Shortfall penalty definition
Shortfall penalty means a penalty imposed under any of sections 141A to 141K for taking an incorrect tax position or for doing or failing to do anything specified or described in those sections:
Shortfall penalty means a penalty of 5% of the total Payment Amount due. Any Shortfall event is subject to the Shortfall Penalty. This penalty is leveled on the Borrower and is due immediately.
Shortfall penalty shall have the meaning set forth in Section 1.2 of this Agreement.