusted in accordance with this Agreement, an amended and restated Confirmation reflecting such revision or adjustment and that is otherwise acceptable to the Parties shall be prepared by Seller and executed by the Parties.

  • These calculations include, but are not limited to, determinations of the Last Reported Sale Prices of the Common Stock, the Daily VWAPs, accrued interest payable on the Notes, any Additional Interest on the Notes, the Conversion Rate of the Notes, Maximum Percentage, Excess Shares, Secured Net Leverage Ratio, Total Net Leverage Ratio and the Applicable Interest Rate.