Initial Equity Payment Clause Samples

Initial Equity Payment. Subject to Section 1.2(d) below, upon the terms and subject to the conditions hereof, at the Closing, TM shall issue and deliver to each HMDF Shareholder the number of TM Shares set forth opposite such HMDF Shareholder’s name on Schedule B in the column entitled “Initial Equity Payment,” representing, in the aggregate, 19,500,000 TM Shares (the “Initial Equity Payment”).
View Source
Initial Equity Payment. In connection with the purchase of the Purchased Shares, the Purchaser agrees to pay to the Corporation its pro rata share of the historical expenditures borne by the Corporation in relation to the Boleo Project from June 1, 2007 to May 30, 2008. The Purchaser acknowledges having received from the Parent prior to the date of this Agreement a schedule setting out such expenditures in sufficient detail to permit Closing. As soon as reasonably practicable following Closing, the Parent will cause the Corporation, at the Corporation’s expense, to have the Corporation’s financial statements from January 1, 2008 to May 30, 2008 reviewed by the Corporation’s statutory auditors, and the amount of the Initial Equity Payment will be adjusted for any discrepancy between the Purchaser’s pro rata share of the amount of such expenditures for such period as set out in the summary to be provided to the Purchaser pursuant to Section 6.1(k) and the Purchaser’s pro rata share of the amount determined pursuant to such review. Promptly following the completion of such review, the Parent will cause the Corporation to pay to the Purchaser, or the Purchaser will pay to the Corporation, as the case may be, the amount of such discrepancy to the extent that the Purchaser’s pro rata share of the expenditures in the summary exceed or are exceeded by, respectively, the Purchaser’s pro rata share of the amount determined pursuant to the review.
View Source
Initial Equity Payment. Upon the terms and subject to the conditions hereof, at the Closing, ID Cayman shall issue and deliver to each SM Shareholder and the Non-signing SM Shareholder the number of ID Cayman Shares set forth opposite the name of each such Person on Schedule C in the column entitled “Initial Equity Payment,” representing, in the aggregate 6,865,341 ID Cayman Shares (the “Initial Equity Payment”).
View Source
Initial Equity Payment. Upon the terms and subject to the conditions hereof, at the Closing, MK Cayman shall issue and deliver to each Pypo Shareholder the number of MK Cayman Shares and 3,400,000 MK Cayman Class B Warrants set forth opposite such Pypo Shareholder’s name on Schedule C in the column entitled “Initial Equity Payment,” representing, in the aggregate 45,000,000 MK Cayman Shares (the “Initial Equity Payment”).
View Source

Related to Initial Equity Payment

  • Contribution Payment To the extent the indemnification provided for under any provision of this Agreement is determined (in the manner hereinabove provided) not to be permitted under applicable law, the Company, in lieu of indemnifying Indemnitee, shall, to the extent permitted by law, contribute to the amount of any and all Indemnifiable Liabilities incurred or paid by Indemnitee for which such indemnification is not permitted. The amount the Company contributes shall be in such proportion as is appropriate to reflect the relative fault of Indemnitee, on the one hand, and of the Company and any and all other parties (including officers and directors of the Company other than Indemnitee) who may be at fault (collectively, including the Company, the "Third Parties"), on the other hand.

  • ANNUITY PAYMENTS GENERAL Benefits payable under this Contract may be applied in accordance with one or more of the Annuity Options described below, subject to any restrictions of Internal Revenue Code sections 401(a)(9) and 408(b)(3). If guaranteed payments are to be made, the period over which the guaranteed payments are made may not exceed the period permitted under Section 1.401(a)(9)-6 of the Income Tax Regulations. Once Annuity Payments commence, the Annuity Option may not be changed. We will send you information about Annuity Options before the Annuity Commencement Date. If by the Maturity Date, you do not choose an Annuity Option, make a total withdrawal of the Surrender Value, or ask us to change the Maturity Date, we will automatically pay you Annuity Payments under the Annuity Option shown on the Specifications Page and the Annuity Commencement Date is considered to be the Maturity Date. You can change the Annuity Option at any time before Annuity Payments commence. You may select a Fixed or Variable Annuity. We will provide variable Annuity Payments unless otherwise elected. Once Annuity Payments commence, the Annuity Option may not be changed. The method used to calculate the amount of the initial and subsequent Annuity Payments is described below. If the monthly income is less than $20, we may pay the greater of the Contract Value or the commuted value of the Lifetime Income Benefit in one lump sum on the Maturity Date, or the Annuity Commencement Date if earlier. VARIABLE ANNUITY PAYMENTS We will determine the amount of the first variable Annuity Payment by applying the portion of the Contract Value used to effect a Variable Annuity (minus any applicable premium taxes) to the Annuity Option elected based on the mortality table and assumed interest rate shown on the Specifications Page. We will provide a table of the annuity factors upon request. If the current rates in use by us on the Annuity Commencement Date are more favorable to you, we will use the current rates. The portion of the Contract Value used to effect a Variable Annuity will be measured as of a date not more than 10 business days prior to the Annuity Commencement Date. Subsequent payments will be based on the investment performance of the Investment Options you elected. The amount of each subsequent variable Annuity Payment is determined by multiplying the number of Annuity Units credited for each Investment Option you elect by the appropriate Annuity Unit value on each subsequent determination date, which is a uniformly applied date not more than 10 business days before the payment is due. The number of Annuity Units is determined by dividing the portion of the first payment allocated to an Investment Option by the Annuity Unit value for that Investment Option determined as of the same date that the Contract Value used to effect Annuity Payments was determined. The portion of the first payment allocated to an investment Option will be determined in the same proportion that the Investment Account Value of each Investment Option bears to the Contract Value used to effect the Variable Annuity, unless you elect a different allocation. MORTALITY AND EXPENSE We guarantee that the dollar amount of each GUARANTEE variable Annuity Payment will not be affected by changes in mortality and expense experience. 12.1 ANNUITY UNIT VALUE The value of an Annuity Unit for each Investment Option for any Valuation Period is determined as follows: (a) The net investment factor for the corresponding Sub-Account for the Valuation Period for which the Annuity Unit value is being calculated is multiplied by the value of the Annuity Unit for the preceding Valuation Period; and (b) The result is adjusted to compensate for the interest rate used to determine the first variable Annuity Payment. The dollar value of Annuity Units may increase, decrease or remain the same from one Valuation Period to the next. FIXED ANNUITY PAYMENTS We will determine the amount of each fixed Annuity Payment by applying the portion of the Contract Value used to effect a Fixed Annuity measured as of a date not more than 10 business days prior to the Annuity Commencement Date (minus any applicable premium taxes) to the Annuity Option elected based on the mortality table and interest rate shown on the Specifications Page. The fixed Annuity Payment will not be less than that available by applying the Contract Value to purchase a single premium immediate annuity then offered to the same class of annuitants by us or a company affiliated with us. We guarantee the dollar amount of fixed Annuity Payments.

  • Negotiated Funding Amount, Board Contributions 4.1.1 Each Board shall pay an amount equal to 1/12th of the annual negotiated funding amount as described in 4.1.3 to the Trustees of the OECTA ELHT by the last day of each month from and after the Board’s Participation Date.

  • Initial Payment Interconnection Customer shall elect (and provide its election to the Transmission Provider within five days of the commencement of negotiation of the GIA pursuant to Section 11.2 of the GIP) to make either 1) an initial payment equal to twenty

  • Payment Amount Payment for the Services shall be as follows: (choose one) ☐ - $______________________ for the Services (“Payment”). ☐ - At an hourly rate of $____ per hour (“Payment”). ☐ - Other. ______________________________________________ (“Payment”) If the Subcontractor asserts a claim which involves, in whole or in part, acts or omissions which are the responsibility of the Client or another person for whom a claim may be submitted, including but not limited to, claims for failure to pay, an extension of time, impacts, delay damages, or extra work, the Contractor shall present the Subcontractor's claim to the Client or other responsible party provided the Subcontractor presents to Contractor competent supporting evidence and in sufficient time for the Contractor to do so. The Subcontractor shall cooperate fully with the Contractor in any and all steps the Contractor takes in connection with prosecuting such a claim and shall hold harmless and reimburse the Contractor for all expenses, including legal expenses, incurred by the Contractor which arise out of the Contractor's submission of the Subcontractor's claims to the Client or other responsible party(ies). The Subcontractor shall be bound by any adjudication or award in any action or proceeding resolving such a claim.