Common use of Quarterly Installments Clause in Contracts

Quarterly Installments. The Entity agrees that payment of the Annual Service Charge shall be due and payable to the Township on the Annual Service Charge Payment Dates during the Exemption Term. In the event that the Entity fails to timely pay any installment of the Annual Service Charge, the amount past due shall bear until paid the highest rate of interest permitted under applicable State law then being assessed against other delinquent taxpayers in the case of unpaid taxes or tax liens.

Quarterly Installments. The Entity Each Owner agrees that payment of the Annual Service Charge shall be due and payable to the Township on the Annual Service Charge Payment Dates during Dates, commencing to accrue as of the Exemption TermAnnual Service Charge Start Date. In the event that the Entity an Owner fails to timely pay any installment of the Annual Service Charge, the amount past due shall bear until paid the highest rate of interest permitted under applicable State law then being assessed against other delinquent taxpayers in the case of unpaid taxes or tax liens.