Second Instalment. The second instalment equal to ten percent (10%) of the Contract Price amounting to United States Dollar Three Million Seven Hundred Thousand only (US$3,700,000) shall be due and payable upon the later of the steel cutting of the Vessel and within five (5) banking days after the receipt of the Builder’s confirmation that steel cutting has commenced and confirmed in writing by the Classification Society, which to be effected not earlier than twelve (12) months prior to delivery of the Vessel.
Second Instalment. Ten per cent (10%) of the CONTRACT PRICE amounting to U.S.Dollars Nine Million Two Hundred and Seventy Three Thousand Seven Hundred (US$ 9,273,700) shall be paid on the date falling six (6) months from the date of signing this CONTRACT.
Second Instalment. The second instalment amounting to US$4,125,000 representing ten (10%) of the Contract Price shall be due and payable and shall be paid on the first Banking Day that is twelve (12) months after the date of this Contract.
Second Instalment. Within five (5) banking days after the Buyer’s receipt of e-mail or telefax advice from the Builder that the steel cutting of the Vessel has been commenced and, in any case, not earlier than twelve (12) months prior to delivery, the Buyer shall remit by bank transfer by telex or cable the second instalment to the Bank in favour of the Builder payable against the Builder’s written statement endorsed by the Classification Society that the steel cutting of the Vessel has been completed.
Second Instalment. The sum of United States Dollars Sixty-Nine Million and Two Hundred Thousand (US$69,200,000) equivalent to 20% of the Contract Price shall be paid on or before 25 June 2016.
Second Instalment. (a) On the date that is 10 Business Days after each of the following conditions are satisfied and fulfilled (the “Second Instalment Payment Date”), the Payee shall advance to the Payor the second portion of the Funding Amount in the amount of $7,000,000 (the “Second Instalment Payment”):
(i) as of the end of the most recently completed calendar month end, the Parent Company shall have sufficient working capital to satisfy all of its obligations and liabilities due within a period of 12 months following the Second Instalment Payment Date, such working capital being calculated: (A) on a consolidated basis; (B) on the basis of unrestricted cash plus unrestricted cash equivalents less accounts payable and less accrued and other current liabilities and interest and principal repayments due in the 12 months following the Second Instalment Payment Date (excluding amounts already set aside in restricted cash); and (C) including the Second Instalment Payment;
(ii) the conditions set out in Sections 3.2(a)(iv) through 3.2(a)(viii) shall have been satisfied and remain satisfied as of the Second Instalment Payment Date;
(iii) on or prior to the Second Instalment Payment Date, the Payor shall have executed and delivered to the Payee the Security and shall have made, or arranged for, all such registrations, filings and recordings of the Security, and shall have done all such other acts and things as may be necessary or advisable to create, perfect or preserve the Security in accordance with Section 9.1 (including lodging the relevant financing statements in relation to the General Security Agreement on the PPSR and registering the Mortgage against the Mining Titles in accordance with the Mineral Titles Act), and the Mortgage shall constitute a valid and enforceable first ranking charge over the Mining Titles, subject to Permitted Encumbrances, and the General Security Agreement shall constitute a first ranking Encumbrance over all present and after acquired property of the Payor, subject to Permitted Encumbrances, and the Payee shall have received evidence satisfactory to it of each such filing, registration or recordation and satisfactory evidence of the payment of any necessary fee, Tax or expense relating thereto;
(iv) the Payor shall have delivered to the Payee opinions, in form and substance satisfactory to the Payee, acting reasonably, from external legal counsel as to, among other things: (A) the power, capacity and authority of the Payor to execute, deliver an...
Second Instalment. 15.2.1. An increase in base rates of 4% (as per column Rate Increase 2 at Appendix B), will be made from the beginning of the first full pay period in November 2007.
15.2.2. Payment of this instalment is linked to the development and approval of a Code of Conduct (‘the Code’) (clause 9). Implementation shall be deemed to have occurred when Management endorses the Code and a valid majority of employees (75% of employees employed at the Centre) vote in support of the Code.
Second Instalment. 5 per cent increase in the salaries prescribed for all Employees covered by the Agreement, as set out in Schedule 1 shall be effective from 01/07/2021 (“Second Instalment”).
Second Instalment. A 1 per cent per annum increase in wages shall be granted to all employees of Swan Hill Rural City Council, as from the first full pay period to commence on or after 1 July 2022.
Second Instalment. Remaining amount of 15% of the order value shall be paid after satisfactory installation of equipments and execution of Performance Guarantee for proper maintenance during warranty period as mentioned at Clause
