Examples of Installment Payments in a sentence
From and after the occurrence, and during the continuance, of an Event of Default, the interest rate used to calculate Installment Payments hereunder shall be the Default Rate.
In such event, the Town also shall be required to pay to the Bank all amounts, if any, which may be necessary to reimburse the Bank for any interest, penalties or other charges assessed by the Internal Revenue Service and the Department of Revenue of the State of North Carolina against the Bank by reason of the Bank’s failure to include the interest portion of the Installment Payments (hereinafter called “Interest”) in its gross income for income tax purposes.
Xxxxxxxx agrees to accept advance Rent Installment Payments from Tenant if Tenant so desires.
In the event of loss or damage to the Equipment, the Town shall either (a) continue to make the Installment Payments due hereunder and repair, reconstruct and restore the applicable portion of the Equipment to the satisfaction of the Bank, or (b) prepay in full the principal components of the outstanding Installment Payments in accordance with Section 3.4 hereof.
It is the intention of the parties hereto that the interest portion of the Installment Payments paid by the Town to the Bank under this Contract shall be tax-exempt under Section 103 of the Code.