Common use of Payment of Proceeds Clause in Contracts

Payment of Proceeds. Once a Binding Obligation is created between you and Buyer, RB Group will generate a third‐party invoice that is issued to Buyer on your behalf. Where VAT is applicable, once a Binding Obligation is created between you and Buyer, then upon instruction of RB Group, you shall either: (a) raise a VAT compliant invoice directed to RB Group in which case Seller is making a deemed supply of goods to RB Group for VAT purposes; or (b) raise a VAT compliant invoice directed to the Buyer which invoice shall be made available to RB Group prior to delivery to the Buyer. Buyer is responsible for paying you the purchase price for the Equipment upon creation of a Binding Obligation, and you hereby instruct RB Group to facilitate receipt of the purchase price. Further, you hereby xxxxx XX Group the right, in its own name, to enforce your right to payment. You agree that no monies shall be payable to you until paid by the Buyer. Once received by RB Group, any monies due to you, net of any commissions and fees due RB Group as detailed in this Agreement, shall be disbursed within 21 days after creation of a Binding Obligation and , where applicable, receipt of a VAT compliant invoice. You hereby consent to RB Group's right to offset any other commissions and fees specified in this Agreement or that result from additional services requested by you, with any remainder to be paid within 21 days following receipt of an invoice. You acknowledge that Buyers may fail to perform or pay on a timely basis and that RB Group shall not have any liability to you for any act or omission of Buyers.

Payment of Proceeds. Once a Binding Obligation is created between you and Buyer, RB Group will generate a third‐party third-party invoice that is issued to Buyer on your behalf. Where VAT is applicable, once a Binding Obligation is created between you and Buyer, then upon instruction of RB Group, you the Seller shall either: (a) raise a VAT compliant invoice directed to RB Group in which case Seller is making a deemed supply of goods to RB Group for VAT purposes; or (b) raise a VAT compliant invoice directed to the Buyer which Buyer(s) upon instruction of RB Group. The invoice shall be made available to RB Group prior to delivery to the BuyerGroup. Buyer is responsible for paying you the purchase price for the Equipment upon creation of a Binding Obligation, and you hereby instruct RB Group to facilitate receipt of the purchase price. Further, you hereby xxxxx XX Group the right, in its own name, to enforce your right to payment. You agree that no monies shall be payable to you until paid by the Buyer. Once received by RB Group, any monies due to you, net of any commissions and fees due RB Group as detailed in this Agreement, shall be disbursed within 21 days after creation of a Binding Obligation and , where applicable, receipt of a VAT compliant invoiceObligation. You hereby consent to RB Group's right to offset any other commissions and fees specified in this Agreement or that result from additional services requested by you, with any remainder to be paid within 21 days following receipt of an invoice. You acknowledge that Buyers may fail to perform or pay on a timely basis and that RB Group shall not have any liability to you for any act or omission of Buyers.

Payment of Proceeds. Once a Binding Obligation is created between you and Buyer, RB Group will generate a third‐party third-party invoice that is issued to Buyer on your behalf. Where VAT is applicable, once a Binding Obligation is created between you and Buyer, then upon instruction of RB Group, you shall either: (a) raise a VAT compliant invoice directed to RB Group in which case Seller is making a deemed supply of goods to RB Group for VAT purposes; or (b) raise a VAT compliant invoice directed to the Buyer which invoice shall be made available to RB Group prior to delivery to the Buyer. Buyer is responsible for paying you the purchase price for the Equipment upon creation of a Binding Obligation, and you hereby instruct RB Group to facilitate receipt of the purchase price. Further, you hereby xxxxx XX Group the right, in its own name, to enforce your right to payment. You agree that no monies shall be payable to you until paid by the Buyer. Once received by RB Group, any monies due to you, net of any commissions and fees due RB Group as detailed in this Agreement, shall be disbursed within 21 days after creation of a Binding Obligation and , where applicable, receipt of a VAT compliant invoice. You hereby consent to RB Group's right to offset any other commissions and fees specified in this Agreement or that result from additional services requested by you, with any remainder to be paid within 21 days following receipt of an invoice. You acknowledge that Buyers may fail to perform or pay on a timely basis and that RB Group shall not have any liability to you for any act or omission of Buyers.

Payment of Proceeds. Once a Binding Obligation is created between you and Buyer, RB Group will generate a third‐party third-party invoice that is issued to Buyer on your behalf. Where VAT is applicable, once a Binding Obligation is created between you and BuyerXxxxx, then upon instruction of RB Group, you shall either: (a) raise a VAT compliant invoice directed to RB Group in which case Seller is making a deemed supply of goods to RB Group for VAT purposes; or (b) raise a VAT compliant invoice directed to the Buyer which invoice shall be made available to RB Group prior to delivery to the Buyer. Buyer is responsible for paying you the purchase price for the Equipment upon creation of a Binding Obligation, and you hereby instruct RB Group to facilitate receipt of the purchase price. Further, you hereby xxxxx XX Group the right, in its own name, to enforce your right to payment. You agree that no monies shall be payable to you until paid by the Buyer. Once received by RB Group, any monies due to you, net of any commissions and fees due RB Group as detailed in this Agreement, shall be disbursed within 21 days after creation of a Binding Obligation and , where applicable, receipt of a VAT compliant invoice. You hereby consent to RB Group's right to offset any other commissions and fees specified in this Agreement or that result from additional services requested by you, with any remainder to be paid within 21 days following receipt of an invoice. You acknowledge that Buyers may fail to perform or pay on a timely basis and that RB Group shall not have any liability to you for any act or omission of Buyers.

Payment of Proceeds. Once a Binding Obligation is created between you and Buyer, RB Group will generate a third‐party invoice that is issued to Buyer on your behalf. Where VAT is applicable, once a Binding Obligation is created between you and Buyer, then upon instruction of RB Group, you shall either: (a) raise a VAT compliant invoice directed One hundred percent (100%) of all monies or other proceeds payable to RB Group Pledgor in which case Seller is making a deemed supply connection with the sale or transfer of goods to RB Group for VAT purposes; or (b) raise a VAT compliant invoice directed any Shares shall be applied first to the Buyer which invoice payment of principal, accrued interest and other charges then outstanding under the Forgivable Note; provided, however, that to the extent that the fair market value (as determined pursuant to Section 5(a)(ii) below) of Pledgor's vested and exercisable options and/or restricted stock comprising the Shares (collectively, "Vested Shares") exceeds the sum of (i) the amount of principal and accrued interest (if any) then outstanding under the Forgivable Note plus (ii) the total contingent liability of Pledgor under the Letter Agreement (such excess fair market value referred to herein as "Excess Value"), Pledgor shall have the right to exercise and/or sell such Vested Shares to the extent of such Excess Value and receive all proceeds therefrom. The foregoing calculation shall be made available for each transaction to RB Group prior be effected by Pledgor with regard to delivery any Vested Shares. Notwithstanding the preceding to the Buyer. Buyer is responsible contrary, if SGI's employment of Employee shall terminate or cease for paying you the purchase price for the Equipment upon creation of a Binding Obligationany reason, whether voluntary or involuntary, and you hereby instruct RB Group whether with or without cause, or Pledgor shall be in default hereunder, one hundred percent (100%) of all monies or other proceeds payable to facilitate receipt Pledgor in connection therewith shall be applied to the payment of principal, accrued interest and other charges then outstanding under the purchase priceForgivable Note. Further, you hereby xxxxx XX Group the rightif Employee shall terminate his employment with SGI for any reason, in its own nameSGI shall terminate Employee's employment with SGI for cause, to enforce your right to payment. You agree that no monies or Pledgor shall be in default hereunder, one hundred percent (100%) of all monies or other proceeds payable to you until paid Pledgor in connection therewith shall be applied to the payment of Pledgor's obligations under the Letter Agreement. Upon Pledgor's payment to SGI of all principal, accrued interest and other charges under the Forgivable Note and Letter Agreement (if applicable), the security interest created under this Agreement shall automatically terminate, and SGI shall promptly deliver to Pledgor all remaining Shares then held by SGI. Nothing herein shall be deemed to modify the Buyer. Once received by RB Group, any monies due to you, net terms of any commissions severance agreement now or hereafter entered into by Employee and fees due RB Group as detailed in this Agreement, shall be disbursed within 21 days after creation of a Binding Obligation and , where applicable, receipt of a VAT compliant invoice. You hereby consent to RB Group's right to offset any other commissions and fees specified in this Agreement or that result from additional services requested by you, with any remainder to be paid within 21 days following receipt of an invoice. You acknowledge that Buyers may fail to perform or pay on a timely basis and that RB Group shall not have any liability to you for any act or omission of BuyersSGI.