Payments to Agents Clause Samples
The "Payments to Agents" clause defines the terms under which payments are made to agents acting on behalf of a party in a contract. Typically, this clause outlines the conditions for payment, such as timing, method, and any documentation required to confirm the agent's authority to receive funds. For example, it may specify that payments made to a designated agent are considered as payments to the principal party, or require written authorization before disbursing funds to an agent. The core function of this clause is to clarify the process and legitimacy of payments made through intermediaries, thereby reducing the risk of disputes or misdirected payments.
Payments to Agents. (a) The Administrative Agent shall debit an account of the Domestic Borrowers with the Administrative Agent for all (i) interest payments when due as provided in §§2.5 and 3.4 with respect to the Domestic Notes or otherwise due hereunder, (ii) Domestic Revolving Loan Commitment Fees when due as provided in §2.2, and (iii) Letter of Credit Fees when due as provided in §5.10. The failure of the Administrative Agent to debit such account as provided herein with respect to any such payments shall not constitute a waiver of any payment due hereunder. All payments of principal, Reimbursement Obligations and any other amounts due hereunder or under any of the other Loan Documents in respect of the Domestic Notes shall be made to the Administrative Agent, for the respective accounts of the Domestic Lenders and the Administrative Agent, at the Administrative Agent’s Office, in each case in immediately available funds without setoff or counterclaim or other deduction. All payments received by the Administrative Agent after 3:00 p.m. New York time shall be deemed received on the next succeeding Business Day and any applicable interest or fee shall continue to accrue. If any payment to be made by any Domestic Borrower shall come due on a day other than a Business Day, payment shall be made on the next following Business Day, and such extension of time shall be reflected in computing interest or fees, as the case may be.
(b) The Canadian Agent shall debit an account of the Canadian Borrower with the Canadian Agent for all (i) interest payments when due as provided in §§2.5 and 3.4 with respect to the Canadian Notes or otherwise due hereunder, (ii) Canadian Revolving Loan Commitment Fees when due as provided in §2.2, and (iii) Letter of Credit Fees when due as provided in §5.10. The failure of the Canadian Agent to debit such account as provided herein with respect to any such payments shall not constitute a waiver of any payment due hereunder. All payments of principal and any other amounts due hereunder or under any of the other Loan Documents in respect to the Canadian Notes shall be made to the Canadian Agent, for the respective accounts of the Canadian Lenders and the Canadian Agent, at the Canadian Agent’s Office, in each case in immediately available funds. All payments received by the Canadian Agent after 3:00 p.m. New York time shall be deemed received on the next succeeding Business Day and any applicable interest or fee shall continue to accrue. If any paymen...
Payments to Agents. A payment by the Applicable Borrower to the Applicable Agent hereunder or any of the other Loan Documents for the account of any Applicable Lender shall constitute a payment to such Lender. Each Agent agrees promptly to distribute to each Applicable Lender such Lender’s pro rata share of payments received by such Agent for the account of such Lenders except as otherwise expressly provided herein or in any of the other Loan Documents.
Payments to Agents. (a) Except as provided in Sections 5.9(b) or (c) below, at or prior to Closing, PFG, PLAC or SFC shall pay any and all amounts payable to any and all agents and other persons under compensation arrangements made or allegedly made in connection with, in contemplation of or otherwise relating to the proposed management-led buyout of PennLife (the "Pre-Sale Obligations").
(b) At or prior to Closing, Buyer will (i) enter into investment agreements (the "Investment Agreements") with respect to the Buyer Common Stock to be purchased by certain agents of PennLife, (ii) adopt commission schedules and (iii) adopt stock-based and other compensation plans, in each case on terms consistent with Schedule 5.9(b) (the "Post-Closing Compensation Obligations").
(c) At and after the Closing, Buyer will cause PennLife to make all cash payments that relate to the Pre-Sale Obligations to the extent that such amounts are reserved for such purpose on the Unaudited Financial Statements and the Audited Financial Statements and set forth in Section 5.9 of the Disclosure Schedule.
Payments to Agents. All payments of principal, interest, Reimbursement Obligations, commitment fees, Letter of Credit Fees and any other amounts due hereunder or under any of the other Loan Documents with respect to the Dollar Facility shall be made to the Dollar Agent, for the respective accounts of the Dollar Banks and the Dollar Agent, at the Dollar Agent's Head Office or at such other location in the Boston, Massachusetts, area that the Dollar Agent may from time to time designate, in each case in immediately available funds in Dollars. Each Redelivery and all payments of principal, interest, commitment fees, Consignment Fees, Gold Fronting Fees, Consignment Premiums, and any other amounts due hereunder or under any of the other Loan Documents with respect to the Gold Facility shall be made to the Gold Agent, for the respective accounts of the Gold Banks and the Gold Agent, at the Gold Agent's Head Office or at such other location as the Gold Agent may from time to time designate, in each case in immediately available funds in Dollars or, as applicable, ▇▇▇▇ ounces.
Payments to Agents. A payment by the Borrower to the Agents hereunder or any of the other Loan Documents for the account of any Bank shall constitute a payment to such Bank. The Agents agree promptly to distribute to each Bank such Bank's pro rata share of payments received by the Agents for the account of the Banks except as otherwise expressly provided herein or in any of the other Loan Documents.
Payments to Agents. A payment by a Borrower to the applicable Agent hereunder or any of the other Loan Documents for the account of any Bank shall constitute a payment to such Bank. Subject to Section 28, each Agent agrees promptly to distribute to each Bank such Bank's pro rata share of payments received by such Agent for the account of the Banks except as otherwise expressly provided herein or in any of the other Loan Documents.
Payments to Agents. 60 8.12.2. No Offset, etc. ................................61 8.12.3. Withholding Forms. .............................61 8.12.4. Exclusions. ....................................62 8.13. Computations. .............................................62
Payments to Agents. 115 18.5.2. Distribution by Agents. ........................115 18.5.3.
Payments to Agents. (a) The Existing Agent shall have received from the Company payment in immediately available funds of all costs, expenses, accrued and unpaid fees and other amounts payable to it as the Existing Agent pursuant to the Credit Documents (including fees and expenses of counsel), to the extent invoiced to the Company at least one Business Day prior to the Effective Date, and (b) the Successor Agent shall have received from the Company payment in immediately available funds of all costs, expenses, accrued and unpaid fees and other amounts payable to it as the Successor Agent (including fees and expenses of counsel) pursuant to the fee letter dated as of February 15, 2011 entered into between the Company and the Successor Agent in the case of expenses, to the extent invoiced to the Company at least one Business Day prior to the Effective Date.
Payments to Agents. (a) The Company shall pay commissions in accordance with the schedule of commissions included in or attached to the Agents' agreements.
(b) The Company shall not be bound by an assignment or pledge of, or lien on, any Agent's commissions on behalf of the Specialty Broker, unless the Company has received specific and timely written notice of, and has agreed in writing to honor such assignment, pledge or lien.