First Installment Amount definition
Examples of First Installment Amount in a sentence
In the event any of the forgoing conditions are not fulfilled as of the time of any Subsequent Closing, then, unless such conditions are effectively waived by Nortel, the Company shall pay the First Installment Amount, the Second Installment Amount or the Third Installment Amount, as the case may be, in cash.
For this purpose, the "First Installment Amount" shall be equal to (A) 440,000 shares of 24/7 Common Stock (the "Installment Cap") multiplied by (B) the amount determined by dividing the cumulative revenues, as determined in accordance with GAAP (as hereinafter defined), consistently applied, of the Surviving Corporation for the period from January 1, 2000 to September 30, 2000, by $8,435,900 (the "First Installment Target"); provided, that the First Installment Amount shall not exceed the Installment Cap.
Buyer shall pay the first installment of $17,125,000 (the "First Installment Amount") on the date hereof by wire transfer of federal funds to Lehman and a second payment ▇▇ $17,125,000 (the "Second Installment Amount"), subject to adjustment as provided below, on the Closing Date by wire transfer of federal funds to Lehman.
Specifically, the Cash Installment shall be calculated deducting from the Final Consideration the amount of the First Installment Amount as defined under letter (a) above.
On the Pre-Closing Date, the Company will deliver to the Trustee, for the account of the Purchaser, one or more definitive certificates evidencing such part of the 2022 Notes equaling the First Installment Amount.
On the First Closing Date, the Company will deliver to the Trustee, for the account of the Purchaser, one or more definitive certificates evidencing the 2022 Notes, the 2025 Notes and the Initial 2027 Notes less the First Installment Amount.