Lump Sum or Installment Payments Sample Clauses

Lump Sum or Installment Payments. Any purchaser of Shares pursuant to this Section 2.11 may pay the applicable purchase price in (a) one lump sum by certified or official bank check or by wire transfer of immediately available funds or (b) installment payments evidenced by a promissory note made at the time of purchase, which shall bear interest at the rate of eight (8%) percent per annum. If paid in installment payments, the Stockholder shall pay the purchase price plus accrued interest in twelve (12) equal monthly installments. The promissory note shall contain a provision that in case of default in the payment of principal or interest, all remaining amounts shall become immediately due and payable at the election of the Person to whom the sums are payable. The purchaser shall have the right to pay all or any part of the purchaser’s note at any time or times in advance of maturity without penalty by paying the principal amount to be prepaid together with accrued interest thereon to the date of prepayment.
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Lump Sum or Installment Payments. A Stockholder may pay the purchase price for the Spouse’s Interest in (a) one lump sum by certified or official bank check or by wire transfer of immediately available funds or (b) installment payments evidenced by a promissory note made at the time of purchase, which shall bear interest at the rate of eight (8%) percent per annum. If paid in installment payments, the Stockholder shall pay the purchase price plus accrued interest in twelve (12) equal monthly installments. The promissory note shall contain a provision that in case of default in the payment of principal or interest, all remaining amounts shall become immediately due and payable at the election of the Spouse. The Stockholder shall have the right to pay all or any part of the Stockholder’s note at any time or times in advance of maturity without penalty by paying the principal amount to be prepaid together with accrued interest thereon to the date of prepayment.
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Related to Lump Sum or 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.

  • Lump Sum Payment If an individual JOC Task Order is scheduled for Completion within forty-five (45) days or less, the County will make one payment after thirty (30) days of Work to the Contractor, exclusive of retention. Contractor may request for one payment (including retention payment); however, payment will be made after Final Acceptance of the JOC Task Order.

  • Lump Sum Payments The retiring allowance shall be paid in annual instalments, to a maximum of three

  • Treatment of Each Installment as a Separate Payment For purposes of applying the provisions of Section 409A to this Agreement, each separately identified amount to which the Executive is entitled under this Agreement shall be treated as a separate payment. In addition, to the extent permissible under Section 409A, any series of installment payments under this Agreement shall be treated as a right to a series of separate payments.