Common use of First Additional Payment Clause in Contracts

First Additional Payment. An additional payment of $250,000 (together with the additional payment described in Section 2.1(b)(iii) below, individually and collectively referred to herein as an “Additional Payment”) for the Purchased Receivables shall be payable to Seller after receipt by the Purchaser of the Final 2015 Royalty Report in the event the First Additional Payment Condition is met. If the First Additional Payment Condition is not met, no Additional Payment shall be clue or payable in connection with the 2015 Royalty Year. Such Additional Payment, if due, shall be paid to Seller within 30 days of Purchaser’s receipt of the Final 2015 Royalty Report.

First Additional Payment. An additional payment of $250,000 (together with the additional payment described in Section 2.1(b)(iii) below, individually and collectively referred to herein as an “Additional Payment”) for the Purchased Receivables shall be payable to Seller after receipt by the Purchaser of the Final 2015 2016 Royalty Report in the event the First Additional Payment Condition is met. If the First Additional Payment Condition is not met, no Additional Payment shall be clue due or payable in connection with the 2015 2016 Royalty Year. Such Additional Payment, if due, shall be paid to Seller within 30 days of Purchaser’s receipt of the Final 2015 2016 Royalty Report.