Common use of First Installment Clause in Contracts

First Installment. The first installment of the Purchase Price (the “First Installment”) shall be ninety percent (90%) of the Purchase Price calculated by reference to the Shipment Size and Base NCV. Buyer shall pay the First Installment within five (5) Working Days following receipt from Seller of a properly documented invoice therefor, which invoice shall be valid when Buyer has received each of the following with respect to the FOB Shipment that is the subject of the invoice: (1) originals of the clean on board ▇▇▇▇(s) of lading required pursuant to the FOB Schedule; (2) original FOB Weight Certificate; (3) copy of the mate’s receipt(s) duly signed by the officer in charge of loading the Vessel; (4) Shipper Cargo Information Sheet (SCIS) as issued by Seller from time to time; (5) statement of facts and NOR at Load Port signed by Seller (or its representative) and the Master; and (6) copies of certificates of origin (using a first in-first out determination), if requested pursuant to Section 5(a)(vi).