CONTRACTUAL PAYMENTS Clause Samples
The CONTRACTUAL PAYMENTS clause defines the obligations of one party to make specified payments to the other under the terms of the contract. It typically outlines the amount, timing, and method of payment, and may address issues such as late fees, payment schedules, or acceptable forms of payment. By clearly setting out these payment terms, the clause helps prevent disputes over financial obligations and ensures both parties understand when and how payments are to be made.
CONTRACTUAL PAYMENTS. 2.1. The Borrower hereby COVENANTS with Mogo Auto as follows:
2.1.1. the Borrower will pay the Loan Facility including the interest and any other charges and costs at the times and in the manner stated in the Agreement being in tenor and total amount payable or by such revised Monthly Instalments or such revised repayment period as Mogo Auto may require until the whole of the Loan Facility amount with interest thereon and all other charges and costs shall be fully paid;
2.1.2. the Borrower shall make each such Monthly Instalment punctually on the said respective days so appointed to Mogo Auto (details set out in the Repayment schedule) and shall perform and observe all the covenants, conditions and stipulations herein contained or implied and on the part of the Borrower to be performed and observed;
2.1.3. if any Monthly Instalment shall not be paid by the Borrower to Mogo Auto on the date due for payment, that total amount of principal sum and interest then remaining outstanding shall thereupon immediately become due and Mogo Auto shall be entitled to exercise all or any of Mogo Auto rights hereby and under the Agreement and the law conferred on Mogo Auto; and
2.1.4. the Borrower shall pay to Mogo Auto after as well as before any judgment, interest at the rate agreed and provided in the Agreement; and such other rate or rates as Mogo Auto shall at its sole discretion from time to time decide with full power to Mogo Auto to charge different rates for different accounts and such interest shall be calculated on daily balances and compounded Monthly Instalments from the date thereof until payment in the usual mode of Mogo Auto.
CONTRACTUAL PAYMENTS. 4.1. The Partner shall repay each Loan Amount to the Lender and pay the Interest pursuant to the terms and conditions of this Agreement and each individual Partner’s Loan Agreement.
4.2. After the Partner has received the payment of the principal amount of the loan from the Borrower or any third party as per the Borrower’s Loan Agreement, the Partner is obliged to repay the part of the Loan Amount as per the Loan Agreement related to the respective Borrower’s Loan Agreement that is calculated according to following formula: where (i) PA shall mean the part of the Loan Amount repayable by the Partner to the Lender, (ii) LA shall mean the Loan Amount at the repayment moment, (iii) RF shall mean the Reserved Funds at the repayment moment, (iv) OA shall mean the outstanding principal amount of the Borrower’s Loan at the repayment moment and (v) RA shall mean the payment of the principal amount of the loan received by the Partner from the Borrower or any third party as per the Borrower’s Loan Agreement.
4.3. After the Partner has received the interest payment from the Borrower or any third party as per the Borrower’s Loan Agreement, the Partner is obliged to pay the Interest that is accrued according to the Partner’s Loan Agreement related to the respective Borrower’s Loan Agreement. If the amount of interest payment received from the Borrower or any third party is lower than Interest accrued according to the Agreement, the Partner is obliged to pay the lower of the two amounts.
4.4. The Partner may repay the Loan Amount or a part thereof prior to the deadline specified in the Partner’s Loan Agreement, or unilaterally terminate each Partner’s Loan Agreement and make the Contractual Payments arising from terminated Partner’s Loan Agreement in full amount prior to the deadline specified in the Partner’s Loan Agreement. The Partner by repaying the Loan Amount in full must also make all payments due to the Lender pursuant to the Partner’s Loan Agreement for the time period until the moment, when the Partner has fully settled all of its loan obligations pursuant to the respective Partner’s Loan Agreement.
4.5. If any taxes or dues come in force during the validity period of the Agreement, or the circumstances out of the Lender’s control take place obligating the Lender to make additional payments or reduce the payments related to the Agreement, the Lender shall inform the Partner regarding such changes in writing 30 (thirty) days in advance, by sending the informati...
CONTRACTUAL PAYMENTS. Seller shall be responsible for all costs and expenses, arising in the ordinary course of business with respect to the ownership, operation, use or maintenance of the Property prior to the Effective Time. Buyer shall be responsible for all such costs and expenses arising in the ordinary course of business with respect to the ownership, operation, use or maintenance of the Property on and after the Effective Time.
CONTRACTUAL PAYMENTS. For the service provided by the Central Bank of Iceland under this Agreement, the Ministry of Finance pays the Central Bank 97 ▇.▇▇. per year, in accordance with the following. One-twelfth of this sum shall be paid each month, in accordance with an invoice from the Central Bank, with payment for a given month rendered on the first business day of the following month, beginning on the date this Agreement is signed. The contract amount shall change at each year-end, beginning in January 2011, in accordance with changes in the consumer price index from January to January, with a base index value of 362.9 points. Included in the contractual payments are all expenses for the project as it is specified in this Agreement, including salaries and related expenses, all facilities and equipment necessary to provide the service, travel expense, and expenses for access to information systems. In addition to the contractual payments, the Treasury shall pay expenses for commissions to primary dealers for market making. The Treasury shall also receive interest income from securities repurchase agreements. The Treasury shall also pay the connection and membership fees for the OMX Nordic Exchange and the Icelandic Securities Depository, as well as other fees related to the issuance and administration of Government securities. It shall also cover expenses for credit ratings on individual domestic and foreign Government bond issues, as well as special expenses due to individual foreign borrowings, including expenses for outsourced legal advice and road shows. The Central Bank receives all income from service charges generated by securities lending. If income from service charges is less than 10 ▇.▇▇. per calendar year, the fixed commission as is specified in Paragraph 1, shall increase to match the difference. The difference must be paid by the Ministry of Finance by 1 February of the following calendar year. The Central Bank also receives a commission in the form of a 0.03% discount rate due to securities lending.
CONTRACTUAL PAYMENTS. 4.1. The resident shall pay the landlord the rent for the previous month. The amount of the rent has been specified on the title page of the Agreement and depends on the number of residents using the room. If the lease relationship under the Agreement arises in the first half of a calendar month, i.e. on any day from the first to the fifteenth (incl.) date, the rent subject to payment for the first month shall be 100% of the monthly rent. If the lease relationship under the Agreement arises in the second half of a calendar month, i.e. on any day from the sixteenth (incl.) to the last (incl.) date, the rent subject to payment for the first month shall be 50% of the monthly rent. In addition to the rent, the resident shall pay the landlord as follows for the public utility services provided last month: - for water and sewerage on the basis of the number of residents in the Dormitory - for electricity, heat (heat and hot water) and refuse collection on the basis of the size of the premises used.
4.2. The rent and accessory expenses shall be paid on the basis of invoices issued by the landlord to the resident in the amount and by the due date indicated on the invoice by way of a bank transfer to the landlord’s account. The landlord shall submit to the resident an invoice, sending it to the e-mail address of the resident specified in the Agreement or in a later notice. The invoice shall be deemed as submitted to the resident regardless of whether the resident has opened and read it or not, unless the resident has submitted a complaint to the landlord within five (5) working days as of the issue of the invoice. The resident has the right to submit only reasoned complaints regarding invoices, whereby the complaint must be filed no later than within five (5) working days as of sending the invoice at the landlord’s e-mail address specified in the Agreement or in a later notice. Later complaints shall be taken into account only if there are serious mistakes in them.
4.3. The landlord may unilaterally, by a decision of the manager of the Dormitory, amend the landlord’s price list (incl. The rent, accessory expenses and additional services) by publishing the respective notice on the notice board of the Dormitory, on the website of the Dormitory and by e-mail sent to the e-mail address of the resident specified in the Agreement or in a later notice. A notice of the entry into force of the price list shall be published and sent at least one
(1) month before the entry in...
CONTRACTUAL PAYMENTS. For the service provided under this Agreement, the Ministry of Finance pays the Central Bank 75 ▇.▇▇. per year. One-twelfth of this sum shall be paid monthly against an invoice from the Central Bank and payment for a given month shall be rendered on the first business day of the following month, commencing on November 1, 2007. The contractual amount shall be adjusted at the beginning of each year, commencing January 2009. Accordingly, 50% of the contractual amount (i.e. 37.5 ▇.▇▇.), shall be adjusted to reflect changes in the consumer price index from January to January (but in January 2009 based on changes in the consumer price index from September 2007 to January 2009) from an index base of 273.1, and 50% of the contractual amount (i.e. 37.5 ▇.▇▇.), shall be adjusted to reflect changes in the wage index from November to November (but in January 2009 based on changes in the wage index from July 2007 to November 2008) from an index base of 319.8. Contractual payments cover all expenses on account of the project as specified in this Agreement, including salaries and payroll taxes, all facilities and necessary resources to provide the service, travel expenses, fees for access to information systems, and connection and membership fees for OMX and the Icelandic Securities Depository. The Treasury pays the cost of primary dealer fees for market making and receives income from handling fees and issued repurchase agreements.
CONTRACTUAL PAYMENTS. 4.1. The Borrower shall repay the Loan to the Lender and pay the Interest pursuant to the terms and conditions of the Agreement and the Schedule. The Lender shall prepare and send to the Borrower invoices for the Contractual Payments. If the Borrower has not received an invoice, it shall not be released from the obligation to make a payment. The Borrower in this situation shall make a payment pursuant to the Schedule.
4.2. The Lender shall send a Schedule to the Borrower to its e-mail address within 5 (five) business days after the issue of the Loan amount, as well as after the changes to the Interest rate. It shall be considered that the Borrower has received the Schedule on the 3rd (third) day after the expiration of the above term, familiarized itself with this document and accepted it, if the Borrower within 10 (ten) business days after the issue of the Loan amount has not turned to the Lender with a written request to be provided with the Schedule.
4.3. The Borrower shall make the payments by transferring the funds to the Lender’s account. The payment made by the Borrower shall be considered as completed at the moment when it was received in the Lender’s account.
4.4. The Borrower by transfer funds pursuant to the Agreement has an obligation to specify the number of the Agreement or invoice in the purpose for the transfer.
4.5. If the Borrower makes a payment in violation of the provisions of Clause 4.4. of the General Terms and Conditions, the Lender may consider such payment as outstanding until its identification.
4.6. If the deadline of the contractual payment falls into weekend or a holiday, the payment shall be made on the next business day following the day when the contractual payment was due.
4.7. The Borrower may repay the Loan or a part thereof prior to the deadline specified in the Schedule, or unilaterally terminate the Agreement and make the Contractual Payments in full amount prior to the deadline specified in the Schedule. The Borrower repaying the Loan in full amount must also make all payments due to the Lender pursuant to the Agreement, including the Contractual Penalties in the situations specified in the Agreement for the time period until the moment, when the Borrower has fully settled all of its loan obligations pursuant to this Agreement. The Lender shall issue an invoice to the Borrower for the outstanding amount after the receipt of the Borrower’s application regarding unilateral termination of the Agreement, which the Borrow...
CONTRACTUAL PAYMENTS. The insurance under this item is in respect contractual fines and/or penalties for breach of contract and the amount payable as indemnity hereunder shall be such sum(s) as the Insured shall be legally liable to pay and shall pay in discharge fines and/or penalties incurred in consequence of the Damage for non-completion and/or late completion of orders and/or non-performance and/or late performance or services and/or the inability to meet contract specifications or resultant cancellation of orders.
CONTRACTUAL PAYMENTS. Seller shall be responsible for all rentals, contractual payments, compensation owed to employees, operating costs, expenses, fees, vendor and contractor invoices, ▇▇▇▇▇▇▇▇, Taxes, charges, assessments and other indebtedness and obligations arising from the ownership, operation, use or maintenance of the Property (collectively, "Operating Expenses") prior to the Closing Date; however, Buyer shall reimburse Seller in an amount equal to $4,200 per day for each day from and after the Effective Time through the Closing Date, which shall be deemed full compensation to Seller for the Operating Expenses incurred during that period. Buyer shall be responsible for all such Operating Expenses arising from the ownership, operation, use or maintenance of the Property on and after the Closing Date.
CONTRACTUAL PAYMENTS. 7.1 The Lessee undertakes to make the Vehicle redemption payments and the Interest payments within the terms, in amounts and currency specified in the Schedule. As regards the Contractual payments, Mogo shall prepare and issue invoices/notices to the Lessee for a monthly payment. The Parties may agree to draw up a new Schedule, by determining another date for making Contractual payment.
7.2 The Lessee shall make a payment by a transfer to the account held by Mogo.
7.3 The Lessee has an obligation, by making any payment by transfer under the Agreement, to indicate the number of the Agreement in the payment purpose.
7.4 If the Lessee makes a payment in contradiction to Item 7.3 of the General provisions, Mogo has the right to consider such payment not received until its identification moment. Upon the occurrence of circumstances referred to in Item 7.4. of the Agreement, Mogo undertakes to notify the Lessee in one of the ways of communication referred to in Item 4.9 of the Agreement.
7.5 The Lessee has the right to redeem the Vehicle fully or partly before the expiry of the Lease, by giving a three-day notice to Mogo on the exercise of such right. If the Lessee redeems the Vehicle before the term in full, in such case the Lessee shall pay the Outstanding value of the Vehicle to Mogo. The Interest shall be calculated, assuming that there are 365 (three hundred sixty- five) days in a year.
7.6 In case when the term of Contractual payments falls into a holiday or public holiday, the payments shall be made on the following date.