Entrusted payment. Party A submits a Payment Request and related documents to Party B in accordance with the requirements set out in Appendix IV herein; if the request is approved, Party B will pay the relevant sums to a transaction party of Party A for the purpose described in this Contract, in accordance with Party A’s payment request and payment entrustment. If the amount of a single payment requested by Party A is more than 5% of the total investment of the fixed-asset investment project or is in excess of RMB 5 million yuan, Party A shall use Entrusted Payment.
Appears in 2 contracts
Sources: Loan Agreement (China Yida Holding, Co.), Contract on Loan for Fixed Assets (China Yida Holding, Co.)