PAYMENT OF BALANCES Clause Samples

The "Payment of Balances" clause sets out the obligation for one party to pay any outstanding amounts owed to the other under the terms of the agreement. Typically, this clause specifies when and how final payments must be made, such as after the completion of services, delivery of goods, or upon termination of the contract. Its core function is to ensure that all financial obligations are settled promptly and clearly, thereby preventing disputes over unpaid sums and providing a clear process for closing out the financial aspects of the contractual relationship.
PAYMENT OF BALANCES. The Ceding Company will pay any balance due the Reinsurer, at the same time as the account is rendered, but in all cases, by the Accounting and Premium Due frequency as shown in Schedule I. The Reinsurer will pay any balance due the Ceding Company, at the same time as the account is confirmed, however, at the latest, within thirty (30) days after receipt of the statement of account. Should the Reinsurer be unable to confirm the account in its entirety, the confirmed portion of the balance will be paid immediately. As soon as the account has been fully confirmed, the difference will be paid immediately by the debtor. All balances not paid within thirty (30) days of the due date shown on the statement will be in default.
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PAYMENT OF BALANCES. The Reinsured will pay, subject to Article 5, Funds Withheld Balance, any balance due the Reinsurer, at the same time as the account is rendered, but in all cases, by the Accounting and Premium Due frequency as shown in Section 6.02. The Reinsurer will pay, subject to Article 5, any balance due the Reinsured, at the same time as the account is confirmed, however, at the latest, within thirty (30) days after receipt of the statement of account. Should the Reinsurer be unable to confirm the account in its entirety, the confirmed portion of the balance will be paid immediately. As soon as the account has been fully confirmed, the debtor will pay the difference immediately. All balances not paid within thirty (30) days of the due date shown on the statement will be in default.
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PAYMENT OF BALANCES. The Ceding Company will calculate the amount of reinsurance premium due and within sixty (60) days after the last day of each billing period will send the Reinsurer a statement that contains the information shown in Schedule VIII, including any premiums due for that period. If an amount is due the Ceding Company, the Reinsurer will remit that amount to the Ceding Company within thirty (30) days of receipt of the statement.
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PAYMENT OF BALANCES. Customer will pay the balance of the Aircraft Price of each Aircraft, less the total amount of Advance Payments and Deposits received by Boeing for such Aircraft, at delivery in accordance with the terms and conditions of the Purchase Agreement.
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PAYMENT OF BALANCES. The Company will pay any positive Quarterly Total Due (as shown in Exhibit II) to the Reinsurer at the same time as the accounting is rendered. The Reinsurer will pay any negative Quarterly Total Due to the Company at the same time as the accounting is confirmed, however, at the latest, within thirty (30) days after receipt of the accounting by the Reinsurer. Should the Reinsurer be unable to confirm the account in its entirety, the confirmed portion of the balance will be paid immediately. As soon as the account has been fully confirmed, the Reinsurer will pay the difference immediately. All such balances not paid by the Performance Due Date will be delinquent and will be subject to payment of interest. The rate of interest for each amount due shall be the expected Net Asset Yield associated with the party owed the balance due as calculated by the Reinsurer in determining the Supportable Rate. Interest shall be owed from the Performance Due Date to the date that the balance is paid. The Net Asset Yield for balances due under 10.01 and 10.03 shall be based on the rate of interest associated with the Supportable Rate most recently calculated by the Reinsurer. TLIC/ULIC VA Co/Modco Page 6 Eff. 03/01/2007
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PAYMENT OF BALANCES. 1. Employees with a Comp Time balance may request payment for all or part of the accumulated hours in their balance at any time (enclosure 1). 2. The Decision Maker may choose to rescind an agreement and pay the employee the Comp Time balance at any time. 3. A terminating employee with a Comp Time balance must be paid for all accrued hours using the employee's current rate of pay.
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PAYMENT OF BALANCES. Within 30 days after the close of each month, the Company shall render the monthly account current specified above, for such month and the balance due thereunder shall be payable by the debtor within 60 days after the close of the month under adjustment. It is agreed, however, that the Reinsurer will immediately pay upon request any loss, their share of which exceeds $50,000, arising from any one event. Nevertheless, the Reinsurer shall have the right to reduce any such payment by the amount, if any, standing in its favor per current account.
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Related to PAYMENT OF BALANCES

  • Cash Balances Uninvested cash balances in my Account will be automatically swept into the ▇▇▇▇▇▇ ▇▇▇▇▇ Money Market Fund according to my previous elections and authorizations relating to the treatment of cash balances. I understand and agree that the ▇▇▇▇▇▇ ▇▇▇▇▇ Money Market Fund is offered by an ▇▇▇▇▇▇ ▇▇▇▇▇ affiliate and, as a result, ▇▇▇▇▇▇ ▇▇▇▇▇ has a financial incentive to select the ▇▇▇▇▇▇ ▇▇▇▇▇ Money Market Fund as the available cash option, instead of a third-party cash product.

  • Payment of Base Rent Tenant agrees to pay the Base Rent for the Premises. Monthly Installments of Base Rent shall be payable in advance on the first day of each calendar month of the Term. If the Term begins (or ends) on other than the first (or last) day of a calendar month, the Base Rent for the partial month shall be prorated on a per diem basis. Tenant shall pay Landlord the first Monthly Installment of Base Rent when Tenant executes the Lease.

  • Payment of the balance Within sixty days of completion of the tasks referred to in each order or specific contract, the Contractor shall submit to the Agency a formal request for payment accompanied by those of the following documents, which are provided for in the Special Conditions: ➢ a final technical report in accordance with the instructions laid down in Annex I; ➢ the relevant invoices indicating the reference number of the Contract and of the order or specific contract to which they refer;

  • Cash Balance Within two (2) Business Days after the end of each Fiscal Month, Borrower will deliver a certificate reporting to Agent the Cash Balance as of the last day of the Fiscal Month just ended, which certificate shall be executed and certified by a Responsible Officer of the Borrower as true and correct; (d)

  • Distributions Following Acceleration If the Notes are accelerated after an Event of Default, on each Payment Date starting with the Payment Date relating to the Collection Period in which the Notes are accelerated, the Indenture Trustee will (based on the information in the most recent Monthly Investor Report) withdraw from the Bank Accounts and make deposits and payments, to the extent of funds in the Bank Accounts for the related Collection Period, in the following order of priority (pro rata to the Persons within each priority level based on the amounts due except as stated): (i) first, to the payment of amounts, including indemnities, due to the Indenture Trustee, the Owner Trustee and the Asset Representations Reviewer and, to or at the direction of the Issuer, any expenses of the Issuer incurred under the Transaction Documents; (ii) second, to the Servicer, all unpaid Servicing Fees; (iii) third, to the Noteholders of Class A Notes, the aggregate Accrued Note Interest for the Class A Notes, pro rata based on the Note Balances of the Class A Notes on the prior Payment Date (after giving effect to payments on that date); (iv) fourth, to the Noteholders of Class A-1 Notes, in payment of principal until the Note Balance of the Class A-1 Notes is reduced to zero; (v) fifth, to the Noteholders of Class A-2a and Class A-2b Notes, pro rata based on the respective Notes Balances, in payment of principal until the Note Balance of the Class A-2a and Class A-2b Notes is reduced to zero; (vi) sixth, to the Noteholders of Class A-3 Notes, in payment of principal until the Note Balance of the Class A-3 Notes is reduced to zero; (vii) seventh, to the Noteholders of Class A-4 Notes, in payment of principal until the Note Balance of the Class A-4 Notes is reduced to zero; (viii) eighth, to the Noteholders of Class B Notes, the Accrued Note Interest for the Class B Notes; (ix) ninth, to the Noteholders of Class B Notes, in payment of principal until the Note Balance of the Class B Notes is reduced to zero; (x) tenth, to the Noteholders of Class C Notes, the Accrued Note Interest for the Class C Notes; (xi) eleventh, to the Noteholders of Class C Notes, in payment of principal until the Note Balance of the Class C Notes is reduced to zero; and (xii) twelfth, to the holder of the Residual Interest, any remaining amounts.