Subsequent Payment Date definition
Examples of Subsequent Payment Date in a sentence
Each Cash Investor has, and will have on the Closing Date and on any Subsequent Payment Date, cash available to it in an amount sufficient to make its Initial Cash Contribution or Subsequent Cash Contribution, as the case may be, in accordance with the terms of Article 2.
Purchaser shall pay to Seller the amount of $2,500,000 in cash in consideration for the sale of the Membership Interest (the "Purchase Price"), $1,000 of which is payable at Closing (as defined herein) and the balance of which is payable on the six month anniversary of the Commencement Date (as defined in the Joint Venture Agreement) (the "Subsequent Payment Date").
On the Subsequent Payment Date, Purchaser shall deliver to Seller via wire transfer of immediately available funds, cash in the amount of $2,499,000.
Notwithstanding any provision in this Agreement or in the Note, if for any reason the Post-Closing Payment Amount is paid prior to the Subsequent Payment Date, then the Post-Closing Payment Amount shall be paid in United States cash currency.
If a Change of Control Event occurs at any time prior to the Subsequent Payment Date, then at the election of Sellers’, the Sellers shall be immediately entitled to receive the Post-Closing Payment Amount in the form of a United States cash currency payment.