Earn-Out Payments definition
Examples of Earn-Out Payments in a sentence
For the avoidance of doubt the parties acknowledge that any Earn-Out Payments earned and received by the Contributors shall be included in calculation of the Total Consideration.
In no event shall the Buyer or any of its Affiliates be required to take any action (or omit to take any action) or to expend any funds or incur any Liabilities or expenses in connection with increasing the likelihood of achieving the Earn-Out Payment or Bonus Payments or to otherwise protect, expedite or maximize the Earn-Out Payments or Bonus Payments.
Such payment shall be made by Acquiror as soon as reasonably practicable following the Seller Representative’s delivery of the final determination of the amount of the Earn-Out Payments, which such payment shall be made no later than June 15, 2024.
The Parties acknowledge that the Earn-Out Payments are intended to be adjustments to the Purchase Price of the Purchased Shares to reflect the underlying goodwill of the Business, the value of which cannot be accurately determined by the Parties on or before Closing Date.
Buyer shall pay to Sellers’ Representative the Earn-Out Payments generated from the quarterly Net Sales reflected in the quarterly report within 60 days after the end of the applicable calendar quarter.