Right to make direct payments Sample Clauses

The "Right to make direct payments" clause grants one party the authority to pay certain amounts directly to third parties, rather than routing payments through the other contracting party. For example, if a subcontractor or supplier is owed money under the contract, the main party may pay them directly to ensure timely fulfillment of obligations or to resolve payment disputes. This clause helps prevent project delays or legal complications by ensuring that essential parties are compensated, even if the intermediary party fails to make the required payments.
Right to make direct payments. 12.15.1 Should the Principal have reasonable grounds to consider that the Contractor has defaulted in making payment to any Subcontractor in respect of any part of the Contract Works for which the Contractor has been paid by the Principal, the Principal may require that, within five Working Days of notification by the Principal to the Contractor, the Contractor: (a) obtains written confirmation from the Subcontractor that the Subcontractor has received all monies due and owing to it from the Contractor under the terms of the agreement between the Contractor and the Subcontractor; or (b) justifies to the Principal that the payment in question is the subject of a bona fide dispute; or (c) makes payment to the Subcontractor to the extent required by the agreement between the Contractor and the Subcontractor. 12.15.2 If the Contractor fails to undertake one of the courses of action outlined in clause 12.15.1 within the time stipulated, the Principal shall have the right to pay that Subcontractor directly and deduct such amount from any monies payable to the Contractor or otherwise recover the amount concerned from the Contractor. 12.15.3 Any payment made by the Principal directly to a Subcontractor under this clause 12.15 shall be deemed to be in full satisfaction of any corresponding liability owed by the Principal to the Contractor. 12.15.4 The parties acknowledge that in the event of the Contractor: (a) becoming bankrupt; or (b) going into liquidation; or (c) having a receiver or statutory manager appointed; or (d) going into voluntary administration, the Principal’s rights under this 12.15 may be subject to, or impacted by, the receiver’s, liquidator’s, statutory manager’s or administrator’s (as applicable) rights and as such the Principal may not be able to exercise some or all of its rights under this 12.15.
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Right to make direct payments. Buyer reserves the right to make payments directly to subcontractors, agents and other entities whose efforts have been obtained by Seller in the fulfillment of this order if Seller becomes unable or unwilling for any reason to timely compensate them or to meet its debt obligations. In addition, Buyer reserves the right to make payments directly to bankruptcy courts, trustees in bankruptcy or receivers, as it deems necessary. Any amounts paid by Buyer to the entities or persons listed in this paragraph other than Seller, plus legal costs and expenses (including reasonable attorneys fees) incurred by Buyer as a consequence of Seller’s failure to fulfill its payment obligations as contemplated above, will be subtracted from any amounts owed to Seller under this Agreement. If Buyer makes direct payments to subcontractors or others as set out in this Article, Seller waives any right to recover any amount from Buyer for any work completed by these entities for which such entities have been paid by Buyer. Buyer reserves its right to seek any other remedies allowed in law or equity with respect to any such failure to perform by Seller.
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Right to make direct payments. Buyer reserves the right to make payments directly to subcontractors, agents and other entities whose efforts have been obtained by Seller in the fulfillment of this order if Seller becomes unable or unwilling for any reason to timely compensate
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Related to Right to make direct payments

  • Our Right to Make Payments and Recover Overpayments If payments which should have been made by us according to this provision have actually been made by another organization, we have the right to pay those organizations the amounts we decide are necessary to satisfy the rules of this provision. These amounts are considered benefits provided under this plan and we will not have to pay those amounts again. If we make payments for allowable expenses, which are more than the maximum amount needed to satisfy the conditions of this provision, we have the right to recover the excess amounts from: • the person to or for whom the payments were made; • any other insurers; and/or • any other organizations (as we decide). As the subscriber, you agree to pay back any excess amount paid, provide information and assistance, or do whatever is necessary to aid in the recovery of this excess amount. The amount of payments made includes the reasonable cash value of any

  • Owner’s Right to Make Changes Without invalidating the Contract, the Owner, by Change Order and without notice to the sureties, may authorize or order extra work or changes by altering, adding to, or deducting from the Work or the Contract Time, the Contract Sum being adjusted accordingly. All Change Orders shall be performed under the conditions of the original Contract except that any claim for extension of time caused thereby shall be adjusted at the time of signing of the Change Order. (See Change Order formats in Section 7.) Prior to the issuance of the Proceed Order, the Contractor and the Owner shall advise each other in writing of their designees authorized to accept and approve changes to the Contract Sum and the limits to each designee's authority. Should any designee or limits of authority change during the time this Contract is in effect, the Contractor or Owner shall give written notice to the other as provided in Article 1.

  • Right to Make Agreement Each party warrants, with respect to itself, that neither the execution of this Agreement, nor the consummation of any transaction contemplated hereby, shall violate any provision of any law, or any judgment, writ, injunction, order or decree of any court or governmental authority having jurisdiction over it; nor result in or constitute a breach or default under any indenture, contract, other commitment or restriction to which it is a party or by which it is bound; nor require any consent, vote or approval which has not been given or taken, or at the time of the transaction involved shall not have been given or taken. Each party covenants that it has and will continue to have throughout the term of this Agreement and any extensions thereof, the full right to enter into this Agreement and perform its obligations hereunder.

  • Obligation to Make Payments Any Interconnection Party's obligation to make payments for services shall not be suspended by Force Majeure.

  • Can I Roll Over or Transfer Amounts from Other IRAs You are allowed to “roll over” a distribution or transfer your assets from one ▇▇▇▇ ▇▇▇ to another without any tax liability. Rollovers between ▇▇▇▇ IRAs are permitted every 12 months and must be accomplished within 60 days after the distribution. Beginning in 2015, just one 60 day rollover is allowed in any 12 month period, inclusive of all Traditional, ▇▇▇▇, SEP, and SIMPLE IRAs owned. If you are single, head of household or married filing jointly, you may convert amounts from another individual retirement plan (such as a Traditional IRA) to a ▇▇▇▇ ▇▇▇, there are no AGI restrictions. Mandatory required minimum distributions from Traditional IRAs, must be removed from the Traditional IRA prior to conversion. Rollover amounts (except to the extent they represent non-deductible contributions) are includable in your income and subject to tax in the year of the conversion, but such amounts are not subject to the 10% penalty tax. However, if an amount rolled over from a Traditional IRA is distributed from the ▇▇▇▇ ▇▇▇ before the end of the five-tax-year period that begins with the first day of the tax year in which the rollover is made, a 10% penalty tax will apply. Effective in the tax year 2008, assets may be directly rolled over (converted) from a 401(k) Plan, 403(b) Plan or a governmental 457 Plan to a ▇▇▇▇ ▇▇▇. Subject to the foregoing limits, you may also directly convert a Traditional IRA to a ▇▇▇▇ ▇▇▇ with similar tax results. Furthermore, if you have made contributions to a Traditional IRA during the year in excess of the deductible limit, you may convert those non- deductible IRA contributions to contributions to a ▇▇▇▇ ▇▇▇ (assuming that you otherwise qualify to make a ▇▇▇▇ ▇▇▇ contribution for the year and subject to the contribution limit for a ▇▇▇▇ ▇▇▇). You must report a rollover or conversion from a Traditional IRA to a ▇▇▇▇ ▇▇▇ by filing Form 8606 as an attachment to your federal income tax return. Beginning in 2006, you may roll over amounts from a “designated ▇▇▇▇ ▇▇▇ account” established under a qualified retirement plan. ▇▇▇▇ ▇▇▇, ▇▇▇▇ 401(k) or ▇▇▇▇ 403(b) assets may only be rolled over either to another designated ▇▇▇▇ Qualified account or to a ▇▇▇▇ ▇▇▇. Upon distribution of employer sponsored plans the participant may roll designated ▇▇▇▇ assets into a ▇▇▇▇ ▇▇▇ but not into a Traditional IRA. In addition, ▇▇▇▇ assets cannot be rolled into a Profit-Sharing-only plan or pretax deferral-only 401(k) plan. In the event of your death, the designated beneficiary of your ▇▇▇▇ 401(k) or ▇▇▇▇ 403(b) Plan may have the opportunity to rollover proceeds from that Plan into a Beneficiary ▇▇▇▇ ▇▇▇ account. Strict limitations apply to rollovers, and you should seek competent advice in order to comply with all of the rules governing any type of rollover.