Common use of First Installment Clause in Contracts

First Installment. On the date the Purchase Price reaches the Provisional Account in accordance with legal procedures and upon satisfaction of the following conditions, the Transferee shall pay 80% of the Purchase Price (“First Installment”) to the Transferors: 8.1.1 The Transferors has obtained written documents of Lishui municipal government’s consent to the Equity Stakes Transfer specified in Article 22.13 of the Contract 8.1.2 The Object Company shall have legally obtained the Social Insurance Registration Certificate and Water Procurement Certificate. 8.1.3 The Transferors and the Transferee agree that 80% yield from power generation of the Hydropower Project belongs to the Object Company from the date of the First Installment to the date of the second installment, and the Transferors shall not dispose of or reduce the aforesaid yield in whatever manner, for which the Transferee is entitled to pursue compensation directly from the Transferors.