Accounting and Payment Clause Samples
The Accounting and Payment clause establishes the procedures and obligations related to invoicing, payment schedules, and record-keeping between parties in a contract. It typically outlines when and how invoices should be submitted, the timeframe for payment, acceptable payment methods, and the requirement for maintaining accurate financial records. This clause ensures that both parties have a clear understanding of their financial responsibilities, reducing the risk of disputes over payments and promoting timely and transparent financial transactions.
Accounting and Payment. The Warrant Agent shall account to the Company with respect to Warrants exercised or converted and pay to the Company all moneys received by the Warrant Agent on behalf of the Company on the purchase of Warrant Shares through the exercise of Warrants pursuant to the procedures set forth in Section 5(f)(v). The Warrant Agent shall advise the Company by facsimile or by electronic transmission at the end of each day the number of Warrant Exercise Notices received, and, if known, the identity of the Holder(s) of the Warrant(s) exercised or converted.
Accounting and Payment. The Warrant Agent shall account promptly to the Company with respect to Warrants exercised and concurrently pay to the Company all moneys received by the Warrant Agent on behalf of the Company on the purchase of Warrant Shares through the exercise of Warrants. The Warrant Agent shall advise the Company by telephone at the end of each day on which a payment for the exercise of Warrants is received of the amount so deposited to such account. The Warrant Agent shall as soon as practicable confirm such telephone advice to the Company in writing.
Accounting and Payment. 5.1 Royalties shall be payable yearly in arrears sixty (60) days after the end of the last day of each calendar year during the term of this Agreement with the last such payment to be made within (60) days after the end of the last day of the calendar year during which this Agreement expires or terminates.
5.2 Covion shall, and shall Procure that any Covion Licensee shall keep at its usual place of business records of account sufficient to enable accurate calculations of royalties due to CDT and shall produce and present to CDT a statement of those royalties no later than sixty (60) days after the end of each calendar year during the term of this Agreement. If there is a dispute between the parties about the amount of royalties payable, the Parties shall select an independent accountant to be agreed between them, or in default of agreement to be appointed by the President for the time being of the Institute of Chartered Accountants in England and Wales, to inspect the records of Covion and/or any Covion Licensee on reasonable notice and during normal business hours to verify Covion’s statements and royalty payments due pursuant to this Agreement. If such inspection reveals that any statement or payment shall not have been rendered or made in accordance with the terms of this Agreement, or that any statement rendered or payment made by Covion was inaccurate by more than five per cent (5%) then Covion shall pay the cost of such inspection without prejudice to any other remedies or claims of CDT. Such accountant shall not disclose to CDT any information other than information relating to royalties owed by Covion pursuant to this Agreement. CDT shall maintain in confidence and shall oblige the independent accountant to maintain in confidence all information received pursuant to this subclause. The decision of the independent accountant as to the amount of royalty Payment to be made shall, in the absence of manifest error, be final and binding upon the parties.
5.3 All royalties shall be calculated in the currency in which Covion keeps its accounts and shall be paid to CDT in euros in London to the credit of a bank account to be designated in writing by CDT the rate of conversion being the relevant buying rate of HSBC Bank plc at close of business on the last business day of the before the day payment is due.
5.4 All sums shall be paid in full without deductions or set-off, except only for such taxes, or other levies or duties as Covion is legally bound to with...
Accounting and Payment. Within *** after every ---------- --- -------- anniversary date of the Agreement during the term hereof, from and after the date both parties agree that Licensed Products may be released for production, *** will render to *** a certified check (or other form of payment acceptable to ***) in the amount of all *** *** on account of activities of *** under the Agreement during the calendar year preceding the year in which such *** is required to be made. Further, *** will transmit to *** , accompanying each such payment, an accurate, itemized statement (certified upon request) setting forth in sufficient detail for verification, the basis upon which such *** is determined and made. All *** will be made to the order of *** in *** and will be payable at *** address as set forth in Article 13.
Accounting and Payment. 7.1 The Handling Company shall invoice the Carrier monthly, unless otherwise agreed in Annex(es) B, with the charges arising from the provision of the handling services of Annex A as listed in Annex(es) B at the rates of charges set out in Annex(es) B.
7.2 Payment shall be effected through the IATA Clearing House unless otherwise agreed in Annex(es) B.
7.3 The Parties shall reach agreement on the payment terms at each location. Such payment terms will form part of the applicable Annex(es) B.
Accounting and Payment. 10.1 The Royalties shall be accounted for on a calendar quarter basis. Statements of account accompanied by payments, if any, shown to be due shall be delivered to Licensor or such party or parties as Licensor shall designate, no later than thirty (30) days after the end of each calendar quarter.
10.2 The statements of account shall be reasonably detailed so as to enable the Licensor to understand the aggregate amount and calculation of Royalties payable. Licensee shall keep and preserve for at least two (2) years after the expiration of this Agreement accurate records of all transactions relating to this Agreement. On giving reasonable notice in writing (such notice not to be less than 20 working days) the Licensor, or such party or parties as Licensor shall designate, shall be entitled during the Licensee’s normal business hours to inspect and make copies of Licensee's books and records that relate to the subject matter of this Agreement and the computation of Royalties hereunder, provided, however, for the avoidance of doubt, Licensee shall not be obligated to disclose information that is subject to a confidentiality agreement between Licensee and a third party unrelated to the sale of the Licensed Products, unless otherwise compelled by a court of competent jurisdiction as herein provided. In the event of an error in the accounting of Royalties in favor of Licensee of *** or more, the cost of such inspection shall be borne by Licensee. Royalties on sales of Licensed Products which have been returned to Licensee for credit or refund may be credited against Royalties thereafter due to Licensor from sales of Licensed Products, but in no event shall Licensee be entitled to a refund or return of Royalties from Licensor.
10.3 If Licensee is in default with the payment of the Advance or the Royalties then without limiting any of Licensor's rights or remedies, Licensee shall pay Licensor interest on such unpaid amount at a rate equal to two percent (2%) above the then current "prime" rate quoted by the Chase Manhattan Bank, in New York, or the highest interest rate allowed by law, if less.
10.4 If any Royalties are frozen or are not remittable by virtue of any local law, then Licensee shall deposit, in Licensor's name, in a bank account designated by Licensor, in the applicable country of the Territory, at Licensee's expense, that part of the Royalties to which Licensor would be entitled if the funds were transmitted and paid in the United States in accordance...
Accounting and Payment. Licensee shall keep books and records showing its Gross Receipts, Net Profits, Angel Bonus calculations, and Angel Bonus Pool contributions. Licensee will pay Licensor Licensor’s Compensation as per sections 3.1.1 and 3.
Accounting and Payment. The parties’ relative cost shares for the project shall be determined as provided above. The County’s share shall be reduced by the amount of the value of the City Property, which shall be determined by applying a value of $15 per square foot to the land area of the City Property as shown in the attached Exhibit “B”. The County’s share shall be further reduced by the value of the Parking Easement. The value of the Parking Easement shall be determined by subsequent agreement of the parties. Costs incurred by the parties for architectural and engineering design shall be accounted for and paid as follows. City shall be responsible for managing the design contract and shall receive and pay invoices in accordance with the terms of the design contract. The City may submit written requests to the County for reimbursement of the County’s share of design costs with the same frequency that the City receives invoices from SAA. The County shall remit the amounts due within thirty (30) days of receipt of the reimbursement request. In the event any funds are refunded to City by SAA for any reason, City shall pay County its proportionate share of the refund within thirty (30) days.
Accounting and Payment. The Central Bank shall handle accounting and payment for Treasury foreign borrowing in accordance with the instructions of the State Accounting Office; see Appendix 1.
Accounting and Payment. 1. Distributor shall account and make payments to Licensor on a quarterly basis within thirty days following the close of each calendar quarter commencing on the initial release of the Picture hereunder, and continuing until two years following such initial release. Thereafter, accounting statements and payments shall be made semi-annually for each semi-annual period during which the Picture is in release hereunder. Accounting shall reflect Gross Receipts and permitted deductions and shall be accompanied by payment of such amount, if any, as may be payable to Licensor hereunder. Notwithstanding anything to the contrary contained herein, Distributor shall not be required to furnish statements of account of any period in which there are no Gross Receipts or Distribution Expenses after the date that is two years after the initial release of the Picture. Licensor shall reimburse Distributor on demand for any overpayments and Distributor may deduct the amount thereof from any monies payable to Licensor hereunder or under any other agreement between Licensor and Distributor.