Common use of Payment Administration Clause in Contracts

Payment Administration. CEPI shall make all payments to the Partner in United States Dollars (USD ($)) unless otherwise agreed between the Parties by electronic wire transfer of immediately available funds directly to the Partner’s bank account designated below: Account Name: [*****] Account No.: [*****] Bank: [*****] Sort code: [*****] Swift code: [*****] Branch: [*****] Account Currency: USD Partner shall ensure that the bank account designated above is a separate bank account with a bank with credit rating A, is in the name of the Partner, is described as a CEPI funding account and that the bank account does not go into debit during the Project Term.