Shortfall Payment definition

Shortfall Payment has the meaning set forth in Section 7(b).

Shortfall Payment has the meaning set forth in Section 2.2(c).

Shortfall Payment has the meaning specified in Section 3.7.

Examples of Shortfall Payment in a sentence

• Payment of any fee or Shortfall Payment pursuant to this Section 3.8 shall be made by wire transfer of immediately available funds to an account designated in writing by the Operator.

• The Parties acknowledge and agree that there shall be no carry-over of deficiency volumes with respect to the Minimum Throughput Commitment and the payment by the Company of the Shortfall Payment shall relieve the Company of any obligation to meet such Minimum Throughput Commitment for the relevant Contract Quarter.

• The Letter of Credit shall expire no earlier than the date 91 days after the later of the last Specified Shortfall Payment payable under this Section 17.02 and the last "Specified Shortfall Payment" payable under Section 17.02 of any Related Participation Agreement.

• For informational purposes only, attached as Exhibit 2 hereto is a sample calculation demonstrating the Shortfall Payment and its application.

• If the Rental Shortfall Payment is not paid on or before the Rental Shortfall Due Date, interest on the Rental Shortfall Payment will accrue at the Default Rate beginning on the day after the Rental Shortfall Due Date and continuing until the Rental Shortfall Payment is paid in full with interest.

More Definitions of Shortfall Payment

Shortfall Payment has the meaning set forth in Exhibit B.

Shortfall Payment means an amount determined by taking the product of (i) the Shortfall multiplied by

Shortfall Payment shall have the meaning provided in Section 2.8(j).

Shortfall Payment means, without duplication, (i) any payments or allocations of the Issuer or Canadian Co-Issuer, as applicable, that are applied to fund a shortfall of the amount payable or allocable pursuant to the Priority of Payments for a Weekly Allocation Date due to a lack of Canadian Collections of the Canadian Co-Issuer or U.S. Collections of the Issuer, as applicable, (ii) any payments or allocations of the Issuer on account of U.S. Dollar-denominated expenses of the Canadian Co-Issuer that are applied to fund a shortfall pursuant to the Priority of Payments for a Currency Conversion Opt-Out Weekly Allocation Date due to a lack of U.S. Dollar-denominated Canadian Collections of the Canadian Co-Issuer, (iii) any payments from the funds of the Issuer or Canadian Co-Issuer, as applicable, that are made to fund a shortfall on account of the other Co-Issuer on a Quarterly Payment Date due to a lack of funds in any Indenture Trust Account of a Co-Issuer and (iv) any payments or allocations of the Issuer or Canadian Co-Issuer, as applicable, that are applied to fund a shortfall on account of the other Co-Issuer for any other purpose not set forth in clauses (i)-(iii). Shortfall Payments paid (except for Canadian Direct Payment Amounts paid to the Canadian Manager or a third party, in each case, pursuant to the Priority of Payments or pursuant to priority (v) or (xix) of the Priority of Payments) or allocated on a Currency Conversion Opt-Out Weekly Allocation Date may initially be denominated in a different currency than the currency of such payment or obligation.

Shortfall Payment has the meaning specified in Section 8.4.

Shortfall Payment means either, at Parent’s election, (i) a number of TopCo Common Shares equal to the Shortfall Amount divided by the Settlement Calculation VWAP, or (ii) subject to Section 3.1(e)(2), an amount in cash equal to the Shortfall Amount. Parent’s election under the preceding sentence shall be made at any time prior to the End Date by notice in writing to the Rights Agent and the Conflicts Committee. In the absence of any written election, Parent shall be deemed to have elected to make the Shortfall Payment in TopCo Shares.

Shortfall Payment means payment by the Town to UIA in satisfaction of any obligation that may arise pursuant to Section 3.1, Section 3.2, Section 3.3, or Section 3.6.