Extended Payment Option. Cytori may elect to pay Olympus a total of USD 16,000,000, inclusive of the Initial Payment and all Installment Payments (the “Extended Payment Option”). If Cytori exercises this option, Cytori shall pay Olympus the Initial Payment, the Installment Payments, and the minimum annual payments below, until Cytori has paid Olympus a total of USD 16,000,000 (after which Cytori shall have no further obligation with respect to the Extended Payment Option) provided, however, that during years three (3) through six (6) Cytori shall pay the minimum Installment Payment amounts specified below for such years, with any shortfall in installment payments for each year being paid in full within sixty (60) days following the end of each relevant Cytori fiscal year. Cytori shall pay Olympus at least the following amounts during years three (3) through six (6) following the Effective Date: (i) USD 3,000,000 during the Cytori fiscal year in which the third anniversary of the Effective Date falls; (ii) USD 3,000,000 during the Cytori fiscal year in which the fourth anniversary of the Effective Date falls; (iii) USD 4,000,000 during the Cytori fiscal year in which the fifth anniversary of the Effective Date falls; and (iv) any additional amounts necessary to reach a total of USD 16,000,000 during the Cytori fiscal year in which the sixth anniversary of the Effective Date falls. If Cytori does not exercise the One Year Payment Option, Two Year Payment Option, or pay Olympus the Total Purchase Price pursuant to Section 2.4(c), then Cytori shall be deemed to have exercised the Extended Payment Option. Cytori shall pay the Total Purchase Price to Olympus in accordance with this Section 2.4 without prior notice or demand and without deduction, set-off, or reduction for any reason and notwithstanding any dispute that may arise from or be related to this Agreement or any claim, counterclaim, recoupment, defense, or other right which Cytori may have against Olympus.
Extended Payment Option. CONTRACTOR shall allow Customers up to 12 months after an emergency is declared over to make monthly payments to debt incurred during the emergency. Not applicable to debt prior to the emergency.
Extended Payment Option. I agree to pay the remaining tuition balance for the 2024-2025 school year in ten equal installments beginning Aug. 1, 2024, and continuing on the first of each month, ending May 1, 2025.
Extended Payment Option. If Cytori fails to pay the full balance of any installment payment under Section 2.4(a) when due, then Cytori will be deemed to exercise the “Extended Payment Option.” Under the Extended Payment Option, Cytori shall pay Olympus the “Extended Purchase Price” of $16,000,000 on or before March 1, 2020, in the minimal annual payments below, after which Cytori shall have no further obligation with respect to the Extended Payment Option. Cytori and Olympus recognize and agree that Cytori has previously paid and shall receive a full credit toward the Extended Purchase Price for payments made toward the Total Purchase Price in the total amount of $2,829,751. Cytori and Olympus recognize and agree that Cytori shall receive a full credit toward the Extended Purchase Price for any amounts (excluding interest) paid toward the Total Purchase Price under the conditions set forth in Section 2.4(a). In the event that Cytori exercises the Extended Payment Option, Cytori shall pay the shortfall in installment payments, including any accrued interest, under Section 2.4(a) in full within sixty (60) days following the end of the Cytori fiscal year in which the shortfall in installment payments occurred, as well as the balance of the Extended Purchase Price in extended installment payments specified below for years 2017 through 2020, as set forth below: $3,000,000 USD principal amount payable on or prior to March 1, 2017; $3,000,000 USD principal amount payable on or prior to March 1, 2018; $4,000,000 USD principal amount payable on or prior to March 1, 2019; and any additional principal amount necessary to reach a total of $16,000,000 on or prior to March 1, 2020.
Extended Payment Option. The University offers extended payment plans. The Student agrees to pay all charges assessed by the University for utilizing one of these options. PLEASE NOTE: Past due payments are not eligible for the extended payment plan option. If a student fails to make agreed upon payments by the specified due date, all balances outstanding on the student account are due and payable in full immediately. The University may prohibit a student form using the extended payment option if the student has previously failed to make payments when due.
