The remaining balance for the payment of the Equipment’s price i.e. USD 121,356 (say: One Hundred Twenty Thousand and Three Hundred Fifty Six American Dollars) will be divided into 36 equal installments each in the amount of USD 3,371 (say: Three Thousand and Three Hundred and Seventy One American Dollars) payable monthly on or before the 7th day of each month. The first installment shall be payable on or before the 7th day of the following month after the delivery of the Equipment according to § 3 sec. 2 of this Agreement.