MINIMUM PAYMENT OPTIONS Sample Clauses

The Minimum Payment Options clause defines the lowest amount a party is required to pay under a contract, typically in the context of installment payments or recurring charges. This clause outlines the specific payment thresholds, such as a fixed dollar amount or a percentage of the outstanding balance, that must be met each payment period regardless of the total amount owed. By establishing a clear minimum payment requirement, the clause ensures consistent cash flow for the payee and helps prevent default by setting manageable payment expectations for the payer.
MINIMUM PAYMENT OPTIONS. 8.1 The Monthly Payment amount due by the Customer to PCUL shall be paid by the agreed payment due date as follows: (a) by a part payment equal to or greater than ten per cent (10%) of the total monthly due amount which shall be inclusive of: the Outstanding Principal for the month, the interest charged or accrued for the month and monthly Vehicle tracking fees; and
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MINIMUM PAYMENT OPTIONS. 11.1 The Monthly Payment amount due by the Customer to Momentum shall be paid by the agreed payment due date as follows: (a) by a part payment equal to or greater than eight per cent (8%) of the total monthly due amount which shall be inclusive of: the Outstanding Principal for the month, the interest charged or accrued for the month and monthly Vehicle tracking fees; and (b) such other payment notified to the Customer from time to time by Momentum. 11.2 All payments to Momentum shall be made via Mpesa pay bill, cash deposit or transfer to Momentum’s bank account specified by Momentum as per the details set out in Appendix 2 hereunder. Payments may also be made through standing order deductions from the Customer’s bank account or via any other means as specified by Momentum. 11.3 The Customer expressly accepts that if he/she fails to pay any Outstanding Amounts when due, or which may be declared due prior to, on or past the date when it would have become due, or commits any Event of Default, then, Momentum shall, at its sole discretion, without prejudice, exercise all or any of Momentum’s rights and remedies available in these Terms and Conditions and applicable laws. 11.4 The Customer accepts that, Momentum or its appointed representatives and agents, may at any time follow up with the Customer for payment against amounts due on the Customer’s account. The Customer also agrees to pay all costs (including legal costs) of collection of all outstanding Monthly Payments, all charges incurred by Momentum for related and incidental matters including, collection charges for amounts due, penalty fees for returned payments and similar expenses, and in the event of legal action initiated, any legal charges including, advocate costs incurred by Momentum in obtaining legal advice in connection with the Revolving Credit Facility and the Customer’s dealings with Momentum or incurred by Momentum in any legal, arbitration or other proceedings arising out of any dealings in respect the Revolving Credit Facility and all other Fees, expenses and taxes, duties, impositions and expenses incurred in complying with the Customer’s Requests.
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Related to MINIMUM PAYMENT OPTIONS

  • Payment Options  Paper Invoice - Supplier submits a paper invoice to the organisation as standard for each purchase order received.  Embedded Purchase Card - This payment option allows the supplier to charge the cost of the goods/services provided to a VISA/MasterCard electronic Purchasing Card (ePC) belonging to a Contracting Authority. The supplier shall receive payment from VISA/MasterCard therefore negating the need to provide an invoice to the Contracting Authority.  Consolidated Electronic Invoice - Supplier submits a single invoice covering multiple purchase orders in an electronic file.  Self-Billing - Once the Goods Received Note (GRN) has been entered on PECOS P2P, a payment instruction is automatically sent to the Contracting Authority’s finance system to make payment to the supplier for the goods/services received.  Electronic Invoices - Supplier submits an electronic invoice either directly to PECOS P2P/relevant system (cXML) and/or via the SG eInvoicing Solution, which can go again direct to PECOS P2P or a Contracting Authority’s finance system.

  • Minimum Payment Overtime worked on a Saturday or Sunday will be paid for at the rate of double Ordinary Rates. Employees required to work on a Saturday or Sunday will be afforded a minimum 4 hours work, or be paid as if for 4 hours at the aforementioned overtime rates.

  • Minimum Payments (a) Where the employee is under 45 years of age, the employer shall pay the employee Less than 1 year Nil 1 year and less than 2 years 4 weeks pay 2 years and less than 3 years 7 weeks pay 3 years and less than 4 years 10 weeks pay 4 years and less than 5 years 12 weeks pay 5 years and less than 6 years 14 weeks pay 6 years and over 16 weeks pay. (b) Where the employee is 45 years of age or over, the employer shall pay the employee in accordance with the following scale: Less than 1 year Nil 1 year and less than 2 years 5 weeks pay 2 years and less than 3 years 8.75 weeks pay 3 years and less than 4 years 12.5 weeks pay 4 years and less than 5 years 15 weeks pay 5 years and less than 6 years 17.5 weeks pay 6 years and over 20 weeks pay

  • Lump Sum Payment If an individual JOC Task Order is scheduled for Completion within forty-five (45) days or less, the County will make one payment after thirty (30) days of Work to the Contractor, exclusive of retention. Contractor may request for one payment (including retention payment); however, payment will be made after Final Acceptance of the JOC Task Order.

  • Maximum Payment The maximum period or aggregate of periods of accident make-up pay to be made by an Employer will be a total of 39 weeks for any one injury.