Deferred Payment Terms Clause Samples
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Deferred Payment Terms. (a) By using the Program, you agree that whenever there is an unpaid balance outstanding on the Account which is not paid in full by the due date shown on your billing statement, the Bank will charge you, and you will pay, interest on the unpaid balance of the Account from time to time, for each day from the date the transaction is posted to the Account until the date the unpaid balance is paid in full, at a variable rate equal to the Annual Percentage Rate applicable to the Account from time to time. (b)
(i) The Annual Percentage Rate applicable to the Account will be: the greater of (a) 22% and (b) the sum of the highest “Prime Rate” published in the “Money Rates” section of The Wall Street Journal on the last business day of the month and the margin set forth below (the sum of the margin and the Prime Rate is herein called the “Floating Rate”).
(ii) The Annual Percentage Rate will be adjusted on a monthly basis based on any fluctuation in the Floating Rate, if applicable.
(iii) Any change in the Annual Percentage Rate based on the calculation described in this section will become effective on the first day of your next billing cycle.
(iv) The margin which will be added to the Prime Rate to determine the Floating Rate will be 14.75% (using the Prime Rate in effect as of
(v) The Account balance that is subject to a finance charge each day will include (a) outstanding balances, minus any payments and credits received by the Bank on the Account that day, and (b) unpaid interest, fees, and other charges on the Account.
(vi) The Bank will charge a minimum finance charge of $1.00 in any billing cycle if the finance charge as calculated above is less than $1.00.
(vii) Each payment that you make will be applied to reduce the outstanding balance of the Account and replenish your available credit line.
(viii) The Bank may refuse to extend further credit if the amount of a requested charge plus your existing balance exceeds your credit limit.
Deferred Payment Terms. (a) By using the Program, you agree that whenever there is an unpaid balance outstanding on the Account which is not paid in full by the due date shown on your billing statement, the Bank will charge you, and you will pay, interest on the unpaid balance of the Account from time to time, for each day from the date the transaction is posted to the Account until the date the unpaid balance is paid in full, at a variable rate equal to the Annual Percentage Rate applicable to the Account from time to time. (b)
(i) The Annual Percentage Rate applicable to the Account will be: the greater of (a) 22% and
(b) the sum of the highest “Prime Rate” published in the “Money Rates” section of The Wall Street Journal on the last business day of the month and the margin set forth below (the sum of the margin and the Prime Rate is herein called the “Floating Rate”).
Deferred Payment Terms. (a) By using the Program, you agree that whenever there is an unpaid balance outstanding on the Account which is not paid in full by the due date shown on your billing statement, the Bank will charge you, and you will pay, interest on the unpaid balance of the Account from time to time, for each day from the date the transaction is
(i) The Annual Percentage Rate applicable to the Account will be: the greater of (a) 22% and (b) the sum of the highest “Prime Rate” published in the “Money Rates” section of The Wall Street Journal on the last business day of the month and the margin set forth below (the sum of the margin and the Prime Rate is herein called the “Floating Rate”).
(ii) The Annual Percentage Rate will be adjusted on a monthly basis based on any fluctuation in the Floating Rate, if applicable.
(iii) Any change in the Annual Percentage Rate based on the calculation described in this section will become effective on the first day of your next billing cycle.
(iv) The margin which will be added to the Prime Rate to determine the Floating Rate will be 14.75% (using the Prime Rate in effect as of March 31, 2013, the daily periodic rate would be .049315% and the corresponding annual percentage rate would be 18.00%).
(v) The Account balance that is subject to a finance charge each day will include (a) outstanding balances, minus any payments and credits received by the Bank on the Account that day, and (b) unpaid interest, fees, and other charges on the Account.
(vi) The Bank will charge a minimum finance charge of $1.00 in any billing cycle if the finance charge as calculated above is less than $1.00.
(vii) Each payment that you make will be applied to reduce the outstanding balance of the Account and replenish your available credit line.
(viii) The Bank may refuse to extend further credit if the amount of a requested charge plus your existing balance exceeds your credit limit.
Deferred Payment Terms. HBX grants to Decolar and its Affiliates the right to defer the payments of Consumed Bookings as per the provisions set forth in Exhibit 2 (Deferred Payment Terms). In case the Deferred Payment Terms are in force, section 3.2 shall apply regarding Payment Terms. Non-gratuitous cancellations or non-gratuitous no-show Bookings, should be paid based on the original check-in date of the Booking. In the event that Bookings are created whilst the Deferred Payment Terms are suspended (in accordance with provisions under Exhibit 2), the payment terms included in next paragraphs will apply.
Deferred Payment Terms. Buyer shall pay to Seller, Six Million Two Hundred Fifty Thousand and No/100 Dollars ($6,250,000.00) of the Purchase Price on the date of this Agreement and shall execute a promissory note in the principal amount of Twelve Million and No/100 Dollars ($12,000,000.00) as evidence of the unpaid balance of the Purchase Price which note shall be payable in two installments of Six Million and No/100 Dollars ($6,000,000.00) each, the first installment of which shall be due on March 31, 1996 and the second installment of which shall be due on September 30, 1996 and which note shall be secured by a mortgage and security agreement and financing statement granting a mortgage lien and security interest in the Assets and any additional interests acquired by Buyer pursuant to the Operating Agreement. Failure of Buyer to conform to and perform the payment of the Purchase Price, in accordance with the terms and provisions of this Agreement, shall constitute a breach hereof and entitle Seller to damages, be grounds for the rescission of the Purchase Agreement by Seller and/or a suit for specific performance by Seller. In the event Seller elects to rescind the Purchase Agreement hereunder, Buyer shall reassign unto Seller, all of the interests which Buyer acquired from Seller under the terms and provisions of the Purchase Agreement, free and clear of any and all burdens and encumbrances, save and except those burdens and encumbrances affecting the interests and Assets as of the date hereof. In the event Buyer defaults in the timely payment of any installment or interest due hereunder, Seller shall have the right and option to accelerate the due date of any and all outstanding installments which shall then and thereupon become due and payable. Buyer does hereby expressly waive any and all rights of notice, presentment and dishonor which may attach to the obligation created hereunder.
Deferred Payment Terms. (a) CONTINUATION OF TRADE CREDIT ARRANGEMENT. SKCA agrees to continue the Trade Credit Arrangement under the 1992 Agreement pursuant to which SKCA agreed to defer payment and to grant trade credit to Anacomp for purchase of the Products by Anacomp in an aggregate amount of up to Twenty Five Million United States Dollars ($25,000,000), subject to the terms of this Agreement (as so continued, the "Trade Credit Arrangement"). The available credit under the Trade Credit Arrangement as of the Closing Date shall be $25,000,000 less the aggregate Outstanding Amounts under the 1992 Agreement as of the Closing Date. All Invoiced Amounts outstanding under the 1992 Agreement as of the Closing Date shall become Outstanding Amounts hereunder thereafter as provided in Section 7.5(g). The available credit under the Trade Credit Arrangement as of February 1, 1998, shall be $5,000,000."