Interim Installment Payments definition

Interim Installment Payments shall be payable within fifteen days after presentation of BUILDER’s invoice and the “Acceptance Payment” shall be payable upon BUILDER’s invoice and the “Certificate of Completion and Acceptance” of said Vessel signed by BUILDER and OWNER.
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Interim Installment Payments means the payment due upon completion of a Milestone in accordance with Article 5.2 and Exhibit Q.
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Examples of Interim Installment Payments in a sentence

  • For purposes of this Article VIII-F, it is agreed that “as interest may appear” shall be construed to mean that OWNER and “Construction Finance Entity” are entitled to refund of amounts paid by OWNER as Down Payment and Interim Installment Payments, and BUILDER for labor expended and material/equipment purchased but not yet reimbursed.

  • Owner agrees to pay Contract Price for the Vessel to Builder in Interim Installment Payments correlating to the Stage of Completion schedule as set forth in Exhibit O.

  • Payment to OWNER of the Down Payment and Interim Installment Payments in accordance with this Article will not prejudice OWNER as to all other rights and remedies available to OWNER in the event of default as provided in Article IX or in any other provisions within this Agreement.

  • A herein lists causes of default applicable only to the provision for repayment of the Down Payment and Interim Installment Payments.

  • With respect to Interim Installment Payments disputed and resolved pursuant to Section 4.7, payment shall be due within [***] of resolution of such dispute.

  • If BUILDER is in default, the Initial Deposit Payment, Interim Installment Payments and any financing charges paid by OWNER, shall at OWNER's option be promptly repaid to OWNER.

  • The failure, refusal or neglect of the Lazarus Parties to pay any of the Deferred Interim Installment Payments by the respective Deferred Interim Installment Payment Date or the failure to pay the entire Deferred Interim Payment by October 31, 2019.