Variable Obligation Clause Samples
A Variable Obligation clause defines duties or responsibilities that may change based on certain conditions or events specified in the contract. This clause typically outlines how the scope, amount, or timing of an obligation can be adjusted, such as payment amounts that fluctuate with market rates or delivery schedules that shift based on demand. Its core practical function is to provide flexibility and adaptability within the agreement, ensuring that the parties can respond to changing circumstances without breaching the contract.
Variable Obligation. Not Applicable.
Variable Obligation. Not Applicable. Cash Settlement Payment Date: If Cash Settlement is applicable, the second Currency Business Day following the applicable Valuation Date. Forward Cash Settlement Amount: The aggregate sum, for all Unwind Dates in the relevant Unwind Period, of the Daily Cash Settlement Amounts.
Variable Obligation. Not Applicable. Cash Settlement Payment Date: The second Currency Business Day following each Valuation Date.
Variable Obligation. Not applicable. Redemptions: Counterparty shall promptly accept any redemption reversal requests in connection with purchases of Shares by Seller for any Public Shares subject to this Confirmation. Exchange(s): The Nasdaq Global Market (“Nasdaq”). Related Exchange(s): All Exchanges. Reimbursement of Legal Fees and Other Expenses: On the Trade Date, Counterparty shall pay to Seller an amount equal to the reasonable and documented attorney fees and other reasonable and documented expenses related to such attorney fees incurred by Seller or its affiliates in connection with this Transaction in an amount not to exceed $10,000.
Variable Obligation. Not Applicable. Exchange: The New York Stock Exchange Related Exchange(s): All Exchanges Calculation Agent: Dealer; provided that, following the occurrence of an Event of Default described in Section 5(a)(vii) of the Agreement with respect to which Dealer is the Defaulting Party, Counterparty shall have the right to designate a nationally recognized third-party dealer in over-the-counter equity derivatives market to act as the substitute Calculation Agent. Upon receipt of written request from Counterparty following any calculation, adjustment or determination made by Calculation Agent hereunder, Calculation Agent shall, within five (5) Exchange Business Days from the receipt of such request, provide Counterparty with a written explanation describing, in reasonable detail, such calculation, adjustment or determination (including any market data or information from internal sources used in arriving at such calculation, adjustment or determination, but without disclosing Calculation Agent’s models or information that is proprietary or that Dealer is subject to contractual, legal or regulatory obligations not to disclose).
Variable Obligation. Not applicable. Exchanges: Nasdaq Stock Market LLC, New York Stock Exchange LLC or NYSE American LLC Related Exchange(s): All Exchanges Payment Dates: Following the Business Combination, the last day of each calendar quarter or, if such date is not a Local Business Day, the next following Local Business Day, until the Valuation Date. Reimbursement of Legal Fees and Other Expenses: Together with the Prepayment Amount, Counterparty shall pay to Seller an amount equal to (a) the reasonable and documented attorney fees and other reasonable out-of-pocket expenses related thereto actually incurred by Seller or its affiliates in connection with this Transaction, not to exceed $75,000 in the aggregate and (b) expenses actually incurred in connection with the acquisition of the Recycled Shares in an amount not to exceed $0.05 per Recycled Share. Counterparty shall also pay to Seller, a quarterly fee of $5,000 (payable at the Closing Date, prorated to account for any days remaining in the quarter, and upon the first day of each subsequent quarter) in consideration of certain legal and administrative obligations in connection with this Transaction, including, without limitation, legal, structuring and documentation, entity maintenance, escrow management, account set-up, and ongoing audit fees.
Variable Obligation. Applicable
Variable Obligation. Not Applicable. Cash Settlement Payment Date: If Cash Settlement is applicable, the date one Settlement Cycle following the applicable Valuation Date. Forward Cash Settlement Amount: The aggregate sum, for all Unwind Dates in the relevant Unwind Period, of the Daily Cash Settlement Amounts.
Variable Obligation. Not Applicable. Forward Price Reduction Date: For each Transaction, each date (other than the Trade Date) as specified on Schedule I to the Supplemental Confirmation for such Transaction under the heading “Forward Price Reduction Date.” Forward Price Reduction Amount: For each Forward Price Reduction Date of a Transaction, as specified on Schedule I to the Supplemental Confirmation for such Transaction under the heading “Forward Price Reduction Amount.” Exchange: New York Stock Exchange. Related Exchange(s): All Exchanges.
Variable Obligation. Not applicable. Redemptions: Counterparty shall promptly accept any redemption reversal requests in connection with purchases of Shares by Seller for any Public Shares subject to this Confirmation. Exchange(s): The Nasdaq Stock Market LLC (“Nasdaq”). Related Exchange(s): All Exchanges.