Five Installment Payments Clause Samples

Five Installment Payments. The Fixed Interest Account Balances may be -------------------------- paid (on a pro rata basis among Employee Account Balances) to another funding vehicle under the Plan (including any MetLife investment alternative under the Plan not included in this contract) as designated by you in accordance with the following schedule, provided that any such transfer will be to the default investment alternative under the Plan, if any (i.e., the Investment Funds in which funds are allocated if you do not elect an Investment Fund), except for any Employee Account Balance as to which you elect another allocation. The first such installment will be payable within 31 days after the Discontinuance Date and the following four installments will be paid annually on the anniversary of that date in the amounts shown below. Payment Amount of Payment ------- ----------------- First Payment One-fifth of the amount, including accrued interest, then remaining in the Fixed Interest Account Second Payment One-fourth of the amount, including accrued interest, then remaining in the Fixed Interest Account Third Payment One-third of the amount, including accrued interest, then remaining in the Fixed Interest Account Fourth Payment One-half of the amount, including accrued interest, then remaining in the Fixed Interest Account Fifth Payment The amount, including accrued interest, then remaining in the Fixed Interest Account While installment payments are being made under this option (2), we will continue to credit interest on the unpaid portion of the Account Balances in accordance with Section 4.1. Furthermore, the withdrawal charges described in Section 7.3 will be waived. Any other payment method mutually agreeable to both the Contractholder and MetLife may be arranged, subject to any required regulatory approvals. Separate Account Distribution ----------------------------- Upon discontinuance we will pay a single lump sum payment of the Account Balances in the Separate Account. The amount of the single sum payment will be the amount remaining in the Separate Account as of the end of the Business Day last preceding the date of such payment. Payment of the single sum will be made in cash on a date within 31 days after the Discontinuance Date unless a later payment date is agreed to by you and us. If in our judgment such payment would involve the sale of assets in the Separate Account for which there is then no readily available market, we will defer the determination and payment of all ...
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Related to Five Installment Payments

  • Installment Payments Notwithstanding Section 3.01, the Executive may elect by written notice to receive any payments due to him hereunder by way of periodic or installment payments.

  • Treatment of Installment Payments Each payment of termination benefits under this Agreement shall be considered a separate payment, as described in Treas. Reg. Section 1.409A‑2(b)(2), for purposes of Section 409A of the Code.

  • Recurring Instalment Payments 15.1 Where you have a Citibank ATM/Debit Card which allows you to make Card Transactions: (a) if you use your Citibank ATM/Debit Card to purchase goods or services by instalments or to make payments on a recurring basis, you thereby authorize us to pay such instalments for you as they become due and debit the amount paid by us from the Designated Account or any other Account; (b) if your right to use your Citibank ATM/Debit Card is suspended or the Designated Account is closed, we may at our option and without prejudice to any of our rights and remedies, stop paying the said instalments for you, or debit the aggregate sum of the remaining instalments to the Designated Account or any other Account or require you to pay the same forthwith. 15.2 You also agree to be bound by any other specific terms and conditions governing such recurring/instalment payment scheme. In the event of conflict, such specific terms and conditions are to prevail over the provisions of this Condition 15 but only to the extent necessary to give full effect to those terms and conditions.

  • Settlement Payments On the first Business Day of each month (“Interest Settlement Date”), Agent will advise each Lender by telephone, fax or telecopy of the amount of such Lender’s share of interest and fees on the Loans as of the end of the last day of the immediately preceding month. Provided that such Lender has made all payments required to be made by it under this Agreement, Agent will pay to such Lender, by wire transfer to such Lender’s account (as specified by such Lender in writing to Agent) not later than 3:00 p.m., New York City time, on the next Business Day following the Interest Settlement Date, such Lender’s share of interest and fees on the Loans. Such Lender’s share of interest on the Loans will be calculated by adding together the Daily Interest Amounts for each calendar day of the prior month for the Loan and multiplying the total thereof by the Interest Ratio for the Loan. Such Lender’s share of the Unused Line Fee payable under Section 3 of the Schedule for a month shall be an amount equal to (a)(i) such Lender’s Pro Rata Share of the Maximum Credit Limit during such month, less (ii) such Lender’s average Daily Loan Balance of the Loans for such month, multiplied by (b) the percentage specified regarding the Unused Line Fee in Section 3 of the Schedule. Such Lender’s share of all other fees paid to Agent for the benefit of Lenders hereunder shall be paid and calculated based on such Lender’s Pro Rata Share of the Total Credit Exposure, except that the Loan Fee payable under Section 3 of the Schedule shall be allocated $400,000 to Ally and $100,000 to PWB. To the extent Agent does not receive the total amount of any fee owing by Borrowers under this Agreement, each amount payable by Agent to a Lender under this Section 8A.3(A)(3) with respect to such fee shall be reduced on a pro rata basis based on their Pro Rata Share. Any funds disbursed or received by Agent pursuant to this Agreement, including, without limitation, under Sections 8A.2, 8A.3(A)(1), and 8A.4, prior to the Settlement Date for such disbursement or payment shall be deemed advances or remittances by Ally, in its capacity as a Lender, for purposes of calculating interest and fees pursuant to this Section 8A.3(A)(3).

  • Rent Payments ▇▇▇▇▇▇ agrees to pay rent to the Landlord during the term of this Lease in equal monthly installments of $975, which shall be paid on or before the first day of the month. ▇▇▇▇▇▇ agrees that if rent is not paid in full on or before 1st day of the month, Tenant will pay a late charge of $97.50 as allowed by applicable Georgia law.The prorated rent from the commencement of this Lease to the first day of the following month is $975, which amount shall be paid at the execution of this Lease. ▇▇▇▇▇▇ agrees that rent shall be paid in lawful money of the United States via the ▇▇▇▇▇ Residents App. Rent payments shall be made payable to and mailed or delivered to the following address: P.O. Box 17942 Atlanta, GA 30316. All notices from Tenant to Landlord under this Lease and applicable Georgia law shall be delivered to the above address. ▇▇▇▇▇▇ agrees that rent will be deemed paid only once Landlord or Landlord’s agent receives the rent monies, either by mail or by delivery to the above address. If there are multiple Tenants signed to this Lease, all such Tenants are jointly, severally and individually bound by, and liable under, the terms and conditions of this Lease. A judgment entered against one Tenant shall be no bar to an action against other Tenants.