Third Payment definition

Third Payment as defined in Section 2.6(b).

Third Payment shall have the meaning specified in Section 2.1 herein.

Third Payment. Liberty currently intends, following the closing of the Second Offering, to conduct a public offering or offerings and sale of its equity securities and otherwise arrange a debt and/or equity package, which raises the money necessary to build the Ethanol Refinery (herein collectively called the “Public Offering”). Liberty shall pay to REC, as Trustee, ten percent (10%) of the gross cash proceeds received by Liberty in the Public Offering, up to a maximum amount of $350,000 plus the amount by which the aggregate amount paid by Liberty to the REC Parties under paragraph 3(b) above was less than $150,000. Such money shall be payable only when, as, and if Liberty closes the Public Offering. Counsel for Liberty shall keep counsel for REC Parties reasonably informed of the commencement of the Public Offering and its anticipated closing, including updates if events materially alter anticipated timetables previously given.

Examples of Third Payment in a sentence

• For the avoidance of doubt, the Floating Rate II Payer Payment Date shall apply to the Floating Rate II Payer First Payment, the Floating Rate II Payer Second Payment, the Floating Rate II Payer Third Payment and the Floating Rate II Payer Fourth Payment.

• This Agreement shall terminate automatically without any further notice being served by either you or the Owner or the Site if you have not made payment of the Second Payment and the Third Payment in cleared funds as per the schedule, provided that you have not agreed with the Owner in writing through the Site to delay payment and notified the Site of any such agreement.

• Supernumeraries allowed for in this Agreement shall only be permitted if their identity, role and requirements are acceptable to the Owner and have been agreed in writing by the Owner by the time that the Third Payment is due.

• If, however, you cancel this Agreement after you have made the Third Payment (as defined below at Clause12.1.2), the Owner will make the Yacht available for booking via the Site (" Site Re-Letting") if it is reasonably practicable to do so and shall account to you for the net proceeds (if any) of any Site Re-Letting up to a maximum of the amount equal to the sums that you have paid to the Site pursuant to this Agreement, less any reasonable expenses incurred by the Owner or the Site.

• If the Delivery Date is less than 90 calendar days from the date of this Agreement then you are required to make the Second Payment (as defined below) within 48 hours of the Acceptance, subject to Clause5.2. You are required to make the Third Payment in accordance with Clause 12.1.2.

More Definitions of Third Payment

Third Payment. Section 2.5(a)(iii) “Training Event” Section 3.2(d)(vi) “Transaction” Recitals

Third Payment means $35,000,000, which shall be paid by the Purchasers on the Third Purchaser Payment Date in accordance with Section 2.03(a)(iii).

Third Payment means $50,000,000, which shall be paid by the Purchasers on the Third Purchaser Payment Date in accordance with ‎Section 2.03(a)(iii).

Third Payment has the meaning specified in Section 3.4(c).

Third Payment shall have the meaning set forth in Clause 2.4.

Third Payment two hundred thousand dollars ($200,000), paid in the second year of this Agreement, which shall be due within thirty (30) days of the one year anniversary of the Effective Date; and

Third Payment means the payment set out in Schedule 3 to be made by EnTrade to the Owner once the Delivery of the Project has been Verified in accordance with clause 7.