Payment Terms Contract Clause Examples | Business Contracts (2024)

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Payment Terms. Maker agrees to remit payment in full of all principal and interest due hereunder to Holder on or before April 30, 2019 ("Maturity"). Accrued interest on this Note shall be payable at Maturity to the Holder. Maker shall have the right to prepay this Note by paying all of the principal and accrued interest owing under the Note at the time of prepayment. ... All payments shall be applied first to late charges, then to interest, then to principal and shall be credited to the Maker's account on the date that such payment is physically received by the Holder.

Payment Terms. Maker agrees to remit payment in full of all principal and interest due hereunder to Holder on or before April 30, 2019 ("Maturity"). Accrued interest on this Note shall be payable at Maturity to the Holder. Maker shall have the right to prepay this Note by paying all of the principal and accrued interest owing under the Note at the time of prepayment. All payments shall be applied first to late charges, then to inte...rest, then to principal and shall be credited to the Maker's account on the date that such payment is physically received by the Holder.

Payment Terms. Maker agrees to remit payment in full of all principal and interest due hereunder to Holder on or before April 30, 2019 ("Maturity"). Accrued interest on this Note shall be payable at Maturity to the Holder. Maker shall have the right to prepay this Note by paying all of the principal and accrued interest owing under the Note at the time of prepayment. All payments shall be applied first t...o late charges, then to interest, then to principal and shall be credited to the Maker's account on the date that such payment is physically received by the Holder.

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Payment Terms. All payments of principal of, and interest upon, this Note shall be made by the Maker to the Payee in cash in immediately available funds in lawful money of the United States by wire transfer to the bank account designated by the Payee in writing from time to time. All payments under this Note shall be made to the Payee without withholding, defense, set-off, counterclaim or deduction. Payments and prepayments made to the Payee by the Maker hereunder shall be applied first... to expenses recoverable under Section 13, then accrued interest and then to principal. If the due date of any payment under this Note would otherwise fall on a day that is not a business day, such due date shall be extended to the next succeeding business day, and interest shall be payable on any principal so extended for the period of such extension.

Payment Terms. All payments of principal of, and interest upon, this Note shall be made by the Maker to the Payee in cash in immediately available funds in lawful money of the United States by wire transfer to the bank account designated by the Payee in writing from time to time. All payments under this Note shall be made to the Payee without withholding, defense, set-off, counterclaim or deduction. Payments and prepayments made to the Payee by the Maker hereunder shall be applied firs...t to expenses recoverable under Section 13, then accrued interest and then to principal. If the due date of any payment under this Note would otherwise fall on a day that is not a business day, such due date shall be extended to the next succeeding business day, and interest shall be payable on any principal so extended for the period of such extension.

Payment Terms. All payments of principal of, and interest upon, this Note shall be made by the Maker to the Payee in cash in immediately available funds in lawful money of the United States by wire transfer to the bank account designated by the Payee in writing from time to time. All payments under this Note shall be made to the Payee without withholding, defense, set-off, counterclaim or deduction. ... Payments and prepayments made to the Payee by the Maker hereunder shall be applied first to expenses recoverable under Section 13, then accrued interest and then to principal. If the due date of any payment under this Note would otherwise fall on a day that is not a business day, such due date shall be extended to the next succeeding business day, and interest shall be payable on any principal so extended for the period of such extension.

Payment Terms. a. All principal and accrued interest then outstanding shall be due and payable by the Maker on or before two (2) Years from the date hereof (the "Maturity Date"). b. Accrued interest hereunder shall be due and payable from Maker to Holder on a semi-annual basis, with the first such payment being due on December 31, 2013, and future payments being due each six (6) months thereafter until the Maturity Date or until earlier redemption of this Note under the terms hereof. ...c. At any time after the date hereof and before the Maturity Date, this Note may be paid or redeemed in whole, or in part on one or more occasions, at the sole option of the Maker. d. All payments of interest hereunder may, at the sole option of the Maker, be paid in validly issued shares of common stock in the Maker, par value $0.001, issued to Holder. Common stock issued to Holder as payment hereunder shall be valued at a price per share equal to the average of the closing market prices (VWAP) for the Maker's common stock during the twenty (20) trading days immediately preceding the due date for such payment. e. All payments shall be applied first to interest, then to principal and shall be credited to the Maker's account on the date that such payment is physically received by the Holder.

Payment Terms. a. All principal and accrued interest then outstanding shall be due and payable by the Maker on or before two (2) Years from the date hereof (the "Maturity Date"). b. Accrued interest hereunder shall be due and payable from Maker to Holder on a semi-annual basis, with the first such payment being due on December 31, 2013, and future payments being due each six (6) months thereafter until the Maturity Date or until earlier redemptio...n of this Note under the terms hereof. c. At any time after the date hereof and before the Maturity Date, this Note may be paid or redeemed in whole, or in part on one or more occasions, at the sole option of the Maker. d. All payments of interest hereunder may, at the sole option of the Maker, be paid in validly issued shares of common stock in the Maker, par value $0.001, issued to Holder. Common stock issued to Holder as payment hereunder shall be valued at a price per share equal to the average of the closing market prices (VWAP) for the Maker's common stock during the twenty (20) trading days immediately preceding the due date for such payment. e. All payments shall be applied first to interest, then to principal and shall be credited to the Maker's account on the date that such payment is physically received by the Holder.

Payment Terms. a. All principal and accrued interest then outstanding shall be due and payable by the Maker on or before two (2) Years from the date hereof (the "Maturity Date"). b. Accrued interest hereunder shall be due and payable from Maker to Holder on a semi-annual basis, with the first such payment being due on December 31, 2013, and future payments being due each six (6) months thereafter until the Maturity Date ...or until earlier redemption of this Note under the terms hereof. c. At any time after the date hereof and before the Maturity Date, this Note may be paid or redeemed in whole, or in part on one or more occasions, at the sole option of the Maker. d. All payments of interest hereunder may, at the sole option of the Maker, be paid in validly issued shares of common stock in the Maker, par value $0.001, issued to Holder. Common stock issued to Holder as payment hereunder shall be valued at a price per share equal to the average of the closing market prices (VWAP) for the Maker's common stock during the twenty (20) trading days immediately preceding the due date for such payment. e. All payments shall be applied first to interest, then to principal and shall be credited to the Maker's account on the date that such payment is physically received by the Holder.

Payment Terms. The Borrowers hereby jointly and severally covenant and agree to repay this Note as follows: (a) Principal and interest on this Note shall be due and payable as follows: (i) one hundred nineteen (119) equal monthly payments of principal and interest based on a fifteen (15) year amortization on the twentieth (20th) day of each calendar month commencing January 20, 2020 and ending November 20, 2029; followed by (ii) a final payment on the Maturity Date equal ...to the remaining outstanding principal of this Note plus accrued unpaid interest and fees thereon. (b) If any payment under this Note shall become due on a Saturday, Sunday or public holiday under the laws of the Commonwealth of Pennsylvania, such payment shall be made on the next succeeding business day and such extension of time shall be included in computing interest in connection with such payment. 'Payments received will be applied to charges, fees and expenses (including attorneys' fees), accrued interest and principal in any order the Lender may choose, in its sole discretion.

Payment Terms. Payments of principal and interest due under this Note, if not sooner declared to be due in accordance with the provisions of this Note, shall be due and payable as follows: 6.1 Payment of Interest. Commencing on February 1, 2013, and continuing on the same day of each and every calendar month thereafter through and including the month in which the Maturity Date occurs, payments of accrued and unpaid interest on the principal balance of this Note outstanding from time to time shall be due an...d payable in full. 6.2 Payment of Principal. Borrower shall repay principal in equal installments of $19,444.44 commencing on February 1, 2013, and continuing on the same day of each and every calendar month thereafter until the Maturity Date. On the Maturity Date, Borrower shall repay the remaining unpaid principal balance of this Note, together with all accrued and unpaid interest payable thereon, and any other amounts due and payable by Borrower under this Note or under any of the other Loan Documents.

Payment Terms. The Borrower shall pay accrued interest on the unpaid principal balance of this Note in arrears: (a) for the portion of advances bearing interest under the Base Rate Option, on the first day of each month during the term hereof, (b) for the portion of advances bearing interest under the LIBOR Option, on the last day of the respective LIBOR Interest Period for such advance, (c) if any LIBOR Interest Period is longer than three (3) months, then also on the three (3) month anniversary of such... interest period and every three (3) months thereafter, and (d) for all advances, at maturity, whether by acceleration of this Note or otherwise, and after maturity, on demand until paid in full. All outstanding principal and accrued interest hereunder shall be due and payable in full on the Expiration Date. If any payment under this Note shall become due on a day other than a Business Day, such payment shall be made on the next succeeding Business Day and such extension of time shall be included in computing interest in connection with such payment. The Borrower hereby authorizes the Bank to charge the Borrower's deposit account at the Bank for any payment when due hereunder. Payments received will be applied to charges, fees and expenses (including attorneys' fees), accrued interest and principal in any order the Bank may choose, in its sole discretion.

Payment Terms. The Borrower shall pay accrued interest on the unpaid principal balance of this Note in arrears: (a) for the portion of advances bearing interest under the Base Rate Option, on the first day of each month during the term hereof, (b) for the portion of advances bearing interest under the LIBOR Option, on the last day of the respective LIBOR Interest Period for such advance, (c) if any LIBOR Interest Period is longer than three (3) months, then also on t...he three (3) month anniversary of such interest period and every three (3) months thereafter, and (d) for all advances, at maturity, whether by acceleration of this Note or otherwise, and after maturity, on demand until paid in full. All outstanding principal and accrued interest hereunder shall be due and payable in full on the Expiration Date. If any payment under this Note shall become due on a day other than a Business Day, such payment shall be made on the next succeeding Business Day and such extension of time shall be included in computing interest in connection with such payment. The Borrower hereby authorizes the Bank to charge the Borrower's deposit account at the Bank for any payment when due hereunder. Payments received will be applied to charges, fees and expenses (including attorneys' fees), accrued interest and principal in any order the Bank may choose, in its sole discretion.

Payment Terms. (a) Payment terms are [...***...]. The price of the product is F.O.B. Paramit's shipping dock (net of sales and use taxes, if any). All prices are in U.S. Dollars. Paramit will submit invoices to Customer upon shipment of the product. Each invoice will, at a minimum, refer to Customer's purchase order number, part number, unit price, and total price. If Customer does not object to an invoice within [...***...] from the date of the invoice, it is deemed correct. Custom...er will pay Paramit in full no later than [...***...] from the date of Paramit's invoice to Customer. If any sales or use tax applies to the sale or other disposition of product or materials or inventory, Customer will pay the tax. Customer acknowledges that sales tax may be incurred by scrapping materials or inventory. (b) Customer agrees to [...***...] to cover liability for excess materials and excess inventory based on reports from Paramit. Determination of actual excess amount, invoicing and payments for such excess materials shall be performed in accordance with section 7 and 8 of this Agreement. (c) If Customer does not wish to take delivery of product, and if Paramit agrees, in its sole discretion, to bill and hold, Paramit will transfer the product to an area on Paramit's premises that is segregated from Paramit's manufacturing inventory. Upon such transfer, Customer will be liable to pay for the product as though it were delivered to Customer. Paramit will store the product for a period not to exceed [...***...] from the date the product would otherwise have been shipped. All risk of loss to such product will be borne by Customer. Customer will sign an acknowledgment in a form requested by Paramit that title to the product passes to Customer, risk of loss to the product passes to Customer, and Customer is liable for the purchase price notwithstanding that delivery has not been made to Customer's location. (d) If Customer fails to pay an invoice within [...***...] after payment is first due, Paramit may suspend work on the product for which payment is overdue. If Customer fails to pay an invoice within [...***...] after payment is first due, Paramit may suspend work on all contracts with Customer and Customer shall be in breach of this agreement. Any sum owing to Paramit by Customer will bear interest at the rate of [...***...] per month, compounded monthly, from the date due until paid. A breach of this agreement by Customer is a breach by Customer of each other agreement with Paramit. (e) In the event of Customer's breach, Paramit is entitled to all remedies allowed by this agreement or by law. Among other things, Paramit may cancel all further obligations to Customer to manufacture or sell the product or to provide services. ***Confidential Treatment Requested MANUFACTURING SERVICES AGREEMENT 14. ENGINEERING CHANGE ORDER (ECO) MANAGEMENT To eliminate potential ambiguity, facilitating clear and effective ECO management, Paramit and Customer agree to the following steps: (1) Customer provides complete engineering ECO package to Paramit. (2) Paramit will review materials on hand, inventory, WIP, FGI, orders with suppliers, shipment schedules and provide impact analysis, which will also include any required WIP rework charges, if any. (3) Customer accepts outcome of ECO impact analysis in writing, prior to ECO implementation. (4) Upon receipt of written approval from Customer, Paramit will proceed with ECO implementation. (5) Customer will provide updated product purchase order(s), reflecting new revision within [...***...]. (6) Customer will issue PO for obsoleted components and required rework (if any) within a week of ECO impact analysis acceptance.

Payment Terms. (a) Payment terms are [...***...]. The price of the product is F.O.B. Paramit's shipping dock (net of sales and use taxes, if any). All prices are in U.S. Dollars. Paramit will submit invoices to Customer upon shipment of the product. Each invoice will, at a minimum, refer to Customer's purchase order number, part number, unit price, and total price. If Customer does not object to an invoice within [...***...] from the date of the invoi...ce, it is deemed correct. Customer will pay Paramit in full no later than [...***...] from the date of Paramit's invoice to Customer. If any sales or use tax applies to the sale or other disposition of product or materials or inventory, Customer will pay the tax. Customer acknowledges that sales tax may be incurred by scrapping materials or inventory. (b) Customer agrees to [...***...] to cover liability for excess materials and excess inventory based on reports from Paramit. Determination of actual excess amount, invoicing and payments for such excess materials shall be performed in accordance with section 7 and 8 of this Agreement. (c) If Customer does not wish to take delivery of product, and if Paramit agrees, in its sole discretion, to bill and hold, Paramit will transfer the product to an area on Paramit's premises that is segregated from Paramit's manufacturing inventory. Upon such transfer, Customer will be liable to pay for the product as though it were delivered to Customer. Paramit will store the product for a period not to exceed [...***...] from the date the product would otherwise have been shipped. All risk of loss to such product will be borne by Customer. Customer will sign an acknowledgment in a form requested by Paramit that title to the product passes to Customer, risk of loss to the product passes to Customer, and Customer is liable for the purchase price notwithstanding that delivery has not been made to Customer's location. (d) If Customer fails to pay an invoice within [...***...] after payment is first due, Paramit may suspend work on the product for which payment is overdue. If Customer fails to pay an invoice within [...***...] after payment is first due, Paramit may suspend work on all contracts with Customer and Customer shall be in breach of this agreement. Any sum owing to Paramit by Customer will bear interest at the rate of [...***...] per month, compounded monthly, from the date due until paid. A breach of this agreement by Customer is a breach by Customer of each other agreement with Paramit. (e) In the event of Customer's breach, Paramit is entitled to all remedies allowed by this agreement or by law. Among other things, Paramit may cancel all further obligations to Customer to manufacture or sell the product or to provide services. ***Confidential Treatment Requested MANUFACTURING SERVICES AGREEMENT 14. ENGINEERING CHANGE ORDER (ECO) MANAGEMENT To eliminate potential ambiguity, facilitating clear and effective ECO management, Paramit and Customer agree to the following steps: (1) Customer provides complete engineering ECO package to Paramit. (2) Paramit will review materials on hand, inventory, WIP, FGI, orders with suppliers, shipment schedules and provide impact analysis, which will also include any required WIP rework charges, if any. (3) Customer accepts outcome of ECO impact analysis in writing, prior to ECO implementation. (4) Upon receipt of written approval from Customer, Paramit will proceed with ECO implementation. (5) Customer will provide updated product purchase order(s), reflecting new revision within [...***...]. (6) Customer will issue PO for obsoleted components and required rework (if any) within a week of ECO impact analysis acceptance.

Payment Terms. Borrower will pay this Note as follows: A. No Payments During Deferral Period. There shall be no payments due by Borrower during the Deferral Period. B. Principal and Interest Payments. Commencing one month after the expiration of the Deferral Period, and continuing on the same day of each month thereafter until the Maturity Date, Borrower shall pay to Lender mont...hly payments of principal and interest, each in such equal amount required to fully amortize the principal amount outstanding on the Note on the last day of the Deferral Period by the Maturity Date. C. Maturity Date. On the Maturity Date, Borrower shall pay to Lender any and all unpaid principal plus accrued and unpaid interest plus interest accrued during the Deferral Period. This Note will mature on the Maturity Date. D. If any payment is due on a date for which there is no numerical equivalent in a particular calendar month then it shall be due on the last day of such month. If any payment is due on a day that is not a Business Day, the payment will be made on the next Business Day. The term "Business Day" means a day other than a Saturday, Sunday or any other day on which national banking associations are authorized to be closed. E. Payments shall be allocated among principal and interest at the discretion of Lender unless otherwise agreed or required by applicable law. Notwithstanding, in the event the Loan, or any portion thereof, is forgiven pursuant to the Paycheck Protection Program under the federal CARES Act, the amount so forgiven shall be applied to principal. F. Borrower may prepay this Note at any time without payment of any premium.

Payment Terms. Borrower will pay this Note as follows: A. No Payments During Deferral Period. There shall be no payments due by Borrower during the Deferral Period. B. Principal and Interest Payments. Commencing one month after the expiration of the Deferral Period, and continuing on the same day of each month thereafter until the Maturity Date, Borrower shall pay to Lender monthly payments of principal and interest, each in such equal amount required ...to fully amortize the principal amount outstanding on the Note on the last day of the Deferral Period by the Maturity Date. C. Maturity Date. On the Maturity Date, Borrower shall pay to Lender any and all unpaid principal plus accrued and unpaid interest plus interest accrued during the Deferral Period. This Note will mature on the Maturity Date. D. If any payment is due on a date for which there is no numerical equivalent in a particular calendar month then it shall be due on the last day of such month. If any payment is due on a day that is not a Business Day, the payment will be made on the next Business Day. The term "Business Day" means a day other than a Saturday, Sunday or any other day on which national banking associations are authorized to be closed. E. Payments shall be allocated among principal and interest at the discretion of Lender unless otherwise agreed or required by applicable law. Notwithstanding, in the event the Loan, or any portion thereof, is forgiven pursuant to the Paycheck Protection Program under the federal CARES Act, the amount so forgiven shall be applied to principal. F. Borrower may prepay this Note at any time without payment of any premium.

Payment Terms. (a) Payment at Maturity. The principal amount of the Loan and all interest accrued thereon will be due either (a) within thirty (30) calendar days of the date in which the Case is settled; or (b) on the 36 month anniversary of the Effective Date, whichever is sooner (the "Maturity Date"). (b) Place of Payment. All payments to be made to the Lender hereunder shall be made in the lawful money ...of the United States in immediately available funds. Payments of principal and interest shall be delivered to the Lender at the address to be specified by the Lender to the Borrower by prior written notice. (c) Prepayment. The Borrower may, but shall have no obligation to, prepay, in whole or in part, all or any portion of the principal amount of, and accrued interest on the Loan without being subject to any pre-payment penalty. Any prepayment shall be accomplished by the payment of all accrued and unpaid interest owed hereunder. (d) Release and Satisfaction Upon Complete Payment. Upon Lender's receipt of complete payment of the entire principal amount and all accrued interest on the loan, Lender shall timely execute an acknowledgement of release and satisfaction of the Loan Documents and surrender the Note as cancelled. (e) Withholding Taxes. If any withholding taxes are or become payable in respect of principal, interest or any other amount payable by the Borrower under this Loan Agreement or the Promissory Note, (i) all such amounts payable by the Borrower shall be increased by the amount of the withholding taxes, (ii) the Borrower shall make such additions, (iii) the Borrower shall pay the full amount required to be paid to the relevant taxing authority or other authority in accordance with applicable law, and (iv) Borrower and Lender shall cooperate and use commercially reasonable efforts to obtain a refund of any such withholding taxes, and all amounts received in connection therewith shall be paid to the Borrower.

Payment Terms. Maker agrees to remit payment in full of all principal and interest due hereunder to Holder on or before September 14, 2014. All payments shall be applied first to late charges, then to interest, then to principal and shall be credited to the Maker's account on the date that such payment is physically received by the Holder. Maker shall have the right to prepay all or any part of the principal under this Note without penalty.

Payment Terms. Maker agrees to remit payment in full of all principal and interest due hereunder to Holder on or before September 14, 2014. All payments shall be applied first to late charges, then to interest, then to principal and shall be credited to the Maker's account on the date that such payment is physically received by the Holder. Maker shall have the right to prepay all or any part of the principal under this Note without penalty.