Examples of Monthly Settlement Date in a sentence
All disbursements shall be made by “Electronic Funds Transfer” (EFT) via “Automated Clearing House” (ACH), to a bank designated in writing by the Company or QFCP Generator to which disbursement is owed, by 11:59:59 pm EPT on the Monthly Settlement Date.
On the Monthly Settlement Date, Buyer will pay to Seller, or Seller will pay to the Buyer, as the case may be, the total amount due in the applicable Invoice, subject to Section 7.5 (Netting of Payments).
For twice monthly payments, the Monthly Settlement Date will apply to the payment for the second twice-monthly billing period.
Buyer and Seller shall discharge mutual debts and payment obligations due and owing to each other under this Agreement, as of the Monthly Settlement Date, such that all amounts owed by each Party to the other Party shall be reflected in a single amount due to be paid by the Party who owes it and received by the other Party, provided that the calculation of the net amount shall not include any disputed amounts being withheld pursuant to Section 7.6 (Billing Disputes and Adjustments of Invoices).
On the Weekly Settlement Date or Monthly Settlement Date, as applicable, Buyer will pay to Seller, or Seller will pay to the Buyer, as the case may be, the total amount due in the applicable Invoice.