Common use of Payment Required Clause in Contracts

Payment Required. Any payment required under this Section 9.03 will be (i) payable by the Seller to the Buyer (by wire transfer of immediately available funds to an account designated by the Buyer) within five business days after demand by the Buyer and (ii) net of any other payments made by the Seller to the Buyer pursuant to the provisions of Section 9.02(b). In the event of a termination under circumstances that would trigger a payment under this Section 9.03, any standstill provisions contained in the Confidentiality Agreement shall terminate.