Fifth Installment Clause Samples
The "Fifth Installment" clause specifies the terms and conditions under which the fifth payment in a series of scheduled payments must be made. Typically, this clause outlines the amount due, the due date, and any conditions that must be met before the payment is released, such as completion of a particular project milestone or delivery of goods. By clearly defining the requirements for the fifth installment, this clause helps ensure both parties understand their obligations and reduces the risk of disputes over payment timing or amounts.
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Fifth Installment. If the Net Profits of Jiangsu Guanzhilin reach the Operating Profit Index as defined herein and in the Operation and Management Agreement according to the audit report for the Second Audited Year, then within 10 days after the auditor completes its audit of Jiangsu Guanzhilin for the Second Audited Year (the calendar year 2010) and delivers its audit report, the Acquirer shall make a deposit in the amount of ****** of the Acquisition Consideration (RMB ******). The audit report shall be delivered no later than March 15, 2011. If the audit report is delayed because of the reasons set forth in Article 16 of this Agreement and Article 3.7 of the Supplemental Agreement to the Equity Transfer Agreement, the Acquirer’s failure to timely pay the fifth installment shall not be deemed as a delayed payment of the Acquisition Consideration.
Fifth Installment. Within 10 days after the designated auditor completes its audit of Newco for the Second Audited Year and issues its audit report determining that the Net Profits of Newco for such period reaches the Operating Profit Index as defined herein and in the Operation and Management Agreement, the Acquirer shall make a deposit of ****** of the Acquisition Consideration (RMB ******). The deadlines for issuing the audit reports in this Article are the same as those specified in Article 8.
Fifth Installment. Up to an additional 20% of the total Stock Options at any time following the fifth anniversary of the Date of Grant.
Fifth Installment. The Fifth Installment amounting to Two Hundred and Forty Two Million Nine Hundred Forty Eight Thousand United States Dollars (40%, US$ 242,948,000) plus or minus any adjustment of the Contract Price under and pursuant to the provisions of this Contract, shall be due and payable upon delivery of the DRILLSHIP or upon tender for delivery of the DRILLSHIP referred to in Paragraph 4 of Article VII of this Contract.
Fifth Installment. At least three (3) banking days prior to the anticipated delivery date of the DRILLSHIP, the BUYER shall remit by telegraphic transfer the fifth installment to the bank specified in advance in writing by the BUILDER in the name of the BUYER'S bank with instructions of the amount so remitted to be payable to the BUILDER against a copy of PROTOCOL OF DELIVERY and ACCEPTANCE OF THE DRILLSHIP signed by the BUYER and the BUILDER. Simultaneously with each of all such payment, the BUYER shall cause the BUYER'S BANK to advise the BUILDER'S BANK of the details of such payments by authenticated bank cable or telefax. No payment due under this Contract shall be delayed, suspended or withheld by the BUYER on account of any dispute or disagreement between the parties hereto. Any claim that the BUYER may have against the BUILDER hereunder shall be settled and liquidated separately from any payment by the BUYER to the BUILDER hereunder.
Fifth Installment. On or before October 31, 2008, Benchmark will pay and contribute to IEVM, via wire transfer, Five Hundred Thousand Dollars ($500,000) (the “Fifth Installment”). Promptly upon its receipt of the Fifth Installment, IEVM will (i) issue to Benchmark a stock certificate for an additional 5,000,000 shares of IEVM common stock, and (ii) initiate (pursuant to the terms of section 5 below and the Registration Rights Agreement referenced therein) a registration of the 10,000,000 Shares issued to Benchmark following its payment of the Fourth and Fifth Installments.
Fifth Installment. Seventy per cent (70%) of the CONTRACT PRICE amounting to [ ] plus or minus any increase or decrease due to modifications and/or adjustment, if any, arising prior to delivery of the VESSEL of the CONTRACT PRICE under Articles III and V of this CONTRACT shall be paid to the BUILDER upon delivery of the VESSEL. (The date stipulated for payment of each of the five installments mentioned above is hereinafter in this Article and in Article XI referred to as the “DUE DATE” of that installment). It is understood and agreed upon by the BUILDER and the BUYER that all payments under the provisions of this Article shall not be delayed or withheld by the BUYER due to any dispute or disagreement of whatsoever nature arising between the BUILDER and the BUYER. Should there be any dispute in this connection, the matter shall be dealt with in accordance with the provisions of arbitration in Article XIV hereof.
Fifth Installment. The Fifth Installment amounting to Fourteen Million Eight Hundred Seventy Eight Thousand Five Hundred and Eighty United States Dollars (10%, US$14,878,580) shall be due and payable upon June 6, 1999.
Fifth Installment. 5.6.1 Subject to the provisions of Section 5.6.2, after twelve (12) months from the Closing Date, within three (3) business days from the date when the Fifth Installment Payment Preconditions set forth in Section 3.5 of this Agreement are determined by the Transferee to have been fully satisfied (or waived in writing by the Transferee), the amount of RMB Five Hundred Thousand (500,000) (“Fifth Installment”) shall be paid from the Transferor’s Co-managed Account to the Transferor’s Collection Account.
5.6.2 In the event of circumstances stipulated in Article 13.2.1, the actual payment amount of the Fifth Installment shall be reduced by the loss amount of the Target Company.
Fifth Installment. At the time of delivery of the Vessel to the OWNER pursuant to Section 2 of Article VII of this Contract, the OWNER shall remit by telegraphic transfer the fifth installment to the account at the BUILDER's BANK in favor of Hyundai Heavy Industries, Co., Ltd., with an irrevocable instruction that the amount so remitted shall be payable to the BUILDER against presentation by the BUILDER to the BUILDER's BANK of a copy of PROTOCOL OF DELIVERY and ACCEPTANCE OF THE VESSEL executed by the OWNER and the BUILDER. No payment due under this Contract shall be delayed, suspended or withheld by the OWNER on account of any dispute or disagreement between the parties hereto. Any claim which the OWNER may have against the BUILDER hereunder shall be settled and liquidated separately from any payment by the OWNER to the BUILDER of the Contract Price hereunder.