Down payment definition

Down payment means all partial payments, whether made in cash or otherwise, received by or for the benefit of the seller before or substantially contemporaneous with either the execution of the installment sale contract or the delivery of the motor vehicle sold under that contract, whichever occurs later.

Down payment means the amounts paid in money and in goods to the home improvement contractor and allowances given by the home improvement contractor to the buyer prior to or contemporaneous with the execution of a home improvement installment contract.

Down payment means (i) a cash contribution made by the Borrower, either prior to or at the time the Loan is Closed, from the Borrower's Own Fund's towards the purchase price of the Property, or (ii) a verifiable equity in the Property vested in the Borrower only, after completion of the improvements in accordance with the Original Appraisal.

Examples of Down payment in a sentence

• If the Real Estate should be damaged or destroyed by fire or other casualty and if, prior to Closing, the real Estate shall not be repaired or restored by and at the Sellers expense, to a condition as good as it was prior to the damage or destruction, then Purchaser, at his option, may terminate this contract by written notice to Seller and the Down Payment Shall be returned to Purchaser.

• Seller agrees to provide financing to the Buyer under the following terms and conditions: Loan Amount: $____________________ Down Payment: $____________________ Interest Rate (per annum): ____% Term: ____ ☐ Months ☐ Years Documents: The Buyer shall be required to produce documentation, as required by the Seller, verifying the Buyer’s ability to purchase according to the Purchase Price and the terms of the Seller Financing.

• Xxxxxx agrees to provide financing to the Buyer under the following terms and conditions: a.) Loan Amount: $[AMOUNT] b.) Down Payment: $[AMOUNT] c.) Interest Rate (per annum): [#]% d.) Term: [#] ☐ Months ☐ Years VI.

• Xxxxxx agrees to provide financing to the Buyer under the following terms and conditions: Loan Amount: $[AMOUNT] Down Payment: $[AMOUNT] Interest Rate (per annum): [#]% Term: [#] ☐ Months ☐ Years Documents: The Buyer shall be required to produce documentation, as required by the Seller, verifying the Buyer’s ability to purchase according to the Purchase Price and the terms of the Seller Financing.

• Before payment by ISR of the Down Payment specified in Section 9 above, and as a condition thereto, the Supplier shall furnish ISR with an irrevocable autonomous bank guarantee in the full amount of such Down Payment in the form attached hereto as Annex G1 (the "Down Payment Guarantee").

More Definitions of Down payment

Down payment means an amount, including the value of any property used as a trade-in, paid to a seller to reduce the cash price of a motor vehicle purchased under a consumer credit sale.

Down payment has the meaning set forth in Section .

Down payment means all partial payments, whether made in

Down payment shall have the meaning given in Section 3.1 of the Supply Agreement.

Down payment shall have the meaning set forth in Section 4.1 (Down Payment).

Down payment means that portion of the purchase price of the property that is not financed by any other loan.

Down payment means the payment made by the purchaser to the vendor on account of the purchase price at or before the time of the execution of a land installment contract. [PL 1983, c. 368 (NEW).]