Monetary Matters Clause Samples
The 'Monetary Matters' clause defines the rules and procedures related to financial transactions between the parties involved in an agreement. It typically covers aspects such as payment terms, invoicing procedures, acceptable methods of payment, and the handling of expenses or reimbursements. For example, it may specify when payments are due, how late payments are addressed, and what currencies are acceptable. The core function of this clause is to ensure clarity and prevent disputes by setting clear expectations regarding all financial obligations under the contract.
Monetary Matters. Section 8 (Monetary Matters) of the Construction Agreement is amended by deleting the same in its entirety and replacing the same with the following:
Monetary Matters. 13.1. Landlord's Design Contribution. Landlord will contribute One Dollar ------------------------------ and 50/100 ($1.50) per square foot of rentable area of the Premises ("Landlord's ---------- Design Contribution") toward the cost of preparation of the space plan and the ------------------- Plans (but Landlord's Design Contribution shall never exceed the total cost of such preparation). Any and all costs of such preparation in excess of Landlord's Design Contribution shall be borne by Tenant. The foregoing notwithstanding, Landlord shall not be required to contribute any sums toward such costs unless simultaneously therewith Tenant pays its portion of such costs (based on Landlord's estimate thereof), if any. If the actual costs are more than Landlord's estimate, the difference shall be paid by Tenant. If the actual costs are less than Landlord's estimate, then Tenant's portion of such difference shall be refunded to Tenant.
Monetary Matters. Notwithstanding any terms and conditions in the JV & SH Agreement or elsewhere, the JV & SH Parties have expressly agreed the following:
(i) the total sum required from the JV & SH Parties to fund the business of XMSB is RM253,993,800 (“Business Funding”);
(ii) the Business Funding shall be promptly contributed by the JV & SH Parties in equal proportion to the Shareholding Proportions in the form of subscription of XMSB Shares or shareholders advances or in such other form the JV & SH Parties may agree.
Monetary Matters. (i) The Shareholders hereby expressly agree that the Purchase Price shall be promptly contributed by the Shareholders proportionate to the Shareholding Proportions in the form of subscription of Shares or where mutually agreed between the Shareholders, by way of RPS, Shareholders Advances or any other such agreed form.
(ii) The JV Parties agree that where further financing may be required by PPSB, PPSB shall be primarily responsible to procure all the funds required to finance the business by obtaining loans or facilities from banks or financial institutions on reasonable terms as to interest, repayment and security. Where it is a requirement of the banks or financial institutions for the Shareholders to grant any undertakings for the financing, such guarantees or undertakings shall be subject to each Shareholder obtaining its necessary board approval for the same, and shall be provided in proportion to their Shareholding Proportion.
(iii) Where financing from banks or financial institutions is not available to PPSB or is made on terms not acceptable to any JV Party, unless otherwise agreed, each Shareholder agrees that it will provide financing to PPSB and such financing may be provided by way of Shares or other forms of capital injection as mutually agreed among the Shareholders in accordance with the Shareholding Proportions.
Monetary Matters