Common use of PAYMENT FOR AND DELIVERY OF THE NOTES Clause in Contracts

PAYMENT FOR AND DELIVERY OF THE NOTES. (a) Investor shall remit the relevant Cash Consideration in U.S. Dollars by way of a wire transfer of immediately available funds to the Escrow Account. Upon the receipt by the Escrow Account of the relevant Cash Consideration (less any amount specified by Issuer in the written notice provided pursuant to Section 2.2) from Investor, Investor shall be deemed to have fully discharged its obligations in respect of payment of the relevant Cash Consideration. (b) At each relevant Closing, subject to written confirmation of receipt of the relevant Cash Consideration (less any amount specified by Issuer in the written notice provided pursuant to Section 2.2) by the bank or licensed financial intermediary of the Escrow Account, Issuer shall deliver to Investor the relevant Note. (c) Each Note purchased by Investor shall be registered in Investor’s name in Issuer’s Register of Noteholders and each Note issuable upon the exercise of the Upsize Option, if any, will be fungible with the Note issuable in the First Closing and will be treated as a single instrument.

Appears in 2 contracts

Sources: Note Subscription Agreement (Cheng Zheng), Note Subscription Agreement (Cheng Zheng)