Fourth Instalment definition

Fourth Instalment means an amount which:

Fourth Instalment has the meaning ascribed thereto in Section 2.2(a)(iv) .

Fourth Instalment means the amount to be paid at the Fourth Instalment Payment Date.

Examples of Fourth Instalment in a sentence

• Upon the completion of the Commissioning of the Works provided in Appendix 1B to be carried out in the Yard, the Owner’s Representative and the Contractor’s Representative shall sign the Certificate of Vessel Leaving The Yard in the form set out in Appendix 10, whereupon (subject to the payment of the Fourth Instalment in accordance with Article 15.4d)) the care, custody and control of the Vessel shall pass from the Contractor to the Owner (“Vessel Leaving The Yard”).

• Within three (3) Banking Days after the Due Date of the Fourth Instalment the Buyer shall remit the Fourth Instalment by telegraphic transfer to the Seller’s Bank Account.

• The Fourth Instalment amounting to Six Million Three Hundred and Eighty Thousand United States Dollars (US$ 6,380,000.-) shall be due and payable upon keel laying of the VESSEL.

• Upon the completion of the Commissioning of the Works provided in Appendix 1B to be carried out in the Yard, the Owner’s Representative and the Contractor’s Representative shall sign the Certificate of Vessel Leaving The Yard in the form set out in Appendix 10, whereupon (subject to the payment of the Fourth Instalment in accordance with Article 13.4(d)) the care, custody and control of the Vessel shall pass from the Contractor to the Owner (“Vessel Leaving The Yard”).

• Repayment Date Amount (in percentage of all outstanding loan balance as at the expiry of the Availability Period) First Instalment 6 months from 1st drawdown USD500,000.- Second Instalment 12 months from 1st drawdown USD500,000.- Third Instalment 18 months from 1st drawdown USD500,000.- Fourth Instalment 24 months from 1st drawdown USD1,000,000.- Any amount of the Loan that is repaid cannot be re-drawn.

More Definitions of Fourth Instalment

Fourth Instalment means, the fourth instalment of the Contract Price to be paid by the Guarantor to the Seller under the Building Contract in the amount of $8,160,000 on launching of the Vessel;

Fourth Instalment. Has the meaning set out in Clause 2.3(d);

Fourth Instalment as defined in Clause 4.2.5;

Fourth Instalment means the sum of $125,000;

Fourth Instalment means, in relation to each Shipbuilding Contract, the fourth instalment of the relevant Contract Price payable by the Lessor to the Builder under Article 2.3 of such Shipbuilding Contract and described therein as the “Fourth Instalment”;

Fourth Instalment means the fourth instalment of the Option as defined in subsection 2.2(d);