Common use of Advance Amount Clause in Contracts

Advance Amount. In consideration for the respective promises and covenants of the Seller contained herein, including the Delivery by the Seller to the Purchaser of Finished Cobalt, the Purchaser hereby agrees to pay, and the Seller hereby agrees to accept, the Advance Amount at the Closing in cash as a deposit in respect of the Cobalt Purchase Price. Payment of the Advance Amount shall be made without any deduction, withholding, charge or levy for or on account of any Taxes. The Seller will provide wire transfer instructions and bank account information for the Advance Amount to the Purchaser at least three Business Days in advance of the Closing Date.