Common use of Date for Payment Clause in Contracts

Date for Payment. 4.1 Each Seller shall pay to the Purchaser amounts due, paid or assessed under this Schedule in cleared, immediately available funds: (a) in the case of amounts due, paid or assessed in relation to an Actual Tax Liability, within five (5) Business Days following the date on which the Purchaser gives written notice to the Sellers of the amount so payable, paid or assessed or, if later, two (2) Business Days before the date on which the relevant Tax is payable; (b) in the case of amounts due, paid or assessed in relation to a Deemed Tax Liability, within five (5) Business Days following the date on which the Purchaser gives written notice to the Sellers of the amount so payable, paid or assessed or, if later, two (2) Business Days before the date on which the Tax would have been due for payment; and (c) in all other cases in relation to an Actual Tax Liability, Deemed Tax Liability or otherwise, within five (5) Business Days following the date on which the Purchaser gives written notice to the Sellers of the amount payable, paid or assessed.