Term and Payments. The Issuer hereby covenants and agrees to pay to the order of GCC and GCC's successors and assigns those principal and interest installment amounts in those sums set forth on EXHIBIT B attached hereto (the "Payments") on or before those dates per installment that are more fully set forth on EXHIBIT B (the "Payment Dates"). It is acknowledged and understood that GCC may assign its rights hereunder to a third party and that notice of said assignment shall be provided to the Issuer and that the Issuer, thereafter, shall look to and consider said assignee as the party to whom all of the Issuer's duties hereunder are owed. The obligation of the Issuer to make the Payments shall not be subject to set-off, counterclaim, or recoupment to the extent permitted by law. The interest is calculated on the basis of a 30/360-day year on the unpaid principal amounts from the Schedule Date of the EXHIBIT B.
Term and Payments. Installer will perform installation of your PV System and lease it to you beginning on the Interconnection Date. Interconnection Date is the date that the PV System is turned on and generating power. Your Installer will notify you by phone when your PV System is ready to be turned on. Beginning on the Interconnection Date, Installer agrees to lease you the PV System for 20 years (the “Term” of this Agreement.) at no cost to you. During the Term of the lease, you will receive all the electricity generated by the PV System for free. At least thirty (30) days prior to the expiration of the Term, either party may provide the other party with written notice to terminate the Agreement at the end of the Term. In the event of termination, you agree to contact Installer within ninety (90) days to schedule your PV System’s removal, and the PV System will be removed at no cost to you. In the event neither party has provided the other party with notice to terminate prior to the end of the Term, this Agreement will continue until you request that the PV System be removed, at which time it will then be removed at no cost to you. You will continue to receive the free electricity generated by the PV System, and the terms of this Agreement will continue to apply to both parties until you purchase the PV System, elect to have it removed, or your Installer terminates this Agreement. Some substitution of equipment may be necessary due to supply constraints. Due to variation in equipment efficiency, it is possible that the number of modules or inverters may be increased or decreased to achieve the same output. Installer will notify you only if the size of the PV System increases or decreases by more than 5% as a result of equipment substitutions. Other PV System specifications will be provided to you separately. You do not owe any down payments or progress payments for installation of the PV System, nor will you make any other payments during the Term of this Agreement. Instead, you will assign to Installer the rebates and incentive rights as described in Section 7 and consent to Installer’s assignment of those rebates and incentive rights as described in Section 8.
Term and Payments. Lessor hereby leases to Lessee and Lessee hereby leases from Lessor the property described in Exhibit A hereto (hereinafter, with all replacement parts, substitutions, proceeds, increases, additions, accessions, repairs and accessories incorporated therein or affixed thereto, referred to as the "Property") for the amounts to be paid in the sums (the "Lease Payments") and on the dates (the "Lease Payment Dates") set forth in Exhibit B hereto. Except as specifically provided in Section 2 hereof, the obligation of the Lessee to make the Lease Payments called for in Exhibit B hereto shall be absolute and unconditional in all events and shall not be subject to any set-off, defense, counterclaim or recoupment for any reason. The term of the lease hereunder shall commence upon the dated date of the lease and shall continue until the end of the Lessee's current fiscal period and thereafter for such additional fiscal periods as are necessary to complete the anticipated total lease term as set forth in Exhibit B, unless earlier terminated as provided herein.
Term and Payments. (a) In order to finance the costs of the Projects, City hereby sells and conveys any interests it has in the Projects to Trustee, without warranty, for the sum of $10.00 and other valuable consideration had and received. For the amounts payable pursuant hereto (including the Payments), Trustee in turn hereby sells and conveys back to City, without warranty, and City hereby purchases from Trustee, any interests Trustee has in the Projects. (City acknowledges that the right of Trustee to sell the Projects arises out of the deposits for the benefit of City to the Costs of Issuance Fund and the Acquisition Fund and that City is receiving good and valuable consideration from both such sales.)
Term and Payments. Lessor shall deposit the full principal amount listed above by or on ____________________________________, 20_____ in the following account of Lessee: _________________________________________ _________________________________________ _________________________________________ (unless Lessee provides the Lessor with a written notice instructing the Lessor to do otherwise). All Lease Payments shall be made by Lessee to the following account of the Lessor: _________________________________________ _________________________________________ _________________________________________ (unless Lessor provides the Lessee with a written notice instructing the Lessee to do otherwise). Lease Payments are per the table below. Installment payments shall be monthly and in arrears payable commencing on the due date for Payment #1 listed below, provided, however, if the date Lessee issues a Certificate of Final Acceptance pursuant to Section 1.4 of the Master Lease Purchase Agreement (the “Commencement Date”) is after the due date for Payment #1 listed below, the due date for Payment #1 shall be adjusted to the date that is thirty (30) days after the Commencement Date and all due dates for subsequent payments shall be adjusted to dates that are thirty (30) days after the immediately preceding due date. Lessee has the option to prepay the Lease Payments by paying the Prepayment Balance shown in the table below, plus any other amounts due and owing at the time of prepayment.
Term and Payments. 1.1 This Agreement shall have full force and effect on and from the Commencement Date and shall (unless it is terminated in accordance with its terms) continue in force for a period of 9 years from the Commencement Date (the "Initial Term").
Term and Payments. Section 3.1 Term . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3 Section 3.2 Payments . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3 Section 3.3 Form of Payment . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4 Section 3.4
Term and Payments. Lease Term and Lease Payments are per Amortization & Payment Schedule. [If the Payment Due Dates are not defined, they shall be defined as the day of each period in the Amortization & Payment Schedule commencing with the Acceptance Date as stated in the Certificate of Acceptance, attached as Exhibit B, hereto.] If the parties enter into an escrow agreement for the acquisition of the Property, then the escrow agreement shall be attached hereto. In lieu of the Acceptance Date for commencement of Lease Payments, the date of deposit of the Property Cost into the escrow by Lessor shall be used. Lessee shall have the option to prepay the Lease Payments due under this Property Schedule by paying the Termination Amount shown in the Amortization & Payment Schedule, plus any other amounts due and owing at the time of prepayment, subject to per diem adjustment.
Term and Payments. Borrower will pay principal together with interest accrued based on a FOUR (4) YEAR schedule with equal principal monthly payments, PLUS INTEREST AS SET FORTH ABOVE commencing on MAY 1, 2000 and continuing on the first business day of each month thereafter during the term hereof with a final payment to be due and payable on the FIRST DAY OF
Term and Payments. The primary term of this lease shall be for a period of three years commencing September 1, 1996 and shall terminate on September 1, 1999. It is expressly understood and agreed by the parties that the length of this lease is a material term and that LESSOR would not have entered into this lease agreement without the term of the lease agreed to herein. LESSEE shall pay, prior to taking possession of the leased premises, the nonrefundable sum of $4,000, which shall represent payment for the first month of the lease agreement and prepayment of the last one month(s) of the lease agreement. Thereafter, LESSEE shall pay as rental payment for the leased premises the sum of $2,000 per month, said payment to be made by LESSEE to LESSOR on the ______ day of each month. Said monthly rent payment to be made by LESSEE to LESSOR at its address set forth above, unless LESSOR subsequently designates a different address in writing. The parties expressly understand and agree that timely rent payments are required herein and that there shall accrue a late fee penalty of Fifteen Dollars ($15.00) per day after the __________ of each month until payment in full is made hereunder. Additionally, prior to taking possession of the leased premises, the LESSEE shall pay to LESSOR the sum of -0- as a cleaning and security deposit.
