PAYMENTS AND RECEIPTS Clause Samples

The "Payments and Receipts" clause defines the procedures and obligations related to the transfer of funds between parties under the agreement. It typically outlines when payments are due, acceptable methods of payment, and how receipts or confirmations of payment should be handled. For example, it may specify that payments must be made within 30 days of invoice receipt and that electronic transfers are the preferred method. This clause ensures both parties have a clear understanding of their financial responsibilities, reducing the risk of disputes over payment timing or methods.
PAYMENTS AND RECEIPTS. Until the Lease Obligations shall have been completely paid and performed, the Lessee shall not make, and the Affiliated Parties shall not receive, accept or retain any direct or indirect payment or reduction (whether by way of loan, setoff, declaration of any dividend, distribution of cash or property or otherwise) in respect to the principal of, or premium or interest on, the Affiliated Party Debt, if, on the date such payment would (but for the terms hereof) be payable to and received by any of the Affiliated Parties pursuant to any of the Interaffiliate Agreements (each of which such dates shall be hereinafter referred to as a "Affiliated Party Debt Payment Date"): (i) after giving effect to such payment, the Lessee shall be unable to comply with any of the Lease Obligations; (ii) a default or breach of condition continuing beyond all applicable notice and/or grace periods under any of the Lease Documents (hereinafter referred to as a "Lease Default") shall have occurred, shall be continuing and shall not have been specifically waived in writing by the Lessor, whether or not the Lessor has exercised any right or remedy under the Lease Documents with respect thereto or if such a Lease Default shall not be continuing on any Affiliated Party Debt Payment Date, but the Lessor (pursuant to any of the Lease Documents) shall have commenced to exercise any right and remedy under the Lease Documents with respect thereto and such exercise shall not have been specifically rescinded in writing by the Lessor; or (iii) an event which with the giving of notice or the passage of time or both shall constitute a Lease Default shall have occurred, shall be continuing and shall not have been specifically waived in writing by the Lessor.
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PAYMENTS AND RECEIPTS. For the purposes of any provision of a State Concession Document under which a payment may be made, or received, by the State or its Associates, the Franchisees or their respective Associates: (i) any payment made to a Franchisee will be deemed, to the extent of that payment, to satisfy the relevant obligation of the payer to each Franchisee (to the extent of their respective rights under the State Concession Documents) without the payer being required to enquire as to the respective entitlements of the Franchisees in respect of the subject matter of that payment, and a receipt given by a Franchisee will bind all Franchisees; and (ii) the State and its Associates may receive a payment made by a Franchisee in or towards satisfaction of the obligations of any Franchisee under the State Concession Documents, without the payee being required to enquire as to the respective obligations of the Franchisees in respect of the subject matter of that payment, and a receipt given by the payee to a Franchisee will be sufficient acknowledgment of the receipt of that payment as regards each Franchisee.
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PAYMENTS AND RECEIPTS. The occupant agrees: 6.1 To pay occupancy fees on time, and 6.2 To pay for all other allowable charges under this agreement, as outlined in Annexure 3 of this agreement within 14 days of receipt of written notice of the charges from the SDA Provider, unless as otherwise agreed by the SDA provider.
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PAYMENTS AND RECEIPTS. Except for the Price in Shares, any and all payments to be made pursuant to this Agreement, whether to the Sellers or the Buyer, as the case may be, will be made by transferring funds immediately available in national currency, in the checking accounts held by each one of them, as listed in Exhibit 3.2, the proof of electronic transfer being valid as an instrument of the broadest, most general, irreversible and irrevocable discharge.
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PAYMENTS AND RECEIPTS. To pay any payment to any Beneficiary into such Beneficiary's bank account and the Trustees shall be discharged from obtaining a receipt or considering, dealing with or otherwise acting in respect of the application of such payment.
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PAYMENTS AND RECEIPTS. Rentals and other amounts owing by either party pursuant to this Lease shall be paid in current Detroit funds at the same address specified for notices, unless a different address has been designated in writing. Each party shall be entitled to receive from the other party upon request a written receipt for any rentals or other such amounts which may be paid.
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PAYMENTS AND RECEIPTS. 1. The parties shall pay or receive money in accordance with this Agreement and each Transaction Confirmation. 2. If in a case of mutual monetary payments to be made under the same Transaction Confirmation each of the two parties owes to the other party payment obligations that are payable on the same day and in the same currency, then the party shall deduct from its account payable to the other party an amount receivable from such other party and pay or receive what remains as the balance. 3. All payments to be made under this Article shall be made without deducting or withholding taxes. If either party is required to deduct or withhold any taxes from any payment, the party shall deduct or withhold such taxes, and increase the actual payment amount so that the other party may receive an amount which it should were it not for such deduction or withholding. 4. Unless otherwise provided in the Transaction Confirmation if a payment in yen to be made by a party involves fractions of a yen, then fractions less than a yen shall be rounded down for each transaction, and if a payment in a foreign currency involves any fractions of the smallest unit of such currency, fractions less than the smallest unit shall be rounded for each transaction. The “smallest unit of currency” as referred to here means the smallest unit of a currency that has mandatory circulating power. 5. Unless otherwise provided in the Transaction Confirmation the payment of a payable amount in a case where the payable amount of interest turns negative and causes the calculated payable amount to be negative shall mean that the payer of the payable amount will receive from the other party an amount equivalent to the absolute value of such payable amount. 6. If a party (“defaulting party”) fails to pay the whole or a part of its payment obligations payable to the other party (“non-defaulting party”) under a Transaction Agreement governed by this Agreement, the non-defaulting party may deduct the unpaid amount of the defaulting party’s payment obligations from its undue payment obligations owed to the defaulting party upon their maturity. If both parties’ payment obligations are denominated in different currencies such deduction shall be made as converted at the exchange rate between the two currencies quoted by the person designated by the non-defaulting party (including the “Bank”) for the time and date indicated by the non-defaulting party. 7. UBIC’s payment to the Bank under this Agreement and ea...
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PAYMENTS AND RECEIPTS. Before any payments outlined above can be made to the student, a signed, written Agreement must be in place, and a transcript of marks of the student’s previous semester’s marks and an acceptance letter from first year applicants must be received by NSMDC Program Manager. A “direct deposit” form is sent with this Agreement. Student must sign the direct deposit form and fill it in correctly in order to receive any financial support. All books/supplies receipts are due to the Program Manager no later than fifteen (15) business days after the start of the academic semester. Along with these receipts the student must enclose their course outline that states the name of the book needed for each course, if the book list is not included, the receipt cannot be paid. Students attending NBCC do not have to submit their receipts as NSMDC Post-Secondary Education Program is directly invoiced from the institution. A student must repay all financial assistance paid out to them by the NSMDC Post-Secondary Education Program during the duration of their Agreement if they quit, fail, or are terminated from their program of studies. Students who are on “Medical Leave”, or on “Maternity Leave” and have provided documentation will be exempt from this policy. NSMDC Post-Secondary Education Program reserves its right to withhold or reduce all funding, or take any other action it deems appropriate including terminating the Agreement, if transcripts or any other such information or documentation as required under the Local Guidelines is not provided.
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PAYMENTS AND RECEIPTS. Rentals and other amounts owing by either party pursuant to this Lease shall be paid at the same address specified for notices unless a different address shall be designated in writing. Each party shall be entitled to receive from the other party upon request a written receipt for any rentals or other such amounts which may be paid.
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Related to PAYMENTS AND RECEIPTS

  • Payments and Royalties 3.1 As an initial non-refundable payment for the licenses and rights herein granted to SHENZHEN HIGH POWER under this Agreement, SHENZHEN HIGH POWER shall pay to OBC the up-front fees, without subtraction or deduction of Chinese withholding taxes, if any, pursuant to the schedule set forth in Appendix II attached hereto. 3.2 In addition to the lump sum payment under Article 3.1 above, SHENZHEN HIGH POWER shall pay to OBC non-refundable running royalties, also pursuant to the schedule set forth in Appendix II hereto, of the Net Selling Price of the Licensed Consumer Hydride Batteries sold or Otherwise Disposed Of by SHENZHEN HIGH POWER and its Affiliates (either directly or through sales representatives or agents) in any country of the world during the period commencing on the Effective Date of this Agreement and ending upon the expiration of the last to expire of the Licensed Patents. 3.3 Notwithstanding that a Licensed Consumer Hydride Battery may be covered by (i) the claims of one or more of the Licensed Patents or (ii) the claims of one or more of the Licensed Patents in one or more countries throughout the world, SHENZHEN HIGH POWER, in connection with the manufacture or sale of the Licensed Consumer Hydride Batteries by SHENZHEN HIGH POWER, its successors or assigns shall be obliged to pay a single royalty hereunder and only on the first sale of such Licensed Consumer Hydride Batteries and not on any subsequent sale or resale thereof and all end-users, distributors, customers, dealers, or suppliers of SHENZHEN HIGH POWER, its successors or assigns of such Licensed Consumer Hydride Batteries shall be licensed to use and/or sell the same. 3.4 All statements submitted and all payments made pursuant to Article 3.1 and Article 3.2 herein shall be stated and made in U.S. legal tender at the selling rate of authorized foreign exchange bankers in various individual countries under the license for transfers to New York in U.S. dollars on the date on which payments are made as required hereunder.

  • Payments and Collections All funds received by the Agent in respect of any payments made by any Borrower on the Term Notes shall be distributed promptly on the date of receipt thereof by the Agent among the Banks, in like currency and funds as received, ratably according to each Bank’s Term Loan Percentage. All funds received by the Agent in respect of any payments made by any Borrower on the Revolving Notes, Revolving Commitment Fees or Letter of Credit Fees shall be distributed promptly on the date of receipt thereof by the Agent among the Banks, in like currency and funds as received, ratably according to each Bank’s Revolving Percentage. After any Event of Default has occurred, all funds received by the Agent, whether as payments by the Borrowers or as realization on collateral or on any guaranties, shall (except as may otherwise be required by law) be distributed by the Agent in the following order: (a) first to the Agent or any Bank that has incurred unreimbursed costs of collection with respect to any Obligations hereunder, ratably to the Agent and each Bank in the proportion that the costs incurred by the Agent or such Bank bear to the total of all such costs incurred by the Agent and all Banks; (b) next to the Agent for the pro rata account of (i) the Banks (in accordance with their respective Total Percentages) for application on the Notes and (ii) the Rate Protection Providers (in accordance with their outstanding and owed Rate Protection Obligations) for application on the Rate Protection Agreements; (c) next to the Agent for the account of the Banks (in accordance with their respective Revolving Percentages) for any unpaid Revolving Commitment Fees or Letter of Credit Fees owing by the Borrowers hereunder; and (d) last to the Agent to be held in the Holding Account to cover any outstanding Letters of Credit.

  • Payments and Transfers 1. Except under the circumstances envisaged in Article 11, a Party shall not apply restrictions on international transfers and payments for current transactions relating to its specific commitments. 2. Nothing in this Agreement shall affect the rights and obligations of any Party who is a member of the International Monetary Fund under the Articles of Agreement of the Fund, including the use of exchange actions which are in conformity with the Articles of Agreement of the Fund, provided that a Party shall not impose restrictions on any capital transactions inconsistently with its specific commitments regarding such transactions, except under Article 11 or at the request of the Fund.

  • Payments and Reports All payments and reports due hereunder shall be made on or before the day such payments and reports are due. Nothing in this paragraph shall be construed to extend the expiration of the primary term hereof. Oil royalty payments and supporting documents shall be submitted prior to the last day of the month following each month's sale of production, and gas royalty payments and supporting documents shall be submitted prior to the last day of the second month following each month's sale of production. All payments shall be made by cash, check, certified check, or money order. Payment having restrictions, qualifications, or encumbrances of any kind whatsoever shall not be accepted by Lessor. A penalty for a late payment shall be charged as set forth in the PENALTIES paragraph herein.

  • PAYMENTS AND SET-OFF All sums payable by the Guarantor under this Deed of Guarantee will be paid without any set-off, lien or counterclaim, deduction or withholding, except for those required by Law. If any deduction or withholding must be made by Law, the Guarantor will pay that additional amount to ensure that the Buyer receives a net amount equal to the full amount which it would have received if the payment had been made without the deduction or withholding. The Guarantor will pay interest on any amount due under this Deed of Guarantee at the applicable rate under the Late Payment of Commercial Debts (Interest) Act 1998, accruing on a daily basis from the due date up to the date of actual payment, whether before or after judgment. The Guarantor will reimburse the Buyer for all legal and other costs (including VAT) incurred by the Buyer in connection with the enforcement of this Deed of Guarantee.