Option B – Prepayment of Installment Payments Sample Clauses

Option B – Prepayment of Installment Payments. With the written consent of the Bank, the Town may elect to have the Net Proceeds of insurance payable as a result of such loss, damage or destruction, together with other money provided by the Town, applied to the prepayment of Installment Payments. Notwithstanding anything to the contrary, in the event that the Town elects to make partial prepayment under this Option B, the Town shall first provide to the Bank a certificate signed by the Town Manager to the effect that (A) the Mortgaged Property has been restored to its condition prior to the damage, or (B) such damage will not impair the Town’s use of the Mortgaged Property for its intended purposes.
Sample 1
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Option B – Prepayment of Installment Payments. With the written consent of the Bank, the Town may elect to have the Net Proceeds payable as to any such loss of title, condemnation or taking, together with other money provided by the Town, applied to the prepayment of the Installment Payments. Notwithstanding anything to the contrary, in the event that the Town elects to make partial prepayment pursuant to this Option B, the Town shall first provide to the Bank a certificate signed by the Town Manager to the effect that such loss of title, condemnation or taking has not impaired the Town’s use of the Mortgaged Property for its intended purpose.
Sample 1

Related to Option B – Prepayment of Installment Payments

  • Installment Payments Notwithstanding Section 3.01, the Executive may elect by written notice to receive any payments due to him hereunder by way of periodic or installment payments.

  • Benefits – Prepayment or Repayment of Premiums During Unpaid Portion of Leave 11.4.1 Teachers may prepay or repay benefit premiums payable during the duration of parental leave.

  • Payment of Principal, Interest, Escrow Items, Prepayment Charges, and Late Charges Borrower will pay each Periodic Payment when due. Borrower will also pay any prepayment charges and late charges due under the Note, and any other amounts due under this Security Instrument. Payments due under the Note and this Security Instrument must be made in U.S. currency. If any check or other instrument received by Lender as payment under the Note or this Security Instrument is returned to Lender unpaid, Lender may require that any or all subsequent payments due under the Note and this Security Instrument be made in one or more of the following forms, as selected by Lender: (a) cash; (b) money order; (c) certified check, bank check, treasurer’s check, or cashier’s check, provided any such check is drawn upon an institution whose deposits are insured by a U.S. federal agency, instrumentality, or entity; or (d) Electronic Fund Transfer. Payments are deemed received by Lender when received at the location designated in the Note or at such other location as may be designated by Lender in accordance with the notice provisions in Section 16. Lender may accept or return any Partial Payments in its sole discretion pursuant to Section 2. Any offset or claim that Borrower may have now or in the future against Lender will not relieve Borrower from making the full amount of all payments due under the Note and this Security Instrument or performing the covenants and agreements secured by this Security Instrument.

  • Optional Prepayment (a) The Borrower shall have the right at any time and from time to time to prepay any Borrowing, in whole or in part, upon at least three Business Days’ prior written or fax notice (or telephone notice promptly confirmed by written or fax notice) in the case of Eurodollar Loans, or written or fax notice (or telephone notice promptly confirmed by written or fax notice) at least one Business Day prior to the date of prepayment in the case of ABR Loans, to the Administrative Agent before 11:00 a.m., New York City time; provided, however, that each partial prepayment shall be in an amount that is an integral multiple of $1,000,000 and not less than $3,000,000.

  • Optional Prepayments The Borrower shall have the right at any time and from time to time to prepay any Borrowing in whole or in part, subject to prior notice in accordance with Section 3.04(b).

  • Recurring Instalment Payments 15.1 Where you have a Citibank ATM/Debit Card which allows you to make Card Transactions:

  • Payment Due Dates and Interest Should the Owner fail to pay a proper invoice within thirty calendar days of receipt, the Design Professional shall notify the Owner in writing by Certified or Statutory mail. If the Owner fails to pay within five business days of receipt of the notice, the Design Professional shall receive, in addition the sum named in the proper invoice, interest thereon at the rate of one half (½) percent per month on the unpaid balance as may be due.

  • Repayment of Overpayments 17.1 Any salary overpayments will be repaid to the employer within a reasonable period of time.

  • Payment Due Date Unless City notifies the Contractor that a dispute exists, Payment shall be made within [Enter number of days, generally ≥ 30] calendar days, measured from (1) the delivery of goods and/or the rendering of services or (2) the date of receipt of the invoice, whichever is later. Payment is deemed to be made on the date on which City has issued a check to Contractor or, if Contractor has agreed to electronic payment, the date on which City has posted electronic payment to Contractor.

  • Payment Due Payment for services provided will be due on or before the next xxxx date (i.e., same date in the following month as the xxxx date) and is payable in immediately available funds. Payment is considered to have been made when received by BellSouth.

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