Payment by Scion Clause Samples
The 'Payment by Scion' clause defines the obligation of Scion, typically a party to the contract, to make specified payments under agreed terms. This clause outlines when payments are due, the acceptable methods of payment, and any conditions or documentation required for payment processing. Its core practical function is to ensure clarity and predictability regarding financial transactions between the parties, reducing the risk of disputes over payment timing or procedures.
Payment by Scion. At the Closing, Scion shall (A) pay to CeNeS the Up Front Payment; and (B) deliver to CeNeS a certificate signed by an executive officer of Scion dated as of the Closing Date, certifying as of the Closing Date that the representations and warranties of Scion are true and correct.