Common use of Time and Amount Clause in Contracts

Time and Amount. Subject to the provisions of Article X hereof (regarding prepayment of Lease Payments), the City agrees to pay to the Authority, its successors and assigns, as annual rental for the use and possession of the Property, the Lease Payments (denominated into interest portions and principal portions) to be due and payable in arrears on the days specified in Exhibit B hereto or if such a day is not a Business Day then on the next succeeding Business Day (each such day a “Lease Payment Date”).