Installment Purchase Contract definition

Installment Purchase Contract means a contract which is utilized to procure supplies or equipment from a contractor where payment for the supplies or equipment is made in a set of installment payments over a fixed period of time in accordance with the provisions of the contract, and in which the contractor agrees to deliver title of the property to the governmental body in accordance with the terms and conditions of the contract.

Split View

AI-Powered Contracts

Draft, Review & Redline at the Speed of AI

Get StartedBook a Demo

Installment Purchase Contract means a contract which is utilized

Installment Purchase Contract means the Installment Purchase Contract dated March 1, 2014, between the Authority and the City, as originally executed and as it may from time to time be amended or supplemented pursuant to the provisions hereof and thereof.

Examples of Installment Purchase Contract in a sentence

• Installment Contract shall mean that certain Installment Purchase Contract (Flood Mitigation) of even date herewith executed by and among Company, PRF, and the City.

• This Installment Purchase Contract shall be construed and governed in accordance with the laws of the State of California.

• This Installment Purchase Contract may be executed in several counterparts, each of which shall be deemed an original, and all of which shall constitute but one and the same instrument.

• Installment Contract shall mean that certain Installment Purchase Contract (Utility Project) of even date herewith executed by and among Company, PRF, and the City.

• The District will pay and discharge any and all lawful claims for labor, materials or supplies which, if unpaid, might become a lien on the Net Revenues or any part thereof or on any funds in the control of the District prior or superior to the lien of the Installment Payments or which might impair the security of the Installment Purchase Contract; provided the District shall not be obligated to make such payment so long as the District contests such payment in good faith.

• All references herein to “Articles,” “Sections” and other subdivisions or clauses are to the corresponding articles, sections, subdivisions or clauses hereof; and the words “hereby,” “herein,” “hereof,” “hereto,” “herewith,” “hereunder” and other words of similar import refer to this Installment Purchase Contract as a whole and not to any particular article, section, subdivision or clause hereof.

• Amounts on deposit in any fund or account created pursuant to this Installment Purchase Contract shall be invested in Permitted Investments which will, as nearly as practicable, mature on or before the dates when such money is anticipated to be needed for disbursement hereunder.

• There is no Lien on the Net System Revenues with a higher priority than the pledge of the Net System Revenues under the Installment Purchase Contract.

• The funds and accounts and flow of funds set forth in this Article III are hereby established and shall control to the extent inconsistent with any other terms of this Installment Purchase Contract.

• This Second Supplemental Installment Purchase Contract and all the terms and provisions herein contained shall form part of the Installment Purchase Contract as fully and with the same effect as if all such terms and provisions had been set forth in the Installment Purchase Contract.

More Definitions of Installment Purchase Contract

Installment Purchase Contract means that certain Installment Purchase Contract by and between the District and the Corporation, dated as of October 1, 2022 as originally executed and as it may from time to time be amended or supplemented in accordance herewith and therewith.

Installment Purchase Contract means that certain 2010 Installment Purchase Contract executed and entered into as of 1, 2010, by and between the District and the Corporation.

Installment Purchase Contract has the meaning set forth in the recitals hereof.

Installment Purchase Contract means that certain Installment Purchase Contract by and between the District and the Corporation, dated as of July 1, 2019 as originally executed

Installment Purchase Contract has the meaning set forth in the recitals hereof.