Common use of Payment of the Consideration Clause in Contracts

Payment of the Consideration. 6.1 The Consideration shall be paid as follows, an amount equal to the – 6.1.1 Escrow Amount held in escrow by the Escrow Agent, to Harmony by the Escrow Agent for and on behalf of Wits Gold; and 6.1.2 the Balance of the Consideration, plus VAT on the full Consideration, held in escrow by the Escrow Agent, to Harmony by the Escrow Agent for and on behalf of Wits Gold, on the Effective Date. 6.2 All payments to be made in terms of this Agreement will be made by electronic transfer of immediately available and freely transferable funds into Harmony’s Designated Account, free of any deductions or set-off whatsoever, in the currency of the Republic of South Africa.