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

  • 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.

  • 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).

  • 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.

  • 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.

  • As mentioned in paragraph 1.1 of the 14 Feb Announcement, pursuant to the Supplementary Agreement, the Year 1 Payment, the Year 2 Payment and the Year 3 Payment will cease to be payable, and the Company is released and discharged from any obligation under the SPA to make further payment to the Vendor.

  • However, in the event during the first twelve (12) month period from the Effective Date the Year 1 Milestone Revenue is less than the Year 1 Target, the Year 1 Payment shall be reduced by twenty (20) shares of common stock of MM for every dollar that the Year 1 Milestone Revenue during the first twelve (12) month period from the Effective Date is below the Year 1 Target.

  • On or before December 31, 1998, (i) if the Estimated Year 1 Payment exceeds [*], NOVA shall pay the amount of the excess to KeyBank or (ii) if the Estimated Year 1 Payment is less than [*], KeyBank shall reimburse NOVA for the amount of the shortfall.

  • Service UsersService useroccupancyCare ServiceDeveloper /OperatorLCCBlock contractLand(LCC or Partner)Finance(Debt & Equity)ConstructionPage 88Present Value of Costs Equivalent Annual Cost Year 1 Payment Average Payment ▪ This demonstrates significant variances in the real costs of each model .

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, collectively, the lump-sum payments that may be payable to Executive pursuant to the first sentence of Subsection 6(b)(iii) and pursuant to Subsection 6(c)(ii)(B).

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

  • lump sum payment period means the period measured in weeks of salary, for which payment has been made to facilitate the transition to retirement or to other employment as a result of the implementation of various programs to reduce the size of the Public Service. The lump sum payment period does not include the period of severance pay, which is measured in a like manner.

  • Quarterly Payment Date means the last Business Day of each March, June, September and December.

  • PAGA Payment means the penalties pursuant to PAGA that the Parties have agreed is a

  • Earnout Payment has the meaning set forth in Section 2.3(b).

  • Installment Payment Date means the date on which an installment payment of an assessment is payable.

  • Upfront Payment has the meaning set forth in Section 4.1.

  • Minimum Monthly Payment for any Mortgage Loan and any month means the minimum amount required to be paid by the related mortgagor in that month.

  • Incentive Payment means the payment to a STGU, including an AOBC Generation Unit, for RPS class I Renewable Generation Attributes and/or Environmental Attributes produced by these units, calculated pursuant to Section 7.0 below.

  • Make-Whole Payment means, with respect to any Series 2018-2 Note on any Optional Repurchase Distribution Date, the pro rata share with respect to such Series 2018-2 Note of the excess, if any, of (x) the sum of the Discounted Values for each Remaining Distribution Amount with respect to each Applicable Distribution Date over (y) the Series 2018-2 Invested Amount as of such Optional Repurchase Distribution Date (determined after giving effect to any payments made pursuant to Section 2.5(a) on such Distribution Date).

  • Deferred Sales Charge Payment Date means October 10, 2013 and the tenth day of each month thereafter through February 10, 2014.

  • Annual Payment The total amount payable to the Settlement Fund Administrator by the Settling Distributors on the Payment Date each year, as calculated by the Settlement Fund Administrator pursuant to Section IV.B.1.e. For the avoidance of doubt, this term does not include the Additional Restitution Amount or amounts paid pursuant to Section X.

  • Delta Payment means as it is described in this Agreement.

  • Installment Payments shall have the meaning set forth in Section 5(b)(ii).

  • Earn-Out Payment has the meaning set forth in Section 2.07(a)(i).

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

  • Option Payment shall have the meaning set forth in Section 3.4.

  • Payout Amount means the vested portion of the Final Amount expressed as an amount of cash equal to the Fair Market Value of the shares of Stock underlying the RSUs and related Dividend Equivalents.

  • Estimated Incremental Quarterly Tax Amount has the meaning assigned to such term in Section 6.9.

  • Deferred Sales Charge Payment Dates means the dates specified for deferred sales fee installments under "Investment Summary--Fees and Expenses" in the Prospectus for the Trust.

  • Payment Amount as defined in Section 3.5.

  • Interim Payment has the meaning specified in Section 10.1.