Common use of Advanced Payment Clause in Contracts

Advanced Payment. (1) In order that the Lessors may perform the Construction smoothly, the Lessee shall, subject to Article 9, pay 600 million Won of the security deposit under the Lease Agreement to the Lessors as advanced payment, of which 300 million Won shall be paid on May ___, 2005 and 300 million Won shall be paid on July 1, 2005. (2) The Lessors shall not use the amount of advanced payment under paragraph 1 above for any purpose other than the Construction, and such amount of advanced payment shall be applied towards the security deposit to be paid under the Lease Agreement upon execution thereof.