Shortfall Payment Date definition
Examples of Shortfall Payment Date in a sentence
That interest shall be calculated on a daily basis by reference to the Rent Payment Dates on which parts of the shortfall would have been payable if the revised Annual Rent had been agreed or determined on or before that Review Date and the Shortfall Payment Date (or, if the Tenant pays the shortfall earlier than the Shortfall Payment Date, the date of that payment).
If the Adviser believes there is any likelihood that the Fund will draw on the Financial Warranty, it shall provide the Warranty Provider and the Fund with notice of such event at least ten (10) business days before the Shortfall Payment Date or the Early Termination Date, as applicable (or on the date it learns of such shortfall, if shorter) (an “Expected Shortfall Notice”).
That interest shall be calculated on a daily basis by reference to the Rent Payment Dates on which parts of the shortfall would have been payable if the revised Annual Rent had been agreed or determined on or before that Relevant Review Date and the Shortfall Payment Date (or, if the Tenant pays the shortfall earlier than the Shortfall Payment Date, the date of that payment).
The Excess Shortfall Amount shall be paid by each Member by delivering to Parent on or prior to the Shortfall Payment Date a number of shares of Parent Preferred Stock (valued at $12.00 per share) equal in value to such Member’s Membership Percentage of the Excess Shortfall Amount.
If a Shortfall occurs during any quarter in any Contract Year due solely to Smart Sand’s inability to deliver Products set forth in purchase orders submitted by Buyer (“Undelivered Tons”), Smart Sand shall pay to Buyer on or before the Quarterly Shortfall Payment Date an amount equal to $*** multiplied by the Undelivered Tons minus any Prior Excess (the “Smart Sand Payment”) (i.