Common use of Installment Amount Clause in Contracts

Installment Amount. Two Million Dollars ($2,000,000) due on or before December 15, 2008, with interest accruing thereon at the rate of 5% per annum from September 23, 2008, forward until paid." 2. Paragraph 2.2 of the Agreement, "Purchase Price and Payment" is hereby deleted in its entirety and the following inserted in place thereof:

Installment Amount. Two Million Dollars ($2,000,000) due on or before December 15February 13, 20082009, with interest accruing thereon at the rate of 58% per annum annum, or the highest rate permitted by law, whichever rate is less, from September 23, 2008, 2008 forward until paid." 2. Paragraph 2.2 of the Agreement, "Purchase Price and Payment" is hereby deleted in its entirety and the following inserted in place thereof: