4Deferred Payment Sample Clauses

4Deferred Payment. The Purchaser shall pay the Seller: (a) on or before the date falling 10 Business Days following Hi-Tec Sports UK Limited receiving any repayment of part or all of the Relevant VAT from HM Revenue & Customs whether by way of repayment, credit or set-off, an amount equal to the amount of the Relevant VAT repaid (whereby an exchange rate of 1.16890707188778 EUR to 1 GBP shall be applied); and (b) on or before 30 June 2017, an amount equal to the Deferred Payment less any amount paid to the Seller pursuant to clause 3.4(a), provided always that the aggregate amount payable by the Purchaser to the Seller under this clause 3.4 shall not exceed the amount of the Deferred Payment.