Downpayment definition

Downpayment means a part of the Total Price of the Goods and/or Services which shall be paid by the Customer to Dealer/Provider together with other Total Cash Payment;

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Downpayment as such term is defined in Section 2(a) hereof.

Downpayment means a payment that the buyer pays or agrees to pay to the seller in cash or property value or money’s worth at or prior to delivery by the seller to the buyer of the motor vehicle described in the conditional sale contract. The term shall also include the amount of any portion of the downpayment the payment of which is deferred until not later than the due date of the second otherwise scheduled payment, if the amount of the deferred downpayment is not subject to a finance charge. The term does not include any administrative finance charge charged, received or collected by the seller as provided in this chapter.

Examples of Downpayment in a sentence

If for any reason Closing does not occur and either party gives Notice (as defined in paragraph 25) to Escrowee demanding payment of the Downpayment, Escrowee shall give prompt Notice to the other party of such demand.
If interest is held for the benefit of the parties, it shall be paid to the party entitled to the Downpayment and the party receiving the interest shall pay any income taxes thereon.
However, ▇▇▇▇▇▇▇▇ shall have the right at any time to deposit the Downpayment and the interest thereon with the clerk of a court in the county in which the Premises are located and shall give Notice of such deposit to Seller and Purchaser.
Escrowee shall (not) (Delete if inapplicable) hold the Downpayment in an interest-bearing account for the benefit of the parties.
If interest is not held for the benefit of the parties, the Downpayment shall be placed in an ▇▇▇▇ account or as otherwise permitted or required by law.

More Definitions of Downpayment

Downpayment the difference between (x) the NEKP for an Engine Kit less any advance deposits made by Borrower to the Exporter in respect of such Engine Kit (as reflected in the invoice for such Engine Kit) and (y) the Financed Amount for such Engine Kit.

Downpayment means any lump sum payment to Alliance for any rights to market or manufacture the Product in the Alliance Territory, specifically excluding payments (i) for the purchase of equity as Alliance at fair market value or (ii) based on sales of the Product.

Downpayment means the amount referred to in sections 4 (3) (a) and (4) (a); "goods"

Downpayment has the meaning set forth in Section 3.01.

Downpayment. 15% of Equipment Cost for the first $6,500,000 of Equipment Cost, and 100% of Equipment Cost in excess of $6,500,000, for an Equipment Portion, minus any amounts that Borrower paid to Vendor before the relevant Purchase Date (including deposits or letter-of-credit proceeds applied to such Equipment Portion), pursuant to the Purchase Agreement, relating to such Equipment Portion.

Downpayment shall further include all interest accrued thereon, if any; and

Downpayment means an amount, including the value of any property used as a trade-in, paid to a seller to reduce the cash price of goods or services purchased in a credit sale transaction. A deferred portion of a downpayment may be treated as part of the downpayment if it is payable not later than the due date of the second otherwise regularly scheduled payment and is not subject to a finance charge.