The Total Amount Payable for Past Sales Sample Clauses

The Total Amount Payable for Past Sales. Lumenis represents and Palomar acknowledges that the amount payable to Palomar pursuant to this Section 4.3(a) for the period up to December 31, 2003 is three million, two hundred and twenty-five thousand dollars (US$3,225,000), excluding amounts payable by Lumenis to Palomar pursuant to the Settlement Agreement. Lumenis shall pay such amount to Palomar in six (6) equal installments of five hundred and thirty-seven thousand, five hundred dollars (US$537,500), payable on a quarterly basis. Such amount shall be non-creditable and non-refundable and there shall be no right of set-off with respect thereto. Lumenis shall make the first of the six payments within thirty (30) days after June 30, 2004, and each subsequent payment within thirty (30) days after the last day of each subsequent calendar quarter. No interest will be charged on such amounts unless Lumenis fails to make such payments when due, whereupon interest will accrue on any late payments as provided in Section 4.10.
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Related to The Total Amount Payable for Past Sales

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