First Initial payment definition
First Initial payment has the meaning set forth in Section 2.6(a).
First Initial payment. For Vessel 1 and Vessel 2 within [*] of the Effective Date of this Contract, a payment of [*] per Vessel, for a total of [*], which shall be non-refundable except as provided in Articles 9(d) and 26(b) or if the requirement for the guaranty of General Dynamics Corporation is not satisfied.