Payment of Installment Payments. Required payments for each bus configuration are quoted by CONTRACTOR in its response to RFP #40-Finance1112, which is incorporated into this Agreement by reference thereto. Pursuant to the terms of the Contract Documents, the LEA will pay four equal Installment Payments for each Bus, as set forth on each “Part 2--Payment Schedule”. The total financed cost for the Buses is shown on Exhibit B attached hereto. Each Installment Payment comprises an interest component and a principal component, as set forth on “Part 2--Payment Schedule” to each Appendix. The Installment Payments will be payable without notice or demand at such address as CONTRACTOR has designated and provided in writing to the LEA and to the Board. Pursuant to the Master Facilitator Agreement and subject to Section 4.03 hereof, the Board will direct funds allocated to the LEA by the General Assembly of the State for the replacement of buses to pay, on behalf of the LEA, the Installment Payments to CONTRACTOR. In the event that the Board is unable to direct Installment Payments because the General Assembly fails to allocate funds for the replacement of school buses, the LEA may continue this Agreement, at its option, from alternative sources of funding. The LEA hereby acknowledges and agrees that the Board will combine the Installment Payments with similar payments from other local education agencies acquiring replacement Buses and will cause the total of the Installment Payments be paid to the CONTRACTOR.
Payment of Installment Payments. Required payments for each bus configuration are quoted by CONTRACTOR in its response to IFB # DPI 40-SchoolBusFinance2016 - Amendment #1 which is incorporated into this Agreement by reference thereto. Pursuant to the terms of the Contract Documents, the LEA will pay FOUR equal Installment Payments for each Bus, as set forth on each “Part 2--Payment Schedule” of each Appendix. The total estimated financed cost for the Buses is shown on Exhibit B attached hereto. Each Installment Payment comprises an interest component and a principal component, as set forth on “Part 2--Payment Schedule” to each Appendix. The Installment Payments will be payable without notice or demand at such address as CONTRACTOR has designated and provided in writing to the LEA and to the Board. Pursuant to the Master Facilitator Agreement and subject to Section 4.03 hereof, the Board will direct funds allocated to the LEA by the General Assembly of the State for the replacement of buses to pay, on behalf of the LEA, the Installment Payments to CONTRACTOR. In the event that the Board is unable to direct Installment Payments because the General Assembly fails to allocate funds for the replacement of school buses, the LEA may continue this Agreement, at its option, from alternative sources of funding. The LEA hereby acknowledges and agrees that the Board will combine the Installment Payments with similar payments from other local education agencies acquiring replacement Buses and will cause the total of the Installment Payments be paid to the CONTRACTOR.
Payment of Installment Payments. (a) The County shall repay each Advancement, with interest, in Installment Payments as provided in this Agreement. The terms for the repayment of each Advancement shall be set forth in the Supplemental Agreement under which such Advancement is made. Unless otherwise provided in the applicable Supplemental Agreement or Supplemental Trust Agreement, there may be credited against the interest component of the Installment Payments otherwise payable hereunder amounts equal to the portion of the proceeds of the sale of Notes which are deposited in the Installment Payment Fund representing accrued interest or other amounts transferred to the Installment Payment Fund pursuant to such Supplemental Agreement or Supplemental Trust Agreement. The Installment Payments shall be sufficient in the aggregate to repay each Advancement together with interest thereon in the amounts set forth in the Supplemental Agreements.
Payment of Installment Payments. Purchaser shall promptly pay Installment Payments under each Property Schedule, exclusively from legally available funds, in lawful money of the United States of America, to Seller in such amounts and on the Installment Payment Dates described in the applicable Property Schedule, at Seller's address set forth on the signature page of this Agreement, unless Seller instructs Purchaser otherwise. With respect to any Installment Payment that is not paid on or before the due date thereof, Purchaser shall also pay a late charge of five percent (5.0%) of the delinquent Installment Payment or the highest amount permitted by applicable law, whichever is lower.
Payment of Installment Payments. The City shall, subject to prepayment as provided in Section 3.03, pay the Authority the Purchase Price, without offset or deduction of any kind, by paying the principal and interest components of the Installment Payments semi- annually on June 1 and December 1, commencing on December 1, 2014, in each of the years and in the amounts set forth in Exhibit A attached hereto and incorporated herein. The obligation of the City to pay the Purchase Price by paying the Installment Payments is, subject to Section 7.01 hereof, absolute and unconditional, and until such time as the Installment Payments has been paid in full (or provision for the payment thereof has been made pursuant to Section 6.01), the City shall not discontinue or suspend any Installment Payments required to be paid by it under this Section when due, whether or not the Wastewater System or any part thereof is operating or operable, or its use is suspended, interfered with, reduced, curtailed or terminated in whole or in part, and such payments are not subject to reduction whether by offset or otherwise and are not conditioned upon the performance or nonperformance by any party to any agreement for any cause whatsoever.
Payment of Installment Payments. The Company covenants and agrees that it will cause to be paid the Installment Payments (for the avoidance of doubt, as increased by any Additional Interest), on each of the Notes at the places, at the respective times and in the manner provided herein and in the Notes.
Payment of Installment Payments. The County shall repay the Series 2018 Advancement, with interest (denominated into components of principal and interest) in installments due at the times and in the amounts set forth in Exhibit A, each such payment constituting an Installment Payment. There shall also be credited against the Installment Payments otherwise payable hereunder any amounts transferred to the Installment Payment Fund pursuant to the First Supplemental Trust Agreement.
Payment of Installment Payments. The District shall not directly or indirectly extend or assent to the extension of the Installment Payment Dates for any Installment Payments without the prior written consent of the Seller.
Payment of Installment Payments. The Installment Payments shall be made within fifteen (15) days of calculating the Installment Payment for each Formula Period but in no event later than the 90th day following the end of each Formula Period by delivering to the VPC Class B Common Stockholders, in accordance with their percentage of ownership interest as described in SCHEDULE 3.1, a series of convertible collaterialized promissory notes (the "DEBENTURES"), one to each VPC Merger Shareholder for each Installment Payment, in the form annexed hereto as EXHIBIT 3.1(j)(1). The Debentures will bear interest at an annual rate of 9.0% and the payment of such Debentures will be secured by the issued and outstanding capital stock of the Surviving Corporation. To that end, MIS will enter into with the VPC Class B Common Stockholders a pledge agreement in the form attached hereto as EXHIBIT 3.1(j)(2) (hereinafter the "PLEDGE AGREEMENT"). Interest will be paid on the Formula Earnings as calculated herein on a quarterly basis, in arrears, commencing at the end of the first calendar quarter following the Effective Time and will be subject to adjustment at the end of each Formula Period based upon the principal face value of the applicable Debenture earned during such Formula Period. If excess interest is paid pursuant to this Section in any Formula Period as the result of the foregoing, such excess interest will be offset first against any future interest to be paid pursuant to this Section and then, if necessary, against the principal face value of the Debentures. The principal face value, if any, of each Debenture together with all accrued but unpaid interest on said Debenture shall be due and payable on the first anniversary date of its issuance. The Debentures may be prepaid by MIS at any time without penalty or additional interest. The VPC Class B Common Stockholders may convert the principal face value of the Debentures at any time prior to redemption into MIS Common Stock at the rate of $3.00 per share. Cash will be paid in lieu of any fractional shares.
Payment of Installment Payments. The interest rate designated on each “Part 2-- Payment Schedule” attached to each Appendix is the rate as quoted by CCMI in its response to RFP #40- Finance, which is incorporated into this Agreement by reference thereto. Pursuant to the terms of the Contract Documents, the LEA will pay three equal Installment Payments for each Bus, as set forth on each “Part 2--Payment Schedule”. The total financed cost for the Buses is shown on Exhibit B attached hereto. Each Installment Payment comprises an interest component and a principal component, as set forth on “Part 2--Payment Schedule” to each Appendix. The Installment Payments will be payable without notice or demand at such address as CCMI may from time to time designate in writing. Pursuant to the Master Facilitator Agreement, and subject to Section 4.03 hereof, the State Board will direct funds allocated to the LEA by the General Assembly of the State for the replacement of buses to pay, on behalf of the LEA, the Installment Payments to CCMI or its assignees. In the event that the State Board is unable to direct Installment Payments because the General Assembly fails to allocate funds for the replacement of school buses, the LEA may continue this Agreement, at its option, from alternative sources of funding . The LEA hereby acknowledges and agrees that the State Board will combine the Installment Payments with similar payments from other local education agencies acquiring replacement Buses and will cause the total of the Installment Payments be paid to the Trustee. The Trustee as CCMI’s assignee will distribute the total of the Installment Payments payable by the State Board on behalf of the LEA on each Installment Payment Date set forth on “Part 2--Payment Schedule” to each Appendix on such Installment Payment Date to the holders of the Certificates. The proceeds of sale of the Certificates will be used to finance the acquisition of the Accepted Buses.
