Common use of Monthly Option Clause in Contracts

Monthly Option. A Shareholder may elect, by notice in writing, to pay the Use Charge (plus any Additional Use Charges) in 12 monthly instalments (a ‘Monthly Payment Election’). Monthly Payment Elections will be subject to such additional payment terms (including the charging of interest to reflect the additional costs incurred by BoatCo) as may be notified to the Shareholders by BoatCo upon application.

Monthly Option. A Shareholder may elect, by notice in writing, to pay the Use Charge (plus any Additional Use Charges) in 12 monthly instalments (a ‘Monthly Payment Election’). Monthly Payment Elections will be subject to such additional payment terms (including the charging of interest to reflect the additional costs incurred by BoatCo) as may be notified to the Shareholders by BoatCo upon application.

Monthly Option. A Shareholder may elect, by notice in writing, to pay the Use Charge (plus any Additional Use Charges) in 12 monthly instalments (a ‘Monthly Payment Election’). Monthly Payment Elections will be subject to such additional payment terms (including the charging of interest to reflect the additional costs incurred by BoatCo) as may be notified to the Shareholders by BoatCo upon application.