Initial Transfer. For good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, on the Closing Date, Chrysler shall transfer to LLC $50,000,000 in immediately available funds without condition or deduction for any defense, recoupment, set off or counterclaim (the “Initial Transfer”) and hereby commits to transfer to LLC, subject only to the satisfaction by UST of its obligations set forth in section 6.5 hereof and the approval of the Bankruptcy Court presiding over the Cases, an additional $550,000,000 in immediately available funds without condition or deduction for any defense, recoupment, set off or counterclaim on or prior to May 22, 2009 (the “Second Transfer”).
Appears in 4 contracts
Samples: Master Transaction Agreement, Master Transaction Agreement, Master Transaction Agreement
