Initial Down Payment Clause Samples
The Initial Down Payment clause specifies the amount of money a buyer must pay upfront at the start of a transaction, typically as a sign of commitment to the agreement. This payment is usually made upon signing the contract and is often credited toward the total purchase price. By requiring an initial down payment, the clause helps demonstrate the buyer’s seriousness, provides the seller with immediate partial compensation, and reduces the risk of default or withdrawal from the deal.
POPULAR SAMPLE Copied 27 times
Initial Down Payment. Upon execution of this interim agreement SIBE will provide a series of initial down payments to start project design. Ball Industrial Services shall make deposits to Bratney, and design engineers, to begin engineering. Ball Industrial Services will require a payment of $750,000 for preconstruction engineering, design, deposits and other initial project expenses. Ball Industrial Services will provide SIBE with a weekly accounting of any such payments and deposits.
Initial Down Payment. Within ____* after the Effective Date, the Designated Owner shall pay to Supplier, as a down payment for the Group 1 Wind Turbines, the amount set forth in the Payment Schedule designated as the “Initial Down Payment” for the Group 1 Wind Turbines, with the Adjustable Portion to be converted, for purposes of making such down payment only, to Dollars based on the Euros to Dollars exchange rate on ▇▇▇▇▇.▇▇▇ on May 28, 2008 at 4 p.m. Eastern Standard Time, which rate is ____* Euros per Dollar (the “Assumed Hedging Rate”).
Initial Down Payment. Buyer agrees to make a down-payment to Seller in the amount of ten million US dollars (USD $10 million), which shall be received by FCE on or before October 31, 2012 (“Initial Down-payment”).