Common use of Guaranty Payments Clause in Contracts

Guaranty Payments. Buyer agrees to invoice Seller on or before the 15th Day of each Month during the Term and Seller agrees to pay Buyer an amount of $________ ("Total Guaranty Payment"), payable in five (5) equal installments of $________ ("Monthly Guaranty Payment") on or before the 25th Day of each Month during the Term of this Agreement to compensate Buyer for the use of Buyer's portfolio. Such payments shall be made by wire transfer at such location as Buyer may from time to time designate in writing. "Prorated Guaranty Amount" means the Total Guaranty Payment divided by the total number of months in the Term multiplied by the number of months that have occurred from November 1, 2002 through the date of calculation (prorated for the month in which the date of calculation occurs).

Guaranty Payments. Buyer agrees to invoice Seller on or before the 15th Day of each Month during the Initial Term and Seller agrees to pay Buyer an amount of $________ XX ("Total Guaranty Payment"), payable in five twelve (512) equal installments of $________ XX ("Monthly Guaranty Payment") on or before the 25th Day of each Month during the Initial Term of this Agreement to compensate Buyer for the use of Buyer's portfolio. Such payments shall be made by wire transfer at such location as Buyer may from time to time designate in writing. "Prorated Guaranty Amount" means the Total Guaranty Payment divided by the total number of months in the Initial Term multiplied by the number of months that have occurred from November April 1, 2002 2003 through the date of calculation (prorated for the month in which the date of calculation occurs).