First Payment Amount definition

First Payment Amount. The term “First Payment Amount” shall mean: (i) in the event that the Closing Date Appraised Value is equal to or greater than the Target Value, the First Payment Amount shall be an amount equal to $1,023,669.60; (ii) in the event that the Closing Date Appraised Value is less than the Target Value but greater than the Threshold Value, the First Payment Amount shall be equal to the Closing Date Appraised Value less the Threshold Value; (iii) in the event that the Closing Date Appraised Value is less than the Threshold Value, the First Payment Amount shall be equal to zero.

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First Payment Amount means US$165,764,709, which is equal to the present value of US$200 million payable on February 1, 2011 calculated as of February 12, 2009 applying a discount rate of 10% per annum;

First Payment Amount has the meaning set forth in Section 2.6(a).

Examples of First Payment Amount in a sentence

The aggregate purchase price to be paid by the Purchaser to the Seller for the Intellectual Property shall be the sum of the First Payment Amount and the Second Payment Amount, payable in accordance with Section 4.02 hereof.
Purchaser shall pay the Purchase Price in two installments, with the First Payment Amount due and payable to Seller on the First Payment Date, and the Second Payment Amount due and payable to Seller on the Second Payment Date.
If Purchaser fails to timely pay the First Payment Amount, then Seller may immediately terminate this Agreement without any liability to Purchaser.
Interest payable on the First Payment Amount will be calculated as if the First Payment Amount would have been payable ratably over the first six months after the Separation Date and accrue on each such deemed ratable payment from the date such payment would have been paid (if it had been paid ratably).
Upon payment of the First Payment Amount, the Principal Amount shall be reduced by the First Payment Amount.
If Purchaser fails to timely pay the First Payment Amount on the First Payment Date (upon satisfaction or waiver of the First Payment Conditions Precedent), then Seller may immediately terminate this Agreement without any liability to either Party.
In the event that Swiftcall E&S's Indebtedness plus VIP's indebtedness to IDX and to Acquiror on the Closing Date is less than $1,815,000, the difference between the amount and $1,815,000 shall be added to the First Payment Amount (or Alternative Payment, as applicable).
Thereafter, if and when an extension of orphan exclusivity of two (2) years for the PBC Product is received from the MHRA, Licensor shall provide Licensee notice that such extension has been granted and Licensee shall calculate US$45,000,000 less the EU First Payment Amount (the “MHRA Second Payment Amount”).
Interest will accrue on the First Payment Amount at a rate, per annum, equal to the applicable federal short-term rate (compounded monthly) in effect under Section 1274(d) of the Internal Revenue Code of 1986, as amended, on the Separation Date.
Licensee shall pay the EU First Payment Amount to Licensor in cash and cleared funds as set forth in Section 7.5 no later than thirty (30) days of the Licensee being provided notice by Licensor that such EMA extension has been granted (which notice shall act as an invoice for this payment).

More Definitions of First Payment Amount

First Payment Amount means an amount no less than eleven million and nine hundred thousand Dollars (US$11,900,000) paid by Thermo to the Interim Escrow Account and which will be:

First Payment Amount means $400,000,000.

First Payment Amount means USD 34,076,274.63.

First Payment Amount means $336,000,000.