Common use of Amount and Timing Clause in Contracts

Amount and Timing. The District shall pay Rental Payments, comprising principal and interest components, in installments of the amounts and at the times set forth in the Schedule of Rental Payments attached as Exhibit B hereto. The interest components of the Rental Payments shall be paid by the District as and constitute interest paid on the principal components of the Rental Payments. In addition, from and after the occurrence and continuance of an Event of Default, the interest component shall be at the Default Rate. At least thirty (30) days prior to each Payment Date (unless otherwise agreed upon between the District and the Assignee), the Assignee, as assignee of the Corporation, shall deliver to the District an invoice stating the aggregate amount of interest and principal becoming due and payable on the Rental Payments on such Payment Date. The Assignee has agreed to send such invoice or similar notice solely as an accommodation to the District, and any failure of the Assignee to timely deliver such invoice or similar notice shall not affect the District’s obligation to make Rental Payments and shall result in no liability of any kind to the Assignee. The invoice to the District shall, unless otherwise directed in the future by the District, be mailed to: Santa ▇▇▇▇▇ Unified School District Attention: Accounts Payable ▇▇▇▇ ▇▇▇▇▇▇▇▇ ▇▇▇▇ Santa Clara, CA 95051

Amount and Timing. The District shall pay Rental Payments, comprising principal and interest components, in installments of the amounts and at the times set forth in the Schedule of Rental Payments attached as Exhibit B hereto. The interest components of the Rental Payments shall be paid by the District as and constitute interest paid on the principal components of the Rental Payments. In addition, from and after the occurrence and continuance of an Event of Default, the interest component shall be at the Default Rate. At least thirty (30) days prior to each Payment Date (unless otherwise agreed upon between the District and the Assignee), the Assignee, as assignee of the Corporation, shall deliver to the District an invoice stating the aggregate amount of interest and principal becoming due and payable on the Rental Payments on such Payment Date. The Assignee has agreed to send such invoice or similar notice solely as an accommodation to the District, and any failure of the Assignee to timely deliver such invoice or similar notice shall not affect the District’s obligation to make Rental Payments and shall result in no liability of any kind to the Assignee. The invoice to the District shall, unless otherwise directed in the future by the District, be emailed to ▇▇▇▇▇▇@▇▇▇▇▇.▇▇▇ and mailed to: Santa ▇▇▇▇▇ Unified School District Attention: Accounts Payable ▇▇▇▇ ▇▇▇▇▇▇▇▇ ▇▇▇▇ Santa Clara, CA 95051