The Payment Shares Clause Samples
The Payment Shares clause defines how payments or financial distributions are divided among the parties involved in an agreement. Typically, it specifies the percentage or proportion each party is entitled to receive from revenues, profits, or other monetary proceeds generated under the contract. For example, in a joint venture, this clause would outline what share of the profits each partner receives. Its core practical function is to ensure transparency and prevent disputes by clearly allocating financial entitlements among the parties.
The Payment Shares. On Closing the Payment Shares:
(a) will be issued to the Sellers as fully paid and non-assessable KBB Shares;
(b) will be duly registered in the names of the Sellers in the books and registers of KBB; and
(c) will be conditionally approved for listing and posting for trading on the Exchange, subject only to satisfying any conditions stipulated by the Exchange for listing.
The Payment Shares. On Closing or achievement of the milestones set out at Section 2.2, as the case may be, the Payment Shares:
(a) will be issued to the Sellers as fully paid and non-assessable WOLF Shares;
(b) will be duly registered in the names of the Sellers in the books and registers of WOLF; and
The Payment Shares. On Closing the Payment Shares:
(a) will be issued to the Sellers as fully paid and non-assessable MTEC Shares;
(b) will be duly registered in the names of the Sellers in the books and registers of MTEC; and
(c) will be conditionally approved for listing and posting for trading on the Exchange, subject only to satisfying any conditions stipulated by the Exchange for listing.
The Payment Shares. On Closing the Payment Shares:
(a) will be issued to the Vendor as fully paid and non-assessable Purchaser Shares;
(b) will be duly registered in the names of the Vendor in the books and registers of the Purchaser; and
(c) will be conditionally approved for listing and posting for trading on the Exchange, subject only to satisfying any conditions stipulated by the Exchange for listing.