Extended Payment Due Date definition
Examples of Extended Payment Due Date in a sentence
Reseller shall pay to Administrative Agents for their own account and the account of Lenders interest on each Extended Pay Outstanding on the Extended Payment Due Date with respect to each such Extended Pay Outstanding.
Specifically payment for identified Floorplanned Inventory (by Transaction Statement) cannot be designated beyond the Extended Payment Due Date.
To be valid, the Purchase Option must be exercised not later than three months after the Extended Payment Due Date.
Extended Pay Notification — a communication sent via electronic mail messaging providing confirmation of the acceptance by Administrative Agents of an item of Floorplanned Inventory for application of the Extended Payment Due Date.
Extended Payment Due Date — the date identified as the “Extended Payment Due Date” on the Extended Pay Notification, not to exceed 30 days past the Payment Due Date.
Upon Reseller’s election to pay for Financed Inventory on the Extended Payment Due Date, CPC will send Reseller a CPC Extended Pay Notification.
Up to a maximum aggregate amount of $10,000,000 of the Line of Credit may be used at Reseller’s election, to pay for Financed Inventory on the Extended Payment Due Date or may be used for revolving credit loans for general working capital purposes (the “Revolving Credit Commitment”).
Without prejudice to the other sanctions mentioned herein, if Luxco still fails to comply with its obligation to pay the purchase price of the Class B Shares within thirty (30) Business Days (the “Period”) after the Extended Payment Due Date, Shurgard shall have the right to purchase (the “Purchase Option”) all or part of the Shares already held by Luxco for a price equal to the amount paid by Luxco for such Shares.
If Luxco still fails to pay the Exercise Price on the Extended Payment Due Date, Luxco shall be liable to Shurgard for interest on the late payment of the Exercise Price accruing at a rate equal to 10 % per annum from the Extended Payment Due Date until such payment is made (“Default Interest”).
With respect to Financed Inventory, Dealer will immediately pay CPC the principal Indebtedness on the earliest occurrence of any of the following events: (a) on the Payment Due Date, (b) on the Extended Payment Due Date (for Financed Inventory subject to the Extended Payment Due Date) and (c) immediately when inventory is lost, stolen or damaged (collectively, the “Loss Date”).