Third Instalment definition
Third Instalment means an amount which:
Third Instalment has the meaning ascribed thereto in Section 2.2(a)(iii) .
Third Instalment means the third instalment of the Contract Price to be paid by the Guarantor to the Seller under the Building Contract in the amount of $8,160,000 following laying of the Vessel's keel;
Examples of Third Instalment in a sentence
The contribution will be for the following period: 2022, 2023 and 2024, in accordance with the following payment schedule: Year of Payment Amount in Euro First Instalment 2022 159 666,000 Second Instalment 2023 159 666,000 Third Instalment 2024 159 668,000 2.2. The first instalment of EUR 159 666,000 will be made upon the signature of this Agreement.
So, Euro360,000.00 is payable upon signing of the Shipbuilding contract; Second Instalment : Upon laying of the keel; Third Instalment : Upon completion of the hull; Fourth Instalment : Upon delivery of the main engines to the Builder Fifth Instalment : Upon acceptance of delivery of the vessel by the Buyer, exworks Singapore.
The Borrower shall procure that each Bank Guarantee is returned to the Lender duly cancelled forthwith upon the payment by the Borrower of the Second Instalment and the Third Instalment relating thereto or, if earlier, upon termination howsoever of the Building Contract.
The aggregate of the difference between the Original Second Instalment and P2, and the difference between the Original Third Instalment and P3, in each case expressed as a positive number, shall, in the year calculated, be the “Tranche Loss”.
For the avoidance of doubt, the Bank Guarantee in respect of the Third Instalment will only be issued on payment of the Second Instalment by the Borrower and cancellation of the Bank Guarantee in respect of the same.
More Definitions of Third Instalment
Third Instalment as defined in Clause 4.2.4;
Third Instalment has been fixed by the Parties in Euro 3.359.880,00. It is expressly agreed that all costs accounted by the Company for the Scampitella Project until the date of the Closing will have to be added pro quota to the above-mentioned amount. Moreover, it is agreed that, should the total cost for the development of the Scampitella Project exceed the sum of Euro 1.000.000,00 (one million), the approval by the Parties will have to be given for each single cost item exceeding Euro 10.000,00. It is further agreed that, in case of disagreement among the Parties with respect to the above-mentioned costs, said costs will be borne by the Sellers. The Parties mutually acknowledge and agree that should, from an economical point of view, the decrease of the effective power of Scampitella Project of the wind park with result more convenient respect to the power authorized by the public authority , the Third Instalment will be reduced of Euro 183.000,00 for each missing MW with respect to the 36 MW initially foreseen. The Third Instalment, to be calculated as above, will be paid by the Buyer to the Sellers within 10 (ten) Working Days from the occurrence of the Conditions for the Project Scampitella. The Parties undertake to immediately the occurrence of the conditions relevant the Second and Third Instalment. The Parties irrevocably undertake to make their best efforts to allow the occurrence of the conditions relevant to the Second and Third Instalment. In case within December 31st 2008 the Conditions for the Enlargement and/or the Conditions for the Project Scampitella have not occurred, nor can be reasonably expected to occur in the next future, the Parties will meet to discuss in good faith the opportunity to pursue with said projects and to agree on the relevant changes to the Contract, on the basis of a fair evaluation of the respective. In case the Parties will not reach an agreement within 3 (three) months, the Parties agree that the Contract will be considered as automatically terminated with respect to the future obligations and rights, but will remain fully valid and effective with respect to all rights and obligations already in force on the date of the termination. Back to Index The Parties agree that, should the Company receive a financial grant as a consequence of the Requests 488, as indicated under recital C) of the Contract, the Buyer will pay to the Sellers, in addition to the Price, additional sums pro quota with respect to the sums actually received by t...
Third Instalment means the third instalment of the monetary Development Contribution referred to in Column 1 of the Table in Schedule 2.
Third Instalment means the third payment to be made by Purchaser hereunder which payment shall be in the amount of Dollars (US $ ).
Third Instalment means an amount calculated in accordance with the ------------------ following formula:- if the Relevant Profits for 2000 shall be less than (Pounds)2,040,000: the Third Instalment shall be nil if the 2000 Relevant Profits shall be (Pounds)2,040,000 or more: the Third Instalment shall be: (a) (Pounds)333,333 plus (Pounds)1.852 for each (Pound)1 (if any) by which the Relevant Profits for 2000 shall exceed (Pounds)2,040,000 up to a maximum of (Pounds)2,400,000 (so that under this paragraph (a) the Third Instalment shall not exceed (Pounds)1,000,000); plus (b) if, and to the extent that, the Relevant Profits for 1999 shall be less than (Pounds)2,000,000 ("the 1999 Shortfall") (Pound)1 for every (Pound)1 (if any) by which the Relevant Profits for 2000 shall exceed (Pounds)2,400,000 by the amount of the 1999 Shortfall; provided that under this paragraph (b) the Third Instalment shall not exceed the amount of the 1999 Shortfall.
Third Instalment means an amount calculated in accordance with the ---------------- following formula: If the Adjusted Relevant Profits shall be (Pounds)3,255,000 or more then the Third Instalment shall be calculated as follows: -------------------------------------------------------------------------- Adjusted Multiple Incremental Third Instalment Relevant Profits Surplus Payment (Pounds)'000 (Pounds)'000 (Pounds)'000 -------------------------------------------------------------------------- (Pounds)3,255 4.63 (Pounds)659 (Pounds)659 -------------------------------------------------------------------------- (Pounds)3,469 4.51 (Pounds)574 (Pounds)1,233 -------------------------------------------------------------------------- (Pounds)3,690 4.37 (Pounds)480 (Pounds)1,713 -------------------------------------------------------------------------- (Pounds)3,906 4.23 (Pounds)397 (Pounds)2,110 -------------------------------------------------------------------------- (Pounds)4,127 4.15 (Pounds)605 (Pounds)2,715 -------------------------------------------------------------------------- (Pounds)4,347 4.10 (Pounds)696 (Pounds)3,411 -------------------------------------------------------------------------- If the Adjusted Relevant Profits shall fall between any two sums (the "lower sum" and "higher sum") in column 1 in the table above, the --------- ---------- Third Instalment shall be calculated by:-
Third Instalment means, in relation to a Ship, the third instalment paid by the relevant Owner to the Builder under the Shipbuilding Contract for that Ship, in the sum of US$4,834,390;