Initial Payment Credit definition

Initial Payment Credit means an amount equal to the Initial Payment plus an additional amount computed in the same manner as annually non-compounded interest on such Initial Payment, on the basis of a 365-day year pro rated for any partial year, at a per annum interest rate equal to the applicable Interest Rate.
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Initial Payment Credit means an amount equal to the Initial Payment plus an additional amount computed in the same manner as annually non- compounded interest on such Initial Payment, on the basis of a 365-day year pro rated for any partial year, at a per annum interest rate equal to the applicable Interest Rate.
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Examples of Initial Payment Credit in a sentence

  • Arius shall be entitled to apply the Initial Payment Credit and Development Cost Credit against all amounts due under Section 3 of this Agreement, such that, until the cumulative amounts due under Section 3 of this Agreement exceed the sum of the Development Cost Credit and Initial Payment Credit, Arius shall not be required to make any payments to ABPI under Section 3 of this Agreement.

  • All such books and records shall be maintained for three (3) years following the relevant year or such longer period as is required by applicable laws, provided that all books and records concerning Development Costs and the Interest Rates shall be retained for at least three (3) years following the last calendar quarter for which the Development Cost Credit and Initial Payment Credit were applied against amounts due under Section 3.