Trigger Payment definition

Trigger Payment has the meaning specified in Section 8.2(a) hereof.
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Trigger Payment means an aggregate payment in one (1) lump sum within thirty (30) days following any Trigger Event totaling an amount equal to three times Executive's annual Base Salary in effect at the time of the Trigger Event.
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Trigger Payment shall have the meaning provided in Section 8.16(d).
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Examples of Trigger Payment in a sentence

  • OPTION GRANTOR shall have no obligation to pay the Trigger Payment if OPTION HOLDER is in material breach of any of its representations or warranties, or in material breach of any of its covenants or agreements, contained in this Agreement or in the Merger Agreement.

  • Notwithstanding the foregoing, that the Company’s obligation to make any Trigger Payment shall be reduced by an amount equal to any portion of Principal amount of this Debenture, together with any accrued and unpaid Interest, that, following the applicable Trigger Date, is converted into shares of Common Stock by the Holder pursuant to the terms and conditions set forth in Section (4) prior to such Trigger Payment due date (provided that the Holder is under no obligation to make any such conversions).

  • Notwithstanding the forgoing, the payment of the Trigger Payment (as defined in the Term Loan Agreement) shall not cause any adjustment to the Exercise Ratio.

  • Each Trigger Payment shall be in an amount equal to the sum of (i) $1,000,000 of Principal amount outstanding, or, if less than $1,000,000 of Principal amount is outstanding under this Debenture as at the Trigger Date, the entire Principal amount outstanding (the “Triggered Principal Amount”), plus (ii) the Redemption Premium (as defined below) in respect of such Triggered Principal Amount, and (iii) accrued and unpaid Interest hereunder as of each payment date.

  • Upon payment in full of Allowed Class 4 Claims, Holders of Class 5 Interests shall share in any subsequent Pro Rata Cash Distribution Trigger Payment and/or Transaction Trigger Payment to be made on account of the Plan Note.

  • Commencing on the first day of the month after the last Monthly Trigger Payment was due, the Balance of the Note shall be repaid in equal, fully-amortized monthly installments (each, a “Monthly Balance Payment”) over a period equal to thirty-six (36) months, with each Monthly Balance Payment due on first day of each month.

  • On or before October 6, 2023 (the “ Payment Date”), the Issuer shall pay to the Investor, (i) the initial Trigger Payment in the amount set forth above, and (ii) an additional payment in the amount of $500,000 (of which $467,289.72 shall be applied towards principal and $32,710.28 towards the Redemption Premium of 7%).

  • If Purchaser and Seller agree to a Trigger Payment, such amount shall be paid by Seller to Purchaser concurrently with the Trigger Event , or as soon thereafter as is practicable (but not later than sixty (60) days after the Trigger Event occurred; the date on which the payment occurs being referred to as the "Trigger Payment Date".

  • Upon CyberArts receipt of the Source Code Trigger Payment (as set forth in Exhibit A) such that the total amount of payments made for object code and/or source code version of the Licensed Product equal or exceeds Four Million Dollars ($4,000,000), CyberArts shall cause the Escrow Agent to release a copy of the source of the Licensed Product to WPT (“Source Code Grant”).

  • The General Note Payments shall become due and payable by the Reorganized Debtor to the Trust on or before the fifth business day following: (i) the occurrence of a Transaction Trigger, requiring a Transaction Trigger Payment to be made hereunder; and (ii) the occurrence of a Cash Distribution Trigger, requiring a Cash Distribution Trigger Payment to be made hereunder until the Oasys Plan Trust is terminated pursuant to Article XI of the Trust Agreement.


More Definitions of Trigger Payment

Trigger Payment means the $5,000,000 payment SPI agrees to make to Streeterville on the earlier of the following: (i) within five (5) business days of the closing of the SolarJuice IPO; (ii) within seven (7) calendar days of the date that SolarJuice is listed for trading; or (iii) on or before 31 May 2024;
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Trigger Payment shall have the meaning provided in the Priming Facility Credit Agreement.
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Related to Trigger Payment

  • Trigger Event shall have the meaning specified in Section 14.04(c).

  • Trigger Period means the period commencing 60 days prior to the first public announcement by the Company of any Change of Control (or pending Change of Control) and ending 60 days following consummation of such Change of Control (which Trigger Period will be extended following consummation of a Change of Control for so long as either of the Rating Agencies has publicly announced that it is considering a possible ratings change).

  • Trigger Event Date means a date on which a Trigger Event has occurred as determined by the Calculation Agent.

  • Excess Cash Flow Payment Date means the earlier of (a) the date occurring 90 days after the last day of each fiscal year of the Borrower (commencing with the fiscal year of the Borrower ending December 31, 2018) and (b) the third Business Day following the date on which financial statements with respect to such period are delivered pursuant to Section 5.01(c).

  • Trigger Amount with respect to Extraordinary Trust Expenses for the Trust is $25,000 and the Maximum Reimbursable Amount is $100,000. The Trustee Fee will be paid by the Expense Administrator. Expenses will be reimbursed by the Expense Administrator in accordance with the Expense Administration Agreement.

  • Trigger Price for any Pricing Period shall mean the greater of (i) the Company Designated Minimum Put Share Price, plus $0.075, or (ii) the Company Designated Minimum Put Share Price divided by .91.

  • Guarantor Payment Date means (a) prior to the delivery of a Guarantor Default Notice, the date falling on the 10th day of February, May, August and November of each year or, if such day is not a Business Day, the immediately following Business Day, provided that the fist Guarantor Payment Date will be 10 February 2014; and (b) following the delivery of a Guarantor Default Notice, any day on which any payment is required to be made by the Representative of the Covered Bondholders in accordance with the Post-Enforcement Priority of Payments, the relevant Final Terms and the Intercreditor Agreement.

  • Excess Cash Payment Date means the date occurring 95 days after the last day of each Fiscal Year of Holdings (commencing with the Fiscal Year of Holdings ended December 31, 2010).

  • Cash Dominion Event means either (i) the occurrence and continuance of any Event of Default, or (ii) the failure of the Borrower at any time to maintain Availability of at least twelve and one-half percent (12.5%) of the Loan Cap. For purposes of this Agreement, the occurrence of a Cash Dominion Event shall be deemed continuing (i) so long as such Event of Default has not been waived, and/or (ii) if the Cash Dominion Event arises as a result of the Borrower’s failure to achieve Availability as required hereunder, until Availability has exceeded twelve and one-half percent (12.5%) of the Loan Cap for sixty (60) consecutive Business Days, in which case a Cash Dominion Event shall no longer be deemed to be continuing for purposes of this Agreement; provided that a Cash Dominion Event shall be deemed continuing (even if an Event of Default is no longer continuing and/or Availability exceeds the required amount for sixty (60) consecutive Business Days) at all times after a Cash Dominion Event has occurred and been discontinued on three (3) occasion(s) after the Closing Date. The termination of a Cash Dominion Event as provided herein shall in no way limit, waive or delay the occurrence of a subsequent Cash Dominion Event in the event that the conditions set forth in this definition again arise.

  • Cash Sweep Period means each period commencing on the occurrence of a Cash Sweep Event and continuing until the earlier of (a) the Payment Date next occurring following the related Cash Sweep Event Cure, or (b) until payment in full of all principal and interest on the Loan and all other amounts payable under the Loan Documents.

  • Payment Event of Default means an Event of Default specified in Section 7.1(a).

  • Excess Cash Flow Payment Period means, with respect to any Excess Cash Flow Payment Date, the immediately preceding fiscal year of the Borrower.

  • Payment Event means any of the following:

  • Guarantor Payment as defined in Section 5.11.3.

  • Liquidity Event of Default means the occurrence of either (a) the Acceleration of all of the Equipment Notes or (b) an American Bankruptcy Event.

  • CVR Payment Amount has the meaning set forth in Section 2.4(a).

  • Payment month means, for all programs except EA, the calendar month for which benefits are issued.

  • Minimum Interest Charge has the meaning given in Section 2.2(b).

  • Dominion Period has the meaning given to such term in the Intercreditor Agreement.

  • Required Payment Amount shall have, for any Distribution Date, the meaning specified for such Distribution Date in Section 4.6(a) of the Sale and Servicing Agreement.

  • AHYDO Catch-Up Payment means any payment on any Indebtedness that would be necessary to avoid such Indebtedness being characterized as an “applicable high yield discount obligation” under Section 163(i) of the Code.

  • Cash Dominion Period means (a) each period beginning on a date when Total Excess Availability shall have been less than the greater of (i) 10% of the Line Cap and (ii) $20,000,000, in either case for five consecutive Business Days, and ending on such date as Total Excess Availability shall have been at least equal to the greater of (i) 10% of the Line Cap and (ii) $20,000,000 for a period of 30 consecutive calendar days or (b) upon the occurrence of an Event of Default, the period that such Event of Default shall be continuing.

  • Payment Amount has the meaning specified in Section 6.1.

  • Payment Condition at any time of determination with respect to any Specified Transaction, that the following conditions are all satisfied: (x) (1) 30-Day Specified Excess Availability (divided by Availability as of such time of determination and expressed as a percentage) and (2) the Specified Availability on the date of such Specified Transaction (divided by Availability as of such time of determination and expressed as a percentage), in each case exceed the applicable Availability Percentage (as defined below) and, (y) unless the Fixed Charge Condition (as defined below) is satisfied (to the extent applicable), the Parent Borrower shall be in Pro Forma Compliance with a minimum Consolidated Fixed Charge Coverage Ratio of at least 1.00:1.00 and (z) if reasonably requested by the Administrative Agent, the Borrower Representative shall have delivered to the Administrative Agent (i) a copy of calculations required by preceding clause (y) in reasonable detail and (ii) a calculation of Specified Unrestricted Cash. As used herein, the following terms shall have the following meanings: (i) “Availability Percentage”: shall mean (a) in respect of any Restricted Payment pursuant to Subsection 8.3(k), 12.5%; (b) in respect of (A) any investment or acquisition permitted pursuant to clause (u) of the definition of “Permitted Investments” or (B) clause (c)(i) of the definition of “Permitted Acquisitions,” 10.0%; (c) in respect of any payment, repurchase or redemption pursuant to Subsection 8.6(a), 12.5%; (d) in respect of any merger, consolidation, amalgamation or asset sale pursuant to Subsection 8.2(a) or 8.2(b), 10.0%; and (e) in respect of any Asset Sale that would otherwise have to comply with Subsection 8.5, 10.0%.; and (ii) “Fixed Charge Condition” shall mean 30-Day Specified Excess Availability (divided by Availability as of such time of determination and expressed as a percentage) exceeds: (a) in respect of any Restricted Payment pursuant to Subsection 8.3(k), 17.5%; (b) in respect of any acquisition permitted pursuant to clause (c)(i) of the definition of “Permitted Acquisitions”, 15.0%; (c) in respect of any investment permitted pursuant to clause (u) of the definition of “Permitted Investments”, 15.0%; (d) in respect of any payment, repurchase or redemption pursuant to Subsection 8.6(a), 15.0%; and (e) in respect of (A) any merger, consolidation, amalgamation or asset sale pursuant to Subsection 8.2(a) or 8.2(b) or (B) any Asset Sale that would otherwise have to comply with Subsection 8.5, 15.0%.