Payment of Remaining Balance. The remaining balance of the purchase price shall be payable in sixty equal, consecutive monthly installments of principal and interest, with the first payment being due on the first day of the month following the month in which the closing occurs, and subsequent payments being due on the same day of each succeeding month thereafter until the note is paid in full. The payments shall be equal in amount and shall contain both principal and interest computed on the unpaid balance at the annual rate in effect under section 7520 of the Internal Revenue Code of 1986, as amended, during the month in which the closing occurs; provided, however, that in no event shall such rate exceed the maximum contract rate of interest permitted under applicable law. The obligation to make such deferred payments shall be evidenced by an unsecured promissory note executed by the Corporation's duly authorized officer substantially in the form of the note attached hereto as Exhibit A. The Corporation shall have the right to prepay such note in whole or in part at any time without penalty.
Payment of Remaining Balance. If upon Completion of the Northern Wilds, as identified in the Parks and Open Space Plan, a balance remains in the Maintenance Account Balance, Developer, upon Authority’s written request, shall pay Authority an amount equal to the remaining balance of the Maintenance Account Balance. Authority shall restrict the use of such funds to a segregated parks and open space fund, conservancy, or other separate fund or entity with use restricted to operation and maintenance of the parks and open spaces in the Project Area.
Payment of Remaining Balance. Payment in full of all remaining balances shall be due within 21 days (30 days for major holidays & special events or 3 days in Jan. & Feb.) of the Check-in Date. We will use the credit card on file for the remaining balance unless YOU notify us prior to that date. If you don’t wish to use the same credit card, or you want to make other payment arrangements, it is YOUR responsibility to notify us prior to that date.
Payment of Remaining Balance. The remaining balance on the Note of four million eight hundred fifty three thousand four hundred forty-eight dollars and eighty-one cents ($4,853,448.81) (the "Remaining Balance") will be paid at Closing by the Company. Microsoft acknowledges that no interest is payable on the Note. In connection with the Closing, that certain loan agreement, dated May 22, 2003 between Xxxxxxx X. Xxxxxxxx Consultants Ltd., the Company, and Microsoft (the "Loan Agreement") shall be canceled and become null and void and without further force and effect. Microsoft shall release any and all further claims under such Loan Agreement and acknowledges that the payment it receives under Section 1.2 and this Section 1.3 constitutes payment in full under the Note and the Loan Agreement.
Payment of Remaining Balance. No later than October 1, 2022, 1847 Cabinet shall pay to the Holder the sum of $558,734, which represents the full Vested principal amount of the Note, plus accrued interest.
