First Option Payment definition

First Option Payment means the sum of the Project First Option Payments for those Eligible Properties not rejected during the Feasibility Period in accordance with the terms of this Agreement, plus interest, if any, earned thereon.

First Option Payment has the meaning set forth in section 2.5(a);

First Option Payment means the sum of $1,500,000 payable by RPR to ABI as specified in Section 2.2 hereof.

Examples of First Option Payment in a sentence

• The First Option Payment shall be deposited by Escrow Holder in an interest bearing account with a federally insured national bank.

• Interest earned on the First Option Payment shall be considered part of the First Option Payment.

• Within one (1) Business Day after the Effective Date, the parties hereto shall open an escrow (“Escrow”) by depositing with Escrow Holder (i) a fully executed copy of this Agreement, (ii) Optionee’s deposit of the First Option Payment, (iii) a fully executed and notarized original Memorandum of Option for each Eligible Owned Property, and (iv) a fully executed and notarized original Termination of Option for each Eligible Owned Property.

• For greater certainty, if YC elects to exercise its right to further extend the Expiry Date pursuant to this section 2.5(b), the First Option Payment and the Second Option Payment shall continue to be held in escrow pursuant to the Payment Undertaking and in no way shall become due and payable in cash.

• If the Purchasers timely pay the First Option Payment but fail to pay the Second Option Payment on or before the due date thereof, the Purchasers shall forfeit their right to acquire the Second One-Half Interest.

More Definitions of First Option Payment

First Option Payment means Six Hundred Thousand United States Dollars (USD600,000), which will be satisfied by the issuance of Akanda Shares in the name of the Owner in accordance with this Agreement;

First Option Payment has the meaning provided in the Governance Agreement.

First Option Payment means the First Option Payment as defined in the Option Cancellation Agreement.

First Option Payment shall have the meaning set forth in Section 2.02.

First Option Payment shall have the meaning set forth in Section 2.2. -------------------- "GAAP" shall mean generally accepted accounting principles. ---- "Gross Margin" shall mean the Net Revenue minus the cost of the goods ------------- sold, calculated in accordance with GAAP, but for purposes of this definition and this Agreement, in no event shall the cost of goods sold include the Royalties due VADUS for such sales.

First Option Payment means the amount of $2,100,000 to be paid by BGL to PGR, or as directed by PGR, in instalments of $500,000 (which amount has already been paid) and $1,600,000 on the Closing Date;

First Option Payment means Six Hundred Thousand United States Dollars (USD600,000), which will be satisfied by the issuance of Axxxxx Xxxxxx in the name of the Owner in accordance with this Agreement;