Common use of Actions at Completion Clause in Contracts

Actions at Completion. At Completion, (a) the Issuer shall issue the Bond to the Investor free and clear of all Encumbrances; and (b) the Investor shall pay the Consideration to the Issuer, and the Issuer hereby irrevocably instructs the Investor to pay the Consideration in the following manner: (i) the Investor shall pay US$12,675,488.25 to the accounts designated by ▇▇▇▇▇▇▇ ▇▇▇▇▇, the details of which are set forth in Schedule 5; and (ii) the Investor shall pay US$7,824,511.75 to the account designated by IDG, the details of which are set forth in Schedule 5, as discharge of the Issuer’s obligations to pay the purchase prices of the Founder Target Shares (as defined in the Share Purchase Agreements) to ▇▇▇▇▇▇▇ Sachs and IDG under the Share Purchase Agreements, and the payment pursuant to the above sub-section (b)(i) and (ii) shall be treated as a full discharge of the obligation of the Investor to pay the Consideration to the Issuer.