Directed Payment Clause Samples
A Directed Payment clause establishes the right of one party to instruct another party on how and to whom payments should be made under a contract. In practice, this means that the payor may be required to send funds directly to a third party, such as a subcontractor or supplier, rather than to the original contracting party. This mechanism is often used to ensure that key participants in a project are paid promptly or to satisfy specific financial arrangements. The core function of this clause is to provide flexibility in payment flows and to help manage financial risk by ensuring that critical payments are made as intended.
Directed Payment. Grant payments are to be made payable to the Company and mailed to the Company at the address provided in Section 8.1.
Directed Payment. Payment arrangement through which the Division directs the Contractor in the manner and method in which an expenditure is made as defined in in 42 C.F.R. § 438.6.
Directed Payment. So long as no Event of Default or Potential Event of Default shall have occurred and be continuing, upon irrevocable written demand by Pledgor Secured Party shall promptly (and in any event within two Business Days) instruct Securities Intermediary pursuant to Section 4(e) of the Third-Party Account Agreement, to transfer to Secured Party, to prepay Swing Line Loans pursuant to subsection 2.5B of the Credit Agreement, Financial Assets and other property designated by Pledgor (or in the absence of such a designation, reasonably selected by Secured Party of Securities Intermediary) in an aggregate minimum amount of $1,000,000 and integral multiples of $1,000,000 in excess of that amount (or such lesser amount as shall constitute the aggregate amount of all outstanding Swing Line Loans).
Directed Payment. To the extent permitted by law and the Employee’s 2011 Stock Option Plan, the Employee may forgo any cash payment, due hereunder and direct the Company to pay the gross amount of such payment to a third party. To the extent permitted by law, the Employee may defer any payment of any kind due under this agreement including any non-cash payments, hereunder to such later time as determined by the Employee.
Directed Payment. To the extent permitted by law and the Company’s 2011 Stock Option Plan, the Executive may forgo any payment, option grant, or stock grant due hereunder and direct the Company to pay the gross amount of such payment to a third party. To the extent permitted by law, the Executive may defer any payment of any kind due under this Agreement including any non-cash payments, hereunder to such later time as determined by the Executive.
Directed Payment. The Company hereby agrees to distribute Yang’s Pro-Rata Distribution within six (6) months of the date of the Transaction according to the following terms:
(a) If Yang’s Pro-Rata Distribution is less than or equal to the amount of the Borrowed Funds, the Company hereby agrees to distribute one hundred percent (100%) of Yang’s Pro-Rata Distribution directly to ▇▇▇▇▇▇▇-▇▇▇▇▇ on ▇▇▇▇’▇ behalf as a partial repayment of the Promissory Note.
(b) If Yang’s Pro-Rata Distribution is greater than the amount of the Borrowed Funds, the Company hereby agrees to (i) distribute that percentage of Yang’s Pro-Rata Distribution equal to the Borrowed Funds over Yang’s Pro-Rata Distribution directly to ▇▇▇▇▇▇▇-▇▇▇▇▇ on ▇▇▇▇’▇ behalf as complete repayment of the principal of the Promissory Note, and (ii) distribute the remainder of Yang’s Pro-Rate Distribution directly to Yang.