Second Instalment. The second instalment equal to ten percent (10%) of the Contract Price amounting to United States Dollar Three Million Seven Hundred Thousand only (US$3,700,000) shall be due and payable upon the later of the steel cutting of the Vessel and within five (5) banking days after the receipt of the Builder’s confirmation that steel cutting has commenced and confirmed in writing by the Classification Society, which to be effected not earlier than twelve (12) months prior to delivery of the Vessel.
Second Instalment. Ten per cent (10%) of the CONTRACT PRICE amounting to U.S.Dollars Nine Million Seven Hundred Thirty Thousand (US$ 9,730,000) shall be paid on the date falling six (6) months from the date of signing this CONTRACT.
Second Instalment. The second instalment amounting to US$4,125,000 representing ten (10%) of the Contract Price shall be due and payable and shall be paid on the first Banking Day that is twelve (12) months after the date of this Contract.
Second Instalment. Within five (5) banking days after the Buyer’s receipt of e-mail or telefax advice from the Builder that the steel cutting of the Vessel has been commenced and, in any case, not earlier than twelve (12) months prior to delivery, the Buyer shall remit by bank transfer by telex or cable the second instalment to the Bank in favour of the Builder payable against the Builder’s written statement endorsed by the Classification Society that the steel cutting of the Vessel has been completed.
Second Instalment. The sum of United States Dollars Sixty-Nine Million and Two Hundred Thousand (US$69,200,000) equivalent to 20% of the Contract Price shall be paid on or before 25 June 2016.
Second Instalment. A 2.5 per cent increase in the salaries prescribed for all Employees covered by the Agreement, as set out in Schedule 1 shall be effective from 01/07/2021 (“Second Instalment”).
Second Instalment. 15.2.1. An increase in base rates of 4% (as per column Rate Increase 2 at Appendix B), will be made from the beginning of the first full pay period in November 2007.
Second Instalment. Upon signing of the Share Agreement (as defined in paragraph (g) below) and the Loan Agreement (as defined in paragraph (g) below), Morefit shall provide SBA with an irrevocable guarantee given by Shenzhen Development Bank, PRC in favour of SBA to secure Morefit’s payment obligation of RMB30,000,000 (equivalent to approximately HK$28,267,000) (“Second Instalment”), being the remainder of the Consideration. The enforceability of such guarantee shall expire or terminate upon receipt of the Second Instalment by SBA or termination of the Agreement in accordance with the terms contained therein, whichever shall happen earlier. Within 5 Business Days upon Sale Shares Completion, Morefit shall pay to SBA the Second Instalment. The Consideration was negotiated between the parties on an arm’s length basis and on normal commercial terms. The Consideration was determined with reference to the business enterprise value (defined in the Valuation Report to mean the total invested capital, net of the value of debt but including non-interest bearing shareholders’ loans) of SK Companies net of shareholders’ loans as stated in the Valuation Report and the amount of the Shareholder’s Loan. Payment of the Consideration will be funded by internal resources of GDB Group.
Second Instalment. A 1 per cent per annum increase in wages shall be granted to all employees of Swan Hill Rural City Council, as from the first full pay period to commence on or after 1 July 2022.
Second Instalment. Second instalment will be paid after delivery of the goods at the prescribed destinations. The amount of 2nd instalment shall be 45% of the value of machines delivered. The second instalment will be paid after receipt of duly acknowledged delivery challans & invoice, as required by the Purchaser.
