Examples of Estimated Payment in a sentence
The Estimated Payment is intended to be an approximation of no more than the Specified Percentage.
If such reconciliation determines that XXXX collected less than it was entitled to, then within seven days thereafter, XXXX will debit from the Account all additional amounts to which XXXX was entitled and increase the Estimated Payment so that it is consistent with the Specified Percentage of Merchant(s)’s Receivables from the date of the Agreement through the date of the reconciliation, with the increase being subject to any Cap in place on collections.
If such reconciliation determines that XXXX collected more than it was entitled to, then within seven days thereafter, XXXX will credit to the Account all amounts to which XXXX was not entitled and decrease the Estimated Payment so that it is consistent with the Specified Percentage of Merchant(s)’s Receivables from the date of the Agreement through the date of the reconciliation.
In the event of any fractional calendar month, Tenant shall pay for each day in such partial month a rental equal to 1/30 of the Estimated Payment.
The Estimated Payment is subject to any Cap imposed by Section 3 of the Agreement.