PAYMENT OF SECOND INSTALLMENT Sample Clauses

PAYMENT OF SECOND INSTALLMENT. (1) If Seller does not dispute Buyer's claim for Loss Due to Breach and/or claim of one or more Unacceptable Conditions within such ten (10) day period, Buyer shall pay the Second Installment, reduced by the applicable amount of the Loss Due to Breach and the amount of all Confirmed Costs (as hereinafter defined), on the sixtieth (60th) day after the Second Installment Due Date. (2) If Seller does dispute Buyer's claim for Loss Due to Breach and/or claim of one or more Unacceptable Conditions within such ten (10) day period, Buyer shall pay the Second Installment, reduced by the disputed amounts, as applicable, of the claimed Loss Due to Breach and/or the claimed amount of Confirmed Costs (such amounts are herein collectively referred to as "Disputed Amounts"), on the Second Installment Due Date. The Disputed Amounts withheld from the Second Installment will be paid to Seller within ten (10) days after either (A) the date the parties reach an agreement in writing with respect to the amount of the Disputed Amounts, or (B) a determination is made upon the completion of arbitration proceedings as to the amount of the Disputed Amounts. (3) As used herein, the term "Immediately Available Funds" shall mean funds paid by either a cashier's check or certified check drawn on a national banking association acceptable to Seller or a wire transfer of immediately available federal funds, and the term "Confirmed Costs" shall mean (i) all costs actually incurred by Buyer to third-parties to repair and/or remedy Unacceptable Conditions identified in the Default Notice (including, without limitation, reasonable and necessary legal and consulting fees), or (ii) all reasonable and necessary costs estimated in good faith by Buyer to repair and/or remedy Unacceptable Conditions identified in the Default Notice that are either (1) not disputed by Seller as provided above or are related to an Unacceptable Condition that Seller does not elect to remedy and/or repair as provided above, or (2) are disputed by Seller and are ultimately found by arbitration proceedings to be reasonable and necessary with respect to the applicable misrepresentation and/or Unacceptable Condition. When providing Seller with written evidence of the payment of Confirmed Costs, Buyer shall provide, as applicable, a reasonable breakdown of the components of the applicable Confirmed Costs.
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Related to PAYMENT OF SECOND INSTALLMENT

  • Installment Payments For purposes of Code Section 409A, Employee’s right to receive any installment payments pursuant to this Agreement shall be treated as a right to receive a series of separate and distinct payments. Whenever a payment under this Agreement specifies a payment period with reference to a number of days, the actual date of payment within the specified period shall be within the sole discretion of the Company.

  • Treatment of Installment Payments Each payment of termination benefits under this Agreement shall be considered a separate payment, as described in Treas. Reg. Section 1.409A‑2(b)(2), for purposes of Section 409A of the Code.

  • Payment of Final Installment The final installment of principal (whether payable by wire transfer or check) of each Note on a Payment Date, the Redemption Date or the Final Scheduled Payment Date will be payable only on presentation and surrender of the Note, subject to Section 2.7(a). The Indenture Trustee will notify each Registered Noteholder of the date the Issuer expects to pay the final installment on any of the Notes, which notice will be delivered no later than five days before that date, and the place where the Notes may be presented and surrendered for payment.

  • Payment of Securities 42 SECTION 4.02.

  • Down Payment The Mortgagor has contributed at least 5% of the purchase price for the Mortgaged Property with his/her own funds.

  • Payment of Principal, Premium, if any, and Interest The Company covenants and agrees for the benefit of the Holders of the Securities that it will duly and punctually pay the principal of and any premium and interest (including any Additional Interest) on the Securities in accordance with the terms of the Securities and this Indenture.

  • Payment of normal interest Subject to the provisions of this Agreement, interest on the Loan in respect of each Interest Period shall be paid by the Borrower on the last day of that Interest Period.

  • Final Payment All items or Automated Clearing House (ACH) transfers credited to your account are provisional until we receive final payment. If final payment is not received, we may charge your account for the amount of such items or ACH transfers and impose a return item charge on your account. Any collection fees we incur may be charged to your account. We reserve the right to refuse or return any item or funds transfer.

  • Payment of Secured Obligations Grantor will pay and perform or cause to be paid and performed the Secured Obligations according to the tenor thereof and all other sums now or hereafter secured hereby as the same shall become due.

  • Payment of Severance Subject to Section 7.13, any severance payments pursuant to Section 5.4(a) hereof shall be paid commencing on the sixtieth (60th) day following the Termination Date (with a lump sum catch-up payment for any installments otherwise payable within sixty (60) days following the Termination Date) and in accordance with the Company’s standard payroll schedule and practices.

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