What does "installment" mean?

Installment: The seat in which one is placed. [Obs.] The several chairs of order, look, you scour; . . . Each fair installment, coat, and several crest With loyal blazon, evermore be blest. Shak.

Additional senses

  1. 2.A portion of a debt, or sum of money, which is divided into portions that are made payable at different times. Payment by installment is payment by parts at different times, the amounts and times being often definitely stipulated. Bouvier.

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