Common use of Undertakings of the Parties Clause in Contracts

Undertakings of the Parties. Addax shall pay to ERHC by wire transfer of readily available funds, (i) no later than ten (10) days after the execution of this Agreement, the sum of Five Hundred Thousand US dollars (US$ 500,000), and (ii) no later than ten (10) days after the execution of the PSC in respect of Block 3 or the acquisition of the Assigned Interest by Addax, whichever is later, the sum of Seven Million US dollars (US$7,000,000).

Undertakings of the Parties. Addax shall pay to ERHC by wire transfer of readily available funds, (i) no later than ten (10) days after the execution of this Agreement, the sum of Five One Million Three Hundred and Fifty Thousand US dollars (US$ 500,0001,350,000), and (ii) no later than ten (10) days after the execution of the PSC in respect of Block 3 4 or the acquisition of the Assigned Interest by Addax, whichever is later, the sum of Seven Sixteen Million Six Hundred and Fifty Thousand US dollars (US$7,000,00016,650,000).