Common use of Payments by Either Party Clause in Contracts

Payments by Either Party. All payments required to be made by either Party to the other Party pursuant to the terms of this Lease shall be paid in such freely transferable coin or currency of the United States as at the time of payment shall be legal tender for the payment of public and private debts at the receiving Party’s address as set forth in this Lease, or at such other address as such Party may specify from time to time in accordance with the terms and conditions of this Lease. For the purposes of this Lease, all payments shall be deemed paid and received only when actually received by the other Party and, in the event of payment by check, other than a cashier’s check or certified check, shall not be considered to have been actually received in the event of the failure of such check to clear the receiving Party’s account.