Common use of INVESTMENT SCHEDULE Clause in Contracts

INVESTMENT SCHEDULE. IMLF interest in Glacier Medical will be earned based on the amount invested and is based upon a vesting plan staged to reflect risk. Stage 1 investments total five hundred thousand dollars [$500,000] and represents twenty five percent [25%] interest in Glacier Medical. This sum will be paid to Glacier incrementally, in monthly payments of twenty five thousand dollars [$25,000]. Each such payment will represent a 1.25% interest in Glacier Medical. Investments shall be made monthly and where possible in a sum not less than $25,000. In any such case where by IMLF requests an extension time in which to make the payment or deferment of such payment for good cause, then Glacier Medical shall grant such extension of time or deferment upon receipt of a written request. Such requests will be granted provided IMLF is no more than four payments in arrears. If arrears exceed four scheduled payments, each request shall be considered by Glacier Medical on a case by case basis and Glacier Medical will have the option of granting such request or terminating the contract in accordance with 6B below. IMLF may make payments in any amount exceeding the $25,000 monthly amount at any time and in any amount as may be deemed necessary by IMLF. In such case were an incremental investment exceeds the $25,000 monthly payment, such additional funding will be made in blocks of $5,000 [unit], and each unit will represent 0.25% interest earned in Glacier Medical.