Examples of First Deferred Payment in a sentence
If the Proposed Disposal is completed around 12 months from the signing of the Disposal Agreements, the First Deferred Payment will be made together with the Balance Consideration that is payable on completion.
Each of the First Deferred Payment and the Second Deferred Payment shall be paid by wire transfer of immediately available funds in accordance with the wire instructions set forth in Schedule A attached hereto (as may be updated by Seller from time to time).
Upon notice to Seller specifying in reasonable detail the basis therefor, Buyer may, by written notice to Seller, set off any amount to which it may be entitled under this Article VII against amounts otherwise payable to Seller, including but not limited to the First Deferred Payment, the Second Deferred Payment, any Net Seller Payment or Appreciation Right Amount that is or becomes payable to Seller hereunder.
The First Deferred Payment and Second Deferred Payment will be secured by an irrevocable and unconditional bank guarantee which will be provided at completion of the Proposed Disposal from an Australian bank or financial institution acceptable to Ford Dynasty and on terms and conditions acceptable to Ford Dynasty.
Notwithstanding anything herein or otherwise to the contrary, the First Bank LC and the Second Bank LC are vehicles for ensuring that the Buyer makes the First Deferred Payment and Second Deferred Payment, but will not (and will not be deemed to) in any way relieve Buyer’s payment obligations under this Agreement.