Retentions and payment to third parties Clause Samples

The "Retentions and payment to third parties" clause defines how certain amounts may be withheld from payments and how payments can be made directly to parties other than the main contracting party. Typically, this clause allows the payer to retain a portion of the contract sum as security for performance or to cover potential defects, and it may also permit direct payments to subcontractors or suppliers if necessary. Its core function is to protect the payer’s interests by ensuring obligations are fulfilled and by providing a mechanism to address non-payment or performance issues within the contractual chain.
Retentions and payment to third parties. The Borrowers irrevocably authorise the Facility Agent: (a) to deduct from the proceeds of the Loan any fees then payable to the Finance Parties in accordance with Clause 10 (Fees), any solicitors fees (pre-agreed) and disbursements reasonably incurred together with any applicable VAT and any other items listed as deductible items in the Utilisation Request and to apply them in payment of the items to which they relate; and (b) on the Utilisation Date, to pay to, or for the account of, the Borrowers the amounts which the Facility Agent receives from the Lenders in respect of the Loan. That payment shall be made: (i) to the account which the Borrowers specify in the Utilisation Request; and (ii) in like funds as the Facility Agent received from the Lenders in respect of the Loan.
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Retentions and payment to third parties. Each Borrower irrevocably authorises the Facility Agent: (a) to deduct from the proceeds of the Loan any fees then payable to the Finance Parties in accordance with Clause ‎10 (Fees), any solicitors fees and disbursements together with any applicable VAT and any other items listed as deductible items in the Utilisation Request and to apply them in payment of the items to which they relate; and (b) on the Utilisation Date, to pay to, or for the account of, the Borrowers, the balance (after any deduction made in accordance with paragraph ‎(a) above) of the amounts which the Facility Agent receives from the Lenders in respect of the Loan. That payment shall be made: (i) to the account of the Existing Facility Agent which the Borrowers specify in the Utilisation Request; and (ii) in like funds as the Facility Agent received from the Lenders in respect of the Loan.
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Retentions and payment to third parties. The Borrowers irrevocably authorise the Lender: (a) to deduct from the proceeds of any Advance any fees then payable to the Lender in accordance with Clause 11 (Fees), any solicitors fees and disbursements together with any applicable VAT and any other items listed as deductible items in the relevant Utilisation Request and to apply them in payment of the items to which they relate; and (b) on each Utilisation Date, to pay to, or for the account of, the relevant Borrower which is to utilise the relevant Advance, the balance (after any deduction made in accordance with paragraph (a) above) of the amount of such Advance. That payment shall be made in the case of each Tranche, to the account of the Existing Lender under the Existing Facility Agreement which the Borrowers may specify in the relevant Utilisation Request and any surplus shall be paid to the Borrowers in the account designated by them in the relevant Utilisation Request.
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Retentions and payment to third parties. The Borrowers irrevocably authorise the Facility Agent: (a) to deduct from the proceeds of the Advance any fees then payable to the Finance Parties in accordance with Clause 11 (Fees) and any other items listed as deductible items in the Utilisation Request and to apply them in payment of the items to which they relate; (b) on the Utilisation Date, to pay to, or for the account of, the relevant Borrower which is to utilise the relevant Advance the balance (after any deduction made in accordance with paragraph (a) above) of the amounts which the Facility Agent receives from the Lenders in respect of the relevant Advance. That payment shall be made in like funds as the Facility Agent received from the Lenders in respect of the relevant Advance to the client account of an escrow agent approved in writing by the Facility Agent (the “Escrow Agent”) which the Borrowers specify in the Utilisation Request to be thereafter released to the account of the relevant Existing Owner and with such bank which the Borrowers specify in the Utilisation Request; and (c) following the deduction of fees in accordance with paragraph (a) above and payment of the balance of the relevant Advance in accordance with paragraph (b) above, any excess amount to be thereafter released to an Earnings Account of a Borrower specified in the Utilisation Request.
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Retentions and payment to third parties. The Borrowers irrevocably authorise the Lender: (a) to deduct from the proceeds of the Loan any fees then payable to the Lender in accordance with Clause 11 (Fees), any solicitors fees and disbursements together with any applicable VAT and any other items listed as deductible items in the Utilisation Request and to apply them in payment of the items to which they relate; and (b) on the Utilisation Date, to pay to, or for the account of, the Borrowers the amount of the Loan as follows: (i) subject to Clause 5.8 (Prepositioning of funds), in the case of Advance A, to the account of the Escrow Agent which the Borrowers specify in the Utilisation Request, to be held to the order of the Lender in accordance with the terms of the Escrow Agreement; (ii) in the case of Advance B, to the account of the Existing Lender under the Existing Loan Agreement which the Borrowers specify in the Utilisation Request; and (iii) in the case of Advance C, to the account of ▇▇▇▇▇▇▇▇ ▇.
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Retentions and payment to third parties. The Borrower irrevocably authorises the Lender: (a) to deduct from the proceeds of the Loan any fees then payable to the Lender in accordance with Clause 11 (Fees), any solicitors fees and disbursements together with any applicable VAT and any other items listed as deductible items in the Utilisation Request and to apply them in payment of the items to which they relate; and ​ (b) on the Utilisation Date, to pay the balance (after any deduction made in accordance with paragraph (a) above) of the Loan for the account of the Borrower to the account of the Existing Lender under the Existing Facility Agreement as agreed between the Lender and the Borrower.
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Retentions and payment to third parties. The Borrowers irrevocably authorise the Lender: (a) to deduct from the proceeds of the relevant Advance any items listed as deductible items in the relevant Utilisation Request (including, without limitation, the Minimum Liquidity Amount) and to apply them in payment of the items to which they relate; and (b) on each Utilisation Date, to pay to, or for the account of, the Borrowers, the balance (after any deduction made in accordance with paragraph (a) above) of the relevant Advance.
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Retentions and payment to third parties. The Borrower irrevocably authorises the Facility Agent to deduct from the proceeds of any Advance any fees then payable to the Finance Parties in accordance with Clause 11 (Fees), any solicitors fees and disbursements together with any applicable VAT and any other items listed as deductible items in the relevant Utilisation Request and to apply them in payment of the items to which they relate unless the Facility Agent is satisfied acting reasonably that the Borrower will pay such fees from other sources.
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Related to Retentions and payment to third parties

  • Obligations to Third Parties Each party warrants and represents that this Agreement does not conflict with any contractual obligations, expressed or implied, undertaken with any Third Party.

  • Notice to Third Parties Licensee shall give written notice, prior to the first sale of Licensed Product, to any Third Party to which it sells Licensed Product of the restrictions contained in this Section 5, and Licensee shall use its best endeavors, without prejudice to any other provision of this Agreement, to ensure that such Third Parties will undertake to abide by the restrictions contained in this Section 5 and will assist the MPP and Pfizer in securing compliance with this Section 5 and the restrictions which it contemplates.

  • Non-Third Party Claims Upon discovery of any claim for which Buyer has an indemnification obligation under the terms of Section 12.1 which does not involve a claim by a third party against the Indemnitee, the Indemnitee shall give prompt notice to Buyer of such claim and, in any case, shall give Buyer such notice within 30 days of such discovery. A failure by Indemnitee to timely give the foregoing notice to Buyer shall not excuse Buyer from any indemnification liability except to the extent that Buyer is materially and adversely prejudiced by such failure.

  • Exceptions to Confidentiality Obligations 4.1 This Agreement imposes no obligation upon the Recipient with respect to the City’s Confidential Material received hereunder that (a) the Recipient can promptly demonstrate with documentary evidence was already legitimately known to the Recipient without a duty of confidentiality prior to the disclosure thereof by the City, (b) is lawfully received by the Recipient from a third party, other than a supplier introduced to the Recipient by the City, without a duty of confidentiality, (c) has become general public knowledge through no act or fault on the part of the Recipient or the Recipient’s Team, or (d) the Recipient can promptly demonstrate with documentary evidence was independently developed by or for the Recipient without the use of any Confidential Material.

  • Payments to Third Parties Grantor will have no liability to Grantee when Grantor acts in good faith to redirect all or a portion of any Grantee payment to a third party. Grantor will be deemed to have acted in good faith when it is in possession of information that indicates Grantee authorized Grantor to intercept or redirect payments to a third party or when so ordered by a court of competent jurisdiction.