ACTUAL AMOUNT RECEIVED Clause Samples
The "Actual amount received" clause defines that any payments, reimbursements, or financial settlements referenced in the agreement are based on the net amount actually received by a party, rather than amounts invoiced or expected. In practice, this means that if deductions such as taxes, fees, or third-party charges reduce the sum received, only the final, cleared amount is recognized for contractual purposes. This clause ensures that obligations and entitlements are calculated on the real, tangible funds received, thereby preventing disputes over gross versus net payments and providing clarity in financial transactions.
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ACTUAL AMOUNT RECEIVED. The amount owed by any Obligor to any Finance Party under this Agreement shall be reduced by the amount actually received or recovered by such Finance Party and not by reference to any rate of exchange applied by any court or other body in calculating how much is payable by that Obligor under any judgment or order given in connection with this Agreement.