Scheduled Payment Amounts. FTA must receive from Lender by the third calendar day of every month or the next business day thereafter if the third calendar day of the month is not a business day ("FTA Due Date"), the FTA’s share of all sums Lender received from Borrower as regularly scheduled payments during the preceding month. On any payment not received in the offices of FTA by 5 PM Eastern Time on the second business day after the due date, FTA will, on behalf of SBA, levy a late payment penalty of five percent (5%) of the amount remitted late, or $100, whichever is greater (subject to a maximum penalty of $5,000 per month per reporting unit). This late payment penalty will be paid through FTA along with the late payment penalty identified in Section 3.5 of this Agreement.
Scheduled Payment Amounts. Payments under this Agreement shall be begin upon the consummation of ABN's Chapter 11 reorganization plan in the Chapter 11 Case (the "CONSUMMATION DATE") and conclude upon the third anniversary of the Consummation Date. Specifically, payments shall be made as follows: (i) $300,000 to be paid on the Consummation Date; (ii) $200,000 to be paid six months after the Consummation Date; (iii) $500,000 to be paid upon the first anniversary of the Consummation Date; (iv) $300,000 to be paid eighteen months after the Consummation Date; (v) $300,000 to be paid upon the second anniversary of the Consummation Date; (vi) $300,000 to be paid thirty months after the Consummation Date; and (vii) $300,000 to be paid upon the third anniversary of the Consummation Date. Each of the foregoing payments shall be referred to as a "SCHEDULED PAYMENT AMOUNT." A Scheduled Payment Amount shall be deemed made upon the date of receipt by ABN of confirmation of a federal funds wire transfer to the Bank in respect of such Scheduled Payment Amount (each, a "RECEIPT"). A Scheduled Payment Amount shall be deemed timely made if the Receipt with respect to such Scheduled Payment Amount is dated on or prior to the date when such Scheduled Payment Amount is due pursuant to the terms of this Agreement (a "Due Date"), and such Receipt indicates that the wire transfer was effected on or before such Due Date. Nothing herein shall preclude ABN from making timely payment of a Scheduled Payment Amount by means other than federal funds wire transfer.
