FuelCell Energy Inc (FCEL)

[Maximilliano]

Here is the POSCO settlement module payment schedule

Maximilliano
Wednesday, December 29, 2021 7:55:15 PM
Re: Hoghead7 post# 43589
Post# 43592 of 47137

POSCO module purchase from 8-k

The Settlement Agreement further provides that, in order to service its existing customers under the Existing LTSAs, KFC will place a firm, non-cancelable order for twelve SureSource 3000 modules within two weeks after the date of the Settlement Agreement and an additional firm, non-cancelable order for eight SureSource 3000 modules on or before June 30, 2022, all at a price of $3.0 million per module.

POSCO module payment terms (Settlement Agreement)

4. Payment Terms

The purchase price for each Module shall be paid 15 days after FCE’s invoice as follows:
(a) First Payment: 30% upon acceptance of Purchase Order
(b) Second Payment: 30% 60 days prior to EXW date
(c) Third Payment: 40% EXW date
In connection with the invoice for the Second Payment, FCE shall provide to the PE Group an approved production plan that reasonably supports that delivery of the Module can be made within 60 days after the date of invoice.

https://d18rn0p25nwr6d.cloudfront.net/CIK-0000886128/8905af08-615e-465e-8f06-ebdeabf4f5e9.pdf

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In addition, KFC agrees to use commercially reasonable efforts to order fourteen additional SureSource 3000 modules by December 31, 2022, at a price of $3.0 million per module if ordered by such date.

https://ih.advfn.com/stock-market/NASDAQ/fuelcell-energy-FCEL/stock-news/86894431/current-report-filing-8-k#TM2136205D1_EX10-1_HTM