Examples of Installment Payment in a sentence
Each Installment Payment shall be treated as a separate payment for purposes of Treasury Regulations Section 1.409A-2(b)(2)(iii).
Each Installment Payment comprises an interest component and a principal component, as set forth on “Part 2--Payment Schedule” to each Appendix.
The LEA will not take or permit any of its officers to take any action with respect to the Agreement or the Buses which would cause the interest component of any Installment Payment payable under any Appendix to become subject to federal income taxation under the Code and will take all actions legally and reasonably within its powers necessary to ensure that the interest will not become subject to federal income taxation under the Code.
The LEA agrees to provide written notice to CONTRACTOR of its intention to prepay not less than thirty (30) days prior to the applicable Installment Payment Date.
Furthermore, if any date on which an Installment Payment is payable is not a Business Day, then payment of the Installment Payment on such date shall be made on the next succeeding day that is a Business Day, and without any interest or other payment in respect of any such delay.