Common use of Payment Form Clause in Contracts

Payment Form. Such "Payment for the Extended Term" shall be paid in full on the first (1st.) day of the Extended Term. However, COMPANY may, exclusively for the purpose of facilitating such payment, pay the "Payment for the Extended Term" as follows: a) Last three (3) monthly installments of the "Payment for the Extended Term" shall be paid in advance upon the execution of the new Contract, and b) Fifty Seven (57) equal, consecutive and successive monthly installments each one of them in an amount equal to the result of dividing the "Payment for the Extended Term" by sixty (60). Each installment shall be paid in advance on the first (1st.) day of each month during the Extended Term, commencing on the first (1st.) month of the Extended Term.