PAYMENT OF AGREED TOTAL Sample Clauses

PAYMENT OF AGREED TOTAL. The Chargors hereby irrevocably and unconditionally, jointly and severally undertake and covenant to pay to the Chargees the Agreed Total by the following instalments and in such manner as the Parties may agree in writing:- 2.2.1 The first instalment of S$7,200,000 shall be paid by the Chargors to the Judicial Managers on the Completion Date. 2.2.2 The second instalment of S$6,028,405 shall be paid by the Chargors to the Judicial Managers within 90 days after the Completion Date ("Second Instalment Payment Date"), together with interests on the aforesaid sum of S$6,041,417 accruing at the rate of 6% per annum from the Completion Date up to and including the date of actual payment. 2.2.3 The third instalment of S$1,618,740 shall be paid by the Chargors to the Judicial Managers on or before 31 May 2000, together with interests on the aforesaid sum of S$1,618,740 accruing at the rate of 6% per annum from the Completion Date up to and including the date of actual payment. All interests payable hereunder shall be calculated on the basis of a 360-day year. For the avoidance of doubt, the Parties hereby confirm that the Chargors may prepay any of the aforesaid sums before their respective due dates.
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Related to PAYMENT OF AGREED TOTAL

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