First Closing Payment definition

First Closing Payment means an amount equal to the product of (a) an amount equal to the quotient of (i) First Closing Fund Assets, divided by (ii) Total Alliance Fund Assets, multiplied by (b) twenty-five million dollars ($25,000,000).

First Closing Payment has the meaning in Section 8.1.

First Closing Payment means the Estimated First Closing Purchase Price minus (a) the Adjustment Escrow Amount, minus (b) the Indemnity Escrow Amount.

Examples of First Closing Payment in a sentence

• Purchaser shall deliver the First Closing Payment to Seller by wire transfer of immediately available funds under Section 3.4(b).

• GSK shall pay the First Closing Payment to Welichem by electronic wire transfer into the trust account of Welichem’s Counsel in a British Columbia, Canadian bank within [***] after the First Closing; provided that GSK receives prior to the First Closing an Invoice from Welichem, accompanied by a letter from Welichem’s Counsel confirming that all conditions precedent to GSK’s obligations to close set forth in Section 5.3 have been satisfied.

• The First Closing Payment Certificate and the components thereof shall be prepared and calculated in good faith, and in the manner and on a basis consistent with the definitions hereof.

• Seller and Purchaser shall negotiate in good faith to agree upon such First Preliminary Settlement Statement; provided, however, if the Parties are unable to agree upon and approve such settlement statement prior to Closing, the settlement statement provided by Seller shall constitute the final First Preliminary Settlement Statement used to determine the final First Closing Amount and First Closing Payment.

• At First Closing, Purchaser shall pay such estimated First Closing Payment to Sellers’ bank account specified in Section 4.6(a).

More Definitions of First Closing Payment

First Closing Payment has the meaning set forth in Section 4.5(i).

First Closing Payment has the meaning set forth in Clause 2.3.1;

First Closing Payment means the Estimated First Closing Purchase Price minus (a) the Adjustment Escrow Amount, minus

First Closing Payment means Two Million Dollars ($2,000,000), all of which (the "Refundable Amount") shall be refundable in accordance with the terms of Section 9.2.

First Closing Payment means an amount equal to the product of (a) an amount equal to the quotient of (i) First Closing Fund Assets, divided by

First Closing Payment is defined in Section 2.3(a).

First Closing Payment means an amount equal to: