Common use of Amounts and Times of Installment Payments and Additional Payments Clause in Contracts

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. (b) Each Installment Payment will be paid in the amounts and at the times set forth in the attached Payment Schedule, except as otherwise provided herein. If an Installment Payment is due on any day which is not a Business Day, such Installment Payment will be due on the next succeeding Business Day and the Town will make such Installment Payment on such Business Day with no additional interest due thereon. Installment Payments will be sufficient in the aggregate to repay the principal amount of the Advance, together with interest thereon, as the same will become due and payable. The Town will pay any Additional Payments on a timely basis directly to the person or entity to which such Additional Payments are owed. All payments will be made in lawful currency of the United States.

Amounts and Times of Installment Payments and Additional Payments. (a) Subject to the provisions of Article XIII hereof entitled “Limited Obligation of the Town,” XV, the Town will shall 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 component, as provided applicable, on each Installment Payment Date in the amounts set forth in this Agreement Contract and the Payment ScheduleSchedule attached to this Contract. The Town hereby approves the Advance by the Lender Purchaser to the Town pursuant to this Agreement Contract 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. (b) Each Installment Payment will shall be paid in the amounts and at the times set forth in the attached Payment Schedule, except as otherwise provided hereinin this Contract. If an Installment Payment is due on any day which is not a Business Day, such Installment Payment will shall be due on the next succeeding Business Day and the Town will shall make such Installment Payment on such Business Day with no additional interest due thereon. Installment Payments will shall be sufficient in the aggregate to repay the principal amount of the Advance, together with interest thereon, as the same will shall become due and payable. The Town will shall pay any Additional Payments on a timely basis directly to the person or entity to which such Additional Payments are owed. All payments will shall be made in lawful currency of the United States.

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 appr oves the Advance advance of the Purchase Price by the Lender Bank to the Town pursuant to this Agreement Contract in the amount of $1,785,000 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 an interest rate per annum equal to the Interest RateRate and quarter ly installments of principal in arrears beginning March 31, 2002. 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. (b) Each Installment Payment will be paid in the The amounts and at the times for the payment of the principal portion of the Installment Payments are set forth in on the Princi pal Payment Schedule attached Payment Schedule, except as otherwise provided hereinhereto. Each installment of principal and/or interest shall be deemed to be an Installment Payment. If an Installment Payment is due on any a day which is not a Business DayD ay, such s uch Installment Payment will shall be due on the next succeeding Business Busines s Day and the Town will To wn shall make such Installment Payment on such Business Day with no additional interest due thereon. Installment Payments will shall be sufficient in the aggregate to repay pay the principal amount of and interest on the Advance, together with interest thereon, Pur chase Pr ice as the same will become due and payable. The Town will shall pay any Additional Payments on a timely basis directly to the person or entity to which such Additional Payments are owed. All payments will be made in lawful currency T he obligation of the United StatesTown 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.