Second Installment Payment definition

Second Installment Payment means $2,000,000 deposited into the MGI Payments Escrow Account within 21 days following entry of the Dismissal Order.

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Second Installment Payment shall have the meaning set forth in Section 1.8(c)(v).

Second Installment Payment has the meaning ascribed to it in Section 2.7(f).

Examples of Second Installment Payment in a sentence

• Likewise, if less than $1,000,000 of Deficit occurs in the second twelve months period, the unused portion of Seller's obligation will expire on December 31, 2000.) The amount of Seller's commitments under this Section 9.2 shall be reduced by fifty percent (50%) if Closing occurs, but Buyer fails to make the Second Installment Payment.

• In the event of a Partial Transition, the Parties will negotiate in good faith and agree on the Controller Pro Rata Value prior to the Second Installment Payment, and upon mutual agreement in respect thereof, Purchaser shall be entitled to deduct from the Second Installment Payment payable to Seller 80% of the Adjusted Controller Working Capital Amount, and the Purchase Price shall be deemed to be reduced accordingly.

• 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.

• Notwithstanding anything to the contrary herein, (i) on or prior to the date that is ninety (90) days prior to the Second Installment Payment Date, the Issuer shall have funded the Insurance Reserve Account in an amount not less than the Second Installment Amount, and (ii) on or prior to the date that is ninety (90) days prior to the Third Installment Payment Date, the Issuer shall have funded the Insurance Reserve Account in an amount not less than the Third Installment Amount.

• Following the execution of this Agreement, Buyer shall execute and deliver to Seller a non-interest bearing promissory note, in the form attached hereto as Exhibit "B" (the "Promissory Note"), in the principal amount of FIVE MILLION DOLLARS ($5,000,000), payable in two installments of TWO MILLION DOLLARS ($2,000,000) on August 2, 1999 (the "First Installment Payment") and THREE MILLION DOLLARS ($3,000,000) on December 1, 1999 (the "Second Installment Payment").

More Definitions of Second Installment Payment

Second Installment Payment has the meaning set forth in Section 3.1(a)(ii).

Second Installment Payment means $2,000,000, payable in any combination of cash or shares of Parent Common Stock in Seller’s sole discretion.

Second Installment Payment has the meaning given to such term in the Purchase Agreement.

Second Installment Payment means the payment on the Promissory Note made by Borrower or Borrower's Assigns to the Lender on or before July 30, 2004, in an amount which is greater than or equal to $437,500."

Second Installment Payment shall have the meaning ascribed to it on Annex 4.”

Second Installment Payment has the meaning specified in Sections 1.1 and 1.2 hereof.

Second Installment Payment has the meaning given to that term in Section 3.06(d).