Payment by Principal Sample Clauses

The 'Payment by Principal' clause establishes the obligation of the principal party to make payments as specified in the contract. Typically, this clause outlines the timing, method, and conditions under which the principal must pay the contractor or service provider, such as upon completion of certain milestones or delivery of goods. By clearly defining payment responsibilities, this clause ensures that both parties understand when and how payments will be made, thereby reducing the risk of disputes and ensuring smooth financial transactions throughout the contractual relationship.
Payment by Principal. (a) The Principal must pay the Refund Amount and the Fee to the Operator in accordance with this clause 9, the Payments Schedule and this Agreement. (b) The Refund Amount is paid by the Principal to the Operator as agent for the relevant Processing Services Provider in consideration for the Containers collected from the Operator by that Processing Services Provider; (c) The Fee consists of: (i) the Handling Fee Payment (less any applicable Performance Abatement as determined in accordance with this Agreement), which is paid by the Principal to the Operator under this Agreement in consideration for the Services provided by the Operator; and (ii) any adjustments, interest or GST applicable to the Handling Fee Payment as determined in accordance with this Agreement and the Payments Schedule. (d) The Refund Amount and the Fee may be adjusted to account for: (i) the results of the Principal's audit and verification procedures; (ii) any Containers that are returned but which are not processed through the IT Platform and POS System in accordance with the Services Specification; and (iii) documentation required to be provided in accordance with the Services Specification (including reports and statutory declarations on collection material data) and otherwise in accordance with this Agreement which is not provided to the Principal. (e) The Refund Amount will be automatically adjusted to reflect any adjustment to the value of the Refund Amount under the Act or Regulation. (f) Where the Principal fails to make a payment to the Operator in accordance with this clause 9, the Principal will be liable to pay the Operator interest on any overdue payments at the Default Interest Rate.
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Payment by Principal. (a) The parties acknowledge and agree that: (i) they must comply with the Recovery Amount Protocol and Payments Schedule; and (ii) subject to any adjustments or deductions permitted under this Deed, the Act or the Recovery Amount Protocol, pursuant to the Recovery Amount Protocol the amount, inclusive of GST, payable by the Principal per eligible Container is equal to the Refund Amount. (b) Subject to clauses 10.1, 10.2(c) and 10.14, the MRFO may make a claim for the payment of a Recovery Amount for a particular quantity of Containers (as determined in accordance with this clause 10 and the Recovery Amount Protocol) by lodging a claim with the Principal in the form and manner set out in this clause 10, the Recovery Amount Protocol and Payments Schedule (Recovery Amount Claim). (c) A Recovery Amount Claim must be lodged by the MRFO within 10 Business Days of the end of each Quarter. Only one Recovery Amount Claim per Quarter can be made by the MRFO for each Material Recovery Facility that they operate. The claim must include all relevant information for all Recyclable Waste that the MRFO intends to make a Recovery Amount Claim on for that Quarter. (d) A valid Recovery Amount Claim must (unless the Principal agrees otherwise in writing): (i) comply with the requirements of the Payments Schedule; and (ii) be based on the MRFO's chosen method for calculating Containers recovered for each Material Type, as advised to the Principal: (A) prior to the MRFO's first Recovery Amount Claim in accordance with clause 10.1(e); and (B) thereafter, not less than 20 Business Days prior to the commencement of the Quarter to which the Recovery Amount Claim relates. (e) Notwithstanding any other provision of this Deed, the MRFO will not be entitled to claim a Recovery Amount with respect to: (i) any Recyclable Waste except to the extent that Recyclable Waste comprises Containers; or (ii) any Claimed Scheme Material; or (iii) any Recyclable Waste it collected or received prior to: (A) if the Effective Date is on or before the Scheme Commencement Date, the Scheme Commencement Date; and (B) if the Effective Date is after the Scheme Commencement Date, the Effective Date.
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Payment by Principal. 6.1 Unless otherwise specifically agreed between the Principal and the Agent in writing, the Principal shall pay to the Agent in cash and immediately upon presentation of account, all sums due to the Agent. 6.2 All payments made by the Principal to the Agent in terms of these Standard Trading Terms and Conditions shall be made free of set-off, bank exchange, commission or any other deduction, and the Principal shall not have the right to defer, adjust or withhold any payment due to the Agent in terms of or arising out of these Standard Trading Terms and Conditions, or to obtain deferment of judgment for such amounts or any execution of such judgment by reason of any set-off or counterclaim of whatsoever nature or howsoever arising. 6.3 All and any monies received by the Agent from the Principal shall be appropriated by the Agent, in its sole and absolute discretion, to any indebtedness owing by the Principal to the Agent, notwithstanding that the Principal may, when making payment, seek to appropriate the payment so made to any particular debt or portion of a debt.
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Payment by Principal. If all or any part of the Guaranteed Obligations shall not be punctually paid when due, whether at maturity or earlier by acceleration or otherwise, Principal shall, immediately upon demand by Noteholder, and without presentment, protest, notice of protest, notice of non-payment, notice of intention to accelerate the maturity, notice of acceleration of the maturity, or any other notice whatsoever, pay in lawful money of the United States; of America, the amount due on the Guaranteed Obligations to Noteholder at Noteholder's address as set forth herein. Such demand(s) may be made at any time coincident with or after the time for payment of all or part of the Guaranteed Obligations, and may be made from time to time with respect to the same or different items of Guaranteed Obligations. Such demand shall be deemed made, given and received in accordance with the notice provisions hereof.
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Related to Payment by Principal

  • Payment by Guarantor If all or any part of the Guaranteed Obligations shall not be punctually paid when due, whether at demand, maturity, acceleration or otherwise, Guarantor shall, immediately upon demand by Lender, and without presentment, protest, notice of protest, notice of non-payment, notice of intention to accelerate the maturity, notice of acceleration of the maturity, or any other notice whatsoever, pay in lawful money of the United States of America, the amount due on the Guaranteed Obligations to Lender at Lender’s address as set forth herein. Such demand(s) may be made at any time coincident with or after the time for payment of all or part of the Guaranteed Obligations, and may be made from time to time with respect to the same or different items of Guaranteed Obligations. Such demand shall be deemed made, given and received in accordance with the notice provisions hereof.

  • Payment by Guarantors Subject to Section 7.2, Guarantors hereby jointly and severally agree, in furtherance of the foregoing and not in limitation of any other right which any Beneficiary may have at law or in equity against any Guarantor by virtue hereof, that upon the failure of Borrower to pay any of the Guaranteed Obligations when and as the same shall become due, whether at stated maturity, by required prepayment, declaration, acceleration, demand or otherwise (including amounts that would become due but for the operation of the automatic stay under Section 362(a) of the Bankruptcy Code, 11 U.S.C. § 362(a)), Guarantors will upon demand pay, or cause to be paid, in Cash, to Administrative Agent for the ratable benefit of Beneficiaries, an amount equal to the sum of the unpaid principal amount of all Guaranteed Obligations then due as aforesaid, accrued and unpaid interest on such Guaranteed Obligations (including interest which, but for Borrower’s becoming the subject of a case under the Bankruptcy Code, would have accrued on such Guaranteed Obligations, whether or not a claim is allowed against Borrower for such interest in the related bankruptcy case) and all other Guaranteed Obligations then owed to Beneficiaries as aforesaid.

  • Payment by Counterparty In the event that, following payment of the Premium, (i) an Early Termination Date occurs or is designated with respect to the Transaction as a result of a Termination Event or an Event of Default (other than an Event of Default arising under Section 5(a)(ii) or 5(a)(iv) of the Agreement) and, as a result, Counterparty owes to Dealer an amount calculated under Section 6(e) of the Agreement, or (ii) Counterparty owes to Dealer, pursuant to Section 12.7 or Section 12.9 of the Equity Definitions, an amount calculated under Section 12.8 of the Equity Definitions, such amount shall be deemed to be zero.

  • Payment by Wire Transfer So long as any Purchaser or its nominee shall be the holder of any Note, and notwithstanding anything contained in Section 14.1 or in such Note to the contrary, the Company will pay all sums becoming due on such Note for principal, Make-Whole Amount, if any, interest and all other amounts becoming due hereunder by the method and at the address specified for such purpose below such Purchaser’s name in the Purchaser Schedule, or by such other method or at such other address as such Purchaser shall have from time to time specified to the Company in writing for such purpose, without the presentation or surrender of such Note or the making of any notation thereon, except that upon written request of the Company made concurrently with or reasonably promptly after payment or prepayment in full of any Note, such Purchaser shall surrender such Note for cancellation, reasonably promptly after any such request, to the Company at its principal executive office or at the place of payment most recently designated by the Company pursuant to Section 14.1. Prior to any sale or other disposition of any Note held by a Purchaser or its nominee, such Purchaser will, at its election, either endorse thereon the amount of principal paid thereon and the last date to which interest has been paid thereon or surrender such Note to the Company in exchange for a new Note or Notes pursuant to Section 13.2. The Company will afford the benefits of this Section 14.2 to any Institutional Investor that is the direct or indirect transferee of any Note purchased by a Purchaser under this Agreement and that has made the same agreement relating to such Note as the Purchasers have made in this Section 14.2.

  • Payment by Dealer In the event that (i) an Early Termination Date occurs or is designated with respect to the Transaction as a result of a Termination Event or an Event of Default (other than an Event of Default arising under Section 5(a)(ii) or 5(a)(iv) of the Agreement) and, as a result, Dealer owes to Company an amount calculated under Section 6(e) of the Agreement, or (ii) Dealer owes to Company, pursuant to Section 12.7 or Section 12.9 of the Equity Definitions, an amount calculated under Section 12.8 of the Equity Definitions, such amount shall be deemed to be zero.