Settlement Principles Sample Clauses

Settlement Principles. 5.1. All settlements specified in the Financing Agreement and made by the Lender, Scramble and the Borrower under the Financing Agreement shall be made via the Virtual Accounts of the Lender and the Borrower registered pursuant to the Terms of Use. To make contractual payments (incl. disbursement of the Loan Principal Amount, Loan Principal repayments, and any and all contractual interest, fees and penalties), the Lender and the Borrower issue an irrevocable authorization to Scramble to credit the amount specified in the Financing Agreement to the extent and at the time specified in the Financing Agreement from the paying party’s Virtual Account and debit the receiving party’s Virtual Account in the same amount. The payment shall be deemed to be made when the receiving party’s Virtual Account is debited. 5.2. Unless the Financing Agreement stipulates otherwise, both the Lender and the Borrower shall ensure that there are sufficient funds in their respective Virtual Accounts for making payments pursuant to the Financing Agreement at the time and to the extent specified in the Financing Agreement. In case the aforementioned obligation is breached, the contractual penalty stipulated in clause 9.1 shall be applied monthly from the day following the day when such due payment failed. 5.3. If there are insufficient funds in the Borrower’s or any of its Batch Partners’ Virtual Account(s) for making payments arising from the Borrower’s or any of its Batch Partners’ obligations which have become collectible (incl. payments to the Borrower’s or any of its Batch Partners’ other creditors (lenders) under the Unsubordinated Loans and Subordinated Loans, and Scramble, the payments shall be made (including by using funds available in the Virtual Account(s) of the Borrower or any of its Batch Partners) in the following order: 5.3.1. in the first order, the Scramble Service Fee of Non-Performing Unsubordinated loans related to the Borrower or any of its Batch Partners; 5.3.2. In the second order, payments related to the Interest rate and Loan Principal Amount repayment obligation of Non-Performing Unsubordinated loans; 5.3.3. in the third order, payments related to Loan Extension Fees and contractual penalties of Non-Performing Unsubordinated Loans; 5.3.4. in the fourth order, the Scramble Service Fee of Performing Unsubordinated loans related to the Borrower or any of its Batch Partners; 5.3.5. in the fifth order, payments related to the Interest rate and Loan Principal Am...
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Settlement Principles. (1) Settlement between both Parties’ mobile networks: The two different settlement methods for mobile calls between different provinces are as follows: (i) If the settlement standards stipulated in the MII’s March 14, 2001 “Notice Regarding Announcement of ‘Settlement Measures for Interconnection Telecommunications Fees’” (Xinbu Dian [2001] No. 195) announcement is applied, the caller’s network shall retain RMB0.06 of the long-distance charge while the receiver’s network shall retain RMB0.06. The remainder shall be collected by Party B. (ii) Currently, both Parties agree to adopt the settlement method specified in 6.1(1)(ii). However, both Parties also agree that, if any other settlement method set forth and modified from time to time by the relevant governmental authorities, are found more favorable to Party B than the settlement method specified in 6.1(1)(ii), such settlement method shall be adopted.
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Settlement Principles i. Settlement between both Parties’ mobile networks: The two different settlement methods for mobile calls between different provinces are as follows: 1. In the event that Party A’s or Party B’s mobile subscriber makes a call in both Parties’ service area, and when Party A collects 4% of the long-distance charge, then Party B is also entitled to collect 4%. The remainder shall be collected by China Unicom Corporation Limited (CUCL). 2. If the settlement standards stipulated in the MII announcement dated March 14, 2001 is applied, the caller’s network shall retain RMB0.06 of the long-distance charge while the receiver’s network shall retain RMB0.06. The remainder shall be collected by CUCL. Currently, both Parties agree to adopt the first settlement method above. Both Parties also agree that, if any other settlement method set forth and modified from time to time by governmental authorities, are found more favorable to Party B than the settlement method currently used by both Parties, such settlement method shall be adopted. ii. All other interconnection settlement between both Parties: Both Parties agree to make settlements in accordance with the MII’s announcement dated March 14, 2001 and its amendments from time to time.
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Settlement Principles. (1) The Merchant may submit to EVO payment claims due against Cardholders for supplies of goods and services by the Mer-­‐ chant that were created during the term of the services for Card acceptance in the Card-­‐Present Business by using and presenting a Payment Card. (2) The settlement of Payment Card transactions via EVO requires the use of debit vouchers that were issued electronically. In order to properly issue an electronic debit voucher the pre-­‐ sented Payment Card – if it is furnished with a chip – has to be inserted in the chip card reading device of the card reader (POS terminal or other POS device, hereinafter jointly referred to as “POS Terminal”), or – if it is not furnished with a chip – has to be drawn through the reading device for magnetic stripes of the POS Terminal. Thereby the card data are elec-­‐ tronically collected, simultaneously forwarded to the Issuer for approval, and after online approval (see Section 4 below) the transaction data are printed out. Issuing electronic debit vouchers without adequate online approval is only possible if this is separately agreed by the Parties in writing. The Mer-­‐ chant shall hand out the copy of the debit voucher printed by the POS Terminal to the Cardholder upon itsrequest. (3) The Merchant may only use POS Terminals which have an EMV certification and which were activated by EVO prior to their first use. As soon as the Merchant has installed a POS Termi-­‐ nal at the cash counter it shall notify EVO accordingly and in-­‐ form EVO of the terminal ID number so that the POS Terminal can be initialized and activated for processing Payment Cards. The POS Terminal has to be installed in a way that the espying of the PIN when it is entered can be excluded as far as possi-­‐ ble. (4) Issuing debit vouchers manually by use of an imprinter is only permissible if a technical problem prevents the automatic is-­‐ suing and approval by telephone according to Section 4(2) was previously obtained. The Merchant shall prove this to EVO up-­‐ on its request by presenting the error log produced by the POS Terminal. In case of Maestro transactions the manual is-­‐ suing of debit vouchers is always prohibited. The Merchant may not enter card data in the POS Terminal manually by cir-­‐ cumventing the orderly issuing of debit vouchers as described in the foregoing provisions. Section 4(2) shall remain unaffect-­‐ ed. (5) The Merchant shall not submit transactions in the circum-­‐ stances set out in Sections 1(5) o...
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Settlement Principles. (1) Settlement of the interconnection between the mobile communications networks of the 2 parties With respect to mobile calls between different provinces, settlement can be made by one of the following two methods whichever is more favorable to Party B: (i) The mobile communications network from which the outgoing calls originate and the mobile communications network which receives the incoming calls shall each retain 4% of the long distance call fee incurred, and the remaining 92% shall be credited to Party B; (ii) Please refer to the settlement standard stipulated in the Notice Concerning the Issues of the Measures on Settlement of Interconnection between Public Telecommunications Networks and Sharing of Relay Fees(MII DOC[2003]454) promulgated by the Ministry of Information Industry on October 28, 2003. (2) Settlement of other interconnection between the networks of the 2 parties The 2 parties agree to settle all the other interconnections between their networks on the basis of the stipulations of the Notice Concerning the Issues of the Measures on Settlement of Interconnection between Public Telecommunications Networks and Sharing of Relay Fees promulgated by the Ministry of Information Industry on October 28, 2003. (3) The 2 parties further agree that if the settlement methods (and their amendments from time to time) formulated by relevant government authorities in respect of similar interconnections between their networks are more favorable to Party B when compared with the above-mentioned interconnection settlement arrangements, the settlement shall be conducted pursuant to such methods.
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Settlement Principles 
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Related to Settlement Principles

  • Cost Principles The Subrecipient shall administer its program in conformance with 2 CFR Part 200, et al; (and if Subrecipient is a governmental or quasi-governmental agency, the applicable sections of 24 CFR 85, “Uniform Administrative Requirements for Grants and Cooperative Agreements to State and Local Governments,”) as applicable. These principles shall be applied for all costs incurred whether charged on a direct or indirect basis.

  • General Principles Each Party shall implement its tasks in accordance with the Consortium Plan and shall bear sole responsibility for ensuring that its acts within the Project do not knowingly infringe third party property rights.

  • Basic Principles The Electrical Contractor and the Union have a common and sympathetic interest in the Electrical Industry. Therefore, a working system and harmonious relations are necessary to improve the relationship between the Employer, the Union and the Public. Progress in industry demands a mutuality of confidence between the Employer and the Union. All will benefit by continuous peace and by adjusting any differences by rational common-sense methods.

  • Funding Principles A Party which spends less than its allocated share of the Consortium Budget will be funded in accordance with its actual duly justified eligible costs only. A Party that spends more than its allocated share of the Consortium Budget will be funded only in respect of duly justified eligible costs up to an amount not exceeding that share.

  • Applicable Principles Subject to the provisions of this Agreement, the Realized Tax Benefit or Realized Tax Detriment for each Taxable Year is intended to measure the decrease or increase in the Actual Tax Liability of the Corporation for such Taxable Year attributable to the Basis Adjustments and Imputed Interest, as determined using a “with and without” methodology described in Section 2.4(a). Carryovers or carrybacks of any tax item attributable to any Basis Adjustment or Imputed Interest shall be considered to be subject to the rules of the Code and the Treasury Regulations or the appropriate provisions of U.S. state and local tax law, as applicable, governing the use, limitation and expiration of carryovers or carrybacks of the relevant type. If a carryover or carryback of any tax item includes a portion that is attributable to a Basis Adjustment or Imputed Interest (a “TRA Portion”) and another portion that is not (a “Non-TRA Portion”), such portions shall be considered to be used in accordance with the “with and without” methodology so that: (i) the amount of any Non-TRA Portion is deemed utilized first, followed by the amount of any TRA Portion (with the TRA Portion being applied on a proportionate basis consistent with the provisions of Section 3.3(a)); and (ii) in the case of a carryback of a Non-TRA Portion, such carryback shall not affect the original “with and without” calculation made in the prior Taxable Year. The Parties agree that, subject to the second to last sentence of Section 2.1(a), all Tax Benefit Payments attributable to an Exchange will be treated as subsequent upward purchase price adjustments that give rise to further Basis Adjustments for the Corporation beginning in the Taxable Year of payment, and as a result, such additional Basis Adjustments will be incorporated into such Taxable Year continuing for future Taxable Years until any incremental Basis Adjustment benefits with respect to a Tax Benefit Payment equals an immaterial amount.