Calculated and Payable Sample Clauses
The "Calculated and Payable" clause defines how and when specific amounts owed under a contract are determined and must be paid. Typically, this clause outlines the method for calculating payments—such as fees, royalties, or damages—and sets clear deadlines or conditions for when these payments become due. For example, it may specify that payments are due within 30 days of invoice receipt or upon completion of certain milestones. Its core practical function is to ensure both parties understand their financial obligations and the timing of payments, thereby reducing disputes and promoting smooth financial transactions.
Calculated and Payable. The Credit Union calculates interest on the basis of a 365-day year. Interest is charged on February 29 in a leap year. Interest will continue to be payable by you both before and after maturity, a default on this Agreement, and/or a judgment is rendered against you. Cost & Expenses. You will pay the Credit Union all of the Credit Union's reasonable costs and expenses (including the fees and charges of internal and external legal counsel, on a solicitor client basis and notarial fees), relating to enforcing the Loan and such costs and expenses shall constitute a debt payable by you to the Credit Union.
Calculated and Payable. The Credit Union calculates interest on the basis of a 365- day year. Interest will continue to be payable by you both before and after maturity, a default on this Agreement, and/or a judgment is rendered against you. Cost & Expenses. You will pay the Credit Union all of the Credit Union’s reasonable costs and expenses (including the fees and charges of internal and external legal counsel, on a solicitor client basis and notarial fees), relating to enforcing the Loan and such costs and expenses shall constitute a debt payable by you to the Credit Union.