Examples of Initial Cash Payment in a sentence
Subject to the terms and conditions of this Agreement, the Initial Cash Payment shall be paid by Buyer on the Closing Date by federal other wire transfer of immediately available funds to the account designated by Seller in writing at least two (2) Business Days prior to the Closing Date.
If the Closing Date is not a business day on which financial institutions are open and operating, then on or before the last business day on which financial institutions are open and operating before the Closing Date, Buyer shall deliver the Initial Cash Payment to Buyer's lead bank (the "Escrow Agent") in immediately available funds in U.S. dollars.
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Any such Cash Payment by a Participant, as well as any Initial Cash Payment described in Paragraph 7, is referred to herein as a "Cash Payment." The Administrator shall credit a Cash Payment to the Account of the Participant as described in Paragraph 4 above.
Upon acceptance of such Initial Cash Payment, such person or entity will become a Participant under the Plan.