Payment Received by Seller Sample Clauses

Payment Received by Seller. Pinnacle shall be entitled to all payments on any Contract received after the date Pinnacle purchased the Contract from Seller. All payments under a Contract which Seller receives after a Contract has been sold to Pinnacle, will be held in trust for Pinnacle, shall not be commingled with Seller’s own funds, and Seller shall promptly endorse such payments to “PAY TO THE ORDER OF PINNACLE FINANCIAL GROUP”, and deliver such payments to Pinnacle by overnight courier without depositing such payments in Seller’s account. If any Financed Vehicle covered by any Contract sold to Pinnacle comes into the possession of Seller while the Obligor is indebted to Pinnacle for such Financed Vehicle, Seller will promptly notify Pinnacle, hold the Financed Vehicle in trust for Pinnacle, and will deliver the Financed Vehicle to Pinnacle on demand.
AutoNDA by SimpleDocs
Payment Received by Seller. Pinnacle shall be entitled to all payments on any Contract received after the date Pinnacle purchased the Contract from Seller. All payments under a Contract which Seller receives after a Contract has been sold to Pinnacle, will be held in trust for Pinnacle, shall not be commingled with Seller’s own funds, and Seller shall promptly endorse such payments to “PAY TO THE ORDER OF PINNACLE FINANCIAL GROUP”, and deliver such payments to Pinnacle by overnight courier without depositing such payments in Seller’s account or shall immediately notify Pinnacle and hereby agrees to allow Pinnacle to transfer such funds by Automatic Clearing House transactions to Seller’s bank account. If any Financed Vehicle covered by any Contract sold to Pinnacle comes into the possession of Seller while the Obligor is indebted to Pinnacle for such Financed Vehicle, Seller will promptly notify Pinnacle, hold the Financed Vehicle in trust for Pinnacle, and will deliver the Financed Vehicle to Pinnacle on demand.

Related to Payment Received by Seller

  • Collection Where Payment Refused The Custodian shall not be required to take action to effect collection of any amount, if the Securities upon which such amount is payable are in default, or if payment is refused after due demand or presentation, unless and until it shall be directed to take such action and it shall be assured to its satisfaction of reimbursement of its related costs and expenses.

  • Mortgage Payments Received After Transfer Date The amount of any related Monthly Payments received by the Seller after the related Transfer Date shall be forwarded to the Purchaser by overnight mail within one (1) Business Day following the date of receipt. The Seller shall notify the Purchaser of the particulars of the payment, which notification requirement shall be satisfied if the Seller forwards with its payment sufficient information to permit appropriate processing of the payment by the Purchaser. The Seller shall assume full responsibility for the necessary and appropriate legal application of such Monthly Payments received by the Seller after the related Transfer Date with respect to related Mortgage Loans then in foreclosure or bankruptcy; provided, for purposes of this Agreement, necessary and appropriate legal application of such Monthly Payments shall include, but not be limited to, endorsement of a Monthly Payment to the Purchaser with the particulars of the payment such as the account number, dollar amount, date received and any special Mortgagor application instructions and the Seller shall comply with the foregoing requirements with respect to all Monthly Payments received by it after the related Transfer Date.

  • No Delinquent Receivables As of the Cutoff Date, no payment due under any Receivable was more than 30 days past due.

  • Monthly Payments On or before each Transfer Date, the Servicer shall instruct the Trustee in writing (which writing shall be substantially in the form of Exhibit B hereto) to withdraw and the Trustee, acting in accordance with such instructions, shall withdraw on such Transfer Date or the related Distribution Date, as applicable, to the extent of available funds, the amounts required to be withdrawn from the Finance Charge Account, the Principal Account, the Principal Funding Account and the Distribution Account as follows:

  • Monthly Payment City shall make monthly payments, based on invoices received, for services satisfactorily performed, and for authorized reimbursable costs incurred. City shall have 30 days from the receipt of an invoice that complies with all of the requirements above to pay Consultant.

  • Remittance Date The 18th day (or if such 18th day is not a Business Day, the first Business Day immediately following) of any month.

  • Taxes and Fees Imposed on Purchasing Party But Collected And Remitted By Providing Party 11.3.1 Taxes and fees imposed on the purchasing Party shall be borne by the purchasing Party, even if the obligation to collect and/or remit such taxes or fees is placed on the providing Party.

  • Scheduled Payments As of the Cutoff Date, each Receivable had a first scheduled due date on or prior to the end of the third month immediately following the Cutoff Date.

  • Government Receivables Take all steps necessary to protect Agent’s interest in the Collateral under the Federal Assignment of Claims Act, the Uniform Commercial Code and all other applicable state or local statutes or ordinances and deliver to Agent appropriately endorsed, any instrument or chattel paper connected with any Receivable arising out of contracts between any Borrower and the United States, any state or any department, agency or instrumentality of any of them.

  • Subsequent Recalculation In the event the Internal Revenue Service adjusts the computation of the Company under Section 5.2 herein so that the Executive did not receive the greatest net benefit, the Company shall reimburse the Executive for the full amount necessary to make the Executive whole, plus a market rate of interest, as determined by the Committee, within 30 days after such adjustment.

Time is Money Join Law Insider Premium to draft better contracts faster.