Monthly Installment Payments Sample Clauses
The Monthly Installment Payments clause establishes the requirement for a party to make regular, typically equal, payments on a monthly basis to fulfill a financial obligation under the agreement. This clause details the amount due each month, the due date for each payment, and may outline consequences for late or missed payments, such as interest charges or penalties. Its core practical function is to provide a clear and predictable payment schedule, ensuring both parties understand their financial commitments and reducing the risk of disputes over payment timing or amounts.
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Monthly Installment Payments. On or before each date (each, an “Installment Date”) set forth on the repayment schedule attached hereto as Exhibit II (the “Repayment Schedule”), the Company shall repay a portion of the outstanding balance of this Note in an amount equal (i) the installment principal amount set forth on the Repayment Schedule as of such Installment Date (or the outstanding Principal if less than such amount (the “Installment Principal Amount”)), plus (ii) during any Amortization Event the Payment Premium in respect of such Installment Principal Amount, and (iii) accrued and unpaid interest hereunder as of each Installment Date (collectively, the “Installment Amount”). With respect to the payment of any applicable Installment Amount by the Company hereunder, the Company shall, at its own option, repay each applicable Installment Amount either (i) in cash on or before the Installment Date, or (ii) by submitting an Advance Notice (an “Advance Repayment”), or a series of Advance Notices, each with an Advance Date on or before the applicable Installment Date, or any combination of (i) or (ii) as determined by the Company. In respect of any applicable Installment Amount, or portion thereof, to be repaid by the Company in cash, the Company shall pay such applicable Installment Amount to the Holder by wire transfer of immediately available funds in cash on or before such Installment Date. If the Company elects (or is deemed to have elected, as set forth below) an Advance Repayment in accordance with this Section for all or a portion of an applicable Installment Amount, then the Company shall deliver an Advance Notice to the Holder in accordance with the terms and conditions of the SEPA, that will have an Advance Date on or before the applicable Installment Date. Upon the closing of such Advance Notice in accordance with the SEPA, the Holder shall offset the amount due to be paid by the Holder to the Company under the SEPA against an equal amount of the applicable Installment Amount to be paid by the Advance Repayment. If, on the Installment Date any portion of the applicable Installment Amount remains unpaid, the Company shall repay such outstanding applicable Installment Amount as a cash repayment in accordance with this Section. For so long as this Note is outstanding, unless otherwise agreed by the Holder, if the Company delivers an Advance Notice under the SEPA, the Company shall be deemed to have elected an Advance Repayment in respect of such Advance Notice up to the appli...
Monthly Installment Payments. Borrower shall make principal monthly installment payments of $6,000 (each, a “Monthly Payment”), payable on the 1st day of November 2020 and each month thereafter.
Monthly Installment Payments. The Borrower shall, at its own option, (i) repay in cash any Installment Amount (a “Borrower Repayment”) on the applicable Repayment Date, subject to the provisions of this Section 2(c) and Section 2(d), (ii) repay any Installment Amount by submitting an Advance Notice (an “Advance Repayment”) with an Advance Date on or before the applicable Repayment Date, subject to the provisions of Section 2(e), or (iii) repay any Installment Amount in a combination of a 1 Insert date 6 months from Issuance Date. 2 Insert date 7 months from Issuance Date.
Monthly Installment Payments. The Company shall pay Employee, subject to the provisions hereof, the gross amount of $360,000, less applicable withholding taxes, to be paid to Employee at the gross rate of (a) $7,500 per month for a period of twelve (12) months, commencing on October 15, 1998, and continuing through September 15, 1999, and (b) $15,000 per month for a period of eighteen (18) months commencing on September 15, 1999 and continuing through March 15, 2001.
Monthly Installment Payments. Subject to the terms of this Section 2, the Principal Amount of this Note shall become due in installments in the amounts and on the dates specified herein (each a "Repayment Date"), plus any and all default payments owing under the Transaction Documents but not previously paid. If the Company meets the Additional Financing Threshold, then the outstanding Principal Amount of this Note shall be due and payable in installments on the dates and in the amounts shown below: Date Amount ---- ------ December 1, 2002 $125,000.00 January 1, 2003 125,000.00 February 1, 2003 125,000.00 March 1, 2003 125,000.00 April 1, 2003 125,000.00 May 1, 2003 125,000.00 June 1, 2003 125,000.00 July 1, 2003 125,000.00 August 1, 2003 125,000.00 September 1, 2003 125,000.00 October 1, 2003 125,000.00 November 1, 2003 125,000.00 December 1, 2003 125,000.00 January 1, 2004 125,000.00 February 1, 2004 750,000.00 If the Company does not meet the Additional Financing Threshold, then the outstanding Principal Amount of this Note shall be due and payable in installments on the dates and in the amounts shown below: Date Amount ---- ------ August 1, 2002 $125,000.00 September 1, 2002 125,000.00 October 1, 2002 125,000.00 November 1, 2002 125,000.00 December 1, 2002 125,000.00 January 1, 2003 125,000.00 February 1, 2003 125,000.00 March 1, 2003 125,000.00 April 1, 2003 125,000.00 May 1, 2003 125,000.00 June 1, 2003 125,000.00 July 1, 2003 125,000.00 August 1, 2003 125,000.00 September 1, 2003 125,000.00 October 1, 2003 125,000.00 November 1, 2003 125,000.00 December 1, 2003 125,000.00 January 1, 2004 125,000.00 February 1, 2004 250,000.00 Any principal of this Note that is prepaid by the Company pursuant to Section 3 or converted by the Holder pursuant to Section 4 shall be applied to reduce the installments of principal payable under this Section 2(b) in inverse order of maturity.
Monthly Installment Payments. (1) After tendering the down payment, the Debtor(s) shall make a monthly payment of . Interest shall continue to accrue at the statutory rate.
Monthly Installment Payments. On the date hereof, Borrower shall pay to Lender a sum equal to the amount of all interest which shall accrue on this Note at the Interest Rate from the date hereof to August 1, 2015. Commencing on September 1, 2015 and continuing on the first day of each and every calendar month thereafter until the Maturity Date, there shall be regular, consecutive monthly installments of principal and interest, based on a one hundred sixty eight (168) month amortization, and payable as follows: The sum of $14,324.72, commencing on September 1, 2015 and continuing monthly until August 1, 2029, at which time the remaining principal balance, together with all accrued and unpaid interest, and any other unpaid sums hereunder, shall be due and payable in full. All payments shall be made with legal tender in the United States for public and private debts at the time of payment.
Monthly Installment Payments. Notwithstanding Section 2.5.2, an Executive may elect that, in the event of a Change in Control, the Employer shall pay the benefit to the Executive in twelve (12) equal monthly installments payable on the first day of each month commencing with the month following the Executive’s Normal Retirement Date. The annual benefit shall be paid to the Executive for fifteen (15) years. The election to receive installment payments must be made by the Executive no later than the date this Agreement is signed. Notwithstanding the foregoing, the Executive may change his or her election provided the requirements of Section 2.8 are satisfied.
Monthly Installment Payments. Debtor hereby agrees to pay to the Agent for the benefit of the Parties, as follows:
(1) On or before the first business day of each calendar month beginning January 1, 2000, an amount equal to 1/36 of the total of the amounts set forth on Exhibit "A" hereto, plus such additional amounts as may be required upon reconciliation of Exhibit "A" to the ballots accepting the Debtor's Plan for repayment, plus interest on the total amounts unpaid at the rate of 8% per annum running from July 26, 1999, on a fully amortized basis. Interest accruing from July 26, 1999 through the date the first installment shall be paid by CMA to creditors, shall be paid as a last, thirty-seventh (37th) monthly installment payment;
(2) To those Creditors on Exhibit "A" whose claims are less than $5,000 or by their ballot have agreed to reduce their claim to $5,000, one installment in the allowed amount listed on Exhibit "A" as soon as claims in such category have been reconciled. Following the occurrence of an Event of Default under Paragraph 4(a) hereof, the principal balance of the Obligations shall bear interest thereafter at the default rate of 12% per annum until all delinquent amounts, including default rate interest, are paid.
Monthly Installment Payments. Borrower shall make monthly payments of principal in the amount of Twenty Five Thousand Dollars ($25,000) on each of the four (4) and five (5) month anniversaries of the date of this Debenture (i.e. on [__________ __, 2006, and __________ __, 2006)], together with all accrued but unpaid interest due and owing under this Debenture on each such monthly payment date.