Term and Payments. The Issuer hereby covenants and agrees to pay to the order of GCC and GCC's successors and assigns those principal and interest installment amounts in those sums set forth on EXHIBIT B attached hereto (the "Payments") on or before those dates per installment that are more fully set forth on EXHIBIT B (the "Payment Dates"). It is acknowledged and understood that GCC may assign its rights hereunder to a third party and that notice of said assignment shall be provided to the Issuer and that the Issuer, thereafter, shall look to and consider said assignee as the party to whom all of the Issuer's duties hereunder are owed. The obligation of the Issuer to make the Payments shall not be subject to set-off, counterclaim, or recoupment to the extent permitted by law. The interest is calculated on the basis of a 30/360-day year on the unpaid principal amounts from the Schedule Date of the EXHIBIT B.
Term and Payments. (a) In order to finance the costs of the Project, City hereby sells and conveys any interests it has in the Project to Trustee, without recourse, representation or warranty, for the sum of $10.00 and other valuable consideration had and received. For the amounts payable pursuant hereto (including the Payments), Trustee in turn hereby sells and conveys back to City, without recourse, representation or warranty, and City hereby purchases and accepts, from Trustee, any interests Trustee has in the Project.
(b) Trustee shall have no further obligation to provide funds for the Project, and City shall be entitled to sole and exclusive possession of the Project.
(c) As the purchase price, City shall pay the Payments to Trustee on the dates and in the amounts set forth in the Schedule hereto. (The Interest Portion is interest for purposes of the Code.) This Agreement shall be deemed and construed to be a “net purchase agreement,” and the Payments shall be an absolute net return to Trustee, free and clear of any expenses or charges whatsoever, except as otherwise specifically provided herein. City shall also pay all amounts necessary for compliance with the Continuing Disclosure Undertaking. City shall further also pay to Trustee its fees and expenses in accordance with the provisions of the Trust Agreement and to the United States of America any amounts required by Section 11(b)(ii). City shall receive a credit against amounts so due, equal to any amounts held in the Payment Fund in excess of the amount then required to be in the Payment Fund. If the balance available in the Payment Fund after a Payment is insufficient to make the next required payments of principal and interest due on the Obligations on the next date for payment thereof, City shall pay any such deficiency in sufficient time to prevent default in the payment of principal of or interest on the Obligations falling due on such date.
(d) The obligation of City to pay the amounts described in paragraph (c) hereof (including the Payments) from the sources described herein and to comply with the other provisions hereof shall be absolute and unconditional and shall not be subject to any defense or any right of set-off, abatement, counterclaim, or recoupment arising out of any breach by Trustee of any obligation to City or otherwise, or out of indebtedness or liability at any time owing to City by Trustee. Until such time as all of the payments described in paragraph (c) hereof (including the Payments) sha...
Term and Payments. Installer will perform installation of your PV System and lease it to you beginning on the Interconnection Date. Interconnection Date is the date that the PV System is turned on and generating power. Your Installer will notify you by phone when your PV System is ready to be turned on. Beginning on the Interconnection Date, Installer agrees to lease you the PV System for 20 years (the “Term” of this Agreement.) at no cost to you. During the Term of the lease, you will receive all the electricity generated by the PV System for free. At least thirty (30) days prior to the expiration of the Term, either party may provide the other party with written notice to terminate the Agreement at the end of the Term. In the event of termination, you agree to contact Installer within ninety (90) days to schedule your PV System’s removal, and the PV System will be removed at no cost to you. In the event neither party has provided the other party with notice to terminate prior to the end of the Term, this Agreement will continue until you request that the PV System be removed, at which time it will then be removed at no cost to you. You will continue to receive the free electricity generated by the PV System, and the terms of this Agreement will continue to apply to both parties until you purchase the PV System, elect to have it removed, or your Installer terminates this Agreement. Some substitution of equipment may be necessary due to supply constraints. Due to variation in equipment efficiency, it is possible that the number of modules or inverters may be increased or decreased to achieve the same output. Installer will notify you only if the size of the PV System increases or decreases by more than 5% as a result of equipment substitutions. Other PV System specifications will be provided to you separately. You do not owe any down payments or progress payments for installation of the PV System, nor will you make any other payments during the Term of this Agreement. Instead, you will assign to Installer the rebates and incentive rights as described in Section 7 and consent to Installer’s assignment of those rebates and incentive rights as described in Section 8.
Term and Payments. Lessor hereby leases to Lessee and Lessee hereby leases from Lessor the property
Term and Payments. Lessor hereby leases to Lessee and Lessee hereby leases from Lessor the property described in Exhibit A hereto (hereinafter, with all replacement parts, substitutions, proceeds, increases, additions, accessions, repairs and accessories incorporated therein or affixed thereto, referred to as the "Property") for the amounts to be paid in the sums (the "Lease Payments") and on the dates (the "Lease Payment Dates") set forth in Exhibit B hereto. Except as specifically provided in Section 2 hereof, the obligation of the Lessee to make the Lease Payments called for in Exhibit B hereto shall be absolute and unconditional in all events and shall not be subject to any set-off, defense, counterclaim or recoupment for any reason. The term of the lease hereunder shall commence upon the dated date of the lease and shall continue until the end of the Lessee's current fiscal period and thereafter for such additional fiscal periods as are necessary to complete the anticipated total lease term as set forth in Exhibit B, unless earlier terminated as provided herein. The interest is calculated on the basis of a 30/360-day year on the unpaid principal amounts from the Schedule Date of the EXHIBIT B.
Term and Payments. (a) In order to finance the costs of the Projects, City hereby sells and conveys any interests it has in the Projects to Trustee, without warranty, for the sum of $10.00 and other valuable consideration had and received. For the amounts payable pursuant hereto (including the Payments), Trustee in turn hereby sells and conveys back to City, without warranty, and City hereby purchases from Trustee, any interests Trustee has in the Projects. (City acknowledges that the right of Trustee to sell the Projects arises out of the deposits for the benefit of City to the Costs of Issuance Fund and the Acquisition Fund and that City is receiving good and valuable consideration from both such sales.)
(b) As the purchase price, City shall pay the Payments to Trustee. (The Interest Portion is interest for purposes of the Code.) This Agreement shall be deemed and construed to be a “net purchase agreement,” and the Payments shall be an absolute net return to Trustee, free and clear of any expenses or charges whatsoever, except as otherwise specifically provided herein. City shall further also pay to Trustee its fees and expenses in accordance with the provisions of the Trust Agreement and to the United States of America any amounts required by Section 11(b)(ii).
(1) an amount equal to the difference between (A) the amount of interest that would have been paid to such Owner during the period for which such interest is included in the gross income of such Owner if an Obligation had borne interest at the Taxable Rate, beginning on the Taxable Date (the “Taxable Period”), and (B) the corresponding Interest Portion actually paid to the Owner (or former Owner, as the case may be) during the Taxable Period, and (2) to the extent permitted by applicable law, an amount equal to any interest, penalties or charges owed by such Owner (or former Owner, as the case may be) as a result of the Interest Portion becoming included in the gross income of such Owner (or former Owner, as the case may be), together with any and all
(c) The obligation of City to pay the amounts described in paragraph (b) hereof (including the Payments) from the sources described herein and to comply with the other provisions hereof shall be absolute and unconditional and shall not be subject to any defense or any right of set-off, abatement, counterclaim, or recoupment arising out of any breach by Trustee of any obligation to City or otherwise, or out of indebtedness or liability at any time owing to City by Trus...
Term and Payments. Lessor shall deposit the full principal amount listed above by or on ____________________________________, 20_____ in the following account of Lessee: _________________________________________ _________________________________________ _________________________________________ (unless Lessee provides the Lessor with a written notice instructing the Lessor to do otherwise). All Lease Payments shall be made by Lessee to the following account of the Lessor: _________________________________________ _________________________________________ _________________________________________ (unless Lessor provides the Lessee with a written notice instructing the Lessee to do otherwise). Lease Payments are per the table below. Installment payments shall be monthly and in arrears payable commencing on the due date for Payment #1 listed below, provided, however, if the date Lessee issues a Certificate of Final Acceptance pursuant to Section 1.4 of the Master Lease Purchase Agreement (the “Commencement Date”) is after the due date for Payment #1 listed below, the due date for Payment #1 shall be adjusted to the date that is thirty (30) days after the Commencement Date and all due dates for subsequent payments shall be adjusted to dates that are thirty (30) days after the immediately preceding due date. Lessee has the option to prepay the Lease Payments by paying the Prepayment Balance shown in the table below, plus any other amounts due and owing at the time of prepayment.
Term and Payments. 1.1 This Agreement shall have full force and effect on and from the Commencement Date and shall (unless it is terminated in accordance with its terms) continue in force for a period of [***] from the Commencement Date (the "Initial Term").
1.2 Unless terminated earlier in accordance with its terms (including this section 1.2), this Agreement shall automatically extend for a period of [***] (the "Renewal Term") at the end of the Initial Term and (if applicable) at the end of each Renewal Term. If a party does not wish for this Agreement to continue for a Renewal Term, it must give written notice of termination to the other party no earlier than six (6) months and no later than three (3) months before the end of the Initial Term (or then-current Renewal Term, as the case may be), such notice period not to expire before the end of the Initial Term (or then-current Renewal Term, as the case may be). The Initial Term and any Renewal Term (if applicable) are, together, the "Term" of this Agreement.
1.3 On the Commencement Date, the Client shall pay the Center Set Up Cost to IWG or its nominee.
1.4 IWG shall pay the Client Net Revenue to the Client in accordance with Schedule 3 and shall be entitled to deduct the Operating Costs, the IWG Platform Fee and the IWG Management Fee from Gross Revenue.
Term and Payments. Borrower will pay principal together with interest accrued based on a FOUR (4) YEAR schedule with equal principal monthly payments, PLUS INTEREST AS SET FORTH ABOVE commencing on MAY 1, 2000 and continuing on the first business day of each month thereafter during the term hereof with a final payment to be due and payable on the FIRST DAY OF
Term and Payments. Each funding will be evidenced by a Schedule and carry a 39 (thirty-nine) month term, with timely monthly payments in advance, first payment due at the time of funding, each equal to 3.09% of the Equipment Cost on each Schedule (the “Monthly Rate Factor or MRF”). There is no balloon payment due at the end of the term. The effective rate of the MRF is 12.25%. The MRF will be adjusted to reflect changes in Bank of America Prime Rate, but once funded, the payments remain fixed for the full term. Each draw shall be not less than 550,000 and will include invoices dated in the prior 60 days. Pxxxxx Xxxxxxx — Page 2 For the initial $500,000 facility, warrants to purchase $25,000 (5%) of the lower of Series A preferred at the Series A price per share or Series B preferred at the Series B price per share shall be awarded to Lender. For the follow-on $1,500,000 facility, warrants to purchase $75,000 (5%) of Series B (when issued) at the to be determined Series B price. If Series B has not been issued when the warrant is exercised, than the warrant will be for Series A at the Series A exercise price. The warrants will survive an IPO or merger (unless merger consideration consists of cash or publicly traded securities and has a value of at least three times the warrant exercise price), have an exercise period of seven (7) years, allow for net issuance, and have the same rights and protections as other investors in the stock series.
