Common use of Term Installments Clause in Contracts

Term Installments. the remainder of the Purchase Price, in the amount of seventy-five million Reais (BRL 75,000,000.00) (“Term Installments”), shall be due to Sellers in installments duly adjusted by the positive inflation variation measured by the IGP-DI (General Price Index - Internal Availability) and added by compensatory interest of five percent (5%) per year between the Closing Date and the date of each effective payment, to be paid as stated below: (a) six (6) semestral installments in the amount of eight million, three hundred and thirty-three thousand Reais (BRL 8,333,000.00) each, with the first one being due on the twenty-fourth (24th) month after the Closing Date, and the other subsequent installments being due each six (6) months until the 54th month after the Closing Date; and (b) one (1) final installment in the amount of twenty-five million and two thousand Reais (BRL 25,002,000.00), due in the sixtieth (60th) month after the Closing Date.