First interim payment Sample Clauses

First interim payment. Requests for the first interim payment by the Contractor shall be admissible if accompanied by: the inception report in accordance with the instructions laid down in Annex I; the relevant invoice; provided the report has been approved by the Commission. The Commission shall have 20 days from receipt to approve or reject the report, and the Contractor shall have 20 days in which to submit additional information or a new report. Within 30 days of the date on which the document is approved by the Commission, a first interim payment corresponding to [EUR complete amount in figures and in words] equal to 35 % of the total amount referred to in Article I.3. shall be made.
Sample 1
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First interim payment. At the end of the period indicated in the request for services (Annex 1), the Contractor may claim an interim payment corresponding to 20 % of the total amount specified in Article 3.1. The Contractor shall send the Agency an invoice to xxxxxxxx@xxx.xxxxxx.xx for the interim payment accompanied by the following documents: - a list of all pre-existing rights to the results or parts thereof or a declaration stating that there are no such pre-existing rights, as provided for in Article II.7.6 of the framework contract; - the first interim project report as specified in Annex 1; The Agency shall have 60 (sixty) calendar days from receiving any submitted documents to approve them and to pay the invoice for interim payment. If the Agency has observations to make within that period of scrutiny, it shall send them in writing to the Contractor and suspend the time limit for payment in accordance with Article II.15.5 of the framework contract. The Contractor shall have 15 (fifteen) calendar days to submit additional documents or information or a new version of the documents if the Agency requires it. The Agency shall give its approval and pay the invoice for interim payment within the remainder of the period of scrutiny mentioned above, unless it rejects partially or fully the submitted documents.
Sample 1
First interim payment. Requests for the first interim payment by the Contractor shall be admissible if accompanied by: • the methodological report as in accordance with the instructions laid down in Annex I; • the relevant invoice
Sample 1
First interim payment. Provided that WWG shall not have validly made a FIP Prepayment Election (as defined in Section 2.1.1(h) below), within five business days after the Annual Determination for calendar year 2010 and any adjustments thereto shall have become binding on the parties as provided in Section 2.1.4 below, the Purchaser shall pay to WWG the First Interim Payment ("FIP"), calculated as follows: FIP shall equal the lesser of:
Sample 1
First interim payment. Within five business days after the Annual Determination (as defined in Section 2.1.4(ii) below) for the Stub Period (as defined in Section 2.1.3(ii) below) and any adjustments thereto shall have become binding on the parties as provided in Section 2.1.4, the Purchaser shall pay to the Parent, on behalf of the Companies, the First Interim Payment ("FIP"), calculated as follows:
Sample 1
First interim payment. Requests for interim payment by the Contractor shall be admissible if accompanied by: • An interim report prior to shipboard testing in accordance with the instructions laid down in Xxxxx X] • the relevant invoices [provided the report has been approved by EMSA.] EMSA shall have twenty days from receipt to approve or reject the report, and the Contractor shall have ten days in which to submit additional information or a new report. Within 30 days of the date on which the report is approved by EMSA, an interim payment corresponding to [the relevant invoices][EUR complete amount in figures and in words] [equal to 30 % of the total amount referred to in Article I.3.1] shall be made.]
Sample 1
First interim payment payment of XX EUR [complete amount in figures and in words] equal to 10% of the amount mentioned in Article I.3. The request for payment by the Contractor shall be admissible if accompanied by: • Inception report and relevant annexes (D1, R1, Q1) • First Interim report and relevant annexes (D2, DB1, R2, Q2) • Relevant invoice • Evidence that the reports have been approved by EIGE.
Sample 1
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Related to First interim payment

  • Interim Payment At the end of each of the periods indicated in Annex I the Contractor shall submit to the Agency a formal request for payment accompanied by those of the following documents which are provided for in the Special Conditions: ➢ an interim technical report in accordance with the instructions laid down in Xxxxx X; ➢ the relevant invoices indicating the reference number of the Contract and of the order or specific contract to which they refer;

  • Earn-Out Consideration (a) If the earnings before taxes (the "EBT") of the Company for the twelve months ending December 31, 1998, increased by amounts in respect of those items set forth on Schedule 2.5 that affected net income during the period from January 1, 1998 through the Closing Date and decreased by the amount of UniCapital corporate overhead allocated to the Company for the period from the Closing Date through December 31, 1998 (the "Adjusted 1998 EBT"), exceeds the EBT of the Company for the twelve months ending December 31, 1997, inclusive of the add-backs set forth on Schedule 2.5 (the "Adjusted 1997 EBT"), then the Stockholders shall be entitled to receive one-half of the difference between the Adjusted 1998 EBT and the Adjusted 1997 EBT.

  • Earn-Out Payment On or before each of September 15, 2003 and September 15, 2004, Buyer shall calculate the Revenue (as defined below) for the prior twelve (12) month period ending July 31 (each an "Earn Out Period") attributable to the Business, and deliver a notice of the calculation (together with the details of such calculation, including a line item for each element thereof) to Seller. As used in this Agreement, the "Business" means the products sold (together with services provided in connection therewith) by Company at the time of Closing (without regard to product name changes or the like) and listed on Schedule 1.2(b) (solely for purposes of this Section 1.2, the "Products"), and each subsequent version of any such software product introduced during the Earn Out Periods. The Revenue shall be calculated in accordance with generally accepted accounting principles, applied on a consistent basis and consistent with past Company practices (including practices relating to foreign currency conversion), subject to the adjustments set forth in paragraph (c) below. In the event the Revenue for the one-year period ending on July 31, 2003 is greater than $7,295,851 (the "First Threshold"), One Million Dollars ($1,000,000) (the "First Earn Out Payment") of the Purchase Price will be paid in cash to the Seller on September 15, 2003. In the event the Revenue for the one-year period ending July 31, 2004 is greater than $7,295,851 (the "Second Threshold"), an additional one million dollars ($1,000,000) (the "Second Earn Out Payment") of the Purchase Price will be paid in cash to the Seller on September 15, 2004. Neither the First Earn Out Payment nor the Second Earn Out Payment may be increased, decreased, or prorated. If either the First Earn Out Payment or the Second Earn Out Period is not earned with respect to the year to which it relates, it expires and cannot be paid in a later year regardless of Revenue in that later year. Except for the obligations of Buyer and Company set forth in Section 1.2(e), nothing herein shall in any way limit or restrict Buyer's or Company's business practices or decisions following the Closing, provided that those practices and decisions are not solely for avoiding payment of the Earn Out.

  • Post-Closing Payment Payment to Shareholder of his portion of the Post-Closing Payment shall be made in the same manner as payments under the Additional Short-Term Note.

  • Closing Payment At the Closing, Buyer will pay or cause to be paid to Seller the Closing Payment Amount, by wire transfer of immediately available funds or by such other means as may be agreed upon by Seller and Buyer.

  • Earnout Payment In addition to the Closing Payment Shares, if Madhouse meets certain performance requirements during a three-year performance period ending December 31, 2022 as set forth on Schedule II (the “Earnout Provisions”), then the Purchaser shall make the one-time payment (the “Earnout Payment”) determined in accordance with the Earnout Provisions, payable to the Seller and the long-term incentive plan (described below). As set forth in more detail in, and subject to, the Earnout Provisions, the Earnout Payment will be made in the form of (a) the Purchaser issuing to the Seller additional Purchaser Common Shares (the “Earnout Payment Shares”) in the amount calculated pursuant to the Earnout Provisions, (b) a cash payment, (c) a subordinated promissory note issued by the Purchaser to the Seller, or (d) a combination of the foregoing payment methods. The Earnout Payment shall be made by the Purchaser within five (5) Business Days after a final determination of payment due to the Seller pursuant to this Section 3.1. The Purchaser hereby covenants and agrees to perform its obligations set forth in the Earnout Provisions and to maintain the highest number of Purchaser Common Shares potentially issuable under the terms of the Earnout Provisions (which number shall not be less than 22,200,000) available for issuance with respect to Earnout Payment Shares without any restriction or limitation thereof, at all times after the Closing until all of the payment obligations set forth in the Earnout Provisions have been satisfied or have expired. The amount of the Earnout Payment (i) is subject to reduction as set forth in the Earnout Provisions and Article VIII and, (ii) as set forth in the Earnout Provisions, has been partially and irrevocably assigned by Seller to fund a long-term incentive plan to be established for the benefit of designated individuals employed by or associated with the Group Company business, in a manner that shall be determined in Seller’s discretion, provided that Seller shall not receive any portion of such assigned Earnout Payment.

  • Post-Closing Payments (a) On the first anniversary of the Closing Date, Buyer will pay to Seller or, to the extent designated by Seller in writing and in accordance with Section 3.11, to the Members in accordance with their respective Pro Rata Percentages, the remaining 33.33% of the Closing Cash Consideration, as finally determined in accordance with Section 3.4 (the “Deferred Cash Payment”), via wire transfer to the Seller’s Bank Account or the Member Bank Accounts, as applicable.

  • Earn-Out Payments (i) Promptly, but in any event within five (5) Business Days, after the Escrow Agent’s receipt of joint written instructions (“Earn-Out Payment Instructions”) from the DT Representative (on behalf of Purchaser) and the Seller Representative that for any Earn-Out Year there has been a final determination in accordance with Section 2.2 of the Share Exchange Agreement (but subject to Sections 2.4 and 2.5 of the Share Exchange Agreement) with respect to the Earn-Out Payment for such Earn-Out Year or the Alternative Earn-Out Payment (the date that the Escrow Agent receives Earn-Out Payment Instructions with respect to any Earn-Out Year, an “Earn-Out Release Date”), the Escrow Agent shall distribute Escrow Property from the Escrow Account in accordance with such Earn-Out Payment Instructions (A) to the Sellers in an amount equal to the Earn-Out Payment (excluding for the avoidance of doubt, the amount of any Accrued Dividends payable by the Purchaser separate from the Escrow Account) less the sum of (I) the Reserved Amount (as defined below) as of the date of such payment, and (II) the amount of any Indemnification Claims that have been paid from the Escrow Account prior to such time but have not previously been used to reduce the amount of any prior Earn-Out Payment (but net of any prior Earn-Out Payments that have not yet been paid and are still being retained in the Escrow Account as of such time for Indemnification Claims that are still Pending Claims as of such time), up to a maximum amount equal to such Earn-Out Payment, and (B), after the last Earn-Out Year only, to Purchaser any portion of any Earn-Out Payments that were not earned by the Sellers in accordance with the Share Exchange Agreement. For the determination of the Escrow Shares to be withheld for the Reserved Amount, the Escrow Shares shall be valued at the Purchaser Share Price as of the applicable Earn-Out Release Date.

  • Closing Payments At the Closing, Parent shall pay or cause to be paid the following amounts by wire transfers of immediately available funds:

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