Common use of Payment of the Transfer Price Clause in Contracts

Payment of the Transfer Price. Subject to Xx Xxxxxxxx complying with his obligations under Clause 3, and on completion the Optionholder shall pay the Transfer Price in accordance with the following provisions: 5.1 The Transfer Price shall be payable in cash provided that the Optionholder may, at its option, satisfy up to a maximum of fifty per cent (50%) of the Transfer Price by the allotment and issue to Xx Xxxxxxxx of such number of fully tradable shares in the Optionholder as are of equal value (determined at the Exercise Date) to that part of the Transfer Price so satisfied as long as this action will not contravene US securities exchange commission rules at the time of the transaction. 5.2 The Optionholder shall pay the Initial Price on Completion or (if later) the date falling 10 months after the commencement of Xx Xxxxxxxx'x employment by the Company and subject to Xx Xxxxxxxx remaining an employee on that date. 5.3 If Xx Xxxxxxxx shall have entered into a contract of employment with the Optionholder in the form reasonably acceptable to the Optionholder which requires that Xx Xxxxxxxx serve the Optionholder as an employee for a period of not less than 10 months from the date of this Agreement and meets the agreed "Bonus Price" milestone, the Optionholder shall pay the Bonus Price on Completion or (if later) the date falling 10 months after the commencement of Xx Xxxxxxxx'x employment by the Company and subject to Xx Xxxxxxxx remaining an employee on that date. 5.4 If on Completion, the Option Shares represent the entire issued share capital of Companies A and Company B, the Optionholder shall immediately pay to Xx Xxxxxxxx the Total Control Price on Completion or (if later) the date falling 10 months after the commencement of Xx Xxxxxxxx'x employment by the Company and subject to Xx Xxxxxxxx remaining an employee on that date.

Payment of the Transfer Price. Subject to Xx Xxxxxxxx complying with his obligations under Clause 3, and on completion the Optionholder shall pay the Transfer Price in accordance with the following provisions: 5.1 The Transfer Price shall be payable in cash provided that the Optionholder may, at its option, satisfy up to a maximum of fifty per cent (50%) of the Transfer Price by the allotment and issue to Xx Xxxxxxxx of such number of fully tradable shares in the Optionholder as are of equal value (determined at the Exercise Date) to that part of the Transfer Price so satisfied as long as this action will not contravene US securities exchange commission rules at the time of the transaction. 5.2 The Optionholder shall pay the Initial Price on Completion or (if later) the date falling 10 months after the commencement of Xx Xxxxxxxx'x employment by the Company and subject to Xx Xxxxxxxx remaining an employee on that date. 5.3 If Xx Xxxxxxxx shall have entered into a contract of employment with the Optionholder in the form reasonably acceptable to the Optionholder which requires that Xx Xxxxxxxx serve the Optionholder as an employee for a period of not less than 10 months from the date of this Agreement and meets the agreed "Bonus Price" milestone, the Optionholder shall pay the Bonus Price on Completion or (if later) the date falling 10 months after the commencement of Xx Xxxxxxxx'x employment by the Company and subject to Xx Xxxxxxxx remaining an employee on that date. 5.4 If on Completion, the Option Shares represent the entire issued share capital of Companies A and Company B, the Optionholder shall immediately pay to Xx Xxxxxxxx the Total Control Price on Completion or (if later) the date falling 10 months after the commencement of Xx Xxxxxxxx'x employment by the Company and subject to Xx Xxxxxxxx remaining an employee on that date. 5.5 on completion of the first sale of the Nucleation/Condensation product as referred to in the definition of Transfer Price in clause 1 and that uses the technologies, Xx Xxxxxxxx is to be immediately paid 2,000,000 pounds sterling as in clause 5.1 5.6 On Completion of the first sale of a bio product as referred to in the definition of Transfer Price in clause 1 and that uses the Bio- Detection technologies or on the sale of a second molecular product that uses the Molecular- Detection technologies, whichever is the first event, the Optionholder shall immediately pay to Xx Xxxxxxxx the sum of 2,000,000 pounds sterling as in clause 5.1. 5.7 Should Optionholder fail to meet the payment schedule any IPR , share certificates and other documents of title in respect of Option Shares held by the Optionholder in either Company A or Company B will be returned to Xx Xxxxxxxx. Monies (both cash and shares) paid for shares and IPR in Company A and Company B as in the Transfer price (ii) will be returned to the Company. Monies (both cash and shares) paid as in the Transfer price (i) and (iii) to Xx Xxxxxxxx will remain with Xx Xxxxxxxx. Each party will be fully responsible for their own taxation liabilities.

Payment of the Transfer Price. Subject to Xx Xxxxxxxx complying with his obligations under Clause 3, and on completion the Optionholder shall pay the Transfer Price in accordance with the following provisions: 5.1 The Transfer Price shall be payable in cash provided that the Optionholder may, at its option, satisfy up to a maximum of fifty per cent (50%) of the Transfer Price by the allotment and issue to Xx Xxxxxxxx of such number of fully tradable shares in the Optionholder as are of equal value (determined at the Exercise Date) to that part of the Transfer Price so satisfied as long as this action will not contravene US securities exchange commission rules at the time of the transaction. 5.2 The Optionholder shall pay the Initial Price on Completion or (if later) the date falling 10 months after the commencement of Xx Xxxxxxxx'x employment by the Company and subject to Xx Xxxxxxxx remaining an employee on that date. 5.3 If Xx Xxxxxxxx shall have entered into a contract of employment with the Optionholder in the form reasonably acceptable to the Optionholder which requires that Xx Xxxxxxxx serve the Optionholder as an employee for a period of not less than 10 months from the date of this Agreement and meets the agreed "Bonus Price" milestone, the Optionholder shall pay the Bonus Price on Completion or (if later) the date falling 10 months after the commencement of Xx Xxxxxxxx'x employment by the Company and subject to Xx Xxxxxxxx remaining an employee on that date. 5.4 If on Completion, the Option Shares represent the entire issued share capital of Companies A and Company BA, the Optionholder shall immediately pay to Xx Xxxxxxxx the Total Control Price (initial payment) on Completion or (if later) the date falling 10 months after the commencement of Xx Xxxxxxxx'x employment by the Company and subject to Xx Xxxxxxxx remaining an employee on that date.