Payment is NOT Required Clause Samples

The 'Payment is NOT Required' clause establishes that a party is not obligated to make a payment under certain circumstances specified in the agreement. In practice, this clause may apply when services or goods have not been delivered, when a condition precedent has not been met, or when a party is otherwise excused from payment due to contract terms. Its core function is to clearly define situations where payment obligations are waived, thereby preventing disputes over whether payment is due and protecting parties from unwarranted financial liability.
Payment is NOT Required. No payment will be due by the Client and any Deposit made will be fully refunded.
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Related to Payment is NOT Required

  • Mitigation Not Required As a condition of any payment hereunder, Executive shall not be required to mitigate the amount of such payment by seeking other employment or otherwise, nor will any profits, income, earnings or other benefits from any source whatsoever create any mitigation, offset, reduction or any other obligation on the part of Executive under this Agreement.

  • Required Not required Commercial General Liability Insurance covering bodily injury and property damage in a form and with coverage that are satisfactory to the State. This insurance shall include personal and advertising injury liability, products and completed operations, contractual liability coverage for the indemnity provided under this Grant Agreement, and have no limitation of coverage to designated premises, project, or operation. Coverage shall be written on an occurrence basis in an amount of not less than $1,000,000.00 per occurrence. Annual aggregate limit shall not be less than $2,000,000.00.

  • Notation Not Required Neither the Company nor any Subsidiary Guarantor shall be required to make a notation on the Notes to reflect any Subsidiary Guarantee or any release, termination or discharge thereof.

  • Payments Not Received (a) Payments are due and payable on the date of issue indicated on the bill for collection. When a payment for timber cut and other charges is not received at the location designated by Forest Service by the date allowed in the bill for collection for receipt of payment, Contracting Officer will suspend all or any part of Purchaser’s Operations until payment or acceptable payment guarantee is received. Other charges include, but are not limited to: (i) Slash disposal, road maintenance, and contract Scaling deposits; (ii) Cooperative work at rates established by specific agreement under B4.218; (iii) Damages pursuant to B9.4; (iv) Road use fees; B4.22; (v) Restoration of downpayment pursuant to (vi) Periodic payments pursuant to B4.213;

  • Registration Not Required Notwithstanding the foregoing, the General Partner shall not be required to file or maintain the effectiveness of a registration statement covering the resale of Redemption Shares if, in the opinion of counsel to the General Partner, such Redemption Shares could be sold by the holders thereof pursuant to Rule 144 under the Securities Act, or any successor rule thereto.