Common use of Payer Clause in Contracts

Payer. If the Liquidation Amount is a positive amount, the Default­ ing Party shall pay it to the Non­Defaulting Party and if it is a negative amount, the Non­Defaulting Party shall pay it to the Defaulting Party. The Non­Defaulting Party shall notify the Defaulting Party of the Liquidation Amount, and by which Party it is payable, immediately after the calculation of such amount.