Second Instalment Sample Clauses
The 'Second Instalment' clause defines the terms and conditions under which a second payment is to be made in a contractual arrangement. Typically, this clause specifies the amount, due date, and any conditions that must be met before the second instalment is payable, such as completion of a project milestone or delivery of goods. By clearly outlining when and how the second payment is to be made, this clause helps ensure both parties understand their financial obligations and reduces the risk of disputes over payment timing or requirements.
POPULAR SAMPLE Copied 1 times
Second Instalment. Ten per cent (10%) of the CONTRACT PRICE amounting to U.S.Dollars Nine Million Seven Hundred Thirty Thousand (US$ 9,730,000) shall be paid on the date falling six (6) months from the date of signing this CONTRACT.
Second Instalment. The second instalment amounting to United States Dollar Three Million Seven Hundred Thousand only (US$3,700,000) shall be due and payable upon the later of the steel cutting of the Vessel and within five (5) banking days after the receipt of the Builder’s confirmation that steel cutting has commenced and confirmed in writing by the Classification Society, which to be effected not earlier than eleven (11) months prior to delivery of the Vessel.
Second Instalment. Within five (5) banking days after the Buyer’s receipt of e-mail or telefax advice from the Builder that the steel cutting of the Vessel has been commenced and, in any case, not earlier than twelve (12) months prior to delivery, the Buyer shall remit by bank transfer by telex or cable the second instalment to the Bank in favour of the Builder payable against the Builder’s written statement endorsed by the Classification Society that the steel cutting of the Vessel has been completed.
Second Instalment. The second instalment amounting to US$4,125,000 representing ten (10%) of the Contract Price shall be due and payable and shall be paid on the first Banking Day that is twelve (12) months after the date of this Contract.
Second Instalment. The sum of United States Dollars Sixty-Nine Million and Two Hundred Thousand (US$69,200,000) equivalent to 20% of the Contract Price shall be paid on or before 25 June 2016.
Second Instalment. 5 per cent increase in the salaries prescribed for all Employees covered by the Agreement, as set out in Schedule 1 shall be effective from 01/07/2021 (“Second Instalment”).
Second Instalment. Remaining amount of 15% of the order value shall be paid after satisfactory installation of equipments and execution of Performance Guarantee for proper maintenance during warranty period as mentioned at Clause
Second Instalment. Upon signing of the Share Agreement (as defined in paragraph (g) below) and the Loan Agreement (as defined in paragraph (g) below), Morefit shall provide SBA with an irrevocable guarantee given by Shenzhen Development Bank, PRC in favour of SBA to secure Morefit’s payment obligation of RMB30,000,000 (equivalent to approximately HK$28,267,000) (“Second Instalment”), being the remainder of the Consideration. The enforceability of such guarantee shall expire or terminate upon receipt of the Second Instalment by SBA or termination of the Agreement in accordance with the terms contained therein, whichever shall happen earlier. Within 5 Business Days upon Sale Shares Completion, Morefit shall pay to SBA the Second Instalment. The Consideration was negotiated between the parties on an arm’s length basis and on normal commercial terms. The Consideration was determined with reference to the business enterprise value (defined in the Valuation Report to mean the total invested capital, net of the value of debt but including non-interest bearing shareholders’ loans) of SK Companies net of shareholders’ loans as stated in the Valuation Report and the amount of the Shareholder’s Loan. Payment of the Consideration will be funded by internal resources of GDB Group.
Second Instalment. Subject to the release by the EU Council of Ministers of a second allocation of EUR 250 million from the EUR 1 conditional billion under the 9th EDF, this amount shall be used for a second instalment of the ACP-EU Water Facility.
Second Instalment. The second instalment of Rs.75,000 /- shall be released to the Eligible pharmacist for purchase and installation of equipments within 15 days after completion of all infrastructure required for operation of the pharmacy .The pharmacist shall submit a utilization certificate for the infrastructure development subsidy amount(i.e.,first instalment subsidy) which will be verified by Deputy Registrars/Regional Joint Registrars before the release of 2nd instalment.