Form and Terms of Payment Sample Clauses
The 'Form and Terms of Payment' clause defines how and when payments are to be made under a contract. It typically specifies the acceptable methods of payment, such as bank transfer or check, and outlines the payment schedule, including due dates and any conditions for partial payments or deposits. By clearly establishing the procedures and timing for financial transactions, this clause helps prevent misunderstandings and disputes over payment, ensuring both parties are aware of their obligations and reducing the risk of late or missed payments.
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Form and Terms of Payment. At the Closing, subject to the satisfaction or waiver of the conditions set forth in Articles VI and VII hereof, each Purchaser shall pay the Subscription Amount as follows: Each Purchaser shall pay the full Subscription Amount at Closing, which Subscription Amount consists of the Initial Payment (as hereinafter defined) and, for Purchasers who do not pay the full Subscription Amount on the Closing Date, the Purchaser's Promissory Note in the form attached hereto as Exhibit J ("Promissory Note") for the remaining balance of the Subscription Amount.
a. The Initial Payment shall be made by each Purchaser (i) in cash, by wire transfer to the Company in accordance with the Company's written wiring instructions, (ii) by credit against the purchase price for amounts previously advanced to the Company, in satisfaction thereof, and/or (iii) by conversion of outstanding indebtedness of the Company. The type and amount of consideration constituting the Initial Payment for each Purchaser is set forth in the Funding Schedule attached hereto as Exhibit E (the "Funding Schedule"), and is referred to in this Agreement as the "Initial Payment."
b. The Promissory Note for each Purchaser shall be dated the Closing Date, shall be in the principal amount equal to the Subscription Amount less the Initial Payment as set forth in the Funding Schedule, with principal payments due on the principal payment dates set forth for each Purchaser in the Funding Schedule, and otherwise containing the terms set forth in the Promissory Note.
Form and Terms of Payment. Subject to Applicable Law, the Committee may, in its sole discretion, settle the amount determined under Section 7(e) above solely in cash, solely in Shares (valued at their Fair Market Value on the date of exercise of the SAR), or partly in cash and partly in Shares, with cash paid in lieu of fractional shares. Unless otherwise provided in an Award Agreement, all SARs shall be settled in Shares as soon as practicable after exercise.
Form and Terms of Payment. All payments made by the Borrower hereunder in respect of the Credit Loan, including principal, interest, Funding Losses, and any other obligations of the Borrower, shall be made to the Agent in accordance with the instructions set forth on Schedule 4 hereto or such other account as the Agent shall specify. Promptly upon receipt of each such payment, the Agent shall distribute all such amounts to the appropriate Lenders. All payments shall be made in immediately available and freely transferable funds. Any payment due hereunder or under any other Loan Document that falls due on a day that is not a Business Day shall be rescheduled to the next succeeding Business Day and interest and fees shall continue to accrue to such next succeeding Business Day, unless with respect to a loan on a Eurodollar Rate Basis such Business Day falls in another calendar month, in which case the date for such payment shall be the immediately preceding Business Day.
Form and Terms of Payment. Subject to Applicable Law, the Committee may, in its sole discretion, settle the amount determined under Section 7(e) above solely in cash, solely in Shares (valued at their Fair Market Value on the date of exercise of the SAR), or partly in cash and partly in Shares. In any event, cash shall be paid in lieu of fractional Shares. Absent a contrary determination by the Committee, all SARs shall be settled in cash as soon as practicable after exercise. Notwithstanding the foregoing, the Committee may, in an Award Agreement, determine the maximum amount of cash or Shares or combination thereof that may be delivered upon exercise of an SAR.
Form and Terms of Payment. All payments by the Borrower of principal of or interest on the Notes due to the Lenders pursuant to the Loan Documents shall be made as described below. All other payments shall be made to the Agent for the account of each Lender in accordance with and proportionate to such Lender’s Commitment at the address hereinafter set forth in this Agreement (or at such other address as the Agent shall have furnished to the Borrower in writing) and shall be made in immediately available funds free of any counterclaim, set-off or charge. The Borrower hereby authorizes the Agent to charge, on the first Banking Day of each month, the Borrower’s Operating Account or any other deposit accounts from time to time maintained by the Borrower with the Agent for the purpose of effecting payments of principal and interest on the Loans. Any other amounts due to the Lenders from the Borrower under the Loan Documents or otherwise shall be billed to the Borrower. If such amounts are not paid by the date specified in any such ▇▇▇▇, the Agent is authorized to effect such payment by charging the Operating Account or any other deposit accounts from time to time maintained by the Borrower with the Agent and giving prompt notice thereof to Borrower. If any payment due to the Agent shall become due on a day which is not a Banking Day, such payment may be made on the next succeeding Banking Day and such extension shall be included in computing interest in connection with such payment. All payments made by Borrower hereunder or under any Note or other Loan Document will be made without setoff, counterclaim, or other defense. Except as required by applicable law, all such payments will be made free and clear of, and without deduction or withholding for, any present or future taxes, levies, imposts, duties, fees, assessments or other charges of whatever nature now or hereafter imposed by any jurisdiction (other than the United States) or by any political subdivision or taxing authority thereof or therein (other than of the United States) with respect to such payments (but excluding, any tax imposed by any jurisdiction or by any political subdivision or taxing authority thereof or therein (i) measured by or based on the net income or net profits of a Lender, or (ii) to the extent that such tax results from a change in the circumstances of the Lender, including a change in the residence, place of organization, or principal place of business of the Lender, or a change in the branch or lending of...
Form and Terms of Payment. All payments by the Company of principal of or interest on the Notes and of any fee due hereunder shall be made to the Agent for the account of the Lenders (except for fees paid to the Agent solely for its own account) at the address of the Agent hereinafter set forth in this Agreement (or at such other address as the Agent shall have furnished to the Company in writing) and shall be made in immediately available funds free of any counterclaim, set-off or charge. The Company hereby authorizes the Agent to charge the Company's Blocked Account, Operating Account or any other deposit accounts from time to time maintained by the Company with the Agent for the purpose of effecting such payments. If any payment of principal of or interest on the Notes shall become due on a day which is not a Banking Day, such payment may be made on the next succeeding Banking Day and such extension shall be included in computing interest in connection with such payment.
Form and Terms of Payment. All payments made by the Borrower hereunder in respect of any Credit Loan borrowed by it, including principal, interest, Funding Losses, commitment fees and any other obligations of the Borrower, shall be made to the Agent for account of the Lenders to the bank and account number specified for the Agent on Schedule 1 hereto or such other account as the Agent shall specify. All payments shall be made in immediately available and freely transferable funds and, in the case of payments of principal of and interest payable on any Payment Date, by 12:00 Noon, New York time (each such payment made after such time on such due date to be deemed to have been made on the next succeeding Business Day). Any payment due hereunder or under any other Loan Document that falls due on a day that is not a Business Day shall be rescheduled to the next succeeding Business Day and interest and fees shall continue to accrue to such next succeeding Business Day. The Agent shall pay to each Lender any amounts received by the Agent for account of such Lender promptly to the bank and account number specified for such Lender on Schedule 1 hereto or such other account as such Lender shall specify.
Form and Terms of Payment. All payments by the Company of ---------------------------------- principal of or interest on the Company Revolving Credit Note and of any fee or other amount due hereunder shall be made at the address of the Bank set forth in (S)13.1 (or at such other address as the Bank shall have furnished to the ------- Company in writing) and shall be made in immediately available funds, without any set-off, charge or deduction. The Company hereby irrevocably requests and authorizes the Bank to charge the Company's deposit account(s) with the Bank for the purpose of effecting such payments. If any payment of principal of or interest on the Company Revolving Credit Note shall become due on a day which is not a Business Day, such payment may be made on the next succeeding Business Day and such extension shall be included in computing interest in connection with such payment.
Form and Terms of Payment. The price of the telephones hereunder shall be paid in accordance with the following: SUPPLIER shall pay MANUFACTURER in full for each shipment of the fixed digital cellular telephones prior to shipping, immediately upon presentation of appropriate shipping documents issued to a freight forwarder evidencing MANUFACTURER's instructions to make such shipment to SUPPLIER or by irrevocable letter of credit payable in 30 days. MANUFACTURER shall ship to SUPPLIER upon receipt of payment from SUPPLIER. MANUFACTURER will provide SUPPLIER a .0667% discount for payments made prior to shipments. DIPSA shall pay SUPPLIER one hundred percent (100%) of the price of each shipment within thirty (30) days from the date of a shipment upon delivery of corresponding invoices and evidentiary documentation, provided that SUPPLIER supplies DIPSA a b▇▇▇ of lading evidencing that the shipment of telephones purchased by DIPSA is in Mexico and document evidencing that MANUFACTURER has been paid for said shipment. Prices will be in the legal currency of the United States of America (hereinafter, for the sake of brevity, indistinctly "Dollars" or "USD"). SUPPLIER will pay MANUFACTURER only in USD. DIPSA shall pay SUPPLIER in USD. However, DIPSA may pay SUPPLIER in Mexican currency according to the exchange rate for obligations denominated in foreign currency payable in Mexico, published by the Bank of Mexico in the Official Diary of the Federation on the effective date of payment. SUPPLIER will place One Million and no/100 U.S. Dollars (USD1,000,000.00) on deposit with MANUFACTURER to secure SUPPLIER's and DIPSA's performance under this agreement. The entire One Million and no/100 U.S. Dollars (USD1,000,000.00) will remain on deposit until payment is made to MANUFACTURER in full for the first [*] telephones purchased by SUPPLIER pursuant to this agreement, and if fewer than [*] telephones are paid for by SUPPLIER for any reason other than MANUFACTURER's breach, SUPPLIER shall forfeit all rights to the amount of said deposit to MANUFACTURER. Following receipt of payment to MANUFACTURER [*] telephones, MANUFACTURER shall return to SUPPLIER Ten U.S. Dollars (USD10.00) from the deposit for each of the following [*] telephones paid for by SUPPLIER pursuant to this agreement. MANUFACTURER shall retain all other rights to the deposit until it is paid in full for the [*] telephones purchased pursuant to this agreement, and the entire deposit will only be returned to SUPPLIER upon such final p...
Form and Terms of Payment. 4.1. Payment to the Service provider shall be made by bank transfer in local or foreign currency. For non-residents Payment can be made in Euros or in USD (preferably by service provider) equivalent amount of Gel indicated in the contract, exchange rate by the day of signing acceptance act and invoice date issued by supplier, according to national bank of Georgia (▇▇▇.▇▇▇.▇▇▇.▇▇).
4.2. Payment will be made 4 times (Conditional Quarter) during 12 month, therefore purchaser Is responsible to pay for service Quarterly (every 3 month) until 10th of next month based on service acceptance document signed from both sides or based on Invoice from supplier or based on relevant document proving the performance of service for the given period.