Principal Payment Option Sample Clauses

Principal Payment Option. (a) The Principal Payment Option may only be offered by the Bank to a borrower which is a member country of the Bank. For the purposes of the Principal Payment Option described in this Contract, the term "Borrower" should be understood as the member country of the Bank. The Borrower may request to the Bank, and the Bank may accept, that this Loan be eligible for the Principal Payment Option in accordance with the provisions set forth in this Contract. Upon acceptance by the Bank of the Borrower's request, the Borrower may be allowed to exercise the Principal Payment Option during the accrual period of the transaction fee applicable to the Principal Payment Option set forth in Article 3.05 of these General Conditions by requesting the modification of the Amortization Schedule following the occurrence of an Eligible Natural Disaster in accordance with Article 3.06 of these General Conditions.
Sample 1
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Principal Payment Option. (a) The Principal Payment Option may only be offered by the Bank to a borrower which is a member country ofthe Bank. Far the purposes ofthe Principal Payment Option described in this Contract, the term "Borrower" should be understood as the member country of the Bank. The Borrower may request to the Bank, and the Bank may accept, that this Loan be eligible far the Principal Payment Option in accordance with the provisions set farth in this Contract. Upon acceptance by the Bank of the Borrower's request, the Borrower may be allowed to exercise the Principal Payment Option during the amortization period ofthe Loan by requesting the modification ofthe Amortization Schedule fallowing the occurrence ofan Eligible Natural Disaster in accordance with Article 3.06 ofthese General Conditions.
Sample 1

Related to Principal Payment Option

  • Payment Options The exercise price shall be paid by one or any combination of the following forms of payment that are applicable to this option, as indicated on the cover page hereof:

  • Grant Amount The maximum amount payable by the State under this Agreement shall not exceed $2,000,000

  • Payment Due Date Unless City notifies the Contractor that a dispute exists, Payment shall be made within [Enter number of days, generally ≥ 30] calendar days, measured from (1) the delivery of goods and/or the rendering of services or (2) the date of receipt of the invoice, whichever is later. Payment is deemed to be made on the date on which City has issued a check to Contractor or, if Contractor has agreed to electronic payment, the date on which City has posted electronic payment to Contractor.

  • Lump Sum Payment Upon award of the contract for this improvement, the LA will pay to the STATE, in lump sum, an amount equal to 80% of the LA’s estimated obligation incurred under this Agreement, and will pay to the STATE the remainder of the LA’s obligation (including any nonparticipating costs) in a lump sum, upon completion of the project based upon final costs. Method B - Monthly Payments. Upon award of the contract for this improvement, the LA will pay to the STATE, a specified amount each month for an estimated period of months, or until 80% of the LA’s estimated obligation under the provisions of the Agreement has been paid, and will pay to the STATE the remainder of the LA’s obligation (including any nonparticipating costs) in a lump sum, upon completion of the project based upon final costs.

  • E-PAYMENT Contractor agrees to accept all payments in United States currency via the State of Mississippi’s electronic payment and remittance vehicle. The agency agrees to make payment in accordance with Mississippi law on “Timely Payments for Purchases by Public Bodies,” which generally provides for payment of undisputed amounts by the agency within forty-five (45) days of receipt of invoice. Mississippi Code Annotated § 31-7-301 et seq.

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