Final Payment definition

Final Payment is a payment (in addition to and not a substitution for the regular monthly payments of principal plus accrued interest) due on the earliest to occur of (a) the Maturity Date, or (b) the acceleration of any Term Loan, or (c) the prepayment of a Term Loan pursuant to Section 2.2(c) or (d), equal to the original principal amount of such Term Loan multiplied by the Final Payment Percentage, payable to Lenders in accordance with their respective Pro Rata Shares.
Final Payment means the last and final monetary compensation made to Contractor for any portion of the Work that has been completed and accepted for which payment has not been made, amounts owing to adjustments to the final Contract Sum resulting from approved change orders, and release of Contractor’s retainage.
Final Payment means the last and final monetary compensation made to Contractor

Examples of Final Payment in a sentence

  • A Claim disputing the amount of Final Payment must be submitted within fourteen (14) Days of the effective date of Final Payment.

  • This assignment shall be made and become effective at the time City tenders Final Payment to Contractor, without further acknowledgment by the parties.

  • Contractor shall retain these documents for a period of three (3) years after the later of (i) Final Payment or (ii) final resolution of all Contract Disputes and other disputes, or (iii) for such longer period as may be required by law.

  • Upon submission of the Final Payment Statement for Works under Clause 10.4, the Contractor shall give to the Authority, with a copy to the DTA, a written discharge confirming that the total of the Final Payment Statement represents full and final settlement of all monies due to the Contractor in respect of this Contractor for all the Works arising out of this Contract, except for any monies due to either Party on account of any Defect.

  • For the avoidance of doubt, before issuing the Final Payment Certificate, the DTA shall ascertain from the Authority all amounts previously paid by the Authority and for all sums to which the Authority is entitled, the balance, if any, due from the Authority to the Contractor or from the Contractor to the Authority, as the case may be.


More Definitions of Final Payment

Final Payment means the final payment by the Province to the Recipient in respect of the Project as described in and to be paid in accordance with Article J.8.0 (Final Payment).
Final Payment shall have the meaning set forth in Section 4.4.
Final Payment means the last payment to the Trade Contractor, including retainage, in connection with the Trade Contractor Work.
Final Payment when used in connection with the Senior Indebtedness means the full and final and payment in immediately available funds of all of the Senior Indebtedness and the termination in writing of the Senior Lenders’ obligations to make loans or other advances or financial accommodations to the Loan Parties under the Senior Documents. The repayment of any Senior Indebtedness pursuant to a Refinancing permitted hereunder shall not constitute “Final Payment” of the Senior Indebtedness being Refinanced.
Final Payment is a payment (in addition to and not a substitution for the regular monthly payments of principal plus accrued interest) due on the Maturity Date for such Equipment Advance equal to the Loan Amount for such Equipment Advance at such time multiplied by the Final Payment Percentage.
Final Payment is a payment (in addition to and not a substitution for the regular monthly payments of principal and accrued interest) equal to four percent (4%) of the aggregate original principal amount of all Growth Capital Advances.
Final Payment means a payment (in addition to and not a substitution for the regular monthly payments of principal plus accrued interest) equal to the original principal amount of the Term Loans made under this Agreement multiplied by three and one-quarter percent (3.25%).