Common use of Payment of the Note Clause in Contracts

Payment of the Note. The Principal Amount of this Note shall be paid by the Company as follows: (a) The Company shall pay the Holder Thirty Seven Thousand Five Hundred Dollars ($37,500) on January 1, 2017; and (b) The Company shall make twenty three (23) equal monthly installments of principal and interest of Five Thousand Seven Hundred Twenty One Dollars and Eight Cents ($5,721.08) beginning February 15, 2017, and continuing on the 15th of each month thereafter. If any payment of principal or interest under this Note shall not be made within ten (10) business days when due, a late charge of ten percent (10%) of the outstanding payment amount may be charged by Holder for the purpose of defraying the expenses incident to handling such delinquent payments. Such late charge represents a reasonable sum considering all of the circumstances existing on the date of this Note and represents a fair and reasonable estimate of the costs that will be sustained by Holder due to the failure of Company to make timely payments.”

Payment of the Note. The Principal Amount of this Note shall be paid by the Company as follows: (a) The Company shall pay the Holder Thirty Seven Twelve Thousand Five Hundred Dollars ($37,50012,500) on January 1September 30, 20172013; and (b) The Company shall make twenty three (23) equal monthly installments of principal and interest of Five One Thousand Seven Eight Hundred Twenty One Eleven Dollars and Eight Sixty Five Cents ($5,721.081,811.65) beginning February 15September 30, 2017, 2013 and continuing on the 15th 30th of each month thereafter. If any payment of principal or interest under this Note shall not be made within ten (10) business days when due, a late charge of ten percent (10%) of the outstanding payment amount may be charged by Holder for the purpose of defraying the expenses incident to handling such delinquent payments. Such late charge represents a reasonable sum considering all of the circumstances existing on the date of this Note and represents a fair and reasonable estimate of the costs that will be sustained by Holder due to the failure of Company to make timely payments.”

Payment of the Note. The Principal Amount of this Note shall be paid by the Company as follows: (a) The Company shall pay the Holder Thirty Seven Thousand Five Hundred Dollars ($37,500) on January 1, 20172015; and (b) The Company shall make twenty three (23) equal monthly installments of principal and interest of Five Thousand Seven Four Hundred Twenty One Thirty Four Dollars and Eight Ninety Four Cents ($5,721.085,434.94) beginning February 151, 2017, 2015 and continuing on the 15th 1st of each month thereafter. If any payment of principal or interest under this Note shall not be made within ten (10) business days when due, a late charge of ten percent (10%) of the outstanding payment amount may be charged by Holder for the purpose of defraying the expenses incident to handling such delinquent payments. Such late charge represents a reasonable sum considering all of the circumstances existing on the date of this Note and represents a fair and reasonable estimate of the costs that will be sustained by Holder due to the failure of Company to make timely payments.”

Payment of the Note. The Principal Amount of this Note shall be paid by the Company as follows: (a) The Company shall pay the Holder Thirty Seven Thousand Five Hundred Dollars ($37,500) on January 1December 31, 20172013; and (b) The Company shall make twenty three (23) equal monthly installments of principal and interest of Five Thousand Seven Four Hundred Twenty One Thirty Four Dollars and Eight Ninety Four Cents ($5,721.085,434.94) beginning February 15December 31, 2017, 2013 and continuing on the 15th 30th of each month thereafter. If any payment of principal or interest under this Note shall not be made within ten (10) business days when due, a late charge of ten percent (10%) of the outstanding payment amount may be charged by Holder for the purpose of defraying the expenses incident to handling such delinquent payments. Such late charge represents a reasonable sum considering all of the circumstances existing on the date of this Note and represents a fair and reasonable estimate of the costs that will be sustained by Holder due to the failure of Company to make timely payments.”

Payment of the Note. The Principal Amount of this Note shall be paid by the Company as follows: (a) The Company shall pay the Holder Thirty Seven Thousand Five Hundred Dollars ($37,500) on January 1September 30, 20172013; and (b) The Company shall make twenty three (23) equal monthly installments of principal and interest of Five Thousand Seven Four Hundred Twenty One Thirty Four Dollars and Eight Ninety Four Cents ($5,721.085,434.94) beginning February 15September 30, 2017, 2013 and continuing on the 15th 30th of each month thereafter. If any payment of principal or interest under this Note shall not be made within ten (10) business days when due, a late charge of ten percent (10%) of the outstanding payment amount may be charged by Holder for the purpose of defraying the expenses incident to handling such delinquent payments. Such late charge represents a reasonable sum considering all of the circumstances existing on the date of this Note and represents a fair and reasonable estimate of the costs that will be sustained by Holder due to the failure of Company to make timely payments.”