Common use of Payment of Installment Payments Clause in Contracts

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. Required payments for each bus configuration are quoted by CONTRACTOR in its response to IFB # DPI 40#24-SchoolBusFinance2016 - Amendment #1 RQ59413-WS, Requisition No. RQ59413, 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. Required payments for each bus configuration are quoted by CONTRACTOR in its response to (DPI IFB # DPI 40-SchoolBusFinance2016 - Amendment #1 RQ21333027 School Bus Financing) 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. Required payments for each bus configuration are quoted by CONTRACTOR in its response to IFB # DPI 40-SchoolBusFinance2016 - Amendment #1 PR12414580-537551829-NM, Requisition No. PR12414580 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.