Examples of Initial Payment in a sentence
On the Payment Date, the Assuming Bank will pay to the Corporation, or the Corporation will pay to the Assuming Bank, as the case may be, the Initial Payment, together with interest on such amount (if the Payment Date is not the day following the day of the Bank Closing Date) from and including the day following the Bank Closing Date to and including the day preceding the Payment Date at the Settlement Interest Rate.
On the Payment Date, the Assuming Institution will pay to the Corporation, or the Corporation will pay to the Assuming Institution, as the case may be, the Initial Payment, together with interest on such amount (if the Payment Date is not the day following the day of the Bank Closing Date) from and including the day following the Bank Closing Date to and including the day preceding the Payment Date at the Settlement Interest Rate.
Except for the Initial Grant and the Initial Payment, the Optionee does not, and will not at any time hereafter, have any obligation to incur any additional share issuances or cash payments pursuant to section 4 or to exercise the Option and nothing in this Agreement shall be construed as creating any such obligation.