Initial Settlement. On the third Trading Day immediately following the Purchase Date (the “Initial Settlement Date”), Citibank shall deliver to the Company, a number of Shares equal to the product of (i) 85% and (ii) the Number of Shares (the “Number of Initial Shares”), upon payment by the Company of the Purchase Price in U.S. dollars.
Initial Settlement. On the third Trading Day immediately following the Purchase Date (the “Initial Settlement Date”), Bank shall deliver to the Company, a number of Shares equal to the product of (i) 85% and (ii) the Number of Shares (the “Number of Initial Shares”), upon payment by the Company of the Purchase Price in U.S. dollars.
Initial Settlement. On the Effective Date of this Agreement, the Ceding Company agrees to pay the Reinsurer an initial settlement equal to $38,684,054. This amount is to be withheld by the Ceding Company in accordance with Article 5. This settlement is comprised of the following amounts:
Initial Settlement. Completion shall take place on the Completion Date at the offices of the Purchasers solicitors Lowndes Jordan at 2.15 p.m. or at such other time or place as the parties shall agree at which time the Purchaser shall be entitled to the possession of the business conducted by the Company and the Vendors will hand to the Purchaser:
Initial Settlement. With respect to any portion of the Offered Shares to be purchased and sold hereunder at each Time of Delivery, Credit Suisse First Boston Corporation ("CSFBC"), on behalf of the International Underwriters, may elect to have ADSs in respect of such Shares delivered and paid for hereunder in lieu of, and in satisfaction of the Selling Shareholder's obligation to sell to the several International Underwriters and the several International Underwriters' obligation to purchase, such Shares. Notice of such election with respect to any Time of Delivery shall be given in writing by CSFBC, on behalf of the International Underwriters, to the Selling Shareholder prior to the Notification Time (as hereinafter defined) with respect to such Time of Delivery. The purchase price for each ADS so delivered in lieu of any Firm Shares (the "ADS Purchase Price") is equal to the sum of US$___ and the US$ equivalent (as determined and payable in accordance with the Trust Deed and the Interim Deposit Agreement) of NZ$___ per ADS, less underwriting discounts equal to US$_____ per ADS and the purchase price per ADS for any ADSs so delivered in lieu of any Optional Shares shall be the ADS Purchase Price less such underwriting discounts. The ADS Purchase Price shall be payable in instalments consisting of a first instalment of US$___ per ADS (the "First ADS Instalment") less underwriting discounts equal to US$_____ per ADS and a final instalment of the US$ equivalent of NZ$____ per ADS (the "Final ADS Instalment") as determined and payable in accordance with the Trust Deed and Interim Deposit Agreement. Payment of the First Instalment for the Offered Shares, and the First ADS Instalment in the case of any such Shares taken in the form of ADSs, shall be made at each Time of Delivery and the Final Instalment for such Shares shall be payable as set forth in the Trust Deed and Interim Deposit Agreement (the "Final Instalment Due Date"). With respect to each Time of Delivery, the Shares, in the form of IRs, to be acquired by each of the International Underwriters hereunder at such Time of Delivery and, if an election has been made in accordance with the preceding paragraph, one or more Interim ADRs evidencing the Interim ADSs to be acquired by each International Underwriter at such Time of Delivery, shall be delivered by or on behalf of the Selling Shareholder, as described in the next succeeding paragraph, against payment by CSFBC, on behalf of the International Underwriters, for each Sh...
Initial Settlement. The initial settlement shall be equal to the initial ------------------- reinsurance premium less the initial reserve adjustment.
Initial Settlement. On the Closing Date, Commerce shall pay to Xxxxx ninety (90) percent of the Estimated Net Cash Settlement Amount by wire transfer of immediately available funds to an account(s) designated in writing by Xxxxx. Commerce shall pay the remaining ten (10) percent balance of the Estimated Net Cash Settlement Amount to Xxxxx on the next business day after the Closing Date; provided, that Commerce shall deduct from, or add to, such payment, as the case may be, the net amount by which the balance of the Assumed Deposits and the Purchased Loans used in determining the Estimated Net Cash Settlement Amount does not accurately reflect the balance of the Assumed Deposits and the Purchased Loans as of the Effective Time as a result of any error or inaccuracy in the books and records of Xxxxx as reflected on the electronic data file and listings delivered to Commerce on the Closing Date pursuant to Section 10.7.
Initial Settlement. Upon entering into this Agreement, the Ceding Company and the Reinsurer shall make a settlement for the 12-month period starting from the Effective Date of this Agreement (the "Calculation Period") as follows:
Initial Settlement. A. Sun World will seek and obtain approval from the Bankruptcy Court in which its current chapter 11 case is pending (the "Court"), pursuant to Bankruptcy Rule 9019, of a settlement of claims by and against Cadiz (the "Initial Settlement").(1) The Initial Settlement shall be binding on Sun World's estates and creditors and shall provide that, in full and final settlement of all Sun World estates claims and causes of action against Cadiz (including without limitation any possible avoidance actions under Chapter 5 of the Bankruptcy Code) and all of Cadiz's claims and causes of action against the Sun World estates (including without limitation claims for rejection damages) (the "Cadiz Claim"), Cadiz shall be granted an allowed, general unsecured claim against Sun World in an amount not less than $13 million(2) (the "Allowed Cadiz Claim").
Initial Settlement. On the first Trading Day immediately following the Pricing Period Commencement Date, Dealer shall deliver the Number of Initial Shares to the Company, upon payment by the Company of the Purchase Price in U.S. dollars.
