Year 1 Payment definition

Year 1 Payment means the amount of cash paid by Purchasers to the holder of the Year 1 Note, which shall be a minimum amount of Five Million Dollars ($5,000,000) and may, at the sole option of Purchasers, be up to a maximum amount equal to the Year 1 Principal Amount.
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Year 1 Payment means any sum payable as Additional Consideration under paragraph 2.1 of this part of this schedule;
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Examples of Year 1 Payment in a sentence

  • The payment schedule is as follows: ● Year 1: Payment date: 9/1/2024 ● Year 2: Quarter 1 Payment Date 3/31/2025, Quarter 2 Payment Date 6/30/2025, Quarter 3 Payment Date 9/30/2025, Quarter 4 Payment Date 12/31/2025.

  • January 1st after the first calendar year that begins after Company has complied with the payment conditions for Year 1.* * By way of example, if the Year 1 Payment Conditions are met on March 1, 2016, the Year 1 City Incentive Payment would be made after January 1, 2018 (which is the first January after the 1st anniversary date of the completion of the Year 1 Payment Conditions).

  • If any portion of the Spinco Financing is repaid prior to the first anniversary of the Effective Time, the lesser of (x) $10 million and (y) an amount equal to the Grizzly True Up Amount minus the Year 1 Payment.

  • Second anniversary of the Effective Time If no portion of the Spinco Financing is repaid prior to the first anniversary of the Effective Time, the lesser of (x) $15 million and (y) an amount equal to the Grizzly True Up Amount minus the Year 1 Payment.

  • Third anniversary of the Effective Time The lesser of (x) $15 million and (y) an amount equal to the Grizzly True Up Amount minus the Year 1 Payment minus the Year 2 Payment.

  • Fourth anniversary of the Effective Time The lesser of (x) $15 million and (y) an amount equal to the Grizzly True Up Amount minus the Year 1 Payment minus the Year 2 Payment minus the Year 3 Payment.

  • January 1st after the first anniversary date that Company complied with the payment conditions for Year 1.* * By way of example, if the Year 1 Payment Conditions are met on March 1, 2017, the Year 1 City Incentive Payment would be made after January 1, 2019 (which is the first January after the 1st anniversary date of the completion of the Year 1 Payment Conditions).

  • As soon as practicable thereafter, the Buyer and the Sellers shall cause the Arbitration Firm to make a final determination of the Actual Year 1 Payment, the Actual Year 2 Payment or the Actual Year 3 Payment in accordance with the terms of this Agreement.

  • In addition, in no circumstances shall the Year 1 Payment exceed 125% of $750,000.

  • The first business day following January 1st after the first anniversary date that Company complied with the payment conditions for Year 1.* * By way of example, if the Year 1 Payment Conditions are met on March 1, 2017, the Year 1 City Incentive Payment would be made on January 2, 2019 (which is the first business day after January 1 after the 1st anniversary date of the completion of the Year 1 Payment Conditions).

Related to Year 1 Payment

  • Minimum Payment Due means the least payment amount, specified in the “Statement of Account”, required to be paid by the “Principal Cardholder” on or before the “Payment Due Date” in order to keep the “Card Account” active. “Past Due Amount” from previous “Billing Cycle” will form part of the “Minimum Payment Due”.

  • Installment Payment has the meaning ascribed to it in Section 2.02(a).

  • Minimum Payment means the amount of minimum payment as stated in the Fee Schedule;

  • Lump Sum Payment means a single payment that is not anticipated to continue.

  • Basic Rent Payment Date means Basic Rent Payment Date as defined in Paragraph 6.