Amounts and Times of Installment Payments and Additional Payments. The City shall repay the Purchase Price in semi-annual payments of the interest components of the Installment Payments beginning on June 1, 2016 and continuing each December 1 and June 1 (each a “Payment Date”) thereafter and annual payment of the principal components of the Installment Payments beginning of June 1, 2016 and each June 1 thereafter until June 1, 2021, as provided in this Contract and the attached Payment Schedule. The City hereby approves the advance of the Purchase Price by the Lender to the City pursuant to this Contract in the amount of not to exceed $[9,500,000] to be repaid by the City in the Installment Payments as provided in this Contract at an interest rate per annum of 1.575%. Each installment shall be deemed to be an Installment Payment and shall be paid in the amounts and at the times set forth on the attached Payment Schedule except as provided herein. If an Installment Payment is due on a day which is not a Business Day, such Installment Payment shall be due on the next succeeding Business Day and the City shall make such Installment Payment on such Business Day with no additional interest due thereon. Installment Payments shall be sufficient in the aggregate to pay the principal and interest components of the Purchase Price as the same become due and payable. The City shall pay Additional Payments on a timely basis directly to the person or entity to which such Additional Payments are owed.
Amounts and Times of Installment Payments and Additional Payments. (a) Subject to the provisions of Article XV, the Town shall repay the Advance in Installment Payments consisting of an interest component and a principal component, as applicable, on each Installment Payment Date in the amounts set forth in this Contract and the Payment Schedule attached to this Contract. The Town hereby approves the Advance by the Purchaser to the Town pursuant to this Contract in the amount of $ to be repaid by the Town in Installment Payments at an interest rate per annum equal to the Interest Rate.
Amounts and Times of Installment Payments and Additional Payments. As consideration for the Corporation’s advance of the Purchase Price to the County, the County shall repay to the Trustee, as assignee of the Corporation, the Purchase Price in installments with interest as provided in this Contract and the Payment Schedule attached hereto (each an “Installment Payment”). Each installment shall be deemed to be an Installment Payment and shall be paid in the amounts and at the times set forth on the Payment Schedule except as provided herein. There shall be credited against the amount of Installment Payments otherwise payable hereunder amounts equal to (1) earnings derived from the investment of the Bond Fund and the Prepayment Fund and (2) any other money not constituting Installment Payments required to be deposited in the Bond Fund. Installment Payments shall be sufficient in the aggregate to repay the Purchase Price together with interest thereon. As further consideration for the Corporation’s advance of the Purchase Price to the County, the County shall also pay the Additional Payments, as required herein, on a timely basis directly to the person or entity to which such Additional Payments are owed.
Amounts and Times of Installment Payments and Additional Payments. (a) Subject to the provisions of Article XV, the County shall repay the Advance in Installment Payments consisting of an interest component and a principal component, as applicable, on each Installment Payment Date in the amounts set forth in this Contract and the Payment Schedule attached to this Contract. The County hereby approves the Advance by the Bank to the County pursuant to this Contract in the amount of $13,000,000 (less a fee of $5,900 to be paid directly by the Bank to its legal counsel) to be repaid by the County in Installment Payments at an interest rate per annum equal to the Interest Rate.
Amounts and Times of Installment Payments and Additional Payments. (a) The County shall repay the obligation created by this Contract in annual installment payments consisting of an interest component and a principal component as provided in this Contract and Payment Schedule attached to this Contract. The County hereby approves the Advance by the Bank to the County pursuant to this Contract in the amount of $4,396,129 to be repaid by the County in Installment Payments as provided in this Contract at an interest rate per annum equal to the Interest Rate.
Amounts and Times of Installment Payments and Additional Payments. 7 Section 3.2. Default Rate 7 Section 3.4. Prepayment of Advance 7
Amounts and Times of Installment Payments and Additional Payments. (a) The County shall repay the Amount Advanced, together with interest thereon, in installments as provided in this Contract. Each installment is an Installment Payment and is due and payable on its respective Installment Payment Date.
Amounts and Times of Installment Payments and Additional Payments. The Town hereby appr oves the advance of the Purchase Price by the Bank to the Town pursuant to this Contract in the amount of $3,833, 000 to be repaid by the Town in the Installment Payments as provided in this Contract. The Town shall repay the Purchase Price in quarterly installments of interest in arrears on the last day of each December, March, June and September of each year, beginning December 31, 2001 at the Interest Rate and quarter ly installments of principal in arrears beginning March 31, 2002. The amounts and the times for the payment of the principal portion of the Installment Payments are set forth on the Princi pal Payment Schedule attached hereto. Each installment of principal and/or interest shall be deemed to be an Installment Payment. If an Installment Payment is due on a day which is not a Business D ay, s uch Installment Payment shall be due on the next succeeding Busines s Day and the To wn shall make such Installment Payment on such Business Day with no additional interest due thereon. Installment Payments shall be sufficient in the aggregate to pay the principal of and interest on the Pur chase Pr ice as the same become due and payable. The Town shall pay Additional Payments on a timely basis directly to the person or entity to which such Additional Payments are owed. T he obligation of the Town to make the Installment Payments and Addit ional Payments her eunder shall be deemed satisfied and discharged to the extent of the corresponding payment made by the YMCA to the Bank under the Lease Agreement.
Amounts and Times of Installment Payments and Additional Payments. (a) Subject to the provisions of Article XIII hereof entitled “Limited Obligation of the Town,” the Town will repay the Advance in semi-annual Installment Payments on each March 1 and September 1, commencing March 1, 2024, consisting of an interest component and a principal component as provided in this Agreement and the Payment Schedule. The Town hereby approves the Advance by the Lender to the Town pursuant to this Agreement in the amount of $1,785,000 to be repaid by the Town in Installment Payments at an interest rate per annum equal to the Interest Rate. Notwithstanding the foregoing, upon the occurrence and during the continuation of an Event of Default, all amounts payable under this Agreement shall bear interest at the Default Rate until paid.
