INSTALLMENT PAYMENTS; ASSUMPTION OF DEBT Sample Clauses

INSTALLMENT PAYMENTS; ASSUMPTION OF DEBT. Lessee and Lessor acknowledge that (at Lessee's election) the EBO Price is payable in installments as provided in Schedule 1. If Lessee does not assume the Equipment Notes pursuant to (S) 11.6 of the ParticipatioN Agreement, but elects to pay the EBO Price in installments, then this Lease shall, upon payment of the initial installment of the EBO Price and discharge of the Mortgage in accordance with its terms, cease to constitute a true lease but shall, immediately and without further act, constitute a lease that creates a first-priority (subject to Permitted Liens) perfected security interest under UCC (S) 1-201(37) and evidence a Lien on the Aircraft granted by Lessee to Lessor to secure the remaining unpaid balance of the EBO Price and all other amounts owing to Owner Trustee or Owner Participant, and, in connection therewith, Lessee shall deliver to Owner Participant an opinion of counsel reasonably satisfactory to Owner Participant confirming that this Lease will thereafter constitute a first-priority (subject to Permitted Liens) perfected security interest in the Aircraft. So long as any such balance remains unpaid, all provisions of this Lease shall continue to be in effect, mutatis mutandis, in favor of Lessor, as a secured party, except for (S)(S) 2.1, 3.1, 3.2.1, 5, 9, and 17, and (S) 10 Shall require immediate payment of the EBO Price balance (rather than Stipulated Loss Value) upon the occurrence of an Event of Loss, and (S) 11 shall require property insurance only in the amount of the unpaid balance of the EBO Price. In addition, the indemnities set forth in (S) 9 of the Participation Agreement shall continue until the EBO Price is paid in full.
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Related to INSTALLMENT PAYMENTS; ASSUMPTION OF DEBT

  • Installment Payments For purposes of Code Section 409A, Employee’s right to receive any installment payments pursuant to this Agreement shall be treated as a right to receive a series of separate and distinct payments. Whenever a payment under this Agreement specifies a payment period with reference to a number of days, the actual date of payment within the specified period shall be within the sole discretion of the Company.

  • Initial Payment Interconnection Customer shall elect (and provide its election to the Transmission Provider within five days of the commencement of negotiation of the GIA pursuant to Section 11.2 of the GIP) to make either 1) an initial payment equal to twenty

  • Treatment of Installment Payments Each payment of termination benefits under this Agreement shall be considered a separate payment, as described in Treas. Reg. Section 1.409A‑2(b)(2), for purposes of Section 409A of the Code.

  • Upfront Payment Upon the execution of this Agreement, the Lessee shall pay to the Lessor the following: (check one) ☐ - First Month’s Rent of: [AMOUNT (IN WORDS)] Dollars ($[AMOUNT (AS A NUMBER)]) ☐ - Last Month’s Rent of: [AMOUNT (IN WORDS)] Dollars ($[AMOUNT (AS A NUMBER)]) ☐ - Security Deposit of: [AMOUNT (IN WORDS)] Dollars ($[AMOUNT (AS A NUMBER)]) POSSESSION. Possession shall commence on [MM/DD/YYYY], unless otherwise agreed upon. The Lessor shall use due diligence to give possession as nearly as possible at the beginning of the Term. The Rent shall be prorated in consideration of any delay in providing possession, but the Term shall not be extended as a result of such delay. The Lessee shall make no other claim against the Lessor for the delay in obtaining possession of the Premises.

  • Payment of Debt Borrower will pay the Debt at the time and in the manner provided in the Note and in this Security Instrument.

  • Treatment of Each Installment as a Separate Payment For purposes of applying the provisions of Section 409A to this Agreement, each separately identified amount to which the Executive is entitled under this Agreement shall be treated as a separate payment. In addition, to the extent permissible under Section 409A, any series of installment payments under this Agreement shall be treated as a right to a series of separate payments.

  • Redemption Payments Upon receipt of monies paid to it by the Custodian with respect to any redemption of Series shares, pay or cause such monies to be paid pursuant to instructions by the appropriate Account or Institution.

  • Distributions Payable in Cash; Redemption Payments In the event that the Board of the Investment Company shall declare a distribution payable in cash, the Investment Company shall deliver to FTIS written notice of such declaration signed on behalf of the Investment Company by an officer thereof, upon which FTIS shall be entitled to rely for all purposes, certifying (i) the amount per share to be distributed, (ii) the record and payment dates for the distribution, and (iii) that all appropriate action has been taken to effect such distribution. Once the amount and validity of any dividend or redemption payments to shareholders have been determined, the Investment Company shall transfer the payment amounts from the Investment Company's accounts to an account or accounts held in the name of FTIS, as paying agent for the shareholders, in accordance with any applicable laws or regulations, and FTIS shall promptly cause payments to be made to the shareholders.

  • Payment of Debts, Taxes, Etc The Company shall pay, or cause to be paid, all of its indebtedness and other liabilities and perform, or cause to be performed, all of its obligations in accordance with the respective terms thereof, and pay and discharge, or cause to be paid or discharged, all taxes, assessments and other governmental charges and levies imposed upon it, upon any of its assets and properties on or before the last day on which the same may be paid without penalty, as well as pay all other lawful claims (whether for services, labor, materials, supplies or otherwise) as and when due

  • Prepayments Payments Taxes Mandatory and Voluntary Payment; Mandatory and Voluntary Reduction of Commitments.................................. 10 3.02

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