Common use of Payments Due at Closing Clause in Contracts

Payments Due at Closing. Subject to the terms and conditions of this Agreement, at the Closing, Buyer shall (i) pay to Seller Two Million Dollars ($2,000,000) in cash by wire transfer of immediately available U.S. funds in accordance with the wire transfer instructions delivered to Buyer in writing at least two (2) Business Days prior to the Closing and (ii) by delivering to Seller a duly executed copy of the VTB Note with a principal amount equal to the Closing Payment, as may be adjusted pursuant to Section 2.3, minus the amount paid in cash pursuant to Section 2.2(i).