Payment Terms Contract Clauses (351)

Payment Terms. A. Commencing on the first (1st) day of July, 2018 and on the first (1st) day of each successive month thereafter (subject to earlier prepayment as provided in Section 4D hereof or as otherwise provided herein or in any other Loan Document), until the Loan has been fully paid and satisfied in cash, Borrower shall make payments to Lender of interest on the outstanding principal balance of the indebtedness evidenced by this Note. B. The Loan shall be due and payable, and Borrower hereby promises t...o pay the outstanding principal amount of the Loan to Lender, together with all accrued interest thereon then remaining unpaid and all other unpaid amounts, charges, fees and expenses outstanding under this Note or under any of the other Loan Documents, on the Maturity Date, subject to earlier prepayment as provided in Section 4D hereof or as otherwise provided herein or in any other Loan Document 6. Late Payments; Default Rate; Fees. If any payment is not paid when due (whether by acceleration or otherwise) or within ten (10) days thereafter due under this Note or any of the other Loan Documents, Borrower agrees to pay to Lender a late payment fee of five percent (5%) of the payment amount, with a minimum fee of $20.00. After an Event of Default, Borrower agrees to pay to Lender a fixed charge of $25.00, or Borrower agrees that Lender may, without notice, increase the Interest Rate by three percentage points (3.00%) (the "Default Rate") for the period of time the default is continuing, whichever is greater. Lender may impose a non-sufficient funds fee for any check that is presented for payment that is returned for any reason. In addition, Lender may charge loan documentation fees as may be reasonably determined by the Lender. View More

Payment Terms. All payments received hereunder shall first be applied to the payment of any expense or charges payable hereunder or under any of the other Loan Documents (as hereinafter defined), then to accrued and unpaid interest, with the balance applied to principal, or in such other order as Lender shall determine in its sole discretion. Payments on the Loan shall be as follows: (a) Payments of interest only shall be due and payable in four (4) quarterly installments on March 13, 2019, June 13, 2019, Sept...ember 13, 2019, and December 13, 2019, interest being calculated on the unpaid principal each day principal is outstanding; and (b) Thereafter, payments of principal, together with accrued and unpaid interest on the outstanding principal balance of the Loan, shall be due and payable in twenty (20) quarterly installments over a term of sixty (60) months (the "Repayment Term") payable on March 13, June 13, September 13 and December 13 of each year during the Repayment Term, after which time the entire outstanding principal balance of the Loan, all accrued and unpaid interest thereon and any other unpaid amounts shall be finally due and payable in full on December 13, 2024 (the "Maturity Date"). Quarterly installments on the Loan shall be established by Lender and in the amount necessary to amortize the outstanding principal balance of the Loan as of the end of the interest only period described in Section 1(a) above over the Repayment Term described in this Section 1(b). View More

Payment Terms. At the Closing (the "Closing"), the Escrow Agent shall release the Purchase Price to the Company and the Company shall deliver the certificate(s) representing the Shares to the Purchaser.

Payment Terms. Payments to Tatum should be made within 30 days of receipt of invoice by electronic transfer in accordance with the instructions set forth below or such alternative instructions as provided by Tatum from time to time. In the event Company voluntarily files a Chapter 11 bankruptcy petition (or becomes subject to an involuntary bankruptcy petition), it shall, as soon as practicable thereafter, seek entry of an Order from the U.S. Bankruptcy Court having jurisdiction over Company's bankruptcy case(...s), in form and substance acceptable to Tatum, (a) assuming this Agreement, (b) authorizing payment to Tatum as part of any employee wage motion filed by or on behalf of Company, or (c) naming Tatum as a ‘critical vendor' and authorizing the payment of Tatum's pre-petition invoices. Company acknowledges that its failure to timely procure either such Order shall automatically serve as grounds for Tatum's immediate rejection/termination of this Agreement. Company acknowledges that Tatum is relying on this provision as an inducement to enter into this Agreement and provide further services to Company from and after the date hereof. Any amounts not paid when due may be subject to a periodic service charge equal to the lesser of 1.5% per month and the maximum amount allowed under applicable law, until such amounts are paid in full, including assessed service charges. In lieu of terminating this Agreement, Tatum may suspend the provision of any Services if amounts owed are not paid in accordance with the terms of this Agreement. Bank Name and Address: [****] Beneficiary: [****] Beneficiary Account Number: [****] ABA Transit/Routing Number: [****] Please reference the Company's name in the body of the payment. View More

Payment Terms. 3.01 Payments. (a) On the first Payment Date after the Effective Date, all accrued and unpaid interest on the Outstanding Principal Balance shall be paid by Maker. (b) Beginning on the second Payment Date after the Effective Date (i.e., the first Payment Date at least one full calendar month following the Effective Date), the Original Principal Balance and all accrued and unpaid interest on the Outstanding Principal Balance shall be paid by Maker in two hundred and forty (240) equal monthly paym...ents of $57,314.48. 1 20-Year Secured Promissory Note | Big Sky Hospitality Holdings, Inc. (c) The Makers may prepay this Note, in whole or in part, at any time without penalty. 3.02 Application of Payments. Payment of any sums due to the Holder under the terms of this Note shall be made in United States Dollars by check or wire transfer at the option of the Maker. Payment shall be made at the address last appearing on the records of the Maker as designated in writing by the Holder hereof from time to time. If any payment hereunder would otherwise become due and payable on a day on which banks are closed or permitted to be closed in Houston, Texas, such payment shall become due and payable on the next succeeding Business Day. The forwarding of such funds shall constitute a payment of outstanding principal and/or interest hereunder and shall satisfy and discharge the liability for principal and/or interest on this Note to the extent of the sum represented by such payment. 3.03 Maturity Date. The entire Outstanding Principal Balance, all accrued and unpaid interest, and all other amounts outstanding hereunder shall be due and payable on October 1, 2031. View More

Payment Terms. Borrower shall pay the principal and any accrued interest in full on or before Due Date.