Monthly Payment definition: Copy, customize, and use instantly
Introduction
The term "Monthly Payment" refers to the fixed or variable amount of money that is due on a regular monthly basis as part of a financial agreement. This payment is typically applied to loans, leases, or subscription services and is a key factor in managing cash flow for both parties. It is crucial for maintaining payment schedules and ensuring compliance with contractual obligations.
Below are various examples of how "Monthly Payment" can be defined in different contexts. Copy the one that fits your needs, customize it, and use it in your contract.
Definition of "Monthly Payment" as loan repayment
This definition ties "Monthly Payment" to loan amortization.
"Monthly Payment" means the amount payable by the borrower to the lender on a monthly basis, which includes principal and interest, as specified in the loan agreement.
Definition of "Monthly Payment" as rent payment
This definition connects "Monthly Payment" to lease agreements.
"Monthly Payment" refers to the recurring sum payable by the tenant to the landlord, due on the first of each month under the lease contract.
Definition of "Monthly Payment" as subscription fee
This definition links "Monthly Payment" to subscription services.
"Monthly Payment" means the fee paid by the subscriber to the service provider for continued access to the services provided on a monthly basis.
Definition of "Monthly Payment" as installment under a credit agreement
This definition applies "Monthly Payment" to financing agreements.
"Monthly Payment" refers to the fixed amount due monthly under a credit agreement, which may include both principal and interest.
Definition of "Monthly Payment" as a fixed service charge
This definition ties "Monthly Payment" to service fees.
"Monthly Payment" means the standard charge billed each month for services rendered, including utilities or telecommunications.
Definition of "Monthly Payment" as part of a hire purchase agreement
This definition connects "Monthly Payment" to financing a purchase.
"Monthly Payment" refers to the sum agreed upon by the buyer, paid monthly as part of a hire purchase agreement until the full price of the purchased goods is paid.
Definition of "Monthly Payment" as a maintenance fee
This definition links "Monthly Payment" to property maintenance.
"Monthly Payment" means the fee paid monthly by the property owner or tenant for the upkeep and maintenance of common areas and services.
Definition of "Monthly Payment" as mortgage repayment
This definition applies "Monthly Payment" to mortgage contracts.
"Monthly Payment" refers to the installment due monthly by the borrower to the lender, consisting of both principal and interest payments under the mortgage agreement.
Definition of "Monthly Payment" as a debt service obligation
This definition ties "Monthly Payment" to financial obligations.
"Monthly Payment" means the fixed amount the borrower is required to pay monthly to satisfy debt service obligations under the financing arrangement.
Definition of "Monthly Payment" as loan servicing fee
This definition connects "Monthly Payment" to loan servicing.
"Monthly Payment" refers to the amount due each month to cover loan servicing costs, which may include processing, management, and other related expenses.
Definition of "Monthly Payment" as a fixed amount for a leasehold interest
This definition links "Monthly Payment" to leasehold financing.
"Monthly Payment" means the monthly rent paid by the lessee for the lease of property or interest in the leasehold, as stipulated in the lease agreement.
Definition of "Monthly Payment" as credit card payment
This definition applies "Monthly Payment" to credit card agreements.
"Monthly Payment" refers to the amount a credit card holder must pay each month to meet the minimum payment requirement or to fully pay off the balance.
Definition of "Monthly Payment" as a recurring payment in a financing plan
This definition ties "Monthly Payment" to financial installments.
"Monthly Payment" means the agreed-upon monthly installment in a financing plan, which could include product financing or loan repayment.
Definition of "Monthly Payment" as payment in an escrow account
This definition connects "Monthly Payment" to escrow services.
"Monthly Payment" refers to the sum paid monthly into an escrow account, typically for taxes, insurance, or other third-party obligations related to the loan.
Definition of "Monthly Payment" as rent for an equipment lease
This definition links "Monthly Payment" to equipment rental.
"Monthly Payment" refers to the amount paid each month by the lessee to rent equipment, including any associated charges under the lease agreement.
Definition of "Monthly Payment" as a service fee under a contract
This definition applies "Monthly Payment" to contract-based services.
"Monthly Payment" means the recurring fee paid by the client for the services rendered under the terms of the service contract.
Definition of "Monthly Payment" as an insurance premium
This definition ties "Monthly Payment" to insurance agreements.
"Monthly Payment" refers to the monthly premium paid by the policyholder to maintain coverage under an insurance policy.
Definition of "Monthly Payment" as a recurring obligation under a credit line
This definition connects "Monthly Payment" to credit line agreements.
"Monthly Payment" refers to the monthly payment due under a revolving credit line, including any applicable fees and interest charges.
Definition of "Monthly Payment" as a capital contribution
This definition links "Monthly Payment" to partnership agreements.
"Monthly Payment" means the regular monthly capital contribution made by a partner to fund the operations of a partnership, as agreed upon by the partners.
Definition of "Monthly Payment" as an annuity payment
This definition applies "Monthly Payment" to annuities.
"Monthly Payment" refers to the fixed amount paid monthly to the annuitant under the terms of an annuity contract.
Definition of "Monthly Payment" as a rent payment under a real estate agreement
This definition ties "Monthly Payment" to real estate leases.
"Monthly Payment" means the rental amount paid by the tenant to the landlord each month under a real estate lease agreement.
Definition of "Monthly Payment" as a subscription-based loan fee
This definition connects "Monthly Payment" to subscription loans.
"Monthly Payment" refers to the regular installment paid by the borrower for a subscription-based loan agreement, including principal and interest.
Definition of "Monthly Payment" as a finance charge under a contract
This definition links "Monthly Payment" to finance charges.
"Monthly Payment" means the portion of the finance charge due monthly, included in the overall payment for a financed product or service.
Definition of "Monthly Payment" as a partial repayment for a long-term loan
This definition applies "Monthly Payment" to large-scale loans.
"Monthly Payment" refers to the partial repayment made monthly on a long-term loan, reducing the principal balance over time.
Definition of "Monthly Payment" as a recurring subscription payment for software
This definition ties "Monthly Payment" to software services.
"Monthly Payment" means the recurring payment made by the customer to access and use the software, typically charged on a monthly basis.
Definition of "Monthly Payment" as an amortized installment
This definition connects "Monthly Payment" to amortization schedules.
"Monthly Payment" refers to a payment made each month, structured to amortize the loan principal and interest over the loan term.
Definition of "Monthly Payment" as a fixed obligation for housing costs
This definition links "Monthly Payment" to housing-related payments.
"Monthly Payment" means the fixed amount due monthly from the homeowner or tenant, including rent or mortgage and additional housing-related fees.
Definition of "Monthly Payment" as a periodic investment contribution
This definition applies "Monthly Payment" to investment agreements.
"Monthly Payment" refers to the periodic payment made by an investor to fund an investment, pension plan, or similar financial vehicle.
Definition of "Monthly Payment" as a flexible payment option under financing terms
This definition ties "Monthly Payment" to flexible lending options.
"Monthly Payment" means the amount payable monthly, which may vary based on changes in the terms of the financing arrangement or interest rates.
Definition of "Monthly Payment" as a compensation or royalty payment
This definition connects "Monthly Payment" to compensation agreements.
"Monthly Payment" refers to the regular payment made monthly as part of compensation, such as royalties or deferred earnings.
Definition of "Monthly Payment" as a charge for recurring services
This definition links "Monthly Payment" to recurring service charges.
"Monthly Payment" means the recurring charge paid by the client for ongoing services, such as cleaning or maintenance.
Definition of "Monthly Payment" as a contribution to a joint venture
This definition applies "Monthly Payment" to joint venture agreements.
"Monthly Payment" refers to the agreed-upon contribution paid by each partner in a joint venture on a monthly basis to fund operations.
Definition of "Monthly Payment" as a contribution to a savings plan
This definition ties "Monthly Payment" to saving and investment schemes.
"Monthly Payment" means the sum paid each month into a savings or retirement plan as part of the financial agreement.
This article contains general legal information and does not contain legal advice. Cobrief is not a law firm or a substitute for an attorney or law firm. The law is complex and changes often. For legal advice, please ask a lawyer.