Fifth Installment. Up to an additional 20% of the total Stock Options at any time following the fifth anniversary of the Date of Grant.
Fifth Installment. The Fifth Installment amounting to Two Hundred and Forty Two Million Nine Hundred Forty Eight Thousand United States Dollars (40%, US$ 242,948,000) plus or minus any adjustment of the Contract Price under and pursuant to the provisions of this Contract, shall be due and payable upon delivery of the DRILLSHIP or upon tender for delivery of the DRILLSHIP referred to in Paragraph 4 of Article VII of this Contract.
Fifth Installment. At least three (3) banking days prior to the anticipated delivery date of the DRILLSHIP, the BUYER shall remit by telegraphic transfer the fifth installment to the bank specified in advance in writing by the BUILDER in the name of the BUYER'S bank with instructions of the amount so remitted to be payable to the BUILDER against a copy of PROTOCOL OF DELIVERY and ACCEPTANCE OF THE DRILLSHIP signed by the BUYER and the BUILDER. Simultaneously with each of all such payment, the BUYER shall cause the BUYER'S BANK to advise the BUILDER'S BANK of the details of such payments by authenticated bank cable or telefax. No payment due under this Contract shall be delayed, suspended or withheld by the BUYER on account of any dispute or disagreement between the parties hereto. Any claim that the BUYER may have against the BUILDER hereunder shall be settled and liquidated separately from any payment by the BUYER to the BUILDER hereunder.
Fifth Installment. If the Net Profits of Jiangsu Guanzhilin reach the Operating Profit Index as defined herein and in the Operation and Management Agreement according to the audit report for the Second Audited Year, then within 10 days after the auditor completes its audit of Jiangsu Guanzhilin for the Second Audited Year (the calendar year 2010) and delivers its audit report, the Acquirer shall make a deposit in the amount of ****** of the Acquisition Consideration (RMB ******). The audit report shall be delivered no later than March 15, 2011. If the audit report is delayed because of the reasons set forth in Article 16 of this Agreement and Article 3.7 of the Supplemental Agreement to the Equity Transfer Agreement, the Acquirer’s failure to timely pay the fifth installment shall not be deemed as a delayed payment of the Acquisition Consideration.
Fifth Installment. If the Net Profits of Newco reach the Operating Profit Index as defined herein and in the Operation and Management Agreement according to the audit report for the Second Audited Year, then within 10 days after the designated auditor completes its audit of Newco for the Second Audited Year and delivers its audit report, the Acquirer shall make a deposit in the amount of ****** of the Acquisition Consideration (RMB ******). The audit report shall be delivered no later than 75 days after the expiration of the most recent audit period (December 31 or March 31) for the Second Audited Year.
Fifth Installment. Within 10 days after the designated auditor completes its audit of Newco for the Second Audited Year and issues its audit report determining that the Net Profits of Newco for such period reaches the Operating Profit Index as defined herein and in the Operation and Management Agreement, the Acquirer shall make a deposit of ****** of the Acquisition Consideration (RMB ******). The deadlines for issuing the audit reports in this Article are the same as those specified in Article 8.
Fifth Installment. On or before October 31, 2008, Benchmark will pay and contribute to IEVM, via wire transfer, Five Hundred Thousand Dollars ($500,000) (the “Fifth Installment”). Promptly upon its receipt of the Fifth Installment, IEVM will (i) issue to Benchmark a stock certificate for an additional 5,000,000 shares of IEVM common stock, and (ii) initiate (pursuant to the terms of section 5 below and the Registration Rights Agreement referenced therein) a registration of the 10,000,000 Shares issued to Benchmark following its payment of the Fourth and Fifth Installments.
Fifth Installment. The amount of the fifth Installment shall be determined as follows: (i) consolidated EBITDA of the Group during the Fourth Quarter minus (ii) consolidated Taxes of the Group incurred during the Fourth Quarter, plus (iii) consolidated expenses on new projects initiated by the Group and its management and paid by the Group during the Fourth Quarter, minus (iv) the amount of 60 (sixty) days overdue accounts receivables of the Group as at the end of the fourteenth calendar month after the Final Closing Date, plus (v) the amount of 60 (sixty) days overdue accounts receivables of the Group as at the beginning of the tenth calendar month after the Final Closing Date, multiplied by 1.35. The fifth Installment shall be comprised of two (2) components: (i) cash in the amount of 50% of aggregate amount of the fifth Installment and (ii) Consideration Shares with a value equal to 50% of aggregate amount of the fifth Installment (the number of the Consideration Shares shall be determined based on the price per one (1) share of NETE Stock reported on The NASDAQ Capital Market on the last trading day immediately preceding the Deferred Payment Date for the fifth Installment). If the Financial Results exceeds Seven Hundred and Forty Three Thousand US Dollars (US $743,000), then the fifth Installment shall be increased by the amounts, which the Sellers haven’t received in terms of previous Installments (first to forth Installments) due to change (if any) from “simplified” taxation system under the local laws the Target Companies listed in Part B of Exhibit B used before the transfer of the Interests to the Purchasers to the “regular” taxation system under the local laws for such Target Companies, and the fifth Installment as well as the Extra Payment (as provided in Section 2.7.5 below) shall be calculated as if the said change in taxation system had not occurred. “Financial Results” shall mean (i) consolidated EBITDA of the Group during the twelve (12) months period from the Final Closing Date minus (ii) consolidated Taxes of the Group incurred during the twelve (12) months period from the Final Closing Date, plus (iii) consolidated expenses on new projects initiated by the Group and its management and paid by the Group during the twelve (12) months period from the Final Closing Date, minus (iv) the amount of 60 (sixty) days overdue accounts receivables of the Group as at the end of the twelve (12) months period from the Final Closing Date, plus (v) the amount of 60 (sixty)...
Fifth Installment. Seventy per cent (70%) of the CONTRACT PRICE amounting to [ ] plus or minus any increase or decrease due to modifications and/or adjustment, if any, arising prior to delivery of the VESSEL of the CONTRACT PRICE under Articles III and V of this CONTRACT shall be paid to the BUILDER upon delivery of the VESSEL. (The date stipulated for payment of each of the five installments mentioned above is hereinafter in this Article and in Article XI referred to as the “DUE DATE” of that installment). It is understood and agreed upon by the BUILDER and the BUYER that all payments under the provisions of this Article shall not be delayed or withheld by the BUYER due to any dispute or disagreement of whatsoever nature arising between the BUILDER and the BUYER. Should there be any dispute in this connection, the matter shall be dealt with in accordance with the provisions of arbitration in Article XIV hereof.
Fifth Installment. At the time of delivery of the Vessel to the OWNER pursuant to Section 2 of Article VII of this Contract, the OWNER shall remit by telegraphic transfer the fifth installment to the account at the BUILDER's BANK in favor of Hyundai Heavy Industries, Co., Ltd., with an irrevocable instruction that the amount so remitted shall be payable to the BUILDER against presentation by the BUILDER to the BUILDER's BANK of a copy of PROTOCOL OF DELIVERY and ACCEPTANCE OF THE VESSEL executed by the OWNER and the BUILDER. No payment due under this Contract shall be delayed, suspended or withheld by the OWNER on account of any dispute or disagreement between the parties hereto. Any claim which the OWNER may have against the BUILDER hereunder shall be settled and liquidated separately from any payment by the OWNER to the BUILDER of the Contract Price hereunder.
