First Installment Payment Date definition
Examples of First Installment Payment Date in a sentence
In the event that the difference between the Net Asset Value on Closing and the Purchaser Closing Balance Sheet Net Asset Value (the “True Up Amount”) is greater than zero, then the True-Up Amount shall be deducted from the First Installment or in the event the True Up Amount is greater than the First Installment, such True Up Amount shall be paid by the Sellers to the Purchaser on the First Installment Payment Date.
Elevation has legally binding capital commitments sufficient to, and will have, on the First Installment Payment Date and the Second Installment Payment Date, respectively, sufficient funds to, pay the Installment Payment payable at such date pursuant to Section 2.2.
ANNEX I PAYMENT SCHEDULE Amount First Installment Payment Date.........
Consultant shall receive payment of the First Installment on the First Installment Payment Date and the Second Installment on the Second Installment Payment Date.
In addition, until the outstanding Principal Amount is paid in full, Borrower shall pay to the Bank all accrued and unpaid interest, in amounts that may vary, on the Payment Due Date of each month beginning on the First Installment Payment Date, or as otherwise invoiced by the Bank.
For the purposes of this Agreement, the "First Installment Payment Date" shall be the date upon which MMS receives Option Installment Payment 1 and the "Option Period" shall be the period commencing on the First Installment Payment Date and expiring on the earlier of (a) the date upon which ORION exercises the Option in accordance with Section 5 below and (b) the last day of the 16th month following the First Installment Payment Date, but in no event later than June 30, 1998.
MMS covenants to ORION and ORION acknowledges that (a) MMS will commence to perform the Work on the First Installment Payment Date and will continue to perform the Work until termination of this Agreement if ORION pays each Option Installment Payment on or before the date such Payment is required to be made and (b) to perform the Work according to the schedule set forth in the ORION 2 Purchase Contract, MMS will be required to expend funds in excess of the Option Price.
Each of the remaining Installments will be payable on the Company’s regularly scheduled bi- weekly paydays that occur after the First Installment Payment Date until the balance of the Separation Payment has been paid to the Executive.