Final Payment definition

Final Payment is a payment (in addition to and not a substitution for the regular monthly payments of principal plus accrued interest) due on the earliest to occur of (a) the Maturity Date, or (b) the acceleration of any Term Loan, or (c) the prepayment of a Term Loan pursuant to Section 2.2(c) or (d), equal to the original principal amount of such Term Loan multiplied by the Final Payment Percentage, payable to Lenders in accordance with their respective Pro Rata Shares.

Final Payment means the last and final monetary compensation made to Contractor for any portion of the Work that has been completed and accepted for which payment has not been made, amounts owing to adjustments to the final Contract Sum resulting from approved change orders, and release of Contractor’s retainage.

Final Payment means the last and final monetary compensation made to Contractor

Examples of Final Payment in a sentence

• Final payment does not relieve Engineer of the responsibility of correcting any errors and/or omissions resulting from his/her/its negligence.

• Final payment may be made to certain select subcontractors whose Work is satisfactorily completed prior to the total completion of the Project but only upon approval of the Owner.

• Final payment to CONTRACTOR in connection with the cessation of operations and/or termination of a Master Contract will be subject to the same documentation standards described for all payment claims for regular ongoing operations.

• Final payment is to be made sixty (60) days subsequent to filing of Notice of Completion.

• Final payment constituting the unpaid balance of the Cost of the Work and the Construction Manager's fee, shall be due and payable as described in Article 17.7 after the Owner has accepted occupancy of the Project, provided that the Project be then finally completed, that the Construction Manager has verified by their signature that he has completed all items specified on the attached Exhibit L, and that this Agreement has been finally performed.

More Definitions of Final Payment

Final Payment shall have the meaning set forth in Section 4.4.

Final Payment means the final payment by the Province to the Recipient in respect of the Project as described in and to be paid in accordance with Article J.8.0 (Final Payment).

Final Payment means the last payment to the Trade Contractor, including retainage, in connection with the Trade Contractor Work.

Final Payment is a payment (in addition to and not a substitution for the regular monthly payments of principal plus accrued interest) due on the Maturity Date for such Equipment Advance equal to the Loan Amount for such Equipment Advance multiplied by the Final Payment Percentage.

Final Payment when used in connection with the Senior Indebtedness means the full and final and payment in immediately available funds of all of the Senior Indebtedness and the termination in writing of the Senior Lenders’ obligations to make loans or other advances or financial accommodations to the Loan Parties under the Senior Documents. The repayment of any Senior Indebtedness pursuant to a Refinancing permitted hereunder shall not constitute “Final Payment” of the Senior Indebtedness being Refinanced.

Final Payment means such amount as may be necessary to repay the Loan in full and any other amounts owing by the Borrower to the Lenders pursuant to the Financing Documents.

Final Payment means payment in funds which are (or have become) immediately available, under applicable law are irreversible, and are not subject to any security interest, xxxx, xxxx or other encumbrance.