Shortfall Payment. If, for a given Performance Year, beginning in the First Event Test Year, Lessee fails to meet the Minimum Event Levels, then Lessee, as Lessor’s sole and exclusive remedy for such failure, shall pay to Lessor within thirty (30) days of the end of such Performance Year an amount equal to the product of (x) [*****] times (y) the sum of all Target Shortfalls during such Performance Year (the “Shortfall Payment”).
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Sources: Ground Lease (MSG Entertainment Spinco, Inc.), Ground Lease (MSG Entertainment Spinco, Inc.)
Shortfall Payment. If, for a given Performance Year, beginning in the First Event Test Year, Lessee fails to meet the Minimum Event Levels, then Lessee, as Lessor’s sole and exclusive remedy for such failure, shall pay to Lessor within thirty (30) days of the end of such Performance Year an amount equal to the product of (x) [*****] * times (y) the sum of all Target Shortfalls during such Performance Year (the “Shortfall Payment”).
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