Common use of Third Payment Clause in Contracts

Third Payment. Within ten calendar days after the Annual Determination for calendar year 2002 and any adjustments thereto have become binding on the parties as herein provided, if the 2002 PBT is greater than $10.0 million, a third payment of $2.5 million ("IP-3").

Third Payment. Within ten calendar days after the Annual Determination for calendar year 2002 2003 and any adjustments thereto have become binding on the parties as herein provided, if the 2002 2003 PBT is greater than $10.0 million15.0 million and the 2003 PBT Margin is greater than 10%, a third payment of $2.5 5.0 million ("IP-3").