Initial Prepayment definition
Examples of Initial Prepayment in a sentence
Anything in this Agreement to the contrary notwithstanding, Company shall not be obligated to proceed with any Company Work until the later of (i) the date that the Company receives payment in full of the Initial Prepayment, and (ii) the Facilities Study Report Revision Issuance Date.
The Company shall invoice Developer for the Initial Prepayment; Developer shall pay such amount to Company within five (5) Days of the invoice due date.
Any estimates provided under or in connection with this Agreement or the Company Work (including, without limitation, the Initial Prepayment) shall not limit Developer’s obligation to pay Company for all Company Reimbursable Costs actually incurred by Company and/or its Affiliates.
Unless it elects to do so in its sole discretion, Company shall not be obligated to commence any Company Work under this Agreement prior to Company’s receipt of the Initial Prepayment.
For the avoidance of doubt, the Initial Prepayment estimate does not include or take into consideration any additional or different Company Reimbursable Costs that may result from updates, revisions, amendments or other modifications to the Facilities Study Report.