Common Due Date definition

Common Due Date. (1) the fifth day of a calendar month if the Product Financing Period or A/R Advance Term, whichever is applicable, expires on the first through tenth of such calendar month; (2) the fifteenth day of a calendar month if the Product Financing Period or A/R Advance Term, whichever is applicable, expires on the eleventh through twentieth of such calendar month; and (3) the twenty-fifth day of a calendar month if the Product Financing Period or A/R Advance Term, whichever is applicable, expires on the twenty-first through the last day of such calendar month.

AI-Powered Contracts

Draft, Review & Redline at the Speed of AI

Common Due Date. (1) the fifth day of a calendar month if the A/R Advance Term expires on the first through tenth of such calendar month; (2) the fifteenth day of a calendar month if the A/R Advance Term expires on the eleventh through twentieth of such calendar month; and (3) the twenty-fifth day of a calendar month if the A/R Advance Term expires on the twenty-first through the last day of such calendar month.

Common Due Date. Section 3(a).

Examples of Common Due Date in a sentence

Such fee shall be due and payable on the Common Due Date for such Product Advance.
Each Product Advance shall be due and payable on the Common Due Date for such Product Advance.
Customer shall repay each Product Advance no later than the Common Due Date for such Product Advance.
Notwithstanding any other provision of this Agreement, Customer shall not (i) request more than one PRO Advance in respect of any Product Advance; and (ii) request a PRO Advance for any Common Due Date on which Customer will take a discount offered by IBM Credit for invoice amounts paid in full within fifteen days of the invoice date under IBM Credit's High Turnover Option ("HTO") Program.
If a Reschedule Request is approved by IBM Credit, the PRO Term shall commence on the Common Due Date for the Product Advance or part thereof being paid by the PRO Advance and shall end on the last day of the approved PRO Term.
Notwithstanding any other provision of this Agreement, Borrower shall not (i) request more than one PRO Advance in respect of any Product Advance; and (ii) request a PRO Advance for any Common Due Date on which Borrower will take a discount offered by IBM Credit for invoice amounts paid in full within fifteen days of the invoice date under IBM Credit's High Turnover Option ("HTO") Program.
The Reschedule Request must state the PRO Advance amount requested, and the month, day and year of the Common Due Date, as set forth in Customer's applicable monthly billing statement from IBM Credit, of the Product Advance or part thereof to be rescheduled.
Customer cannot use the PRO to reschedule any Product Advance or part thereof on any Common Due Date on which Customer will take a discount offered by IBM Credit for invoice amounts paid in full within fifteen (15) days of IBM Credit's Date of Note.
The Request for PRO Advance shall specify (i) the amount of the PRO Advance the PRO Advance Term for such PRO Advance; and (ii) for each PRO Advance, the month, day and year of the Common Due Date, as set forth in Borrower's applicable billing statement from IBM Credit, for the Product Advance to which the PRO Advance is to be applied.

More Definitions of Common Due Date

Common Due Date means the date, if any, set forth in Exhibit 4 as of which Insurance Policies may be purchased for a Participant.

Common Due Date. (1) the fifth day of a calendar month if the Free Financing Period expires on the first through tenth of such calendar month; (2) the fifteenth day of a calendar month if the Free Financing Period expires on the eleventh through twentieth of such calendar month; and (3) the twenty-fifth day of a calendar month if the Free Financing Period expires on the twenty-first through the last day of such calendar month.

Common Due Date as defined in Section 3.3 of this Addendum.

Common Due Date means any of the fifth (5th), fifteenth (15th) and twenty-fifth (25th) days of each month and, with respect to each Advance, shall be determined on the basis of a year of twelve 30 day months. Each Advance for Financed Products shall accrue a finance charge on the unpaid principal amount thereof, for each day commencing on the day after the Free Financing Period, if any, for such Advance ends, or if no such Free Financing Period shall be in effect, from the date of invoice for such Advance, in each case, until the date such Advance is due pursuant to the preceding sentence, at a rate per annum (the "Base Finance Charge") equal to the sum of the Prime Rate for such day plus 0.875% (or such other rate Borrower and IBM Credit may agree to from time to time). For Working Capital Advances, such finance charge will be as specified in Section 3(d). Borrower shall also pay IBM Credit: (i) a service charge in the amount of $4,000 per month (or such other amount as Borrower and IBM Credit may agree to from time to time), (ii) a flat fee of nine (9) basis points on the amount of each invoice financed by IBM Credit when payments by Borrower to IBM Credit are made via check (there shall be no such flat fee when payments by Borrower to IBM Credit are made via wire transfer) and (iii) a fee equal to .25% of the amount of each unpaid Shortfall Amount (including any unpaid Daily Shortfall Amount) payable to IBM Credit. The charges due for such advances, including but not limited to the service charge and the other fees referenced above, if applicable, will be due and payable on the 10th day of the month following the date of the IBM Credit invoice for such charges.